Mumpreneur Monday Challenge: Give Yourself a Pay Rise

It’s Monday Challenge! This is going to be the last Monday Challenge for a while because let’s face it, we don’t need anything else to challenge us in December! I bet your to-do list is big enough already?

(By the way, here are the previous  Monday Challenges if you missed them.)

So today’s challenge is (drum roll please…)

Give yourself a pay rise!

Here’s how you could do this…

  • Check to see if you’re under-charging

Is a lack of confidence keeping your prices lower than they should be? Have you kept your prices at the same level for a while and never had the courage to raise them? This week take a really honest look at what you charge.

  • Get a grip on your finances

Are your books less tidy than they should be? Is it hard for you to keep track of money coming in and going out of your business? If your bookkeeping and cashflow were up to date you could see where you were making the most money – and do more of that activity. You would also spend less time sorting your books out at the end of the year – time you could spend on activities that generate income.

  • Talk to your customers

Do a survey, ask them what they really want. Perhaps you could provide that little extra product or service that would increase your profits without too much more effort.

  • Think (and act) bigger

Is there one thing you could do that scares you, but that would give your business a boost? Maybe it’s sending a press release to a higher-profile magazine than you do usually. Perhaps it’s having the courage to speak at an event. Do it this week.

  • Plan

Decide you’re going to make more money in 2011. Sit down with a pen and paper or a spreadsheet and crunch those numbers. Set yourself a target that you want to earn in 2011 and plan out exactly how you’re going to do it.

Leave me a comment and let me know how you got on!

If you liked this challenge, take a look at my Earn What You Deserve as a Mumpreneur E-Course. Sign up for more info and you’ll be able to download my e-book: Price It Right: Five simple steps to choose a price for your product or service.

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