Moms In Business - Eight Tips to Stop Underselling Yourself Now!

Eight Tips to Stop Underselling Yourself Now!

by Mikelann Valterra
Click here for a printable version.

Article Sponsors

~~~~~~~~~~~~~~~~

Temporary Ads by Google

Your Ad Could be Here

~~~~~~~~~~~~~~~~

Are you ready to stop underselling yourself?

Would you like to make more money? Then read on! It really is possible to earn at your potential and enjoy the freedom and security that making good money provides.

1. Resist perfectionism! Many women hold themselves back because they feel they are not ready to go to the next level. Once they are perfect (have the right amount of experience, the correct degree, and have mastered their current job 100%) then they will consider pushing upward. Men, on the other hand, are far more likely to go for it, even if they are not completely ready. Dont wait until you are perfect. It is an unattainable goal. Ask yourself: Am I good enough right now to take my business to the next level?

2. Increase your risk tolerance. Women are notorious for not risking enough. We wait until we are ready, until we feel comfortable, or until it is safe to proceed. We need to take more chances in the workplace. Try things that might make you feel uncomfortable volunteer for a plumb assignment before a male colleague sweeps in, or ask for things that are not necessarily advertised as available. It will be difficult to rise in your career if you have a hard time taking risks. Start by exercising your risk muscle in small ways, and your ability to risk will grow.

3. Raise your pay expectations. Its fairly simple. If you expect more money, you are likely to get more money. Women need to set their pay expectations higher. Too often they are satisfied with making money that is below their true earning potential. Part of this is because we feel we don't deserve more and part of this is because we dont know the objective value of our work. Try this to raise your expectations: find out what other people earn who do what you do by looking at http://www.salary.com/, or other salary websites. If you are self-employed, make a series of anonymous rate-checking calls. What you find might surprise you. Expect more.

4. Examine your feelings about the wealthy. Many people are raised with a lot of negativity about wealthy people and wealth in general. While this may have been a form of sour grapes on our parent's part, when we grow up hearing the wealthy are greedy, insensitive, or feel superior to us, it makes it difficult to welcome wealth in our own lives. Subconsciously, we would never let ourselves become that which we despise. Try this: look for positive examples of wealth in the media. Find examples of people who are doing good things with their money. This will help you change your associations to wealth.

5. Fight the Romance Myth. The Romance Myth is the myth that we, as women, will be taken care of. If we put our families first, and sacrifice our personal ambitions and goals, we will be taken care of financially, both now and in retirement. We don't have to focus on maximizing our earning power. With half of all marriages ending in divorce, we must address this thinking. By falling prey to this myth, we put ourselves at terrible risk, because when Prince Charming evaporates, we are left holding the pieces. Don't loose sight of your career, even if you are out of the workforce for a while with small children. Stay in touch with colleagues, take classes, and stay updated in your field.

6. Learn how to negotiate. This is a learnable skill! Just because you have never negotiated in the past doesnt mean you cant learn to negotiate and even become comfortable with it. It can be as simple as just asking for more. The next time you are offered money, practice responding: Well, because of this [skill required, hours required, experience required], it feels like [$60,000] would be more appropriate. See how they respond. Negotiating is merely a conversation and there is no reason why it cant be win-win.

7. Know how much money you need to make. Its amazing how many people run around saying I need to make more money! But how much more? The clearer the goal, the greater the probability you will achieve it. If you know exactly how much money you need to live life the way you want, you are far more likely to earn that amount. E-mail me at Mikelann@womenearning.com, if you would like an excel-based earnings plan to work with. (This concept is explained in my Why Women Earn Less book.)

8. Say no to debt. Debt creates the illusion that there is more money available in our lives than what we earn. Many people use credit cards indiscriminately here and there, and this added income can stave off the dreaded question of whether we are making enough money or not. Image not having the ability to borrow money from any source at any time. What would happen? Some people would be very stressed, because they would be faced with the fact that they werent earning enough money. But facing this is exactly what we must do. When we have access to debt (or assets we can draw on whenever we like) we have little incentive to maximize our earning potential. Live on what you earn. Say no to debt.

Mikelann Valterra

Women's Earning Institute

Mikelann Valterra is the founder of the Women's Earning Institute and the author of the book, Why Women Earn Less: How to Make What You're Really Worth and the workbook, How to Set and Raise Your Rates.

As a specialist in earning issues, she speaks and consults widely on how to overcome self-sabotaging beliefs about money. From KOMO News 4 to the Chicago Tribune, she talks about transforming one's relationship to money, and how women can earn at their potential.

www.womenearning.com.

2006, Mikelann R. Valterra and the Womens Earning Institute. Empowering professional women to earn what theyre really worth, www.womenearning.com.
Permission is granted to reprint the above article in its entirety, provided no reprints are sent in conjunction with unsolicited bulk email, no fee or other value is exchanged, no changes are made to the article, and the by-line is left intact.

Originally Posted: Feb 1, 2010 at 1:57 PM
Last Updated: Feb 1, 2010 at 5:57 AM
-- Current Rating: 5 of 5
Click here for a printable version.