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Be Unashamed To Desire (& Make) More Money As An Entrepreneur

Updated: May 6


 

Article Summary

Have you ever felt ashamed of wanting to make more money? If so, this article is for you! My guest, Laura Sinclair, captured my attention quickly when I saw this on her website: "be unashamed to desire more money". I invited her onto the show ASAP so we could dig a little deeper into this topic in hopes that you walk away feeling more confident in your aspirations because in order to make a bigger impact, you'll need to push through this discomfort.


Takeaways

  • Take risks and have the confidence to figure things out along the way.

  • Be unashamed about the desire to make money and price services based on their worth.

  • Address and overcome shame and negative beliefs surrounding money.

  • Practice open communication in navigating money dynamics within relationships.


**This was also a podcast episode (episode #240). If you'd like to listen to this conversation, use the link below.



Ep. 240: [Laura Sinclair] It's Okay To Desire (& Make) More Money


 

Your Money Story As An Entrepreneur


"Over time as I worked with more women, there was this shame story that I was seeing coming up over and over and over again around selling, around making money or making too much money. What does that mean about me if I make money?" - Laura Sinclair


"I think money in the hands of women is the best thing ever. And so for me, I think it's on there because I want to help women make money. I want to help women do a lot of things. But at the core, allowing women to make money allows them to create really incredible impact in the world. It allows them to build a life that they desire for their families, maybe a completely different life than what they had growing up." - Laura Sinclair


"I know that we want to help people. However, in order to do that, you have to make money in your business or you just have an expensive hobby." - Amanda McKinney


"And I think for a lot of us, it is this like, there's this, it's this greediness. If you make a lot of money, you're a bad person. And for me, I love donating money. I love creating impact. I love investing in other people's businesses. I love, you know, taking my kids to have experiences that I didn't have growing up. Um, all of those things, and none of that would be possible. If I didn't make the money that I make." - Laura Sinclair


Re-Write Your Money Story

"Having money, not having money, none of it means anything about who I am inherently. It's just it allows me to create greater impact, a greater ripple effect in this world." - Laura Sinclair


Pink piggie-bank on top of a calculator

Pricing Your Services Based On Value, Not Time

"In our businesses where we, you know, don't charge what we should be charging for something, because we're like just trying to be nice or whatever the story is, or we feel badly about it." - Laura Sinclair


Two things happen when you don't charge what your services are worth:


  1. You don't make the money in your business, your business stops being sustainable, and then you cannot continue to make that impact and their mission fails for lack of a better word

  2. You start to actually resent your work. And so you don't receive what you should be receiving for the work that you're doing. Resentment starts to build up and then the work that you do actually starts to slip.


"Yes, you want to help people, but you have to be compensated for your work." - Laura Sinclair


Your Capacity Can Help You Understand How To Make More Money

"For me, I have two little kids. I have a six-year-old and I have a three-year-old. And I'm also an introvert. And so my energy is actually really limited. And so I had to take a moment where I had to almost time audit my own energy and to identify where in my life actually requires the most energy." - Laura Sinclair


"My children require energy. I don't get to turn that off, my kids need me and so does my business. So for me, when I started to think about my pricing, I mean, there's a lot of what I do that is not accessible for the average person, for a very early stage entrepreneur. I am expensive and I'm expensive because my time is so limited." - Laura Sinclair


"In order for me to have a scalable business, I can't charge $100 an hour if I know that I'm only really able to be present four hours a day that I can be on mentorship calls, and then I have to save the rest of that energy for my kids." - Laura Sinclair


"I wish that I could help more early, early stage entrepreneurs. I have so much heart for women, mom entrepreneurs, just trying to figure it out, and they don't have the money, they have the idea, they can't invest in anything. And so I have lots of free things that I've created. I do a free bi-weekly community connection call every other Tuesday at 10 a.m. where women can come and get free business help." - Laura Sinclair


If this is where you find yourself, ask yourself what Laura asked herself:

"I want to make X amount of dollars in my business, but I know deep down that I can really only deliver four hours. What type of offering can I create that aligns with this need and price it accordingly?" - Laura Sinclair


The Actual Value Of Your Services As An Entrepreneur


"I'm a mentor or a consultant and a consultant. So people pay me typically for my time, right? But they're not just buying an hour, right? They're also buying my 20 years of work in this field. They're buying my 10 years of entrepreneurship, every single mistake that I've made, every training, every lesson. It's not just, hey, it's an hour of my time. It's like, no, this is all of my experience, top to bottom, my entire business model, if you would like it." - Laura Sinclair


"It's what's the work worth? I don't care if it takes you 20 minutes because you're so efficient and experienced at it, you shouldn't be charging for 20 minutes. You're charging for what that work is actually worth." - Laura Sinclair


Take Away Message / Action


Be bold and declare a number to yourself today. What amount of money would feel GREAT for you to make this year? Once you have that number, be sure to write it down and look at it every day so it stays top of mind. But also, do some capacity math to figure out how to get to that number. Identify how many hours in a day or week do you have to dedicate to your business and then work backwards to figure out how you can get there. It could be several offerings or you can focus on one. The key is to price your offering based on the value, not just your time.


Remember, money in the hands of good people, does great things and I'd love for your hands to be filled with whatever enough is for you. Until next time give yourself permission to desire more money and grace along the way. I'll talk to you soon.



About Laura:

Laura Sinclair believes that you and your business deserve to be seen, and has made it her mission to support female entrepreneurs in their quest to build a life by design. With over a decade of experience building digital marketing strategies for some of the world’s biggest brands, Laura now teaches ambitious women and mothers how to adapt the strategies of fortune 500s for their own businesses – empowering them to step into their inner CEO along the way. A mother of two, Laura is a Marketing and Business Mentor for ambitious mothers and CEO of the boutique social media marketing agency, The LJ Social Agency and the host of This Mother Means Business podcast.


Laura's Links:



Other Resources:



Ep. 240: [Laura Sinclair] It's Okay To Desire (& Make) More Money

"Yes, you want to help people, but you have to be compensated for your work."


- Laura Sinclair











 

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