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Louise helped us focus our computer consulting business and develop clear goals. As a result, our revenues increased 30% last year. Her guidance and support is a huge factor in our success and sanity! I would recommend her to consultants and professionals who want increased profits and peace of mind.
Inspiration for You and Your Business
Raising Your “Money Thermometer”
Just how comfortable are you with money and success? Really? Then why aren't we all millionaires, no- make that billionaires? There is a theory out there that we all have a money thermometer; a level at which we feel comfortable earning and asking for our services; and when we start dealing with numbers higher than our comfort zone, we begin to feel a little uneasy. Go too high, and our "thermometer" breaks.
Most of us are totally unconscious of this mental block because we can see the success we want, we can taste it, but for some reason we fall short over and over again.
So exactly what is going on here?
There is a two part answer. The first part has to do believing we are worth what we are asking clients to pay and the second part is ignorance of what our intellectual property and service is really worth.
Let's look at the first part. Most of us with this issue were raised to not be greedy, to put others first, to value people over profit and not take advantage of others for money. These are all admirable traits and I am not saying you need to abandon any of them. The problem is that we were taught and understood these principles as a child and didn't grow in our understanding of these concepts in a way that allows us to put our business first, so we can prosper.
The second part is simply not understanding what our service is really worth. We haven't checked out our competition and asked our clients what the value of our service was to them. As a result, we continually give away too much and undercharge for what we do sell.
Here are some actions you can take to get more comfortable with asking for what you are worth and raising that number.
1. Invest in yourself: Take classes that enhance you and your well-being. Practice excellent self care in regards to mental, emotional, physical and spiritual well being. This enhances our view of ourselves as worth being cared for and invested in. If we don't invest in ourselves, how can we expect others to do the same?
2. Check out your competitors: What are they charging for the same services you provide? Raise your prices if yours are lower. People are willing to pay for value.
3. Believe in yourself and the value you bring: Take an inventory of what your clients have gained by using your services. Write it down and keep it where you can see it when you feel tempted to lower your price, or give away extra time.
Raising our money thermometer is an exercise in raising awareness and raising our belief in ourselves and what we have chosen to do in the world. The world will value you more as you continue to value yourself.