Supercharge Your Motivation by Fixing Your Money Mindset
WHY is it that when you go solo to start your own business you felt really free to start with – you’re not answering to somebody else. You felt empowered to create the life you’re really looking for….?
And then things start to change, sometimes without realising it.
The overwhelm kicks in, the disorganisation doesn’t seem fixable and instead you can’t see the wood for the trees.
There's a lot more going on than just the fact that your salary isn't dropping into your current account every month. Even if you've got enough set aside whilst you build your business and have some financial security.
What is the problem, how can it be so difficult to close a sale, to get motivated….to even get to that point? Surely having your own business is the dream, you feel free, you’re doing what you love?
Yes, self-esteem, worthiness and practical things such as having the right product or service all matter. I’ve been there myself. What’s really going on…your MM has a lot to do with it…
How does your Money Mindset (MM) get involved? Getting a ‘lump sum’ into your account from a job is very different to receiving multiple smaller payments into your account from your business….that you have to work REALLY hard to achieve.
Effort needed for marketing through to winning business, getting paid & delivering the product or service can feel overwhelming and almost like wasting your time. Especially as it may have to be repeated multiple times to replace your income.
The psychological safety and lost rhythm of receiving money into the bank account can lead to uncertainty, triggering stress, anxiety and a scarcity mindset.
This leads to lack of energy, no motivation, overwhelm and procrastination. You stand still paralysed.
Our MM can sabotage all the efforts we put in to cope and win business. Chances of making money become blocked or stifled.
Maybe we’ve become afraid of:
- winning the business but having too much to do to deliver our product or service
- not feeling good enough to deliver the product or service – good ‘ol Imposter Syndrome
- losing the money once we’ve got it
- being greedy, no one will like us
- too much work involved, we feel we don’t have the time
- ‘it didn’t work last time’…
-….and on and on…
This all sounds very doom and gloom but there are ways of pivoting, getting your mind in the right place so that you are happy to receive money; so that you’re confident in your abilities; you're happy about your pricing and you are confident to speak to your prospective clients, explain what you do and the value you can bring to them.
To get your MM in the right place - I’ve a few practical tips that can take you from scarcity to security and stability; to revive your energy levels so you can win the business, make the revenue you want and live the life you want - on your terms:
1. Focus on Yourself
This is SO important. Cut out the noise, other people’s timetables and negativity, right? Easier said than done. The good news is that the more you practice on focussing on yourself when it comes to your business, the more it becomes habit, it feels easier and your MM improves along with your business and energy levels.
Try these few ‘use now’ hacks to help you build in a ‘you’ focus to your business:
· Tune In
Find a quiet spot or put some headphones on with your favourite music, make yourself comfortable and ask yourself how you’re feeling…REALLY feeling…
If you can, spend the time you need to get a good understanding of how you are feeling. What are you grateful for, what’s not so good. Think about what you can do yourself to improve the not so good feelings.
Focus on what’s in your control.
If you can find 10 minutes a day to start with, this practice can help ground you, build a positive MM and silence the negative thoughts and feelings.
· Build Internal Security & Peace
One great way to help build internal security, stability and peace is to get a notebook and write 3 things you’re grateful for when you wake up and before going to sleep.
Gratitude can be so helpful to tune your mind into the positive things that are happening. Bring them to the fore so that they don’t get lost in the myriad things that happen in our busy worlds.
And, it’s great to look back to see where you were a few months ago and how far you’ve come.
· Filter Opinions
When you get unasked for opinions on you, your business or ideas – ask yourself:
- has this person done what you’re trying to do?
- do they genuinely care about you & your business being successful?
- is there something in what they’ve said…or should it be disregarded?
Unless you have 2 ‘yes’ answers, look further. If not, thank them and move on.
· Create Discernment
The next time you feel someone is negative towards you, your business or ideas and you can feel it hit your body – ask yourself:
‘Is this my Truth, or are they projecting THEIR feelings onto me?’
This creates a switch from taking anything personally, so that we can put it in the place in belongs:
- If they’re projecting themselves onto you – drop it and move on
- If there is some truth in it – think it through and act on it as you see fit.
2. Increase the value of a sale
To summarise this - you're going from say £5,000 a monthly income dropped into your account to selling a product or service say £200 per item. Try these:
· Bundle Baby, Bundle!
Create a bundle with complimentary products / services – improves revenue opportunities
Pros - same level of effort, bigger reward for you, makes it feel worth the effort, get to your target more quickly
Cons – difficult to create a bundle, costs more for the client
· Package Your Value
Deliver your service in person or on Zoom as a training package over, say over 4-10 weeks
Pros - build once, sell multiple times, build relationships during delivery, build customer loyalty, bigger reward for you, makes it feel worth the effort, get to your target more quickly
Cons – difficult to create a course, need to create the course
· Digitalise
Provide your service as a training package digitally which you can sell on a Webinar
Pros - you don’t need to be involved in the delivery, build customer loyalty, bigger reward for you, makes it feel worth the effort, get to your target more quickly
Cons – effort needed to market, costs more for the client
3. Make the revenue feel winnable today
Getting started can feel impossible such is the overwhelm. Paralysis has sent in and your work doesn’t feel do-able, easy to procrastinate and leave it to another day.
Options to try:
· Chunk & Change Focus
Timebox your tasks, especially high value such as marketing. They don’t need to take all day, every day. You’re not shirking by doing 3 hours per day or per week. It’s consistency that counts. Use the Pomodoro technique:
20 minutes work, 5 minutes rest or standing up – rinse and repeat making sure your have 15 minute break every hour and a half.
Pros - same level of effort, by chunking and changing focus, your brain stays engaged on value tasks and not wander, bigger reward for you, getting closer to winning revenue, your task is delivered more quickly
Cons – getting clarity on what is a value task, distractions
· Commit to a Scary Date
Commit yourself to a webinar or sales event. Put the date in the calendar, post a ‘save the date’ on your social media of choice
Pros - you don’t want to let others down, gives you focus, increased chances of sales, get to your target more quickly
Cons – loss of face if you can’t deliver, knocks confidence if not delivered (BUT - if it doesn’t happen, it’s not the end of the world…)
· MVP Your Marketing
Diarise your minimum viable marketing process one hour every day, protect it like a client meeting - 20 mins respond to 5 posts comments with meaning - 20 mins direct outreach to 10 prospects - 20 mins follow-up replies to your posts
Pros - consistency build confidence, results are measurable, builds your audience, doing something active, engagement leads to more prospects, more clients
Cons – needs to be targeted to be most effective, can feel tedious and get dropped as a task
—->> We can get money back, but we can't get time back
Focussing our minds, time and energy in the right areas will pay dividends for you and your business. I hope you find these practical tips and hacks useful; they should help you focus on what matters – You and Your Business!
If you’d like to have a conversation about any of these subjects, please get in touch, I offer a no obligation 60 minute call. Contact me on info@sue-shepard.com or mob: +44 07841 769977.