subject: How To Manage Your Money Mindset To Create Financial Success [print this page] Each of us has our own particular money story - a result of the environments we've been exposed to and the people we have been surrounded by. Often what we heard and experienced, particularly during our early years, shaped our beliefs and thoughts which over time influenced and informed our money mindset.
Running a business will bring the majority of us face to face with our relationship with money whether we choose to acknowledge it or not. This is as true for the millionaire as it is for any small business owner. Some people who fear never having enough money or security in their lives are driven to produce more and more - there is never enough. Others who believe that earning lots of money is greedy, for example, can end up giving stuff away for free and undervaluing their services.
When you begin to understand your money mindset you will see how patterns emerge in your business - whether undercharging or charging what you're worth, managing or neglecting your finances, spending on visible signs of success, failing to invest in you and your business, planning ahead or not keeping track of your cash flow.
But reality is only based on our own perception and perceptions can be changed. So if you need to get a handle on business finances start with understanding your mindset .....
1. Work out the weak spots in your relationship with money - do you take on risky investments or do you hoard it 'just in case'? Do you keep track of your money or are you happy as long as there is something in the bank account? Does the thought of making lots of money overwhelm you or fill you with excitement? When you really understand how, consciously or unconsciously, you deal with money in your business then you can make better or different choices and decisions.
2. Focus on developing your self-esteem. I notice a lot of business owners who struggle to value themselves and what they do. This shows up in a number of different ways such as not asking for the business, missing sales opportunities and taking rejection and failure much too personally. When your self-worth increases so will your confidence in working with others and, as a result, you will naturally attract ideal clients.
3. When you let go of negativity, stress, worry or fear around money you will transform the way you conduct your business. Instead of operating from a place of scarcity and 'never enough', which leads to limited thinking, you will become more creative and open to the many possibilities and opportunities that already exist to generate revenue.
Putting your attention on managing your mindset and increasing your financial awareness on a regular basis will help you create a much more sustainable and profitable business.
by: Susan Tomlinson
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