One of my yesterday’s coaching sessions inspired me to write this blog as I see it’s a common issue for several of my clients, so probably for you as well!
My coachee was an entrepreneur who reached out to me to help him understand how to get more clients and increase revenues. He had newly established his business but he couldn't see his sales growing. He kept looking for more ways to generate income but nothing substantial was actually coming out!
During our session he realized that his actual problem was not that he couldn't generate enough leads and book meetings with potential new clients, but the fact that he couldn't convert these meetings into agreements. Clients sounded really happy from what he was offering and excited to work with him… till the moment he was talking about his fees.
“I love what you do but sounds expensive ...”, “I really like what you've got going here but...”, “Your product is amazing it is just that I cannot pay so much ….”.
He started wondering if he had to reduce his prices, but this wouldn’t allow him to provide the same quality level of services. Through our discussion he realized that it was not that he was targeting clients that didn’t have enough money to pay him. On the contrary, potential clients were quite wealthy, and they were also appreciating his knowledge and skills he could offer! But what then was the real problem then? … Digging further, he realized he was holding some limiting beliefs around money! He was raised in a rather poor family and he was always conscious about spending money. Deep inside, he was feeling some guilt of asking this level of fees and that was automatically transferred unconsciously to the potential client, holding them back from signing a contract.
These money blocks are really common to come across, and this struggle to close business contracts does not come from lack of selling skills, neither it is related to your product or service. It is all about unconscious money beliefs and our relationship with wealth. This could all be related to the way you were raised, your childhood or experiences. Reality is, you can't let this hold you back from getting results.
Are you also getting feedback that you are expensive? Do you struggle to ‘’close’’ a contract? How about checking the below points I've found to be the most frequent money blocks:
Poverty mindset
Money Guilt
Fear of money
This first block, the poverty mindset, is basically that you don't believe there is enough money in the world for me. A typical sign that you have a poverty consciousness is if you feel a sense of competition when you think about others who offer the same product or service as you as it means that you believe there is not enough money to go around and that you must fight ravenously for what is yours. Ask yourself if you feel that there is a Money Pie in the sky somewhere and you have to try to get your piece and keep others from stealing these limited resources. If so, when you mention your rates or fees you feel like keeping them as low as possible or even not asking for your payment at all.
The second money block, money guilt, is when you feel unworthy of receiving money, even though when you have earned it with your hard work. Was your mother telling you things like: “eat everything on your plate because there are starving children in the world”? Then probably you feel guilt having money when there others who don’t. This will make you doubt yourself, make you question if you are worth the money people are willing to invest in you and. Your unconscious is probably turning down amazing opportunities, so why allowing this insecurity ruin your chances to succeed?
Lastly, the third block is fear of money. This one sounds funny, right? Who would be afraid of money? In reality, this is not related to money percentage, it is the fear of what money can do to you. Many people have an unconscious belief that making a lot of money will change them, turn them into something they don't like. Do you think that rich people are corrupted? That they generated a fortune by manipulating people? If you don't want to be a corrupted and mean person, then your unconscious mind will translate that as holding you back from becoming wealthy.
These blocks are all within ourselves, and by accepting them and coming to terms with those things we have deep inside us, working on them, can make a great difference. Not only this will help you in your business, but your everyday life. Helping you have a better relationship with money and a better understanding of yourself.
Do you want to explore if you have any money beliefs that hold you back from becoming successful and wealthy in your business? Would you like also to overcome them? Then feel free to book a Discovery Session. This can be a great opportunity for you to champion your business growth journey!
You can also check this article for 3 tips for ... Double - digit sales growth
Your Business Growth Coach,
Sylvia
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