These 4 Things Are Impacting Your Success

In my work with other women, there’s a consistent theme that comes up when it comes to money and everything to do with business finances. It’s the way we think about money. And unfortunately, many times we think of it negatively.

This causes us to procrastinate, avoid and just not pay attention to the money side of our life. But growing a business is difficult if we don’t pay attention to what’s going on with the financial side of things.

I’ve had my own negative money thoughts and struggles that have held me back. I learned from a young age that money was something we never had enough of. And even as a young adult, my then partner and I struggled to make ends meet.

This all reinforced those thoughts and beliefs I’d stored away that said there was never enough money, I’d never be successful, and I’d never have enough.

It was eye-opening to me to learn about my money story. And more importantly, how it was standing in between me and success.

Thoughts and beliefs like "I'm not good with numbers" or "Money is scarce and hard to come by," can create a self-fulfilling prophecy, limiting your ability to effectively manage and grow your business.

But acknowledging and challenging these beliefs is the first step towards transformation.

Here are some common ways these beliefs can show up in our business. Once you recognize them, you can start to address them head-on.

Scarcity Mindset:

A scarcity mindset is rooted in the belief that there is not enough money to go around. This leads to feelings of fear, competition, and worry. Scarcity mindset can hinder your ability to take risks, invest in your business, and attract abundance.

Instead, cultivate an abundance mindset by focusing on opportunities, celebrating wins (both big and small), and surrounding yourself with a supportive community of like-minded entrepreneurs.

Fear of Success:

An unhealthy money mindset can also manifest as a fear of success. This fear stems from the belief that more money and success will bring unwanted consequences. This fear can lead to self-sabotaging behaviors such as underpricing your services or avoiding opportunities for growth.

Recognize that your success is not only beneficial for you but also for your clients, team, and the impact you can create in the world. There are people out there who need you and what you offer. They depend on your success.

Pricing and Value Perception:

Setting appropriate prices for your services is vital for the sustainability of your business. But not having a healthy money mindset could make you undervalue your skills, expertise, and what you bring to the table. This leads to underpricing which affects not only the bottom line but may also bring in clients that aren’t really a good fit for who you truly want to work with.

Shift your mindset to recognize your true worth and the transformative impact your services have on your clients' lives. And set your prices accordingly!

Financial Management:

Effective financial management is the backbone of a thriving business. But if you’re not all that excited about your money, the last things you’ll want to do are record financial transactions or review your financial statements. This lack of managing your business finances appropriately can result in poor financial decision-making and a lack of understanding about the financial health of your business.

Instead, embrace financial management as an empowering tool and equip yourself with the knowledge to make informed decisions. Once you learn how to use financial information to drive growth in your business, you’ll start to see the success in your business that you long to have.

In working with clients on the financial aspect of their business, I’ve encountered more women than men who seem to shy away from their finances and really understanding how to use financial information effectively. And it stands in the way of success.

So, I’m on a mission to change that by helping other women unlock adopt effective financial management practices so they can unlock true potential, develop a thriving business, and generate the income they desire.

How do you feel about your business finances and money in general? Let me know!