Seattle Community

Business coaching services
Portland, Oregon
Extraordinarily helpful
out of 10
5 votes

Money Mindset

Your mindset overlaps into every area of your business and affects your money decisions and ultimately your business success. Here are some tips to help you shift and change.
Written Sep 28, 2011, read 2920 times since then.


Your mindset has to do with the core attitudes and beliefs that influence your decisions. There are hundreds of decisions you need to make every week. Your attitudes and core beliefs will unconsciously affect how you face these issues. The more you can be aware of what’s going on under the surface, the more power you will have. Money values and beliefs tend to live right at the core.

For example, something that affects all service-based business owners is pricing. If you are selling a product, it’s easier because there is a formula that you can follow based on the cost of goods and markup. When it’s your own service, it brings up all kinds of issues.

From a low self-worth mindset  many solo business owners:

•  Feel embarrassed charging too much.
•  Think “people can’t pay any more than a certain amount.
•  Would rather get paid something than nothing.
•  Don’t want to be seen as being expensive.
•  Are uncomfortable charging more until they’re more experienced.

The real challenge is that when you feel you are your product, you tend to over-identify with your service and take everything very personally. It’s hard not to, and it brings up a lot of self-doubt and fear. Much of it can get centered on money.

Many solo business owners say they want more money. They have sleepless nights worrying about money and how to pay for everything. But they drop the ball when it comes to charging for their services.

So I tell people, be willing to receive large amounts of money. This requires you to realign your self-esteem, let go of your fears, own your expertise, and develop a business plan that is based on your unique business goals. Are you ready to do this?


Self-doubt mindset

it can be challenging to come up with financial goals, especially if you’re used to just squeaking by. Often self-doubt will affect the numbers you aim for and deep down you wonder if you can really manifest it.

But the really hard part is figuring out what it is that keeps you from reaching those goals. You might feel like you are working all the time, going to networking groups, putting out marketing materials, and still. nada!

It can be frustrating, and it can make you question your competency and ability. It can bring up feelings of shame and failure. When this happens it’s important to dig deeper and find out what it is inside you that is really holding you back.

Most likely you will discover some things about yourself and your beliefs and attitudes that will make you swallow hard.

I used to secretly feel I was not good enough, not smart enough and therefore a fraud. I worried that people would discover my secrets and they would look down on me. How do you think those kinds of beliefs affected my business and my goals?

I had to dig right down to the roots of those beliefs and make peace with them before my business could grow past a certain point. Once I did that, it all shifted like magic. I was no longer operating out of negative self-doubts. “The truth will set you free” is really true!

So, what holds you back? What limiting attitudes are hanging out right below your radar? Until you know this, you can attend hundreds of networking events, write elevator speeches galore, and create brilliant web copy every day . . . and nothing will change.

Even the most successful people are aware of being held back in some way. This is not something you do once and are done. Part of being an entrepreneur is the willingness to constantly look deeper into yourself and your fears.

Self-doubt and low self-esteem can frame an image of you and your business that is small and poor.

From that place of struggle, people will often contact me for help with marketing. I wish it were that simple. Marketing is just part of the problem. It does begin with your attitude and then moves to all the eight parts of your business.

Are you ready to step into new and bigger boots? It might feel uncomfortable at first but those boots will help you grow your business and help you become the leader you want to be.



Learn more about the author, Kaya Singer.

Comment on this article

  • CEO 
Blairsville, Georgia 
Elizabeth Dyer
    Posted by Elizabeth Dyer, Blairsville, Georgia | Sep 28, 2011

    Great article Kaya, as usual. I have myself found that my fears have held me back from time to time. And you're absolutely right, it is an ongoing journey where we must continue to face those fears in order to grow and reach our potential. Thanks for sharing!

  • Bookkeeping 
Portland, Oregon 
Aleta Mekvold
    Posted by Aleta Mekvold, Portland, Oregon | Sep 28, 2011

    Thanks Kaya!

    An area I've been working on this year! But reading this tells me some more work still needs to be done! It's amazing what taking care of those destructive core beliefs can do for a person. Thanks for the insight!


  • Business coaching services 
Portland, Oregon 
Kaya Singer
    Posted by Kaya Singer, Portland, Oregon | Sep 29, 2011

    Great to hear from both of you. As you say, it never ends, but luckily it is possible to become more aware and make better choices.

  • Small Business Strategist and Marketing Consultant 
Eastport, New York 
Beth Schecher
    Posted by Beth Schecher, Eastport, New York | Sep 30, 2011

    Hi Kaya, Once again a great article. It is reassuring to know that even you went through the times of self-doubt. Bless you for confessing that you thought that others would discover your secrets and see you as a fraud. Nice to know that we all go through that at some point.

    Great teleclass last night! Also, looking forward to seeing you in a few weeks. Beth

  • Business coaching services 
Portland, Oregon 
Kaya Singer
    Posted by Kaya Singer, Portland, Oregon | Sep 30, 2011

    Beth- it was wonderful hearing your voice last night and I look forward to meeting you in person in a couple weeks! OMG- did I go through huge times of self-doubt. I still do. I have less trust of people who say they don't have any. The goal is to constantly be aware, focus on empowerment instead and make decisions from a balanced place. It is a life-long journey:)

  • Professional Organizer 
Gresham, Oregon 
Connie Reineccius
    Posted by Connie Reineccius, Gresham, Oregon | Sep 30, 2011

    Kaya, This is something I've struggled with and figured some money is better than no money. However, I've changed my mindset as I've gotten more clients and realize how valuable my organizing talent really is, so now I charge more than before. Thanks - excellent article.

  • Hotel Operator, business developer, designer, environmental consultant 
Spring Green, Wisconsin 
Carolina Dursina
    Posted by Carolina Dursina, Spring Green, Wisconsin | Oct 04, 2011

    Great article Kaya; although I am in a different kind of business and operate a small biz, there are times when dealing with "cranky" and "moody" people it makes me question if I didn't push too far with my rates.

    That last just for a short time, because the next customer comes in with a smiley face and express a gratitude to even find such a fine business like mine, - environmental conscious, clean and with a great preserved integrity... so...

    I very much welcomed reading your work! Great job!

  • Business coaching services 
Portland, Oregon 
Kaya Singer
    Posted by Kaya Singer, Portland, Oregon | Oct 06, 2011

    Connie- thanks for sharing and yes- what you offer is valuable and you deserve to get plaid well!

    Carolina- your point is really important- not to make decisions based on cranky customers :) Your business is not that different in that you do offer a service and people pay you for that. Same thing really. You have to know your financial goals and what you need to do in order to meet those goals and at the same time provide really good value. If I am ever your way- I will stop in for sure!

  • Massage Therapist/ Personal Trainer 
Portland, Oregon 
Anne Mccranie
    Posted by Anne Mccranie, Portland, Oregon | Oct 06, 2011

    be willing to receive large amounts of money

  • photographer 
Bellingham, Washington 
Mark Turner
    Posted by Mark Turner, Bellingham, Washington | Oct 06, 2011

    I hear these doubts routinely from people in my business, photography. It doesn't matter whether you're service local clients or working on a national ad campaign. In a creative business we harbor self-doubts all the time. It's tough to overcome them, particularly on a day when we think a client will be thrilled with our work and they're not gushing praise.

    It's hard to learn to charge more than I'd be willing to spend for a product or service, but that's often what we have to do. I know that if many of my clients don't suffer some sticker shock, or gasp at the price, I'm not charging enough.

    So what's lurking deep in my mind that leads me to spend the most time working on the parts of my business that bring in the least money?

  • Interior Designer & Coach 
Kirkland, Washington 
Nancy Meadows
    Posted by Nancy Meadows, Kirkland, Washington | Oct 07, 2011

    I always love your articles, Kaya. They are always on target. This particular one is a biggie, and that affects everyone, at least from time to time.

    Why is it so difficult? I understand how our subconscious works, but that knowledge doesn't make the "stinken thinkin" disappear.

  • The ideas-to-action navigator on your road to results 
Carver, Minnesota 
Kathleen Watson
    Posted by Kathleen Watson, Carver, Minnesota | Oct 10, 2011

    Kaya, it really is a challenge to not only become aware of our limiting beliefs, but to take action to change them.

    A great resource I found for this work is a tiny book by Michael Losier called The Law Of Attraction. He describes the LOA as comprising three steps: (1) Figure out what you want, (2) raise your emotional vibration so that it's easy to experience how wonderful achieving your goal will feel, and (3) ALLOW what you desire into your life.

    What I found most valuable about the book is the way it addresses a common challenge for people who are working to change their mindsets and become more adept at manifesting: "I KNOW I don't have a six-figure business yet, so I KNOW I'm lying if I simply try to affirm that 'I earn six figures'."

    I don't think it's possible to have too many resources when it comes to upgrading mindset, so this book would be another good one to add to the arsenal. Now if only I could find a good seminar on "Awakening Your Money Stream".... :)