Selling with Confidence: Women Entrepreneurs Master Money Mindset with Dr. Nadia Brown
“Sometimes sales rejection feels really personal. You must have a plan for how you will move past that.” ~Dr. Nadia Brown
In this episode of Straight Talk About Sales, we unlock the secrets of a winning money mindset and transform your approach to sales, where I tap into the wisdom from my book, "Sell Like a Lady: How to Master Sales with Dignity, Class, and Grace." We delve into the crucial process of examining and reframing deep-seated beliefs about money that often hold us back, especially for women in the entrepreneurial realm.
This episode isn't just about the numbers; it's about building resilience in the face of sales challenges. With heartfelt anecdotes and powerful case studies, we illustrate the emotional journey of sales and provide real-life tools to help you stay buoyant regardless of the waves you might face.
You’re not just closing deals; you're opening doors to a future of sales success with dignity, class, and grace.
Key takeaways from this episode:
- Transform your sales approach by examining deep-seated money beliefs.
- Learn how to set up pricing strategies rooted in value, not just emotion.
- Build resilience with personal coping strategies when faced with sales rejections.
- Understand the power of a positive money mindset on business growth.
Remember to keep adding tips and strategies to your own sales toolkit that will improve your revenue outcomes and equip you to serve your clients at a higher level.
Resources mentioned in this episode:
- Straight Talk About Sales Podcast
- The Doyenne Agency Website
- Order "Sell Like A Lady"
- Have questions or suggestions for a future episode? Email us at askdrnadia@thedoyenneagency.com
Connect with Straight Talk About Sales
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If you enjoyed the show, please rate it on Apple Podcasts with a short review. Doing so will help me reach more entrepreneurs and small business owners just like you.
Connect with Dr. Nadia directly on LinkedIn
Here’s the transcript:
Dr. Nadia 0:00
Hey welcome to Straight Talk About Sales with Dr. Nadia, where we share the real conversations around challenges, opportunities, and the things that are top of mind as it relates to sales and increase revenue, particularly for women service based business owners. I like to interview other women or share my own insights and experiences based on what I see happening in the marketplace. Tune in .
Dr. Nadia 0:40
One of the more overlooked parts when it comes to sales training is looking at money mindset. Not just mindset around like having the sales conversations but how you truly feel about money because sales is about an exchange of money and energy. And I'm so excited about today's podcast episode because that's what we're diving into. I'm Dr. Nadia, founder of the Doyenne Agency and host of the Straight Talk About Sales with Dr. Nadia podcast. And I'm really excited to dive into this topic around your money. Mindset matters when it comes to your success in sales.
Dr. Nadia 1:21
So while you're out here, getting different skills, make sure you're also focusing on your money mindset. This is an episode you don't want to miss. So when you're looking at doing sales, and being able to become more proficient in sales, or even as you look to shift out of the sales role in your business, depending on where you are in your business, is important to really understand that your money mindset matters.
Dr. Nadia 1:49
And it's funny because I was at an event recently, and one of the speakers talked about just how important or impactful your personal development is, to the growth of your business. And so in today's episode, I really want to talk about your money mindset.
Dr. Nadia 2:10
And also just looking at some keys from my book. So like a lady How to Master sales with dignity, class and grace. And in one of the chapters in the book, we talked about direct sales, I talk about your money mindset, because while there's a lot of focus on sales, and how to do it, and what to say and do and use a script, and you know, how much am I going to charge and all of those things are definitely important, and they do impact your ability to sell.
Dr. Nadia 2:40
And so well, one of the things that sometimes we don't necessarily always think about is how did you feel about money? How do you feel about money? No, really? How do you feel about money? And I want you to sit with that.
Dr. Nadia 2:58
So even after this episode is over, I want you to take some time to just sit with how do I feel about money, paying attention to the conversations that you have around money, even if it's just what yourself how you make decisions, how you make investments, even then how you sell, because women on all of us, not just women, all of us have been conditioned and programmed to feel some kind of way around money, right.
Dr. Nadia 3:25
And however, it often it looks different for women. And many times women are told that they're not good with money. They're typically portrayed as the big spenders. My guides are minutes more typically portrayed as the investors or savers, the ones that are more responsible with money.
Dr. Nadia 3:45
And one of the things that I've often seen in my work is that this programming that impacts our ability to show up powerfully, when we're in our business when we're looking to have sales conversations when we're just doing some of the work around pricing.
Dr. Nadia 4:01
I just finished leading at the time of this recording, I just finished leading a master Sales series training series. In that series, part of what we do over the five training sessions that we have together is we work on your pricing, because what I've seen is that a lot of times, the pricing that we pick is literally like we just pick numbers off the air is like oh, that sounds good.
Dr. Nadia 4:27
Or I saw this person to charge this and I and I'm like none of that. None of that is enough. We're not doing that. So we actually have an entire session dedicated to going through and actually doing the work rolling up our sleeves, taken out our calculators and doing the work to make sure our pricing makes sense for our business and that is profitable, like all of your pricing. You can't be in red, but I digress.
Dr. Nadia 4:49
One of the things that came up though, during that exercise for some of their participants, was that mindset that whole thing around money. Can I charge Enough, man, you have over 20 plus years of experience in your field. I don't know what we're talking about enough, right? Like, you will like charge too much.
Dr. Nadia 5:08
This is also one of the reasons why we do the math, because it's so easy to get caught in your head around charging, and worth and those people that I tell you, you, you need to charge what you're worth. And I tell you, you can never charge what you are worth. Your priceless, you, my dear, are priceless. You can never charge what you are worth.
Dr. Nadia 5:35
Okay, well, we get that in our bones, and let that settle in our spirit, then we can do the math. And so with that, when you do the math, it takes you out of that headspace. It takes you out of Well, I don't know. And maybe I shouldn't do that. Or it helps. It doesn't always eliminate, but it definitely helps.
Dr. Nadia 5:56
And it's important because what often happens is in a sales conversation, if we haven't done the math, or done our work, we waffle on our pricing. We don't have any foundation, we have nothing to stand on. So we're in a sales conversation.
Dr. Nadia 6:13
Someone pauses someone hems and haws someone says it can't afford it. Maybe they say it overtly or covertly or you just interpret it that way. And then if we're not careful, what do we do, we start to discount we start to backpedal, or we feel like we have to go into conversations with a convincing type energy and that none of none of that is necessary.
Dr. Nadia 6:40
So this is why we take the time to one look at your money mindset like that is the first thing we do in this training series is we talk about all the things that get in our way when it comes to sales when it comes to money when it comes to receiving. Many of us are givers. I know I have been there.
Dr. Nadia 6:57
I'm the oldest girl, the oldest child, the oldest, oldest child, female, some of that stuff that you may see on Instagram as definitely true about Nadia, however you do the work to shift it are you willing to receive because we can't give give, give, give, give. And if you're not careful, you start to see that show up in your business. And you start to sheet see that show up in your sales.
Dr. Nadia 7:21
I remember years ago, when I made the pivot to the agency, we launched the sales agency and I was still testing some different pricing models for the offer that we had then at that time, it was done for you sales support. And I remember one of my colleagues to assess been a client, we've actually been each other's quiet.
Dr. Nadia 7:38
But she told me she was like Nadia, if you're getting too many yeses, your pricing is too low. Like if you're out here have any sales conversation, then everybody's just saying yes, yes, yes, yes. Yes. She's I know, you're great. I think you're wonderful. And your price is too low, you need to increase it. And that was just like, whoa, but it's true, because no is part of the journey.
Dr. Nadia 7:58
So I really want you to take some time to think about how do you feel about money? How do you talk about money? Are you willing to receive money? Are you willing to receive a lot of money? And when I say some of these things, how do you feel? How do you respond? Are you getting upset with me for saying the word money so many times?
Dr. Nadia 8:17
What does a lot of money look like to you? Is that a million dollars? Is that a billion dollars? Is that $150,000? I don't know the answer. But I need you to sit down and really get clear on this. Because this is the key to everything. Everything. And one of the things that often comes up is this notion that we're somehow not enough that we haven't yet done enough.
Dr. Nadia 8:46
So back to my client I mentioned briefly earlier in this conversation when she's like, I don't know what to charge. And I don't want my pricing to be too high where people can't afford to work with me. But a big part of that when we got under it wasn't so much that she didn't want her pricing to be where people didn't want to work with her couldn't work with her.
Dr. Nadia 9:06
That was part of it. But that wasn't the route. The route was she didn't want to hear the word no, she wanted to be able to go into the sales conversations, and invite people to work with her. And she's all excited because she is amazing at what she does, right? And she's want everybody to be able to say yes, and to be able to serve everyone. And that's not how it works.
Dr. Nadia 9:28
And so once we did the math, and we looked at her numbers, her expenses, her time, her team's time, but she has a whole team, like we were like, your business will never grow. If you continue down this path of pricing. Now ultimately you get to make the choice like this is your business however you hired me to support you.
Dr. Nadia 9:51
And the numbers don't lie like we have the calculator and we're looking at where you are and what these numbers are around your price. thing should look like. And when we get all of those pieces in place, and of course we can you know, work on it. Well, how do you explain it? How do you help people understand that thing, you first you go first, you first have to feel and know that you are enough.
Dr. Nadia 10:18
And at the same time, you are often still a work in progress. So just like my client, who has over 20 something years of experience in her field, and let me tell you, I've seen the woman in action. She is, oh, my gosh, amazing. And she still looks like well, maybe I need more of this. And maybe I need more of that. And granted, things change over the years. And are there things are still things that she could learn? Sure. But is she good now?
Dr. Nadia 10:46
Yes. So you go, it can be a both and is not a let me wait, or let me continue to test or let me continue to work for free until I build up some imaginary number of enoughness in order to charge the value that I provide to my clients. And when you align that with actual data, numbers from your business, now you're making decisions that are strategic, and can help your business grow and be profitable.
Dr. Nadia 11:25
And you're not always stressed out, or you work with clients, and you get to the end of an engagement. And you're like, where did all the money go? Or why did it colleague was like I work just to pay everyone else? But where's that money? Like? Are you paying yourself? Are you part of this equation? And oftentimes when I have a client students exercise, and I'm like all the line items, where are you? You do work?
Dr. Nadia 11:51
Many of us still we're the visionary, the CEO, we still do we have that creative, visionary directive, but many of us still actually work in the business, we're wearing at least one other hats. So you're doing some tangible, how is it that you're paying everyone else but you leave you out. So that is something that I want you to really spend some time looking at, and evaluating and getting support and that support.
Dr. Nadia 12:16
Maybe you need a therapist, I'm not a therapist or a licensed counselor, but if you need one, we can help you find I don't know what that looks like. But I just want you to do that. So I really want you think about what that looks like for you. And how are you getting in your own way, because you have some mindset, challenges or issues or things you just hadn't really thought about? It just is what it is.
Dr. Nadia 12:43
And this is just how life is life and right now, and I never stopped long enough to really look at, okay, how am I getting in my own way. And so a story about Nadia because I always want people to understand that I'm never coming from this place of I know better than you. And I've experienced it all. And I've done it all. And I have arrived, I too am a work in progress. And so I remember even years, you probably got to the sales piece years ago.
Dr. Nadia 13:12
So this is probably a timeless recording probably about almost nearly 13 years, 12,13 years ago, when I say alright, hanging up my shingle, and we're starting a business. And there was time when I was like, I don't know if I can do this. But what if i How will I do this? What will this look like? Do I have enough experience? And what I'm doing, ma'am, you have an entire doctorate?
Dr. Nadia 13:12
It wasn't I was doing back then, ma'am, you have experience in this in this from your corporate experience, man. Were there things I still needed to learn or could learn or refine or get better? Absolutely. But a lot of that refinement come in the actual doing, not sitting in your office just collecting more and more information.
Dr. Nadia 13:56
You have to take action, and we have to get our minds right now doesn't last because he's always like, you're always saying get your mind right. And it's true in many cases, and not just in there are different instances where that advice is sage wisdom, get your mind right.
Dr. Nadia 14:15
So a couple of things that I just want you to think about as it relates to mindset myths. One of the things is that when it comes especially when it comes to sales, is that you're a born salesperson, or you have to become this person or this persona, that it typically isn't you in order to be successful in sales. That is false integrity solutions share a stat some years ago that up to 85% of your success in sales is all around how you feel about it your mindset, your attitude, your beliefs, around sales.
Dr. Nadia 14:49
So when you start to ship that things shift, but again, a big part of that is how do you feel about money? How do you feel about when the numbers add up? up, and you have to go have possibly a tough conversation, or draw a line in the sand, how you feel about that being able to stand up for yourself, that has absolutely nothing to do with sales. It has everything to do with your mindset around you and your boundaries, and understanding how that impacts your business.
Dr. Nadia 15:18
I think sometimes we make decisions in our businesses. Without information that is easily and readily available, I get that there are times that our businesses, we have to make decisions, and we don't have all the info, we don't have all the details, we gotta go we have.
Dr. Nadia 15:33
But there are also other times when we willingly ignore certain information is certain data, particularly money, and the numbers that could really help us to not only be able to generate more money, more profit, in our more revenue in our businesses, but also to be able to position us where we have sustainable businesses.
Dr. Nadia 15:55
And we're not always on our revenue roller coaster, oh, my God, I have money in the next three months, I have none, right? Like how do we build that consistency in our business. And a big part of that does lie in being willing to look at the numbers willing to do the math, and then willing to do the work that having a basic understanding of what that is? Does that mean that you have to become a CPA?
Dr. Nadia 16:18
No, you may need to hire someone to support you. And there are people out there that don't want you to have to work with them all the time. But they can help get you on the right path, so that you're making good strategic financial decisions in your business that will help your business grow and move forward.
Dr. Nadia 16:37
And so a couple of other things, too, is when it comes to sales isn't even about you. Like I know, I just talked all about your money mindset that does impact it.
Dr. Nadia 16:45
But honestly, when it's down to it, and
Dr. Nadia 16:45
Having a sales conversation, this isn't about you, that's about you serving the person in front of you. It's about you looking and really understanding, am I a good solution for the challenge that the person in front of me is having? And if the answer is yes, are we a good match?
Dr. Nadia 17:07
And if the answer is yes, then you get to extend an invitation. And then that person gets to decide if they agreed, and if they can make it work right now or if it needs to happen, and sometime in the future.
Dr. Nadia 17:21
So again, it's really important when you're looking at your mindset, because a lot of times we go into sales conversations, and we make it all about us what I want how I want it what I want it to look like how I'm feeling none of that matters.
Dr. Nadia 17:35
All of this, really, you need to deal with that before you go into the conversation because now you're showing up in service to that other person, or that other company in order to be able to support them in achieving the things that they are looking to achieve through you, your team, your company, your organization.
Dr. Nadia 17:56
And then one thing I just want to add as I wrap up for this particular episode is there are times I will not lie that it does suck to sail someday and it sucks. It can be hard. I don't want to negate the reality that there are things that are cyclical, there are things that sometimes happen that we hadn't planned on life, life's right, and so outside of doing the best that we can to our ability to just be prepared financially, and make a strategic fiscal moves.
Dr. Nadia 18:32
There are also things that I advise clients to do, because sales while it often isn't personal, it's business right? It can sometimes feel personal. And this is especially true when you are representing your business and your brand. And you're putting yourself out there and there are days when it feels more personal than others.
Dr. Nadia 18:56
Honestly I've done at this point, oh my gosh, for years at this point I've done in some way shape or form sales on behalf of others and airtime. That's not even my business. But they still sometimes feels personal. Because I know what to have in that conversation. I'm no one hearing whatever feedback that person in front of me it may be having or on the phone.
Dr. Nadia 19:18
And some days it just some days most days I will say it just rolls off and it is what it is and you know just move on. Right? And the other days when I'm emotional I'm a human I'm getting my feelings. So I bring all that to say that wants you to prepare for the days when it's not always Yes is the answer is not always go some days is of no no no, no, no file about a whole lot more no and not right now. And it does feel emotional. It can be stressful. You may really need it to work out in those moments.
Dr. Nadia 19:50
So you need to have a plan. So some of those things can look like Who are your people? I don't remember oh my gosh, I can't remember name but a company at this point but it was Don't come, I want to say was a cell phone company some years ago? No, it's like losing your fat face or your bad five or something like that was like five.
Dr. Nadia 20:06
And in that, who are the people that you can go to that's about point that you can go to and call them or reach out or message them or Voxer them or text them or whatever, and say, You know what, today is sucking. Like, it just sucks. This sucks. And they're like, Okay, give it to me. And then they tell you, okay, they give you some encouraging words.
Dr. Nadia 20:26
But more importantly, they encourage you to get back up and try again, even if that's tomorrow, I have people, you should have people to whether it's in a formal mastermind, or business coaching group, or it's just people in your life that love you, it could be a spouse, sometimes spouses don't do well in that role.
Dr. Nadia 20:42
So choose carefully, and then reach and knowing that you're going to reach out but most important is they allow you to space to vent. They don't discount your feelings about it. Because in those, the real is real. And they encourage you to get back in the game is going to be okay. I know this sucks right now. Let it all out cry if you must. But get back in the game don't quit.
Dr. Nadia 20:42
The other thing is, what are their treats? Are there things that you might do? Is there chocolate, I know for some of my events, chocolate is on hand, because hey, that's my coping mechanism, not may not be met with the most recommended one. But it works. Do you need to schedule a massage? Do you just need to go take a walk, maybe just need to take a nap.
Dr. Nadia 21:25
Or you can have your week me and some clients, we'd call this our no playlists, you have a playlist when you have those days, and you have a bunch of sales calls and you're just in it and our big call, and it doesn't go or you just need to get the nerves that maybe you need to know playlists even before you go, we will have to call it the yes playlist though. Get your pumped out, right.
Dr. Nadia 21:47
But it's something that gets you move in. It's energetic, it's upbeat, it's exciting, it's happy, and it helps to shift your mood, it helps you to realize that this moment is only temporary, and things will turn around. So there are a couple of things that I really want to reiterate when it goes back to mindset one, your money mindset matters.
Dr. Nadia 22:09
So as you're growing as a business owner, as an entrepreneur, as a business leader, I need you to commit to some sort of continued professional development, personal development, and earmark some of those dollars specific money training around how to do financial forecasts and how to really understand my numbers, how to really do my pricing so that you can make strategic moves.
Dr. Nadia 22:37
I had a client who just did our cert series and she came to one of our training called the things one of our office hours, she was ready she has she was about to go into a conversation with a I believe was like a college or university. And they were going to bring her it potentially bring her and her team in to do some training. And they charge based on how they did it at their, you know, their setup, there was like a per student fee. But there was also some sort of rev share.
Dr. Nadia 23:06
So she did her numbers, including travel, including this include all the things and we came up with the number that she had to charge her students in order for her to come home in the black and not lose money on this opportunity. And honestly, that number was hired what she was ready to say, but she was able to and she was like, You know what, Nadia, I did this, I want to make sure that I scheduled the call after we had this session.
Dr. Nadia 23:36
So we can look at the numbers. And I can go in there feeling confident that I can't go below this number, or else. I basically paid y'all to come and work like that. That's not why we do this. So this is why it's so important. Mindset, understanding the money, understanding numbers, but being willing to do the work.
Dr. Nadia 23:57
And then also are you willing to receive? How much are you willing to receive in your business, both as a business in terms of top line revenue, but then also, as a employee, or worker, or contractor in a business doing the work as a worker be like, what does that look like? And have you really considered you? I want to remind you yet again, you are enough, you're priceless. You can never charge what you are worth.
Dr. Nadia 24:25
That's why we put that aside, you're amazing, you're priceless. Let's take out a pen and paper or to pencil and paper and a calculator and do the math so you can figure out what this person needs to look like. And then also understanding that sales conversations aren't about you is really an opportunity for you to show up and serve to position yourself and really be a strategic ally. And then if you aren't a solution to someone's problem yesterday and you might have the opportunity to work with them.
Dr. Nadia 24:56
And finally remembering that there are some days where it does not All go as planned sales may suck, the launch may not launch is a flop. It's, oh, hey, what type of contingencies not just financial contingencies, although those are important, but also your contingencies to make sure you protect your mental health, your physical health, your emotional well being, so that you can continue to move forward and get back in the game.
Dr. Nadia 25:29
I'm telling you, these are some of the many insights that I share in my book sell like a lady How to Master sales, with dignity, class, and grace. And we're gonna be talking more about that during this season on the podcast. So I hope this was awesome. So here's the thing, we're introducing something new, and I'm really excited about it.
Dr. Nadia 25:48
Some of you are already on my mailing list and you respond to my emails because I send them out and I talk to you and I'm like, what's going on? And you're like, Hey, Dr. Naughty, this was happening. We're implementing a new segment on the podcast called Ask Dr. Nadia. So you have questions, and you're like Dr. Nadia, but what about this? I want to hear from you.
Dr. Nadia 26:12
So we set up a separate email address so it doesn't get lost in our day to day do to do right. Um, so email us at askdrnadia@thedoyenneagency.com. We want to hear from you. What questions do you have with feedback, guest suggestions? Things you want me to cover on a podcast? I want to hear it all? So send that over to us? And then I'll answer your questions during an upcoming episode.
Dr. Nadia 26:45
So you definitely want to make sure to tune in. Oh, and one thing I want you to put in your email because we don't have a formal form is included in the email if you are okay with me saying your name, like you know, revealing your identity. Or if you're like, I want to be anonymous. Either one is fine. We will respect your privacy but I really want to hear from you. So again askdrnadia@thedoyenneagency.com
Dr. Nadia 27:08
And be sure to put that in the show notes so you can reach out to us and I'll get to answer your questions on upcoming episodes of the podcast. So finally if you have enjoyed today's podcast please rate us like us share it let other people know about the straight talk about sales podcast and you can listen on your favorite player or we also have our YouTube channel at straight talk about sales.TV.
Dr. Nadia 27:36
All right, thank you so much for joining me for another episode of straight talk about sales. I cannot wait until the next episode because we are gonna keep the party going. More conversations around how to sell How to Master sales with dignity, class and grace. You don't have to be icky. You don't have to be slamming you get to be amazing. I'll see you soon.