362 - Change Your Money Story - Change Your Business with Austin Church
Jan 13, 2025
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Austin Church, author of "Free Money - A Guide to Pricing Your Services," dives into the complex psychology surrounding money. He discusses how our upbringing shapes our money mindset and decision-making in business. Austin shares actionable steps to change your money story and encourages creatives to embrace their worth. The conversation reveals how geographical location impacts financial perceptions and emphasizes effective pricing strategies for web design, highlighting the significance of aligning financial goals with personal values.
Understanding one's money story, shaped by upbringing, is vital for making empowered business decisions in web design.
Reframing the relationship with money helps creatives detach personal worth from financial goals, boosting confidence in pricing services.
Setting financial goals should align with personal values, ensuring a balance between financial success and overall well-being.
Deep dives
Introduction of Tiered Pricing for Web Designer Pro
The episode begins with an announcement about the new tiered pricing structure for Web Designer Pro, offering various access levels to courses and community features. The lowest tier provides access to all courses for $49 a month, while a mid-tier at $99 includes community aspects and monthly Q&A sessions with the host. The highest tier, priced at $199, offers direct coaching and messaging from the host, but spots are limited. This pricing model is designed to cater to different needs and stages in the web design journey, aiming to provide members with access that meets them wherever they are.
Exploration of Money Psychology
The conversation transitions to the emotional complexities surrounding money and how personal upbringing influences one's money mindset. The guest, Austin Church, highlights that money discussions can evoke feelings ranging from excitement to anxiety, depending on past experiences. He emphasizes that an individual's financial beliefs are often shaped by their early interactions with money, creating either positive or negative narratives that affect their business decisions. It is suggested that understanding one’s money story is crucial for running a successful web design business.
The Importance of Money Mindset in Business
Austin Church discusses the significance of separating personal worth from business financial goals, a concept that can often hinder creative entrepreneurs. He stresses that many creatives might find themselves tethered to a negative money story, affecting their ability to price their services effectively. The episode encourages listeners to re-examine their beliefs about money, to challenge the preconceived notions developed in childhood, and to recognize those beliefs' impact on their current financial decisions. By reframing their relationship with money, individuals can enhance their confidence in business negotiations and pricing.
Categories of Money Beliefs and Their Impact
The podcast identifies various categories of money beliefs, such as money avoidance and money worship, which significantly influence decision-making. Money avoidance is characterized by feelings of unworthiness or viewing money as inherently bad, while money worship involves a belief that all problems can be solved by acquiring more money. Many individuals may navigate through life with deeply rooted, unexamined beliefs about wealth, leading to patterns that can be detrimental to financial health. The discussion emphasizes the importance of recognizing and confronting these ingrained beliefs to allow for healthier financial practices.
Setting Financial Goals Based on Lifestyle
Toward the end of the conversation, the focus shifts to goal setting with an emphasis on balancing financial aspirations with lifestyle priorities. The host reflects on the recent experiences of needing to adjust health insurance costs and how it influenced his life and business outlook. He discusses the perceived pressure to pursue higher revenue levels, such as seven figures, and how that may result in compromising work-life balance. Ultimately, the episode advocates for setting achievable financial goals that align with personal and family values, ensuring that financial success does not come at the cost of overall well-being.
How’d that make you feel? Nervous? Icky? Excited? Opportunistic? Weird?
The very thought of money brings a variety of emotions depending on how you feel about it. And I firmly believe how you feel about money today all goes back to your money story – and every one of us has a money story largely based on how we were raised.
When you build a web design business, you probably don’t realize that you’re subconsciously making business decisions based on your money story. And if that story isn’t pretty…well…it makes sense why it’s hard to charge your worth, raise your rates, build profit, sell with confidence, etc.
So to take a deep dive into the psychology of money and to most importantly, to help you build your business with a mindset of plenty and opportunity, I’m pumped to bring on someone who’s changed their money story from scarce to plenty…Austin Church. He’s the author of the book Free Money - a Guide to Pricing Your Services so You Can Unlock a Better Lifestyle.
His book was referred to me as a MUST READ from a trusted colleague and let me tell ya, after this conversation, I have to agree. Austin’s approach to changing your money mindset is a must for creative business owners. Especially if you don’t come from money. Which, let’s be honest, most of us don’t.
We dig into:
How our upbringing affects our money mindset today
Steps you can take to change your money story TODAY
How the internet opened up the door to different money mindset compared to previous generations
How to take small steps to build confidence with pricing
How $100,000 is not a gross goal to get to – but a base standard of living in the West
Highly recommend checking Austin’s book out and connecting with him below.
Head to the show notes to get all links and resources we mentioned along with a full transcription of this episode at joshhall.co/362
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