Money and Entrepreneurs

Tips from Cindy Ratzlaff

  1. What is the transformation I am offering to clients, customers, buyers?
  2. What would I personally be willing to pay for that transformation?
  3. How many years of my business experience, training and successful client work went into being able to offer this transformation?
  4. What is the cost to create and deliver that transformation to a client through this product or service? (creation, packaging, shipping or other technical factors in creation)
  5. Is there a already a market for what I am about to offer or do I need to consider the cost of educating my current customer about the need for this product?
  6. Will I need to acquire new customers or will my current client base be my primary desired end user?
  7. How many units of this product must I sell in order for me to break even and/or earn a profit? (units can be hours of your time for coaches)
  8. Is there competition for this product or service? If yes, what do they charge? Am I willing and able to compete for customers at or below that fee?

Once I have the answer to these questions, I decide on a fee and move on to the marketing phase of my launch.

Many entrepreneurs struggle with charging what they are worth for their own advice, knowledge and experience. The whole question of worth is wrapped up in feelings of fear, doubt, lack, and even empathy for potential clients.  These feelings make it is likely they’ll struggle when setting or raising their prices. Second guessing the worth of a service or the ability of your potential customer base to pay your fee can leave a service provider doubting themselves and that doubt can be communicated to clients and potential clients, leaving them feeling unsure, confused and wondering if they’ve made a good investment.

Give your clients the gift of your confidence, clarity and integrity by setting your fees in advance of your discussions with them. Are you charging what you are worth and feeling good about it?

cindyratzlaff.com

Bio | Len D. Henry

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Recent Zoomer lister: Canada’s Top 45 Over 45, Len D. Henry is recognized for his vast experience and successful expertise in live, film, television and online production. As an on-air personality, he’s served as fashion expert on W’s How To Look Good Naked, host and producer of canoe.tv’s online, twenty-episode, underground style series, StreetSeen, and most recently, host/mentor/fashion expert on Style Network’s Wedding Dress Wars. Behind the scenes, as creative director and producer, he’s traveled extensively across Canada, the US, Europe and the Far East, creating and presenting promotions and events for a long list of major lifestyle brands and publications. Henry has been awarded repeatedly for his groundbreaking work, by the likes of MuchMusic’s MMVAs, The International Council of Shopping Centers (ICSC), BravoFACT!, and VideoFACT.

Henry is the visionary founder and a principal at fashcam Corp. – parent company to fashcam™ a groundbreaking, cross-promotion concept mandated to assist Canadian fashion designers employ film and technology to further the promotion of their clothes worldwide. He has since grown the company to also include fashcamCreative, a top agency for the production and implementation of stylish, eye-catching contemporary presentations for products, people and events. Under Henry, fashcamCreative has helmed the brand development for the feature documentary, RasTa (starring Donisha Prendergast, granddaughter of Bob Marley); the direction and production of events and presentations for Aveda Canada and the brand direction for

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Toronto’s yearlong Jamaica 50 Celebrations as well as the creative direction and production of its pinnacle event, the Jamaica Land We Love GALA.

Henry understands packaging and branding. He has spent years making his mark in the pop culture and lifestyle industries – traveled extensively across Canada, the US, Europe and the Far East, creating events for the likes of: Joseph Abboud, Absolut, Aveda, Benneton, The City of Toronto, Civello Salons, Esprit, The Hong Kong Trade Development Council, The Hudson’s Bay Company, La Senza, Northbound Leather, Lee, Levis, Parasuco, Puma, Paul Smith, Roger Edwards Sport, Smirnoff, The Toronto Fashion Incubator, Zellers; Canadian Living, Elle, GQ, Fashion and Flare magazines; FashionTelevision and IdeaCITY.

A maestro of grand scale productions, his notable work include several Canadian ready-to-wear collections; StreetStyle, a two-day alternative fashion street festival; annual awards shows: The BBPA’s Harry Jerome AwardsWomen in Film and Television Toronto’s Crystal Awards; and one-offs such as South African Women for Women’s 10th Anniversary Gala, the Canadian edition of the Smirnoff Fashion International Awards and Canadian Living Magazine’s 30th Anniversary Celebration.

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Making of “Smokin’ Lounge”

Fashion Television coverage of the making of Hoax Couture’s “Smokin’ Lounge” starring Molly Johnson — and its Reel World Film Festival premiere.

Starring; Molly Johnson
Clothing: Hoax Couture
Director: Mateo Gues
Producer: Andy Marshall
Cinematographer: Colin Akoon