January 21st, 2008
Are You Paid in Money or Do you Barter?
Many women find that they are interested in starting a business of their own once they are in midlife. It can be a second or third career.
I was once a member of a formal networking group; the point was to come together as individuals and help each other grow our businesses through networking. It was a close cohesive group, and often times members would rely on the services of other members. An interesting aspect of this occurrence that I noticed was that when many of the women did business with each other, they discounted their services or products. This discounting was automatic and it was not observed with any of the men in regards to doing business with others. The men always appeared to charge their going rate.
Hmmm……if you have a business, do you discount or barter?
In this particular group it was quite common for the women to either give a discount, charge less, give away more for their going rate, or barter with others. This set a precedent for the other women, and in my opinion it was an action that was demonstrating a snowball effect.
What does this tell you about their thinking in regards to being reimbursed? Of course one could say that the women who do this are generous and possibly enjoy giving. That may be true; it makes me think that there may be a difference in the way that these women felt about accepting the money that they earned and how differently the men felt about accepting the money that they earned.
Is there really a difference in the way women and men value their work?
Of course I will never really know the reason for the discrepancy I observed in my group, but I do see the challenges that many of my clients have with charging enough for their service or products.
Often times these challenges of charging appropriately can stem from many old ways of thinking about money, childhood beliefs, or confidence in their discussion around the service. It can be a matter of being uncomfortable with the discussion of money. It is a commonly known fact that people place a greater value on what they pay for.
Therefore, it may help your bottom line to charge your full price!
Lorraine
