Figure out how many hours you can work in a week or month and then use that to calculate how many clients you can take on or how many products you can create. And don’t forget to include an estimate for non-client tasks and admin work in your numbers too. Knowing this number will help you figure out how to price your services so you’re not working around the clock just to make ends meet.
But raising your prices is a part of being a business owner, so I’m here to help walk you through how to make it happen. The need to increase prices can happen for various reasons, whether due to increased costs, expanding your services, or simply aligning with the value you're providing. Price adjustments are an essential part of running a sustainable business. So, if you haven’t done a price increase in more than 12 months, it’s time to consider it seriously.
Today, I’d like to challenge how you think about self-care, because it’s not all about bubble baths and meditation. Financial self-care can have a huge impact on our mental health.
From personal experience the level of clients you welcome into your business gets higher as your pricing aligns with the value and impact you have on those that you work with! It is so strange, but the number and level of clients I welcomed into my business have really demonstrated this to me!
Once you start understanding your finances, you’ll find that a lot of the fear and anxiety starts to fade (I know it seems too good to be true, but trust me, I see it all the time with my clients). You’ll feel more in control, more empowered, and more prepared to take on the challenges that come your way. And here's the kicker: when you're not subconsciously holding yourself back, you open the door to more opportunities and more income.
A scarcity mindset around money can be like a leaky bucket for your business. When you constantly worry that there’s not enough to go around, you might underprice your services, hesitate to invest in tools or resources that could help you grow, or avoid taking calculated risks that could pay off in the long run. It will also impact sales conversations with potential clients and customers because when you feel scarcity, it brings a different vibe to those conversations and people feel that! And all of this impacts your bottom line.
