Dream Catcher

Small business owners must choose their words carefully when describing what they do. The consumer or customer associates a skill level and product value when he or she hears certain words. Words enable the listener or reader to draw a picture in his or her mind based on his or her life experiences.

When a small business owner is developing his presence online or offline through social media, marketing, or public appearances the word he or she uses to describe his or her profession will result in his or her earning potential.

Below are three examples of how choosing one word over another will put more money in the small business owners’ bank account.

1. Artist or crafter. When a consumer hears the word crafter he or she thinks of someone who sells his or her products at flea markets and craft fairs. The consumer often sees this as a hobby for someone who is retired or just trying to earn a few extra dollars. They assume the person is self taught and the value of the item is dirt cheap. People attend craft fairs looking for a steal. When the consumer hears the word artists he or she thinks high ticket item or one of a kind. He or she automatically thinks the artist has invested heavily in his or her education and the consumer is willing to pay a premium price for the item. If you are selling quilts or handmade items you need to decide before you start your business if you are a crafter or an artist and brand yourself accordingly. An artist will be able to earn more money for his or her quilts vice the small business owner that says he or she is a crafter and sells his or her items at a craft fair.

2. Cake designer or cake decorator. A person touting him or herself as a cake decorator will not command as much money as a cake designer. A cake decorator decorates cakes that are often designed by someone else. A cake designer designs the cakes and may decorate them. A cake designer is an artist. He or she will command more for a cake that is one of a kind because of the exclusitivity that the consumer pictures in his or her head. A customer will be willing to pay more for a one of a kind cake and the bragging rights that goes with it. Anyone can purchase a cake decorated by someone at a local grocery or discount store. But, not everyone purchases a cake from a cake designer. If you are a cake designer make sure you are using the word designer to sell your art.

3. Girl Friday, Secretary, Executive Assistant or Virtual Assistant. The word secretary will have the reader or listener picturing a woman who types and answers telephones. She will typically make minimum wage. A Girl Friday will be thought of as someone who runs errands, types, answers telephones, makes reservations and does whatever is needed to assist the boss. The term Executive Assistant is often thought of as the behind the scenes person who assists the boss. Guess who earns more money? If you guessed Executive Assistant you are right. All three typically do the same job in today’s work place. They all demand being discrete and professional. Yet, the Executive Assistant demands and gets paid the higher salary. If you enjoy being a Girl Friday or a secretary I highly suggest you change your title to Virtual Assistant or Executive Assistant so that you can demand top dollar. Many Virtual Assistants earn $60-90 per hour. Virtual Assistants may work for more than one person and are often a business owner since they are an independent contractor.

Consumers are not aware of the stereotypes they apply to various professions. But, they do know what they are willing to spend when they are shopping at a flea market or craft fair. They know what they will pay for a cake at a discount store and why they will seek out a cake designer at a bakery. Small business owners also fall into the trap of paying a certain wage for a secretary regardless if he or she is performing the tasks of an Executive Assistant. Remember, specialists command more money. Choose your words carefully when describing what you do. Do not sell yourself short by using the wrong word and communicating the wrong image to the customer.

Jaynine Howard is a retired United States Marine and former psychotherapists. She is the owner of Dream Catcher Business & Life Coaching. Founded in 2006, Dream Catcher Business & Life Coaching helps business owners, nonprofits, and individuals nationally and internationally turn their dreams into wealth and success. Coach Jaynine and her team of associate coaches will help you jump start your business and life through business, career, and life coaching. Jaynine is a member of the Jacksonville-Onslow Chamber of Commerce, the Carteret Chamber of Commerce, the American Psychological Association, 24/7 Coaching, and Coachville. You can learn more about Dream Catcher Business & Life Coaching by visiting http://coachjaynine.com/blog/ or by calling 910-539-2810.

I encountered a new type of Snatcher and Grabber that can be very harmful to your business. Remember, the Snatcher and Grabber is someone who wants something for free or nearly free. This past week I had a business owner ask for a quote on training three people at their business. I offered to work with the three employees only charging what I typically charge for larger group coaching sessions because she was a referral. I was actually a bit mad at myself for quoting the low price. The person came back with a counter offer wanting to then only pay to have one person trained. Ding Ding Ding. I saw exactly what this person was going to do. She was going snatch and grab. She wanted to learn my business secrets and then train her two employees thus saving herself money.
I countered her offer by educating her on the price of my one on one coaching fee and explaining the fee quoted was for group coaching. I also explained that if she wanted to use my materials to train her employees she would need to pay the licensing fee rate for my intellectual property.

After several email exchanges back and forth where I did not lower my fee I stopped hearing from the business owner. I do not expect to hear from her again. She did not understand the value I was bringing to her business. She wanted something of value for free or nearly free. She perceived the value of what I was offering her as very low and she was not willing to pay a fair market price for my intellectual property.

As a business owner, you do not need to justify your fees to anyone but you. However, you must know what it costs to produce a product. This includes the behind the scenes things that many people do not consider or see. Do you know your walk away point? Do you know the bottom line price you will sell a product or service? Are you prepared to walk away from a sale? Remember, you are a business owner. If you give away your products and service for free or at a ridiculous low price people will not see the true value of what you offer. They only see their perceived value.

Perceived value is what the person buying your product or service sees as the value to him or her. The true value of your product or service is determined by several factors. What pain does your product or service remove for the consumer? What is the cost to the consumer if he or she does not purchase your product or service? What does it cost you to produce your product or service?

When approached by the Snatcher and Grabber that does not understand the value of your product or service you must know when you will walk away and not give away your product or services. Do not feel bullied or pressured to give a discount.

Jaynine Howard is a retired United States Marine and former psychotherapist. She is the owner of Dream Catcher Business & Life Coaching. Founded in 2006, Dream Catcher Business & Life Coaching helps business owners, nonprofits, and individuals nationally and internationally turn their dreams into wealth and success. Coach Jaynine and her team of associate coaches will help you jump start your business and life through business, career, and life coaching. Jaynine is a member of the Jacksonville-Onslow Chamber of Commerce, the Carteret Chamber of Commerce, the American Psychological Association, 24/7 Coaching, and Coachville.  You can download your free ecourse My 5 Secrets to Networking http://networkingdetox.com/.

A business owner who does not establish boundaries with clients is essentially a convenience store that is open 24/7. Does your phone ring on holidays, weekends, or after hours? Do your clients purchase a small package or service but demand the items included in the pricier package? Business owners must learn to establish boundaries.

Below are five benefits for establishing boundaries.

Five Benefits of Establishing Boundaries

1. No Miscommunication – the first time you let the offender get their way by demanding services they did not pay for they will think it is ok. Stop it.

2. No loss of sleep – when you get interrupted during nap time or bedtime you lose sleep which reduces your creativity and productivity.

3. Less stress – boundary violators cause you unneeded stress due to being angry at being taken advantage of.

4. No loss of income – do not give away a product or service for free. Also, review number two above. When your creativity or productivity is interrupted you are losing money.

5. You are treated with respect.

Now, I know it is easier said than done. But you must make it a habit to establish boundaries early on in the business relationship.

Establish Boundaries

1. Post office hours on your door, on your sales literature, and in your contracts.

2. Do not answer the phone or return an email that is not an emergency except during normal business hours.

3. Firmly but politely verbally communicate to the offender that he or she has crossed the boundary.  Be prepared with a script that you have practiced  or can email that lets the person know what product or service they purchased and that they must pay extra for the added services they are requesting. Do not give your product or services away for free.

Sometimes it is hard for our clients and customers to realize they are not our only client or customer. When you establish boundaries with your clients and customers everyone will understand the rules of the game. Remember, your time is money. Business owners think billable hours. Your afterhour’s time is your afterhour’s time. Unless you advertise that you are on call 24/7 you should not be nor do you have to be. Do not get in the habit of being available 24/7. You need time to unwind and recharge your batteries so that you can start the next day offering great products and customer service. Business owners you must establish boundaries with clients so that you can grow your business.

Jaynine Howard is a retired United States Marine and former psychotherapist. She is the owner of Dream Catcher Business & Life Coaching. Founded in 2006, Dream Catcher Business & Life Coaching helps business owners, nonprofits, and individuals nationally and internationally turn their dreams into wealth and success. Coach Jaynine and her team of associate coaches will help you jump start your business and life through business, career, and life coaching. Jaynine is a member of the Jacksonville-Onslow Chamber of Commerce, the Carteret Chamber of Commerce, the American Psychological Association, 24/7 Coaching, and Coachville.  You can download your free ecourse My 5 Secrets to Networking http://networkingdetox.com/.

Communication is present in everything we do whether it is verbal or nonverbal. Business owners often get so caught up in running their business that they fail to make time to spend quality time with their loved ones. I want to remind you that what you are NOT saying may be misinterpreted by your family and friends. Does your spouse or children really understand what you are doing when you are not at home? Do they think networking events are fun gatherings with friends? Do they view your presence on social media as frittering away time?

When you work from home it is easy to work on your business every waking moment. You may even wake up early to get a jump start on your business. But, what message is this sending to your spouse? Is he or she interpreting your devotion to your business as an insult? Are you hurting his or her feelings and making him or her feel left out? Are you making your spouse feel inferior? Are you making your spouse feel like he or she is not a good provider? Have you stopped to think about what nonverbal message you are sending?

When was the last time you sat down with your spouse and verbally communicated what was going on in your business? When was the last time you asked your spouse if he or she was bothered by the amount of time you spend on your business?

Business owners, the keys to having a healthy marriage are communication; verbally and nonverbally.

My three tips below will help you bring balance to your life so as a business owner can having a healthy marriage.

1. Boundaries: Sit down with your spouse and discuss the hours you really need to spend running your business. Verbally communicate why you are working so hard so that the other person knows you are not avoiding him or her. Together establish boundaries for your business. This can be in the form of establishing work hours that you both honor. You may want to establish a set time to eat meals together. I suggest grabbing the calendar and planning date night and vacation time so that you do not schedule clients or conferences during that time. It may seem boring or callous to schedule time with your family but as a business owner you know that if you do not you will fill that time with client sessions or time working on your business. It takes a while to break old habits. Your new habit is to start spending time with your family if you have been a workaholic. You may want to establish a bedtime ritual or plan on spending a morning in bed together instead of jumping out of bed early to start working.

2. Actively Listen: Part of communication is actively listening to the other person. Do you really focus your attention on what your partner is saying or is your mind focusing on what you need to be doing? When your spouse or child is speaking to you I want you to disengage from business mode and actively listen to what he or she is saying. This includes paying attention to their body language. He or she may say he or she is ok if you cancel date night to meet with a client but his or her body language may be saying the opposite.

3. Respect Your Spouse & Family: Social media is one of my secret weapons to growing my business. However, respect your spouse and children’s wishes on how much you share about them and your personal life online. Again, sit down and verbally communicate. Ask your family members if they like or do not like what you are saying online. Social media is a great way to promote your business and build rapport with clients. But, do not do so at the expense of your family and friends. If your spouse or children do not want to be mentioned in your blog or social media updates then do not include them in your status updates. However, remember you will never know what your spouse or children are thinking if you do not ask them. Communicate!

Verbal and nonverbal communication are key to balancing being a business owner and having a happy relationship with your spouse and children. You must ask the tough questions. You must ask for feedback. It is ok to ask your family members if they feel ignored because of the amount of time you spend growing your business. I challenge you to go employ active listening while sitting down with your family and discussing their feelings and attitude about the amount of time you spend growing your business. Do not assume that your spouse and children see you as driven toward succeeding. They may think you do not want to spend time with them. Again, communicate, communicate, communicate.

Jaynine Howard is a retired United States Marine and former psychotherapists. She is the owner of Dream Catcher Business & Life Coaching. Founded in 2006, Dream Catcher Business & Life Coaching helps business owners, nonprofits, and individuals nationally and internationally turn their dreams into wealth and success. Coach Jaynine and her team of associate coaches will help you jump start your business and life through business, career, and life coaching. Jaynine is a member of the Jacksonville-Onslow Chamber of Commerce, the Carteret Chamber of Commerce, the American Psychological Association, 24/7 Coaching, and Coachville. You can download your free ecourse Stop the Snatchers and Grabbers at http://coachjaynine.com/blog/.