Piggy savings bank
Creative Commons License photo credit: alancleaver_2000

We’ve been talking about money both as a concept and as something concrete that you use in order to achieve your business goals. In our last post, we talked about some of the magic thinking that people have surrounding money. Today we’re going to talk about the limiting or not useful ideas business people hold that lead to bad business decisions. You could have some and not even know it!

Secret Thoughts

Everyone I’ve ever worked with has some underlying view of money, perhaps established in the past and not always helpful, that affects their current decision making. How many of these sound familiar to you?

  • I don’t deserve it.
  • I deserve it.
  • They owe it to me.
  • I’ll never have it.
  • I should have it.
  • I’m not worth it.

Head Case

How do you know if your mindset about money is causing trouble in your business? Look out for things like these:

  • Your business consistently fails to grow or thrive while others in your niche are moving forward
  • You often blame outside influences (hosting service, the weather, customers) for poor results
  • You put off reviewing or even doing basic management and accounting tasks
  • You research opportunities and plans but never make a decision
  • You collect lots of resources on business but don’t move forward

Take control

Simply being aware of your money mindset can be all you need and is a necessary start. Start by recognizing the truth of how you approach and relate with money and the things it means to you. There are lots of ways to work on this so keep trying until you find something that suits you. You’ll find resources for journaling, support groups, mastermind groups, mindfulness exercises, reading material and informal chat groups throughout the web, on Twitter and Facebook as well as the real world in your community.

Start where you’re at by assessing your current situation and money management style. Note any areas that give you particular problems like recordkeeping or decision making. If you’re not sure where the problem is, ask someone who’s not too close to you whose advice you trust. Choose an area to focus on and set a small, manageable goal and use your chosen methods to move toward it. This is real work, as valid as any in your business, so don’t be afraid to ask for help.

Do it

Take control of your money! You have nothing to lose except trouble.

Tell Me

Does this sound familiar? Tell me in the comments what your money mindset is and how it helps or holds back your business

Need Help?

If you recognize some of these patterns in your business or need a nudge toward a solution, I can help. Send me a note, tweet me, or give me a call, and I’ll be happy to work with you to move your business forward.