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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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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Podcast Episode 20 - Address your money blocks to earn more money

 

If you’re a business owner, you must learn how to identify and manage your money blocks on an ongoing basis. It’s a problem that particularly affects women and it usually affects how they price their products and services. But solving any pricing problems you have isn’t simply a case of looking to increase your prices - you need to work on the mindset side of things too.

It’s a subject I was chatting with Catherine Morgan about on my recent podcast. Catherine is a financial coach and qualified financial planner. She helps women feel better about money, as well as helping them to drop any anxiety, blame, judgement and guilt around it.

Why charging what your worth is flawed

The philosophy of charging what you’re worth is a flawed one. Your worth may not be very high, especially if you have low confidence or an issue with receiving money. The way we feel about money is a reflection of how we feel about ourselves. If you don’t feel deserving to...

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Podcast Episode 4 - The Pricing Mindset with Osmaan Sharif

 

In this episode:

  • Becoming a business owner not an employee
  • Imposter syndrome
  • Increasing your pricing
  • Pricing blocks

Osmaan Sharif is a business and mindset coach who works with ex-corporate professionals to help them overcome obstacles and grow their own business. Osmaan talks to The Pricing Queen about his rapid transformation formula which involves focussing on the big picture of your business by understanding three fundamental foundations:

Design (includes business model, vision and goals.) 

Mindset (overcoming your internal beliefs and understanding your value) 

Strategy (or, as Osmaan refers to it, your entrepreneurial superpower.)

Take Osmaan’s free quiz so you can see how strong these foundations are in your business in less than 2 minutes. Sally and Osmaan discuss understanding your upper limit to overcome imposter syndrome and what you need to consider when looking at setting and increasing your prices. Also, why you should be wary of competitive...

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Investing in your business

How do you feel when someone says to you that its not that you can’t afford it, that its about whether you believe that they are the right person to take your business forward?  This really annoys me as every business has limits as to what it can afford, so it is always about the money for me.  Maybe I don’t want to get into debt for that £5k course, or maybe that’s not my money priority right now.
 
There is definitely a mindset issue about spending money in your business and this often comes when you think something is too expensive or you shouldn’t spend that.  So, tap into what is the issue really is.  Is it that you don’t have enough money or is it that you are afraid there will not be enough money in three months’ time? If you have a clear plan as to what you were going to do with your money and where the income is going to come from over the next three months you could decide whether to invest.
 
Do you...
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Money mindset

Why do you find difficult to manage your business numbers? Is it because you were told at school you were bad at maths? Is it because you’re just terrible with money?  Have you had debt in the past?
 
These things do not have to be true in the future. However, it is also true that many, many business owners start their business without any real idea about how to manage their numbers. It is one of the most critical part of your business.  You need to manage the numbers carefully but often you set up and run your business without any experience with the numbers.  Many people never take any courses or undertake training in this as they just sort of expect to be able to manage it. 
 
I feel the same way that a lot of you feel about numbers about marketing and recording videos. It feels me with dread and I put off doing it as much as I possibly can. However, I know my business won’t grow if I don’t do my marketing and to this end I’ve...
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