What Trumps Budgeting Every Time For Generating More Money
All women entrepreneurs want to learn how to make more money in their business but unless you also learn the secrets to keeping more of what you make, what you do create will quickly slip through your fingers.
And one of the biggest mistakes women entrepreneurs make is thinking they need to wait until they’re making more money before creating empowering actions with money.
Hear me out on this, because I didn’t always run a multimillion dollar business. Back in my early, struggling days I worried about how to break free of the roller coaster money cycle I always seemed to find myself in. It wasn’t easy, as back then, there wasn’t anyone teaching women entrepreneurs the insider’s secrets I now freely share.
Luckily, I kept at it and finally “cracked the code”, creating simple systems that resulted in both a huge leap forward with my income AND in the amount that I got to keep.
Because money issues come up frequently for women entrepreneurs, here are 3 simple tips to help you make and KEEP more money.
My most popular and impactful recommended action step is to start tracking your income – DAILY. And while it’s tempting to say, “I don’t have income every day so what would I track?” or “I don’t have time to do something like that every day!” let me reassure you, I’ve been tracking my income daily for years and it’s been the single, most powerful action I’ve ever taken to increase how much I make.
Tip #1 – Money Loves To Be Paid Attention To
Remember that scene in the movie “It’s a Wonderful Life” where the bank employees, after having survived a run on the bank, have two $1 bills left and they joke that the bills might make babies if they leave them alone together in the safe overnight?
Money needs to be cared for, nurtured and appreciated. It doesn’t multiply when it’s left alone (nor are money issues miraculously solved when ignored). Money requires attention and you have the choice of whether it gets your attention in a negative or a positive way. Track every penny flowing into your life and business daily and you’ll be paying positive attention to your money in all of the right ways.
Tip #2 – Make A Game Of Your Money
There’s a difference between acting with financial integrity versus approaching money with a feeling of heaviness and dread. Lighten up and you’ll find that it’s actually enjoyable to pay attention to your money.
One easy way is to make a game of seeing how many days each month you can have an amount to record on your money tracking chart. Keep setting your goal higher month after month and you’ll quickly find you have more coming in.
This is surprisingly easy to do when you consider that you’re tracking ALL the money that comes into your life – whether it’s a business transaction, a birthday gift, a refund or investment or even the loose change you find under your car seat.
Tip #3 – Be Proactive Rather Than Reactive with Money
Avoiding looking at financial situations means that every day your choices become more limited until finally, you’re down to a single, reactive choice. That’s not an empowering place to be.
Knowing where you stand financially at all times is like having your finger on the pulse of your business. When you look at income daily you begin to sense patterns of all kinds: how your list responds to promotions, how your clients tend to make payments, and how often you may need to be making offers. These patterns are literally gold for you – insider information that helps you make choices each day about how and where to spend your time and energy.
Tracking your income every day is a powerful action that reaps exponential rewards, financially and personally.
Would you like to learn simple ways you can brand, package and price your services, quickly move away from 'dollars-for-hours work' and create more money, time, and freedom in you business? Check out my web site, http://www.KendallSummerHawk.com, for free articles, resources and to sign up for my free audio mini-seminar "Money Blocks & Breakthroughs.
Award-winning small business expert Kendall SummerHawk is the leading expert in women entrepreneurs and money.