Does talking about money give you the ick?

If you were a hell yeah to that statement you are not alone!?

A recent survey found that 42% of people finding money the most difficult thing to talk about ahead of religion (40%), sex (38%), and politics (23%) (finder.com.au).

But as a result many a newbie consultant (and even those who have been doing this for a long time - ahem) can fall foul of the money gremlins.? And that can be a really big problem.??

If you want your consulting career to be a long running, sustainable and profitable one you need to beat those gremlins.

But in order to beat them first we need to figure out where they come from

1. Imposter syndrome

That old chestnut.? That’s the little voice telling you that if you discuss price and a potential client tells you it’s too high it’s because you're not good at your job and what you do doesn’t have the value you think it does.? In fact, if you get told this you might as well get your coat and head back to corporate.? Sound familiar???

I remember when once in the same week I quoted the same service to two potential clients, exactly the same price.? Both came back saying they were shocked at the price.? The difference was that one thought it was unreasonably high and out of step with the market, the other one came back to recheck the price because it seemed too low, EXACTLY the same price.? But one client valued what was being offered the other didn’t.? BTW this is why identifying your ideal client is so important.

Remember that story next time someone balks at the price.

2. Will they think I’m greedy?

I mean heaven forbid you should want to put food on the table, pay your rent/mortgage and all the other things, AND have money left over.

You’re not being greedy by pricing your services at a level that is sustainable for your business.?

You are a business, you’re supposed to be making a profit.

3. Talking about money is crass

This one is so hard because it’s an emotional response that often gets ingrained at a very early age.? There used to be so much social stigma around discussing salaries (it’s illegal to ban employees from discussing salary now - in case you weren’t aware) or personal finances and for many people it still feels inappropriate or impolite.? And unfortunately, this can carry over to business discussions.

4. Not being confident in your own financial skills

If you’re not sure you’ve calculated your pricing right or aren’t feeling confident in your numbers it’s understandable to feel thrown if someone queries you.

So how to you combat all of this?

Exposure therapy!

Sometimes the only way is through.? It might take you time to become comfortable talking about money but the more you do it the less uncomfortable it will be.? Focus on why you started the business and your purpose in making it work.?The discomfort will be outweighed by the purpose and over time it will get easier.

Improve your financial literacy and confidence in numbers

For a lot of new consultants finances are not part of their core role in corporate so improving financial literacy needs to be a priority.? In the same way most senior roles in corporate need to have oversight of their P&L, it’s the same (more so!) in your own business.???

Seek out support, get coaching where you need it, and educate yourself.? And the added bonus, financial literacy is such a core life skill that your personal finances will thank you for it also.

Have an out-of-body experience

I talked about this in my last email when I was discussing sales.? If it makes it easier, and less personal, when you’re talking about money channel your kick-ass money confident alter ego.? I promise - it works!

But whatever you do don’t avoid the issue because……?

Money messing with your mind = Mind messing with your money