Money Mindset Problems in New Businesses

When working with clients who are on the brink of becoming freelance or self-employed in a services business, I often come across a particular mindset about money which is holding them back or which, if not addressed, will lead to them not being able to have a sustainable business.

This mindset is connected to how they perceive the value of their own time and skills, and prevents them from asking a fair price for their services, particularly for their time.

I’m finding that a MindSonar profile can really help such clients to identify which thinking patterns are at play in this situation.  The strength of MindSonar is its contextual nature, so it can be used to focus in on the problem area and the relevant thinking patterns.

In the clients in question, MindSonar helps identify how their thinking about charging for their services differs from their thinking around the other aspects of their new business.

For example, often a person who has decided to be self-employed might have a combination of the following Meta Programmes in the context of their business as a whole:

  • Internally Referenced
  • Internal Locus of Control
  • Proactive

However, when they consider pricing they move to the following combination:

  • Externally Referenced (“what will others think about these prices, when I’m only just starting out?”)
  • External Locus of Control (“I just can’t ask that much because the economy is not good, so no-one will be able to afford me”)
  • Reactive (“I keep thinking that there are some  businesses charging less, but I also think that I’m offering a better service, so maybe I can charge more…”).

Working with these clients to develop a realistic business model in which they charge the true value of their services usually involves some general coaching around self-worth, confidence, etc.  With MindSonar, it can also enable very targeted coaching on the relevant Meta Programmes.

Different clients might identify other Meta Programmes which are causing the problem, and I’m looking forward to uncovering which ones as I use MindSonar more in this context.

What are your experiences – have used MindSonar in this context yet? Perhaps you struggle with charging a fair price for your services.  If so, contact your local MindSonar Professional who will help you get your business in a healthier position.

Please let me know your thoughts on this in the comments section below.

 

 

Thoughts on complaints and perceptions of bias

Recently I read of an analysis by the BBC (British Broadcasting Corporation) into the complaints they received about political bias in news reporting.  The BBC have a stated aim to be unbiased in their reporting of news, so they do investigate claims of such bias.  The results of the analysis revealed that there was pretty much an even split between those complaining of left-wing bias, as there were of those complaining of right-wing bias. This seemed puzzling, other than to add to the belief that more people are willing to complain about what they don’t like, rather than complement what they do.

I started to think about this finding in terms of the thinking styles which might be at work in those submitting complaints of bias. I wonder if what’s happening is that people don’t notice the things that they agree with because when we agree with a point a view, we start Matching and feel comfortable. However, when we are listening to something that we disagree with, we start Mis-matching and so notice how many things seem wrong to us and which therefore cause us some discomfort.  In this way we become more aware of those items with which we disagree than of those which we find easy to listen to because of our agreement with them.

So, my theory on the BBC’s findings are that many people only notice those articles with which they disagree because Mis-matching generates feelings of discomfort which are absent they are Matching. As a result, some perceptions of bias will be the product of the observer’s thinking style rather than of the article itself.

I think this observation can help when working with clients who are experiencing stress and frustration with other people with whom they disagree.  In coaching, if we can encourage such clients to move into a Matching meta programme, and so to see areas of either agreement or of differences which could be used to complement their own thinking, then conflict resolution and better co-operative working might be achieved.

The team profile MindSonar exercise does this well for teams in which conflicts might exist.  Might it also be useful in more domestic settings too? I wonder if any family therapists out there would be interested in giving it a try?

I’d love to hear your thoughts and experiences on this subject – perhaps there are other meta programmes at play too.  Let me know in the comments box below…