Are you having trouble growing your business? It could be that your money mindset is affecting your behaviour and limiting the growth of your business.
Almost everyone has limiting beliefs and mindset issues that hold them back that formed unknowingly around something. But money mindset issues lead to this problem due to the lack of financial education that most people have. Most people learn everything they know about money from their parents. What parents know is 100 percent tied to their own education and financial class they were born into. This type of knowledge is more likely to be passed forward through close family relationships rather than school education on the topic.
These mindset issues show up easily with proof. It shows up in that eBook you wrote 6 months ago that you haven’t launched because you think your writing isn’t good enough. But you haven’t hired an editor who could advise you and you’re just sitting on it. In fact, you might have already started on another project instead of launching the first.
Mindset issues show up because you spend hours trying to make graphics using software you don’t understand, when you have no talent for it, instead of hiring someone to make you an amazing graphic that you could easily have by the end of the week while you get other work done that is in your zone of genius.
Mindset issues show up because you still haven’t bought that tool you need to make your business run more smoothly. Mindset issues cause you to second guess yourself because you don’t trust or believe in yourself. You’re afraid you’ll make the wrong choices, so you don’t trust your instincts, and you don’t challenge your internal ideas.
If you’re slow (or never) to launch, afraid to outsource, or not buying tools that you need to properly run your business, then it’s more than likely you suffer from some form of mindset issue. The first issue that most people end up having is a money mindset issue. Money, whether we like it or not, has been given an enormous amount of unearned power in our culture. It’s emotional.
Those emotions can cause you to react illogically to criticism, not trust other people to do anything for you (mostly because you have no idea what you want), and bury yourself in busy work that doesn’t matter to avoid revenue generating activities that do matter. Do you see a trend?
If you’ve changed your launch timeline several times, changed direction numerous times, found a more magical niche – any excuse not to launch or promote your offers, you need to examine your thought process. Then, you can identify the money mindset blocks you’re dealing with so that you can improve your thought process.
Our money mindset can also lead us to avoid facing our finances. It’s quite common for people to develop negative beliefs or fears about money, like feeling overwhelmed by numbers or thinking they’re not good with finances. When we let these limiting thoughts take over, we might subconsciously avoid looking at our finances altogether.
The first step to breaking free from this avoidance is to recognise that it’s happening. Take a moment to reflect on your feelings and thoughts about money and business finances. Are there any anxieties or worries that make you hesitant to confront the numbers? Acknowledging these feelings is crucial to making positive changes.
Next, try reframing your mindset. Remind yourself that facing your finances is a crucial part of running a successful business. Embrace the fact that you can learn and improve in this area, just like any other aspect of your life.
To overcome the avoidance, start by taking small steps. Begin by looking at your financial reports and bank statements regularly, even if it feels intimidating at first. Familiarise yourself with the key financial metrics that matter for your business, and don’t be afraid to seek help or guidance from financial experts if needed.
Surround yourself with a supportive environment that encourages open discussions about money and finances. Share your concerns and challenges with trusted mentors or your biz besties who can offer valuable advice and support.
Finally, be patient with yourself. Only by challenging your thought process, which can be uncomfortable, can you overcome these types of mental blocks about money. But I’m sure you agree that your money mindset is important and that you want to be successful, responsible, and happy at the same time. It’s all possible once you are open to the idea. With determination and a positive outlook, you’ll gain confidence and be better equipped to manage your business and finances effectively. You’ve got this!
If you’re thinking about working with a money management coach, book in here to for an obligation-free chat with me about your needs.
