Each person’s business inspiration is different, from spotting a gap in the market to making money or leaving a dead-end job. For some, their business is born out of a drive to help others, the knowledge that they have something unique to offer.
If that sounds familiar, it’s likely that you are a purpose-driven entrepreneur. You love what you do, and you want to make a real difference in the world by sharing your gifts with others.
For purpose-driven entrepreneurs, the main challenge is to make money when they feel like they are helping others. And that makes sense! If your ultimate goal is to help people, how can you take their money to help them? If you’re trying to truly give something, isn’t it wrong to take in return?
The Success Mindset Means Fighting the Imposter Syndrome
Many purpose-driven businesses struggle with what’s known as the Imposter Syndrome. They fear that they are not competent enough to charge for their services, that they’re not as much of an expert as people seem to think they are, and that it’s all going to come crashing down when everyone finds out ‘the truth.’
The first thing you should know is that this feeling is normal! It’s estimated that 70% of people suffer from Imposter Syndrome, so you’re in good company alongside some of the most successful entrepreneurs in the world. Sheryl Sandberg, the COO of Facebook told Forbes, “There are still days when I wake up feeling like a fraud, not sure I should be where I am.”
And then, you should remember your own worth. Remind yourself of your accomplishments and qualifications, read back testimonials from grateful clients whose life is not the same since you’ve helped them. Realise that the value that you bring your clients is so much more than what they could have expected and that it will enable them to receive so much more from life, that you are entitled to charge for your services accordingly.
A Business Mindset: What’s Your Money Story?
It’s also essential to work out your own inner story when it comes to money. Everyone feels differently about money, usually based on our history with finances, or how we saw our parents relate to money growing up.
If you struggle to ask for payment for your services, or if you have a hard time raising your prices or asking for exclusive pricing, then (the) chances are that you associate money with something negative.
Here are some examples of negative associations most people make with money:
Money is ‘dirty,’ so being in business means cheating people out of their hard-earned cash, or trying to scam others. In contrast, giving your services away for free, or at a reduced price is more ‘pure’ or ‘good’.
Money is only for what you need, not what you want. If you have enough to pay for what you need, you shouldn’t go looking for more. That would make you greedy, materialistic or selfish.
Money is difficult to get. It has to be earned through work that you don’t enjoy. If you love what you do, you shouldn’t be making money from it.
Some of these negative associations might sound familiar to you already. Once you recognize your own money story, you can work on changing the negative beliefs around money which are stopping you from charging what you deserve for your services, and from living the life you want to live, doing what you love.
A Shift in Mindset
None of these things can be changed overnight. How do I know? Because I myself am a purpose-driven entrepreneur and when I started out as a business mentor and an entrepreneur coach, I was so happy to be able to help others and make a difference, that it did not feel right to ask for too much money in return. Today, I understand that my services add value to the lives of the people who decide to work with me and that I am very proud to ask for high ticket value services because I know what the results will be.
Take a step back and look at what you provide to your clients. You are not a volunteer, asking for money for a selfless act of kindness. You are a business owner, smart and skilled and with a huge added value to provide. Loving your job and wanting to help others should not be stumbling blocks to asking for payment. On the contrary, they are two of the reasons why you excel at your work and deserve the money that you charge in return.
Being a purpose-driven entrepreneur means that you have unique gifts that you can give to the world and that you love making that your passion and purpose in life. In order to help as many people as possible, you need to make a conscious decision that you want to change your own negative beliefs about money and that you deserve to make as much money as possible.