As women entrepreneurs, we have proven our value in the business world in many ways. However, there’s one area in which many of us still struggle: discussing money. Whether it’s asking for what we’re worth, maintaining our integrity or gracefully navigating the world of sales, money conversations can often make us uncomfortable. In this article, I will explore why this discomfort (still) exists and provide actionable strategies for overcoming it.
1. Understanding Our Worth
One of the primary reasons women entrepreneurs may feel uncomfortable discussing money is the deeply ingrained societal conditioning that undervalues our contributions. Recognising our worth is crucial. We must acknowledge our unique skills, expertise and the value we bring to the table. We should embrace the knowledge that we deserve fair compensation for our efforts and refuse to settle for less. We also need to cultivate self-confidence by celebrating our achievements and seeking support from a network of like-minded women. It’s not selfish to ask for more, especially if our prices are too low to start with.
2. Preserving Integrity
Maintaining our integrity when discussing money is essential to building trust and credibility. Often, women feel pressured to compromise on their values to secure financial success. However, it’s crucial to remember that financial prosperity can coexist with ethical business practices. Clearly define your values and establish boundaries that align with them. Communicate transparently with clients, partners and investors, demonstrating that integrity is a non-negotiable aspect of your business. By staying true to our principles, we can build a strong foundation for long-term success.
3. Graceful Negotiation
Negotiating can be particularly challenging for women entrepreneurs, as societal expectations often portray assertiveness negatively. However, negotiation is a critical skill for financial success and for a thriving business. Focus on developing a negotiation style that is assertive yet graceful. Prepare and research before entering any negotiation, be confident in articulating the value you bring and remain flexible to find mutually beneficial outcomes. We are masters at practising active listening and empathy, ensuring that both parties feel heard and respected. With time and experience, negotiating will become more comfortable, enabling us to secure fair compensation for our work.
4. Asking for What We Deserve
Many women entrepreneurs struggle with asking for what they truly deserve. We fear being perceived as too demanding, masculine or aggressive. However, it’s vital to understand that asking for fair compensation is not only justified but necessary. Recognise that by undervaluing ourselves, we perpetuate the cycle of inequality, especially because money is power. Prioritise financial literacy and educate yourself about industry standards, market rates and then go beyond. Stretch yourself and develop a pricing structure that reflects the true value of your products or services. Practice self-advocacy and confidently articulate your worth, as if you’re advocating for a loved one. You deserve to have more financial freedom with your business.
5. Embracing the Art of Selling
For female entrepreneurs, the art of selling can be particularly challenging. The fear of being perceived as pushy or sales-focused often holds us back. However, selling is not about being aggressive; it’s about offering the value and benefits of our services. Shift your mindset from “selling” to “serving.” Focus on building genuine connections, understanding your customers’ needs and presenting your offerings as solutions. Embrace storytelling as a powerful tool to communicate your message effectively. By adopting a customer-centric approach and aligning your sales efforts with your values, you can sell with authenticity and grace.
In conclusion, we must overcome our discomfort in discussing money. By recognising our worth, preserving our integrity, embracing graceful negotiation, asking for what we deserve and redefining the art of selling, we can navigate financial conversations with confidence. Let us challenge societal norms and embrace our financial power, paving the way for future generations of women entrepreneurs.
Our success is not only about financial gain but also about creating a more equitable and inclusive business landscape. Together, we can break down barriers and thrive in the world of entrepreneurship.
What’s your experience with discussing money?
Business Coach for Female Entrepreneurs