Roundtable Discussion: Does Australia Have Money Blocks?
Does Australia have money blocks? Each country and city has a unique money story. I invited some of my Australian members of Money Bootcamp to come together and talk about how being born, raised or living in Australia has impacted their money mindset. We talk pricing, visibility, confidence, imposter syndrome, and more.
Meet some of our Aussie members:
Natalie Crowe is a WebPress website developer, business mentor and a tech guide.
“I help non-techies in business. I’ve been a Bootcamper for three years. I live in the Hunter Valley, New South Wales.
I live here with my wife and my 13 year old daughter. I homeschool. I’ve been running my business for the last 13 years, and I've just had a month off.”
Michelle Wordsworth lives in Melbourne. She’s a mindset and manifestation coach.
“I help people leave their nine to five job.
I want to help people find their spark and rediscover what it is that they're passionate about.”
Krystal Kleidon lives in a tiny rural town in Queensland called Dalby.
“I'm a blogger and I have multiple websites, but my main one focuses on helping women get their life organized.
I joined Bootcamp in January, 2021. At the time I was still a paramedic. I've actually been able to go full time on my business this year, thanks to all the stuff at Bootcamp, which has been really exciting.”
Sally Porteous lives in Brisbane.
“I came into Bootcamp in 2019. I’ve just restarted Bootcamp again, and just focusing even more, even stronger into it. I curated my own MBA last year.
I produce events, but I also do event management workshops. Less and less people are hiring professional planners, and just trying to do it themselves. I want to help make it fun.”
Samantha Ferres lives in Sydney, and is a confidence coach and rapid transformational therapist.
“I've been in business for a couple of years, and I help female entrepreneurs to move through the doubt, the money blocks, the visibility issues so that they can really smash through their income ceiling. In terms of Bootcamp, I started in January of last year.”
Australia’s Hidden Money Story and How to Break Through the Money Blocks
You’ll notice that each city, each state has a particular money flavor. That doesn't mean that everyone who lives there thinks in the same way, that’s just the overall feel of a place. You either feel you have to comply or you rebel against it.
Australian money values are freedom, respect, fairness, and equality of opportunity. And there’s an unofficial motto too, of mateship and friendliness, and being very egalitarian, and not being too big for your boots.
If we consider friendliness, and being down to earth as unofficial values, there’s an important message there. I had an epiphany about three years ago. I realized that my mateship extended to my pricing; we literally say ‘mates rates’ in Australia.
I had this entrenched sense that it was okay for me to charge Americans, but not okay for me to charge Australians, because they're my mates, they're my family. And I had to really work on that, that it's okay for me to market to Australians.
How Do Australia’s Money Values Affect Your Business and Success?
Natalie Crowe: “Most of my clients are in the UK. So the vast majority of my courses are purchased in the UK. We have a handful of Australian clients. My UK clients look at the prices and go, ‘Oh it's in Aus dollars. It's half the UK amount, I'll pay that, no dramas.’ We had a $25,000 launch recently. I've had more pushback from Australian clients, ‘Oh, that's too expensive.’ I have a lot of people try and barter here in Australia. I recently launched a thousand dollars VIP option, and someone from the UK bought it. Potential clients from Australia tend to ask, ‘I see the prices on the website, but can you give me a better deal?’ It's a culture thing; they expect that.”
To move through this resistance to a particular area, or country, try these affirmations:
It's safe for me to charge Australians.
It's safe for me to sell to Australians.
Australians are my best clients.
Australians are buying my stuff in droves.
Australians can't get enough of my work
Sally Porteous: “My challenge is around charging mates. I engage with my clients for a long period of time. And they often become friends. And the minute they decided that they were ready to work with me, I half the price. I gave them mate's rates.”
To move through the pricing issue around charging friends your actual prices, try these affirmations:
It's safe for me to charge my mates.
It's safe for me to charge my mates the normal price.
It's safe for me to charge my mates full price.
It’s safe for me to receive full price from my friends.
It's safe for me to receive.
It's safe for me to accept my friends' trust in me and my business acumen.
Michelle Wordsworth: “Basically all of my clients are in America. And originally I was charging in Australian dollars, and they didn't get it. I changed my pricing to US dollars to make it easier for them. I’ve found in the personal development industry, that people are comfortable handing over money, particularly Australians, if it’s for something physical. Then they're happy to pay the money. Whereas if it's an online product, like a course or information, they're like, ‘Yeah, but what am I really getting for this?’ And in the spiritual world, people are like, ‘Yeah, but you can't charge for your gifts. You shouldn't be charging for that. You should be giving that away for free.’ I think Aussies are really behind on this aspect of pricing and entrepreneurship in terms of personal development and online courses. Certainly behind the UK and the US.”
If you struggle to charge money for your gifts or feel resistance to your prices when you’re selling in the personal development world, try these affirmations:
It's safe for me to receive
It's safe for me to be compensated for my gifts.
People will pay for my knowledge.
It's safe for me to receive or be compensated for my knowledge.
Krystal Kleidon: “Around 70% of my audience is American - most of my income comes from advertising. For every thousand views from an Australian audience, I get $12. But for a US audience I get $40. I've had to Americanize my copy. It's been a bit of learning around accepting that it's okay to charge US dollars and to target a US audience. 20% of my email list is Australian. And I get a lot of engagement from them, but they don't buy anything. Also, in America I feel like it's okay to be a contributor, but to an Australian audience, I feel like I have to be the guru. And I'm not qualified to be the guru. So I feel safer in an American audience.”
Samantha Ferres: “For me, I felt so uncomfortable marketing to Australians, that a lot of my client base was overseas, but I didn't want to keep working these crazy hours servicing the UK. I made a conscious decision that I wanted to have more Australian clients. I had this crazy pricing system where for Australians I'd charge Australian dollars, for the US I'd charge US, for the UK I'd charge UK. More recently, I decided, ‘I'm just going to charge in Australian dollars. I'm going to focus on Australia.’ And now my client base is 100% Australian. And yes, my clients become my mates. When they finish their program with me, I can't sell them anymore. I feel like everything I give from here on needs to be free.”
If you’re working with being more visible, some affirmations to try are:
It's ok for me to have more success.
It’s ok for me to be visible.
What Has Been Your Biggest Takeaway from Money Bootcamp?
Sally Porteous: “Money mindset work is never really finished. Don't multitask while you're doing it, get really focused. I know I can make money really easily. I just can't keep it. That's the next thing to work on.”
Michelle Wordsworth: “I’m focusing on the mindset work around, ‘it's safe for me to have nice things. It's safe for me to earn money’.”
Krystal Kleidon: “I’m working on visibility. It's safe for me to be visible. I've wanted to do my YouTube channel for so long. But I just feel like I don't have the perfect environment or my hair's not right. I don't look right. Or my accent isn't right. I’m working on being ok with being visible and putting myself out there. I've always been the kind of person who puts everybody else first. Bootcamp has opened up a whole world of other things that I need to work on. Money mindset is the top layer. And then it opens up all this other stuff.
Natalie Crowe: “The best thing about Bootcamp for me is that I can actually see other people making big money. There’s that concept of you making the average of the five people you’re surrounded by. If you're the one making the most, you need a new group. Bootcamp is that for me. I discovered a lot through Bootcamp, and I'll continue to keep going back. There's always another level. Another glass ceiling!
I’ve spent the last decade feeling scared of GST. Recently I decided, ‘I'm just going to register for it, even if I don't hit it.’ The following month I earned 20 grand more than usual and hit $92,000. Denise is the only person I know in actual real life that actually makes a decent amount of money.”
Samantha Ferres: “I’m continuing to work on charging high prices. It's safe for me to charge high prices to everyone, including friends, and to hold onto that money as well. Bootcamp has been the best investment. I think that the material and the actual course itself has been put together so well. The exercises are easy, but really impactful. And the community is brilliant, because there's people just starting out in business, there's people earning multi millions. So there's always a heap of people in there at your stage in business, and have been in your spot that can help you.”
It’s Normal to Have Money Blocks and I Can Help You
Well, I knew we were going to talk about mates rates and pricing today but that conversation went in some unexpected directions. Talking about imposter syndrome and confidence issues was fascinating.
Maybe you’ve realized that you have some money blocks as well. And that is really normal. We all do. I have to work on my money blocks all the time. So if you want this year to be amazing for you, you have to look at your pockets of resistance. You have to look at some of those areas where you're holding yourself back; that's exactly how I can help you in Money Bootcamp.
You can find out more, read real reviews and join at denisedt.com/bootcamp or message me on social media to chat about whether Bootcamp is right for you.
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