Coming up: Getting Paid As A Sole Trader, Getting Paid As A Limited Company, Saving For Tax & Your Future. Sign up to get the next article in your inbox so you don’t miss any.
Money mindset? What’s that then?
It’s the difference between a business that is financially successful and one that isn’t.
Let’s find out more and how you can have the best money mindset you can have.
Money Mindset Is The Key To Success
There are lots of reasons why a business is successful.
Maybe you want to be boss of your own working hours, to be there for your children or to care for your parents.
Maybe you want to travel or earn a living on your terms.
A financially successful business is one that makes enough profit for you to do what you want to do.
That’s when money mindset matters, as with few exceptions, that isn’t going to happen unless your money mindset is aligned with financial success.
Think back to your school science lessons. Money mindset is like a magnet. Money can be attracted or repelled to the magnet depending which way you’re pointing it.
So what do you do if you have this icky feeling that something in your head is sabotaging money flowing towards you?
Baby steps are the key. For example:
- Do you have a professional invoice with your bank information, contact details and payment terms clearly displayed?
- Is it easy to pay you?
- Do you delay chasing overdue payments?
- Are you unconfident asking for money? (my personal challenge as some of my clients can testify)
Start with one money block, do it, and then do another one. Consistent action baby step by baby step. Asking for help is totally allowed and encouraged 🙂
These resources are a great starting point if you want to know more:
- Break through your money blocks
- Money blocks workshop
- Money Mindset Resources is a Bonus with How To Do Your Tax Return and Start Your Business courses
Love Yourself, Love Money, Love Order
Yes, that’s right.
If your expenses, statements, bank notes, change, invoices and receipts are all over the place it’s not proof you’re bad with money or artistic or don’t understand (ask then!). It’s proof you’re choosing not to do anything about having your shit together (scuse my bluntness).
A lot of people have a belief that only deeply uninteresting people have organised finances. That if their money is in beautiful gorgeous shining delicious order they will be consigned to a lifetime of being BORING.
Leonie Dawson is as hippy artist and unboring as a person is possible to be – and she has a business with a beautiful 7 figure turnover and delicious 6 figure profit.
So there really is no excuse to not lovingly ditch your beliefs about having sexy accounts, personal and business.
These resources are a great starting place to aligned records in magnificent order:
These resources are a great starting place to help you get your income shit together:
Get Yourself A Little Ritual
Ritual is where it’s at for easy consistent change.
It’s why I am such a big fan of cake and tax. Make it a ritual to have cake when you do your tax return and it won’t take very long before your brain associates tax returns with cake. Much easier.
These are some of my favourite money mindset rituals:
- Track your income so you know how much you actually have
- Track your stats. Getting used to tracking your basic business statistics shows you how much you’ve progressed which a great way to mindshift (download a free tracker)
- Momentum is an extension for Chrome that has a beautiful image every day and space for your main action of the day. It’s great for shifting how you feel and keeping focused
These are all simple and powerful. They gently shift your money mindset over time.
Share Share Share
Community is so important, I can’t stress that enough.
Denise Duffield-Thomas calls it staying in the room. (Denise is a money mindset mentor who transformed from struggling to a million dollar course.)
Staying in the room means finding community where people want to change their money mindset like you, whether that be from £300 or £3 million, and keeping with it.
Even when you’re feeling challenged, even when your beliefs are fighting back and it feels like Lord of the Rings in your head, you stay in the room, you stay in the community with people who support you and understand.
Money mindset groups:
- How To Do Your Tax Return (part of the How To Do Your Tax Return course)
- Tax & Cake Community (part of The Tax Return Toolkit)
- Lucky Bitch Money Bootcamp (paid group)
- Money Magnet Mindset (pay what you can group)
- Women Who Master Their Money (free)
Be kind to yourself and accept support.
Loving Your Tax Return
What do you feel happens to your money energy when you hate anything to do with your tax return, put it off, leave it til late, don’t understand, and generally treat it like shit?
Your tax return is the real proof is you’re in love with the money in your life and attracting it towards you.
When you’re in love with being asked to show how much money you made and being given money, then you’re making some serious money mindset progress.
Being given money you say? Like a tax refund? Actually, no. A refund is money you paid that you’re getting back. It’s still your money. I’m talking about tax-deductible expenses and capital items.
Tax-deductible is the government saying ‘we appreciate what you’re doing. We appreciate business means risk, we appreciate you don’t have a pay cheque, we appreciate you contributing to our country’s economy. Thank you.’
If you remember only one thing from this article, remember that tax-deductible is the government giving you love and appreciation for having your business.
Every tax-deductible cost is a little kiss from HMRC.
Feel a little different about your tax return now?
Understanding, loving and respecting your tax return and accounts is key.
Pamper them, support them, give them cake, take them to the spa. It’s why all my clients receive a chocolate brownie and my VIP days include lots of cake and sometimes a 5 star spa.
Most of all, please get support when you need it, whether from me or someone else. You can contact me here or say hi in one of the support groups, I’m a member of all of them.
Getting Started With A Better Money Mindset
The most important action you can take is to get started.
If you want support with your money mindset, what’s right for you and a safe space to ask as many silly questions as you want, please contact me.
If you want easy to understand courses and guides with printable checklists and a sense of humour and mentions of cake, have a look in my shop.
Excited to create a new money mindset?
This article is part of a series about getting paid as a business.
- Starting A Business
- Professional Payment Procedures
- Ways For People To Give You Money
- Late Payments & Not Getting Paid
- Getting Paid Faster & On Time
- Profit & Tax
- Getting Paid As A Sole Trader
- Getting Paid As A Limited Company
- Saving For Tax & Your Future
Sign up to get the next article in your inbox so you don’t miss any.