Uncovering Money Blocks: Keys to Overcoming Obstacles for Women Entrepreneurs.

Hello everyone! In today's Blog, I'll go over an important topic that may be hindering your success in both business and life: money blockages.

Today I wanted to talk about this important topic, because a lot of times I've seen women doing everything, their products are very good, they have the right ideas behind the business. However, they are still struggling.

They're not really able to get success as compared to everybody else in the industry.

Understanding Money Blocks

Before we go into common money blockages and how to overcome them, let's first identify what they are.

A money block is any thinking, sensation, action, or belief that hinders your success.

These obstacles can limit your capacity to attract the necessary abundance, clients, and financial success in your business.

So these could be anything. These could be thoughts, feelings, actions, what you do, what you don't do.

Now that you're clear about what exactly a money block is, let me share with you some common money blocks that women entrepreneurs have.

Identifying Common Money Blocks

Now, let's look at some common money blocks that many women entrepreneurs face. Recognizing these blocks is the first step towards overcoming them.

1. "My clients won't pay me if I increase my prices."

I have to be honest with you. This was a money block that I even had in the beginning and initially when I started.

my coaching price was very less. And then over time once I started working on this money block, I increased my coaching fees by more than 10X and I still get clients for it.

Everybody was already telling me that you are charging a lot more than everybody else out there. you're losing out on customers.

Can I tell you the reason behind it?

There are two main reasons behind it. The first reason is that you haven't built the right brand which is attracting the right people to your business.

If you haven't built the right brand, you will always attract people who are trying to bargain with you.

who will always make you feel that you are selling too expensive.

The second reason for this is that you are not vibrating at a frequency in which you can command premium prices in your business and you yourself must be demonstrating these kinds of behaviors.

For example, you are looking for the cheapest option whenever you are buying everything.

If that is the kind of behavior that you have in your life, you will automatically attract clients and customers of the same kind who will tell you that "hey your products are already too expensive".

So that is something that you need to change.

You need to 1st build the right kind of a brand which is attracting people who have the right finances, the financial ability to buy from you.

This is a common concern that can hold you back from realizing your business's true potential.

It's crucial to address this block and understand that increasing prices doesn't necessarily mean losing clients.

Building the right brand and vibrating at a frequency that attracts clients with the financial ability to invest in your products or services is key.

2. "I have to do everything myself in my business."

Many entrepreneurs fall into the trap of believing they must handle every aspect of their business.

From manufacturing to shipping, marketing, and content creation – the burden becomes overwhelming.

However, acknowledging the need for assistance and delegating tasks is essential for business growth.

You're trying to do the manufacturing yourself, you're trying to do the shipping yourself.

You're trying to do all the marketing activities yourself. You're trying to do all the content creation, the content designing everything, and you are refusing to take help.

when you need to understand this is basic math. How many hours do you really have in a day?

You have to take care of things at home. As a woman we have so many responsibilities right?

You also have to take care of your family and the requirements of your kids and everybody and at the same time your business.

So you have to be accepting of help both in free ways and in paid terms.

I would really recommend that initially when you get started, get somebody to help you out for just maybe one or two hours a day.

You can find interns online who can help you with basic things like social media, content designing, graphic designing, sending emails on your behalf, Simple things.

You can start outsourcing. You can start delegating, it saves you time and you don't have to do everything yourself.

Please note that many times we feel that if I am not doing it myself, it's not going to be perfect.

If I outsource it to somebody else, they are not going to do it as well as I do it and this can probably be so.

I'm being honest with you. Sometimes you will not find the right people.

However, even if you don't find the right people at all times, you have to outsource it and then teach those people how to come up to your expectations, and how to increase their output as per your expectations.

USTA solution meaning that you try to do everything yourself because there's only so much that you will be able to do.

3. Neglecting Financial Tracking:

You might be suffering from that I'm not going to be tracking numbers and as a result you have no clue about your business finances.

You have no clue you are not tracking what is costing you. How much is it costing you?

At the end of the month, are you making a profit or are you making a loss? You are not tracking who has paid you. How many clients have you got?

In your mind you might feel that finances, many could be managed here. It's always my husband or my father or some other male member in the family who is looking after finances.

I don't know how to take care of finances. Please get rid of this because as a business owner you have to be very aware of all the small expenses that you are doing in your business.

Keep tracking those. You need to be very aware of What is your total income is every day.

I encourage every day you should be recording your expenses and your income.

It's crucial to be aware of your business finances. the importance of tracking income and expenses daily, dispelling the notion that financial management is mainly a male domain.

Being informed about your business's financial health is essential for making informed decisions.

4. "I don't want to invest money in my business growth."

The moment you come across an opportunity where you need to

build a website, you need to hire somebody, you need to put in, buy some tools, buy some raw material, buy some good quality packaging.

You take a step back and you feel that no, no, I don't want to do this or you will look for the cheapest option.

you need to realize if you are not ready to invest in your business because somewhere in your heart you are scared that I don't know whether my businesses will succeed or not.

To avoid risk I don't want to invest in the business or you are looking for a business which is, like a zero investment business.

Please, this is my sincere advice to you that there is no zero investment business and if you are looking at growth, you will need to constantly keep investing in your business.

because if you are not ready to invest in your business, how can you expect your customers to invest their money into your business By buying your products and services, this is not possible right?

If you don't believe in your own business, then how will you attract customers who have faith in you, who have faith in your products .

Just think about this a little deeper.Investing in your business is a key aspect of fostering growth.

Avoiding investments due to fear. the importance of believing in your business to attract customers who believe in it too.

5. Trying to Save on Essential Costs:

Cutting corners on essential costs, such as avoiding payment gateways or neglecting website development, can hinder business success.

The importance of simplifying payment processes for customers and investing in tools that contribute to business growth.

you might be suffering from trying to save on essential costs.

I know so many people out there who do not use payment gateways like Instamojo, Razorpay. Because they charge 1 to 3 percent of every transaction and as a result, all the transactions that they're doing are through Google Pay NFT.

You don't realize how many customers you are losing out on just because you have such complicated payment systems.

if you don't make it simple for your customers to pay you, you're just complicating things from them and they will not pay you.

There are other essential costs in the business like building a website. If you are trying to save money on these things, like I'll make a website later on after I'm successful.

Please understand a website is not your final destination that you do after you are successful.

It is the tool that you use to become successful

there are so many times when I recommend online tools which can really make your life so easy.

These are content writing tools, just my app. The tool itself will write content for you and I see people struggling for the Free option, though that you have to pay value if you want value in return.

Please don't have this mentality that you're trying to save up on essential costs.

If you need to upgrade your business by investing in some essential tools, investing in things like payment gateways, investing in things like a website, investing in hiring somebody, please go ahead and do that otherwise you are just stagnating.

One thing that you need to realize is that money is energy.

Money needs to flow. If you, suppress the flow of money by being a very stringent key.

If you are trying to really hold on to money like that you are, suffocating that flow of money will never really come to you.

So you have to be a little more generous and you have to change this belief, thought pattern and behavior of yourself.

6. Seeking Free Advice Despite Lack of Results:

Continuously seeking free advice without obtaining satisfactory results can be a significant money block.

Recognize your limitations, invest in acquiring necessary skills, and be open to paying for valuable advice to drive your business forward.

trying to get free advice or help even though you are not getting good results. if you had the knowledge, you would have already implemented it and got good results, right?

If you've implemented everything that and you don't have good results till now,

then somewhere That your knowledge is lacking.

Maybe you don't have that skill set right now and you need to learn that skill set.

In that scenario you can't constantly keep doing things yourself, Because you can only grow to the extent that your skill and your knowledge is beyond that you don't even know what you need to do in your business.

There is a quote, “You don't know what you don't know”.

Even though you may have tried doing everything you know and you're still not getting results

Your only answer to that is Google it watch youtube video, I can't tell you how many people reach out to me asking "Shreya, please give me advice on this."

I tell them you can join my coaching programme or if you want you can book one-on-one consultation with me.

They'll be like, "no, no, I don't want you to pay for the advice". You're going to be stuck at that very spot right there and then.

So no matter what issue that you are facing right now, please find somebody who can help you out with it and be willing to pay for that help, be willing to pay for that knowledge.

It doesn't mean that you come to me. Anybody who you resonate with, please go to that person.

But be willing to be coached. This is going to make a drastic change in your personality and this is going to make a drastic change in your business.

Conclusion

Understanding and overcoming money blocks is critical for women entrepreneurs aiming for success.

By addressing these blocks head-on and implementing strategic changes, you can unlock your business's full potential.

Remember, building the right brand and embracing assistance are key steps towards breaking free from these limitations.

These were six very essential, very common money blocks that I had wanted to share with you and I want you to identify which one of them you relate to.

Let me know in the comments below. And if you have any questions about any of these, how do you fix them? You can also ask me in the comments and I will be more than happy to help you out.

Thank you for reading! If you roll with these insights, feel free to share your thoughts in the comments below.

If you would like to learn more about how to build a business online, I do free training. Our free 90 minute training that you can join in.