Supporting your 'Business Wheel'
by Liz Almond, The Mindset Shifter
When you start a business, it can be terribly exciting. Soon though, doubts can arise and your insecurities can start to kick in. Am I good enough? Will people like me? What if I don’t do a good job and I screw up? And you find out that being in business is much harder than you thought. These insecurities will underpin whether you charge enough for your services and products as well as causing you to procrastinate and self-sabotage due to past trauma you are holding on to. Often you can be working in unproductive ways to, such as living from the belief that you must work very hard for your money, which is not true. This can put you under immense pressure and exhaust you. Your health is your wealth.
What is Money Mindset?
This is a combination of your internal beliefs about your money, health and happiness as well as your habits around managing your finances and health. It is essential that you work on your money mindset right from the beginning of your business journey. If you don’t, you may well become one of the 4/5 businesses which fail within their first year with cash flow and financial difficulties. Working on your money mindset on a continual basis, means you will find that opportunities open up for you and you will serve more people which in turn will lead to you creating a higher income.
It is important that you charge your full worth and price your services according to the true costs of your business and fund it by making profit on each sale. Maintaining good accountancy and budgeting practices are essential too, as is investing in your own personal development as a business owner.
If you would like further support with improving your money mindset, get in touch!
The Mindset Shifter of Insightful Minds
Small Business Mentor, Therapist and Coach
LinkedIn: Liz Almond