Fun Business Fun Money Podcast
EP 025 – 7 Common Money Blocks (and what to do about them!)
We ALL have money blocks in our business that show up in super sneaky ways!
In this coaching episode we dive into 7 money blocks that you may ( or not!) notice in your business, along with some suggestions for what to do about them.
KEY MENTIONS
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TRANSCRIPT
Hey there, and welcome back to the Fun Business Fun Money podcast!
Today is the 21st of March 2023, its a Tuesday, which means its a longer coaching episode. And this one is a DOOZY! I don’t know why I haven’t shared this with you yet, but here it is now!
Its also episode 25! That feels like a significant milestone doesn’t it??
Its funny, my initial goal was to have enough topics for the first 20 episodes, well I’ve not exactly stuck to the list I wrote because other ideas have come up, which means theres a LOT MORE to talk about lol! Not to mention all the other topics I’m going to come up with in the months and years ahead!
We’re going to have a good poke around in one of the most uncomfortable money topics (besides telling a colleague what you get paid and causing an employee rebellion! Thats most definitely an AWKWARD MOMENT!)
We’re talking about MONEY BLOCKS, the phrase used to describe the things getting in the way between you and all the things you actually want that money can help you achieve.
I mean, right there is a hint that its NOT about the money itself, right? Money is simply a tool that helps you do, be or have what you want. Taking the action to bring more money to you? Thats usually where the block is.
Money blocks are rooted in our beliefs, the things we’ve been taught to believe, maybe learned through experience, either our own or someone else’s. We’ve somehow adopted a belief about it and made it our truth.
As we all know, the truth is subjective, therefore what you believe to be true can be changed with a different perspective.
Working on your beliefs is at the heart of making a money breakthrough. If you’re not looking at and questioning what you believe, you’re pretty much guaranteed to stay right where you are in your financial situation now.
As I’m saying this I’m reminded of a ranty post someone shared on Facebook a while back along the lines of how offensive it is to imply someone has money blocks. I could have taken offence to it because I DO talk about money blocks, I’m doing it right now, and its at the core of the work I do.
But it was also pretty obvious what it was really about – her own money blocks were triggered in some way. Its not me, or whoever inspired the post, its you. I’m just shining a light in the dusty corners that people like to ignore and then complain that they’re struggling financially.
What we SHOULD be annoyed about is the fact that money work isn’t a one and done thing, you’ve got to keep working at it, dammit! Our beliefs about money are so deeply rooted, often from things that happened in early childhood.
The whole process of dealing with money blocks is like the layers of an artichoke. You need to keep peeling back the leaves to get to the heart where the good stuff is.
The more you do it the better you get at it, its quicker, more efficient and its repeatable.
I know a lot of people like to talk about onion layers, I can’t stand the smell of raw onion so we’re talking artichokes instead!
The money mindset work I do with clients is a repeatable logical process that helps rewire your neural pathways in your brain so the new beliefs about money stick and override the old ones.
First we uncover whats getting in your way – which is what this episode is about.
Then we take a different angle on it, a fresh perspective so you’re seeing it in a new light.
From there you can decide if the old belief serves you, or if you’d rather embrace a new way of thinking and doing things that actually supports your financial growth.
What I’ve got for you today is a list of SEVEN of the most common money blocks, specific to your business – and what you can do about them.
I want to get on past the obvious stuff and get right to the practical business ones. If one of these money blocks stands out for you, you can then dig a little deeper into WHY this is stopping your financial flow.
An important thing to mention before we dive into the details is what you actually WANT to achieve in life, business, whatever you’re doing.
Most, if not all of us, ultimately want one or more of 4 simple things.
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abundance
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freedom
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success
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wealth
In whatever form that looks for you, it’ll generally fit into one of those 4 categories.
You might think abundance and wealth are the same thing, but you’d be wrong.
Abundance is more general, its health, community, connection, knowledge, its more than enough of what you’re seeking.
Wealth is specific to money and the accumulation of it.
Whats’s stopping you from having more abundance, freedom, success or wealth?
In most cases its one of these 7 common money blocks in your business…
1. INCONSISTENT MONEY MONTHS
Sometimes they can be wildly inconsistent, depending on the type of activity (or lack of!) that you’re doing in the months prior. Consistent activity leads to consistent money coming in, but it also has to be the RIGHT activity, not just busy work.
Regardless of how much you’re making, inconsistency can be a scary problem, not knowing where the next income will come from and how much.
There are a ton of ways you can create more consistent income, most of which aren’t even about the money. Its about the actions you take that feel aligned and move you forward.
2. UNDERCHARGING
This is a BIG ONE and I’m going to do a full episode just on this.
Most women aren’t charging what they’re worth which impacts their ability to show up in an empowered way. Doing your best work becomes incredibly difficult because you’re distracted, worried about money, you know in your heart that you’re selling yourself short.
It can have a crippling effect on your self-esteem and self respect.
That emotional impact is why undercharging is NOT just about the money, but at the same time its ALL about the money. Bit of a weird one!
Dealing with this so you feel great about what you charge isn’t hard at all, its one of my favourite things I work on with clients. There’s a clear shift in energy when someone feels empowered by their pricing, they sit up taller, speak a little louder, with a more confident tone. And thats really appealing!
3. BEING TEFLON WITH MONEY
This is where no matter how much money flows in, most or all of it flows right back out, it doesn’t stick around. There is always an unexpected bill or something that needs the money you just earned.
You want to be VELCRO instead, having money stick rather than slide on out. Be saving money rather than constantly spending it. That requires clear and strong boundaries and standards for you, your loved ones, your clients and your team.
This is a big deal for Nurturer money archetypes, its the biggest shift you can make towards your financial goals.
You’d think clear strong boundaries would get in the way of money flowing but its the opposite.
Show money (and everyone else!) that you’re a confident leader who knows what she wants and doesn’t want, and you become velcro rather than teflon, money sticks around.
4. SALES CONVERSATIONS
This is another one that on the surface its not about money, but its really about money.
This is a money block when you’re not closing sales very often, your conversion rate could and needs to be much higher. You want to feel more confident in sales conversations.
It could be that the whole process is overwhelming and you’re not making the offer.
Or maybe you don’t get payment at the time when they say YES to working with you. Until they’ve actually paid, they’re not a client.
Whatever the variation in your sales conversations might be, you need a clear plan and a level of confidence to smash through this one.
Having your sales conversation process mapped out so you’re following a repeatable process is a massive confidence boost. The more you do something, the better you get at it.
Get comfortable with sales conversations and you blow this money block away like dust.
5. MONEY POWER LEAKS
This one is where awkward money conversations are getting in your way and bringing down your vibe.
Clients owe you money, they’re behind on their payments and you’re having to chase them. It feels like a lot of hard work and its easy to feel resentful that money isn’t easy for you to receive.
Bringing the power back to YOU is essential, you’re the leader in your business AND your life.
I can promise you you’re not going to die if you ask a client to get current with their payments or to set up an alternative plan. And an action that I would suggest for you going forward is to have a clear refund and payment policy in place.
You get to decide how flexible you want to be with it, but having that policy written down and on your website for all to see, benefits you AND your clients.
Just like sales conversations, awkward money conversations get a LOT easier when you’ve got a script written out, you can practice saying it out loud and then go for it.
You deserve to be paid ON TIME for your work! If you want some more help with your money convos make sure you check out last week’s coaching episode, number 23, titled “How to feel more confident talking about money.”
6. CLIENTS NOT RENEWING
You did a great job promoting your offer, you got clients on board, paid, you worked through your process with them… and they want or need more. I actually think this is one of the LEAST talked about parts of working with clients!
If you don’t know how to transition clients to a new package or outline what the next level could look like, thats a huge block to the money flowing in your business.
It may be that you only want that one offer, and thats perfectly fine. It may be down the track that you feel like you’re ready to add something more.
I’ve worked with some AMAZING people and most definitely wasn’t ready to say goodbye when our time came to an end, I would have loved some kind of ‘maintenance’ option to continue working with them.
As you get to the last few sessions you can take a moment to remind them that you’ve got say 2 sessions left and you’d love to continue supporting them in a new container, or arrangement, or program, whatever it might be. This gives them time to consider that next step and continue paying you so its a seamless process.
Its easier to renew your existing clients in a new package, even if its at a different price, than it is to constantly be marketing and searching for new clients.
It doesn’t have to be complicated either, there are a ton of business models out there that you can implement as a support or supplement to the work you’ve already done together.
7. CLIENTS MONEY STUFF
Yes, clients have their own money stuff, we ALL do. That stuff comes up at the most random times and situations, so knowing how to spot it and how to deal with it is crucial to your own money mindset.
That doesn’t mean you have to study money mindset or anything specific, this is about taking a step back from the situation and seeing whats going on without any emotional charge.
Most women have subconscious blocks to making significant income, or to keeping a significant portion of the money they worked so hard to create. They feel like they need to give it and use it to support everyone else.
No matter whats going on externally, its the internal beliefs that are going to rule every time because beliefs have that much power.
You’ll hear it in the objections people have to working with you. Don’t take their money stuff on board, chances are you’re NOT too expensive, or however they happen to phrase it.
Having the confidence to recognise that its their money stuff, not yours, and not take that on board is really powerful.
You can just nod and smile, thank them for their time and move on. You don’t need to spend time and energy trying to convince anyone because you know the value and impact of your work.
So thats the 7 common money blocks you’ll find in your business, let me just recap those for you…
- Inconsistent money months
- Undercharging
- Being Teflon with money
- Sales conversations
- Money power leaks
- Clients not renewing
- Clients money stuff
Hopefully you can see that by stepping back from these and seeing them from a distance, they’re things that are easy to resolve. Some take practice, some need a simple reframe, some need boundaries and some are simply recognising that its not you, its them.
Of course all of this is what I work on with clients in both my coaching programs – IGNITE, my private coaching program, and in Sacred Money Archetypes®, my group program.
If you’d like my help identifying and working on your money blocks, whether its these business ones we’ve talked about today or more general and personal ones, send me a DM – I’m @funbusinessfunmoney on both Facebook and Instagram.
We’ll have a quick chat in Messenger about your current situation and work out the best option for you. Or you can send an email to hello@deirdreamies.com – you’ll find all the links in the description of this episode and in the show notes.
I currently have space for a couple of new private clients in IGNITE beginning in April 2023, and the next LIVE round of Sacred Money Archetypes ALSO begins on 12th April 2023!
You’ll join myself and the other group participants from around the world on live Zoom Q&A calls each week for 9 weeks as we work through the Sacred Money Archetypes program together.
We all have money blocks, whether we like it or not. How you want to deal with them is 100% up to you – ignore them and carry on, or play around with them and release the negative energy around money so you can move forward and be financially AWESOME!
Thats what I’ve got for you today! Ditch the angst and weirdness around money in your business, let those blocks go and start having more fun with it instead.
Take care, most definitely have fun doing whatever you’re doing, and I’ll catch you in the next episode.
Want to know more about the Sacred Money Archetypes group program?
Its a super fun 9 week online course with recorded modules and a workbook to guide your progress. Twice a year I run this as a LIVE group program with Q&A Zoom calls, coaching directly with me. Click here to grab your spot now and get a head start!
