Times are tough, and most people were not financially prepared for the first pandemic and quarantine of this century. Many small businesses were deemed “nonessential” and forced to close, causing many to go out of business.
As a small business owner who works with other small businesses and creative entrepreneurs, my business was hit hard. I had already taken time to nurture myself more while pregnant. Coming back to work in my second trimester facing the complete chaos and utter panic of society required some time to come up with a new strategy.
I’ve always tried to make my business as inclusive as possible. I’ve built my businesses from the dirt up, and it’s really hard to find ways to get around the financial burdens of scaling your business in the beginning.
Many of my clients tend to seek help around the 2-3 year mark. They get frustrated from trying so hard to do everything themselves. They can’t figure out why all the free information online hasn’t helped them turn their business into the 5-6 figure dream career they’ve been promised.
I’m not here to promise you $5k months or 6-figure launches. But, I will assure you, that it is 100% possible to sustainably double your business every year if you keep track of your numbers, look for patterns and continue to step outside of your comfort zone to create a business that’s aligned with your goals. You also have to commit to a lifestyle you feel good about when you hang up the hats you wear as a business owner each day.
Pricing and self-worth dramatically impact your bottom line. One of the first thing I recommend to most of my clients is to re-evaluate their prices. As creatives, there’s so much stigma around “selling out” if you’re making money from your creative work. You don’t have to wait to die to become famous. That doesn’t really happen anyway. The key is redefining what success means to you. For many it means time to have a life + a business without sacrificing one for the other.
Self-worth is learned.
There are voices from your past constantly trying to keep you small + stuck. There are fears surrounding your potential success that might cause others to feel uncomfortable.
You’re probably sorting through shame, doubt and insecurity every time you put a price on your offerings. It still happens to me sometimes, but the best way to combat those feelings is to face them head on and feel the reassurance and gratitude for your supporters when someone actually pays you what you deserve.
I always worried about offering pay-what-you-can prices because I thought people would take advantage of it and undervalue my work. It’s not common practice to price most things this way, so people get a bit confused. So let’s look at some examples to help you figure out how much you should be paying for your strategy session. Buckle up, folks! We’re gonna do a little math 😬😬😬
My Strategy Sessions are sold for an hour of my time, but in reality, it’s about 3 hours of work between prepping before, connecting + sharing during, and following up with notes afterwards. Think about your own hourly wage. How much do you get paid now for 3 hours of your time? That’s how much you can consider paying for your session.
Some people don’t calculate their time with an hourly rate. This might be hurting your bottom line, but it’s your call, Boss! For those people, you might consider an equal exchange. Say it takes you 3 hours to create your art. You charge $200 for it. When you book a session, you’re trading your time that could be spent making you $200 for an opportunity to learn how to scale and increase your business. That’s how much you can consider paying for your session. It’s like bartering.
For the more magical Boss Witch manifesting types, think about this investment as an energy exchange, because that’s honestly exactly what it is! We believe what you send out comes back amplified. So, if you’d like to manifest $150, consider paying $50 for your session. The minimum common return is 3x or the Power of 3. I don’t limit myself to this unofficial “rule” of witchcraft, but it’s an easy example.
I like to think of where my money will be invested once it returns and let that energy align to make it happen. I’m currently trying to decorate the nursery for my son, put a new roof on my house and replace my 14 year old car. I’m steadily working towards manifesting at least $25k this year to put towards those investments in the safety, security and sustainability of my family and our sacred space.
This goal feels huge when I think about trying to pay for an $18k roof with $25 strategy sessions. I’d spend 2,160 hours on 720 sessions to accomplish my goal and that’s not factoring in expenses like internet service, website hosting, PayPal fees, income taxes, and other basic expenses involved. Even though $100 sessions require 540 hours for 180 sessions, it seems less daunting to get a range.
Creating a diverse offering with various products + services will help accomplish this goal. I’m also in the process of selling a house my father owned before he died. I’ll get a portion of that money once it’s sold.
I’m on a timeline before going on maternity leave so for me personally, I don’t have room in my schedule for 180 strategy sessions before the baby arrives. To help me accomplish my goals before my due date, I had to figure out a plan to accomplish 6 months of work in half the time.
By offering prices that can accommodate more than just business owners who can afford $250/hour strategy sessions, I actually increased how many people I can help with their small businesses. My definition of success consists of helping the most people build + grow sustainable businesses no matter what stage they’re at on their journey. I believe in my clients, and as their businesses grow they will be in a position to pay-what-they-can according to their results from our energy exchange.
The return on your investment should influence your decisions when you’re deciding how to spend your hard-earned money. But honestly, when you’re confident and aligned with how you make + spend money, it won’t usually feel that hard to earn it.
Energy flows where your intentions go.
When you’re deciding how much to invest in a strategy session, the biggest factor involved should be—how will this return to me amplified so I can accomplish more of my goals in the future?
Money is a big deal for many people, especially when you feel like there’s not much of it. I challenge you to shift your focus from how much money you have to how much energy you have to transform everything you do have into something that improves your daily life.
You’ve been acquiring tools, knowledge, connections and experiences since birth. In some ways you’ve been working towards this goal your whole life. Take a few steps back, clean up your surroundings and give what no longer fits into your dreams for the future.
If you’re still unsure how to determine how much you should invest in a Pay-What-You-Can Strategy Session with me, feel free to send me a quick email with some details about your current situation. Be prepared to take a look at your business numbers and your financial records! You can’t make decisions without knowing where you stand in your business and your life.
I made these worksheets to help my clients set goals and figure out how to double their businesses sustainably. Fill out the form to instantly receive a copy in your inbox. Please let me know if you have any questions or feedback about these worksheets or this post. Leave it in the comments below, or email me!
I hope you have a magical day, and I look forward to working with you soon!