Have you hit an income plateau lately? Perhaps your profits have stalled, and you’ve found yourself stuck at 10k, 20k, or even 50k months for what feels like an eternity. No matter how many new strategies you try out, you can’t seem to shift past your current level of income. And while you’re grateful for the wealth your business is generating, you know you’re ready to break new ground and reach your next-level goals. If that is the case, this post goes out to you.
First of all, let me assure you that income plateaus are totally normal in business. Over the last seven years, I’ve certainly experienced my fair share of them. And while at the time they seemed to be setbacks, in hindsight I can see that they afforded me the invaluable opportunity to upgrade my money mindset, clear blocks I didn’t even realize were there, and make space for more wealth than I ever thought possible.
That’s the first piece of advice I’m going to give you about your current money plateau: every time you catch yourself thinking about it as a failure, try to reframe it as an opportunity in disguise. It may not seem like it right now, but that’s exactly what it is. Our thoughts and words impact our actions (and our bank accounts!) after all—so it goes to follow that once you stop seeing yourself as being restricted, you’ll open up room for new options to unfold for you.
Here are some of my other tips, tricks, and techniques to help you clear the path ahead.
Firstly, put it in perspective
As ambitious women, we have a tendency to treat every dip and drop as a signpost of failure when in fact, growth is very rarely linear, and setbacks are a fundamental part of any business journey. It’s never been easier to start and scale an online business, but this initial ease often sets us up with false expectations of how our growth will play out in the long run. That’s why we feel so dismayed and discouraged when our revenue slows and no longer follows the exponential pattern it once did. These emotions are valid—but we shouldn’t allow them to impact our actions or infiltrate our growth mindset.
In nature, a plateau is defined as an area of level high ground (notice I say high ground, not low ground). By definition, this is a place of balance and stability—offering the perfect vantage point from which to look out at the landscape around you and reflect on how far you’ve come.
With this in mind, I urge you to remember that reaching an income plateau is not the be-all-and-end-all. It doesn’t mean that your business is failing, or that you don’t have what it takes to succeed. It simply means that your past labors aren’t paying off, and now, it’s time to try out new inputs. Treat it as the sign you’ve been waiting for to reflect on your business and your role within it, and make much-needed changes in both your mindset and strategy. You never know—this plateau might end up catapulting you into a brand new level of success.
Check in with your current comfort level
Sometimes, we subconsciously settle for what we know because it feels safer to stay where we are than to venture into unknown territory. This goes for money, too. Staying in the same income bracket for months on end is a clear sign that you’re wrapping yourself up in your comfort zone—and while you may say you want more money, you might have some limiting beliefs and stumbling blocks acting up under the surface.
I invite you to reflect on the following questions:
- What are your fears around your next level of income? Are you harboring feelings of guilt and shame around outearning your partner or your parents, or reluctance at having to pay a higher tax rate? Maybe you’re still hung up on the idea that rich people are evil or greedy? Pay attention to the fears that come up for you when you think about your next income goal, and where you feel them in your body.
- Are you making time each week to reflect on and rewrite your money story? Most often, our money blocks evolve with us—so even when we think we’ve shifted past them, they come back around in new iterations. For example, I’ve always believed that I have to work hard to earn money, and every time money seems to flow to me easily, my subconscious suggests ways to complicate the exchange. Being hyper aware of your recurring money blocks will help you to catch them in their tracks, and prevent them from doing long-term damage. If you’re new to rewriting your money story, start by answering the prompts I’ve outlined in this blog post.
- Have you been avoiding doing revenue-generating work in your business? Knowing where the plateau started will help you to understand how to move past it—which is why it’s so important to take ownership of your role in the matter. As one of my favorite authors, Marianne Williamson, writes in The Law of Divine Compensation: “It is only when we have the courage to face things exactly as they are, without any self-deception or illusion, that a light will develop out of events, by which the path to success may be recognized.” So be brutally honest with yourself—have you been showing up and doing the work? Are you busying yourself with tasks that could be better subserved by someone else, or actually working within your zone of genius? Is there a revenue-generating idea you’ve been sitting out because you haven’t felt ready? Use those insights to guide your future actions.
- What other areas of your life and business have stalled or stagnated? Often, our finances are a reflection of what’s going on for us holistically. Perhaps you’ve been neglecting self-care lately or slipping back into some harmful habits. Or maybe you’ve lost the drive you once had to educate yourself and develop your skills—and it’s time to invest in an aspirational mentor or join a mastermind that puts you among like-minded people. Whatever it might be for you, making motion your priority in all aspects of life (not just your business) will help your money move, too.
Name and claim your money goals
Finally, one of the most common reasons I see my clients getting stuck at a particular income level is that they are afraid to name and claim their money goals. Think about it: if you are ashamed to speak your money goal out loud, and really feel that it’s possible for you to reach it, how could you possibly see it through into existence?
If there’s one thing you take away from this article, Lovely, it’s this: from today forward, commit to being clear, confident, and courageous in your pursuit of wealth. Name your goal. Speak it out loud. Feel into it. Script on it. Have a clear purpose for that money (here’s an exercise to help you do just that). And most importantly, give yourself permission to reach it.
I already know that it’s possible for you to push past this income plateau, Lovely. But it’s up to you to decide that for yourself.
So what’s it going to be: stay stuck in place, or use this experience to springboard you to your next level?