3 Simple Ways To Give Your Business A Financial Fresh Start For This Year!
As a woman entrepreneur, whether your business is robustly moving forward or you’re just getting started, its common to have a bit of “emotional baggage” (or negative money B.S. as I like to call it) you may be carrying around, that is slowing you down. For example, maybe you have debt or perhaps you’re ready to increase your fees. but you’re feeling a slight twinge of guilt or fear that people won’t pay. Or maybe you see the perfect mentoring program you want to invest in but your spouse is skeptical that it will be a wise investment. Once thing is certain, if you carry past baggage with you into the new year, you’ll have a much tougher time creating success. which is why this is the perfect time of the year to give your finances a fresh start.
The mistake that most women entrepreneurs make is not knowing exactly what type of financial actions they should take. Let’s be real, it just isn’t a topic that is discussed. which is why i’m sharing 3 of my BEST tips with you on how to give your finances a fresh start as you head into the new year. And while you may not be able to wave a magic wand or sprinkle a little pixie dust and magically make your debt dissapear or make your husband change his mind, you can create a plan that addresses the emotional and practical aspects that make of every woman business ownere’s financial future.
Tip #1 – Stop Being A Victim of The Past and Falling Prey to Your Money B.S.
Women hold themselves to a level of perfectionism that leaves no room for mistakes. Trust me we’ve all lent money to people we shouldn’t have, let worrying about what others think keep us playing small, given away our power with money, or we’ve made decisions to purchase something that we later regretted. You can’t change the past but what you can do is stop carrying it around with you! So instead of feeling guilt or shame or blaming fate or circumstances for what’s happened, learn to forgive yourself. Forgiveness is an act of the will, extreme compassion and understanding for the tiny part of you that was doing her best when you made those decisions.
Tip #2 – Don’t Let The Debt Demon Stop You From Growing Your Business
I often this from many women entrepreneurs, ” Shameca, how can I invest in growing my business when I have debt?” Or they’ll say, ” I don’t want to pile on more debt”. First realize the best way (or chance) to pay off your debt (most likely) will be by growing your business, because you’ll have the increased cash you need to make more than your minimum monthly payments. Next, understand that investing in growing your business while you may still have debt makes perfect sense if you are committed to taking action and implementing. I’ve metored hundreds of women entrepreneurs on my simple cash flow debt pay-off strategy and i’ve discovered that those who take massive decisive action in their business are the ones who also pay off their debt faster than others.
Tip #3 – Create Boundries Around Money That Empower You And Others
Women tend to cave in on their boundries because in some way they feel responsible for other people’s feelings. But giving in means giving up on your self-respect and losing the respect of others. And those yucky feelings and negative energy ofter flow through to other areas of your business, impacting your fees, the types of clients you attract, and so much more. My advice? Its far better to experience a moment of discomfort while upholding a boundary than it is to untangle a money mess later on. No I’m not saying you need to be the wicked witch when it comes to maintaining a boundary. Boundaries are easily upheld from a place of kindness, consideration, and connection, all of which helps you stand in your power with confidence!
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Shameca Tankerson, is a Speaker, Trainer, Author, and Cash Flow Success Mentor to entrepreneurs and service professionals. Using a proven system, she opens a candid dialogue about money that teaches her clients how to breakthrough to their next income level and expand into a cash flowing business with a new collaborative business model that is liberating, Inspiring and Powerful. To get your F.R.E.E. “Spark Your Cash Flow Financial Success Kit” – Making Room For Money: 5 Financial Mistakes Entrepreneurs Make That Sabotage Their Cash Flow (And How To Avoid Them). Visit: http://www.MakingRoomForMoney.com
Posted on February 25, 2012, in Business Finance, Business Management, Encourage Me Girl, finance, Financial Services, money and tagged How to Fund Your Business, SBA loans, SCORE, small business loans, start up capital, women owned loans. Bookmark the permalink. Leave a comment.