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Is Your Money Mindset Killing Your Business?
You may not know it but everyone has a money mindset. Your money mindset determines how much money your business will make and how you’ll spend it. See if you find yourself holding onto any of these negative money beliefs:
I can’t earn more than ABC
You may internalize a certain figure thinking that you can’t possibly more than that each week or year. For example, you may think that you can’t make more than 20K annually because that’s how much you made when you were working at your job.
But you have to understand that a number is just a number. It has no power over you unless you allow it to. Try re-affirming yourself by using a new number that’s bigger than your old one. For example, say, “I choose to earn 50K each year.”
I’m not good enough to charge more
Raising your rates can be scary. To avoid dealing with this fear, you may choose to repeat a self-limiting belief like the one above. This can make it hard for you to gather your confidence and charge what you’re really worth.
Some solopreneurs and coaches overcome this issue by choosing to do incremental price raises. This can help you ease into a higher income level and get you used to quoting bigger prices to customers and clients.
I’m not making enough to invest in my business
You don’t have to crack six figures before you invest in your business. You can still build it, even if you have a tiny budget. Buy a small e-book or course on a topic you want to learn more about. Fully implement your new investment so you get your money’s worth.
The good news is a bad money mindset can be reprogrammed. You can learn how to think differently about money and your business so that you can achieve lasting success.