Math has given me so much in life…
A beautiful, spacious home, a team of domestic support, a great education for my children, a 57-acre horse ranch, where I can live with no intrusions aside from the gentle sound of birds and ponies whinnying far in the distance…
And yes, I said math.
Because before there is money, there is math.
Every investment in my life began with a vision, and every vision was accompanied by mathematical calculations, so I could determine exactly how I would turn that dream to reality.
If all this math talk makes you a little palm-sweaty, ready-to-delete-this-email nervous, I get it — especially if you identify as a woman. Research reports that growing up, girls tend to have lower confidence and higher anxiety than boys do when it comes to math.
Why? Because society is constantly telling us that all these numbers are just not for us. That we shouldn’t worry our pretty little heads about it.
But research also tells us that women investors have been outperforming their male counterparts for more than a decade.
So, take a deep breath (inhale… exhale…), and stick with me here, because you can do this — you can do the math you need to uplevel your entire life.
Let’s take a look at some Million Dollar Math.
Imagine you’re a Nutritional Therapist, and your goal is to make a million dollars in your business in one year.
To reach your goal, you need to make some calculations.
Right now, your 1:1 therapy sessions cost $200. That means you’d need to sell… *tap-tap of calculator buttons*… 5,000 1:1 sessions in a year to hit a million.
Sheesh! That’s a lot of therapy. Like, an impossible amount of therapy, in fact.
So, what are your options? Well, you could raise your price to $500 per session. Then you’d need to hold 2,000 sessions in a year.
Still a lot, but you’re onto something here, aren’t you?
If you raise your price to $1,000, you only need to sell 1,000 sessions. $2,000? 500 sessions. And so on, and so on.
Okay, this is promising. But now you’re wondering if there might be another way to swing it.
What if you shifted from working session-by-session to a membership model? Maybe you could create an online membership program with on-demand content for your clients.
You pull out your calculator again. If you had 2,000 members who stuck around for 12 months… you’d need to charge them $42 a month to hit a million in one year.
What if you had 1,000 members? Then you’d need to charge $83 a month for a year. And 500 members? Bump it up to $167 a month. And so on, and so on…
Easy peasy, right?
By doing the math, you break down the big-picture goal of becoming a millionaire, so you can build out a concrete plan to keep you on track and actually make it happen.
And suddenly, the path to millionaire status is clearer, and therefore more possible.
Suddenly this huge goal turns into a bunch of smaller goals.
Suddenly this huge goal is totally within your power to achieve.
Ahhh, the sweet clarity of calculation.
Now, I have 2 questions for you…
1) Do you want to be a millionaire?
And 2) How much are you charging for your product or service?
If your answer to question #1 is YES (which of course it is — and honestly, if it isn’t, you can unsubscribe)…
… but your answer to question #2 doesn’t quite add up when it comes to that Million Dollar Math I just laid out for you….
Then it’s time to raise your prices.
I usually tell folks to just go ahead and double whatever they’re charging for their product or service, right now. Yes, double.
But you can also just do some math.
Consider how much you want to make, and by when, and calculate how your pricing structure and business model can shift to support those goals.
Maybe you need to triple or even quadruple your prices to reach your yearly goals.
Or maybe you need to double your prices, and work on increasing your client base to get there.
And if you’re not sure of your exact financial goals, then you need to calculate your Million Dollar Vision.
Consider your home, transportation, wardrobe, self-care, household help, recreation, education, charitable giving, etc.
Consider every category of your life, and ask yourself: in each of these categories, what upgrades would give me more time, energy, peace, power, and joy?
Do you want a bigger home, or some major renovations? A nanny for your kids? International vacations once, twice, or three times a year? More surplus cash that you can invest every month?
Don’t hold back any of those desires.
Give yourself permission to imagine and create a vision for your life. Be extravagant with your dreams, and don’t assume anything is out of reach.
Once your dreams are clear, revisit each category (home, self-care, etc.) and estimate how much money, per month, it would cost you to make these upgrades.
Figure out exactly how much your dream life costs.
Is it $10,000 per month, $35,000 per month, or what? Find the monthly number.
Because to bring this vision to life, you have to understand — on a practical level — what is required of you to make it more than just a daydream.
You can’t just snap your fingers and expect everything to fall into place.
You have to put price tags, timelines, and objectives on every step it will take you to get to that big vision.
You have to do the math.
All those dreams you listed? That’s your Million Dollar Vision. Read it out loud. Feel and imagine just how much you could accomplish with that money.
Let your Vision motivate you to double your prices — or raise them according to your calculations — right now.
And if you need help getting over the mindset hurdles stopping you from raising your prices…
Or figuring out how exactly to calculate your vision…
Or support with scaling your business to accommodate more and more customers…
Or all of the above…
Get on the waitlist for The Club, so you can be the first to know when we open the doors again.
Our members have access to countless courses and resources, so they can envision the life they desire, and make the money they need to enact that vision.
And while you’re waiting for The Club to open, read my book.
(Million Dollar Pricing = chapter 8. Million Dollar Vision = chapter 6. Life-and-bank-account-changing lessons = every page.)
I can’t wait to see what a little math makes possible for you.
xo,
Rachel
