72. 5 Money Beliefs Holding You Back From Making Money
n this episode, we dive into 5 key challenges that many business owners face and how to overcome them to make more money.
1️⃣ Pricing Confidence
- The journey from under pricing to confidently setting higher prices.
- How increasing your rates can attract the right clients and push you to excel.
2️⃣ Building a Supportive Team
- The process of finding individuals who align with your vision and can contribute to your business's success.
- The transformation that occurs when you let go of doing everything yourself.
3️⃣ Fear of Rejection
- Reframing rejection as a learning opportunity and focusing on the positive potential outcomes.
- Emphasizing that people need what you have to offer, and not everyone will say no.
4️⃣ Redefining Sales
- A fresh perspective on sales and how desperate energy can show up and repel clients
- The importance of genuine passion and belief in what you offer
5️⃣ Saturated Markets and Competition
- Embracing your uniqueness and understanding that no one can offer what you do in the same way.
- Recognizing that people buy into you and your energy, making room for everyone in the market.
Be sure to leave a review if you found the episode helpful 😍
Remember, your unique energy and passion sets you apart and there's always room for success for everyone in the entrepreneurial world.
Carla x
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Welcome back to the Money Mindset Hub podcast. I'm your host, Carla Townsend, and I'm a money mindset and success coach for female entrepreneurs who are ready to manifest a masterpiece in their life and in their business. So let's get started.
Hello, and welcome back to another episode of the Money Mindset Hub podcast. So I'm your host, Carla Townsend, and I'm a money mindset and success coach for female entrepreneurs. So this episode is all about five common beliefs that might be holding you back from making money in your business. So this is my jam.
I mean, when it comes to any form of money block that you might be experiencing, I've seen it all before. And more than likely I've also been through it myself, or I have coached mentored one of my clients through this as well. So this one's an interesting one, but if you're feeling like, Oh, I just want to make more money, but I just can't get out there, or there's just certain things that are coming up.
First of all, I want you to ask yourself, what kind of money do you want to make? What is your revenue goal? Now, remember there's a very big difference between revenue and profitability. And there's a very big difference between sales made and cash received. So that's the first thing I just want to discuss is revenue is the overall amount of money that you're actually making in your business.
Profit is the amount of money left over. At the end of the month, when you've actually paid for everything and all the running costs, because as your business does grow, and as you do start to outsource, or maybe you up level your platforms or the systems and software and support that you have in your business, of course, the running costs, the expenses they increase, it's natural for it to do that, but also what I do see is really common themes as to when people are just really holding themselves back from making this, making the kind of money that they desire. So think about, first of all, in your head, what is the kind of money that you actually want to make, whether it's monthly, quarterly, yearly, whatever it is.
And. Pitch that in your mind's eye right now. 📍 What is it that you were going for? What's the goal? And remember that every time you get to that goal, it's just going to continue to change, because you're always up leveling. So things are going to change. You're going to grow. You're going to expand and money is subjective.
A lot to you might be not a lot to someone else or not a lot to you might be a hell of a lot to somebody else. So just remember that money is a personal game and money is an emotional game. The more that we can bring neutrality to money, the easier things are going to be. Neutrality means just taking that emotion out of it and you're running a business here so you want to make money. If we don't make money, the business is not sustainable. All right. I've written a couple of notes before I did this. So I don't go off on tangents because if you know me, you've been listening to my podcast for a while, occasionally go on a tangent, but then there's always a point.
There's always a point and I'm definitely an oversharer, but anyway, here we are first one. The first belief I see is that I can't charge that because no one will pay. Have you ever experienced this one before? I have, I'm guilty of that. Like if I increase my prices to that much, no one's going to pay. So here's a little backstory.
When I first started offering private coaching the first time I took on private clients was 4 99 US a month. And then when someone just paid that, I was like, okay, well, I'm going to uplevel it a bit.
And I kept pushing myself. And this is the thing, when it comes to your prices, you're always going to be too cheap or too expensive. It is not about pleasing everybody is about setting a price that activates you to show up and the higher the price that you put, the more that it scares you, the more that you're like, Oh, if someone paid this, this was so exciting.
It raises the bar, right? It raises the standards and it makes you show up in a different way. It makes you take it a hell of a lot more seriously.
So it doesn't have to be private coaching, but this is just my example for you. So anyway, that's how much I was charging when I first started. Then I raised it to 599. Then I raised it to 997. Now private coaching for one month. Is one nine nine seven us. So that's about three K Aussie.
And guess what? That's what they pay and they are happy to pay it. And I have a client at the moment who worked with me when I was charging nine, nine, seven. And then because of the transformation that she got out of that time, now I'm talking. She went from having a couple thousand dollars a month in different businesses, but she was building like this this passive income and she was just completely shifting a whole lot of things.
So she did that. We worked through so many blocks that she was having around it, elevated everything in her life because truly it's a holistic transformation is what happens with this kind of work. And then she went on to make, nearly 14, 000 in the month. And now she makes about 500 a day. So then she said, you know what, I just need to treat myself and I want to get private coaching with you again.
I want another month of private coaching. And I said, of course, because obviously that month was so potent for her and she got so much from it and she just wanted to do it again because she just wants that one to one.
And sometimes people just want that one to one. I have found that I want the groups that I want all that. That's all great. But some just really want that deep connection. And one to one is like the highest form in my business. Anyway, it's the highest way to work with me. the closest proximity that you will get to me is in one to one.
You get my all because I'm very invested in my clients. And then I said to her absolutely, let's do it. You're definitely ready. My pricing has actually doubled. it's now one nine, nine, seven for a month. So that, that is a big jump.
And she was like, yeah, sign me up. So let me ask you again. 📍 Where is this block holding you back? Because if I allowed that to be like, okay, well, people pay 997 us a month to work with me. I'll just stay at that, but I knew that it was time to elevate. I knew that it was time. And when I went, you know what?
I'm going to double it because I'm so confident in myself, in my abilities, in my work to see my clients deeply and for them to get the transformation that they desire. And I will hold them accountable to get there. Then I know that the right person, the one that truly values me and my work will pay that.
And she did. And she's so stoked. this is a way that she's treating her wealthy woman is what she said. I'm treating my wealthy woman to another month of private coaching, regardless of the fact that it is doubled in price. She did not get scarcity and fear around that. She was like, Nope, this is what we're doing.
So this can lead to underpricing. If you think that if you raise your prices, no one's going to pay. Trust me, they will.
So where are you underpricing your products you don't think that someone's going to pay those higher price because trust me, when they see the value in it, when they have worked with you, when they have seen what they can get in themselves, the difference, the intangibles that they get from that, the confidence, the self belief, the self conviction, the vision, their mission, everything's so clear.
And they get the results because they've done the work, right? You can't force someone to do the work either. But when they do, and they get the damn results, they know it's because you've also activated something in them. You've activated them. The more activating your price is, the more that they will show up and do the work.
So just think about that. Where can you reframe that for yourself? Because I promise you, as you raise your prices, The caliber of your clients are also going to improve because you're activating them. You're bringing them up. You're raising the standards and they will pay that when they see the value in it, when they see the value in you and what they get and who it brings out within them.
They will pay it every time.
So the second one is. I need to do everything myself to make money. Okay. So we've all worn this hat at certain times when it's been a one woman show, we're doing all the things because sometimes we take too long to actually outsource. And I'm so guilty of this too. I had to do everything myself for a while because maybe I'm a little bit of control freak.
And also this business is my baby. It's my baby. And I don't want to bring people on into the team who I don't feel like get the vision. But then when I've trusted my gut, when I've trusted my intuition, they are my people. They are my A Team. That I don't need to do it all myself.
They can do just as good, if not better of a job than me. That's when everything amplifies again. And my business has continued to amplify because I began to find my 18. I said this to my beautiful hair and makeup artist this morning, because I had a photo shoot today. And I said to her, I feel like I've found my A team.
Like I found you. I found my incredible photographer, I found my incredible assistant, my incredible bookkeeper. I just feel so supported and as I feel more supported and as I'm also calling myself forward and I pay these people, especially, my bookkeeper and my beautiful assistant on a monthly basis, like I'm paying them monthly.
It also elevates me to continue to earn more money monthly because I would love to continue providing the opportunity of giving more people work of sharing this money around. Money is energy. I want it to continue to flow around and around to people who value what it is that I'm doing. Value my business, value my work.
And with that, we are all creating this beautiful mission-driven business together, and we as a collective are raising our clients up. We as a collective are this business. This business is not just me, myself, and I, and I'm not just doing all the things. The more support I have, the more that I can actually create.
So 📍 where can you just let go of certain things that are not in your zone of genius and know and trust that every time you let go and you get the support that you need. You're going to elevate yourself. You're going to activate yourself and you are going to create more money in your business because you will create more of an impact.
You'll be able to reach more of your beautiful clients because they need you. They need you or you wouldn't be doing this. Someone needs what it is that you have to offer. Someone needs that. And you doing it all yourself and trying to wear every hat until you can afford it or what you think you can afford.
It can slow up the process, it can make it take so much longer than what it needs to be. The most successful business owners are the ones that know when it's time to outsource. And sometimes it's about outsourcing before you actually think you are ready, but that activates you.
It inspires you. And honestly, if I could have gone back, that's what I would do. I would have hired an assistant. From the get go, because that would have activated me and I know I would be a hell of a lot further ahead now than when I was trying to do it all myself with three preschool age kids under my feet.
Anyway, so that's the second one. Now, the third one that I see is the belief of. I just don't want to be rejected. It's this fear around rejection. It's this fear around, you know, putting your prices out there, putting your work out there, and then people just saying no, or maybe casting their own projections onto you and saying that's too expensive.
And remember, like I, what I said, you'll always be too cheap or too expensive for someone. What someone can afford is not your problem. I've had people come to me who are not actually earning money in their business at that point, but they have savings. So they paid for private from their savings, even though they weren't currently making money in their business.
They just needed support. They needed support. And now their business is back up and running because they did the inner work and they got the guidance. They got the support. They believed in themselves. They built that belief within themselves. And they knew that it was important to do that and that they needed somebody else to actually come in and say, just show me where my blind spots are, show me what I need to work on. I think that's the most beautiful thing. And the most activating thing working with someone in a mentor wise is because they're going to highlight to you. What you don't see, because when you are so close to your own situations, it's so hard to see what's very obvious to someone else.
So that's one of the most powerful things I think. But also what I think is most powerful is you are getting into the energy of this person. You are seeing the way that they hold themselves, the way that they shift through beliefs. They shift their energy. They move, they challenge themselves. They, they tackle adversity.
They build resilience. Like you get to say all the behind the scenes too, when you do work with someone or whether it be through their program, through the service, whatever it might be, but you get to raise up and realize that everyone gets rejected. 📍 Everyone gets rejected, but it's about reframing that rejection and not being scared of it because the fear of being rejected can be so paralyzing, but people need what you have.
So if you're too scared of being rejected, what if you could flip that and say, but what is the best case scenario? The worst case is someone says, no, that's literally it. So the fear of rejection is someone turns around and says, no, but what if they said, yes. What if the next five people said, yes, what if the next 50 people said, yes, how life changing would that be play into the what if, play into the possibilities, play into your bigger vision and shift and flip those beliefs and those thoughts as they come in and never stop moving and nothing is ever a failure,
a failure is when you stop trying all together and you give up, which you're not going to do. Rejection is a part of this game. Rejection builds resilience and you've got what it takes. So you just got to keep flipping that fear. Who cares if you get rejected, maybe there's a lesson for you to learn.
I always believe that there's a lesson in every rejection. There's a lesson in every perceived failure. And every time that we don't necessarily nail it, there is always a lesson for us to learn. Maybe there's a different way. Maybe there's a better way we could do things.
Maybe we could be more prepared. Maybe we could articulate it a little bit better. There's always different ways because. It's just a game at the end of the day. It's just a game. And I know I said that all the time, but it truly is like entrepreneurship is just a game and you've got to build resilience to be able to handle it and stay in the longterm.
The fourth one is, but I don't want to seem salesy. So let me reframe selling for you. Selling is simply sharing your message with the world. Selling is simply sharing your gifts, your talents. What you have to offer, maybe it's product, maybe it's a service. That is you sharing your gifts with the world and somebody needs what you have and what only you have in the way that you do it.
Now, the way that I can see salesy, like someone feeling like, Oh, it's too salesy. First of all, I want you to ask yourself if you've got that one coming up a bit, I want you to ask yourself, do you need the money need, need, need, now think about it. When someone is sharing something that they offer because they frigging love it.
They believe in it. They know that it's going to be so powerful and potent that I don't need to convince. You don't need to convince anyone to work with you when you are just like, this is so damn good. I know I'm just going to keep talking about it. I'm going to talk about these people if they're being quiet about it.
I mean, so for me, I'm a projector. So one of the ways that I sell or I say what it is that I offer is because I wait for the invitation and the invitation always comes in the form of like, Hey, I want to talk about this or hey, I saw that you offered this or people just come to me in the DMs all the time or in my emails all the time.
So I will simply answer their questions. Do I need the sale? No. Do I want to, of course, of course, I know I can help them. And so do you, you know, you can help your clients, you know, you can help your potential clients. But this fear around coming up to salesy, the only time someone feels salesy is when there's this desperation behind selling, when you need the money for it to work, when you are like hanging for this sale.
That's when you get this energy of two sales. You can come up this desperate energy. You can come up and we all think of car salesman, we all think of that, like really push, push, push mentality. Like sign today. You have to sign by the end of the, the end of the discovery call or whatever. No, they can get the facts. They can ask you the questions. You're going to tell them exactly what it is that they want to know that it would be so great for them because. share the benefits of the program, share the benefits of the service or whatever it is that they're asking about or that you're wanting to sell.
And then sit back and let them decide when it's time for them. And if it's not time for them, that's fine. They'll come back around. I'll always come back around. I know that there was people that were wanting to work with me privately when I was charging half as much as what I'm charging now to work privately, obviously if you book three months or six months, it's a little bit less, but it's a longer term commitment. So it costs less every month, but you know, people be kicking themselves and you probably the same. People be kicking themselves and they didn't get you at that price.
I didn't get that service at that price or that program at that price or whatever it might be. And now your price has gone up. But that's on them and it's not on you. And eventually when it's the right time, they'll see the value and then they'll come through. And if they don't, they weren't meant for you.
I always look at that as like the universe's way of protecting you from maybe clients that aren't so great. Maybe clients that you don't really want to work with. It's just like, nope, they'll say no now because it's not their time. Or maybe they needed to be activated a bit more. Maybe they needed to wait until the price was a certain point.
And then it was like, oh. Should have got in then, but now I know that it's the right time and I'm, it's gonna cost what it's gonna cost, it's gonna activate me. I'm gonna show up, I'm gonna do the work. The last one I hear, and I hear this so much, which it makes me sad because I, I see this so much in women who want to start a business or have only kind of just started, but they don't, they're not really confident in the niche that they've chosen, or it's the fact that.
This common belief comes up, 📍 the market's too saturated. There's too much competition. How am I supposed to stand out in a saturated market? No one is you have a look at how many personal trainers there are. Look at how many business coaches there are.
God, like look at how many money mindset coaches, but I still chose to have this business because this is true for me and this is what I want to do. So does it matter if the market's too saturated? Absolutely not. Does it activate you? Does it inspire you to keep going? For me, it does. And I love seeing women just talk about money and talk about business in this way. And the more women that are talking about it, the better. There's no such thing as competition. I learned that the difference is me. No one speaks the way that I speak. No one explains things in the way that I explain things. And that's the same for you that I'd have your experiences.
They don't have your. You are your superpower. People buy you. They don't necessarily buy exactly what it is that you're selling. Like the ins and outs, they can read the full sales page and be like, I'm actually in once I watch a video, you know, people buy in different ways.
But just don't block yourself thinking the market's too saturated. There's too much competition because the only person that you're in competition with is yourself. That is it. No one is you. You're going to do things in different ways. You're going to create in different ways. You're going to serve in different ways.
You're going to inspire and activate and mentor and lead and, and all of that in different ways. So find your way and find what you love and don't stop talking about it and put it out there. Get it out there. Get the support that you need. Because at the end of the day, your ideal clients will find you.
And I've been so blessed, like honestly, touch wood. I've been so blessed. Every single client that I have worked with, especially in close proximity, private clients, they have been dreams, dream clients. And guess where most come from? The podcast. How do you build know, like, and trust with your audience?
It's going to be different for each of us. I know I could talk for days, so a podcast just was fitting to me. And guess what? That's what brings my people in because they hear the way that I speak. They hear the way that my energy is behind it. They hear the way that, you know, I'll laugh at my own jokes.
People will buy you. And they will want what you have. They'll want some of what you're having because of your energy. And you're so lit up about it. And you're not worrying about everyone else. Like there are so many people doing similar things to me, but at the end of the day, I see it as like, we're all different.
I actually find it inspiring. I find it activating when I see women doing really, really well. I'm like, Ooh, she can do it. I can do it. So that's probably the best way to reframe that.
Because if she can do it, you can do it. If I can do it, you can do it 100%. And that is a belief system right there that I want you from this point on to continue to back, to continue to practice, to continue to flip, because if you saw someone else do it. Achieve what it is you want to achieve, make the impact it is you want to make, the income that you want to make, the difference in the world, then you can do it too, you just got to find your own way of doing it.
So just to wrap up, the five beliefs, the five most common beliefs that are holding you back from making money in your business. One, I can't charge that because people won't pay for it. I can't charge high ticket.
People won't pay that. Yes, they will. We've been through that. Yes, they will. Two, I need to do it all myself. I can't afford support. Yes, you can. You spend your money where you value. The more support that you have, the more impact you can make. Three, I'm afraid of being rejected. Rejection is a part of the game.
We've got to get used to that. With rejection comes resilience, and resilience is a characteristic that you need if you want to be successful in the long game, because success is a long game thing, and success honestly is an inner game. So building that inner resilience, even when you've been rejected, is still a win.
You will always win. Four, I don't want to seem salesy. Selling is just simply sharing your service, your message with the world. It's speaking to the people that you can help and it is helping them. That is all it is. It's just reminding them of how you help them. That's all it is. Now, when it comes around in a desperate energy, maybe there's something you need to do there.
Because if you need the money or everything's going to fall apart, if you need the money to put food on the table, if you need the money, or you're going to have to call it quits, that's different, there are different ways to make money, to support you in your business so that you have that freedom, but I honestly think that has been one of the biggest keys for myself is.
I don't need someone's sale. I don't need someone's money if they choose to come along this ride and they choose to let the rest of my clients that I'm here, let's go, but I'm not desperate about it. I don't need it. You know? So look at that. Like, where's this desperation coming and how can you flip that into more of a desire.
Like, wouldn't it be great if I heard X amount of money, wouldn't it be great if I could sign X amount of clients. Wouldn't that be cool. And the last one, the market's too saturated. There's too much competition. You are your superpower and people by people. So how can you show more of you? Where are you maybe hiding behind us, hiding behind a facade that you need to take down.
I hope you found this helpful. And if you did, I would love it if you could subscribe and share it with someone who might need to hear this. If you know anyone that's struggling with this kind of mentality, they're struggling with any of these blocks, please share this message with them. And if you want to take it a step further, I do have my money matrix membership, which is the place where we're going to remove your money blocks.
So you can monetize your genius online. You can go to moneymindset hub.com/matrix. If you want to learn more. That is just a low ticket membership month by month. It's a beautiful community where we're building ourselves into the women who can hold it all.
Who can do, be, have it all the recognition, the success, the wealth, the accolades the visibility, the freedom, all of it. All right, until next time, remember everything you desire and deserve is just on the other side of your own resistance.
Thank you so much for listening to today's episode. I hope you enjoyed it. And if you did, I would absolutely love it. If you can please leave me a five star review and let me know your thoughts. And if you know anyone who would benefit from listening to this episode, please share it with them until next time.
Remember everything you desire and deserve is just on the other side of your own resistance. So take that next step.