• nicolejessicacoggan

How To Give Yourself A Pay Rise

Increase Your Income Challenges

Payrise Time

This week the focus is on what you can do to increase your income. I have a whole bunch of challenges that are going to help you out with this but to get specific this week is about pay rises.

There are two ways to do that.

If you work for someone else:

If you have a job, it’s time to ask for a pay rise. To do this, you need to know what value you bring and your performance has to be great. If you slack off at work and the boss hates you, it’s a waste of everyone’s time.

Make a list of the value you bring to the company and email your boss to give them the heads up that you want to meet with them to discuss your pay rate. Once the meeting is arranged, ask for what you want, and list the reasons you think the pay rise is warranted. Leave room for negotiation.

If you work for yourself:

Look at your prices. When was the last time they increased? How many products do you sell? Can you raise the price on one line of items? Maybe you want to go full monty and raise all your prices at once? The choice is yours. Alternatively, you may want to add a new product to your range.

In business, price raises can be difficult as they can make a difference to conversions. One way to make sure your business can sustain your pay increase is to trial the new price to ensure it doesn’t affect demand for your services. If your trial goes well, it’s time to kick it up a notch.

This is your challenge:

If you are employed by someone else this is the week you ask for a raise.

If you are self-employed, this is the week you trial new prices.

Good luck!

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