Everybody wants to have a successful business and make a ton of money. At least most people do, while helping as many people as possible in the process. Many of us started our business because we felt a burning need to change our lives and provide a service or product that we know was missing from our market. But what they do not teach us in business school are the following 4 things to make money in your business.
1. A Money Mindset
Yes that’s right. It is important that we believe in ourselves and believe that we are worth it. But we also need to believe that we deserve to have the money we want to make. That is a mindset block that so many entrepreneurs struggle with. They want to make money but deep inside they do not feel they deserve to make a ton of money. They feel they are not money worthy and that is a big challenge. Because if you believe that you are worth $5 then that is what you will consistently bring in. If you believe you are worth $5000, then that is what your will bring in.
Removing that money block takes work, because traditionally we have been taught that money is the root of all evil and that we should not worship money. The first step is to shift that perspective. Money is energy. Money is a tool to be used to better your life and those around you. You are in charge of your money, money is not in charge of you!
2. A Money Goal
You also need to be very clear about how much money you want to make and by when. Some people go as fas as to set daily money goals so they can track every cent of their money. Too many times when entrepreneurs are asked how much money do they want to make they say- I want a little bit!. If that is what you want then that is what you will receive.
Be very specific about the amount of money that you need to make and that you want to make, which are two different things! Set a goal for your money.
3. A budget
So you want to make $20K, but do you know exactly what you are going to do with that 20K. Do you have a clear vision of how that money will be allocated in your life. How much goes towards charity and savings and insurance and your yearly vacation and groceries etc. Create a budget in advance of receiving the money so you have a clear plan of how your money will be spent. This allows you to have better control of your money and decreases the likelihood of living in debt!
4. An accountant
If you are thinking about hiring anybody to your team, one of your first hires should be an accountant. Why? Because a great accountant will show you how to save money, how to pay less taxes, how to structure your business so that you let your money work for you! A great accountant understands money and should be able to coach you into getting comfortable with your money.
So there you have it. You are in charge of your money.
Do you have these 4 things in place already? Which one needs work. Tell me in the comments below.