Your Mindset Might Be Costing Your Business Money

Profit First Coach

The other day I was thinking about why I became a money coach. In the early 2010s my wife and I decided to make a change in how we handle money. We were stuck in the paycheck to paycheck cycle and no matter how much money we made, the result was the same. After changing how we handled money, I became "the money guy" in my work and friends circle. I loved talking about finances and people would often ask me about it. When I got the itch to turn this into a business, I jumped on Google and searched, "How to become a financial advisor." As I dug deeper, I realized being a financial advisor (or planner) wasn't what I was looking for. I didn't want to manage people's money, I wanted to help them change how they managed it. And as time went on, I became committed to helping business owners change how they manage their business finances. There are a lot of factors that affect how we behave with money in a business, both externally and internally. One of the most important ones is mindset. In fact, our mindset matters as much as any physical factors- such as sales or expenses.

Profit First Coach

How we label ourselves becomes our reality. Labeling yourself as having no self-control gives you less self-control. Labeling yourself as unorganized makes you less organized. Labeling yourself as a procrastinator results in more procrastination. Labeling yourself as failure leads to more failure. As you face financial trials in your business (which we all will), the first place to focus your attention is your mindset. Talk to yourself the way you would a friend. If a close friend came to you with a business failure, how would you speak to them? Would you say, "You're such a failure. Your business is going to crash and burn!" I'm guessing not (otherwise you'd be a terrible friend). Remember, failure is a part of growth. It's a result of you taking a courageous step, putting yourself out there, and continuing to push yourself out of your comfort zone.

Ready to take your business finances to the next level? Knowing "what" to do is such a small piece of the puzzle. Let's skyrocket your business' financial potential. Schedule a free coaching call now.

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