How Do I Make More Money
It’s Day 2 of the Do Business Your Way email series and today we are answering the question:
How do I make more money in my business?
If you have a business (and not a hobby) then you need to be making money. In order to make money, you need to spend money. This adage is true.
But what if you’re running strategies, making some small investments into your business and still not increasing your revenue?
Today I’m going to share a few ground-breaking tips that will lead to you making more money. Once again, they may seem unconventional, but they’re what has made the biggest impact in my life so far.
But first, a story…
Two years into running my business, money was coming in. I was making enough to pay myself a little something and cover my expenses but it felt like I was continually hitting a ceiling.
I was ready to increase my profit, my visibility and the money in my bank account.
So, during a New Years intention party, I declared it was going to be the year I MADE MORE MONEY THAN EVER BEFORE! (We had to yell our intentions out into the Universe, cause I guess it made it more powerful.)
Then, something unbelievable happened. And not in a good way!
Two weeks after that declaration, an emergency trip to the dentist revealed I had a cracked tooth that needed pulling. The pull, an implant and a new crown would run me $5000! (NYC dental prices are no joke!)
You’ll never guess what happened next.
I’m headed to get my tooth pulled the following week when a second tooth on the opposite side cracked! Same thing. A pull, an implant, a crown and $5000 more! I couldn’t believe it! It’s three weeks into the new year, the year that I’M GONNA MORE MONEY THAN EVER BEFORE, and I’m down $10,000. $10,000 I definitely didn’t have!
Was the Universe being cruel? Did it not hear my very loud declaration a few short weeks ago? It was the ultimate WTF.
Or maybe, it was the ultimate opportunity.
Later that day, I sat in my studio and cried. And then, I decided to figure this out.
I opened my journal, lit a candle and got to work. I felt the Universe was trying to get me to shift my relationship to how hard I have to work to make money, how comfortable I was spending it and how much I would allow into my life.
I knew it was time for an upgrade.
Today, I want to walk you through one of the most important processes I went through to increase the amount of money I could make.
Before we dive in here’s something to consider:
We all have beliefs around money that either support our ability to receive and spend it with ease (responsibly of course.) Or we have beliefs that leave us feeling super stressed, frantic, fearful or guilty when it comes to money. (You may have other negative feelings when it comes to money, those are just a few.)
If you feel like you never have enough, you dread looking at your bank accounts, or are uncomfortable with other people having money, it’s a sign you have some money blocks.
Your most important work to attract more money is clearing any negative beliefs or blocks you have around money so you can feel good in the spending, having and receiving of money. This will allow more of it to flow into your life.
This is one of the most powerful journaling exercises I have done. And the beautiful part is that you can do this for your beliefs around money, as well as other negative beliefs you have.
Let’s get started:
1. Write down several negative beliefs you have around money. After you’ve made a list choose one to work with. You can go back and work on the others.
Example: Making more money will be really hard and require a lot of extra work
2. Then ask yourself: Can I know 100% that this belief is true?
Example: No, I can’t know 100% that making more money will be really hard and require extra work. Sometimes making more money requires extra work. But look at all those people out there who make money with such ease. It seems like some people are just magnets for money. So maybe it’s not 100% true that making money is hard. (We ask this 100%, because sometimes we get very stuck in our ways, when we forget the Universe is infinite and has lots of possibilities.)
Think of how silly it is to act based on a belief that you don’t even know to be true!
3. Now, imagine that this old belief is a coat. Put on this coat and pretend you’re walking around your home with it on. Close your eyes, and see yourself walking into the kitchen, into the bathroom, into the bedroom, and then outside. Imagine that you’re wearing this coat when you’re out with friends or spending time with loved ones. The truth is that you are wearing this coat when you’re doing all of these activities.
Write down how this coat makes you feel. Does it make you feel sad and depressed?
Example: When I wear the coat of making money is hard, I feel terrible. It makes me feel like I don’t even want to try. It’s awful!
4. Next, think about how you act in the world when you feel like this. Write down what you do as a result of this coat you wear.
Example: When I believe money is hard to make, I waste time scrolling on social media because I procrastinate on my business. I don’t even put myself out there. I binge on Netflix and isolate myself.
5. Take your limiting belief, and turn it on its head. This is a new mantra for you. It doesn’t matter if you don’t believe it right away.
Example: Making money is easy and it flows to me with little effort.
6. Now, try on the coat of your new belief, and imagine walking around wearing this one. How does it make you feel to wear this coat in your home and around other people?
Example: Wearing the coat of money making ease, I feel like I can step into the life I’m supposed to have. I feel more freedom. More lightness and more joy.
7. If you wear this new coat all the time, what do you think you could accomplish?
Example: I could be successful in business. I could make investments into myself because I know I can easily make that money back. And then some! I would feel excited about the work I am doing in the world.
8. Create a mantra for yourself. I recommend: Money loves me and wants to support me, it is safe for me to receive more money than ever before, I am worthy of my desires.
9. Do this exercise for as many money beliefs as you wish!
10. If you find that one of your beliefs causes you to really shake in your shoes, try writing a letter to your inner child, quelling his/her fears. You could write something like, “Little one, I know you’ve been through a lot, and I understand why you believe this about money. But this is your past. You have the ability to change your relationship to money. There are other things that have come easy in your life. This can be another one of them. Know that I love you and will watch over you as we start to take more risks and wear the coat of success.”
After going through this process several times and practicing my new beliefs around money, I began to receive more money consistently, and most importantly, it helped me feel good about spending money, trusting that it can continually flow into my life.
(And hint: While you most definitely need some version of Quickbooks for your business, this has nothing to do with that. It has everything to do with how you feel about money, which ultimately is exactly what will determine your ability to make more of it.)
Changing your relationship to money is something we’re so passionate about inside our 6-month business mentorship program, The Collective: Grow Your Business Your Way. We know this has a HUGE impact on your ability to truly grow a business that can support you in the way you wish.
From a practical standpoint, running a business is a numbers game. It’s not rocket science, but we understand it can be stressful!
From a spiritual standpoint, your relationship with money can be so complex that it can override all the practical work you are doing, so yes, we’ll be working on undoing and upgrading your money beliefs along the way.
If you know you need to change your money mindset in order to grow your business, then I want to invite you to apply for The Collective.
Just by applying you’ll get a 1:1 strategy call with Shonda and I where we’ll be able to give you personalized strategy and help you identify your mindset blocks that are preventing you from receiving.
Applications are closing this Friday.
We’ll be back tomorrow with tip number 3 in our Grow Your Business Your Way Series!
Erin + Shonda