Gill Moakes 0:00
Welcome, welcome to the heads together podcast. Thanks for joining me again this week, we have a lot to get through this week, this is going to be a chunky episode. And it's probably the most important topic that I work with my clients on, ever. And it does seem to be something that all clients have to address at some point. Particularly if you're someone who wants to build a business where you have a high ticket offer, then your money mindset needs to be a robust, because this is such a big and important topic, I've actually created a guide for you to go along with this episode. So I'm gonna put a link to it in the show notes. It's at Gill moakes.com, forward slash fix dash, your dash money dash mindset, doesn't that just roll off the tongue? Hey, see what I've done there. So you might want to hit pause, you might want to download that first and kind of use this as a little bit of a masterclass type episode where you've got your workbook slash guide in front of you, and you're working through it in real time. Okay. And then you can just keep hitting pause as you get to the bit that we're talking about. So if you want to do that, do that. If not, just grab a copy of the guide, and work through it in your own pace afterwards. This is just a huge topic. And to be honest with you, as I was kind of outlining this episode, I really, it got a little bit tough to reel in the amount that I want to go through. So hopefully we don't go too much over my planned amount of time because I don't like how podcast episodes to go to get too rambley. But like I say this is a bloody important topic. And it's one that when you master it when you master your money mindset, and you make different choices in your business, it changes everything. It completely changes everything. So okay, download your guide, and let's dive into the episode. Welcome, welcome to the heads together podcast, I'm Gill Moakes. And I am obsessed with cutting through the noise when it comes to growing your business each week via intimate coaching conversations and inspirational stories. I share what it really takes to get the results you want, in a way that feels right to you. I am all about attracting higher ticket opportunities, building authentic relationships, and creating the abundance or fat version of your dream business. I mean, how many of us have even away creating a light version of what we really want? The thing is, I honestly believe when you're outstanding at what you do, there is no limit to what you can achieve. So are you ready to put our heads together and make it happen? Let's go.
Gill Moakes 3:35
Okay, so let's have a start by just talking a little bit about what money mindset is, right? Because it's a phrase that's bandied about a lot. And I don't think it's always quite clear what we mean when we talk about a money mindset. So what I'm talking about when I talk about your money mindset is it's your unique set of beliefs about money. It's your attitude to money. And it's that attitude to money that drives the decisions you make, about what you earn about how you spend it, about whether you save any money about just generally what you do how you feel about money, right? Without exception, your money mindset has been formed over the years by everything you grew up to believe to be true about money. And we've talked about this in a previous episode. But basically, your money story is it's the limiting beliefs you've inherited. I mean, don't get me wrong, some people have a very healthy money mindset. And if that's you, lucky, brilliant. Good on you. I'm not recording this episode for you though. Right? So I'm assuming that the people listening, you guys have challenges sometimes when it comes to your money mindset. So like I say, your money story that you grew up with those limiting beliefs, you inherited all the stories you've observed and been told about money about wealth, right. And trust me as entrepreneurs, a wonky money mindset is going to hold you back more than anything else. Because it really affects the decisions you make in your business. It affects the risks you're willing to take. And to be honest with you, like the most important thing it affects, it's the way you value yourself, and therefore, how much you charge for your services for your offers. All right. So this addressing on one key money mindset, and looking at uncovering those stories that you grew up with, is so important. The good news is that it doesn't matter how ingrained those beliefs are, it is completely possible to reframe them and create a healthier money mindset. And replacing this kind of scarcity mindset, you know, that story that maybe you grew up with, which was, you know, money is really hard to come by, because that is a story. Money doesn't grow on trees, you've got to put money away for a rainy day, don't take risks, make sure that you are saving every penny you get, but you never know what's around the corner. Those are all money stories. Okay? Those are scarcity, mindset stories, they contribute to a lack mindset. And like I say, it doesn't matter how ingrained they are. You can reframe them. You can replace those scarcity mindset stories with abundance stories, and abundant belief that gives you the perspective to make smart choices. braver decisions in your business. Because here's the thing, quite often, people think that money causes them stress isn't money, money doesn't have the power to do that money is neutral. It's just an it's an energy exchange, right? What causes you stress is your action or inaction around money around making money around the circulation of money in your life? Think about that. Money doesn't have the power to do anything. It's your action, or non action with regard to money. So how exactly because this, again, reframing your money story. That's something again, that we just talk about all the time. And I'm not a massive fan of these very theory or theories that are a little bit fluffy. And you know, because if you're anything like me, you're probably sitting there thinking, well, it's not it's chill. That's all well and good. But how do I actually stop believing something and start believing something else? If I've grown up all my life feeling like there's never enough money to go round? Or that money is really hard to make? And that money flows to other people? Not to me, if I've grown up thinking that how do I actually reframe that and start believing something different? Well, it starts by bringing awareness to the default story that comes up for you about money. Where has it come from? Whose voice is it? You can hear? For me? It's my dad definitely. Is my dad. You know, that story around, you got to put money away for a rainy day. You know, as if, okay, things might be okay now. But you know, you don't know what's around the corner. There was always that when I was growing up. So whose voices it Do you hear? And what do they say? What what is it that you were told growing up? So bring awareness to that, really shine a light on it, and try and be aware when ever those thoughts come up. And then the next step is where you start questioning that money story that you grew up with? And this might be something you've never questioned before. Right? Because we grow up believing what we're told, especially by our parents, but this can be informed by a lot of people when you're growing up, you know, siblings, people around you teachers, is the belief that it keeps coming up for you or the default story. That kid is coming up for you. Is it a truth? Or is it an opinion? And this is really important, just beginning to question it, maybe that's just someone else's opinion that I don't need to take with me anymore. Maybe I get to choose to have a different opinion now, right. And then in terms of actually replacing the limiting beliefs with a more positive kind of abundant version. So for example, for me, I really did grow up with that you have to put money away for a rainy day. And what that meant for me was that I found it really difficult to actually enjoy money. Because if I spent money, I felt guilty. And if I didn't spend money, I felt resentful. Right? So that was a really strong one for me. And I've actually replaced that story. Now, as an entrepreneur, as someone with my own business, the story I replaced it with was, actually, if I make smart decisions, I'm always going to have an abundance of money. For anything that I have to deal with in the future, I don't have to squirrel away all of the money I earn now, because I am always going to make smart decisions, I'm always going to have an abundance of money. It's as simple as that. And that's my belief now. And listen, if you haven't already downloaded that guide, I was talking about the beginning, just make sure you do because in that guy, there are tonnes of examples of limiting beliefs and potential reframes for those beliefs. So you might find that you really identify with some of those, and you can just have a go at at reframing them. All right. And of course, the fourth step is just practising reframing those thoughts over and over. And I think I alluded to this, just now it's about choosing to think differently, we get to choose our thoughts. And then it's about choosing to think differently, every single time, every time one of those limiting beliefs come up, you're going to start recognising it. And you're going to start replacing it with that reframed belief until eventually, because the brain is clever like this, eventually, the brain kicks in and it's like, okay, alright, I give up, I'm gonna go with that as my default now. And that's what we're aiming for. Right? You're not a slave to these beliefs that you grew up with. You can reframe them, replace them, and choose to think differently. So I want to talk a little bit about
Gill Moakes 12:51
how your money mindset really can affect how you feel about your own worth, in your business. About what what is your time worth? What is your skill worth? What are you worth to your clients? Because let me just tell you one thing, that when you have a really healthy money mindset, and you really know your worth, it utterly transforms the kind of clients you attract for a start. If you want to attract higher ticket clients, this is the way to do it. It's to start with yourself, it's to start with your own money mindset. So it totally will transform that it's also going to transform, you know, really knowing your worth is also it will completely change the products and the services you offer. Just having that abundant mindset will really inform the decisions you make about what your clients want or need. Like I say this is a complete, like triggering effect. It's a domino effect found affects each of these things in turn, because as soon as you start looking at the services and products you offer, then a robust money mindset is going to help you charge accordingly. It's completely going to transform the way you charge, the way you price your offers, and the way you feel about what you charge. Yeah, I think knowing your worth is really having the confidence to do things your way. And when it comes to like charging for what you do, sometimes that's going to mean charging more than other people do. If you know you deliver more value, then you are absolutely right to charge more than others in your industry charge. And if what comes up for you then is but I can't charge that no one will pay it you're gonna have to Remember that that is a limiting belief in itself, that you're going to need to start reframing. The only thing that caps how much you can charge is the value you deliver. So like I say, if you know that you deliver more value than others do, you can charge more than they do. But here's the thing, it's also about having that confidence to give away scholarships, or it may even work for free, if you feel drawn to do that. Because really knowing your worth, it's about not needing validation, or instruction from anyone else on how to charge. It's really about the competence to do things your way. And in a way that feels right for you. Okay, now, I just want to move on and talk a little bit about attracting high ticket clients, because this is something that is so incredibly linked to your own money mindset, and the way you value your worth. The first thing I want to go through is why I tend to work with my clients on attracting higher ticket clients, I help my clients create a business model based on high ticket offers. And there is a lot of reasons for that. First one is a little bit obvious, right? High Ticket equals more money from fewer clients. That's that's kind of blindingly obvious, right. But there are a lot of other reasons that I have a high ticket business model, and why I coach my clients around that. And the biggest one for me is because you can give your higher ticket clients of really bespoke tailored experience, the exact thing that they need for their business or for their life, their diet, whatever it is that you do, whether you're a coach or a consultant, or a designer, you know, whatever you do, if you work, predominantly one to one with high ticket clients, you're going to be meeting their exact needs. And because they've made a significant investment to work with you. They show up like no other clients do. They do the work. And what happens when they do their part to get the results they want. They get transformational results. Right. And again, this is another knock on effect because the clients who get transformational results, those are the clients who give you absolutely priceless case studies, testimonials. And those. I mean, you've heard me say this before, case studies and testimonials are the most valuable marketing asset you'll ever have in your business. So that's pretty compelling, right? Why would you not want that? I think I've talked about this a lot recently, but this kind of stampede away from working one to one. And the advice we get all the time is you know, it's not scalable, you need to leverage or all of that is really from the fact that most people don't feel confident to work one to one. And don't value their worth enough to charge a high ticket price. So just watch out for those smoke and mirrors around this. If you love what you do, if you're especially if you're a coach or consultant or someone who absolutely just adores what they do and working with their clients, why would you not want to work intimately with your clients on a one to one basis. It's so transformational. And to be honest with you, this is, in my experience, honestly, higher ticket clients are so much more of a pleasure to work with. In my business. The only time I've ever had a client experience that wasn't as good as perhaps it could have been is when is before I started really valuing my worth and charging accordingly. Like higher ticket clients, I think are less demanding. And that's because they view working with you as a partnership. They get it they're willing to place their trust in you and your methods to get the results they want. Right. If you're like most of the clients I work with you're probably experiencing a few of the Oh yes, buts. Now, we love a yes, but don't worry. And these are like the year but my audience just won't pay that. Or what about Yes, but I really think I make experienced enough to charge whatever, or the big one at the moment? Yes, but we're in a no economic downturn unstable market, no one's spending any money. Again, these are all stories. They're all stories, you're telling yourself. These aren't facts, they're stories. And actually what these are is this is where you are projecting your own wonky money mindset onto your prospective clients. Because I want you to really understand something here, right? The clients who truly need what you offer will pay to get the results. And if you are the one that can deliver those exact results, then you can charge a premium price. I don't want you to think that I'm saying anyone can stick any price tag on any offer, and make a shit tonne of money. That is not what I'm saying at all. What I'm saying is, if you are outstanding at what you do, if you truly deliver the results, you promise, and if those results are the exact things your potential clients want, then you can charge a premium price for that. But there is that caveat of you have to be outstandingly good at what you do. There's, that's a non negotiable. So there are a few things I just want to go over. In terms of some of the slight mindset set shifts you're going to need to make if you want to stop playing small, particularly when it comes to working with higher ticket clients. And the mindsets that keep you playing small. There's three predominant ones, actually, the first one is that you still think you're selling your time. And the truth is clients don't pay for your time, right? They are paying for your years of experience. They're paying for your expertise and skill. They're paying for everything you've learned over the years, they're definitely paying for the mistakes you've made that they can now avoid. They're absolutely paying for the translation of something complex into something a lot more simple. And sometimes they're paying to reclaim their own time. So depending on what your offer is, or your service is, it doesn't matter, you know, they're not paying for your time, they're paying for the results. And they're paying for everything that you have done over the years to get to the place where you are the one that can deliver those results to them. So that's a biggie. The next one is, oh, my goodness, this will keep you playing small, for sure. And that is if you deep down, believe your offer is too expensive. So if you let your own money mindset creep in here, and you start projecting that onto your prospective clients, if you get nervous about stating your price, your clients feel it, they can pick up on it, you know, honestly, trust me here, it will be obvious. But conversely, like when you're really clear and confident about your pricing, when you state your price with nothing but complete confidence that you're worth every penny, then they pick up on that energy too. And they'll respond to that energy. So the, I guess the secret is getting really radically comfortable with your price, and then being sure to deliver the results that justify it. Okay. And then the third thing that keeps you playing small, again, big, big, big one here, this was me for a while, when I was bootstrapping my business into existence, this was me, you will stay playing small all the time that you are not willing to personally invest in your business. Right? So if you're trying to charge a high ticket price, if you're trying to charge at a level that you're simply not willing to invest that yourself, that's gonna keep you playing small, right? This is about that light version. So if you're trying to cobble together this light version of the life and the business you really want, that's got to stop. Everything changes when you start investing at the level you want to sell. That will be a game changer for you. I promise you. That is exactly what I did. That's the path I took. And as soon as I mastered this money mindset and all of these things I'm talking about today are all All, so part of the same story, right? It all comes together to build a much healthier, much more robust money mindset for you when it comes to running your business. So I also now want to just touch on and this is something we talked about, I think in a previous episode, definitely. And I can link to that. So you know, this might sound like a bit of repetition in terms of what you're hearing here. But I really want you to hear this, again, in the context of your money mindset. And that is the danger of under charging for what you do. Because that has a lot of implications. And some of them aren't always obvious to you. So I just really want to run through this. First thing, actually, before we do the first thing, I do want to just remember that, again, no one's actually motivated to pay for your programme or your product or your service, that's, you know, they're not paying for that, right, you do need to keep remembering that their only motivation is to either solve their problem, or get themselves something that they desperately want. Okay, so the question to ask yourself is, is this programme? Or course or service, whatever it is price too high? The question to ask is actually, what is it worth to my clients to solve that problem? Because that's going to help you reframe, and help you to kind of write your own money mindset when it comes to competently pricing. All right. And there's a lot of dangers that come from underpricing your offers.
Gill Moakes 26:52
When you under charge for what you do, you run a massive risk of affecting the perception of the value of what you do. So in other words, you can be outstandingly good at delivering results for your clients. But if you under charge, then clients who are seeking those transformational results, they could potentially just dismiss you out of hand, because they're going to assume that you don't get it, they're going to assume that what you do doesn't address the gravity of their problem. Okay, does that make sense, you've got to be very clear. And you've got to price according to the value, the true value of what it is you're offering, because otherwise people will deselect themselves as potential clients for you. The other thing is that, and we've touched on this a bit earlier, actually, which was when clients invest in themselves, they show up, they're the ones who do the work. They're the ones who get the results. They're the ones who give you the amazing testimonials. And the danger is that if you start attracting clients who are not willing to invest, so in other words, if you under charge for what you do, and when you under charge, you absolutely attract the wrong clients, then they're rarely going to show up and do the work, they're rarely going to get the results they want. And that can be quite damaging. When I say quite, I mean very damaging to your reputation. Think about online courses, right? For a minute, how many courses have you got sat in a dusty old inbox somewhere, or a folder email folder somewhere of login details of very cheap, maybe it's one of those little upsell courses or something that you've come across? But I know $19 In a how much effort did you put into logging in and doing the work and really getting the results that this fabulous Facebook ad promised you? Probably not a lot, right? Because it's only when you invest that you take it seriously and that you do the work. And when this last one I want to share about the dangers of under charging. I do think sometimes people think I'm being dramatic when I say this, but to me, this one's blindingly obvious. If you consistently under charge for what you do you risk burning out, because you're gonna have to work with more and more clients to hit the income goals that you have. And what happens when you burn out you're cheating future clients out of the help they need that you could give them because your business model is going to be completely unsustainable. Right? It's not so please please please review your pricing go back and I did a episode I'll link to this in the show notes as well earlier which was about how to increase your prices. And if that's something that you know, deep down you need to do, but your money mindset is holding you back from doing it. Okay, and I want you to maybe Think long and hard about what I've been talking about today and download the guide. Like I said, I'm gonna put the link to that in the show notes. Because this guide, it's going to help you take action on what I've been talking about today. This isn't an episode that I want you to just, you know, Mark has played and move on to next week. This is a biggie, this one, your money mindset is the thing that can change everything for you in your business, if you let it if you do the work. Okay. Well, I hope you've enjoyed that it feels like that's been quite an intense episode today. I'm gonna be honest, kind of intentionally. So because I think this is such a bloody important topic. And I think that if you are someone who's committed to serving clients in the best way you can then you owe it to not just yourself, but to those clients as well to sort out your money mindset to charge according to the value you deliver, so that those clients get the best results they possibly can. Because that's what it's all about. Right? That's what it should be all about delivering the best value you can to your clients. Okay, well have a bloody fantastic week and I will catch you again next week. Bye for now. Hope you enjoyed this episode, and that getting our heads together this week has filled your mind with what's possible. If you love the show, would you do me a massive favour please? Would you leave a five star rating on Apple podcasts? It would really help you put more heads together, reach more ears and expand more minds. Until next week. Bye for now.
Transcribed by https://otter.ai
