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Do You Need More Money?

By on September 19, 2011 in Blog, Business Success, mindset, Pricing Your Services

There is barely a week goes by that I don’t see a news story based on the dwindling funds that our elderly have to survive on.  So many of these folks are going without so many of the bare necessities just to survive week to week.

When I think of the years these people have dedicated to working and raising families, my heart sinks and I silently bless every one of them.  I have special place in my heart for the elderly because I believe many have a lot of experiential wisdom to share with us which is priceless.  In other words… they have been there and done that already.

Did you know that 95% of our elderly are broke and in debt?

As an example of our current economic state, let me show you what the statistics are for 100 men starting at the age of 25.  Do you have any idea what will happen to those men by the time they are 65?

…one will be rich

…four will be financially independent

…five will still be working

…thirty six will be dead

…fifty-four will be broke

Where will you fall in those statistics?

I want to share the results of a large selection of people who owned their own business and were asked what motivated them to start it. The one thing that became clear and common is that the desire to ‘be my own boss’ is the most common reason selected by these business owners for starting their own business. There was a clear driver amongst these entrepreneurs; to be independent and in charge of their own destiny.

Australians are proud to be leaders when it comes to sporting achievements or new inventions, but the leading position no one wants to hold is that in the race to be the nation with the highest personal debt.  Each Australian adult is currently in debt to the value of around US$56,000.

Australians’ mortgage, credit card debt and personal loans total over AU$1.2 trillion, which is an increase of 71 per cent from just five years ago.

The knowledge and understanding of the principles of wealth is available to all who hunger for more out of life than what they have achieved so far.

 

What about money? Why is it constantly on our minds? Why has financial independence eluded 97% of the world’s population? Why is it that people who live and work in one of the greatest nations on earth, end up living below the poverty level? Why have we not achieved our financial goals?

What is the missing link?

Many of you have experienced that in spite of “doing all the right stuff”; you did NOT achieve financial freedom using the formulas you were taught in school or in any of your professional training.

Has it ever occurred to you that you were NEVER TAUGHT TO BECOME WEALTHY?

What will make you wealthy is the knowledge of how to create wealth regardless of where you are in the system. This starts with implementing your personal plan for wealth.

How do you effectively do that?  I’m glad you asked.

Keep in mind that you already possess everything you need to obtain your wealth and abundance. Even if you have failed before and think you have tried everything. You only need to make a few adjustments.

And those adjustments begin with how you think.

In 1999 I found myself sitting at an investment seminar filled with other individuals who all seemed to be asking the same question. “What can I do to make more money and create more wealth?”

The speaker at this particular seminar had just made a very profound statement.  He said, “95% of the wealth in the world is held by 5% of the population.”  He went on to say, “There is no shortage of abundance in this world.  In fact, there is enough wealth in the world for every person to have 10 million dollars.”

My immediate thought was “Wow!  How I’d like my piece of that!!”  For a family who was constantly making the weekly budget stretch as far as possible, 10 million dollars seemed like a huge goal. However, I am a firm believer in whatever the mind can conceive, it can achieve… and I was very determined!

So I set out to make a plan to earn my millions.  I have now spent many, many years researching ways to produce additional streams of income.

Australia is now tenth in the world when it comes to the number people with net worth above $US1 million excluding their home. I’m proud to say I am part of this number and I’m still setting new goals.  Ok…enough about me.

What about you?

Did you know around 15 more people became millionaires?  How close are you to being a millionaire?

The number of Millionaires in Australia today is about 180,000. Most of these people own their own businesses.

Perhaps being a millionaire is too lofty of a goal for you right now.  How much money do YOU really want?

What if the money that you bring home every week was yours to keep?  100% of it!  What would you really like to be doing with your life if you didn’t have to work just to pay the bills?

What is it that you are trying to achieve?

Time Freedom…

Financial Freedom…

Less Stress….

Security….

More Time with Your Family….

You need to realize that wealth is not achieved over night.  It is a step-by-step process.

The Internet will produce more millionaires than any other Industry.  There are over 890,000 people every day joining the Internet.  Many of them are seeking a way to make extra income!

The home-based business is one of the hottest trends affecting our economy today.  Regardless of the reason why you may want your own home-based business, starting one is an extremely important part of becoming financially secure.

In the next post, I’ll give you some tips on how to choose a business that’s right for you.

Until then, make it a fabulous day!

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Five Most Common Mistakes When Selling Your Services

By on October 26, 2010 in Pricing Your Services

I have been having lots of conversations this week with service based professionals who are still selling their services to clients by an hourly rate.  This is the quickest way to stifle your income capabilities because it means that your income limit will always be equal to the number of hours you are prepared to be working.

It’s imperative that you move away from charging an hourly rate as quickly as possible so that you can maximize your earning capacity and, serve your clients to a higher level and get paid what you are worth.

Here are five big reasons why you need to move away from dollars for hours, and quickly!

Being compared ‘apples for apples’ with your competitors:

You need to continue to create ways to stand out from the market and be different to others who offer a similar service to you. When you charge an hourly rate, clients will develop a mindset around how much they are willing to pay per hour for any particular service.  When it comes down to this attitude, it becomes very difficult for you to charge sufficient to actually reflect what your expertise is truly worth compared to the results you can achieve.

It is exciting to be able to value add to your services so that you create a package that is seen as different from what anyone else is offering.  This means that you can generally charge more for your time, and it adds to the Unique Selling Proposition of your business.

Give your clients what they want:

People love packages or buying everything all at once rather than going back time and time again.  We even do this in the supermarket.  If we can buy two or three of an item for a cheaper price, it becomes much more attractive than going back week after week to buy in single portions.

It’s the same with your services.

A  program/package gives your client a sense of ‘belonging’ and allows you to show them your interest in their progress.  This all adds to client loyalty and the life time value of your client.

You have to constantly be re-selling:

Every time you have a client that you serve at a one off hourly rate, you have to re-sell them into another session with you.  This takes more energy and time on your part and means that your client is constantly having to re-visit their ‘problem’ to try to decide if they want to reinvest or not. This often leads to their decision that they are not going to return for more sessions with you.

Being committed to a program/package means your client can be completely focused on achieving the results they want.  If you totally believe that an extended service will be more beneficial to them, then you are actually doing your client a disservice by NOT offering them the chance to work with you over a longer period of time.

Stop the feast or famine:

It can be nerve racking to constantly be anticipating what your income levels will be each month.

Offering packages will mean that you can have a more constant and reliable income flow into the business which will then allow you to budget more effectively and re-invest wisely.

Stop spending unnecessary marketing dollars:

Attracting new clients can sometimes be a costly exercise.

Therefore it makes good sense to use your existing clients as an instant source of referral.  When a client gets maximum benefit from your services as a result of multiple sessions or a program environment, they are more likely to be a great referral source to others who may need you.

I would love to know about your programs or packages that you have created for your clients, so leave me a comment here below.

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Attracting Clients – Mistakes and Misconceptions

By on September 9, 2010 in Blog, marketing, mindset, Pricing Your Services

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Designing a successful business is not difficult.  It is just that most people are so great at what it is that they do, that they have no idea of the many other hats they need to wear as a solo-preneur.  One of those hats is that of a marketer.

Understanding the basic requirements for a consistent and effective marketing plan should be a foundational step in a successful business.

Watch this short video to hear what some of the most common mistakes and misconceptions are when people are marketing their business.  These are the reasons why so many people never get to achieve the success they truly deserve.

Leave me your comments and tell me what you discovered about your business from this video.

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How to Price Your Fees

By on July 29, 2010 in Pricing Your Services

One of the biggest mistakes solepreneurs make is undercharging for their expertise and knowledge. Although it is important to be sure that you are charging accordingly for your expertise, this is sometimes something that people are uncomfortable with when they are first starting out in their own business.

In this instance, I recommend that if you are just starting out, that you provide your service to clients at a rate that you feel comfortable with. Work with a couple of people at this rate and get really great results, and then with each new client, you will feel more comfortable about increasing your fees.

You can then continue with this increase until you reach a point where you are charging well for your time, and in accordance with what benefits you are providing your clients with as a result of working with you.

The more time you are giving to your clients on a personal level, the higher the fee for that time should be.  A premium priced product is where you are helping your clients to actually implement something for them by providing personal attention.  As you work down the ladder and have groups working together, or are providing information in a virtual environment to many, possibly hundreds, then you would most likely reduce the cost of those services accordingly.

However you are providing your service to your clients, you must still be sure that you are covering your costs.  Some people make the mistake of thinking that if they are providing services in a virtual environment, that they have no associated costs.  You must remember though that there are still things like audio services, transcription costs, teleseminar hosting fees,  email service providers.  All of these things need to be taken into account just as hall hire, printing costs and staff costs need to be taken into account for offline pricing.

Most of all, be very clear about the  value and outcome you provide to your client and use this as a basis for the pricing structure you put in place.

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