Mentorship, Pricing Structures & Self-Limiting Beliefs | Minding My Business #18
Turns out I've been doing it all wrong🙃
Hey friends, happy Monday!
This week I had my very first session with my mentor. It was nothing too serious, just a ‘get-to-know-each-other’ meeting. Turns out I’ve been doing everything wrong. Okay…. not everything, but it was very eye-opening 60 minutes. My mentor started by giving me a few quick changes to make, and she got me thinking about growth and where I want to take my business.
Mentorship
I personally believe everyone needs a mentor. It doesn’t matter what you do in life, a mentor is a great way to help you figure out life and grow. I spent months trying to find the perfect mentor. I even used a spreadsheet to track meetings, progress, likeability, compatibility etc. the list goes on.ðŸ˜
I really wanted to find someone who was not only great at branding and business, but someone I can open with. Building a business can leave you feeling lost and confused. There are so many moving parts to learn and master and it gets very overwhelming very quickly. Having someone you trust to help you bring your vision to life, whilst encouraging you, is essential in my opinion. And I’ve finally found her. The first thing she told me is that I need to quadruple my prices and I almost choked.
Pricing Structures
As a freelancer or young (in terms of experience, not age) business owner, figuring out how much to charge is the WORST. It’s really hard to know what’s too high and what’s too low when your industry peers keep their cards to their chest. But it turns out I’m not charging enough. Like, really not enough. I couldn’t be further from enough if I tried. This is because of my self-limiting belief. I can’t see why anyone would pay thousands for my ideas. Not because they aren’t good (because my ideas are sick if I do say so myself😌). But because I just don’t think other people will see their value. This is kinda true. Some people will never pay for my strategies. But there are people out there who wouldn’t even blink twice before signing a contract. These are the people I need in my life. Pricing structures are a never-ending struggle, but remember, there’s always someone who’s willing to pay. Find them.
Lessons I’ve Learnt This Week:
The only thing stopping me is me
As much as I like to think that I believe in myself, sometimes I can hold myself back. Whether it’s self-limiting beliefs or fear, sometimes the only thing that’s holding me back from progressing and reaching new heights is me. It’s a tough pill to swallow, but now that I’m aware of it, I can change.
You don’t need to make mistakes
It’s no secret that one of life’s greatest teachers is failure. But we don’t have to fail to learn a lesson. Having a mentor with more experience than you allows you to learn from and avoid their mistakes. Using your mentor mistakes to guide you can save you a lot of time and money.
Go where you are valued
Many people would look at my new prices and laugh, maybe even complain. These people do not value the service that I provide. That doesn’t mean I should reduce my prices to suit their needs, it means I should find the people that do value my services. Those people are willing to pay my prices and then some because they understand how my services can help them. We should always seek to surround ourselves with people who value us, both in business and in life.
Anyone can be a mentor
If, like me, you’re lucky enough to have a mentor you can interact with, great! But mentors don’t have to be people we know. There are many things we can learn from others, through their books, podcasts, tv appearances, and social media content. If you think about it, everyone who can teach you something is your mentor. Use them wisely!
Thought of the Week:
Sometimes it takes an outside perspective for you to see your situation more clearly. Asking for a second opinion can give you the answers that you need. Don’t be afraid to ask for help.
After one chat with my mentor, I’m committing to taking my business where the money resides this year. You and your business should join me!
See ya next week!
Tee x
P.S. After trying Revue for a while, I’ve decided to come back to Substack just so I can interact with you guys. I will still be posting on Revue and if you prefer reading there, you can resubscribe here! - https://www.getrevue.co/profile/tiffanyti
Such great insight. Completely agree with you on the need to have a mentor in life. Ps: QUADRUPLE!!! Clearly you were charging peanuts to begin with.