Denise Duffield-Thomas's Blog, page 19

3 big money worries and how to fix them

 

Are you worried about money right now? 

Or maybe you’ve been worried about money for a long time, and you don’t know how to deal with it or change things for the better.

Well, there’s no time like the present to sort it out. 

I’ve helped tens of thousands of people with their money blocks for over a decade, and I’ve seen three common fears that pop up repeatedly.

These are:

There’s never enough money
I’m not good at managing money (even if I have it)
It’s not safe for me to have money

If you have any of those worries yourself, today I’m going to give you some practical techniques to deal with them.

Plus, by clicking here, you can access a free workshop that will help you identify your money blocks and manage any other money worries you’re dealing with right now.

Ready? 

It’s your time and you’re ready for the next step. 

xx Denise

4 Easy Steps To Stop Money Stress

 

Your weekly pep talk today is all about how to stop worrying about money.

You might think, “Hey, Denise looks pretty chill. She never worries about money.” 

Well, that is true about 80% of the time for me. 

But, I didn’t grow up like that. I grew up in a situation where we were always worried about money.

I spent my twenties always worried about money, so I know exactly how it feels.

So I’ve got some really good tips about how to stop money stress and take your income to the next level.

No matter how real and permanent your money worries feel, working on your mindset is crucial for you own well-being and learning how to reduce money stress.

Have you noticed that when you’re really stressed out about money that suddenly it gets worse?

You have more bills come in, you find all these unexpected expenses or maybe your car breaks down.

All this “bad” stuff happens and it seems to compound. It’s not that you’re necessarily creating it, it’s just that you’re not in the mindset to do anything about it.

Each problem feels like it’s getting worse and worse. So what do you do when you’re worried about money?

Let’s get started with Step 1… 

#1 Voice your fears.

Actually talk or write about it, but at least acknowledge what you’re worrying about.

Sometimes you can just go around with this low level feeling of dread, but you don’t even know WHY you’re feeling that way.

Sometimes there’s nothing actually wrong, but you might be experiencing an upper limit problem.

If you haven’t heard about that before, you must read the book The Big Leap by Gay Hendricks. He talks about how everyone has got their own upper limit of happiness, success or even money.

When you hit that, you start to feel uncomfortable and you might even start to sabotage it.

So – it’s really important to voice your fears.

What are you worried about right now?

  Are you worried about bills?
  Are you worried about not attracting enough clients?
  Are you worried about something that hasn’t even happened yet?

Better out than in like farts. 

#2 Know your numbers

How much do you really need right now?

How much do you want to make? Do you even know?

Often, when we are feeling worried about money, it’s just this vague feeling and they really don’t know what they’re scared about and they really don’t know how they can even fix it.

But – they often don’t know how much they need. They just say, “Universe, send me more money,” and then they find a penny in the street and think, “That’s not what I had in mind,” and the universe is like, “Be more specific.”

So find out …

How much do you need to stop worrying?

Put a figure on it, and know what you’re asking for. Otherwise, your vague requests are going to return vague results.

If debt is a major source of stress for you, check out my free Debt-free Blueprint to put together a plan to get out of debt and clear up your mindset around debt. 

#3 Make a plan

After you voice your fears and know your numbers, you can make a plan to make you feel better about it.

You can buy insurance, you can look at one of those specific fears and try and come up with a plan to lessen your fear.

Maybe you fear you’re going to lose your house if you don’t get more clients this month (that might be true, or it might be a completely unfounded fear). Maybe you think something really bad is going to happen if you aren’t successful in business this year.

Rather than walking around with this vague fear, make a plan about how you’re going to get those clients.

If you need to do an honest assessment of where you’re business is at right now, grab my simple business assessment spreadsheet here. 

#4 You are enough

You are enough.
You’re doing enough.
You’re doing great.

Because, if you don’t get rid of this feeling now, money is not going to solve that problem. 

That sounds really harsh because you think, “All I need to do is win the lottery and all my dreams will come true and everything will be perfect.”

The truth is that when people suddenly get a lot of money, they’re still the same person with the same fears and worries.

Money doesn’t solve the problem at all.

The problem is solved from the way you feel from the inside out.

When you feel good about yourself and feel good about your money, then you can take action to do something about it. 

You can grow your abundance because you’re not coming from a place of lack.

To recap:

When you’re worried about money:

1 Voice your fears

2 Know your numbers – Know how much you need and know how much you want to make;

3 Make a plan – What’s going to help you overcome some of those fears

4 Know that you’re enough. You are enough and you can do it.

 

You can also listen to my podcast episode on this topic here:

Episode 90: How to stop worrying about money

It might seem unrealistic now, but you can totally get to a place where you don’t worry about money anymore and where the amount of money that you have in your life is just a tool for you to create your dream life!

It’s your time and you’re ready for the next step.

xx Denise

Ask Me Anything: Longevity and staying motivated

EPISODE 131
Ask Me Anything: Longevity and staying motivated
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Whether you're feeling burnt out, lacking motivation, or need inspiration, I'm here to help!

One of the things that sets me apart in the online marketing industry is my longevity - I've been running the Money Bootcamp course and community for over a decade, and we have over 9,000 members. 

So I get asked all the time, how do I stay interested and focused? 

How do I stay motivated and not break my business?

On today's podcast, we're talking about longevity in business. 

Most small businesses fail within the first five years, and even fewer make it to 10. and for someone with ADHD, it hasn't always been easy to maintain the discipline needed to sustain a simple long-term business.

I've done my fair share of procrasti-learning and procrasti-branding. Still, along the way, I've learned some powerful lessons that helped me set up my business to fit my personality and lifestyle. 

Listen to this episode to learn: 

Simple strategies from running a decade-long online course
How to avoid breaking your business because you're bored 
Tips for setting boundaries so you can balance service and self-care
How I'm planning for financial retirement and simplifying our business 
Why desire and simplicity beat feat and self-doubt 

 

If you're feeling overwhelmed, constantly juggling tasks and losing sight of your passion, then you are not alone!

Many entrepreneurs find themselves caught up in the hustle, sacrificing their well-being and joy for the sake of their business. 

If you're stuck in a cycle of exhaustion and disillusionment, it's time to find out what would make your business easier. 

Because if your business doesn't work for you, it won't last. 

How would you set up your business today if you knew you would be running it for the next ten years? 

It's your time and you're ready for the next step. 

xx Denise 

P.S. If you've been listening for a while and are enjoying the Chill and Prosper podcast, please jump over to Apple or Spotify and leave a review - it helps us help more people and grow the podcast. Thank you! 

Talking property, creativity, and money with Naomi Findlay

EPISODE 130
Talking property, creativity & money with Naomi Findlay
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If you’re a regular listener to my podcast, you’ll know I don’t often have guests on the show. I batch like 12 episodes in a day and the logistics of having guests usually doesn’t work with that. 

But today I’ve got something special - a chat with my bestie, interior designer, and set designer, Naomi Findlay. 

Naomi and I have done a LOT of renovation projects together and partnered in a few businesses, so this is a juicy chat all about creativity, money, and friendship.

This is also my first-ever sponsored episode! 

Don’t worry, I’m not going to start pushing vitamins or life insurance, but we do have an epic partner for one of the projects we’re working on together. (Free tiles… yay!)

You may have seen on my socials, that last year Naomi and I bought an old bank in a small town to renovate and turn into accommodation and event space. 

Of course, as a money mentor, I had to buy a bank! 💰💰💰

The Blue Space, Australia's largest online dedicated renovation retailer, came on board as our partner and provided beautiful tiles, taps, vanities, handles, just so so many things! If you’re in Australia and planning a renovation, check them out and use the code Chill10 at checkout for a 10% discount. 

And follow along on @branxtonbank to see what tiles we chose for the bank. 

Listen to today’s podcast episode to hear Naomi and I chat:

How I work with my best friend and the ways our personalities enable each other in good and bad ways
More about the numerous property projects I’m excited about
How to set boundaries when partnering with versus hiring someone 
Cautionary tales from going into business with your spouse (JUICY!)
Our lessons in motherhood and business as CEO-mamas 

 

This is an honest and beautiful conversation and I’d love to hear what stands out for you in this episode. 

Watch this space for more photos of our  Branxton Bank renovation with the awesome products from our partner @thebluespace - thank you!! 

xx Denise

How to balance faith and fear

EPISODE 129
How to balance faith and fear
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Does this sound familiar? Have you been constantly told to get over your fear to succeed in your business? 

But despite trying to bury your fear, you still feel anxious and uncertain, unable to move forward with confidence. 

I’ve been there too - stuck in that constant struggle between faith and fear, it can be painful and overwhelming. 

And how can we tell the difference? When should we listen to fears from our intuition, and when should we push through?

On today's podcast, we're talking about how to balance fear and faith and how to discern between wishful thinking, fear, and scarcity. 

Listen to this episode for more on; 

Why a positive mindset is so important when starting your own business
How to look for self-fulfilling prophecies and attract positivity 
How to avoid gas-lighting yourself and slipping into toxic-positivity 
Understand the importance of self-love and acceptance in overcoming fears
Learn how to channel your fear into a driving force to take action

If you're stuck in fear right now, start by trying to love and accept yourself just a little bit more. This was a massive game-changer for me, and it's something you can start right now, no matter your circumstances. 

Give yourself the gift of love and acceptance. 

xx Denise

Pricing Strategies Pros and Cons

EPISODE 128
Pricing strategy pros and cons
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Pricing is such a pain point for many entrepreneurs, so I talk about it a lot.

 You'll also have to revisit it regularly during your business journey. 

A price that feels big and scarcy at the start may soon feel normal or too small. So it's essential to continue to review your pricing so it feels like a win-win and a good energetic match. 

So, if you've been avoiding looking at your prices or need help experimenting with your prices, then today's podcast is for you. 

I share the pros and cons of different pricing strategies and why they may make sense for your business at various stages as you grow. 

Plus, we talk about the big mindset piece involved with pricing - feeling okay talking about money and learning that the price is just the price, and it's okay for you to charge (and receive). 

So much to dive into! Listen along to learn:

Why pricing is so important for your business and so challenging for your money mindset. 
Insights into various discounting and sale strategies and how they can make or break your profits.
How to align your pricing with your brand with authenticity and ease. 
The benefits of incorporating VIP upgrade pricing and tailoring your pricing to match your customers' needs.
Why it's important to regularly review your pricing and how to use price changes to create new sales and marketing opportunities.

If you've struggled with pricing, know nothing is set in stone. You can change them. 

 And being clear with pricing is kind to your clients - they'll appreciate it. 

xx Denise

How to justify a big price increase

 

Let me ask you a personal question - just how often do you increase your prices? 

When was the last time you announced an increase? 

If you’re anything like the average entrepreneur the answer is probably “never”, or “not for ages”. 

In fact, most people I know are totally undercharging in the first place, and that’s a recipe for burn-out and can even affect your positioning in the marketplace. 

Increasing your prices is something you need to do regularly as a business owner, and honestly doesn’t need to be scary – so let’s look at how you can justify it to yourself and to your clients without feeling bad or greedy.  

Be honest with me - when you think about increasing your prices, do you feel guilty about it? 

If you do, that’s actually really common. 

The truth is that pricing is one of the things that feels really emotional for people like us. It can be really tough to set your own prices, which is why so many people try and crowdsource their pricing or want someone else to just tell them what to charge.  

Think about it: if you’re in a job, the company sets the prices. But now YOU’RE the boss, so YOU have to look after it. Bummer, right? (but it doesn’t have to be.)

When I was first working as a junior in a consulting firm, I was charged out to clients at a certain rate per day. As I got more experienced and did more training, they increased my charge-out price. The company had no qualms or money blocks about increasing my rate. 

But when I started working for myself, I charged lower than all the other coaches I knew, and felt like horrible every time I increased my prices – even just a little bit. 

It’s really common to look around at what everyone else is charging and either average it out, or undercharge their competitors. And that’s a HUGE mistake (but don’t worry, I’ve got an excellent resource for you to get over that pricing block). 

If you’re in the same boat and the thought of increasing your prices makes you feel sick, I’ve got three factors for you to consider to help you justify it. 

Factor #1: Experience

Have you noticed that some hairdressing salons charge different rates depending if you see a junior or a senior stylist? If you’re after the absolute best result, you’ll go for the senior stylist, but it’s only fair that the apprentice doesn’t charge as much, right? 

There’s a price point for every market and budget, and this is true of any kind of business too. Experience often means better results for your clients, and you can totally justify higher prices.  

If you’ve got a lot of experience, you’re confident about the results you can get for your clients and you save them time or money with your expertise, then you deserve to charge accordingly.

Don’t forget that your knowledge didn’t come for free for you either! 

Lots of entrepreneurs who go into a new business, almost discount their experience in other areas as totally irrelevant, which is a mistake. All of your experience counts if it helps your clients get results.  

It’s easy to forget that learning your craft actually cost YOU money and time too. Your investment in yourself saves your clients time and money. 

Your clients are borrowing your years of training, so they don’t have to learn through trial and error themselves. They are paying you to short-cut their success. 

Remember to factor that into your pricing – experience equals the right to charge more for what you offer. 

Factor #2: Demand

Are you so much in demand that you’re booked up for weeks, if not months in advance? Well - it’s time for a price increase. 

Are you back to back to back with no time to break for a cup of tea or even a pee? I’ve been there! 

In fact, I used to get up at 5am for my first international client of the day and had client sessions all day with no buffer in between to eat or go to the loo. That’s really not sustainable. 

If you’re super popular, it’s a textbook sign that you’re ready to put up your prices. In fact, you can increase your prices, and the demand probably won’t drop off that much. 

TRUST ME ON THIS. 

I’m not going to lie. Not everyone will stay a customer with you. Every time you increase your prices, you’ll lose some clients who are no longer in alignment with your rates – and that’s okay.

Even if you doubled your rate, and even if you lost 50% of your client base, you’d still be making the same money, only working half as much. 

Honestly, your business could easily withstand a 10-20% price increase without losing too many clients at all.

Some might even be willing to pay extra for a VIP option where they can get access to you straight away, rather than waiting in line. 

But the principle is – if you’re booked out, you can totally justify raising your prices because you’re probably getting amazing results for your clients. 

Factor #3: Awesomeness

This one’s the awesomeness factor! 

Are you just really, really good at what you do? Well guess what? You can charge an awesome price for it! 

If you get amazing results for your clients and they rave about you… you can totally justify charging a price that reflects those results. 

After all, you can help save or make your clients a LOT of money when you’re awesome at what you do. And this isn’t just for business coaches by the way - almost every industry helps people improve their lives in a way that can translate into time or money.

It might feel icky, though. You might be thinking, “But Denise, what about the people who really need what I do but can’t afford me anymore?” 

This is honestly the biggest reason why entrepreneurs resist raising their prices or charging premium rates – it doesn’t feel fair, and most of us were taught at a young age to be inclusive and friendly. 

Here’s the great news: when you’re earning awesome money for being awesome at what you do, it frees up your time and creativity. 

Then you have mental space and physical time to create products that are more accessible for those people who can’t afford your higher-end services. 

For example - you could write a book, like I did, to take your message out to potentially millions of people in a low cost way. Writing a book honestly takes a lot of (unpaid at first) effort, but if you’re completely booked out (and burnt out), you won’t have time to ever do it. 

Or when you have some headspace, you can put your methodology into a course (like my Money Bootcamp), so you can impact more people. 

Or you can free up some time to do pro-bono work that’s funded by the amazing income you’re making!  

It’s a win/win/win, too. 

You make awesome money and serve more people.  

So, Lucky Bee! These are my 3 tips on how to justify a BIG price increase in your business. 

Really take notice of these three factors to figure out just where you should be pitching your prices – chances are that you’re ready to increase them today. 

Don’t worry, it’s normal to be nervous about increasing your prices!

If you’re really struggling with justifying your prices, and need some help with it, I’m your gal!

If you’re wondering how to actually communicate it to your clients without them freaking out, then I’ve got a free resource for you to help you figure it out.

It’s my Ultimate Pricing Guide including my best pricing strategies, tips for scripts for talking to your clients and how to make this your best month ever.

Watch now at denisedt.com/pricing

Plus it’s totally free!

It’s your time, and you’re ready for the next step. 

xx Denise.

Addressing rumours of my retirement

EPISODE 127
Addressing rumours of my retirement
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If you haven't heard a single rumor about this, you're probably thinking, "Who do you think you are, Denise?"

Or you may have heard that it's a goal of mine to retire soon, and you're curious.

At a conference I was speaking at back in March, I mentioned that I'm on track to hit my goal of retiring by 45, and maybe it was an overshare, but I had a few people freak out. 

So, I wanted to record this Chill and Prosper episode to share more about what's happening for me and what I'm manifesting. 

This all started in 2009 when I was getting started in the online marketing world, and I heard Ali Brown say she was a millionaire by 35. 

It blew my mind, but when I saw it, I started believing it might be possible.

So, I set an intention that I would be a millionaire by 35, and I believed it. If she could do it, then maybe I could do it too.

I hit a million dollars, not quite by 35, but just before turning 36, which wasn't bad. Since then, I've made over $27m over the last decade, which led to a new intention… retirement. 

Listen to this week's episode for more on what retirement means to me and what my business might look like in the future.

I'll share ways I'm creating more FREEDOM in my life and how I'm changing my spending and investing priorities. 

Please don't worry; I'm not closing my business or stopping Money Bootcamp yet, and I'll keep writing books. 

I'm doubling down on freedom, simplicity, and being bold in support of people like us and the causes I believe in.

It's going to be a new, exciting chapter! 

I'll still be here to help you to create more freedom, choice, and abundance. 

xx Denise

Better business boundaries will help you love your life again (I promise)

 

  

Do you need better business boundaries? You’re not alone!

You know when everything in your business feels like it’s all too much?

Clients contacting you day and night…

Paying late or making ridiculous demands and then not even thanking you?

What about those annoying people who ask for your time for free, or to “pick your brain”?!

F*ckers.

If you’ve had enough of taking on everyone else’s problems, you need … boundaries

Boundaries give you back confidence in your business, reduce 90% of your stress and help you go bouncing through your work day.

This is no-joke my favourite topic at the moment and is about to become yours.

I modelled this video directly from the Berocca campaign of the 80s and 90s because seriously, having no or loose boundaries in your life and business sucks big time. 

On the other hand, when you get a handle on boundaries and design your life to make YOU happy first and foremost, you’ll actually start to make more money and enjoy your life and business again.

Why do people like us have so much trouble setting boundaries around their time, money and energy?

Because we believe we have “no choice”

Because we want to be accommodating and “nice”

Because we want people to like us

Ouch! Harsh but true.

But when you really get this lesson, you’ll see that having strong boundaries is actually the most loving and respectful thing you can do and one that will attract a better quality of clients, friends and other people into your life.

Let’s start with something easy but very symbolic:

Boundaries around your time

When I first started in my business, I would coach people at 5am. It SUCKED big time and I wasn’t present with my clients or happy getting up at the crack of dawn. It made me grumpy and sleepy for the rest of the day.

Why did I do it? Because I thought that if I said no to my international clients, they wouldn’t book with me again. I wanted to be accommodating, even if it affected my quality of life.

My coach Fabienne Fredrickson told me that she has turned down many international clients because she refused to budge on her schedule. She told me;

“I am more important than money. They will find another coach who suits their needs better”.

And guess what? You will find more than enough clients that will work with your new and improved schedule, plus you’ll be WAY happier.

Your better time boundaries prescription

Decide when YOU want to work.


Do you want to do evenings and weekends… or not?
What’s the earliest or latest you’re happiest with working?
When do you work best?
Can you take off a whole day completely from client work?

It’s okay to have your business be exactly the way you want it. There are MORE than enough clients out there for you.

Create a new policy and inform your clients about it.

Just make a simple announcement on your website or newsletter:

“From 1st May, opening hours are X Y Z.”

No apologies or over-explaining (it’s your business after-all) and no need to beg for understanding. Just give them notice (anything up to a month is fine) and that’s the end of it. Remember, people make time for dentist and doctor appointments. You don’t have to be super convenient for everyone.

I know the fear is that you’ll lose all your clients, but trust me – that won’t happen. You might even free up time and energy to write a book, create some programs that don’t require your time or have energy for some well-defined pro-bono work.

Enforce the new boundary.

People will try and push the new boundary, “Can you make an exception for me, pretty please?“. Trust me. It will happen within 24 hours of you mentally and emotionally making the decision. I bet you ten bucks.

And seriously, the first time you enforce it, you’ll feel like the biggest bitch in the world, but stick to your guns and you’ll feel amazing.

Here’s something to think about – I used to offer my clients up to 55 different slots a week. I had maybe 10-15 clients a week which was my idea of a happy workload. So, I was just trying to be accommodating by offering them appointments anytime from 7am-6pm five days a week. (I stopped offering my 5am offering but 7am appointments still sucked).

One client said that seeing so many available appointments on my calendar made her think “hmmm, maybe Denise isn’t doing so well”.

So being too accommodating can backfire as well as make you stressed.

What about money boundaries?

Money blocks and boundary problems are so common for entrepreneurs and it can destroy your business!

Are you suffering from…

Clients not paying
Discounting clients
Bartering or working for free
Not earning what you think you’re worth?

OMG – there is so much I want to say about this. I’ve written about money boundary stuff and how to increase your prices several times.  But you might need a bit more help.

I’ve got a great resource for you where I help you navigate awkward money conversations, click here to download the free e-book. 

I’d love to know what boundaries you’re working on - send me a message on social @denisedt and I’ll cheer you on!

 

xx Denise

Ask Me Anything: Staying on top of your mindset

EPISODE 126
Ask Me Anything: Staying on top of your mindset
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Every day, I get questions from entrepreneurs about how to stay positive, stay on top of my mindset, or what to do when the inevitable blocks pop up. 

I’ve spent the last two decades helping people with their mindset in business because I know how crucial it is to your success and well-being. 

Working on your mindset is one of the only things in business that you can’t outsource to anyone else, and in my opinion, it is the number one thing we have to master as entrepreneurs.

When I talk about mindset work, I mean believing in yourself, nurturing an abundance mindset, and challenging your negative beliefs. 

It’s not a one-and-done thing, and it’s not one-size-fits-all. You must learn to continually watch your thoughts and feelings to ensure they don’t derail you. 

Because we all have negative thoughts, and you can’t ever truly get rid of them, but you can learn to dance with them so they don’t undermine the pursuit of your dreams. 

So, this is the topic we’re diving into on today’s podcast. 

Listen along to learn:

How to deal with overwhelm
How to balance ambition and guard against taking too much on
Tips to staying focused when you feel like it’s not working 
Overcoming setbacks and how to be gentle with yourself 

 

One of my most important lessons about staying on top of your mindset has been the value of masterminds and having a space to be vulnerable and honest. 

Because it’s okay for you to be vulnerable, have mindset wobbles, and ask if you need a little extra support. 

And if you need money mindset support, my Money Bootcamp community and I are waiting to welcome you when you’re ready. 

Take care,   
xx Denise