Posts Tagged ‘Fun’

Do You Have Any of These Business Money Behaviours?

March 21st, 2022

For everyone, dealing with money can be challenging and sometimes well… tiring. In terms of business, many entrepreneur’s (creative and otherwise) feel that business money matters are practically insurmountable and they will never be able to understand what they need to know and what is the most important for their business.

What Exactly is the Problem?

From working with many entrepreneurs – there are 2 overwhelming problems that come up regularly, regarding handling business money and dealing with finances:

1. Confusion

2. Indifference

This situation is often due to:

• Limited knowledge about what managing money in their business really means

• Lack of clarity as to how to move forward in order to work with their business money

Knowing that you have a problem with your handling your business money is not always apparent and it can take some real observation of your behaviour to uncover if you really have any challenges.

Here are some indicators that your enterprise money management might not be where it should:

you ignore your bookkeeping and/or you don’t understand it
you never look at your bank account balance
your business bills are accumulating
you are unsure how to manage cash
you don’t know how to collect from clients/customers
you don’t have proper budgeting in place
you ignore your business mail
you are transferring your own money in the business
you are not taking a salary or reasonable salary for yourself
you don’t have a good set of financial statements
you don’t understand business financials
you don’t track numbers on a monthly basis
you don’t review your business numbers on a regular basis
you avoid or don’t have monthly or quarterly money goals
you can’t honestly create proof that verifies if your business is viable

Well what did you discover about yourself with your business money?

While this list is not intended to scare or frighten you – it is designed to get you thinking and make you aware of what is causing your problems and know that it will continue to do so until you fix it!

You need to start thinking about what your priorities are, where you are and where you likely should be.

You see, what you likely are lacking is…

To understand enough about your business money, so that it’s meaningful, but not so it becomes overly complex.
Have an attitude shift and knowing a few key strategies – you will find that it isn’t boring at all. Logically, how could it be – ITS ALL ABOUT YOU AND YOUR BUSINESS & FUTURE!
To feel and see the “money puzzle” fit together and that it all makes sense TO YOU AND YOUR BUSINESS.

Taking the necessary steps to improve your relationship with your business money will give you renewed strength and stimulate greater and better creativity in your business. You will never be the same…

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