The majority of entrepreneurs I meet are mostly or completely ignoring their money.
For many folks, just the idea of numbers and spreadsheets and bookkeeping programs is intimidating, cramps their fluid style, or turns them off completely. Others think their business is so simple, why would they bother tracking it?
Plus, all of us hold deeply rooted and often invisible beliefs about money that are etched in our psyches from years of familial and cultural influence.
Here are some of the common hidden beliefs we have about money:
- I’ll never have enough
- Having money requires working so hard I’ll burn out
- Rich people are greedy
- Money is the root of all evil
- I don’t deserve to make money
- Money is complicated or causes problems/pain
And these beliefs, when left underground to fester, can actually block you from earning money.
Thing is… I’m pretty sure most of you truly desire to make at least some money in your business.
So it’s time to start paying attention to your money. Give it some love. Honor it.
When you pay attention to your money, even if you have to get over a big “ick” factor to do it, here’s what happens:
- You start to dislodge your stuck places around money by facing it and honoring it, instead of shying away from it
- You feel empowered as the true leader of your business, one who has their finger on the financial pulse of it
- You create an energetic container for your money to flow into, so that you earn more money. “What you appreciate, appreciates,” (so says my favorite money teacher, Lynne Twist)
There are two key money practices you cannot ignore if you want to create a thriving business. One is energetic and one is very practical.
1. You need to explore and shift your underlying beliefs about money.
This is a long-term project. The first step is identifying what tapes play in your head about money without you even thinking about it. Then comes the work of shifting those old beliefs into more life- and business- affirming beliefs about money – and constantly noticing when you slip back into your old ways so you can keep yourself on track.
2. You need to track your money.
Even if it’s just a simple spreadsheet (but ideally a simple bookkeeping program), please start tracking the money you earn and the money you spend in your business. Set a financial goal and track each month to see how much NET profit you earned (income minus expenses).
The coolest part is that these two practices are mutually reinforcing. When you track and pay attention to your money, you start earning more, and your beliefs about money begin to shift. When your beliefs begin to shift, you start to earn even more money. And so on!
Where do you spend your time? On the energetics or the practicalities? Where do you need to put more focus?
I’d love to hear from you.
If you want support in getting clean, clear and focused on both the practical and energetic sides of your money – so that you can earn more of it – join me for the fall round of Roots of Business.