Why it’s important to charge your worth
By Katie Barnes | 11 June 2019 | Expert Advice, Feature
In the nail industry, we are fortunate to have such a rewarding career. However, with this in mind it is still important to remember that you, along with your peers, educators and colleagues are all running a business. Remember you’re not a charity, if you want to help people you need to be able to sustain your business or you won’t be able to help them anymore. Get over your emotional hang-ups about money and instead, think about the value you’re offering your customers.
This goes both ways – don’t expect someone to help you and work for free either. Before asking someone to give their time for free, think – how will it benefit them and how can you help them in return? This shows that you value their support and time.
Our career choice can often be perceived as a hobby, but when we don’t respect our own worth, this won’t change.
Do you charge your worth? Or are you constantly discounting your rates and trying to throw in ‘and the kitchen sink’ bonuses so you can feel like you’re actually ‘worth’ what you’re charging?
We are constantly investing in our education, products and skills and this in turn comes with a financial investment. Many techs feel guilty for charging for additional services and full price to family and friends. In business, emotions and money just don’t mix. I always remember the saying ‘friends will ask for a discount, true friends pay your worth’. This is true for all businesses.
When giving discounts you need to consider that all your outgoings do not change. This discount is coming from your own pocket and reducing your hourly earnings. Would that customer expecting a discount, or even a free service, work for under minimum wage, or even worse, pay to go to work? I highly doubt it. So start respecting your skills, career, and worth.
People don’t tend to value or appreciate what they get for free or cheap and their expectations will grow and purse strings tighten. You’ll attract the wrong clients which can end up knocking your confidence and leave you feeling undervalued.
When you charge your worth, your business will grow quicker and you’ll need less clients to hit your financial targets. It also improves your work/life balance because you have more income to do the things you want to do and you can work less hours to make the same money.
I can hold my hands up and am as guilty as anyone else for under charging and giving so much time and knowledge away for free. Over 50% of my working time is spent without earning income. While some of this work leads in indirect income, much doesn’t. It is important that whatever stage of your nail career you are – beginner; advanced or educator that you are charging your worth. You must evaluate what return you will get from this ‘free work’. There are many opportunities that will bring you indirect income and raise true awareness for your brand, there are others that will provide you no benefit and these are the ones you need to avoid.
Stop worrying about what your potential clients can or can’t afford. Everyone has different budgets and peoples’ finances aren’t your concern. Offer a wide range of services and different tiers of each service to suit client requirements, including budget. Nail enhancements can come as a one colour short length, or as different shapes, include glitter fades, hand painted art and so much more. The latter uses more products, takes more time and more skill so should be priced higher. Just like in a supermarket – there is a basics range, an average range and a luxury range. You would never expect to pick up an item from the luxury range and just pay the basic range price nor would you expect to receive it discounted or free, so why should this apply to nail services?
It is important to work smarter, not harder and the first step to achieving this is respecting your own worth.
Love Katie B x