We all think we want to make money. We need it. We want it. But oftentimes, we put up roadblocks to keep it from arriving. I've done it and I bet you've done it, too. Well, guess what, friend? It's time to make some real cheddar.
Our money mindset is something that we've grown up with, sometimes inherited from our parents. I personally came from a middle-class family. We had a budget and lived within our means. I paid my own way through college by working retail. One day, my boss told me, "You have the lowest sales of the whole team. Either you get them up, or we'll have to let you go." I protested, telling her that I was doing my best. And she then said something that I'll never forget. She said, "You need to stop spending other people's money. You always sell them cheaper products, because that's what you can afford. You have no idea what's going on in their bank account." She was right.
I often see freelancers who I mentor spend other people's money, with comments like, "They'll never be able to afford that!". How do you know what they'll be able to afford, or what they'll put their energy into affording? Don't price your services based on what you think they can afford, because oftentimes, it's probably based on your own money mindset.
Billing for time is an endless debate in freelancing. Should I charge by the hour or project? If by project, do I base the cost on the amount of time spent?
When I was just getting started, I came across the book Breaking the Time Barrier by Mike McDerment and Donald Cowper of Freshbooks. In the book, they break down the value of services based on impact. If, for example, you are building a website that will generate $100,000 for a client, wouldn't it make sense for a client to pay you $20,000 to develop the website? Wouldn't you invest $20,000 to make an impact of $100,000 on your business? Start thinking about the value you bring to the client rather than the time you spend - and you'll both win.
When speaking to one of my own mentors about money, she asked why I was so hesitant about making more. I said, "Well, the tax man will only take it!". She shook her head and said, "What will the tax man take? 20%? 30%? That will leave you with 70%! What's wrong with that?" She had me stumped.
Often times, we worry about what more money will bring us. Taxes to pay, more responsibilities, or even that we'll become a rich, heartless douche. But in reality, only good things can come of making more money. Now, that's not to say that money will buy happiness, but it definitely can't hurt. Don't fear the money, embrace it.
What is your reason for resisting making money as a freelancer? It's time to identify it and disarm it.
Now that we've identified our resistance, it's time to overcome it. Just know, changes to long-term mindset can take time to change. Be patient with yourself. Here are some ways you can start working towards overcoming your resistance to making money as a freelancer:
As discussed above, consider how your service impacts your client instead of how much time you spend on a project. Once you start basing your services on your impact for that business, your money mindset will change along with it. Not only will you make more money, you'll gain better referrals and clients.
Know that you have an incredible, impactful gift and it's worth real money.
The truth is, nobody likes to part with money - and you don't have to feel guilty about that. Often times, especially for new freelancers, there's guilt associated with taking money from clients. Clients will sometimes try to skirt around the subject of money. Here are some examples of how to set boundaries for you and your clients:
You may or may not be a believer in The Law of Attraction, but I am. I believe that when we focus on the bad, bad things will come. If we focus on abundance...guess what? Abundance will come. And don't think you can cheat the Universe. It feels what you feel. So, you have to really feel it. If you want to make more money, imagine what that feels like when you've reached your goal. Does it mean owning a luxury car? If so, pretend you're driving it. Does it mean waking up in your dream house? If so, wake up with that feeling every day. What you believe, you can achieve.
I've always struggled with my own money mindset in my business, but it's something that I work on every day. As a freelancer, I started by making $8/hour to making 6-figures per year. It's been a process, but I've worked through it. I've taken professional advice and now work with an accountant to help me to set goals and forecast for the future.
Making money as a freelancer is a gift - and many people around the world only dream of doing it. Take full advantage and live your most abundant life.
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