A few days ago I was mindlessly doomscrolling on Instagram, as you do, when I came across a quote that read:
"If the feminist running the business isn't flourishing, it's not a feminist business"
- Lilia Graue (via Kelly Diehls)
Ouch. That one really hit home.
Now don't get me wrong, it's not that I am miserable and broke (withering - I googled it, that's the opposite of flourishing)- I absolutely love my business and it has supported me financially for a good few years now. But flourishing isn't how I'd describe the situation. 🤔
In fact, I've learned a few hard lessons about pricing over the past months and I want to share them with you, because I believe we should be more transparent and honest in the way we talk about money in the digital nomad and online business space.
The usual "advice" when it comes to pricing is to "charge what you're worth", but that's never sat well with me. Not only is it kinda meaningless and arbitrary, like "ok, but what should I actually charge"? 🤷♀️
But it's also a very capitalist way of thinking about a human being's worth as attached to a monetary amount. If someone earns $200 are they worth 10x as someone who earns $20? 😕
The truth is, figuring out your pricing and feeling confident about it is part of every business owner's journey. So how do you figure out your pricing then? For me it was a combination of things.
First, I worked with a strategist this year who challenged me to calculate what it actually costs to run my business - not marketing, growth etc, just the day to day programming of my membership, running events, community management etc.
This forced me to take into account my own time, because what if I had to hire someone to replace myself for a while? 🕐 My labour isn't free, but I've treated it as such for the longest time.
And I'm not proud of this - again, can it be a feminist business if I don't live up to my own values, one of which is that all women deserve to be paid well?
The second thing was that my membership (which is my core business) has completely changed since I first launched. And I'm not talking about the new branding and name that'll be revealed soon. I mean the core model has changed from a content focus to a community focus, and provides much more value than when I first started it 4 years ago.
And third, I started a virtual coworking space 4 years ago, but since the pandemic virtual coworking communities have been shooting up like mushrooms. 🍄 And I realised I was massively undercharging.
Ok, I already knew that $27 for everything we offer was ridiculous, but when I saw other platforms charging £7.50 for a single coworking session 😲 (never mind Feedback sessions, skill shares, workshops, social events etc, like we host every month), that was the last straw. I knew that I wouldn't be taken seriously anymore.
But the final reason for me to start charging what the community is worth was that part of DNG's vision is the belief that businesses are a force for good in the world. That means that giving back should be strongly embedded into our business model - and if DNG is flourishing, we can support projects that help other women flourish too. 🙌
To do that, I am signing up with B1G1, a project that helps businesses support the UN's Sustainable Development Goals (SDG's) through their everyday activity. (for example, every time you sign a new client, you provide a business loan to a woman in Nepal).
I will be picking the exact causes together with my team member Georgia and my members and will be sharing them with you soon. 😃
So apparently I've been hiding under a rock, because it took me 3 months to realise that all 7 seasons of The Golden Girls are now streaming on Disney+! 🥳 Well, that's my winter sorted.
And sure, nearly 35 years later, some of it has aged a bit, but it's still an absolute masterpiece of a show - and all about female friendship. But if you're not convinced yet, then check out their iconic style and I bet you'll want to binge them all!
Have a lovely weekend and stay safe friends!
- Jenny 🦩
P.S. This email contains affiliate links, which means you don't pay any extra but a small % goes to DNG if you buy through our link (thank you for supporting us!)
Digital Nomad Girls Ltd | Kemp House 160 City Road London, EC1V 2NX, London, United Kingdom
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