If you’re an entrepreneur or you dream of becoming one, you probably went into business for yourself so that you could do work that you love, make a difference in the world and make good money doing it.
When you own your business, there are no glass ceilings and the sky is the limit to what you can earn. When you have a business that brings in more money then you thought possible, it gives you more choices and more freedom in your life.
I’m Sherold Barr and I’m a master coach and the founder of Smart Women Make Money, the online money program for women who want to create a life of financial freedom.
I’ve helped hundreds of women learn how to face their finances and clear their limiting money beliefs – their money blocks – so that they could make more money.
Imagine what it feels like to have a positive relationship with money so that you no longer fear looking at your bank balance or paying your bills.
Or imagine being able to feel confident pricing your products and services in a way that feels right and that you’re able to support yourself and contribute to your family’s income.
Imagine what your life would be like if you didn’t have to worry about having enough money or feeling ashamed of accumulating debt?
What if you knew there is a step-by-step process to help you get your mind on board with the amount of money you want to earn and that you clear any limiting money beliefs that hold you back?
And there’s a clear path to help you change your relationship with money once and for all.
Would you do it?
I’m here to tell you that that plenty of women have proven it’s possible. And I’ve worked women who are coaches, artists, yoga teachers, consultants and many other types of service-based businesses.
I want to share my money story with you.
Back in the late 80s, I was a single mom with a young son and I had just gone through a divorce. I got a job as a PR director of a hospital.
This was my first corporate job – I had good benefits and a starting salary of $28,000 back in 1987. However after working there for 7 years, I grew frustrated because I had a set salary and even when I was promoted to marketing director, I barely got a raise.
You see, I didn’t know how to ask for a raise – I didn’t know how to negotiate. I was never taught about money or how to care for it. Yet I watched others in the organization get raises and make more money.
I had a hardwired belief from my father. My dad told me in high school that I had to work “hard” in order to be successful.
I began to have back problems and then had a back surgery.
My body just gave out from the pressure of being a single parent, working hard and trying to prove myself in that job.
While I was recovering at home lying on my couch, I made a decision. I couldn’t live like that anymore. It wasn’t worth it.
The stress, working that hard, feeling like I was being passed over for raises and letting someone else control my earning potential – all that had taken a toll on my body.
My job felt like a dead-end, so I made a plan and left that job.
I asked myself what I could do? And I focused on that and took action.
I started freelancing, I fixed up a studio behind our house and did the “if you build it, they will come dream scenario.”
It wasn’t overnight but it happened. Within a year I formed my company and started my boutique PR firm and niched my company in healthcare technology.
I worked remotely from my home. And in 1998 I was hired by Microsoft’s PR firm to represent Microsoft’s Healthcare Industry Solutions Group to news media and industry analysts.
By my second and third year in business, I made six figures plus and by my fourth year I grossed a half a million dollars.
I could have gone on and probably made a million dollars but the work wasn’t fulfilling for me.
I wanted to work directly with people and not represent products.
Today I’m in my second successful business, and I’m teaching you the principals I used to manifest what I wanted to create a positive money mindset.
And for the past 23 years, I’ve had a location independent business where each year my husband John and I travel in the winter to escape the dark rainy skies in Oregon.
I’m sharing my story with you because I wasn’t trained in online marketing or technology when I started my first business.
I learned what was stopping me from making money – it was my limiting beliefs about money.
I cracked the code on my money beliefs and learned how to ask for what I deserved to make. And If I can do it then so can you.
I’ve taught Smart Women Make Money for the past 10 years and I’ve worked with hundreds of women who have found out the root cause of their money issues and this alone has allowed them to break free of the barriers to money.
The women in my program have been able to clear the limiting beliefs that block them from making more money.
When Teresa took Smart Women Make Money she was living on $300 a month. She felt paralyzed to take action until she found out the limiting beliefs that were stopping her from taking action and making money.
She started her NW Sour Dough business to teach others around the world how to make sourdough bread and she set her income goal of $10k a month.
That first year she made $5k a month then the next year she made $84k and bought her first house that she paid off in 2 years.
This is a true and remarkable story that proves the point that anyone can find the limiting beliefs that block them and then clear them to earn more money.
When you remove the limiting money beliefs that prevent you from making more money, it changes your energy and you take action towards your dreams.
These limiting money beliefs are often deeply embedded in your subconscious mind and they must be brought to consciousness. This is the root cause of your money struggles.
So in order to truly feel powerful, you need to learn how to feel positive about money and stop hiding and feeling ashamed of your finances.
The longer you ignore your money or your debt and feel ashamed, the more that shame grows and it will stop you from earning more money or paying off that debt.
Women tend hide and keep their money lives secret due to shame.
On the outside you look like you have it together but on the inside you might be ashamed of accumulating debt.
The sooner you take responsibility and make a savings plan, an income plan and a debt reduction plan, the better off you’ll be when it’s time to retire.
When you have a positive relationship with money and you work through what stops you from asking you for what you deserve to make that leads you to feel more confident and powerful.
Maybe you were like me and were never taught how to care for your money. I’ve had to learn how to care for my money and it wasn’t always easy but once you learn what might be blocking you from making money, you can take fast action to change it.
And while diving into your beliefs and thoughts about money might seem scary at first, it the most powerful thing you can do to change your life and your business.
Our Smart Women Make Money community is supportive and it’s safe to talk with other women who are in the same situation. When women come together we are more powerful. A supportive community is healing.
One of the biggest struggles I see with entrepreneurs is that they don’t believe they’re ready to charge what they deserve to make for their services.
They give their services away for free or roll back the price because they don’t feel good about their own self-worth.
Then their business becomes a hobby because they continually feel they aren’t good enough at doing what they’re doing. You may identify with this and you continue taking classes because you think that each certification and training will help your business become successful.
The only thing between a business making money and one that doesn’t is what you believe about money.
The second problem with entrepreneurs is that they think they don’t know enough or aren’t good enough yet at what they’re selling in their business.
They take training after training searching for the magic bullet when the magic bullet is really your money mindset.
There are two Universal beliefs that can drive your spending as an entrepreneur – “I’m not good enough” and “Who do I think I am to charge this amount?”
Both beliefs are shaming and cause us to hide and not ask for the sale.
Both of these beliefs are probably the reason why you may be taking course after course thinking that you’re business will be profitable if you just take another coaching course or business training.
Beliefs drive your emotions and if you feel ashamed or you don’t feel confident about what you’re offering then you’ll hide out or buy more courses and your business will become a hobby.
Many women don’t believe they deserve to make good money.
Or because you’re in a helping type of business, you might believe you don’t deserve to make money and that you should do it for free.
This sends the wrong message to the Universe because the energetic tone you emit is how the Universe responds.
I made mistakes myself in the first two years after I started my coaching business in 2010. I thought if I just took another training and became a master coach, I would make more money.
After two years of running a hobby business, I realized that taking courses and buying more books was a bottomless pit – there are always more programs to take.
I realized that I needed to focus on doing only revenue generating activities.
I learned how to find my ideal clients, sell my services and to charge premium prices and leverage my time by offering group programs.
In my 10 years of working with women and their money mindset, I see women from all walks of life and education levels that feel helpless and afraid to look at their finances and don’t know how to take care of their money.
If you want to have a positive relationship with money, you must nurture it and care for it just like you would take care of any relationship in your life.
You may feel ashamed about creating debt or about ignoring your credit card statements and bank balances.
I want to let you know that everyone has some form of money shame.
One of the things we do in Smart Women Make Money is we work on money shame in a way that actually removes some of the power that shame has on your life.
It’s time for you to stop ignoring money and to stop waiting for someone else to take care of you.
It’s time for you to start taking care of yourself and your future.
What I’m about to share will help you become conscious of what might be holding you back.
Whatever you believe about money is the result you have right now in your financial life. YOU LIVE OUT YOUR BELIEFS.
YOUR MIND IS YOUR BIGGEST ASSET IN LIFE AND BUSINESS
Your mind is like the steering wheel of your life.
You’re either asleep or awake at the wheel. The majority of people walk around through their life unconscious about what they think, believe or feel.
If you become conscious of what you think and believe then you’re taking charge of your mind.
If you aren’t conscious of what you think and believe about money, your beliefs, fears and thoughts will drive your behavior that gives you the result you have today in your financial life.
When you become conscious of your thoughts, beliefs and your emotions, you become more present in your life. Then you become a conscious co-creator of your life.
My program Smart Women Make Money will help you:
– Clear negative attitudes, negative habits, and physical, digital, and energetic clutter out of your life so that money can flow in.
– Tackle “money overwhelm” and create a realistic plan to help you get out of debt, save up for a vacation, increase your business revenue, or whatever you’re yearning to do.
– Go ALL IN with your goals, bringing your full heart and spirit into the process, so that you start seeing and feeling positive changes more quickly.
This is our moment.
In this moment in world history, we need women to stand tall and strong, to believe in their abilities, to play bigger, and really take ownership of their money.
The days of women ignoring their money, feeling afraid of money, feeling intimidated about money, apologizing for having money, mismanaging their money, drowning in debt, over-working, under-earning… all of that needs to stop.
It’s time for women to stop having less, earning less, and settling for less.
It’s time to begin a fresh, healthy, empowered relationship with your money.
Now over to you. When you comment on my blogs, it helps me know that this article resonated with you. Write your comments below and let me know what you’re struggling with about money.