comments

It's all so true and sounds just like my own experience, Nancy! No, not a road to riches-- it's been a lot of work. Ultimately, it is simply an additional revenue stream, which is awesome! And as usual, you are amazing.

I love this article. It reminds me to use what I've already got- an awesome on line community that gets the value of face-to-face. I am struggling with finding my balance using social media, and after reading this it made me think that I need to spend more time here, in a community that really has it right! Who knows where I'll go with Twitter etc etc, but Biznik is far more tangible and valuable in the here and now!

These are great resources for those of us who are trying to figure this out. Thanks! (I was thrilled that my twitter updates my facebook, but I guess with some of these tools it could be even simpler.) Interesting that www.hellotxt doesn't interface with MySpace.

Great article. I admit that sometimes I do my own editing, which I realize is a no-no. Any opinions on text newseltters vs. HTML newsletters?

I just signed up- "Mikelann"-- big suprise, is my name. It helps to have a weird name I guess. But I haven't figured it out yet. I don't even know how to follow people or tell them I am "tweeting". I was thinking of putting out a "tweet" once a day- a single short tip for earning your worth. Does that make sense for something like twitter?

Financial planners are one of the most common referrals I make, as a money coach. I love Debbie Whitlock.

I would also recommend [REMOVED by Admin]* - he is a true fee-based planner, and they are a rare-breed. He is a CFP who does no commissions.

*FROM ADMIN: The recipient of Mikelann's recommendation asked that his name be removed by request from the State Department of Finance because it violates their policy on testimonials. Please contact Mikelann directly, if you're interested in learning his name.

Wow- Great article, Karrie. This info can be used for all kinds of events. And it's great marketing information in general. Too often people put together a great event and then wait for people to simply show up. If you invest your time into creating a great event, invest your time in getting people there. Thanks!

Wow, Rachel, You have done a HUGE service for us here! I've been aware of some of the coming changes, but it has been indeed confusing. The "Registered Counselor" doesn't hold a lot of water, but it is all that has been available for many who are not in traditional therapy fields. I'm worried how all this will apply to the fields of coaching, though the system really did need to be changed. Thank you, thank you for your work on this!!

I like it, Rachel! Especially the first one- research. That is why Biznik is so cool- you can actually read about people ahead of time. Good reminder!

Last time I went to an event, I knew I needed to hire a bookkeeper, so I looked at everyone who was coming and found a bookkeeper who had RSVP'd. Then I made a bee-line for her and we had a great conversation. Then I hired her! (Shandra Rose) It was a great use of Biznik networking.

Mikelann

I wanted to point out that one of the values of biznik is not just in helping me MAKE money but also in helping me spend my money wisely. I am increasingly using biznik as one-stop-shopping. When I needed an accountant, I looked here first. When I needed a marketing consultant, I looked here first. Networking is useful for so many things. I'm very grateful for this community!

I'm still stuck way back where Lara said only 100 people were paying members of biznik. Maybe I misunderstood? I pay a lot more for networking than $10, and the value is so amazing in this community! In my humble opinion, I think a basic biznik membership should cost.

Having got that off my chest, I like what Karrie said with the various levels of charging. Obviously, people are not hosting events to make tons of money. But many are teaching valuable skills. Relationships and networking are key, but it seems like some events are really about educating indies about important business issues, and there is a lot of value in this. (People do value what they pay for, but this is an interesting community that often seems to try to prove that is not the case. It sometimes feels to me like many people here feel money in and of itself is bad, that it taints things. It I realize this is a hot issue, but I sense a lot of internal conflict that people have about money.)

And I like the idea of charging a nominal $5 for all events. Even if you can't make it, you won't lose that much money. I think running Biznik costs a LOT more then people realize, and if there isn't more financial support for what they have created, it won't survive.

I love Mosaic-- The Tully's in Wally-World gets too full. I couldn't beleive it when I found Mosaic. Good coffee, too.

Yes, it was great! I presented at 10am, and the audience was great! Biznik has such cool, enlightened people that I knew I could include some stuff on gender and how can influence rate-setting and they would enjoy it. There are some pretty amazing people that I think deserve to make more money. Go for it! I made a lot of great connections, and even bought a killer pair of rain boots from a small business owner. So cool.

I am doing an all day seminar for women on June 8th, How to Set and Raise Your Rates with Confidence. Here is the link: http://www.womenearning.com/how-to-set-and-raise-your-rates-with-confidence/

Thanks for the nice words, Nancy!

I've thought a lot about this thread, since I teach some of this, and for me, it still comes back to that "resentment number" that I write about. I think we all have to ask ourselves, "How much money do I need to be making from my clients in order to not RESENT doing the work?" This is similiar to our "bottom line", but gets at it in a more emotional way. (This question often hits us in our gut! I advise people to really meditate on this number.) Of course we want to make a lot more than that, but the goal is to never go under your "resentment number".

If, for example, you have to drive to reach your clients, how much do you need to really charge them in order to not resent the entire time it takes to work with them? If they are very stressful to work with, does that change your resentment number?

I posted over in the blog about ?values-based pricing?. But I want to add here something about price resistance. I just wrote a workbook called ?How to set and raise your rates?a woman?s guide?. It addresses a lot of the issues that women have with setting rates and how to do it. (Though I don?t address bidding on technical projects.) But suffice it to say, if everyone can afford you, you are NOT charging enough money. And if no one can afford you, you are charging too much. So the general recommendation is that if you have been in business less then 5 years, you want about 20% price resistance. This means that about 20% of people should NOT be able to afford you. Yes, that is right?20%. You?ll make more money from the remaining 80% then if you take everyone. So if you?ve got very low price resistance (everyone can afford you!) raise your fees until about 20% can?t afford you. Of course if you?ve been in business a long time, you may make so much money from a few clients, your price resistance may be a lot higher. Harry Beckwith, author of Selling the Invisible, writes really well about this.

Remember, you don?t want to be the Wal-Mart of your niche. People value what they pay for!