In last week’s post, 3 Money Lies Women Should Give Up Now (Part 1), we talked about 3 crazy common money blocks that come up for creative women entrepreneurs all the time. We pulled back the curtain to show you how 3 amazing women got past those blocks to find the truth that transformed their businesses!
It was a LOT of information, I know! Did you see yourself in any of those women? I’d love to know what your takeaways were! Leave me a comment here, or hop on over and join our Free Facebook Group and let’s get the conversation (and the party) started!
If you loved what you read last week, then you’re really gonna love this post! Because we’re bringing you round two with 3 more rockstar entrepreneurs who are sharing the limiting belief that kept them stuck, how they cleared it and continue to stay on track, and how you can too!
4. Setting your fees based on what you would pay for the same service
We forget that when we’re working in our Zone of Genius, things come naturally and easy for us. And because it’s easy, we often discredit the value in it.
We might think, Anyone can do what I do. It’s so simple. Why would they pay me for this?
This belief is something I see with creative professionals, a lot!
Tara Bosler, of T. Bosler Writing, was haunted by this exact money block. She provides copywriting services for online entrepreneurs, and when she first started her business, didn’t fully understand the value that other entrepreneurs experienced when working with her.
“I’ve lived my whole life (and come from at least a couple generations) in a scarcity mindset. My initial price points were based on what I would pay someone, instead of charging what my services are worth,” says Tara.
When we have a do-it-yourself ethic (common for those who live in scarcity) and couple that with a natural talent for being awesome at something, it’s very hard to see the true value that exists in those talents.
We think that because we’re resourceful enough to figure out how to be awesome, everyone else must be too, right?
Not exactly. I promise you that for every service that exists- regardless of what it is- there are many people out there who need it and value it!
How to Set Fees that Reflect Your Value:
It’s all just a matter of recognizing the greatness within yourself and finding the courage to put what you do out there with a price point that is a perfect match to the exact clients you want to attract.
Taking the time to understand how much your clients really value what you do will work wonders for your confidence levels!
Instead of just hoping that they think you’re awesome, you’ll actually know that you are!
This will also help you hone in on which parts of the experience they enjoy when working with you, so that you focus your time and energy on the things that matter most!
And when you’re having a moment of weakness, do what Tara does: Meditate, take a moment to remind yourself how far you’ve come, read your own testimonial page (hey, that’s real-life proof of how awesome you are) or hop on the phone and talk it out with you biz coach! (Btw… If you need one, let’s talk!) 🙂
Tara’s advice for cultivating a healthy money mindset:
“Get a coach. Especially if money blocks are one of the major elements holding you back! Just reading about a healthy money mindset won’t necessarily help as much as having someone right in front of you telling you like it is and helping you get there.”
5. Giving your services away for free
You’re a giver. I totally get it! I am too!
As givers, we want nothing more than to help people!
In every business transaction, value is exchanged. You’re both giving something- a gift of time, service, money, knowledge- that is considered valuable to the person on the receiving end. For this reason, being able to give and receive is not only necessary, it’s critical!
Here’s the thing: We are often brought up to place a higher value on giving than receiving.
We’re taught that it is better to give than receive; that asking for more is greedy; that wanting more is selfish; that when we have more that others have less. These are our money stories and they make up the hidden rules we have about “right” and “wrong”. They affect the way we think and feel about money.
When we place a high value on being a “good person” and our money stories make us believe that giving is selfless (and makes us good) and that taking is selfish (and makes us bad), it becomes very difficult to charge for our services in business because the simple act of taking (or receiving) challenges our values.
Robin Kegerise, CEO of She Works Heartily, is all too familiar with this. She says, “I’ve always been good at giving to others, valuing what they offer, but have struggled to translate the value of what I have to offer into monetary terms.”
As businesses owners, if we don’t translate our value into money, and open ourselves up to receiving that money as a fair means of exchange, we won’t be successful. That’s just the way it is. And I know you know that!
How to stop giving your services away for free
Start by setting clear boundaries. This means having a prepared response for any and every situation that may ever come up regarding pricing. What will you say when a friend, family member or neighbor asks for your “help”? How will you respond when someone asks how much you charge for your services? What will you do when someone gasps in surprise at your rates?
Preparation is the best defense! The more you practice, the easier it will be to separate business and emotion.
Also, pay attention to how you feel when you pay for a service that someone else provides. When you get your hair done, allow yourself a moment to honor your stylist and enjoy handing her money for the value she has provided. Do the same for your mechanic, your dry cleaner, your babysitter- everyone! Tell them how much you appreciate them.
By acknowledging the value others provide you, you’ll find that it gets easier to recognize that you provide as well, and accepting money for it will become much easier.
Robin’s advice for shifting to a positive money mindset:
“Do affirmations everyday– at the beginning and end of your day. And make it a point to press into your money mindset issues. They aren’t going away until you acknowledge and address them!”
6. Believing that you have to struggle before you can succeed
How many times have you heard the saying, “It takes money to make money” or “No pain, no gain”?
These phrases may seem like innocent references from our past, but they are the dense fibers that make up our money stories and limit our beliefs about what is really possible for us – in business and in life.
We either let them scare us away from starting a business because we believe that enduring pain, hardship and struggle is the only path to success. Or, we feel the fear and do it anyway, all the while expecting that there will be a financial struggle, at least at first.
Lilah Higgins, Brand Designer and Artist at The Higgins Creative, was one of the many who have started a business believing that “It takes money to make money.”
While it may take a little upfront cash to get started, going into debt isn’t always the best path to success. In fact, that belief can seriously hold us back from receiving the abundance we deserve.
How to get past the self-induced money struggle
Having a plan in place that aligns profits with growth will not only provide the clarity to make sound financial and business decisions, it will give you the confidence to take calculated risks that will help you grow your business much faster than you’ll ever be able to without a plan.
“When I started to see results from the investments I was making, I was able to choose wisely on what I was investing in,” says Lilah. “Having a plan and looking at the business with this new perspective, made me understand my own value and that I could build into myself and in turn provide more and more for my clients. And plus, I started bringing in a ton more income!”
Lilah’s advice for saying positive when it comes to money:
“Have a budget! And invest wisely. Choose to invest only in things that you know will return to you and when you can do that, don’t be afraid to drop big cash for those things!”
Help! I Want to Clear My Money Blocks!
If you’re recognizing that you have a money block or two that you need to clear, and you’re ready to make the mindset shift into a place of positivity and abundance, here are some resources to get you started:
We’re all about connection!
Join the Profit Party! Our free Facebook Community is a community just for women where we kick back with a glass of wine (or whatever floats your boat) and talk about what it really takes to make money in biz.
Subscribe to get money mindset tips delivered to your inbox to help you move past your limits and take your business to the next level!
To connect with the ladies featured in this post or to learn more about their businesses, click on their images below!
Hear the stories from 3 different women share 3 completely different money blocks and learn how they overcame them and are now crushing it in their life and biz!
Sharing is Caring
If this article added value to your world, say thanks by sharing it with a friend. 🙂