As you well know, this past November, our latest Easy Breezy Coaching Business Bootcamp ended.
We’re proud to present you Lori Wayne, one of our Top 10 students in this past session—the “cum laude” of the bunch who launched her businesses with our support and who is now thriving!
How You Do Money is How You Do Everything – There is a Formula for Creating and Keeping More Money in Your Life
Most People Struggle with Their Relationship with Money, Personally and in Their Businesses.
- They want more money to do the things that are important to them, like build a business, send their kids to the best schools, enjoy family holidays, take great vacations, pay off debt, and save for retirement. But they often find themselves at a loss as to how to create and keep more money.
- They’re also often uncomfortable talking about money which means if they’re an entrepreneur they hesitate to ask for the sale, apologize for their fees or include too much in their packages. And if they have a job they’ll find themselves contributing more than what they’re compensated for.
- Whether they’re an entrepreneur or have a job, it’s common to for people to feel that money is a necessity of life that they don’t feel in control of.
The reason situations like these are a problem is because if you’re not in control of money in your life, then money is controlling you. Or you’re always feeling some kind of stress regarding money and that stress is holding you back from multiplying your income and multiplying how much money you get to keep and spend every month. Another reason situations like these are a problem is because if you’re not valuing yourself or standing in your power with money (undercharging for your services), then you’re not able to live up to your potential, make an impact or live the lifestyle you desire most.
5 Key Areas for Creating and Keeping More Money
There are 5 key areas that make up the formula for creating and keeping more money. We frequently fall into traps in these areas that derail us or that make making and saving money more difficult.
1. Forgiveness
Many of us have all sorts of baggage around money that we need to just get rid of or let go of. This baggage may sound like this:
- I heard or felt conflict about money when growing up.
- The people around me don’t always speak positively about money.
- I feel guilty or shameful about debt.
- I want to create a new family money legacy for myself and for the people who are important to me!
Feelings like this can unconsciously hold you back from producing consistent income and having a good relationship with money. It is as if you keep hitting your own money glass ceiling when what you desire is to be more financially successful in your life.
2. Boundaries
Setting appropriate boundaries can be difficult, so many of us just ignore them and tolerate a lot of unnecessary stuff.
- I often feel uncomfortable discussing money, so I just don’t talk about it – with my spouse, with my employer, with my creditors, with my business partners, with customers who owe me money – you get the picture, avoidance gets you nowhere.
- I have not increased my income over the past year.
- I often under value what I am worth – give away my time, give away my services.
- I want to value myself while honoring others, so I make and keep more money!
If these statements resonate with you then you are likely putting the needs and wishes of others first and you probably often feel that money is just something that happens to you, instead of feeling in control of money.
3. Action
- I often put off paying or managing bills.
- I would like to save money, but I am not sure how to make this happen.
- I don’t track my income to the penny every day, for business owners this translates to not knowing if your business is making money and viable.
- I want simple money systems that allow me to feel confident and in control, and help me create greater income.
If two or more of these statements feel true for you, it may mean you have fallen in to the trap of missing simple systems for handling your money, your bills and maybe even debt payoff. It also means you may be missing out on simple opportunities that would help you get ahead of your bills and create more income.
4. Empowerment
- I under-charge or am under compensated for my expertise.
- When I think about making more money it feels overwhelming or that I am just going to have to work harder.
- I often secretly have doubts about my financial decisions.
- I want to stand in my power with money and increase my financial self-worth!
A typical trap around empowerment is that you are inwardly not sure how to stand in your value and be compensated highly for your expertise. This is a common trap and breaking free of it creates dramatic, positive improvements.
5. Mindset
- I know my money mindset impacts my actions around money and other things.
- I would love a new money mindset but I am not sure what it would be.
- Many things in my life are going great, I just need a shift regarding money.
- I want to create a mindset of unlimited opportunities for me to increase my self-worth and my net worth!
If you say yes to two or more of these statements then you know you would benefit from a shift in your mindset. You may just need a fresh perspective to help you see what’s possible for yourself and how to keep yourself focused on where you want to be, instead of where you are right now.
Empowered Money Strategy
If you just continue to do the same old things in your life when it comes to money, you are going to experience the same frustrating results:
- Under earn, even though you know you are worth so much more.
- Frequently find yourself short of money, despite trying to make more.
- Want to achieve a new level of success in your business or career, but something always seems to be preventing you from making significant progress toward your goals.
- Ongoing stress and frustration around money.
The great news is that you don’t have to keep doing the same things. Instead you can be purposeful about money and develop an empowered money strategy. Here is how you do it.
- Complete a Money Breakthrough Assessment – you can do this by asking yourself the questions listed above under each of the five areas – forgiveness, boundaries, action, empowerment, and Mindset, or you can access a complimentary electronic version here http://lorirochellewayne.com/money-breakthrough-quiz/. This will give you a snapshot of where you are now.
- Use the snap shot and hone in on one of the five areas, where you want to take action.
- Identify one action you can take in the next 24 hours that will help you move forward and make a change in that area.
- Repeat the process and identify additional action steps that you can take.
- Get on the path to taking simple actions that put you in control, so you will begin to make and keep more money.
By having clarity about where you currently are in each area (this happens by asking yourself some questions and honestly assessing where you are), you create a snapshot of where you are right now and can use this snapshot to determine actions to propel yourself forward in regards to money. By having clarity and knowing what to do in each of these 5 key areas, you’ll automatically begin to make more money and have more money to spend how you want.
The good news is money is very simple to master, no matter where you’re starting from right now. Once you have a strategy for knowing how to value yourself – and how to take simple actions that put you in control – you’ll begin to make and keep more money. When you have simple money systems in place, you’ll be able to confidently stand in your power with money, with anyone and in any situation. This is how you increase your self-worth AND your net worth!
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Lori is a certified business and money coach and she is fiercely committed to guiding entrepreneurs, service based business owners, and motivated women to get off the money roller coaster, to stop settling for mediocre business results, and to eliminate self-sabotaging money behaviors, so they can achieve financial freedom, sustain and grow successful businesses, live balanced lives and pursue their goals and dreams.
Right on target in all these, Lori! This article has inspired me to do an assessment of how I truly view money. Thanks!