Are you having a hard time generating wealth in your coaching business? Sometimes being stuck in our own heads can be a part of the issue. When it comes to money, self-limiting beliefs can set you on a path that is hard to get off.
“I’ve never been good with money.”
“I hate budgets.”
“I’ll never be a 6-figure earner.”
“My market won’t pay premium prices.”
If you’ve ever heard these statements come out of your mouth—or even in your head—that means you’re engaging in a damaging habit known as negative self-talk. By telling yourself these lies (and yes, they are lies), you’re reinforcing the beliefs that go along with them.
When you visualize more wealth in your coaching business and believe, it is what becomes true.
Tell yourself that you’re not good with money, and you won’t be. Believe that budgets are horrible chores to be reviled, and you’ll resist creating one. Convince yourself that you can’t earn a 6-figure income, and you won’t.
It’s not “the secret.” It’s a scientific fact. Known as a self-fulfilling prophecy, this kind of self-talk results in poor performance simply because we act as if it’s already true.
If you tell yourself that you’ll never be a 6-figure earner, then you will not do the things that 6-figure business owners do. You won’t work to grow your mailing list (“No one reads my emails anyway”), you won’t increase your coaching rates (“It’s not like I’m some top-earning coach”), and you won’t build a brand worthy of a 6-figure income (“A beautiful brand isn’t necessary at this income level”).
By contrast, if you act and think as if you already are a 6-figure earner, you’ll approach your business quite differently. Your confidence level will increase as a result, and you’ll present a very different brand to your prospective clients. You’ll then go out of your way to connect with those who can and will afford to pay your higher rates.
How to combat negative self talk
The first step toward changing your negative self-talk is to simply acknowledge that you can do it. Tick a mental checkbox every time you catch yourself making negative statements, whether out loud or in your head.
Make a note of the ones that come up most often for you, and identify their origin if you can. For example, if your ex-husband continually berated you for your spending habits, chances are your “I’m no good with money” mantra can be laid right at his feet. It’s time to turn that thinking around.
For instance, the next time you catch yourself saying “I’m no good with money,” take a minute to recall 5 instances where you were good with money. Maybe you paid off your credit cards or saved for a house or built an emergency fund. Rephrase your self-talk to, “I used to be bad with money (if that’s true), but now I make smart choices to achieve my goals.”
Just as negative self-talk becomes a self-fulfilling prophecy, so does positive self-talk. Reframe your thinking, and your business finances will certainly improve.
Create more positivity around money
I deserve to be rich. Say that out loud and see how it fits. It might be uncomfortable at first but repeat it daily. Look in the mirror and say it loud and proud!
Now take stock of why you deserve to be rich. Acknowledge your coaching abilities. If you were not a good coach, you wouldn’t have started your own business, right? The coaching industry is a multi-billion dollar industry and you therefore deserve your share.
Now it’s your turn. Finish the following statements
- I deserve to be rich because…
- Money helps me to…
- I will be a six-figure earner by…
- The value I provide my clients is…
When you start acknowledging your value and crush the negative self-talk, you will start creating wealth in your coaching business.