Collaborations and recommendations are business gold
When you stop to think about it, how often do we decide to move forward with something based on the recommendation of someone we know, like, and trust? I’m 99.99% sure that the answer to that question is…often!
That’s why I’m a firm believer that one of the most powerful ways to grow your business and connect with new audiences, is to seek out opportunities to network, collaborate, and recommend other business owners in niches that compliment (but are ideally not identical to) your own.
An example of this was an introduction I had by a friend to Wies Bratby.
As a negotiation expert, Wies has carved out a niche coaching women around negotiating higher salaries. As a financial planner and advisor, my niche is to help women grow their net worth. So, as you can see, a collaboration between Wies and I is a match made in heaven! I love making win-win-win connections like these that support other women in positive and empowering ways, while also benefiting my audience and business.
And because I’m a firm believer in there being no time like the present, I asked Wies to send me a little background on what she does, so I could introduce her to you right away…
Are you being paid what you’re worth?
Whether you’re a business owner or employee, to fund your dream life and build for your future your income is a key factor, and having the skills and confidence to negotiate the remuneration package you deserve is a must.
When it comes to negotiating your salary, this is where Wies’s expertise comes to the fore. Here’s what she has to say…
Many women enter the workforce believing that – like in high school and university – delivering great results is all that is needed to get recognised. As such, they work hard, keep their head down and are then blind-sided when Bob-down-the-corridor-who-isn’t-great-at-his-job-but-always-talks-about-it, gets the promotion instead of them. These women are equally stunned to find out they are paid less than their (male) peers in the same role.This isn’t just frustrating.
This isn’t just disheartening. Women lose out in very real ways when they don’t fight hard against these patterns at play.
The gender pay gap starts early and widens the higher up the career ladder you get. And even a small percentage difference over time grows into staggering amounts of lost earnings (compound interest is not your friend here!).
An even bigger problem is that the research shows clearly that men get promoted based on their potential, thus getting the chance to show what they can do. Women, on the other hand, are promoted based on past performance. We first want to have seen them deliver before we will recognise them for it (and we will only do this if they explicitly ask!). As a result, on average, women’s career paths end up being much flatter than men’s career paths, which in turn has real repercussions for their earning power.
In a nutshell: as a woman in corporate today, however hard you work, you can easily miss out on great career opportunities and large amounts of money…
…Unless you take control. Unless you learn to navigate your career. Work ON it, not just IN it. And unless you learn the very important skill of negotiating your worth.
Your package is more than just your salary
As well as negotiating the salary you deserve, it’s important to go through your full remuneration package with a fine toothcomb to see if there’s room for any additional negotiations to be made.
This is where the broader financial knowledge of a financial planner and advisor, like me, comes in.
Let me give you a real-life example to highlight this:
Recently an existing client of mine was headhunted for a job which required her to relocate to the UK. During her decision-making process, we worked together to review and compare her existing remuneration package for the job she had in Switzerland against the package being offered for the UK job. When we dug in, I found that the pension she was being offered in the UK was nowhere near as good as the one she had here in Switzerland.
To cut a long story short, she was able to bring this finding to the negotiation table and ended up getting an additional £60k per annum on her base salary and a £150k signing on bonus. A very beneficial outcome for a few hours together I’m sure you’ll agree!
Building wealth beyond your salary
Negotiating your remuneration package is just the beginning of your journey to building wealth and living your dream life.
So, to wrap things up I thought I’d share three tips to help you grow your net worth:
Tip 1: Save and invest wisely
Emergency fund: Keep 3-6 months of living expenses in a high-yield savings account
Retirement savings: Maximise your contributions to retirement accounts
Invest in the market: Consider low-cost index funds, ETFs, or even individual stocks if you're comfortable with the risk, and consult with a financial advisor for a second opinion
Tip 2: Manage debt effectively
Prioritise paying off high-interest debt: credit cards, loans, etc
Consider refinancing options for student loans or mortgages if it can lower your interest rate
Tip 3: Build multiple income streams
Side hustles: Explore freelancing, consulting, or selling products/services online
Real estate: If feasible, consider investing in rental properties
Passive income: Investigate dividends from investments, royalties, or creating digital products
Sometimes the road to financial freedom can feel long and lonely, but I hope what I’ve shared today has helped you see that it’s a journey you don’t have to take alone. Whether it’s support with negotiating your salary with someone like Wies, or expert guidance about building wealth and your dream life with me, help is always available.
CLICK HERE and let’s connect – I can’t wait to support you.
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