September 2008-The Money Issue-How to Ask for and Receive What You're Worth

Do you self sabotage around money and asking for what you're worth?  If you're a solo entrepreneur, there is a high likelihood that the answer to this question is "Yes". 

Many solo entrepreneurs are great at what they do but have difficulty asking for and receiving a decent wage.  Often they squirm when talking to prospective clients about their fees and if the prospect hesitates they may say something like, "I can offer a discount, or what can you pay, or we can trade services." Well you've just devalued what you do and perhaps disempowered the prospective client as well.  You've heard the old saying, "you get what you pay for" and often if someone gets something free or discounted they are not really invested and don't put much into the service or using the product that has been offered.  Contrast this with paying for something, maybe even saving or stretching to obtain something of worth. Then you have a motivated buyer. The prospective client wants to choose you when they feel you have the best service or product for them.

You deserve a good income! 

When you offer something of value to your clients and support them in their goals you deserve to be paid well. You wouldn't work for someone else and not get paid would you? In fact when you go to work you obviously expect to get paid for the work you do.  If you weren't being paid you'd begin to look for another job.

When you're a solo entrepreneur the same rules apply.  When you give your services away for free or next to nothing ask yourself a question.  What is my motivation here?  Sometimes giving something away is noble; you are "in the flow" and aligned with spiritual principles of abundance.  You desire to share from that place where giving is truly your gift.    Other times, however; and especially if you're coming from a place of not trusting then your motivation is different.  Then giving services or products away can perpetuate the belief you might have in "lack" and even more strongly the belief you have that you are not valuable or worthy of  a certain amount of money.  When you devalue yourself by taking less than ideal clients, or trading services with someone that are not of real value to you, or charging next to nothing,  you are in fact saying, "I don't deserve more." Contrast this with saying and believing that you have a valuable product/service that can help others and that you deserve a good income.  This is the Law of Attraction" in action, folks.  If you were to stay in this "not deserving" mindset for too long you will attract less than ideal clients.  If your intension is to support people and give a great service then others will be drawn to you and they will pay your price.

Question Your Mindset

In working with clients on money issues, it's apparent that many have a comfort zone or "set point" about how much money is acceptable to make.  Here is a powerful exercise:  Chart your income since you first started working and look for patterns.  Many people found that they were fine making a certain amount of money, let's take $30,000 for instance, but when they made more that that one year something happened.  Often, their income dropped significantly below their "set point" the following year and stayed below that figure for awhile; or they were unable to make more than their highest earnings. From this powerful exercise of charting their income they learned about their mindset on how much money was acceptable.  Anything over that set amount evoked thoughts and emotions of "being greedy", "rich people aren't nice", or a number of other unconscious beliefs patterns that held them back financially.  Once these beliefs were brought forth into the light, they had the opportunity to question outdated beliefs.  Often these beliefs were not their original beliefs but things they had been told by their families, society, schools, etc.

So what can you do now?

•       Start to value yourself and see yourself as worthy of a greater income.  Once the worth of your product or service is established for your prospective client, allow them to "choose you" by paying your asking rate.

•       Examine what your set point is and be willing to challenge beliefs that no longer serve you and your higher purpose.  (Do the "chart your income" exercise mentioned above)

•     Write down how making a good income will make a difference in your life and the lives of others.  This part is powerful.  It is often way more than just paying the bills or having a nicer house.  Many people find they have dreams of making a difference in the world in a BIG way thus contributing to a more conscious, loving and just world.  Many people get in touch with heartfelt childhood dreams they let go of a long time ago.

•       Let go of potential clients (or current clients) that are not your ideal clients.  Your ideal clients will be willing to pay your fees when value has been established.  When you talk with prospects about your fees and they balk or tell you they can't afford you be okay with that-let them go. Resist the urge to automatically discount your fees.  You may be suprised  that once you do this the prospects find ways to pay for your services.  You can also refer them to someone else who has a different fee structure.

•      Raise your rates.  Yes I know this is making you squirm a bit, yet doing this is saying to yourself , "I am worth it" and I deserve to get paid a decent income.  It is often a strong signal/message for prospective clients that they will get great services/products from you.  When solo entreprenuers have done this, many are suprised that they begin to "attract" people who can afford them and believe they are worth the fee.