My No. 1 Money Rule

A very valuable lesson someone taught me when I was opening my business was to avoid putting our memberships on sale.

People love discounts. But for most female entrepreneurs trying to show clients their value, a discount attracts the wrong type of buyer.

People spend money on what they value, even in business. A potential client may say they "can't afford you" but what they really mean is they don't value your service as much as other things they could be spending money on. But if a potential client truly doesn't have the budget for what you offer, avoid giving a discount. Instead, offer something at a lower price that also delivers less value. Remember, don't think about it as a single transaction. Think about it as the way people view the value you offer them.

Interested to learn three more money mistakes to avoid if you want to run a profitable business? Drop your email here for the whole list.