So you started your business, and you thought you'd have the freedom and flexibility as a business owner to now finally do what you love. No longer will you be stuck with the relentless hamster wheel of employment!Then you start the business and everything got in the way. You find yourself working all hours of the day, weekends, and even bank holidays just to catch up. Then you have to pay your team that you delegate these time-sapping tasks to, and you come last. This wasn't what you expected or dreamed of, and you lay awake at night wondering if you should just go back to the hamster wheel. It was easier, right?So many business owners during the recent outbreak and lockdown put in place due to Covid-19 had to close their businesses because they didn't have a strategy in place to cover the costs of running their company. Now, I am not saying any of us could have ever expected such a drastic and life-changing thing to happen. I am saying that if you get a strategy in place now for your finances, then you can potentially be more secure and prepared for changes that come your way.
I talk a lot about rewiring your mindset for success, so much so that I titled my book with it. It's all about mindset as a business owner - you need to rewire and change it up so you can see your business in a new way. With this rewiring your mindset for success, you can begin to grow the company that lives up to the expectations and desires you had for it when you took the leap of faith and started it.
It starts with the cash & how you use it for your business.
Cash is, ultimately, the bloodstream of your business. When you start making income, most business owners will begin to put everyone else before themselves. They will pay all the bills, their team, their expenses, and much more, before even considering themselves and the savings for next month's requirements. This, in turn, ups their stress levels.You must change your mindset on how you create this bloodstream for your company - who must you pay? How can you put some of the profits into reserves to save for later needs? There is no need to wait for that magical moment that one day your business will earn enough and you can then make a fat payment to yourself. You need to create that moment now, and with the right cash-handling strategy in place, you can do that.I'd love to share all the ways to do this in just this article, but as I am sure you have seen, it's so much more than just a few words on a page. You must be driven, determined, and committed to making changes. If this is you, I have written a book with actionable steps and strategies you can follow. If you would like to go through the book, you can download it on Kindle or get a paperback version if you prefer a more tangible option. I at least hope this short insight into one way to change your strategy for success has inspired you to start looking at your cash & ultimately your business strategies in a different way.
