It can be a scary time for business owners in this current climate, and there is a huge amount of information out there telling us that to be a business owner during this pandemic is a dire situation to be in. However, a lot of what we are told is in reference to offline businesses, and online businesses are actually booming! Below I have outlined some phoney pandemic money stories, which can keep online soul-centred businesses from flourishing during this time of change and adaptation.
I work with A LOT of wonderful women, from my peers, to the ladies who are in my mastermind, we have a great community of people who are running online businesses. I can then tell you from experience that people are buying, both me and the ladies I work with have had sell-out launches over this time, and not only that but we have experienced huge growth in our businesses!
Whilst many people may not be working, this does not mean they don’t have money. For example, people on a furlough scheme will still be getting paid their salary; they just now have more time and more expendable income to invest in your products. I sometimes feel as if these are myths made up by early stages entrepreneurs, who feel like they have no money and therefore it must be true for the rest of the population, but a lot of people actually have more money and time then they did before.
Free stuff is part of a sales strategy, so yes people are giving away free things, however, this is to create a successful sales funnel. Freebies can be a great way to introduce people to you and your business and will make people more willing to invest later on. Do not think that because people are giving away freebies that you can no longer charge for your services, but rather think of the freebies as advertisement for your future courses.
This is absolute BS! If what you are selling is a service that changes people’s lives, then to not offer it during this time is actually to do a massive disservice. People need you more now than ever, so let’s not forget how valuable our services are. People need more yoga, therapy, coaching and wellbeing in their life than ever before and they can mostly only access them online.
Selling is serving. I honestly cannot say this loud enough. To make money is to provide someone with a service that will change their life for the better. You are not taking when the energetic exchange is equal to the financial one. I advocate for the motto ‘undercharge and over-deliver’ when it comes to the services you provide, especially the first time someone works with you. That will give them the wow factor and turn them into raving fans, boost referrals to friends, and make you feel like you are giving more than you are receiving. Now that is not to say everything you do is cheap, not at all, but that you really go above and beyond with the service you give at the price point that feels right to your soul-clients.
There are people buying both high and low ticket offers right now. I personally have been selling 1-to-1 spaces throughout the pandemic, and I know other coaches have been doing similarly. Currently, everyone’s financial situations are different and you can’t make giant assumptions about spending patterns based off of such little evidence.
If any of these points resonated with you, and you want to price your offers with pride and let go of limiting beliefs around money, here is my Money Mindset Workbook to help you really up-level your money stories and make the income and impact your desire.