Money

The Money Making Boundaries You Need In Your Business

money mindset girlboss abundance The Money Making Boundaries You Need in Your Business

There’s a little saying I live by in my business – “boundaries are bliss”. There are so many distractions and things vying for our attention in business, but by creating clear and personalised boundaries you’ll be able to stay focused, productive, boost your income and create the business you dream of.

There are 3 essential money making boundaries you must have in your business so you can stay focused on what’s important.

Boundary # 1 – Protecting your time and schedule

Do you feel constantly pulled around during the day? Jumping from emails, to marketing, to sales can be a headache and when you’re stretched thin, you have less time to focus on income generating tasks. It’s really common to feel obligated to jump on a call or answer that client email right away, but doing so can distract you from your big dreams coming to life.

The key here is to be really clear on when and how you spend your time so that your clients, friends, family and anyone else wanting your attention will know when they can expect to have meetings, calls or get emails from you.

Put it into practice:

  • Create clear “communication” boundaries with clients from the get go. Explain when they can expect to hear from you and when you’re free to meet or chat with them. Create a contract that includes this information each time you sign a client – it’s a life saver!
  • Time block specific hours each day that you can dedicate to working on your big projects. The morning is usually an ideal time for this.Have a “CEO day” each week. This is the one day you block out all meetings and get into the higher level work that needs to be done as the boss.
  • Have a “CEO day” each week. This is the one day you block out all meetings and get into the higher level work that needs to be done as the boss.

Boundary # 2 – Managing money conversations  

Talking about money with clients can feel a bit awkward at first but the clearer and more confident you are with your pricing (and what’s included in that pricing), the easier it will to manage expectations and create more abundance and flow in your business.

When it comes to setting boundaries around money and pricing, it’s important to be clear, firm and friendly. Money conversations can be awkward at times, but if you’re confident in your value and clear in your communication, your clients will respect your boundaries.

Put it into practice:

  • Review your client contracts and make it very clear as to what your pricing options are, any payment plan options you provide, the terms of payment and exactly what the client receives for that payment. The clearer, the better!
  • Create money ‘scripts’ that you can use for situations where clients may expect free work or request extra hours without offering to pay.

Boundary # 3 – Not doing it all yourself

As a business owner we’re used to wearing all the hats and doing it all. If you’re starting out, it’s easy to fall into this trap of managing all areas of the business. But doing this only leads to burnout and less time for you to bring in the cash needed to grow. The solution is to automate and/or outsource areas of your business.

Where do you start? Identify the things that are time wasting and that you simply hate to do or can’t do. When you automate or outsource these areas, you’ll be more focused and creative, allowing you to spend your time on the income generating tasks at hand.

Put it into practice:

  • Start automating areas of your business. Even if you’re a newbie boss, you can still support yourself by upgrading to better automation tools like a scheduling system or social media scheduler.
  • Start outsourcing areas of your business. Still doing graphic design and website stuff when you suck at it? Look to hire a web developer or designer (we have amazing women in the ITN Directory). Another great option is bringing a VA on, even for a few hours a week to reduce the time you’re spending on admin or social media tasks.

Boundaries really are bliss and a great way to bring in more money, sanity and time into your business.

What boundaries will you create today?

 

Image: The Daily Edited

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2 Comments

  • Reply Em May 16, 2017 at 10:38 am

    Thanks so much for this Jenna. A great article and I definitely needed to hear some of those points… Especially the wearing all the hats! hehe.
    Em || The Gratitude Butterfly

    • Reply Jenna May 16, 2017 at 12:03 pm

      You’re so welcome Em! x

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