4 Steps to a Better Money Mindset for Small Business Owners

Inspired by and adapted from the work of Tori Bornholdt, who originally shared these four steps in the June 2026 issue of The Journey.

Quick answer: A better money mindset comes down to four steps — raise your prices, know your ideal client, automate and outsource the work that drains you, and stop measuring yourself against competitors. If you don’t believe in the value of what you offer, you can’t expect clients to either. Constantly undercharging doesn’t just cost you money; it breeds resentment and burnout.

Why does a good money mindset matter? Because if you don’t see the value of the service you offer, you can’t expect others to see it either. When you watch competitors charging more and booking confidently, you need to know the same is possible for you. There’s room for everyone to make money.

These four steps come from a photographer who went from $40 sessions to an average of $3,000 per client — someone who knows the nerves that come with charging what you’re worth.

Step 1: Raise your prices

No, really — raise them.

Easier said than done, right? But ask yourself: what would happen if you increased pricing right now? Could you raise prices by $100? Even $10? What are you actually afraid of?

Most people immediately think, “I’m afraid of losing clients.” The negative self-talk of assuming clients can’t afford you has to stop. You can’t build a sustainable business around fear. If you want clients to value your work, you have to value it first.

Your pricing should reflect your time, experience, talent, service, and final product. Constantly undercharging doesn’t just lose you money — it creates resentment and burnout.

Step 2: Know your ideal client

Who is your ideal client, really? You can’t dance into the perfect market if you don’t truly know who you’re trying to sell to. Your homework is to make a list of who that person actually is — and to be honest about it.

Is your ideal client looking for budget-friendly? Probably not. Think about high-end stores you’ve been in. Did they have sale signs plastered everywhere? Definitely not. So why are you doing that? Sales, buy-one-get-one offers, and endless discounts may be sending exactly the wrong message if your goal is to attract clients who value the full experience.

Then go deeper: do your ideal clients invest in travel, quality, convenience, or experiences? Make that list, then ask where you could naturally network with them — galas, boutiques, salons, local businesses — or what collaborations could place you inside their circle. There is always someone who can afford you. Your job is to figure out who they are.

Step 3: Automate and outsource what drains you

If you’ve been in business longer than five minutes, you know plenty of business tasks aren’t especially fun. And when a long list of dreaded tasks keeps getting procrastinated, that pile is a fast track to burnout.

Make a list of the tasks you dislike, then find ways to lessen the burden so you can focus on the parts of business that actually make you money. Many tasks — scheduling, automatic emails, workflows, even bookkeeping — can be automated inside tools like 17hats. And what you can’t automate, you can often outsource: dreading email marketing or website updates? Hand them to someone who does them well.

Knowing when to invest in help is a major key to a healthier money mindset. Spending money to free up your time isn’t a luxury — it’s a strategy.

Step 4: It’s you vs. you

We’ve all heard that comparison is the thief of joy. Nothing kills momentum faster than feeling good about your business, then seeing a competitor and questioning everything. The voices start: “Why can’t I get that kind of client?” “What are they doing that I’m not?”

A good money mindset is about more than affirmations. Once you have a solid foundation, it’s time to stop measuring your success against someone else’s highlight reel. Imposter syndrome is real, and it can quickly rob you of confidence.

A useful rule for social media: do the accounts you follow inspire you more than they fuel negative thoughts? If someone consistently makes you feel less than, it’s okay to unfollow — even if they’re not doing anything wrong. No one is watching your follow list. Protect your mindset, because it shows up in how you lead, sell, and serve your clients.

Putting it together

Look honestly at your pricing, your ideal clients, your systems, and your self-confidence. There is room for you to make money — and your value starts with you.

Frequently asked questions

What is a money mindset and why does it matter for business?
Your money mindset is the set of beliefs and emotions that shape how you price, spend, and value your work. It matters because clients take their cue from you — if you don’t believe your service is worth its price, it’s hard to convince anyone else.

How do I get comfortable raising my prices?
Start small and concrete. Ask what would happen if you raised prices by even $10–$100, and notice the fear behind your hesitation. Pricing that reflects your time, skill, and results is sustainable; chronic undercharging is not.

Why does undercharging lead to burnout?
When your rates don’t reflect your effort, you take on more work for less return, build quiet resentment, and have no margin to invest in help. Over time that combination drains both your finances and your energy.

How does comparing myself to competitors affect my business?
Comparison fuels imposter syndrome and erodes the confidence you need to price and sell well. A healthier approach is to follow people who inspire you and step back from accounts that consistently make you feel inadequate.

What’s the first step to a better money mindset?
Value your own work first — usually by examining your pricing and raising it where it’s too low. Everything else, from attracting the right clients to protecting your time, gets easier once you believe in what you offer.

About the author of the original concept

These four steps come from Tori Bornholdt, a senior portrait photographer based in Eureka, Missouri, known for creating a full-service portrait experience that feels personal, polished, and worth investing in. She helps clients feel confident from planning to final artwork while also educating photographers on pricing, sales, and building a sustainable business. Connect with her at toribornholdtphotography.com. Read Tori’s full article in the June 2026 issue of The Journey.

A clear view of your numbers makes confidence easier. Start a free 7-day trial of 17hats to handle scheduling, invoicing, and bookkeeping in one place — so you can focus on the work that lights you up.