If you are starting up your own business, money will probably be one of your main concerns. For most people, maintaining the flow of capital to their business is a major challenge. Once possible grants and subsidies have been secured, and the first client is on board, things look rosy and that’s great; but if you don’t remain vigilant on money matters, you run the risk of ‘leaking’ money for no apparent reason later on…So how can we protect ourselves?
A lot has been written on the subject of money and how to make it. However, one of the biggest lessons I have had to learn as a business owner (and am still learning) is that how you THINK about money heavily influences how it flows to your business. So that is what I’m going to address here.
If you’re having financial trouble of any kind and/or your cash flow is suddenly limited, it’s time to do the following ‘mindful money audit’:
1) Do you have any limiting views about money? By this I mean: Were you brought up to the tune of “money doesn’t grow on trees” or told that having a lot of money automatically meant being a bad, maybe even immoral, person?
How money was handled in the family when we were growing up can have a long-lasting impact (like the ripples on a pond when you throw a pebble) on how money flows to us in later life. Sometimes we are not even aware that this old “programming” is affecting us now until we stop and really think about it. Such negative beliefs will definitely impact on your profitability.
So what can we do?
Well, once you have identified any limiting beliefs, the best antidote is to start thinking differently. Start using affirmations – positive statements you can recite to yourself like a mantra: “It’s ok to have lots of money”. “Money and abundance flow freely to me”.
”I welcome money and all it brings into my life”
2) Motivational speaker and author Cheryl Richardson says: “Money flows into our life when we become a good steward for the money that we already have”*.
How much of an overview do you have about your current and long-term financial situation? Is there anything you are trying hard to ignore?
Having an overview of incomings and outgoings at all times is essential, as is the elimination of debt and borrowing capital as soon as possible. If you’ve got debts to pay off, organize a timetable where you start paying these off at regular intervals. Don’t fear tax demands: Paying tax, like paying all bills, should be seen as proof of our own solvency. Think differently about such demands – welcome them and regularly affirm: “There is always enough money to pay everything I owe”.
3) Finally, be vigilant about how you speak about money and money matters. Just like positive affirmations, making a negative statement out loud about your cash flow situation will reinforce any problems you are having. Instead, tell everyone you meet: “My business is a goldmine.” Avoid phrases like “Things are a bit tight at the moment” or “I’m never going to reach my targets…” These statements will weigh you down.
If you are interested in learning more about how positive thinking and speaking affect your financial well-being, as well as finding out how to make more money in general, you might like to take a look at the following books:
Think and Grow Rich, Napoleon Hill
The Science of Getting Rich, Wallace D. Wattles
The Rules of Wealth, Richard Templar
Money and the Law of Attraction, Abraham Hicks
How to get from where you are to where you want to be, Jack Canfield
Til the next time, Stay profitable!
(*At the “You can have a wonderful life” Workshop in Hamburg, 03.03.13)