Make Money Like Magic In your Conscious Business
Positive cash flow in your business is a signifier that you are in alignment —and when you are in alignment, you make money like magic.
Why? Because if your business is solving the right problems, for the right people, and you are doing so in alignment with your soul’s purpose and sacred gifts —then you will thrive at all levels (including the financial level).
And that thriving will feel effortless —like it's magic.
Of course it takes more than a burning desire to help people in a purpose-fueled business.
It takes well-crafted offers, authentic marketing and a profit-centric business model that takes into account your lifestyle desires, your values and your financial well-being.
Let's hover for a moment on the financial well-being part. In business, financial wellness is the result of a profit-centric revenue model. Financial wellness also encompasses the values and desired lifestyle that encouraged you into business in the first place.
Money is a necessity —but we holistic entrepreneurs don't do the work for the money.
Agreed? Good.
Because if you’re like most purpose-driven souls, it's this aspect of loving what you do —but not loving the money — that leads to misalignment at the financial level.
Maybe this expresses in your business a chronic sense of overwhelm —you're doing okay financially, but you never have enough time for you, for your family, for your self-care, for hobbies or for ease.
Maybe this expresses in your business as consistent under-earning —you're charging less than you need to be for your services or products and are living in lack, or debt, or are constantly scrambling to keep up with bills.
Maybe this expresses in your business as inconsistent income or clients —you're on a roller coaster of ups and downs in business where, at times, income and clients are sufficient and other times, not.
Which is why, dearest, you probably have some money wounds that need healing in order to keep your business thriving.
Keeping the money energy flowing in the right way is part of your responsibility as the leader of your business. And that requires deep exploration into the patterns, beliefs and behaviors you as an entrepreneur (with a purpose-driven soul) have around money. The good news?
Once you are aware of the patterns, beliefs and behaviors, you are able to change them. In my coaching practice, I encourage my clients to begin at the beginning: developing laser-sharp clarity on their own financial wellbeing amount, what I call Financial Ease.™
Once you arrive at the amount your business must earn in order to adequately meet your own lifestyle needs and desires, your relationship with money becomes much clearer and you are able to confidently move forward with the actions necessary to meet your financial metrics.
One of my yoga teachers used to share an anecdote in his classes: in order to love something, you must touch it.
In business, the same is true —and how we "touch" something is by giving it our attention. Giving your attention to the pursuit of financial wellness in business is a worthy cause that results in your ability to help more people. (Because your business exists to help people, right? All good businesses do.)
The natural next step in this process is to ask: how do I earn that? Meeting your income goals and remaining in Financial Ease™ is as easy (and as challenging) as setting a clear financial target, doing some mindful reverse-engineering, and committing to the actions necessary to reach those goals.
The practical magic of turning your financial goals into actual, tangible income involves more than desire —it takes action, baby —but once you are clear on how to leverage your skills, reaching your financial goals is easier than you think.
Ready for the practical magic?
1. Identify your Financial Ease™ amount
2. Leverage your skills with a best-fit package, product or course that meets a specific need for a specific person (your perfect fit client)
3. Price your package, product or course to align your service goals and financial goals
Although there is a little bit of math involved, it isn't too much and I promise you’ll enjoy it! Let's look at a tangible example, then complete your own version using the guidelines below:
Example:
Monthly income target: $5000
High value package rate: $1000
Needs: 5 clients / month at $1000 rate
SAMPLE Actions to Take:*
a) Personally invite 10 clients per month into the high value package, product or program (50% conversion rate = 5 new clients at the $1000 level)
b) Run an advertising campaign to reach 500 new leads (at a 1% conversion rate = 5 new clients at the $1000 level)
c) Develop a workshop, webinar or live talk that shares a bit about your high value product, or program and share it 1x / month for 25 people, then follow up with everyone in attendance and invite into larger package (25% conversion rate = 5 new clients at the $1000 level)
*Want some support on these actions and how to effectively use these strategies to support your business? That's exactly what I do.
Apply now for a complimentary 15 minute session —it it's a good fit, I promise to let you know exactly how I can support your business' wellbeing at all levels.
Now it's your turn!
Monthly income target: $XXXX
High value package: $XXX
Needs: # of clients
Actions to take = Actions to take that will result in # of clients needed
Now that you have a clear target, you are better equipped to establish clear weekly and monthly goals for your business efforts to ensure you remain in alignment at all levels.
But what if —like many of my clients —you don't have a high value package yet?
One of the easiest ways to increase your income is to fold the BEST of what you offer into a package or series of services that your dream client needs (and will value). If you are currently focused on selling one-to-one services, consider the clients that keep coming back.
:: What do they enjoy about working with you?
:: What benefits are they gaining from your work together?
:: What else do they need (or want) that you can provide?
Once you answer the above questions, explore folding together everything you offer into one high value package (or service, or program) that a small percentage of your dream clients will say YES to.
If you easily get hung up on the "it's too expensive, no one will purchase it" limiting belief, remember the Pareto principle applies here: 20% of your efforts will provide 80% of your outcomes.
That applies to clientele, too: you only need 20% of your current clientele to say YES in order to make the package / service / product a valuable revenue stream.
Because let's face it: your business needs to earn money. If your business is not earning money, it becomes a costly, time-intensive hobby and a serious energy drain.
Instead: let's turn your business into a magical and meaningful money-making enterprise.
START HERE.
To your success,
Kellie
P.S. Want to take a peek at my own solution-centric package? It's right over here.
Do you understand your numbers?
Do you have your head in the sand when it comes to numbers in your business?
As a healer, helper or coach, it is easy to get caught up in wanting to be of service to your clients, and put financial need on the back burner. But you are running a business not an expensive hobby, so if you’ve been avoiding this aspect of your business, let’s take a small action together now.
Step 1
Status Update (AKA Profit + Loss)
Set up a income and expense tracking process . Wave is a free software which is easy to use, there is also Freshbooks, Xero and many more.
Hire a CPA
Enter in all your transactions for this financial year - you can do them by month if easier, start this month and work backwards.
Work out your current financial position
Step 2
Set Financial Goals
Write down your quarterly, six monthly and year 1 , 2 goals.
How much income do you need and want to receive?
How many hours do you need and want to work to achieve these goals?
By answering these questions you can start to put a plan in place
Step 3
Action: 1, 2, 3
List everything that needs to happen to acheive those gaols. BIG Braindump.
Review your list thoughtfully, then select the top 3 Action-oriented items. These are the three things that must happen to get you on the path toward your goal.
Set a timeline to complete those three tasks
Get support and accountabiilty to maintain that committment.
Once you have worked out what you need to do work out a plan on how to achieve these goals: maybe you need to…
Book more clients each week
Raise your rates
Create a high-value product / package / service
.Launch an online course
Develop a series, training, or certification
Get comfortable with selling
Increase your visibility
Come share your top 3 Action Items with us in the Kula — and get some support, too!
Want to skip right to customized strategy? Head over here.
Money a taboo topic?
Have you been programmed to have a negative mindset towards money? Maybe you grew up in a home where money was a touchy subject and there never was enough. Maybe you have or still are struggling with money in your own personal life, and these experiences are now reflecting on your business.
Fear grows in the dark - avoiding tough conversations about money (or anything really), escalates fear around the topic and results in more stifled feelings and —you guessed it —even more fear. It becomes a much harder, bigger, more scary conversation when it stays in the dark. Shining light on the topic is THE best way to relieve fear so today, right now, let’s shed some light on the conversation - and gently begin to talk about money.
@@ "Let’s start the conversation on money #womeninbusiness @@
I am here to tell you, it is okay to talk about money. It is okay to focus on your finances and it is okay to want to be financially abundant. Beginning the conversation is the hardest part. By starting, we can re-write the scripts that have been playing in your mind and start to take control of your money situation.
What is money on a spiritual level?
Money is a form of energy. Balancing this energy opens up paths to receive it in return. If you are holding this energy (money) tight from a fear of losing it or not having enough, energy blocks form. These blocks then impede the inflow of money.
@@ Money is a form of energy. Clear the energy to open up paths to receive it in return #womeninbusiness @@
Often, money is associated with success so instead of focusing on the word money, shift your focus to what success actually means for you. Once you define “success” for you ,the positive steps to take bring you there become clear.
Where your focus goes energy flows. So here are a few questions to start focusing on “success” on your own terms (financial or otherwise!) :
What are your financial goals for your business?
What are your service goals for your business?
Do you set weekly / monthly / quarterly “success lists”?
How was your week in business?
Did you have productive / successful week? If so, why was it productive?
Was it internal energy or external energy that impacted on your goals?
Actively participate in this inner conversation. When you focus on ways to define success, and to grow your income from that place, you are on the right path.
You also need to remember that people value money very differently, but that doesn’t mean that one person’s value is better than your value. There is no right or wrong way when it comes to money and your goals.
@@ Where your focus goes, energy flows #womeninbusiness @@
By starting the conversation and supporting your friends, peers and family you are helping to empower them. Focus on lifting each other up, this will help you on your own money path.
Start the conversation now, join us in the Kula.
Abundance Issues? Heal Your Money Wounds
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.
Example:
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! xo,
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.