Please don’t throw tomatoes.
I confess that I like to make a profit.
I confess that I empower others to achieve their dreams.
Making a profit and helping others do not need to be mutually exclusive goals. In fact, as often stated in the Law of Attraction, being successful brings success to those around you.
As a profit coach who seeks out creative, artistic and yes quirky clients, I often find the same mental barriers to success. I shouldn’t make profits a priority. I’m not worth that much money. I feel guilty about charging so much.
Let me show you why each of these statements are not only false, they can have a negative effect on those around you.
Notice I’m not saying profits are THE priority. Profits are only one of many priorities. You need food, shelter, clothes and so forth. If you have kids (the two legged or four legged kind), you also need to provide for them. If you have no income, how can you do that?
When a friend, who is also a business associate, provides goods or services to you, you pay them. They have worked hard to give you something of value, earning a fair wage in return. By doing this you also reinforce their sense of self-worth (more on this in Myth # 2).
Why then wouldn’t you also expect to earn a fair profit for your work? In fact by not allowing them to offer you payment in return you’re undermining them. You’re telling them that either what you offer is worthless, or that they aren’t capable of buying it.
Yes. You. Are.
Every person on this planet is priceless and unique. Your skills and abilities offer the perfect solution or service to your target market. Not everyone can or will be your market. However you are priceless for those who need exactly what you offer. Especially since no one else can offer what you do because they aren’t you.
How you view your own value also affects those around you. If your tribe is constantly hearing that you offer nothing of value (when they can see you DO), self-doubt creeps in. “Hey if Mr or Ms. Success over here feels like they’re overpriced I’m the $750 T-Shirt at Nordstroms.” Spread self-confidence, not self-doubt.
At a minimum you must charge enough to provide for yourself and your dependents. If those fees make you feel guilty remember that you have a responsibility to others. When you have a child or adopt a pet you are assuming that responsibility.
There is nothing wrong with charging the going market rate, or a rate that would give you a certain lifestyle. You aren’t the mob extorting so-called protection payments. You aren’t giving clients “an offer they can’t refuse”. If it helps, commit a certain percentage or dollar amount of your income to a charity. With my new book, How to be a Finance Rock Star, I’ve committed to donate $1 to Kiva.org for every book sold. I’m sharing my abundance.
As with Myths 1 & 2, this action has a ripple effect. If you express guilt, others wonder about their prices. Our peers can either lift us up or drag us down. By devaluing our own worth we actually devalue the worth of everyone in our circle.
Embrace making a profit ethically, legally and morally. Pay others their worth. Share your abundance with the charity of your choice.
Nicole Fende is The Numbers Whisperer™ and President of Small Business Finance Forum. As a credentialed actuary with experience as a former Chief Financial Officer, Investment Banker, and successful entrepreneur, Fende helps her clients reach their profit goals and learn how to effectively and enjoyably run the financial side of their business. In her book, How to be a Finance Rock Star, Nicole shares the same strategies she uses for her profit coaching clients to help them reach multi-platinum profits. You can pre-order it now on Amazon.com.
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