We get a little funny about money as healers and helpers. We love what we do and are guided by service. Which is why it’s so challenging to put a price tag on our gifts, talents and services.
Take it from me, darling, you can only give from a full tank.
If overwhelm is an issue for you right now, it’s time to take a look at those energy leaks.
Let’s start with money energy.
Money is energy that yields the nourishment you need at all levels to keep giving, to keep doing your transformative work, to keep sharing.
If you’re a conscious entrepreneur with a generous heart, chances are you’ve felt the pang of sharing your gifts for little (or no) remuneration.
Do you hesitate when it comes to pricing services or products?
Here’s what I mean —in a mini-drama:
Potential Client: So, how much do you charge for your Transformative Yoga Therapy Sessions / Intuitive Coaching / Art + Meditation private classes?
You (Talented, visionary, soulful ‘preneur): Well, usually I charge um, well, $50 (*voice gets low and muffled*), but for you, I can do the first session free and a 20% discount off future sessions if, well, if you know, if you can’t afford it (*that last part is stammered out with a fair bit of hesitation*).
ACK! You and I both know what happens next. Either the client books (and you feel resentful) or the client doesn’t book (because why should they? There was no value in it).
Putting a price tag on your gifts bring up fear, money issues, limiting beliefs around your own worth and the ever-present scarcity issues. Potential clients can feel that …and nothing sends a potential client running for the hills faster than your money issues.
Are you clear on the leveraged income streams in your business?
The Pareto Principle tells us that 20% of efforts yield in 80% of results. 20% of clients result in 80% of income. Are you allocating enough time to the important things in your business or are you spending time on the urgent? Identifying (then doing!) the 20% actions that result in even more income and expansion in your business is a solid strategy for success.
If you’re drowning under a list of urgent To-Do’s and watching days (and dollars) pass you by, then take a gander at the list below.
It doesn’t have to be that way.
Let’s heal those money wounds and close up the energy leaks in your business post-haste.
I can’t tell you how many times incredibly talented women (my clients) have apologetically quoted their rates to me only to go into shock when I (almost immediately) tell them to double those rates. The reason clients earn more immediately after working with me —even if it’s only a free session —is because we begin by balancing the energy (and money is a form of energy).
Here are my top tips for healing your money wounds and stepping into abundance as a healer or helper. These are the exact steps I teach my private, VIP clients, and the precise “formula” all successful entrepreneurs apply.
1 :: Set a rate that reflects a living wage and allows you to remain in financial ease.
Nothing harms our industry (healers, coaches, yogis, transformative teachers) more than too-low rates for one-on-one services. If you think you have to charge less in order to make more, you DON’T. In fact, placing a too-low price tag on our gifts in the interest of “being competitive” often undermines the importance of our work in the eyes of our potential clients. Lastly, each time you undercut your industry by charging too little, you contribute to the epidemic of other healers, coaches and yogis who can’t make a living doing their transformative work.
Be reasonable and rational when setting rates. Consider yourself with a full practice or client docket :: how many can you reasonably see in a week? How much do you need to earn in a week? Align the numbers for a good starting point. Need support with this one? Head over here and we’ll hash it out together.
Remaining in financial ease is my term for the amount of money you need to earn to support the lifestyle you desire, while saving, investing, and tithing. What lifestyle you desire and how much you’d like to save is up to you but many experts suggest at least 20%. Again, investing is entirely up to you as well: remember to consider retirement. Tithing is a personal spiritual practice that has made a tremendous difference in my life (see #6).
2 :: Offer a limited number of complementary sessions.
If you are establishing yourself as a Leader and expert in your field, you need to spend some time getting to know WHO your dream client actually is.
If you are already established, you want to spend time connecting with your community so you continue to create valuable resources and services they need and want.
Hop on the phone a few times a week for complementary introductory sessions and promotional sessions. If you’re trying to discern WHAT your dream client really needs or wants, then 20-minute free sessions or promotional sessions (with feedback requested as a condition) allows you to discover the ways you can meet their needs.
Call it a tithe, an offering, or an experiment: free sessions have their place. Do put a cap on it and remember to track your time for this service. Decide how many you will do, when you will do them, what you will call them and how people will get them. Want to see how I run my own freebie sessions? Head over here.
Here are some valuable free resources for managing your complementary sessions with ease.
Schedule Once —you choose your time, client books with an easy to use click-to-schedule option. Sends you an alert to approve the session and issues you each confirmation and reminder emails. Integrates with Google and iCal and Android. Free + Paid version.
Calendly —has all the same features as Schedule Once but better free version. You can have multiple session types and lengths. Also: the branding is gorgeous!
3 :: Decide on your growth metrics and definition of financial “success.”
Do you want to double your income annually? Do you want to make a million by 40? Do you want to see a 20% return on your investments of time and energy?
Seriously. Sit with your personal metrics of success it for a bit then come up with hard data. Numbers, percentages, metrics. Be equal parts practical and magical with this process. Use your intuition and spreadsheets.
Then: Name it to claim it.
Once you have hard data work backwards from those numbers with reasonable efforts on your part.
Goal: Double Net income next year
Needs: Steady growth for the next 12 months (at a 10%+ increase in profits)
Action you will take: Offer a higher-value program to double Net income
How to do that: Ask your 20% what they need! Create a higher value program that fits their needs. Offer community building to grow your audience for the new offer. Launch the high value program. Fill it. Boom —income doubled.
Want some support on that? That’s what I do…and I’m here.
4 :: Commit to taking the daily actions necessary to heal your money wounds.
Do you have a scarcity mentality around money?
Does another person’s success (or wealth) trigger sadness or jealousy?
Do you think you have to choose your spiritual practice or wealth?
Do you avoid money and money-related tasks? Are you avoiding facing your fears or limiting beliefs about money?
Do you spend time on tasks you could outsource just to pinch pennies?
Do your sessions frequently go over time?
Do your clients pay you promptly or are you chasing down your money?
Are you spending time working on the weekends just to “catch up”?
Do you want someone else to take care of “the money” stuff so you can only focus on service / creating / sharing your gifts?
Are you waiting around for all that money you fervently manifested to show up in your bank account?
Ok, it’s time to get personal with the energy leaks in your business. If you answered yes to more than 1 of the questions above, it’s time to heal those money wounds.
Look at the questions you answered “yes” to: what are the themes? Time? Money? Worthiness?
Keep digging for the deeper reason behind the behavior. Only then can you find the root of the issue and begin to heal the wound from the source. You may need to adjust your relationship to time first. Once you begin to value your time, you see the costs and gains associated with overwhelm, with DIYing, and with poor boundaries. Stay committed to doing the 20% tasks that will leverage your business success during the first part of your week. Remain attentive to the time-sucking tasks in your business. Avoid time wasters during your most productive hours.
Then, adjust your relationship to money. Money is merely an indication that your purpose, your mindset, your intentions and your work / career / business are in alignment. If your business isn’t on the abundance upswing, it’s time for a change. That may mean doing things outside of your comfort zone like blogging every week, posting in Facebook groups, reaching out to past clients directly, or delivering a live workshop / class to promote your one-on-one services.
If you’ve reached a plateau (run out of time or other resources), you may need to get experimental and add income diversification to your business. If you’re in the service industry, you can begin selling products. If you’re already selling products, you may want to sell leveraged services. Check out the other examples below.
Example: sharing products that support the work you do, joining an affiliate program, shifting into group programs, adding virtual products or programs.
Ah, worthiness. If you’ve reached the core of the energy leaks in your business and find it’s related to your own self-concept, fears, or feelings of worthiness, join the club. You are in good company —generations of successful women entrepreneurs struggled with the same issues. Call it your birthright (and your gift to future generations) to face those fears, to own your worth and to heal those wounds.
Making the commitment is how you begin to heal the energy leaks in your business and shift the money energy back into alignment.
5 :: Face your fears
Do you have a host of fears around money?
Do you fear power —and the power money provides?
Do you fear failure or risk-tasking?
Does balancing your checkbook give you anxiety?
Do you dread bill-paying time?
Do you worry about never having enough?
Do you avoid money To’Do’s (money management, investment, income planning) because you don’t want to be seen as a “money-motivated” person?
Do you have a fear of success —or of the person you would be if you were wealthy / successful / well-known?
Then tackle those fears and limiting beliefs one by one. If you fear power (or the person you would turn into if you were powerful) write a code of ethics for your future powerful self. If you avoid bills and the monthly tracking of your spending, use a budgeting tool to keep you happy and on track all month. If you fear being seen as “money-motivated” and that’s keeping you from planning, managing or investing your money, get a coach to support you in working through those self-sabotaging behaviors.
Some of these fears and fear-based actions were picked up from your formative years. Until you face those fears and challenge the beliefs, they’ll continue to haunt you (and sabotage your business success).
6 :: Give Back
As a recovering Southern Baptist, I learned at an early age that tithing is what one does. 10% right off the top, given back to God. I watched my parents faithfully tithe 10% even when we had very little. I remember being worried about how we were going to buy groceries and wondering why God needed our money. (Especially since Heaven’s gates were made of pearl and the streets were paved in gold. But I digress.)
I also remember envelopes of cash in our mailbox just when we needed it most.
I didn’t tithe for a long time because I moved away from a religious community at 15. Instead of tithing to a religious organization, I now practice the dana of generosity and give 10% of my income back to my community. I prefer to give to people in my immediate community rather than organizations —and I give to those who need nourishment and to those who’ve nourished me spiritually. I would never tell you what to do with your money, but I’ll share my personal belief: abundance is already our birthright. When we practice generosity, we recognize this universal principle of abundance. Money is merely one aspect of the abundance we already embody. Tithing is a practice of recognizing that abundance and giving it back in a way that honors your own spiritual practice.
Did I miss anything? Share your best energy-balancing tips in the comments below!
This post is part of the Brave Blogging project, hosted by the delightful folks over at Makeness Media. Read more brave blogs by searching #braveblogging on all social channels.