“It’s a bad economy”, “I’m going to lose money before I make money”, I have to take another job to make ends meet”, “How am I ever going to make it work when I don’t have any clients?”
These are statements I’ve been hearing repeatedly and I believe they’re all part of the Cash Flow Blues Syndrome. What is that? It’s when you’re focusing on the money not coming in vs. the money that WILL be coming in to your business. In the beginning you have high hopes and expectations but then somewhere along the way the money flow and clients/customers aren’t coming in quickly and that’s when the doubt sets in. You wonder what you’re doing wrong. You figure you’re not cut out for this business and you start beating yourself up.
The best ways to fix the cash flow blues are:
- Shift your mindset to money flowing in abundance
- Change your actions
Here’s how you do both:
- Money Abundance. A wonderful trick I use to think of money flowing in easily is to imagine that it is. Try this, make out Goal Cards that have the money or dollar symbol on them and write “I have all the money I need” or “Money comes into my business easily”. Then read it before bed and when you wake up. Start envisioning that money is coming into your life instead of focusing on it leaving your life.
- Keep track of your money. Be aware of what you’re spending your money on but don’t focus on how little you’re making. There are the necessary business costs such as a website, web host, business cards, brochures, materials for your business, training, legal fees, accountants etc. Many of us get caught up in buying THE next best solution. Would you like to know how many products and books I have on my shelf? Many have been a waste of money and when I think back to when and why I bought them it was because I was acting out of fear. Do you tend to buy frivolously? Think about what you really need for your business and only buy what you know you need and will use.
- Focus on Money Generation. There’s a lot you need to do to run your business but it’s so easy to get caught up in the things that don’t generate the money. Begin to outsource and delegate. Things that take too much time or expertise you don’t have such as website maintenance, graphics, your newsletter can all be done by someone else. In the beginning my kids helped me and then as I needed to get more professional I began to hire experts. A Virtual Assistant can help you with tasks and an Online Business Manager can support you your total operation. This way you can work on producing products and programs that will bring in the money.
- Create a low cost, low time product or service. Need money fast? Then think about what you have or do that you can offer for inexpensively. Examples are things like eBooks, eBooks with an Audio, eCoaching or Consulting. Another great low cost program offer is a Membership program. These can be offered for as low as $5 per month and can be built in to nearly any business model.
Whether your blues are stemming from your mindset or action I know that when you shift both you’ll begin opening yourself up for more money in your business. Wouldn’t it be nice to envision the money and then have it start flowing in?
What do you need to do to change your mindset or actions to create more money in your business? Please share in the comments below.
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