When I first started my small business, I struggled with pricing my services. Having always worked for someone else, they had dictated what my time was worth for the work I was doing. Now that I was on the other side of that fence, I had no idea what to charge for my time. I didn’t even know where to start to figure it out.
When I was younger money wasn’t something that was openly spoken about. I remember being told that it was rude to ask people about their income or how much they were making, so I didn’t. Then later in life, when conversations about money came up, I’d be vague and cryptic about my answers and quickly change the topic.
Conversations about money always made me feel uncomfortable or like it was a competition. I felt if I wasn’t making as much money as them, they’d think less of me and if I made more, they’d think I was pretentious or stuck up. Either way it was a lose-lose situation. So I thought, best not to talk about it at all.
Let me tell you, this led me down a rabbit hole as a business owner. I started by copying pricing from other businesses that provided similar services to me. I figured they had been in business for a while, they know where it’s at. Just by doing this I was able to fumble my way through my first year in business. Keep in mind, I was still working full time for someone else. So I had a full time income, and a business that was just breaking even.
I remember being told “small businesses don’t make any money in their first couple of years”, so I thought breaking even was pretty good.
I decided to add some more services to increase my income. By this time I was getting pretty frustrated with my full time job and I set a SMART goal to leave it and work for myself. I priced my new services (with more ease this time) and began taking action towards my goal.
I saw my time frame come and go (twice) and realised then I didn't have this money thing sorted. Instead of increasing my pricing or the number of services I offered, I turned towards my mindset, my money mindset.
This had been where I’d fallen over and I wish someone had told me more about this at the start!
For those of you who don’t know, money mindset refers to the beliefs, attitudes, and values a person has about money. It shapes how they think about and approach financial decisions and can affect their financial success. For small business owners, having a positive money mindset is critical to the success of their business.
Because of this I have designed my Business Coaching Program to get you to your BIGGEST income months, with minimum bumps and hiccups along the way. You not only get the proven, tried and tested online strategies that the highest achieving entrepreneurs are using, but you’ll also be getting the dedicated mindset support that’s needed to hold you in your most rapid expansion.
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