Hi! I’m Stephanie Breedlove, Co-Founder of Care.com HomePay, Author and Angel Investor.
I absolutely adore taking an idea and giving it life in the form a business, then leading it to its full potential. Nothing is more fun. (Seriously!) I’d love for every woman who wants to start her own business to say the same thing, so here I am, mentoring millennial entrepreneurs. When I’m not working, I like to recharge and head outdoors to hike, bike, or stand up paddle board!
Is that list of business news and trending articles you’ve tagged still unread? I get it. Allow me to help. Take a couple minutes to read my summary of articles serving the most pertinent, actionable business topics. Or, take 10 minutes to read the full article, and put another brick on the foundation of your growing career.
This Week’s Must-Read:
Who it’s for:
Every woman entrepreneur – whether you are solo or are part of a founding team.
Why it’s important:
One of the best ways to learn is through stories and real-life examples. This is a fantastic “See It to Be It” story. It will stick with you and be a strong reminder of how important it is to stand behind your worth when you feel compelled to settle.
Manar is a serial entrepreneur who started her first business at 22. She was perceived as too inexperienced to work with at this young age – a logical hurdle. She is now many years down the road and is still facing the same challenges. She’s not 22 anymore, so what’s the issue? It seems that being a woman is presenting the hurdle. Here’s her story and advice:
A few months ago, Manar was approached by a potential client for a proposal. They had a fruitful first meeting, and she went to work on a proposal for her services. Upon receipt of the detailed proposal, the potential client called and acted very alarmed. He stated that her fees were too high and that it wasn’t necessary for her to quote such a “large number.” Confused at this statement, she asked him to provide more context (a very smart communication tactic). He shared that as a woman with a husband earning a good living, she didn’t need to quote such high fees for her services. Ouch.
Here’s the “See It to Be It” part of the story: She informed the prospective client that she was charging fairly for the depth of expertise, scope of work and quality of service, and the total income of her family had nothing to do with her service fees. While she lost the account, she stood up for her principles and most likely enhanced her long-term image of quality and professionalism.
Top Take-Away/Final Thought: When faced with the ask to discount fees, many female entrepreneurs feel they need to adjust, or are uncomfortable negotiating and/or standing their ground. Grow the knowledge and skills needed to defend your expertise, quality and pricing. No pain, no gain. You are worth every penny.
Here are actionable tips for becoming more like Manar. Enjoy!