Busting money myths

What money myths are you running your business by? Your views and beliefs about money can really help propel your business forward or hold it back. I hear it all the time with clients, certain money myths that are said over and over again. But it’s often coupled with a desire to grow the business and reach bigger financial goals. However, if you don’t pick up on those money myths you’re telling yourself, you will not reach the goals you set. So how can you change that?

It starts with picking up on those myths you’re telling yourself and busting them! So here are five of the most common ones that are constantly shared with me - along with simple ways to move past them.

Money Myth #1: I don’t need to plan as I have enough money

Budgeting is so important, and that’s a word that can scare many. But you don’t have to call it budgeting - you might just call it planning instead. That helps you get past the initial wording. And actually, you might...

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Why planning is so important for your business

Do you want to hit 2023 with a bang? Do you know where you’re headed in the next 12 months? Planning is so important for your business, because without a plan you will not hit those goals, won’t know what content to create and will not understand where your business is going.

And with no way of being able to plan or make decisions to grow your business, you’ll just end up sort of bumbling along with no actual way of making the money you want or getting your business where you want it to go.

Why planning is so important for the year ahead

Now we’re getting towards the end of 2022 you need to start planning for 2023. It's really important to get a plan in place so you can look at everything from pricing to through to outsourcing. Do you want to outsource some client work or hire a Virtual Assistant? How will you know if you can afford to grow your business and how will that look? For example, what do you want to do more or less of, in your business?

And then...

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Pricing in a recession

How do you go about pricing in a recession? It’s going to be a difficult time for many people, especially as prices are going up and inflation is at a record high. So how can you effectively grow your business when things are so tough right now?

You have to remember that, although it’s a difficult time for some people, it’s not awful for everybody. And the recession won’t heavily affect some business owners. And a recession doesn't mean that businesses aren’t investing in your services - people are still spending. 

But I know what it’s like. You want to continue helping people during a recession, but you don’t want it to adversely affect your business. So here are some tips to help you continue helping your clients, without neglecting your bottom line.

Pricing in a recession: start with your market

Not every market is created equal. Start by thinking about your market. Are your products or services classed as a luxury service or is it...

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Online business myths

There are so many online business myths and success stories doing the rounds. As an online business owner, you cannot fail to see them or be attracted to them, as the online world is rife with promotional campaigns promising solutions and strategies to help you create the business and life of your dreams. 

It can be incredibly difficult to know what is and isn’t real, especially when you’re only being given half the story. That’s why I loved chatting with Teresa Heath-Wareing recently. Teresa helps business owners from all around the world create a business and life they dream of, not what the rest of the world tells them they should have. Because success isn’t always about six figure launches and working from a beach - it’s about creating something that fits in with you, your family and your life.

Financial freedom and those business payoffs

When you define success, it often equates to a financial figure, but it doesn’t have to be a...

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Taking your customer on a pricing journey

Do you take your customer on a pricing journey? It’s a question you need to ask yourself, both when thinking about product creation and also with your marketing. The pricing journey is something that can make the difference between turning a browser into a customer, a new customer into a repeat one, or risking losing the sale altogether.

The pricing journey

So what is the pricing journey you can take your customer on? Well, when a customer comes into your world, do you offer them a £27 pound thing or a £3,000 pound thing? There are always going to be people that want that premium top package or solution straight away, whilst others want to start low. But no matter where they start, you need to make sure your customers can see how they might work with you more. 

Get clear on your pricing

And this always starts with you getting clear on your pricing and knowing what you should charge for your services.So rather than just charging whatever you like, think about...

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How do you know when to take on an employee in your business?

Are you ready to outsource or take on an employee in your business? It’s a question many entrepreneurs have but are terrified of exploring, especially when they’re ready to grow. And at first glance, it may seem that an outsourcer is your best option - but is it the right option for you and your business?

It’s a subject I’ve recently been chatting with Victoria Johnson about. Victoria runs Green Jay Group company and helps STEM startups get their people and culture how they want it to be. She also offers one-to-one leadership coaching, helping founders of businesses decide on the best ways to outsource, because it isn’t always easy deciding between hiring an employee or outsourcing to a freelancer.

The missing strategic decision

Many business owners are eager to get started. They operationally need to grow and want help to clarify options. But before this point, there is a need to make those strategic decisions first. Can you afford to hire? What can...

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Why batching is so important for you and your business

Batching is so useful for you and your business. And at first glance, you might say it has nothing to do with pricing. But actually, it makes an enormous difference to you, your business and the prices you charge. Because we all like to think we can multitask, but if you want to create your ideal business, you need to drop the multitasking and start embracing batching instead.

Why should you bother with batching?

No matter how much you may try to convince yourself otherwise, multitasking is not a good option. It’s really difficult to flick between different tasks all the time. Not only does it play havoc with your focus, it also produces less than stellar results.

Batching helps you keep your focus on one thing. It stops you getting distracted, and it makes it easier for you to block your time according to your energy. And that’s both practical and smart. For example, I don't work Fridays, so I can block that time off completely. However, I know my energy for focused...

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Pricing for charities and non-profits

Have you ever wondered how to set pricing for charities and non-profits? Maybe you want to give back more but don’t know where to start and how to price accordingly. It can be difficult finding that balance between earning enough to cover your business expenses and own salary, and also helping a wider range of people. But it is possible to give away your time for free, in a more structured way in your business.

It’s a subject I had the recent pleasure of speaking about with Rosie Gilderthorp. Rosie is a clinical psychologist and splits her time between her social enterprise business, a perinatal mental health practice, and her Psychology Business School, where she teaches psychologists and therapists about setting up and ethically and effectively marketing yourself in the business world. 

What is a social enterprise?

As a business owner, you often find yourself in a situation where you want to give back more. But if your business model isn’t correctly...

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3 Growth problems in your business

Business growth is something we all want for our businesses. But often, there are three key problems you’ll face, when it comes to trying to grow - pricing, scaleable offers, and outsourcing. These tend to be the big issues in your business and will often hold you back and help you play small in your business.

So if you’re currently frustrated with your lack of growth, are struggling with pricing and stressing over outsourcing, you’re not alone! Here’s what you need to know to solve those problems and get your business back on track for the growth you want to achieve.

Use the right pricing model to avoid growth problems in your business 

Getting your pricing right can be the quickest way to make more money in your business. It's such an easy way to make more money too. But it’s an easy way in practice and not always quite so easy to implement! But pricing is a good way to make more money and grow your business. 

One of the quickest pricing...

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People pleasing and pricing

Are you guilty of people pleasing, perfectionism or overthinking? And how does that come across in your business and your pricing? You may not immediately think the two are connected, but the emotional baggage that causes your people-pleasing or perfectionist habits impacts on what you’re willing to settle for in business, especially with boundaries and pricing. 

It’s an important topic and one I recently had the pleasure of chatting with Natalie Lue about for a recent podcast episode. Natalie is a recovering people pleaser and her website www.baggagereclaim.co.uk centres around helping other people pleasers, perfectionists and overthinkers to take a closer look at those habits and learn how to get rid of the emotional baggage so they can stop settling for less. Because when you settle for less than your worth, it affects your creativity, sense of self, business and pricing.

Your pricing reflects in how you show up and are seen by your clients

When you...

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