Having Service Clarity Avoids You Getting Paid in Macarons!

Yes, you read that right! I got paid with a box of macarons for one of my first consulting jobs when I embarked out on my own eight years ago! ??

Two months after I walked out of the last (of the first four) businesses I co-founded, I was focused solely on finishing my doctoral thesis before my saved funds ran out. An acquaintance called, offering a consulting opportunity in corporate communications for a real estate client. Caught off guard, unprepared with my rates, I accepted his proposal to work for free during the pitch process, with the promise of discussing my compensation if they won the job.

Reflecting on this, I realized my mistake: I didn't say NO to working for free!

I offered my time, knowledge, and effort for free because I felt broken and consumed post my inaugural entrepreneurial journey. I hadn't taken the time to define my scope of services or associated fees. I felt flattered that someone valued me, despite already having shared innovative marketing insights with him months earlier.

After hours of consulting, reviewing presentations, and attending meetings, they didn’t get the job, and I didn’t get paid. A few days later, I received a small box of 12 macarons as a thank-you gift. I love macarons, but that wasn’t proper compensation for my services.

This experience taught me a valuable lesson about service clarity and self-worth. It took a year and several similar experiences beyond that point to appreciate my worth and develop my code of conduct:

1. Clarity on Scope of Services: Know exactly what you offer.

2. Transparency on Fees: Be clear and upfront about your rates.

3. Self-Advocacy: Stand up for your value and worth.

4. Selective Engagement: Work only with those who respect your value and share your energy.

Foundational Strategy Components?

For any business, understanding the fundamentals of strategy is key. This includes defining your vision, mission, target market, and competitive advantage. Equally important is the revenue model—the blueprint for how your business will make money. It outlines the value you offer, your pricing strategy, sales channels, and revenue streams.

Why the Revenue Model is Important

1. Guides Business Decisions: It helps you make as-informed-as-possible choices about product development, marketing, and operations.

2. Attracts Investors: A clear revenue model is essential for securing funding, as it demonstrates how your business will generate profits - especially important point for startups.

3. Sustainability: Ensures that your business has a viable plan to generate revenue, covering costs and ensuring long-term success.

4. Adaptability: Allows you to pivot and adapt to market changes while maintaining financial stability.?

Having service clarity and a foundational strategy for your business, whether you're a solopreneur, startup, or SME, is crucial. Define your revenue model and be proactive in your approach to avoid being caught off guard. Doing your homework ensures you're prepared and ready rather than reactive and scrambling.

Are you clear on your services and your value-added?

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