Episode 101

Overworked and underpaid

Are you overworked and underpaid? These are two very common issues in small business.

In today’s episode, I chat about how to move to a place where you are paid well for doing less work that you love.

 

In this Episode:

  • 01.00: Strategies for shifting out of overwork
  • 04.00: How to get paid more for doing work you love
  • 05.25: Why mindset is more important than strategy when shifting from being overworked and underpaid

 

Links:

 

Transcription

Are you overworked and underpaid. These are two very common issues in small business. So today we’re going to chat about how to move you to a place where you are paid well for doing less work that you love.

 

Hello, and welcome to the Clare Wood podcast, where myself and incredible guests share about money mindset, financial successes, and how to manage your money in a fun and practical way to create wealth and abundance in both your business and your life. I’m your host, Clare Wood. I’m a business coach and a money mentor. I strongly believe that money has the power to positively change the world. I can’t wait to help you transform your mindset around money, create a love of numbers and build the business of your dreams. So you can live a life of financial freedom giving and global impact.

 

Strategies for shifting out of overwork

 

The first a question that I want you to think about is why are you doing so much work? Sometimes we take on a whole bunch of things that don’t necessarily need to be done by us as the CEO of our business. So I’d love for you to check in. Are there things that you were doing that you can outsource? If you have gone through that process and you recognize there is nothing more that anyone else could do. The next thing that I’d love you to really explore is do you have too many clients? A lot of people take on client after client, after client, even though they are at capacity, maybe it might be worth checking in what your capacity is to take on new clients. And if you are reaching or perhaps you’ve exceeded it, I’m going to give you a bit of Clare Wood tough love here.

 

You are the CEO of your business and of your life, and you get to choose how you run your business. So if you are feeling overworked, there is only one person who can change that. And it’s you. So what are you going to do differently to start to get a different outcome?

 

A few strategies that I can suggest of how you can shift the needle, have a look at your systems and processes. Is everything streamlined so that it isn’t requiring more of your time and energy to do the things that you need to do in your business. Do you need to invest in tech or do you need to look at hiring more people in your team? The only way to shift you from being in a space of being overwhelmed and overworked is to be really intentional with your time being really mindful of what it is that you are doing with your time. And if things are out of alignment, then making sure that you take action to shift them.

 

I am also a big believer in scheduling in the things that you love to do outside of your work as well. So if you love to go to the gym, like I do, making sure that you put that into the calendar and you plan your business life around the things that you want to be doing outside of your business life as well. So those are some practical ways that you can reduce how much you were currently working.

 

How to get paid more for doing work you love

 

The second part of this episode is chatting about how you can get paid more without increasing your workload. In episode 98 of the podcast, I shared a whole bunch of strategies around how you can scale your business in a way that feels in alignment. But to sum up some of those strategies that I spoke about the first way that you can get paid more without working more is by increasing your prices.

 

Another way is to create a one-to-many offering, such as a course, an ebook or a membership. And another way that you can get paid more without working more is to hire team members to work under you, to offer the same service that you offer, but you’re paying them a lower rate than what you’re charging this services out for. So there you have it. This is how to earn more while working less. These are the strategies you need. So if it’s that simple, why isn’t everyone doing it? Why aren’t you doing it? And the reason because strategy is only ever really a small part of change. Mindset is where most of the blocks from shifting will come in to play. Let me share a few examples. One of the strategies I mentioned before is can you outsource? And you might say, great, yes, I’m going to do that.

 

And then the stories begin, for example, no one else can do this task as well as me, or maybe there’s another story. I’ve tried to outsource this task many times, and it’s always been a disaster. This has to sit with me, or maybe the strategy that I spoke about taking on less clients is one that really triggers you. Maybe you think that’s easy for you to say Clare, but if I don’t take on all these clients, my business will completely dry up and I don’t want to let people down. If I don’t take on all these clients, my business will completely dry up. I have to make hay while the sun shines. And maybe that is the case for you. But if you were to the point where you are feeling overworked, there’s something that’s not lining up here. And this is why this mindset work really comes into play.

 

We really need to understand what is going on behind the thinking or reasoning of why you can’t take on less clients. If that is where you feel you’re being cold. The next mindset challenge that might come up is around the strategy of increasing your prices. Maybe your story is, my clients won’t pay that. Or maybe you’re worried that your existing clients might go somewhere else. And the truth is they might. And this is why these mindset work is so important because if we implement a strategy and it doesn’t go to plan and we lose clients, or we’ve got the wrong hire, or we take on less clients and we’re making less revenue than we’d hoped for, we need to be rock solid in our belief that this is the right thing to do, to scale that business.

 

Why mindset is more important than strategy when shifting from being overworked and underpaid

 

Mindset is nearly always where the block comes into play. And this is why I am such a big believer in doing the mindset work because your beliefs always shaped the actions that you take and always shapes how you perceive things that go on around you. Someone who has an unshakable mindset, won’t let a speed bump be a stop sign. They will just recognize it’s a small bump in the road. They won’t give up. They’ll keep on going. And they’ll keep on trying and doing things differently until they get the outcome that they desire.

 

If you have recognised that mindset blocks hold you back from your dreams. I am so excited to share that the doors are now open to the mind to money mastermind. This container is for business owners who are looking to scale to seven figures, mostly through shifting their mindset around money. And yes, of course, in the mastermind, we talk strategy too. But for the most part, the way that I help people to grow their business is through unlocking their limiting beliefs and creating an unshakable mindset. And this from my experience is how the real growth happens. If you would like to have a no pressure chat to see if this mastermind is a good fit for you, please email me at clare(Replace this parenthesis with the @ sign)clarewood.com or send me a DM on Instagram @clare_wood_coach. I am so excited to be launching this next round of the mastermind. And if it feels like a good fit for you, I would love to welcome you in. So to sum up today, if you are feeling overworked and underpaid, there are a bunch of strategies that you can implement in your business to turn that story around. Firstly, examine why you are doing so much work inside your business and see if there’s a way that you can change it.

 

And secondly, figure out how you can get paid more without increasing your workload. And when you start to implement these strategies, if you do find that mindset blocks are popping up, this is really normal. And this is why it is so important to do the work on your mindset. I really want you to be able to earn more money in your business while working less. So I hope you have enjoyed today’s episode. And if there are some great tips in here that you think will benefit your audience, please make sure you share this episode with them. Thank you so much for tuning in and look forward to chatting to you again next week.

 

Thanks so much for listening. If you love this episode, please share it with your audience. And don’t forget to tag me on Instagram @clare_wood_coach, and also make sure you hit subscribe, so you never miss an episode, have an abundant week. And I look forward to talking to you again next week.

 

About your host

Hi, I’m Clare Wood – I’m a numbers geek, a travel lover, a reality tv addict, and a passionate business coach. I’m here to empower you to create an extraordinary business and an amazing life; because I believe you don’t have to choose between the two.

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