We sat down with Ibiza-based money and business coach Joseph James to talk about how to raise your fees, the importance of your mindset, why you need to be offering high-end packages, and how you can start!
Can you explain what you mean by money mindset and why it is important to be mindful of it?
OF course! Your money mindset is how you think about yourself, your worth and what is possible for you when it comes to money and creating wealth for yourself.
Your relationship with money is directly related to your relationship with yourself.
For example, if you want to raise your fees or start offering high-end packages but secretly believe that people won’t pay, then you’ll either hold yourself back or sabotage in some way. This is where money coaching comes in so beautifully.
What advice would you give to people who want to step things up in their relationship with money?
The first thing is to clarify what “step things up” looks like for your business and lifestyle. How much more do you want to make? Set some clear and exciting money goals for yourself.
A great self-coaching question to use to support your goals is:
What belief about myself do I need to strengthen to move forward with these goals?
On a practical level, look at where you can raise your fees, create next-level or upgrade offers and introduce multiple income streams in your business.
Give yourself permission to make more money easy and enjoyable for you. If you are looking for more help, you can get a free money mindset class here.
Why is raising your fees so important?
I created a line of t-shirts and hoodies that we send to clients that say “raise your fees” it’s something I am passionate about helping people with. It’s about stepping into your power with money, your greater self-worth and respecting your time and energy. When you work for something else, you’ll be able to ask for a pay rise gradually, promotion etc., well, give that to yourself.
One of my favourite lines to use when coaching a client to raise their fees is
“No one will ever offer to pay you more than you’re charging. Take responsibility for your pay rise and raise your fees.”
You can keep lower-end offers in your business but make sure you raise your fees when working with you privately and introducing higher-end offers. Too often, we wait for permission to raise our fees when it’s about giving yourself that permission and stepping into your power with money.
What advice would you give business owners navigating the current market, especially after the last two years?
If the last two years have taught us anything, it’s important to be in control of your income as much as possible and have multiple ways to create more.
In terms of sales and singing on more clients, we see a much more high-touch approach that works really well. Rather than just asking people to “click here”, it’s about inviting people to have a conversation with you, get to know you a little more and then help them decide if working with you is a good fit for you.
What about standing out in a crowded market?
I use this example a lot- the online space can feel like a noisy, crowded room. Instead of trying to get people’s attention that way, move into a quiet, more sophisticated room and have conversations.
Understand that you have a unique set of skills, experience and brilliance that is unique to you.
Always be authentic when creating marketing material for your brand and let your personality shine through. People resonate with authenticity now more than ever.
Everything starts with your mindset, so choose to know that there are enough clients for everyone and that you deserve to be well paid for your time and energy and feel secure in your business and its growth.
My favourite income-generating strategies to use right now
- Sell packages and programs with an obvious benefit
You can build any service into a package. I teach this in-depth in MMS Academy, and clients have amazing success with it. Packages help your client a lot more than a single service or session, deepen your relationship and allow you to charge a much better fee. It’s about creating what I call mutual abundance.
- Create VIP / high-end offers
A portion of your current client and customer base will naturally want a VIP offer, but people are not going to upgrade themselves. You have to make it available and suggest it when you feel it’s a good fit.
It can include more access to you, more support, faster delivery, and some done-for-you services. What would a VIP package look like in your business? What would you love to charge for it?
In marketing, now more than ever, we need to tap into what people want and highlight the clear benefits we can bring them. It’s about building trust and connection with your audience, especially now.
To arrange a complimentary 30-minute consultation about your money mindset and business goals, please email [email protected]
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