{"id":5555,"date":"2013-10-13T14:00:00","date_gmt":"2013-10-13T18:00:00","guid":{"rendered":"https:\/\/www.wework.com\/creator\/?p=2806"},"modified":"2020-03-30T19:12:04","modified_gmt":"2020-03-30T23:12:04","slug":"3-challenges-every-business-owner-faces-sleep-doubt-pricing","status":"publish","type":"post","link":"https:\/\/www.wework.com\/ideas\/professional-development\/3-challenges-every-business-owner-faces-sleep-doubt-pricing","title":{"rendered":"Three challenges every business owner faces: sleep, doubt, and pricing"},"content":{"rendered":"<p>In this roundup of advice for small business, you\u2019ll find out why entrepreneurs shouldn\u2019t skimp on sleep, whether or not doubt is a good or bad thing, and how to charge what you&#8217;re really worth.<\/p>\n<h3>3 ways lack of sleep can hurt you<\/h3>\n<p>Sleep and business ownership often make pretty crappy bedfellows\u2014that\u2019s been one of the hard lessons of my life. It\u2019s led to a love-hate relationship with sleep\u2026 love sleeping, hate not getting it. For the few first businesses I involved myself with, I saw a lot of sunrises, but not the way you\u2019re supposed to.<\/p>\n<p>Being a zombie hurt, but I felt I had no choice, especially when a venture was a side-business. When else was I supposed to work? Plus, at night my mind would spin with ideas and worries, and the only way I could relax was to get up and work.<\/p>\n<p>But over the years, I would see the toll of sleep deprivation\u2014distraction, mistakes, the inability to count to ten. So I eventually made a serious effort to get enough shut-eye. It\u2019s still a struggle sometimes, which is why the following article caught my tired eye. If you\u2019ve ever needed an incentive to get a good night\u2019s sleep, check out:\u00a0<a href=\"http:\/\/www.thefiscaltimes.com\/Articles\/2013\/07\/16\/How-a-Bad-Nights-Sleep-Can-Derail-Your-Career#page1\" target=\"_blank\" rel=\"noopener noreferrer\">How a Bad Night\u2019s Sleep Can Screw You Up<\/a>.<\/p>\n<p><strong>Ever worry your business idea might not work?<\/strong><\/p>\n<p>If you\u2019ve ever worried that your business idea might not work, you\u2019ve got lots of company\u2014including Steve Jobs, George Lucas and Seth Godin, who famously said, \u201cIf I\u2019m not saying to myself, &#8216;This might not work\u2019 \u2026 then I haven\u2019t pushed myself hard enough.\u201d<\/p>\n<p>In <a href=\"http:\/\/www.stevenpressfield.com\/2013\/07\/this-might-not-work\/\" target=\"_blank\" rel=\"noopener noreferrer\">This Might Not Work<\/a>, Steven Pressfield, author of\u00a0<em>The Legend of Bagger Vance<\/em>\u00a0and\u00a0<em>The War of Art<\/em>, breaks down what he thinks Seth Godin meant by his statement. As someone who has worried countless times that the venture I\u2019m throwing my soul into might not work, I found this particularly inspirational.<\/p>\n<p><strong>One professional\u2019s journey to charge what he\u2019s really worth<\/strong><\/p>\n<p>If you\u2019ve followed <a href=\"http:\/\/www.freshbooks.com\/\">our blog<\/a> over the past few months, you\u2019ve no doubt noticed a certain theme\u2014<a href=\"http:\/\/www.freshbooks.com\/blog\/2013\/06\/12\/breakingthetimebarrier\/\">how to charge what you\u2019re really worth<\/a>. That\u2019s every service professional\u2019s challenge.<\/p>\n<p>So much of what you do for your clients draws on your ability to develop creative solutions. And if you\u2019ve taken the traditional road to pricing\u2014one based on billable hours\u2014you\u2019ve probably felt that it doesn\u2019t capture your true value. That\u2019s exactly how accountant Jason Blumer felt.\u00a0<em>The New York Times<\/em>\u00a0recently covered his determination to break away from time-based billing to charging his clients based on value. If you\u2019re looking for a little inspiration to make a similar move, I recommend reading <a href=\"http:\/\/www.nytimes.com\/2013\/08\/04\/magazine\/whats-an-idea-worth.html?\" target=\"_blank\" rel=\"noopener noreferrer\">What\u2019s an Idea Worth?<\/a>, especially if you face\u2014as those in the accounting world do\u2014price pressure from commoditized services.<\/p>\n<p>By the way, if you want to know how the concept of hourly billing dug its teeth into professional services, you\u2019ll enjoy the dip into history the post takes.<\/p>\n<p>And while we\u2019re on the topic of pricing history, let me throw in a fascinating value-pricing story I discovered on my recent vacation to Italy. As the story goes, after the famous 15th century artist Donatello presented his commissioned statue to his client, a Genoese merchant, the merchant complained that it was too expensive and offered to pay a price based on the time it took the artist to complete the work\u2014half a florin a day for a month. Donatello, who didn\u2019t take too kindly to this time-based billing approach to his artwork, smashed the statue to pieces.<\/p>\n<p>That got the attention of the client, who begged Donatello to redo the work, offering to pay through the nose. Too bad for him\u2014Donatello chose to look for better clients.<\/p>\n<p class=\"finalnote\">Editor&#8217;s note: This story originally <a href=\"http:\/\/www.freshbooks.com\/blog\/2013\/10\/08\/3-challenges-every-business-owner-faces-sleep-doubt-and-pricing\/\">appeared here<\/a> on the <a href=\"http:\/\/www.freshbooks.com\/blog\/\">Freshbooks blog<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this roundup of advice for small business, you\u2019ll find out why entrepreneurs shouldn\u2019t skimp on sleep, whether or not doubt is a good or bad thing, and how to charge what you&#8217;re really worth. 3 ways lack of sleep can hurt you Sleep and business ownership often make pretty crappy bedfellows\u2014that\u2019s been one of [&hellip;]<\/p>\n","protected":false},"author":937,"featured_media":2830,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43902],"tags":[],"class_list":["post-5555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-professional-development"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.4 (Yoast SEO v25.3.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3 challenges every business owner faces: sleep, doubt and pricing<\/title>\n<meta name=\"description\" content=\"Why entrepreneurs shouldn\u2019t skimp on sleep, whether or not doubt is a good or bad thing, and how to charge what you&#039;re really worth.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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