Is Holding Three Months’ Worth of Overheads enough to Mitigate the Small Business from Risk?

Finance is one aspect of running a coaching business. In today’s guest post finance expert Hayley Chiba shares some of her expertise of working with small business and entrepreneurs.

Is Holding Three Months’ Worth of Overheads enough to Mitigate the Small Business from Risk?

By Hayley Chiba

"Is Holding Three Months’ Worth of Overheads enough to Mitigate the Small Business from Risk?" by Hayley Chiba

Business coaches and consultants often advise a small business, to always aim to hold 3 months’ worth of their overhead costs. This is to mitigate the risk of some down turn in the business.

In fact, this could apply to any unforeseen event occurring, where this meant the business were unable to generate sufficient sales to cover their fixed costs.

As a business coach, overall this is a good metric to have, but I was recently asked this question by a business owner. He still didn’t feel assured and satisfied that he had risk covered. If a business coach is to provide a valuable metric to his business owner client maybe a fuller dialogue is needed. As we know, better discussions with our clients can often lead to longevity and trust from your clients, as it gives you the opportunity to demonstrate your deeper value to your clients.

The problem is, that using an arbitrary figure like this, does not really relate directly to the specific level of risk that the business is facing.

Using this measure is fine if it relates to a business with low growth. Also, if it has a foreseeable pipeline of sales and a good insight into future potential environmental factors which may affect the business.

Just concentrating on holding a reserve only buys time, actually 3 months in this case.  You need to consider, if there were an unforeseen event, how would that impact on the business financially?  An unforeseen event may be the loss of a major customer, change in law or perhaps the loss of a key employee. Having considered this, how long would the business need, to put in place an alternative plan? Furthermore, how long would it take for “business as usual” to resume?  This then leads us to think that we may need a much longer period of time, perhaps more like 6 months. As well as thinking about the amount of time the business needs to recover, we also want to consider if the business owner is actually looking to change something about the business.

Specifically, if they are thinking about undertaking a significant investment to grow the business. In this case the potential risk will rise as the return from the investment into growth activity is still to be proven.  Spending out on more investment for growth will, in the short term, lower the profit margins and available cash. This can feel daunting especially when the business owner realises their current healthy profit margin is going to be eroded and in fact with it, any cash reserves they have built up.

So, I always recommend that in this case, further projections should be made. This will give the business owner the peace of mind that eventually, he is going to see the results he is anticipating. More importantly though, having some sort of forecast of what he expects to happen and measuring against this, every month, will flag quickly to him, where the plans are not playing out the way he was expecting. This will give him sufficient time to look at this, think of the actions he needs to take and make the necessary adjustments to his action plans to try to bring his results back on track.

The key report required to help give visibility on whether the new investment is viable is the Cash Flow Forecast.

I always suggest starting with the current situation and financial shape. Hence at this point it is crucial you understand your current position in terms of some key components.

  1. What is the current Sales Projection based on hard data? We can all dream, but sales forecasts should be based on some credible extrapolation of the past or last year’s actual data achieved.
  2. What are the current profit margins and specifically what is the gross profit margin? Gross profit margin being sales less direct costs.
  3. What are the overheads and what is the average run rate for the overheads? Overheads will naturally fluctuate due to the timing of supplier invoices. Marketing, administration, repairs and travel are good examples of this type of spend. They reflect areas where the timing of spend is discretionary and not fixed as a monthly fee. Breaking out spend where there is some flexibility on when to spend, gives a view of what overheads are absolutely fixed and have to be covered month on month.

So, armed with these 3 areas of information, you should be fine now to create a time based cash flow forecast. Not you of course, the bookkeeper or the business owner himself!

This forecast should be drawn up as a monthly forecast, (or even weekly depending on the nature of the investment spend). Plot it forward until the point when you expect the business to be seeing the benefit from the investment. This is often longer than you realise. The cash flow forecast should show the benefits materialising, which take the business to the next level. Ensure that the forecast covers this full time span. Many business owners stop short of this point. They only project across the time of when the spend is actually taking place. You need to see what happens to the business shape post the spend. You want to see if and when the business shape returns or even improves versus its original shape. This will often result in a forecast for at least 1 to 2 years out.

Having created the forecast, the most crucial action is to measure against this monthly. Failure to do this, may mean that the forecast is not delivered. You will need a flag to alert where and when the business   moves off-track. Ensure that there is a consistent and methodical tracking of the key components of this cash flow forecast.

Planning and then measuring, will help to confirm if the growth investment decision was the right decision. Where it is proving not to be, this early warning flag should give sufficient time to plan how to mitigate these costs by stopping the things that are not working and reinvesting in other areas.

Protecting the business pot of cash is as important as building that pot of cash, whether it relates to 3, 6 or 12 months’ worth of overheads. If you can advise him fully by including these additional necessary steps where appropriate, you will ensure that the business owners hard earned cash is not eroded.

That’s something I’m sure he will certainly thank you for!

About Hayley Chiba

Hayley Chiba


Hayley Chiba is a qualified Financial Controller working with small businesses. She runs her own business, Better Numbers Limited, which provides one to one Financial consulting to £1m + growing businesses in the Bristol, UK area.

She also provides Financial coaching to Entrepreneurs, Home Business Owners and Start-ups via her Ecourses. She dedicated to helping small businesses grow through increasing their personal and business financial awareness.



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Twitter: @betternumbers1




Do You Have to Have Money to Make a Difference?

Many people enter the coaching profession wanting to make a difference and often have lots and lots of thinking and beliefs about the topic of  “money”.

In today’s guest post Bonnie Hurd Smith shares some historical examples she finds inspiring and compelling to answer the question:

Do You Have to Have Money to Make a Difference?

By Bonnie Hurd Smith

"Do You Have to Have Money to Make a Difference?" By Bonnie Hurd Smith

I was recently asked this question after a talk I gave for a group of Girl Scouts who were visiting Eastern Massachusetts, including Salem. Several years ago I created the Salem Women’s Heritage Trail, so I was asked to highlight some of the women on the trail for our smart and enthusiastic young visitors. I told them about Salem authors, publishers, teachers, philanthropists, reformers (abolitionists, suffragists), artists, founders of social service organizations… it’s a long and impressive list.

And then, Q & A.

“Do I have to have money to make a difference?” one girl asked.

I realized I had not made the point that, NO, YOU DON’T!

In fact, I replied, it’s the women who did NOT have a lot of money whose stories I find particularly compelling and inspiring. How did they achieve what they did against obstacles we can’t even imagine today? What were their strategies and tactics? What was their background? What motivated them? How did they come to believe in themselves?

Answers to these questions are what I have attempted to provide in my talks and Unitarian Universalist sermons over the years, because history is a living energy. We can draw on women’s wisdom from the ages to enlighten us today, especially when we find role models who faced some the same challenges we do-including not having a lot of money.

In Massachusetts women’s history alone I think about Phillis Wheatley, who was kidnapped from Africa as a little girl, brought to Boston where she was “sold” to the Wheatley family, and eventually became the first published African American poet.

Louisa May Alcott comes to mind as well, whose father was notoriously unable to make money. Through her pen and her imagination, Louisa became the most successful and famous woman writer of her day-and she supported her family! And she always insisted that women be paid what men are paid.

I remember Margaret Fuller, who spent about a year and a half living with friends and relatives as she could not afford her own home. She became the first woman literary editor of a national newspaper; an unparalleled reporter in the United States in Europe; the first female foreign correspondent (in Italy); and the author of Woman in the Nineteenth Century, a landmark book in the history of women’s rights.

And so, you do NOT have to have a lot of money to make a difference. What you DO have to have is a rock-solid belief in your abilities, wherever that comes from; a strong support system (which means ditching the people who do not support you); and the ability to spot or create opportunities and go after them-and to keep going!

Having said all of this, you do need money. You need money to survive and thrive, and you DESERVE to have money. As one of my coaches always says, “You can’t be of service to anyone if you’re broke and homeless.”

She’s right, and since being of service is our highest calling in life we really need to think about this truism-and to be of service to ourselves first!

Money is also a lubricant. It helps you get things done, including publishing your own book or investing in your own business!

We were all raised with the lingering Puritan notion that money is bad-that money is the “root of all evil.” This is a lie, and it’s one way that people, especially women, are kept down. Instead of focusing on the LACK of what you have, focus on what you DO have. You DO have your talents and your reason for being here. With the right support system-people, faith, whatever you need-the money will come because you deserve to be rewarded for using your gifts! And you will use it to help others.

I always learn something from my audiences, and I will keep this Girl Scout’s question in mind for future talks.

I did not have the chance to find out her name, but whoever you are, thank you for the question and keep them coming!

About Bonnie Hurd Smith

Bonnie Hurd Smith has been writing and speaking about women’s history for over 20 years. She is particularly known for being able to “connect the dots,” with passion, between history and how it can inform, inspire, and assist us today. Her most recent book is “We Believe in You: 12 Stories of Courage, Action, and Faith for Women and Girls.”

Bonnie is also a lay leader in the Unitarian Universalist church. She has led numerous inspirational services on Judith Sargent Murray (18th-century Universalist), Margaret Fuller (19th-century Unitarian), and Elizabeth Peabody (19th-century Unitarian).

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Article Source: Do You Have to Have Money to Make a Difference?

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Discover The 6 Figure Coach Myth

In today’s guest post Freedom Business Coach Rachel Henke shares some of her expertise as she discusses something she’s observed:

Discover The 6 Figure Coach Myth

By Rachel Henke

"Discover The 6 Figure Coach Myth" by Rachel Henke

Everywhere I click lately people seem to be promising to teach how to hit 6 figures in your coaching business. You’ve probably noticed it yourself and had one of two reactions:

  • “Only 6 figures? I hit that years ago. What’s the big deal? I’m ready to hit 7” OR
  • “6 figures? Are you kidding me? If someone would just show me how to hit 6 figures I’d be over the moon and happy forever.

And here’s the other thing I’ve noticed.

The coaches who’ve already hit 6 figures still have problems or what look like  problems to them but let’s be honest here; they’re not going hungry.

And the coaches who feel desperate to hit the 6 figures also have problems or what look like problems to them too …

And perhaps they are struggling with the financials more than the first group but they’re usually not going hungry either.
So as I develop my coaching business and my understanding of what I want and what I can help my clients achieve, I experienced an insight which rocked my world.

Whether you’re at 6 figures and beyond, or yearning and striving to reach the infamous 6 figures, has little connection with how happy you feel each day.

Yes, it’s true that since I jumped off what I call my 10 year cash roller coaster, I’m able to have more of the experiences I want that I pay for with money, but I notice I still face some of the same old problems.

They just look different and show up in a different way.  It was actually quite surprising because in my first business model I can see quite clearly that I lived in the future.

‘When I reach xxx I will be so happy.’

‘When I help someone reach xxx we will both be so fulfilled.’

‘When I reach that level my problems will be over.’

‘When we can have our dream holiday it will be amazing.’

Now it’s important I’m clear about something here. I’m not saying that money can’t boost your happiness because in my experience it really can.

When I say yes to my kids rather than no to something ‘expensive’ that I want to say yes to, that makes me very happy… at least in that moment.

When I just booked our dream holiday it made all of my family, including me, very happy.

So I’m not going to become one of those guys who tells you that money isn’t important because in a physical world I think that’s just silly.

BUT it is interesting to notice how our happiness comes from the inside in the same way that the horrible feeling of worry does too.  And whether you are dreaming of 6 figures or are way beyond it, I’m betting that you still feel like you have some problems sometimes.

For example, I’ve realised that if you’re in the habit of worrying about money which so many people are, it’s just as likely that you will still worry about money even when you have a bigger flow coming in. How crazy is that?

You’ll just worry about different things such as taxes, what to invest in and how to manage your money.

I didn’t get this before but now I can see clearly that worrying is just a habit and whether you worry about whether you’re good enough to hit six figures or how you handle your business now  you have it, the worrying can feel curiously the same.

If you want to go deeper on this, your challenge today is to ask yourself a couple of questions:

question mark small 1) Why is it important to you to create or maintain a 6 figure business?

If it’s just because everyone talks about it and it feels like a sexy number then I’d encourage you to have a think about what you really want to create and why.

question mark small 2) How much of your 6 figures do you actually get to keep with your current business model?

Let’s face it, 6 figures is a nice number presuming it’s 6 figures in a solid currency, but if most of it goes back out the door again, then what’s the point?  I had a business like that for years and it was exhausting.

question mark small 3) How many hours do you have to spend travelling, preparing, delivering, marketing and generating new clients just to keep your business going?

If you’re so burned out from running your 6 figure business then your business is pretty much running you.

At the end of the day, as conscious entrepreneurs and coaches I believe we’re driven by the impact we can create but please don’t forget to make that impact on your own life too.

I hope this was helpful for you. Please share on your favourite social media and let me know what you think.

About Rachel Henke 

Rachel HenkeRachel Henke is the bestselling author of “The Niche Expert” – Harness the power of the internet to attract perfect clients, publicity & opportunities, and she is the Freedom Business Coach to thousands around the world via her Marketing & Mindset ezine and podcast.

Rachel is the founder of which offers virtual coaching & simple online marketing systems for entrepreneurial experts to boost their expert factor with a magnetic brand whilst creating a life of freedom, purpose and profits.

‘Breaking free’ of the corporate world upon relocating to a sleepy village in the UK after living in Jerusalem for many years, she started her first home based business working a couple of hours a day from the breakfast bar round her two young daughters back in 2003 and has never looked back.

Several years later, tired of being out of the house & away from her children so much, she turned to the internet & social media to attract a global following and became what she now calls a ‘freedom coach.’

An in demand online marketing, personal branding expert and published author, Rachel has been featured on BBC Radio, Association for Coaching, International Coach Federation and other international media.

Claim Your Free Training & Discover The Secret Formula To Attract An Abundant Flow Of Perfect Premium, Clients Who Value Your Expertise & Want What You’re Selling:

Does This Fear Inhibit Your Business?

In this weeks guest post Adele Michal shares some of her experience and knowledge gained from working with women entrepreneurs.

Does This Fear Inhibit Your Business?

By Adele Michal

"Does This Fear Inhibit Your Business?" by Adele Michal

Do you ever wonder why so many mission-driven entrepreneurs find getting really clear on what they offer and how to talk about it to prospective clients so difficult?

FEAR plagues many women entrepreneurs who want to make a difference. Fear has many faces. I’ll talk about several of them here in the next few weeks.

Naming fears and clearing them out of your system is the BEST WAY for you to get clear on what services you offer in your business so that you develop ease enrolling your ideal clients.

Let’s talk about one fear that may be affecting you and your business without your knowing it so that you can address and change it.

The FEAR of doing it WRONG!

If you are like most women in business, you fear:

  • messing up,
  • not being perfect, and
  • not knowing how to respond to a new situation or challenge.

Many men do not have this fear and in fact, are quite confident that they can do things they’ve never done before or been trained to do.

In contrast, many very capable women resist trying something new and instead seek another certification or more training so they are sure to be able to handle what might come up.

As you can imagine, fear of doing “it” wrong keeps many service-based entrepreneurs from getting clear on exactly what they offer, how it benefits their clients, and how valuable it is.

Many of us were raised to be “good girls” and want to please the people who are important to us. Caring about others is what we do as women, but in business we can carry it too far.

Let’s look at a way to address the Fear of Doing It Wrong:

Ask yourself where in your business and offerings you are trying to please someone besides yourself.

  • Do you discount your prices?
  • Do you stay unclear about your services and offers so that no one knows exactly what you do?
  • Do you do too many trades or complimentary sessions?

(** See my note below)

Behind all of these actions is a fear of not pleasing someone who matters to you. Ask yourself:

question mark smallWho is that person?

question mark smallWhat would s/he say if you tried something new or bold?

question mark smallHow would s/he respond if you did something wrong?

As you come up with your answers to these questions, imagine a different response than fear.

question mark smallCould you laugh at yourself for thinking that anyone would really want less than the best for you?

question mark smallCan you release some of the fear by breathing it out and give yourself some freedom to move forward another step?

question mark smallHow about giving yourself a Free Pass from Perfection for the next 30 days? Intend to do it wrong. Let yourself learn. You can perfect it later and the world will not fall apart.

It is critical to you and your business that you name, face, and disable your fear of Doing It Wrong. If you’re not clearly sharing your work and gifts with the people you are meant to help, they cannot get the benefit of working with you. And that is a shame.

Life and business are messy. There’s no such thing as perfection. Doing is better than perfect. We’ll all survive if you don’t get it right this time. Next time you’ll know how to make it better.

I invite you to disengage from your Fear of Doing It Wrong this month. Please let me know how it goes for you. You may be surprised at how much you like the freedom to learn by doing.

** When you’re first starting your practice or service business, it’s good to do a few no cost or low-cost sessions to get experience and clarity about who you like to work with. It’s also sometimes appropriate to do a trade with someone whose work you really value and want. And it’s surely good to give pro-bono work to someone who can’t afford your fees at this time.

But if you are not charging, not charging enough, or doing a lot of trades, you are sabotaging your business, not giving your clients an opportunity to invest in themselves, and telling yourself subconsciously that what you do is not valuable.

This is a dangerous trend and does not serve you or your clients. Look at what you are afraid of and summon up the courage to face it. I promise it will be rewarding.

About Adele Michal

Adele MichalAdele Michal helps entrepreneurs and small business owners help more people and make more money by teaching them how to sell authentically instead fearing sales.

Adele is the creator of Peak State Selling™ Process. She works with individual clients and leads training courses on Selling Without Fear™. She focuses her work on helping her clients enhance their performance in authentic selling by using simple mind/body practices that create confidence, certainty, and charisma in every situation.

To receive Adele’s Free Gift, End Your Money Worries: 3 Simple Steps to Stop Squashing Your Income & Start Making More Money! go to


Article Source:Does This Fear Inhibit Your Business?

Article expert page: Adele Michal

Coaches and Money: 7 breakthroughs to help the money flow in 2015

In the first guest post of the new year money coach Helen Collier focuses upon:

Coaches and Money:

7 breakthroughs to help the money flow in 2015.

By Helen Collier

"Coaches and Money 7 breakthroughs to help the money flow in 2015." BY Helen Collier

My MacAfee Vulnerability Scanner has just popped up and told me it has found two new programme updates I need to install to keep my laptop running optimally.

How useful would it be if we had the equivalent of an internal money vulnerability scanner, that automatically scanned every 24 hours? Installed to spot what needs up dating and what needs binning to keep ourselves and our money life running optimally? More importantly it then goes on to make the necessary changes to get us back in tip top condition.

In the absence of our own personal ‘app’ it’s down to us to hone our own ability to look both internally and externally at ourselves and adjust as necessary.

2014 has been a year of big breakthroughs for me personally. Looking back I see how I have been scanning my installed money mind-set as I prepared to take my money coaching practice to the next level of success. Some of it is new learning, other parts simply deeper learning and some of it came with the ‘Durr!!’ moment. ‘How have I not seen these things!!?!’

7 breakthroughs to help the money flow.  In no particular order.

  1. This year I have had many conversations with women who outwardly ooze confidence and composure and yet underneath they were squirming with dread and embarrassment about money. Suddenly there was my niche right in front of me, these very women. In fact they had been there all the time but I simply hadn’t seen them. Since discovering this niche I’m focused and my client list has increased. I know who I am talking to when I write, when I am out giving talks, when I go out networking.



Action: Find your Niche


  1. Find those things that keep you stuck. What are those big beliefs and assumptions that keep you stuck? I’ve discovered some great material this year developed by Keegan and Lahy called ‘Immunity to Change’ It provides a great structure for understanding why sometimes our best intentioned progress is held back almost by having the foot on the brake at the same time as trying to accelerate.   It’s one I knew well. It described my resistance perfectly. A belief that went something like. ‘I have to resist because if I don’t I’m going to lose control then something (unspecified) really bad will happen.’  The thing is this resistance in itself was very generalised and it was preventing my money flowing.



Action: Find those big beliefs and assumptions that keep you stuck and test them for accuracy


  1. It’s important to pay attention to the practical side of money in your business. I’ve always known this, I don’t always do it but this year I’ve put some really simple systems in place that have helped me easily stay in control of my cash flow. I know when it comes to doing my tax return next week I’ve got everything I need at hand to do it. Andi Lonnen has just published a great little book called ‘Be fabulous at Finance’ which is well worth buying.



Action: Pay attention to the practical side of money in your business.


  1. Getting down to your own deep layers of assumptions is like peeling the layers of an onion; it may well come with tears but that’s when you know you’ve hit on something and if you keep peeling you eventually get to the sweet spot. I’ve long known that I am the mistress of creating a smoke screen. Setting up elaborate psychological screens to prevent me from doing that which I say I want to do. This year I have finally outed a real big one for me. I’ve not got to the sweet spot yet. ‘If I make a success of my business then I will be exposed as a fraud’ is sitting on my desk as I work. I do cringe as I type. It throws up the one Brene Brown has been talking about, vulnerability. What will people think? What will people say when they hear this? This though is what my clients experience when they take that first step to talking about themselves and their money. I owe it to my clients to continue working through my own personal money issues so that I can be cleaner and clearer in my interactions with them



Action: Be prepared to feel vulnerable in order to be in a clearer, cleaner place for your clients


  1. Writing as a way of gaining understanding, clarity and perspective. I encourage my clients to keep a journal in order to explore their relationship with money and keep track of their progress. My own writing this year has taken on a whole new perspective as I have explored my own spirituality and where money fits into this picture. It’s been sumptuous spilling my innermost thoughts onto paper. I have created a module on money journaling for clients and included topics for exploration.



Action: Consider using journaling as a tool to help you understand your own money life and to help you make peace with your own money story.


  1. I finally asked for help. I had a huge assumption running through me that said ‘I should be able to do this. I am supposed to be the expert, if I ask for help people will think I’m a fraud’ (notice that fraud thing popping up again!). It kept me quietly and privately battling with my own demons. It also kept me very safely and frustratingly going around in circles. I’ve engaged a business coach. She’s very different from me and has a very different style but she has helped to plug a gap and has helped me to keep focused on moving forward in my business. Crazy as it now seems I imagined she was going to laugh at me and criticise me when in fact she said ‘Helen, what is stopping you, this sounds great!’ Hugely motivating.



Action: Don’t be afraid to ask for the help that you need to move your business forward


  1. My biggest breakthrough of the year has undoubtedly been completing my 60th year on the planet, getting grand parented for the first time and discovering that both these are huge blessings rather than things to be feared! Bizarrely it has given me more focus in my business. I concentrate better. I don’t spend as much time drifting into the cyber world and amazingly have more time! Which means that when I am with my granddaughter I am truly with her, not thinking I should be doing something else.



Action: Concentrate on the here and now and count your blessings.


Here’s to a prosperous and peaceful 2015.


About Helen Collier

Helen Collier is a money coach working with bright, smart women who are tired of squirming with dread and fear about their money. She trained with the Money Coaching Institute in California. Helen developed Harmoney as a direct response to her growing disquiet that something was out of balance in the financial world. She set an intention to play her part by supporting people to put money in its rightful place in their lives, no more, no less. Helen writes a weekly column for the Yorkshire Evening News and blogs regularly.

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How To Get Paid What You Ask For

In today’s guest post Ling Wong shares her expertise and knowledge as she focusess on the topic of being paid for your coaching:

How To Get Paid What You Ask For

by Ling Wong

"How To Get Paid What You Ask For" by Ling Wong

We have been told to raise our fees. We have been told to create high-end coaching programs instead of taking clients on a monthly basis. We might even been shown how to structure and price these programs.

All good – the question is, after all the pricing and program designing, are you actually asking for the money and getting PAID what you ask for? If not, all those trainings, pricing and program design are just intellectual exercises… and you may still be constantly discounting, undercharging, over-delivering or even giving away services for free (ever done “I am just going to throw this in”?)

When it comes time to talk coaching fees, many coaches get sucked into their potential clients’ money stories. Coaches, who generally are quite sensitive to other people’s feelings (aka, empathic), have the tendency to short-change themselves in an attempt to make everyone happy.

If you want to get paid what you ask for, you have to be mindful not to get sucked into your potential clients’ money stories, and not to let you own preconception and judgement give charge to the conversation. (Remember, money is neutral – it’s just paper in your wallet or numbers in your bank account – until you give it meaning!)

Regardless of your area of expertise, your clients come to you to make improvements, to get to a better version of themselves through your services. You are there to hold that space, that higher vision, for them so they can step into it.

If you are buying into their stories, you are encouraging them to stay stuck in where they are. If you let them wallow in their stories, you are encouraging a victim mindset that is not conducive to them taking charge and making changes to their lives.

All the coaches I know do want to get paid what they ask for (of course!) The problem happens during the money talk moment of the sales conversation… the subconscious mind kicks in with its fears and doubts, its needs to be accepted and its misguided urge to “make everyone happy.” Without thinking, these coaches would shortchange themselves and then after it’s all said and done, bang their heads on the wall and beat themselves up wondering why the heck were they doing it again.

If you have given in to these stories in the past, I highly recommend you write down a guideline for yourself on what is acceptable, and stick with it. You may even want to explore some scenarios and script out your response.

Having an empowered voice and a healthy boundary around money are also essential in helping you get what you ask for.

When we give away our power around money, it usually reflects something deeper. Most commonly, it reflects Fears of rejection, not being approved of, losing love, not being liked, being judged, or ending up with nothing.

We have a tendency to tie all these to whether people agree to work with us by giving us money. In a way, having people to pay us money, even if it’s not what we ask for, is better than getting nothing because in a way, it is some sort of validation or approval.

First of all, we need to undo these ties, associations and incorrect causality between our sense of self-worth and whether people are paying us for our products or services. In fact, I challenge the often used, almost-cliché phrase “charge what you are worth” because it really makes us believe what we charge is a direct reflection of our worth – which, of course, is not true. (Read this post for more on this.)

After you have figured out what the underlying fear you have behind giving away your power in your money conversation, ask yourself – what if being afraid of X is no longer important to you? How would you feel, what would you say and what action would you take? How would doing these change your business and your life?

What is more important, being afraid of X, or being empowered to get what you really want in life?

Last, but not least, pay attention to your boundaries. Having healthy and firm money boundary can help you sell with integrity. In my opinion, giving in to the money story of one client is not only a disservice to you, but also unfair to your other clients who are actually paying you for what your products and services are worth.

Most often than not, leaky money boundaries can be traced back to negative beliefs about money. Look back at all the circumstances in which you held a poor boundary, and ask yourself what negative belief about money do you have to release in order to make a positive impact with that situation? And, if money were sacred to you in that situation, how would you treat and value it?

About Ling Wong

Ling offers “Business Soulwork + Marketing Activation For Coaches” that embodies her “Heart & Guts” approach. She helps coaches supercharge their actions not only through smart strategies and practical tools, but also through their personal growth and development – so they not only grow their business, but also LET THEIR BUSINESS GROW THEM. Through her “left brain meets right brain” approach, she helps her clients uncover their truth and tap into their intuition, then ground those light bulb moments with practical strategies and marketing tactics to build a profitable and sustainable business that is a full expression of themselves. She firmly believes that all of us can fully express ourselves and our full potential through our businesses.

You can find Ling and download her free “Reignite Your Fire” Soul-Bomb session at or contact her at ling [at] business-soulwork [dot] com.

Sacred Money, Sacred Life Transformational Exercise

In today’s guest post coach Debra Larson shares an exercise, complete with a worksheet that you can download at the bottom of this post, and a free gift.

Sacred Money, Sacred Life Transformational Exercise

By Debra Larson

"Sacred Money, Sacred Life Transformational Exercise" by Debra Larson

Most people, I really believe, are living their life not feeling fulfilled or as if they’re living on purpose. I think you probably all agree with me. Look around. That’s what you see. Maybe you’ve even felt that yourself in the past. I know I have.

That’s why I got into business for myself. I was feeling really unfulfilled and like I wasn’t living my purpose. I also felt like my future was being left up to someone else. If any of you have connected with my story on my website, you’ll know and understand that at the point that Eric and I lost everything that I had made a decision if that should ever happen again, I’d be able to rebuild quickly and I’d love doing it. Big difference, right? I’d actually know how and enjoy the process of rebuilding and I’d know I could do it quickly. I knew at that moment I was ready to build again my own business, but this time it looked much different than before, I was training others how to live a fulfilled life, in complete abundance with sharing their knowledge with others and really enjoying it.

I want to help you take your actions and what you’re doing daily and put them into perspective so that you have a way of living your life and appreciating your life at a much deeper level than you ever have.

I teach an exercise that is called “Sacred Money, Sacred Life” taken straight from my Simply Wealthy Sacred Money Archtype© Align your Financial & Spiritual Destiny course which is a very deep, thought-‐provoking exercise, its a very powerful exercise, very illuminating.

We are going to go ahead and do this exercise together.

Put on some soft music, make sure the rest of the house is quiet and take some time for you. Many people don’t think about these things, and when you do it can be life changing – very transformational.

Just remember that “allowing” the emotions to flow can be a good thing, it means that you are healing and moving forward.

Sacred Money, Sacred Life, is designed to help you let go of the things that don’t matter in life and to focus on what does matter most.

This is the sad irony. What matters most is often what gets lost in the hustle and bustle of daily life. I am here to help you put that back front and center.

The second piece of this putting it all together in the Discovering Your Financial Life Purpose exercise, but I will not be teaching this here today.

This is a journaling type of exercise with four questions that build upon each other.

I would love for you to have the benefit here and now with me today to start to write answers for yourself, don’t wait, take action today.

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The first segment of these four pieces is called purpose and impact.

I want you to imagine for a moment that you have all the money you need to live the life of your dreams. Take that in for a moment. You have all the money you need to live the life of your dreams.

With that taken care of, what do you spend time on? What do you feel is your purpose? What impact do you focus on creating? Who do you feel called to help? Why do feel compelled to do this?

This is a moment to be as specific as you can and to really allow yourself to dream. Take a few seconds just to write down any first thoughts that come up.

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The second question here is on perspective and priorities.

You’ve just learned that you only have five more years of life. The end will come without notice.

Knowing the end of your life is coming sooner rather than later, what changes will you make? What will you do with this all-‐important final phase of your life? What will give your life meaning? What’s the legacy that you want to leave?

Journal the first answers that come to mind. Don’t second guess the answers. Just write.

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The next section is completion and closure.

You’ve just been told you only have one day left of life.

What are you feeling?

Are there any regrets or disappointments? Do you have dreams you wish you had fulfilled? Is there anything you wish you had done differently now that your life is about to be complete?

Journal the answers that come to you – First answer, best answer.

For some of you this is bringing up a bit of emotion, take a deep breath and just write what comes.

“You’ve just been told you only have day of life…what are feeling? Do you have unfilled dreams – regrets, what would you do differently?

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The final section is realization and renewal.

Looking back at what you journaled in this exercise, what are you saying you want to change in your life?

What choices or decisions will you now make? What are the main themes that you’re noticing? When I say theme, I mean thread or things in common.

I’d love to hear what you’re already seeing as the value from this exercise, comment below and write what value came – it’s highly personal so you don’t need to give specifics in nature, just what value came from this.

I really love this exercise because it’s a bit of a wake-up call for many of you. Great job!

So the power in this exercise comes from this final section “realization and renewal.” I want you to create some concrete action steps you can now take. Be specific. Many of you will have the inclination to be very sweeping and general with your answers.

Let’s take the question:
“What choices or decisions will you now make?” You may say, “I’m going to make new choices about things that make me happier.” That’s very nice, but that doesn’t really mean anything. I want you to get really specific on the action, choice or decision.

There’s no right or wrong way to do this exercise, but you want to be aware of taking you to a more concrete, specific place of action as a result or as a next step of this exercise. That’s what I want you to be looking for in the realization and renewal section.

If you said, “I need to make decisions that bring more happiness in my life,” I would say, “That’s great. What is one of those decisions right now?” I just want you to chunk it down and be specific.

Now here is your Simply Wealthy Action Step: I want to ask you to set a timer for 15 minutes, grab something to sip on such as a cup of coffee or tea, wine, whatever – just relax and take yourself through this exercise in detail. Really dive into this, and do this by yourself and for yourself. You can share it a friend, maybe share it in our comments box below – just share it in some way to really deepen your findings here. State what insights and aha’s come from doing this exercise.

Most importantly, Do this for YOU!

Discover your Sacred Money Archetypes and step into your Divine Financial Abundance

Discover your Sacred Money Archetypes and step into your Divine Financial Abundance by Debra LarsonYours FREE!

Sacred Money Archetype Empowerment 4u! Discovery Kit

  • Determine your Sacred Money Archetype’s Assessment
  • Complimentary SMA Empowerment 4u! Session
  • Beautiful, full-colored downloadable Sacred Money Archetype Cards

…. valued at $297

Are you ready to create deep, powerful transformation around money?

During our time together you will discover and learn for free:

  • Learn your personal Sacred Money Archetypes, revealing the most profitable actions you can take to increase your income and secure your financial freedom and future.
  • Key areas where you may be giving away your power with money, and identify steps you can take to own your value, with confidence and clarity.
  • The one simple next‐best step you can take immediately.

Leave the session inspired and crystal clear about the next steps to aligning your financial success with your personal and spiritual growth.


About Debra Larson

Did you enjoy this article? Would you like to use it? Feel free, just make sure you READ and copy Debra’s information below along with the exact reprint of the article:

Debra Larson is a Transformation & Wealth Coach, founder of Simply Wealthy by Debra.

Debra LarsonDebra, an award, winning coach, Amazon best-selling author, empowers women around the world on how to turn their own true gifts, passions and purpose into a profitable, meaningful business thru simple, doable – yet result driven concepts and systems. She prides herself in helping her clients achieve transformational results by weaving timeless truths and Universal Laws with mastery marketing counsel, teaching on everything from mindset to marketing that assists you in growing yourself while empowering you to fulfill your life’s purpose. You can find out more about Debra and get free tools, tips and steps to becoming simply wealthy in your business & in life at:

Want a paper copy of the exercise in the post above? The download option is below:

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