What’s your money anxiety as a business owner? As a money fitness coach and entrepreneur myself, I have experienced and counselled my clients on the following top 5 money panic buttons:
Help– I’m spending more than I earn!
Groan – Where are my customers?
Moan – I know I’ve got to save, but can’t I go on holiday too?
Sob – I used to earn $$$$$! Now I’m down to less than minimum wage!
Sigh – When am I going to nail it and land my first big break?
Relax – get used to being uncomfortable! Entrepreneurship is a grand adventure with its share of pitfalls and risks, unlike your regular 9 to 5 job which comes with its own set of risks too – the risk of being fired, laid off or backstabbed.
We feel uncomfortable because we are facing a new terrain with many unknowns. It’s a lot like exploring a hiking trail, going on a camping trip or visiting a country where people don’t speak your language. You’re anxious, but the scenery before you is breathtaking and spectacular as far as your eye can see. You know you are going to enjoy every moment of immersing yourself in that beautiful landscape once you get going. Your leg muscles will ache as you hike. The sun beating down your back will make you sweat, but just right ahead, you know that there will be a cool and shady forest with a refreshing waterfall waiting for you.
Those pesky mosquito bites, the lack of air-conditioning and missing your favourite TV programmes will pale into insignificance as you reach your destination and realise that you have survived the journey.
So it is with starting a new business or any new venture. Enjoy the journey. Enjoy living light. Don’t waste your emotional energy worrying about your lack of income. It’s like expecting to bathe in a bath tub on a camping trip.
Plan how to use your precious limited resources. Money may be tight but there’s room for a few treats. How about celebrating every baby step forward in your business with a reward? For example, I recently rewarded myself with a 90 minute body massage after gaining three new clients. The smaller the step, the smaller the reward. The bigger the step, the bigger the reward.
Most of all, focus on your breathtaking vision. That’s what you signed up for when you became an entrepreneur. Commit to your dream daily, and the money will come. First a trickle, then a rush, then a continuous flow like a refreshing waterfall.