Our attitudes and beliefs about money are often based on fear and inaccurate assumptions, which “cost” us both financially and emotionally. And the longer we stay stuck in our mistaken and anxious money notions, the higher the price we pay.
Not sure if you have money issues standing in your way? Ask yourself:
Is there anyone you haven’t sent a timely bill to?
Are you avoiding raising your fees because you aren’t sure how to explain them to your clients or patients?
Do members of your team stumble when they need to ask for retainers or recommend high-priced treatments or services?
Are you comfortable having salary conversations with team members?
Here are a couple of quick thoughts that my clients have found useful.
If you raise your fees or suggest high value/high priced services in an effective way, the odds are clients aren’t going to think what you assume they will. People I have worked with on fee and money issues have reported predicting that their clients would probably be thinking:
“Who does she think she is charging this much money. She wouldn’t be worth it.”
“That service wouldn’t be worth that much, no matter how good it was.”
Instead their clients eventually report that they actually thought:
“I would probably find a lot of value in talking with her.”
“That seems like a fair fee for the service. It’s a relief to find someone to help me move this forward.”
“That’s a lot of money, but I need to figure a way to manage it.”
Another quick way to check your personal degree of money comfort is to list some current “asks” or money conversations you want or need to have. Do you generally create a positive assumption, or a scenario where you’re rejected or rebuffed? Chances are that if you start with a negative assumption, your fears or avoidance are costing you money. You may be avoiding important conversations or communicating a lack of confidence. Either can be stopping you or your team members from dealing effectively with money issues.
Creating a new way to approach fee and money conversations can be as simple as taking a quick look at your negative tendencies around money and then creating new scripts that you can use to ease into more powerful money dialogues. We have seen clients try out new assumptions and suddenly find comfort talking about money and charging more reasonable fees.
Success is measured in many ways, but earning less than you’re really worth isn’t one. Don’t allow discomfort or old assumptions to stand between you and providing well for your family, your team and yourself.
I used to be dreadful talking with my clients about fees. If I can do it, you can too. Want a good laugh? Ask me about the fee-agreement I used in my first private practice! Want to have your own discomfort a thing of the past? Give me a call.