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Money Mindset Problems in New Businesses

July 29, 2018
Ann Finnemore

When working with clients who are on the brink of becoming freelance or self-employed in a services business, I often come across a particular mindset about money which is holding them back or which, if not addressed, will lead to them not being able to have a sustainable business.

This mindset is connected to how they perceive the value of their own time and skills, and prevents them from asking a fair price for their services, particularly for their time.

I’m finding that a MindSonar profile can really help such clients to identify which thinking patterns are at play in this situation.  The strength of MindSonar is its contextual nature, so it can be used to focus in on the problem area and the relevant thinking patterns.

In the clients in question, MindSonar helps identify how their thinking about charging for their services differs from their thinking around the other aspects of their new business.

For example, often a person who has decided to be self-employed might have a combination of the following Meta Programmes in the context of their business as a whole:

  • Internally Referenced
  • Internal Locus of Control
  • Proactive

However, when they consider pricing they move to the following combination:

  • Externally Referenced (“what will others think about these prices, when I’m only just starting out?”)
  • External Locus of Control (“I just can’t ask that much because the economy is not good, so no-one will be able to afford me”)
  • Reactive (“I keep thinking that there are some  businesses charging less, but I also think that I’m offering a better service, so maybe I can charge more…”).

Working with these clients to develop a realistic business model in which they charge the true value of their services usually involves some general coaching around self-worth, confidence, etc.  With MindSonar, it can also enable very targeted coaching on the relevant Meta Programmes.

Different clients might identify other Meta Programmes which are causing the problem, and I’m looking forward to uncovering which ones as I use MindSonar more in this context.

What are your experiences – have used MindSonar in this context yet? Perhaps you struggle with charging a fair price for your services.  If so, contact your local MindSonar Professional who will help you get your business in a healthier position.

Please let me know your thoughts on this in the comments section below.



About the author 

Ann Finnemore

Coach and Therapist, living in the UK. Previously a teacher, a medical researcher and then a senior manager in the public sector. After re-training, Ann entered private practice as a coach and therapist in 2008, co- founding the business Getting You There with her husband, a physical therapist. Her first book “Life in the Driving Seat”, 2016 (Goldcrest books) and is available from Amazon.

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