Top 5 Money Narratives That Hold You Back From Raising Your Prices (and feeling good about it) | Business Coach for Creatives
Top 5 Money Mindset Narratives That Hold You Back From Raising Your Prices
(and feeling good about it)
Are you someone who has a hard time raising your prices? Do you feel like you're not worth what you're charging? Do you think that people will judge you if your rates are too high? Or, maybe you feel like you just aren’t that ‘type of person’ who can charge what they want for their photography or creative services. If so, then you are not alone. Everyone has their own stories, internal narratives, other people’s truths, and lived experiences around money. Some of these are generational or could be someone else’s story that you have actually taken on as a belief, yourself. Most of our own thoughts and actions around money come from how we experience money in our formative years of childhood.
I want to acknowledge before we get going in this blog that there are very real systemic problems around financial inequality, poverty, and the capitalistic system. This blog is to specifically talk about common mindset and belief systems that I often see in my business coaching for photographers & creatives clients who are working to overcome and set new neuralpathways to rewire thoughts and feelings around money and is not intended to wash over or ignore those issues.
In this blog post, we will discuss the top five money beliefs, narratives, or feelings that could be holding you back from raising your prices in your photography or creative service business.
Money Mindset Narrative Holding You Back from Raising Your Prices 01-
‘‘I’m not good enough and I don’t deserve more money.’’
Number one on the list is the belief or thought that you are not good enough.
This is a common thought that runs through a lot of photographers and creatives minds. When our pricing and our creative service, such as photography, fine arts, design, we have our ego tied to our work. Often our ego will tell us that we are not good enough, that there is MORE we need to be doing and THEN we will able to raise our prices.
But the truth is, you are good enough. The fact that you are putting in your time, effort, skills, and self into your work is proof enough that you are good enough to raise your prices to be charging what you need for a sustainable business.
If you think you are not good enough to raise your prices yet, my question to you is:
how will you know when you’re good enough and when you have reached the point of deserving?
Money Mindset Narrative Holding You Back from Raising Your Prices 02-
‘‘If I raise my prices I will be judged by my family, friends, and potential clients.’’
The second belief is that raising your prices will cause people to judge you. This is another common fear that prevents people from charging what they're worth. But the truth is, people will respect you more if you're honest about your prices and what you're worth. If you're afraid of judgment, then remember that you can always start by raising your prices with a small group of people who you know will support you.
Money Mindset Narrative Holding You Back from Raising Your Prices 03-
‘‘Money is the root of all evil and I am a good person.’’
The third belief is that money is the root of all evil. This is a harmful belief that can keep you from attracting wealth into your life. Money is neutral – it's neither good nor bad. It's how you use it that determines whether it will have a positive or negative impact on your life. If you believe that money is evil, then you'll be hesitant to charge what you're worth or earn more money. But if you see money as a tool to improve your life and the lives of those around you, then you'll be more open to attracting it.
Money Mindset Narrative Holding You Back from Raising Your Prices 04-
‘‘I can not raise my prices until I am perfect and my business is perfect.’’
Number two is the belief that you have to be perfect. This is another common belief that can hold people back from raising their prices. If you think that you have to be perfect, then you'll never feel comfortable raising your rates or charging what you're worth. You might even start to doubt your ability to do your work well. But the truth is, you don't have to be perfect! You are worthy of charge what you're worth, and people will value your work if it's priced accordingly.
Money Mindset Narrative Holding You Back from Raising Your Prices 05-
‘‘If I raise my prices I will lose future customers.’’
The fifth and final belief is that raising your prices will cause you to lose customers. This is another common fear, but it's also unfounded. If your prices are too low, then you're likely already losing customers who value quality over quantity. And raising your prices doesn't have to mean losing all of your customers – you can always offer discounts or payment plans to those who are struggling to afford your rates.
I have heard from more than one of my business coaching clients that they have had a fear of raising their prices and pricing themselves out of ‘good clients’.
If you're ready to let go of these limiting beliefs and start charging what you're worth, then sign up for our free course, "Raising Your Prices without Losing Customers." In this course, we'll show you how to overcome these beliefs, raise your prices, and attract more clients who are willing to pay what you're worth! Click here to sign up now.
Do you have any other money beliefs that are holding you back? Share them with us in the comments below! And remember, if you're ready to let go of these limiting beliefs and start charging what you're worth, then sign up for our.
Photos by Annie Spratt on Unsplash
