If you are going to work so hard, why not make “real” money?

You have likely heard of those success stories of people who went from zero to six figures in seven months. It is mouth watering and it makes you think anyone can do it.

Well, in theory anyone “could” do it that quick, but there are a ton of things that would need to be lined up for that to happen.

I know a woman who spent $20,000 she didn’t have, to attend a program that promised this outcome; plus the cost to fly there and stay in a fancy hotel.

However, at the end of the year she was still at the starting gate and felt discouraged.

A very small percentage meet that goal, and yet she ended up comparing herself to them and felt even worse.

I have to admit, at one time those programs grabbed my attention, but something always held me back. I have invested at least that much money in my business, so that’s not the issue. What I do know is that there are steps to building a business and it takes time to do it correctly.

If you are new in business- you might be thrilled to get to the first income level $50,000 a year. You wouldn’t be rich yet, but you would be building the foundation to grow from.

If you compare your business to building a house from scratch, the foundation level is the beginning. The six figure income  lives on the second floor.

The foundation is the most important piece.
• The foundation is the blueprint for the rest of the building.
• If you make big mistakes there, you will be having to deal with them constantly as you build higher.
• The mistakes have more  impact the taller the house gets.
• When the foundation is solid, it is much easier to add the next floors.

My advice to you, is to get it right at the beginning!

• Slow down and let go of your hurry to make money so fast.
• Make sure you don’t skip essential pieces in the foundation.
• Go for quality and value when you make decisions.
• Face your inner self-worth issues.
• Acknowledge your blind spots.

Do you want to know more about how to develop your  business blueprint in a step-by-step format?  Check out the Leap Forward Program.

Is your foundation blueprint built correctly? Take my free Business Self-Assessment to find out.

You have a great service to offer.
You help people to solve their problems.
And yet your challenge is to get your own business activated.

Maybe for some months you’ve been trying to do it all yourself, and yet you are aware of blind spots and it can feel discouraging.

It’s a smart to get help right away, otherwise it can feel confusing about where to focus your energy.

•  There is an actual proven system to follow where one action builds on the other.
•  It is important to be crystal clear on your intentions and goals for your business.
•  You can create a map, plan and set benchmarks to see and know you are on track.

If you are a therapist, designer, coach, writer, educator or a health and wellness practitioner, you probably have had very little business training and even if you have had some, when you begin your own business, it is another story.

• You own emotions will derail you.
• You feel desperate to make money and that can affect your decisions.
• You aren’t sure where to focus first.

If this sounds like you, the “Leap Forward Program” is perfect. We focus on helping you build your business with the core components that need to be put into place.

What are your answers to these questions?

Do you know exactly where you want to go?
What it will take for to get there?  Can you answer with a huge YES?

I write about self-doubt a lot. It’s not because I am obsessed with this topic. It’s because it comes up all the time.

Self doubt comes up for me regularly, and I have become an expert at seeing what triggers it and how to get past it.

It is one of the first things new small business clients share, regardless of how long they have been in business.

Self-doubt leads right into fear and panic and you might feel:

• I’m not good enough or smart enough.
• No one will want to hire me because…..
• I will fail and look bad!

There are more and I am sure you could create your own list. My own list has caused me more pain and suffering than anything else. Here is what I learned and it still works.

1. Have a crystal clear and detailed vision and picture of where you are going. This needs to include how much income you will get and the income streams that will provide it. Check out Chapter 5 in my book, “Your Money Map.”  I created this process during one of my most fearful times and it really helped me to shift. Remember your vision is about your business, not about the lifestyle you want.

2. Keep a positive attitude. Instead of saying, “I can’t or don’t know how,” say “Who can help me and how can I find out how?” Your own limiting thoughts are your worst enemy if you are a business owner. An important entrepreneurial trait is to have the ability to keep your focus positive. When I wake up to a bad day, I immediately look at ways to get more empowered. For me it is often about talking to my support team.

3. Take calculated risks. If you stay where it is safe, you won’t move forward and won’t grow. If you don’t want to take risks, it is better to have a job. To grow a business you have to get out of your comfort zone and invest in yourself. This can mean investing money, and jumping in with both feet.

These three points are intertwined and related. For example: You might have a fear of spending more money and creating another debt. Fair enough, however if you have a clear vision of where the money will come back, it makes it easier. Your fears can also be part of your limiting thoughts.

Tell me what you think about these three points. Can you see how they can work to help you stay away from self-doubt?

(above art by Rogenetheartist)

It makes me wonder if this problem is contagious!

I also think this is more a women’s issue. I want to whisper this in case it is not politically correct to imply this, but women do seem to end up giving and giving without getting paid enough.

Here are some examples I have heard already this week:

•  Under-acknowledging the value of your service. One woman admitted to me today that she has no trouble expecting a hefty bill from her lawyer or paying her counselor, because she needs those services, but she is not seeing her own service is equally important. She wonders if people will really value it.

•  Giving too much! you offered a free 30 minute introductory meeting and then end up going for over 90 minutes. You offered tons of solutions to a potential client who has not yet hired you. Client hears too much and gets confused and then backs away. Giving is part of marketing but you have to know how much to give and how to lead it into a sale.

•  Poor communication about what you are offering. You lack clear written documents that outline exactly what is covered in your program. As a result clients keep asking for more and you keep giving more without any additional charge, because of your fear that if don’t, the client will be angry and feel not taken care of. Lack of clarity makes everyone confused.

All of these situations are a result of a mixture of low self-worth, self-doubt and not fully stepping into a full leader of your business. If you can relate to any of the above issues, here are a few things you can do.

1. Make sure there really is a burning need for your service. You need to see the value on a gut level, not just in your head. You have to feel the value 100%. If you don’t, this is the first place to begin. You can’t successfully offer a service you don’t really believe in.  If you do acknowledge the value fully, then the issue is about you, not your service.

2. Your own self-worth needs to come from knowing you are a really good person, skilled and an expert at what you do. You help people and make a difference.  If your self-worth depends on everyone liking you,  hiring you and paying you, your potential clients will feel your desperation or discomfort and it won’t make them feel secure and trusting that you can help them. When you feel good inside, you can put forth clear structures that then help people to feel safe with you. They know where they stand and won’t feel confused.

3. Be willing to step into those big leadership boots. Operate from a clear business plan and vision that states how much money you plan to earn and where it will come from. From that plan you can figure out what you need to charge in order to run your business. Get away from charging by the hour as you have a whole infrastructure to support. It is not just about the minutes you spend with the client.

By the way- I can identify with all the above. I used to be similar and it was painful to look at myself. The good news is that I followed my own advice and changed!   If I could do it, so can you.  I would love to hear your stories and comments below and if you want more help just let me know.

Read more about why people undercharge.
The dance of giving and receiving.

If you’ve been in business a bit longer it can be even more discouraging because you think you “should,” be doing better by now so you start feeling like a failure. The stress can be overwhelming!

Does this sound like you? You have a great service and feel confident about helping people with your skills, but you need more people to help.

It was the same for me. I remember being discouraged and comparing myself to other people who appeared more successful. I assumed they had tons of customers and I didn’t know why I didn’t. Asking that question is the first step. Here is what I learned and now my sales are consistent. I hope these steps will also help you.

1. Move past your negative self-talk as that will just zap your energy and keeps you stuck like a rat in a maze. Feelings of failure will just etch way at your self-worth. It won’t help you solve the problem. Let go of shame and get help.

2. Decide to find out what is not working and why. There is always a reason and it can take a new pair of eyes to help you see past your own blind spots.

The tendency is to make more poor decisions and keep doing the same things that aren’t working. If they aren’t working, doing  them more doesn’t make it better. It just means you spend a lot of energy without a positive return.

3. Learn how marketing and sales are inter-related. When you follow a strong marketing plan, people begin to trust you and see you as an expert. They will self-select to work with you and tell their friends. Most people skip these steps and lunge right into trying to convince people, because of their own financial stress and not understanding the system. It doesn’t work. Figure out what is holding you back.

Your momentum and excitement at first will bring you some business, but it won’t last the long haul without staying focused on a strategy based on a sound marketing plan.

4. Listen to your customers or clients. The backbone of your marketing plan is based on knowing your niche customers intimately. What makes them tick and what is their problem they need help with. What benefits do they want and why.

The home page of your website needs to be all about these people and what they want. Make sure your home page is written in plain language, non-technical as most people are being driven by their emotional need.

5. Help people make the decision to hire you. Focus on the benefits they want and help them to see how receiving the benefits will make a significant difference to them. If they are hesitant then ask what that’s about.

Most people are stopped by either money, time or trust. They don’t want to spend the money or think they don’t have it. If they hire you they need to see the return on their investment and it’s up to you to help them see how that will work. Timing is always important and people will make time for something if they see it is being very important.

If you are offering a service, people need to trust that you can help them. You develop trust via your marketing process, listening and giving value.

Remember- just because you are a skilled professional and an expert at what you do, doesn’t mean you are an expert at running your business.

These five steps are essential and help and focus. It will be worth it in the long run when you begin to see your sales increase. Which of these five steps are you already doing and which ones do you need help with? Ask a question and I am happy to respond.

You haven’t bought a franchise with a built in plan and system.

You aren’t starting a big manufacturing plant and getting a bank loan. You’re using a home office, maybe renting another small space somewhere to meet clients and possibly still have a part time job.

No one is asking for your business plan, and although you know it’s a good idea you just can’t get your head around how to do it or why it is so important.

A plan is built from a vision. A plan is simply steps toward manifesting your vision.

I regularly ask my new clients to share their business vision and plan.  Most people respond these ways:

•  A description of the lifestyle they want for themselves ultimately.
•  How many clients they want.
•  The kind of work they want to be doing.
•  The creative projects they want to develop.
•  To be able to pay the bills and stay afloat.

All of these things are good and important to think about but they are all about, what you want to be doing and how you want to be living. Your business actually has it’s own life and spirit.

When you begin a business it is similar to giving birth to a child. You need to have a vision of your child growing up to become a fully developed adult. Once you have that picture, you take steps to help your child develop in ways that assure that outcome.

Your business vision needs to include a picture of what it will be when it is fully developed.

• How much money it will generate per year.
• Where they money will come from.
• All the income streams.
• Steps to develop each of those streams.
• A fully developed marketing plan and strategy.
• Systems and organization to support the growth.

Answering those questions can be hard if you are only focused on what you want to do and how to pay your mortgage. In order to come up with these answers it requires strategic planning and visioning.

It’s really hard to do this visioning on your own, and way easier to have the support of someone who is not emotionally involved. Your own self-doubt and fears will make it hard to create a healthy vision that you can use as a template for setting goals and planning.

Chapter 5 in “Clear Your Focus Grow Your Business” is called  ”Your Money Map,”  and can help you begin this process, however when your self-doubts emerge, ask for support. Have you done a vision and plan for your business? If not what has stopped you? I would love to hear from you.

Having a service that you love and you know helps people, is just a tiny piece of the puzzle. In fact, it is even smaller than tiny.

A strong business requires good products and services but that alone won’t create a lucrative business.

Do these three things and watch what happens!

1. Plant seeds. Make sure you have seeds that are healthy, perfect for your climate and will grow easily in abundance. Do you want to have a bigger, more lucrative business?. Make sure you plant seeds that are the best ones, perfect for your garden and will grow easily in abundance.

Plant a variety of seeds so you have many beautiful plants that work together to grow a large, prosperous garden. Some may not work out, but others will take off. Your seeds are your products and services and fulfill a burning need for your customers.Your seeds are also your business systems that once are in place will have strong roots and provide stability.

2. Weed your garden. Let go of plants that are using up all the energy and nutrients but not providing the garden you want. Pull them out by the roots and let go of your attachment to them. Throw them in the compost and allow them to transform and leave your garden space open for the seeds you really want to grow.

Weeds will strangle your business if you don’t keep them pulled out. They can  be clutter, poor money management, attachment to services that don’t work, and poor habits.

3. Fertilize and water. Nurture your garden with loving help and focused decisions. Use the best fertilizers and remember to water them as needed. If you don’t have time, hire a gardener to help.

In your business this can involved investing in support services, a bookkeeper, coach, assistant or mastermind group. It can mean taking the time to do the tasks that are important but not urgent, like creating your marketing plan and following it, doing strategic planning and keeping things in order.

If you do all three of these things, your garden will grow abundantly and you will have prosperity plants and provide beautiful help to many, many people.

My story is that I have a money anxiety thermometer and there is a certain level of cash I need to see in my account for me to have a feeling of safety. This is an emotional thing really, because that level has changed over the years.  When I began it  was $500 and then $1000 and then $3000.

Looking back I can see it is a good barometer of how my business has grown. However, recently I made the decision to re-build my website, re-do my branding, hire someone to help me, re-print my books and more. This is all good stuff and in theory will help my business in the long run. The problem is in watching the money level go down, down, down and my anxiety go up, up, up.

Money management has never been my favorite thing but seeing the affect the stress has had on my health has forced me to confront this issue.

The only solution is to be able to predict my return on investment. This is a question my new clients ask me all the time so I get it. They want to know that by shelling out money to  hire me, their business will improve. They need to see the benefits in dollars and cents. Regardless of what you invest in, you need to be able to perceive the benefits.

Just spending the money and having my work done, is not enough to show the return. I already have a lot of people visiting my website, however I want to see that the new site will engage people more, offer even more value and build relationships. All those things will bring in more money as long as my programs are high quality and I give what I say I will give. So, there is a lot more to it.

My Whole Business Circle in my book and the questions accompanying were created for myself, as was everything in the book. It provides a way to evaluate each part of your businesses strength and shows where you need help.

Your business is a wholistic creature and the parts are not really separate. They affect each other and overlap. Money is related to marketing which is related to your products and services which is related to your systems and follow-through.

So, in order to accurately predict your return on investment you need to outline a whole plan. In my case, I need to use the new website as an opportunity to up my marketing, present some new tools and products and re-do my whole business vision.  When I do all those things, I will ensure the roi and I will see that money level go up to a new comfort level.   I guess my goal is to eliminate any anxiety forever!

ps. New website will be live in about 10 days!

•

Based on that fear, I charged too little at first. Too high was a subjective emotional thing and not based on anything to do with a business plan! I have learned so much the hard way, and hope I can help you to avoid the same mistakes.

It’s funny because my very first business 35 years ago, was making and selling hand-made pottery. I had no problem figuring out the correct price based on costs involved and how much I needed to have as a profit. It was easy. If people liked my work they would want it. If the large pieces were beyond their budget they bought a smaller one. I had a variety of choices and my work sold itself.

I have written before about the difference between selling a product and a service. So many more fears and self-doubts come up when you are selling your own service. That fear is immobilizing and can propel you to charge way less than you need to have a sustainable business.

The irony is that you will starve then for sure, because the only way to bring money into your business is by having prices based on value and your business plan. It needs to be the same process whether it is a pottery mug or a coaching program. If you are offering a service like acupuncture, massage or health services you will relate. If your service is designing websites or gardens you will also relate.

A business plan for a small service based business is not that difficult. It’s simply asking yourself what bottom line you want, where it will come from and how many  programs or sessions you need to sell each month to make your goal. But that process, in itself can be challenging.

When I ask my new clients that question, they usually don’t know. They are too busy just trying to get by and, “make more money.” It is scary for people to even put a figure to what they want to gross per year. I tell people to just guess. Inevitably it is too low of a figure and a reflection of their fear and self-doubt.

People have all kinds of mis-led reasons they give for under-charging. Here are a few I hear regularly.

•  I have only been in practice a short time.
•  People can’t pay any more than this.
•  I’d rather get paid something than nothing.
•  I don’t want people to see me as being expensive.
•  I am uncomfortable charging more until I am more experienced.

No one actually cares how long you have been in practice. They only care about their problem and the help they need. If you focus on your short time in practice then it sounds like you are saying you aren’t that good yet. If you aren’t that good, why would someone want to pay you any amount of money for help. People who need help are shopping for value.

Some people do make decisions on price and it usually backfires. I did that when I had my first website built. I shopped around and assumed that the person who was giving me a good deal would be as skilled as the guy who was charging a higher price. I learned the hard way that you get what you pay for. Now I only go for quality. I am still conscious of my own pocket book but I will always hire the person who is offering me the highest value.

I encourage you to:

• Give more value to your clients.
• Determine your prices based on your business needs.
• Pay yourself first.
• Acknowledge your expertise.
• Focus on growing your confidence.

Read some of my related blog posts:  Be willing to receive large amounts of money. Running a business is all about giving and receiving!
5 Keys to Correct Pricing.

Please share your thoughts on this topic. I would love to hear from you.

•

I had a separate bank account for my business, however I really didn’t understand how to manage it. I never really paid myself, I just earned money and spent it. Sound familiar?

At that time just about all my earnings got transferred to my personal account and I put every little money into my business. Many solo-business owners operate this way, by juggling money because of inconsistent income.

A year or two later I moved back to USA and decided to turn my business into a full time venture. This meant building a website, paying for hosting, printing and countless other expenses. It was a big shift!

I had lots of money going out and I began to pay myself in little bits and pieces just to keep my personal account above water.

It went on like this for quite awhile. I worried about not having enough, not bringing in enough income and was anxious if my bank account dropped below a certain point.

Then I again heard this phrase, “Pay yourself first.”  I didn’t know how to do this but I delved in and began to learn more about money management and how to run a business. Now I understand  what this means and the reasons to do it.

•  It is always good business practice to pay your employees first and foremost, so why would you treat yourself with less respect?

•  It is impossible to budget and plan your personal life if you don’t have a pay day and an amount you can count on.

•  If you don’t pay yourself first, you are nurturing an attitude of lack instead of abundance.

What you need to do:

1. Come up with a figure of what you absolutely need to pay yourself to sustain yourself and to feel good!
2. Divide it into two payment amounts. 
3. Schedule your paydays and write it on your calendar.
4. On that date write yourself a check or transfer the funds online.
5. Give gratitude for your business and your abundance.

If you want to add one more positive bit, decide on your next pay increase and plan and schedule it ahead.  Watch your income increase to meet that intention. It is like magic.

The focus is on cash flow and the idea of hiring someone to do anything translates to money going out.

I coach my clients to set prices for their services that allow them to get paid what they need in order to run their business and make a profit.

I see way too many service based new entrepreneurs under-charging and falling into the trap of wanting to help everyone.  But, I am getting side-tracked here. The point is, I can never complain about anyone’s prices. If anything I know people are under-charging not over-charging.

There comes a point though, where you must bring in a team of people to help you run your business because it will become impossible to do it yourself and still grow your company larger. You need to pay people for the help they give you.

I am just in that place now and I am excited about the changes happening and the amazing people who are helping me. I feel  blessed by  my team. They are all people who have been my clients so what comes around goes around. I love hiring my clients. But I am still putting out a couple thousand dollars for  my new website and design and the help to get it all happening!

In order to do this I needed to see your return on my  investment. How do you know if money you spend will bring you more money in the long run? You have to map it out and  ask, “If I do this, what will be the expected outcome?”  Trust your instincts as an entrepreneur and get valued opinions. I did wait until it was the right time.

The biggest mistake I see people make is to wait too long and cut too many corners, not invest in their business and and end up staying small and struggling.  Here are possible issues have that I have seen:

• Your prices are too low and you are under-valuing yourself.
• You feel self-doubt and are making decisions from that place.
• Your marketing is poor and there is no plan to follow.
• You are lacking a  vision for your fully developed business.
• You are trying to to sell something that has no driving need.

There are other reasons and maybe some of you can share.  I’d love to hear from you. Really the term solo-business doesn’t truly mean  ”solo.”

Most of these people are also struggling to make ends meet because regardless of what kind of business you have, selling is always a part of the process and although it would be fun, people are very unlikely to chase after you to give you money for your services.

Most people are careful about what they spend money on. People who are generally spender types, will buy spontaneously and on a whim, but that is usually “toys,” or material things, not services that are higher priced and involve a relationship.

If you are offering a service, like coaching, healing arts, web design, graphics or another way of helping people, your potential clients will not be in any hurry to hire you. They want to be crystal clear sure and know they are making the right decision.

Example:

Last week I signed up for an eight week seminar. It is a series of classes that will hopefully give me tools to be more in control of my money; a very worthwhile focus. However, I was unsure about the return on my investment. It will be a big time commitment and although the $350 was not a lot, I have to be mindful of where I spend. I was cautious. Very normal!

In order to keep the cash flow happening in your business, you need to understand the psyche of your target client. In my case, even though I was interested, I was also very wary and almost didn’t register.  What helped me decide was that the tutor spent time talking with me about the benefits and she helped me make the decision. She invited me to join.

Here are three important and essential parts to successful selling your service.

1. Connection. Connect with your potential clients.  Listen to them, who they are, what they want, why they are interested. Paraphrase back what you heard. Make sure you understand their situation and give empathy. Empathy goes a long, long way.  People want to be understood. If you don’t demonstrate that you get where they coming from, you will never make the sale. People need to feel that connection first and foremost. The key is to learn to listen and provide empathy before anything else.

2. Confidence.  You as an entrepreneur need to be super confident about your specialty and your ability to provide the benefits your client wants. People want to work with experts and specialists who are secure in their ability, trained and skilled as this emulates a sense of trust that you will be able to provide what they need.

If you are operating from self-doubt, your potential client will feel it instantly and back away. They have enough of their own self-doubt and what they want is someone who  is self-assured. If this is your challenge, ask yourself what you need in  order to feel confident and then make doing that a priority.

3. Converting. Helping your potential client to make the decision and actually sign-up for your program, schedule a session or hire you for their job is a huge part of the sales process and where many people slip up.

There are two reasons why entrepreneurs drop off at this point.
One, you are uncomfortable about asking for money. This might have to do with your own self-worth or unresolved money  issues.

Two, you are worried about being pushy. You don’t want to be like that archetypal used car salesman and have people not like you. As a result, you  disappear and cannot help your client to make a decision at this important time.  In both of these cases, you are focusing on yourself and your inner blocks.

It is impossible to be dealing with your own stuff and also being there for someone else. Ultimately you need to determine which of these two issues are getting in your way and then come to a place of resolution so you can be there one hundred percent for your client and not be focusing on your fears.

If you follow my seven part marketing circle, selling is in pie piece number six.  What happens before that makes the selling part easy once you have resolved your own blocks. People will be ready to hire you if you follow the steps in this circle. These three points will help you to stay focused and on track.

Which of these points are the easiest for you and where do you feel you drop off?  I would love to hear your comments.

Yet, if money is an issue for you and you struggle to have enough paying clients, it could be you have some limiting beliefs around giving and receiving that are not supporting your success.

The formula itself is straight forward.  You give high value to your clients and you then receive financially in return. In its pure form, it is a perfect balance and a beautiful dance. You give value, you receive value.

The problems arise when you add your own issues to the mix.

Here are some of the common beliefs that throw the dance out of balance and cause you to land splat on your face.

•  Maybe my services are not that good.
•  People won’t value what I am offering.
•  It isn’t right to charge money for this.
•  I am uncomfortable asking for too high of a price.
•  I feel poor and not comfortable selling to rich people.
•  All my clients are struggling so I need to give them a break.
•  People can’t afford to pay for my services.

The list goes on but you get the idea. When you feel any of these ways, how can you give real value to anyone and how can you receive?

You are putting all your focus on your fear and and not on your client.
You don’t feel worthy or expect to get paid a large amount.
You likely undercharge.
You keep wanting to lower your price so you feel ok.

If people even allude to not being able to afford it, you immediately lower the price or offer it for free.

From this place, people end up giving their services for free. They would rather be doing it for free than not at all, but then end up not having enough money to pay the rent. I call that, giving too much and for the wrong reasons. It just keeps you stuck in your disabled dance and limiting beliefs.

One of my clients, a  massage therapist, felt like a failure because she had so few paying clients. She kept offering free massages to people, hoping they would come back and pay the next time. This process was doomed for failure. It ended up making her feel even worse.

However, there is a way to give, that is an essential part of a balanced dance. It is about planning your marketing strategy and giving a taste of your service. Next you have a clear process for closing sales.

A taste is different than the whole enchilada. At the supermarket they give wee little pieces of a cookie. It tastes great and if you want more so you end up buying the whole cookie, plus one for your hubby.

A massage therapist might offer 10 minute neck rubs in a busy office and then convert those people for a 60 minute paid massage. It requires a well thought out strategy of how to do this. Your freebie needs to be a part of your marketing plan.

As a rule of thumb, never offer a free taste of your service unless you have a paid version ready to go that is connected to it. The freebie needs to be a prelude to selling  your product, whether it’s a massage, a website design or coaching.  It works for any kind of business.

1. Begin from a solid vision for your business.
2.  Overcome your self-doubt.
3.  Create a good marketing plan and strategy.
4.  Follow through on your plan.
5.  Give free samples of your service in bite size pieces.
6.  Have a clear sales process.
7.  Give the value you promised.
8.  Expect to be paid well in return.

When you learn these eight steps, your business will transform and you will never again give without receiving. Perfect balance. Contact me for a free strategy call.

All of them have a passion for helping people through their service.  Their passion is easy to feel and appreciate and if they could wave a magic wand to make the money stream in, they each know exactly what they want to do.

Needing the cash flow throws a wrench in the works. If this was a hobby there would be no issue, but having a lucrative business is not only important, it is essential.

If you can relate to this and love helping people via your service, you might see this as a catch 22. It is in a way, because in order to have a thriving business you have to temporarily turn your focus away from your service you are so attached to doing. Your focus needs to be on your clients and who they are and what they need. This is not about  you. It is all about them.

However, once you really understand your clients and know what is making them tick, you will have solved a big part of the process.

As long as you focus on your passion first, you are not thinking about who really needs your help and why. The why is the key and this is the emotionally compelling marketing piece.

Example:
I recently had knee replacement surgery. For many years,  orthopedic experts told me I needed this and encouraged it. These experts had a passion for knee replacements. However, I could still walk and I wasn’t interested in having major surgery and all the recovery and pain involved. Jumping ahead a few years, walking became harder and harder. My mobility began to disappear and I had to give up things I loved to do; dancing, hiking, etc. I was still not interested in their passion of knee replacement, however I was interested in reclaiming my mobility and getting my lifestyle back.

Can you see the marketing message here?  A poor message would be, ” If you have osteoarthritis, we provide you with a total knee replacement with our team of experts. We provide the best service and excellent support.”  Blah.

A better message would be, ” If your knees hurt so much you can no longer walk, we help you to get your life back and have many years of dancing, hiking and be pain free. Come see us for a free consultation.”

The first sentence is all about them and what they offer. The second is all about me and the benefits I want. Those benefits are what  prompted me to do it. I didn’t want their service. I wanted the benefits the service would give to me.

In order to build a lucrative service based business, you need to focus on your clients, the benefits they want and the emotionally compelling reasons they want it. If people want the benefits enough they will be willing to pay for help in that regard.

I decided to to do my knee surgery. It wasn’t fun and I could care less about  the passion of my surgeon. I only cared about being mobile again and how it would affect my life. Of course, I did pick an expert and someone I felt confident about but this is a topic for another article.

Yes, you can follow your passion and make money, but you need to develop a sound  marketing and business strategy and be willing to do whatever it takes. That might mean, putting your passion for your service on the shelf temporarily, and instead develop a passion around developing a thriving business. In the long run it will be worth it and you will have many more people to help.

•

Here are some common traits:

• Not thinking like a business person.
• Wanting to help everyone.
• Giving away too much.
• Uncomfortable asking for money.
• Over-empathizing with people who can’t afford it.
• Not having a clue how to grow your business.

Ok- breath! It’s ok. You are a good person and offer wonderful help to people. But you need to look at your own sense of self-worth and understand that a business is meant to have a positive cash flow. Here are a few places to start.

1. Begin to understand that  ”giving” something for free can be a good marketing strategy but  it must be part of a larger marketing plan, otherwise it doesn’t work. Marketing give-away is about giving a small taste and having it lead into a paid program.

2. Look at your value and ask yourself if you are ok with people paying you large amounts of money for your help. If not, you need to look at your  self-esteem and how that might be keeping you small. If you are poor and struggling you might think that everyone is that way and that no one can afford your programs.

3. Develop a vision of your fully developed business, otherwise you will be stuck in the treadmill of constantly looking for new clients. Your larger business shows many income streams.

You’ll be able to help a lot more people and make a much bigger difference when you begin to think like a business person and get paid well for your work.

•

Pricing seems to be the hot issue this month.

Self doubt is the catalyst for making some very poor decisions. Here are a few issues that I have noticed with my clients.

• You look at what other business owners are charging for a similar service, and then end up comparing yourself to them and feel bad and confused. You try to copy what they are doing but it doesn’t work because you don’t know what their business plan is and how they arrived at their figures.

• You are desperate to bring in cash right away in any amount, and are relieved  when people pay you anything. Money stress will cause you to  feel poor and constricted, which turns into a downward spiral.  You become lost in your own feelings of failure which make it hard to make good money or business decisions.

•  You choose a ‘stab in the dark’ price based on what you feel ok with and what you think people will pay.  Since your self-doubt is high, you end up picking a low price thinking you are not good enough to charge more.

The truth is, if you truly feel you are not good enough at what you do, why would anyone pay you anything? Here are five solutions to these problems.

1. Focus on your niche market clients and listen to what they need and want. Begin to develop services and products that are exactly meeting their needs.  Doing this helps you to keep your focus on how you are offering value to them.  As this focus grows, there is no room for your own self-doubt and you will begin to value your expertise. In truth, if what you are offering isn’t good value people won’t want it even if it’s free.

2. Be a business owner, not a practitioner. Many years ago when I was a counselor, I had a client tell me I must be rich because I was earning $60 an hour. He wasn’t a business owner so he didn’t get it that only a small percentage of that went into my personal pocket. In order to offer your excellent service to your niche clients, you are also providing:

• On-going support services and follow-up.
• Good organizational systems that help your business function.
• A team you manage, to help keep this all going.
• New products as business develops.
• Marketing, technical development. research and office organizing.

This growth offers even more value to your clients. Your prices need to reflect all of the above.  You are not charging for one hour of your time. You are running a business.

3. Develop excellent money management. Many solo business owners who are struggling financially, become money avoiders because looking at unpaid bills creates anxiety. It is human nature to want to move away from anything that causes stress.  However, this is an incorrect instinct. The stress will actually be much less once you take control of your money systems and know exactly what is going in, going out and owing. I think it was T. Harv Eker that said, “If you can’t manage a small amount of money, the universe won’t give you a large amount.”

4. Develop a business plan and vision that reflects financial goals that show where the revenue will come from. Many solo business owners begin with no plan, no vision and no idea where they are going. I use  simple pie charts ( Money Map) to help people  to understand what their business needs to generate. Your prices begin to make more sense based on that picture. The marketing/sales funnel will also help you to generate a plan based on providing valuable products and services for each level of the funnel. This gives people price and product choices and also allows you to build from a solid business model. You need to develop a  vision that sees you being much bigger than you are now and a plan to get there.

5. Be clear and confident. Discounts and sliding scales are confusing and inconsistent. Most people won’t make a decision based on that 20 percent money difference. People want help and expertise. Discounts work at Wal-Mart but not for service based businesses. They make you look desperate. For the same  reason it’s not good to immediately offer to lower the price if someone seems hesitant, or offer a sliding scale that puts the pressure on your customer to decide where they fit. You want to give people a feeling of confidence and clarity.

It’s better to offer bonuses that give more value to the sale and offer payment plans to make it work for people who want your programs but have cash flow challenges. In this way you offer support and options that help people get the help they need and at the same time allows you to run your business responsibly. One you feel clear about your prices based on the above points, make sure you “check-in” that your prices feel correct.

Most people have their techniques. For me, I can feel it in my solar plexus when something is not quite aligned. It’s also good to share with your mentor or mastermind group. If you have any self-doubt,  figure out where it is coming from and face it head on as  your clients will sense it  and it will affect your business.  Remember, prices change as your business grows, but if you follow these five points you will always stay on track.

Are you  ready to get help?

•

There is a strong sub-group of these folks who want all of that but ALSO want to follow their passion. Does this sound like you?

These people start from scratch with their own service, and although they want to make money, they don’t want to sacrifice their passion in the process.

Sometimes it can feel like the two are in conflict.  This is apparent if you:

•  Make decisions based on what you are passionate about, rather then what will be marketable.

•  Build a website that talks all about your ideals rather than what your potential clients need.

•  Struggle to make money and wonder why you don’t have more clients.

It is sad to see people put out so much effort and get so little  financial return. What is true:

When you are really willing to follow a sound business plan and make decisions from that place, you will have way more clients to help and be able to make way more of a difference.

Operating from your business mind will allow you to follow your passion in a much bigger way!

Here are three important things you need to do!

1. Clear your focus.
Begin to make a mental shift to thinking from your “business mind” and overcoming the obstacles that seem to stand in your way.

2. Accept the facts.
Your marketing plan needs help. You can easily learn the simple strategies and implement them. You were able to master the skills of your profession or trade so you can also learn the skills of marketing and the way it works.

3. Let go of staying small.
Become empowered and unstoppable. Learn to make decisions from this strong place and to speak from this voice. Decide to do whatever it takes to move past your self-doubt.

Get the help you need and make a commitment to grow in these three areas and you will notice a huge change in your cash flow and your happiness.

If you are one of those people who started your business literally from the ground up, beginning with no clients and no money, you had to do it all yourself. If you followed good advice, created a marketing plan and good organizational systems, eventually your business has grown and now you are just too busy to stay on top of everything.

Stuff begins to fall through the cracks, your blog posts aren’t getting written as often, your desk is piled with papers, you have new ideas you have no time to develop.

You might begin to realize you need to get help.You have likely had contract employees for certain tasks like web development, editing or graphics but what you need now is someone to help you grow your business.

The problem is you are good at your craft or practice, but don’t have a clue about how to hire someone or manage them. Maybe you even tried it once and it was a disaster so now you are cautious.  Here are a few things to help you to make a shift from being a solo-business owner to being an employer of a small business.

1. Look at all the parts of your business and begin making a comprehensive list of every job and task that you do. You can use my Whole Business Circle to help you divide your business into eight pie pieces. Although some areas will overlap, this will help you to cover each area without being overwhelmed!

2. Make a list of every job you have not been doing because you haven’t had the time. If you are like most people, you are doing the jobs that seem urgent, have direct financial gain and/or are fun.  Once you have your list, rate each one by how important it is to long term growth. It is actually those jobs that are not urgent, but might be important to long term growth, that need to be addressed.

3. Create a short list of jobs you would like to have someone else do. Notice if they seem to fall into categories and skill sets. How much training would be required to teach someone how to do these jobs? Do you have step-by-step systems in place to make the transition easier?  Developing systems with clear steps and focus will make it easier for you to be a manager and will help your employee feel confident and supported as well.

4. What kind of person do you want?  My business consultant friend said that the difficulty is that most people want to hire very smart, sharp people who can work well on their own, be creative, stay and become more involved with the business, however to begin with, they might be doing boring, less interesting jobs. You need to be clear of your intention and the “why” behind it. It requires thinking long term as it can be a very time consuming task to train a person and then do it again and again.

5. Employee via virtual assistant. The advantage of the VA is that they are generally paid by the job and not on salary. You only hire them when needed, however once they learn the task, they can do it over and over.  The advantage of an employee is that this person becomes part of your business, is not working for many other businesses and has the potential to become invested and can grow with your company. They make a time commitment to  you and you are managing them. A VA is running their own  business and they set their own hours.  Once you look at your job list and think about what is important, it will be easier to decide what’s right for you.

In order to move from being an overworked solo-business owner to growing a stronger sustainable business, you have to let go of doing it all yourself. If you keep trying to do it all yourself, your business will stay small.

• Looking at what other business owners are charging for a similar service, and then end up comparing yourself to them and feel bad and confused because you are not them and your business is not exactly the same.

• Being desperate to bring in cash right away in any amount,. Money stress will cause you to  feel poor and constricted, which turns into a downward spiral.  You become lost in your own feelings of failure which make it hard to make good money or business decisions.

•  Choosing a ‘stab in the dark’ price based on what you feel ok with and what you think people will pay.  Since your self-doubt is high, you end up picking a low price thinking you are not good enough to charge more. The truth is, if you truly feel you are not good enough at what you do, why would anyone pay you anything?

Solutions:

1. Focus on helping your niche clients and giving them value.

2. Don’t charge by the hour because your price includes your whole business with all the systems, development, office, marketing etc.

3. Be an excellent money manager and learn to manage well what you have. This will lower your anxiety.

4. Make a business plan that reflects your financial goals and then figure out the income streams and where the money will come from.Use the Money Map and sales funnel to figure this out.

5. Give high value and bonuses but avoid discounts because it makes you look desperate and it will confuse your customers. People buy services for value first, price second.

If you do all these things your self-doubt will decrease and your confidence will increase.

When I first heard this I felt like I wanted to crawl into a cave because my money management was atrocious. I never really knew how much I had (or didn’t have was more accurate). I just checked my bank balance every so often  and made sure I was still in the black.

My mental space was filled with creative and visionary ideas.  Money management seemed boring and a sure way to pop my helium balloon. Harv also said, “The way you do one thing is the way you do everything.” I woke up and I realized that ¨until I began to clear out the money cobwebs I would stay in a place of struggle.

Here are a few typical types of money clutter and how to clear them out permanently.

1. Fear of really looking at your accounts and knowing what’s going in and out. This is an irrational fear that once you know it will be horrible. Avoiders  want to steer clear of fear at all cost because it is uncomfortable.  As a result, bills stack up, mail is left unopened or not dealt with properly and you never have an accurate picture of your money.

Solution: Become an excellent money manager. Check your accounts regularly and deal with stuff immediately. Get a good bookkeeper and put systems in place.

2. Spending money on impulse. As soon as you get some money coming in you think of ways to spend it on “stuff.” Some of the stuff could be useful but mainly it’s fun to spend it and it makes you feel prosperous.

Solution: Create a special account for play money and put 5-10% of your earnings in there each month. Spend that on fun stuff. Before you buy something you need for your business ask yourself, “Do I really need this?”

3. Worry that the money flow will dry up. When you are in business you depend on a stream of new business and your customers to pay you on time. Worry can clutter your mind and stop your creative process.

Solution:  Substitute worry thoughts for positive thoughts and keep your attention focused on what you need to do to provide excellent customer service and good value. Develop a solid marketing plan.

4. Unrealistic money goals. You know you want to earn more money but you never have actually sat down and did a strategic plan of how to get there. There are holes in your plan and you keep doing the same mistakes over and over.

Solution: Develop a business plan that gives you a clear map to how to reach your money goals. Get help if you don’t know how to do this.

5. Poverty consciousness. You feel unworthy and disabled. Maybe you are uncomfortable asking for money and receiving it. You don’t know how to close sales. Your clients sense your discomfort and don’t want to be around you. You feel small and make decisions from that place.

Solution:  Begin to hang around prosperous people and change your behaviors. Let go of staying small. Stretch out of your comfort zone as this is the only way you will grow.

Follow these five things are you will begin to  eliminate your money clutter and open the space for prosperity.