I’m doing a Facebook challenge on money blocks right now. Today I've been cleaning out my inbox and reading loads of Denise Duffield Thomas emails that are sitting in there about money mindset. And I did an energy workshop this week where we talked a lot about sitting in the energy of higher fees.
Am I surrounded by all this information on money mindset right now because the universe is trying to tell me something? Maybe, I have come across not only some new money blocks but some ones I’ve known about for a while that need some more work.
But it’s more likely I’m coming across all of these opportunities to work on my money blocks because so many people out there are struggling with them. Supply and demand right?
So, how are you doing with your money blocks?
Do any of the following thoughts every cross your mind:
I’ll look greedy if I charge that rate
Money isn’t really important right now
It’s a bad economy so people won’t buy if my rates are high
Money isn’t why I started my biz, I want to help people
Yes? You got some money blocks to work through! If you’re business is less than a year or two old, one of the most common and potentially business-killing mindblocks you might have is around setting your fees.
Boy, that’s a MINEFIELD isn’t it? How do you figure out what the right fee is? How do you know what your competitors are charging? How do you know where to position yourself in the marketplace?
I can pretty much guarantee that you’re charging to little for your services. Or at least that you were charging too little when you first started up.
Hands-up I did the same thing. How do I know I was charging too little for my first programme?
My first client told me so. She told me I needed to put my fees up. A lot. That gave me a huge amount of confidence to raise my prices. I’ve just raised my fees for my life coaching packages again as well so right now I’m feeling pretty good about what I’m charging.
Time to raise those prices?
How do you figure out if you should be raising your prices if you don’t have clients telling you to do so? Here’s a few signs you need to push yourself past that next price barrier.
You’re fully booked or consistently close to it
You’re attracting difficult clients
You’re consistently creating amazing results for your clients
You want to earn more money
I know that raising your prices is hard to do. But I’m here to tell you that you can do it!
As consumers, we're all use to price rises aren't we? Everything around us is always increasing in price. Sometimes it's an annual cost rise, like trains and the Underground. Other times, it just happens. I needed to replace a favourite pair of jeans last month and in the last year, they've increased by over 20%. I bet that increase was incremental as well.
Consumer us gets a bit annoyed by those rises. Sometimes. We might have a bit of a moan but sometimes we don't even really notice them.
What about employee you? How often did you fight for a better pay rise? If the company you worked 9-5 for didn't give you a pay rise for two years while giving every one else one, would you have stayed quiet?
So why should business owner us get so freaked out about rising our prices? Because we've hit a money block. We don't think we're worth that cost. We worry we'll lose clients because we put our money stories onto them. Our egos start to worry about rejection.
But we're not in business to not make money. Making money is ok and there’s a lot of benefits that will come with raising your prices.
Grow your business without burning out
Attract the right customers
Charge what you feel is fair for the services you offer
Raising your prices is a great achievement and a sign that you and your business are slaying it!
Taking your time is ok!
If you’re not quite ready for this yet, you can start laying the groundwork now. Sometimes when we’re taking ourselves up a level, we need to gently ease ourselves there. It’s like wading slowly into the pool to “get use to the cold”.
Pick a number you want to be earning. And then keep going until you get an uncomfortable feeling somewhere in your body, most likely in your stomach or your throat. Now, write that number down.
Put it on post-its on your bathroom mirror, on your wardrobe door, on your computer monitor. Use a picture of that number on your phone screensaver (honestly, you see your kids every day, it’s ok to replace them on your phone). Change your most used passwords to incorporate that number.
Journal around your feelings about the increase. Use this mantra a couple of times a day, “The more money I make, the more people I can help. The more people I help, the more money I can make.”
Keep that number visible until you become use to it. You’ll notice you gradually start to lose that sick feeling in your stomach or the tightness in your throat. That number will become more and more comfortable for you. And one day you'll see it and say "Hell yeah, that IS what I should be charging!"
Try a session of Rapid Transformational Therapy
RTT is brilliant for getting to the roots of your money blocks! So many of them come from our childhood - conversations we overheard about money (often before we were even old enough to understood what money actually was), underlying beliefs we picked up on from our parents, stories the media told us that we've filed away in our subconscious. Check out how RTT helped Julie B and Lisa A understand and progress their relationships with money on my testimonials page.
Want to explore how to get past your money mindset blocks before? Book a virtual coffee now!