I was a paramedic for over 8 years. By the time I left, I had reached step nine in the union pay scale, which means I was making $25 an hour, or $37.50 at time and a half, and a whopping $50/hour for double time.
It was a lot of money, and rated as one of the highest paying paramedic jobs in the U.S. Some of my colleagues were earning $80-$100K a year through doing a lot of overtime. Me, I was working part-time at that point, trying to get a business started.
When you decided to go into business, you knew that you had to charge more than you were paid at a job. But, it may never have dawned on you the true difference between being an employee, and running a business.
There are a lot of miniscule tasks that need to be done.
Marketing. Accounting. Organizing the office. Buying supplies (either online, or running out on errands.) Writing and editing materials. Invoicing. Researching technology (computer applications, website technology, audio technology, etc.) Troubleshooting problems (time on hold with tech support). Continuing education, growth, and learning. Customer support.
When I was a paramedic, my employer paid people to handle all of these details. Do I pay myself, or someone else, for all of these details? Well, I didn’t know how to at first. But, you’ll burn out if you don’t.
And, where did your dreaming time go?
Before you started your business you dreamed about helping people in the way you do now. You were in a training school, or you played with your business idea as a volunteer. Before it was a business, it was a hobby, and it occupied a certain amount of your dream time.
Once you get into business, the fit hits the shan, and you are so busy with all of these details, that the dreaming-creative time that got you going in the business in the first place kinda leaks away. I’m guessing you probably don’t spend much time now dreaming your business forward.
Well, guess what? Your customers are depending on you for all of these things:
- Top quality product or service
- Customer support.
- A well-run business that invoices, follows-up, and takes care of details on time.
- Creativity and growth in continuing to help them.
You probably set your prices thinking only of item number 1, without really thinking about numbers 2, 3, and 4. That means you are only charging for 25% of what you need to do. No wonder you feel as if you are on the gerbil wheel!
Does that mean I have to quadruple my prices?
Not necessarily. Pricing is a combination of head and heart. And, there is one spiritual secret to pricing which makes the whole thing a lot easier.
Keys to Funding Your Whole Business
• First: 80% to 90% of the iceberg is under water.
Those four categories I listed? Get four pieces of paper, and start brain and heart-storming all of the tasks, projects, dreams, and details that go along with each of those categories. By doing this, you will start to get a realistic view of your business, and so you won’t get sunk like the Titanic by a piece of the iceberg you didn’t see.
• Second: Feel the prices.
Sit a moment with what you charge for your product or service. (Take your customers out of the picture entirely.) This is just between your heart, what you offer, and your prices. How does it feel? Do your prices feel great? Do they feel “kinda-sorta-okay-but-not-really?” Or, do they feel heavy, horrible and gut-wrenching? Hmmm…
• Third: The spiritual secret to value.
When you sell something to someone, it is NOT an exchange. They are not trading you money for your product or service. It looks that way on the surface, but the spiritual teaching is quite different than how it appears.
Everything is the Face of the Divine, and the Divine is the Source of everything. For your client or customer who is struggling with a problem, you provide your product or service to help them. In doing so, to them you are a manifestation of the Divine Quality of help, support, caring.
Well, guess what? You aren’t actually God, you are just a manifestation and expression of God. So, that means that in addition to your Divine nature, you also have your human, dependent, needy nature as well. You also have need of provision, caring, and help. This means your customer is the Face of the Divine for you, a manifestation of the Divine Quality of provision, help, and support.
It requires a great deal of humility on your part to ask for, and receive, a price that truly supports you. This doesn’t mean your prices need to be sky-high, but it also means you can’t allow a ‘false humility’ to keep your prices artificially low. Ask in your heart, once you have the truth of all the details your business actually does, and see what pricing might support you to be in a loving, generous space with the entire shebang that is your business.
This can be quite a mind-bender of a teaching, because we are so used to thinking in terms of “transactions.” But, considering that our spiritual nature is a part of the One Unity that exists, then Who or What is transacting with Whom? In both directions, to you and to the client, it’s the Divine giving from the Infinite Source.
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6 Comments... Care To Join Us?
Hi Mark,
this is helpful. I have been struggling with the apparently “transactional” nature of my business. I want my work to be accessible to people who need it, and that often ends up being folks with lots of health problems and lots of medical bills and little left over for my work. Left to my own patterns I would probably treat them all for free, give them each a free hour or two, and have not much to show for it on the feed-my-family end of the equation.
At the same time, though, it’s clear that keeping my rates where they are is a stretch for my heart–one new client even said to me “wow…that’s cheap!” That didn’t feel very good.
I appreciate the practical exercise, and the emphasis on feeling how things sit with me inside.
thanks for your insight and careful attention to…so many details.
Chandler Yorkhall
@Chandler- You are so welcome- I’m glad it was helpful. And, yes, giving it all away for free may not be the most sustainable approach.
It may not even be the most helpful for them, so I’m glad you are working your way through it.
This is phenomenal. You just .. it is what I’ve been feeling but had not put into right words.. and it {what you said here in this post} it feels right in my gut, you know? I’m very tempted to stay and read your blog all day.. but I think I’ll have it with my tea in the morning… maybe 2 posts a day.. otherwise I it’ll be information overload and I’ll not retain any of it or use it to make the changes I want to make b/c of it. Thank you for sharing your wisdom!
Mariah´s last blog ..Inside all of us…. is a WILD THING.
@Mariah- I really write this blog just to lure people into staying for far too long.
On a more serious note- these teachings resonated so strongly with me, they put into words the wordless intuitive sense for me- and I’m so glad that in sharing them they resonate so strongly with you, too.
What a wonderful site! I love your teachings. I always thought it was myself that constantly thought & worried about money.
I’ve had my own businesses for a long time & just started making some substantial money from them.
It seems like the universe does want to make it out of reach for a truly fine living through work sometimes. The way everything keeps costing more.
I know when prices go up we need to also increase prices to adjust. Sometimes that may or may not price you out of the market.
Thanks!
blogmoneymania´s last blog ..Google Slap for Product Review Sites
@blogmoneymania- thank you for your kind words- And congrats on the business success!
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