Being in business is scary, but don’t let fear derail you before you’ve even started.
You might realize that some of your fears are so far in the future that you can ‘park’ them for a little while. It’s like saying, ‘Hey, Fear, you know that worry about dealing with a multimillion-dollar tax bill? Wanna come back when I’m actually a millionaire? Thanks, see you later.’ And just let it go. You can’t worry about everything at the same same time; focus on baby steps right now.
The Chillpreneur approach to fear is to recognize that you’re scared, acknowledge that it’s entirely normal, and accept that it’s inevitable, predictable, and totally figureoutable. Then, give yourself permission to be imperfect.
Millionaire Mindset Lessons
Becoming a millionaire doesn’t really make you special or clever, but the truth is to focus on some very specific mindset upgrades; these can be summed up as follows.
Mindset Lesson #1: There’s Always More Money
One way we keep ourselves small is by thinking that the world is a zero-sum game: if I win, someone else is going to lose; if I’m successful, it will be at someone else’s expense.
But that’s not true. You can do some amazing things with your wealth; there’s no limit to what you can dream; and there’s no cap on your earning potential if you’re willing to do the work necessary in your business.
Mindset Lesson #2: There Are Easier Ways to Make Money
Entrepreneur and author Seth Godin famously said, ‘When in doubt, raise money from your customers by selling them something they truly need – your product.’ Go get more clients and buy what you want.
Mindset Lesson #3: Know Thyself and Prosper
It’s about uncovering your unique superpowers and using them to create your ideal life and business. That’s the third mindset lesson to master. There’s a path of least resistance for you, and your job is to find it. How? Know thyself.
Mindset Lesson #4: A Wealthy Woman Looks Like You
If you want to open your eyes to ‘real wealth’ rather than ‘TV wealth,’ read The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley and William D. Danko. It offers an extensive study of wealthy people and identifies seven common traits. They’re not what you think! ‘Many people who live in expensive homes and drive luxury cars do not actually have much wealth,’ the authors say. ‘Many people who have a great deal of wealth do not even live in upscale neighborhoods.’4
Five Essentials for a Chillpreneur Business
There are five things that make the most significant difference in creating a profitable lifestyle-driven business.
Essential #1: Get Clear on Your Income Goal
How much money would you like to make? It’s a simple question, but often incredibly difficult for women to answer. Should you set a big stretch goal? Or be more realistic? Will you put out mixed messages to the universe if you change your income goal too often? For many women, picking a number can feel hard, and many entrepreneurs are scared to commit to a number for fear of doing it wrong or having only one shot at it. Setting goals and dreaming is free. Read that again: it doesn’t cost you anything to do it. It’s one of the most powerful manifesting tools there is, and yet we resist it for some reason.
Essential #2: Decide How You’d Like to Work
Chillpreneur philosophy is about finding the one that works for you, your preferences, and your personality. You can set up your business in virtually any way you like. Challenge assumptions about how things are done in your industry and give yourself permission to break the rules.
Essential #3: Create Passive Income Sources
Creating forms of passive (or leveraged) income means that you don’t always have to spend your personal energy to make money. You can build in a buffer, so you don’t have to take on every client, or so you can take time off when life stuff gets in the way.
Essential #4: Build a Support Team
It’s hard to be chill when you’re doing everything yourself, and it’s hard to be a leader when you’re wearing so many hats. It’s okay for you to focus on the things you like. Hiring people isn’t just nice to do – it’s often a symbolic action that opens up much more abundance for you.
Essential #5: A Home That Helps You Thrive in Business
The first two things you should outsource would be a cleaner and someone to tackle your email inbox. Neither will break the bank but will free up so much energy for you. Start small, as your budget allows, and don’t feel guilty about it – you’re building an asset that will pay for itself eventually.
Big Pricing Mistakes
Knowledge is power, and if you can recognize these mistakes when they arise, they’ll be less likely to derail you.
Mistake #1: Pricing by Committee
The worst thing you can do is ask other people what they think you should charge. It’s an innocent mistake: as women, we think we’re being inclusive, collaborative, and harnessing the wisdom of others by asking them for their opinion. But it’s a dangerous practice.
Here’s why: every time you set your prices by committee, you’re taking on other people’s beliefs around money, regardless of their qualifications, experience, or money mindset. Imagine that your money blocks are physical things – like rocks – and you have to carry them around in a backpack. Obviously, the more money blocks you have, the harder you have to work just to go about your daily life. When you crowdsource your pricing, you’re not just carrying your backpack of money blocks, you’re taking on everyone else’s too!
Mistake #2: Undercharging and Over-Delivering
You might think you’re doing people a favor by undercharging, but it rarely works out. It can lead to burnout and resentment, and you won’t have the energy and vitality you need to make a difference in the world. So, stop being cheap with yourself – it serves very few people, least of all you. You are enough. You might not believe that, yet, because it’s so deeply ingrained. But you are.
Mistake #3: Working for Free for Too Long
Now, there’s a difference between working for free and intentional volunteer work. It’s healthy and generous to build some philanthropy into your business, whether you’re giving time or money. But know the difference. Philanthropy usually feels good and has no other motive than giving back. If you’re being exploited, you’ll feel out of alignment.
Mistake #4: Taking ‘You’re Too Expensive’ Personally
You’ll have people say no to your very reasonable quote because they ‘can’t afford it’ and then see them spend money on something totally ridiculous the next week. It’s not your business what people value or spend money on, and you don’t have to change your pricing to meet their financial expectations. It’s just a mismatch of budget, money mindset, or values – not a moral failing on your part. Your pricing is not a literal translation of your value as a human being. Money is just money. A price is just a price.
Give It Time to Unfold
Chill out. You don’t have to write all the books you want to write this year, you don’t have to go to all the conferences right away, and you don’t have to reserve all the domain names yet. There’s time. Be discerning. Some things are more urgent than others and, if you’re in business for the long haul, you have to respect the seasons of your life.
If you want to create a real legacy, your journey has to be sustainable. Being an entrepreneur is like always having an urgent assignment due. You feel guilty if you’re not working on your latest project, and there’s never a time when you feel ‘done.’ The next assignment is always due, so you have to pace yourself.
It’s okay to park some dreams for ‘one day.’