Every entrepreneur is resilient and passionate about their business. After all, we work hard to build and grow our businesses so it has to be something we love.
Every entrepreneur has a different story though and no beginning is ever the same. Maybe you are paying off a monthly loan that funded your business, were lucky enough to inherit your startup fund, worked hard to squirrel it away or started with nothing.
Whichever place you come from if you are smart about money and your finances the payoff will be worth it.
It’s tempting to compare your story with your competitors or colleagues and find yourself falling into a mindset of comparison and jealousy. The first step to creating a positive relationship with money is to stop that right now. I know it’s hard but the only person you need to worry about is yourself and your own circumstances. Focus on what you need to do in order to accomplish your goals.
There are a few simple steps to focusing on your money mindset and improving your financial path:
- Get educated: give yourself a big, hearty pat on the back because you are already doing this right now just by reading this blog. Take some time to have a look at whether there are business or personal finance workshops you can take in your area, if you are in Perth, WA you can check out my latest workshops here. Visit your local library and see what books they might have on both finances and mindset.
- Be grateful: even if you only have a few dollars in the bank start by being thankful you even have that. If you have to put an emergency purchase on your credit card be thankful you have that ability rather than beating yourself up about not having any savings set aside.
- Give yourself permission: to earn more, to save your money, to pay off that credit card. Think about what stories you are telling yourself unconsciously that are creating a mindset that isn’t in synergy with your goals.
- Take control: your finances are ultimately in your hands. You are the one who is earning the income and the one who is spending it. Think about where you are giving away your power. Do you have subscriptions that you are paying for that you don’t need? Are you spending money on purchases that are not in line with your goals? Have you settled for an hourly rate that is too low? You can download my hourly rate calculator here to work out how much you should be charging.
Just by considering these points and thinking about how mindset is affecting your real life finances you have already taken a step towards a more empowered financial future. We can not change the things we aren’t aware of but when we are aware of them we can’t help but change them.