024 Find the $50K Hiding in Plain Sight in Your Business

I list out 10 places I look in my clients’ Profit and Losses, while I cross-reference their calendar, to find more than $200,000. Of course, most people are not leaving money on the table in all ten of these places. But it’s not uncommon for me to have clients who are leaving $75,000 on the table, every year. 

Easy targets are areas around unclear or weak boundaries: friends-and-family discounts, last-minute cancellations, and scope creep. 

Another place to look is pricing: many of my clients have not increased their rates in years – not just to cover inflation and cost of living increase, but to reflect their increase in value as their skills grow. Women also tend to undervalue their services by 28% compared to men who do the same work, according to a recent study by Freshbooks. 

In a recent article, Natalie Eckdahl, host of the Biz Chix podcast, discussed how women entrepreneurs are creating their own glass ceiling when it comes to rates – that women themselves set. 

Raising your rates to reflect the value you offer, either in services or in RFPs, is the single biggest lever for finding $50K hiding in plain sight in your business.