Are you not making enough money and would you like to make more money? Well, it might be that your relationship with money is actually costing your business. Cash is king and if we don't have cash, we don't have fuel for our business.
In this week’s episode, we’re going to debunk some of the things that might be happening in your mindset around money and help you get a strong cashflow going. It’s personal, it’s ranty, it’s helpful! So, let’s get started.
It’s me, hi! I’m the problem, it’s me!
Are you in a situation where you’re sick of feeling like you’re going backwards with money? Do you feel stuck? Everytime you check there’s no money in your wallets or bank accounts?
Maybe it’s not that your product isn’t good enough, or that your business isn’t strong enough, but it’s a problem with your money mindset. I have had lots of ups and downs with my own money mindset, and that’s why I want to share this episode with you. There’s a couple of things I’ve realized over the years that can help you fix that mindset and get control back over your money situation.
Limited beliefs create limited results.
One of the most important things you can do is change how you speak about money.
Do you find yourself saying ‘saving money is so difficult?’. Or, maybe lowering your expectations and saying ‘I don’t need to make that much money’. Well, why do you do that?
It’s ok to make money, and want to make money, you can still be a good person. Let’s be honest, money is really important for your business.
When you say ‘I hate money, money is such a struggle’, then money will say it right back. We have a relationship with money, and how you speak about it affects how you attract it.
It’s also okay to be honest when you’re struggling. I’m not afraid to say I was struggling a while back with some things. But, the main point is to stay optimistic and still be mindful of how you talk about money.
When you focus on goals, you get results. When you focus on problems, you get more problems. If you focus on money as a chore or a negative thing, what are you going to get?
The first step is talking about money in the right way.
The first step to changing your relationship with money is paying attention to the sentences you hear yourself say. One of those sentences is ‘I can’t afford that’. Try and switch this up and start saying ‘I choose not to buy this’.
This will change everything! Instead of saying ‘my business isn’t doing well right now’, maybe say ‘we are saving some money right now in the business’. Say ‘we are paying attention to our costs right now’.
Things are shifting and everyone is more aware of what they’re spending even if their business is doing well. We are paying more attention to how we are spending our money because we want to be sure that how we spend our money is actually getting us somewhere. Even if your business is doing okay, it’s still important to watch how you speak about your money.
Don't say too many negative things about money, because it's costing you results.
You have to spend money to keep money.
You might not expect this advice, but if you are struggling with money or holding onto money, you need to start spending.
It might feel like the opposite of what you should be doing, but it will help your money mindset, By spending money, you create a better energy around it. You show that you are ready to receive more.
If you keep your fist closed, you lose nothing — but you also don’t let anything in.
Of course, I know it’s not always that simple, and I don’t mean to come across stuck up. I just mean if we are so afraid of spending money, what does that say about our belief in ourselves and what does it say to our audience?
If you don't want to spend or invest, why would anyone do that for you? If you keep your fist closed, what does that say about you as a business owner and entrepreneur?
You’re allowed to want personal freedom.
In my business school, we talk a lot about building a freedom-based business or a freedom-filled life. For example, working remotely, working online, or working with clients you love. But we don't talk enough about being able to fully be yourself and what type of freedom that gives you.
I think the reason I have so much energy in my business, and I get to do so much, is because I just get to be fully myself. How sucky would it be to just drive to work every day and to put on a persona?
I wouldn't like that. Part of unlocking that freedom is understanding how to set the right prices for your product.
Don’t be afraid to name your price.
The next part of our money mindset that we need to fix is that so many of us are afraid to raise our prices. Maybe you're in a situation right now where you don't know if your price is right.
I see way too many people increase their prices for products just to be in a different price range. People put very, very steep prices on things that they don't have the experience in yet. That being said, if you are experienced and you do know that your prices are too low, we will have to fix that because you have an energy leak.
This is one of the biggest reasons I was able to build such a big business, I used to have an energy leak because my prices were way too low.
I was working so much, and never making enough money. A friend told me, ‘you’re giving more than you’re getting! And that’s not an equal energy transaction!’. All of a sudden, it all made sense and everything started shifting for me.
If you're doing something you love and you're still headed towards burnouts, there are many things that are a part of that. One of the things that could be a part of it is that you are just not getting enough energy in return for your hard work, in the form of money. Because money is a form of energy.
Don’t forget to thank your money.
We’re in a time where the economy has gone totally downwards. We cannot change what the government is doing, or what all of the banks are messing up in their own time. What we can change is what's happening in our own head and the words we speak.
When we have negativity in our minds, more negativity follows us. When we have positivity, more positivity follows us.
You can literally achieve anything you want with the quote ‘where energy goes, money flows’.
The single most important step in your relationship with money is when you start being nice to your money.
Start thanking your money for paying your bills, buying your groceries, and keeping your lights on. Start thanking it for paying your teams’ wages and giving you an amazing business. I love my money. I love every euro I can find at the bottom of my purse.
Why would more money choose to flow by taking these steps? You can choose to believe this or not. I chose to believe it, and I've made more than 4 million in the past three years, so, the choice is yours.
I didn't start out with 4 million. There were a lot of times where I barely had any money. It was not easy to start saying I love money and thank you money — but I'm so grateful I did.
If you liked this episode and you want to know more about changing your relationship with money, then try my Money Mindset Guide. As we venture into My Money Mindset course, which will probably be better than this episode, my Money Mindset Guide can be found through the description of this episode, or simply by going to fastforwardamy.com/moneymindsetguide.
This guide has some of my very best money mindset tips so that you can start becoming a money attractor. You can read it online or maybe you want it printed out. I think it's even available in English as well as in Dutch. I know my money paid to translate that, or my business is money.
PS: During this episode we talked about fixing your energy leak by increasing your prices. A lot of entrepreneurs don’t know how to raise their prices and how to communicate this to your customers. Luckily for you, I’ve already recorded a podcast episode about this and you can listen to it on Spotify or Apple. As always, you can also read an outline here: fastforwardamy.com/91.