“money blocks” is such a recurring theme amongst entrepreneurs, and I would say especially female entrepreneurs. We still don’t feel fully worthy of making money and are comfortable with high levels of income. I guess for far too long we have been conditioned to believe that men make money, and it has left some subconscious imprint! Changing, after years of that kind of mentality takes time.
You might have already experienced how uncomfortable charging money makes you feel and if not the idea of it just seems too strange. The questions pop up in your mind:
Do I deserve this?
Will anyone buy it?
Am I even good enough?
This is the kind of mentality we want to change because these kinds of money blocks could well be sabotaging your business’s success.
This post will be your ultimate guide to overcoming money blocks – helping you understand your money blocks, identifying your money blocks, and giving you the tools to overcome them.
I want you to start believing that you are in some way making a difference in someone’s life with your business one way or another. That should be deserving of a hefty price tag!
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What are money blocks?
A money block is “anything that holds you back from making the money you want.” It might be subconscious or conscious but either way, it’s there. So, it is worthwhile exploring it and trying to overcome it.
By not addressing any existing money blocks you may be sabotaging your business success.
Why? You attract what you focus on. If you do not feel worthy of the $$$ you would like, then it will be difficult for you to bring it into your reality. If you do not feel worthy of the cash flow, then you will likely undercharge, compromise on the price, and bring in less money. You will not be bringing in your true target audience.
How do you know if you have money blocks?
If you are an entrepreneur – you probably have some sort of money block. I think most people do.
Also, as you grow your business, new money blocks will continue to crop up. Every time you hit a new level in your business, you’re going to see the same freaking money block crop up unless you deal with them.
3-step process to apply when overcoming money blocks:
Step 1: Identify the Block
When it comes to money blocks – self-awareness is gold! Without it, you cannot begin healing and taking the necessary action to work through them.
Step 2: Do the Inner Work
- Uncover the origin story i.e., where do your money beliefs come from?
- Tear down your old beliefs and break the pattern.
- Find contradicting evidence for any money block.
- Formulate a new belief and start adapting it in your everyday life.
Step 3: Take Action
- Practice visualization and make vision boards.
- Have money affirmations that you repeat regularly.
These two tactics are a great way to start feeling more comfortable about the cash flow you want.
Are these money blocks secretly sabotaging your business success?
Money Block #1: Making money is too hard.
If you spend your life always working for someone else, then yes making the amount of money you want in your life might be difficult. Someone always has control and dictates the upper limit of your earning potential. Making the kind of money you want is hard.
As an entrepreneur – the only limit is your own. Yes, getting a business off the ground takes time and effort in the initial stages. But after this initial period, you can go flying because the income you can make is infinite. There is always a way to scale things up.
Money Block #2: Believing you can’t help people and make money
“I just want to help people. I don’t care about money.”
I used to say this to myself all the time because of my money blocks. I felt like I had to be modest and put other people and their needs before my own. I realized how damaging this kind of thinking is and how limiting it is, because ultimately anytime money started coming in, I felt guilty.
If you have ever experienced this that you might recognize this. But remember that helping others and making money are not mutually exclusive.
To help others you have to be in your element, living your best life and feeling content – money does play a role in that. There are few things more stressful than money scarcity.
So start believing that making the money you want and living a lifestyle you dream of is vital to your happiness and allows you to show up for others.
Change the narrative to:
“I want to help people while bringing in the cash flow I dream of”
Money Block #3: Being afraid of the visibility that comes with that kind of money success.
Making more money most likely means you are doing something right in your business because guess what – is it growing?
The side effect of a growing business means there are now more eyes on you.
No pressure!
That kind of success comes with a certain exposure. Which can be absolutely overwhelming and scary. So, if that’s how you are feeling at the thought of it then just know that is an absolutely normal thing to feel.
But it should not be stopping you from ever going after what you want.
Remember that in your mind right now you are going from A to Z. But in reality, there are many stepping stones along the way. The journey will go A – B – C – D-…Z. You get the point.
These steps are incremental and each one will slowly prepare you for the next and eventually for the end money goal you currently have in mind. When you reach the end, you will be ready!
So just keep stepping forward and the rest will take care of itself.
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Money Block #4: Thinking you have to reach a certain level to take more action.
Here I am introducing the topic of quantum leaps.
So often I see people mentally putting blocks on things that could skyrocket their success. They worry about joining the mastermind because other people in it are steps ahead. They don’t invest in the training because they don’t truly believe they can reach their dream. They worry about spending money on their business because after all it might not work out and that would be a waste of time.
I am not going to sugar coat it in any way – but that is the LOSER MINDSET.
You cannot afford that!
If you want to see quantum leaps in your success you have to take quantum action.
Money Block #5: Not feeling confident about the value of your service.
This is such a common money block in business because ultimately it leads you to put down the price.
If you are solving someone’s problem, no matter how small or big, believe me, that to the person buying from you – it is worth the money.
Stop with any comparison to what others are doing. Other people’s business is completely different to yours. Apple has its fans and Android has its fans. They offer the same category of service and each one is providing value to the right target customer.
Money Block #6: Not believing people will pay the amount you charge.
The right customer will pay the price – trust me. If you hit that trigger spot in your customer and what you are offering speaks to trigger a need in them, they will do anything to be able to grab it.
Your customers are out there and the right ones will value your product or service and will be willing to pay anything just to get their hands on it.
Never price down because of fear of not attracting any customers. Keep the price right and attract the right customers.
Even if it takes that bit longer to find them, they will be your raving fans, and repeat customers who are willing to continually invest in what you have to offer.
In the end this will bring you far far more cash flow.
Money Block #7: Not feeling like you deserve the kind of financial success you want.
This is a big one.
Especially for those of us who spent our childhood or most of our adult life not ever having experienced the higher ends of money flows – feeling deserving of it can be a huge mental obstacle.
You just cannot imagine it; it does not feel real to you.
Maybe there are feelings of guilt over what your friends or family would think or feel.
These are all money-sabotaging thinking patterns that gotta be destroyed before you can call in those 5 or 6 figure months and beyond.
Everyone in the world is deserving of having the financial stability they want. It might differ from one person to the next, but everyone does.
And you do too.
You are achieving your money goals through hard work, perseverance, dedication, and courage, and will not get in the way of anyone else’s success. So just remember that start feeling worthy and start celebrating your financial successes.
Money Block #8: Believing that having a lot of money makes you a bad person.
This narrative is a huge misconception that is still floating around and it can be very damaging.
I don’t think money makes you bad but unfortunately, power can for certain people. And often those who have lots of money also hold a lot of power.
What I am trying to get across here is that having lots of money does not have to change your core values and your morale. There are many people with lots of money that also do a great deal of good with it. Unfortunately, they are less likely to make the headlines.
You can flip the narrative in your mind to avoid this money block by saying
“The money I make in my business will be the by-product of the problems I am solving, the solution or service I am providing, and the impact I am making in someone’s life.”
You can’t put a price on that.
Money Block #9: Thinking that others will like you more if you have more money/nice things.
If your primary goal to make money is about the external validation, then your business is bound to be doomed.
Of course, there is nothing wrong with wanting to make more money and lots of money to be able to provide the kind of lifestyle you want for yourself and your family. Hey, after all the lack of earning scalability is often a key motivation for us entrepreneurial types to want to leave behind the 9-5 life.
But attaching your worth, especially in the eyes of others, to the income you make will downgrade your success.
Attaching these kinds of emotions and motivation can lead you to make bad decisions in your business. The entrepreneurial journey is a wavy road. There are ups and downs and if your self-esteem is linked to the highs then every low downturn will crush you. This will affect how you are able to show up in your business.
Your revenue is not a reflection of who you are as a person and if you have the right people by your side they will be solely focused on your character and your incredible personality, not the money in your bank.
Money Block #10: Believing that you are only as successful as the amount of money you make.
Naturally, most people measure their entrepreneurial business success by the amount of revenue. It is a great metric because it is easy to quantify and often in direct proportion to your business growth.
However, with that in mind, in some cases focusing on the direct correlation between your revenue and your success can be damaging.
For example, in the first two years of your business, your revenue might be low although behind the scenes you are growing exponentially and setting up an avenue that will lead to eventual revenue.
Or there may in general be times when you must shift your focus elsewhere in order to establish thing that will allow you to scale.
Other times, there will be dry spells, it’s a guarantee. Attaching all the significance to the amount of money coming in can make you feel like you are doing something wrong when in fact there are factors beyond your control.
Therefore, although high revenue is great and lovely and we are all for it, there are other metrics of success that are equally vital.
On a Final Note.
Do not let these money blocks sabotage your business success and money flows. You are a hard-working badass Boss Babe after all, who worked her butt off to achieve this level of success and revenue. Own it and embrace it.