Discover how Q Branch uses personal development to help it's clients.
Why is Money Important?
Why do I think it’s so important to work on money mindset when you run a business?
I always imagine this is obvious, but I know a lot of business owners who have a terrible mindset about money (I was definitely one of them).
The artists who charge about 2p an hour because “no one will pay the hours it takes”.
The coach or therapist afraid to charge because they want to help people and that seems to mean not having a generous payment.
The small shop owner who is always scraping together just enough to pay rent.
The person with the amazing product but they have no idea what to charge.
The bigger business owner who worries how to pay staff.
The business owner who worries every time the shares drop slightly.
I'm Good with Money
Every money worry has an impact on the business. I’ve heard so many people tell me they are brilliant with money, have loads of savings and are very careful with money. This doesn’t automatically translate as “good with money”. Often these people are what are referred to as Money Hoarders. They only ever spend the necessary amount and struggle to spend frivolously without huge anxiety. They are brilliant at keeping it, but investing for growth and having fun with money can be very stressful.
I Avoid Money
One of the first things I did when I decided to start my own business was to do some mindset work. I knew my relationship with money was terrible. I’m what they call an “avoidant”. I just closed my eyes and ears and hoped anything to do with money would go away, or be dealt with by someone else. If I didn’t open the account or envelope it wasn’t happening. This means that bills don’t get paid, invoices don’t get chased and telling someone the price of services is painful. I knew that if I carried this into my business it was done before I even started. On my first session with my coach, she was asking me what I wanted to earn. I kept dodging the question. I couldn’t give her a figure, only some labels. After we had worked together for a few weeks I was in much better mindset and she said, “maybe you will work on money mindset as a niche one day”. A couple of years later I started my Financial Freedom workshop with Rafe Nauen and watched some amazing transformations before my eyes.
I Spend Money
And we all know a spender in our lives, it might be you. You say, “ah well, it’s only money, it can go on the credit card”. Or are you a “we only live once so we better enjoy it” spender? Or perhaps you think “well, you can’t take it with you”. But the anxiety increases as the debts increase and you start to worry where the next money is going to come from to pay off all the outstanding debts. I’ve been here too. I lived with a spender for 15 years. They always thought there would be more money so we would spend and consolidate and repeat. It was traumatic. But the worst thing was I got caught up in it too. Buying so many unnecessary items when the kids were small. The best of everything. I wonder what would have happened if I had put all that money into investments. Well, I know, we would be retiring by now. But my life was so chaotic, the spending matched it. And most of it sadly is now in a charity shop or rubbish pile somewhere in the world. It makes me so sad that I put “stuff” above our financial position. But it was because I had never been taught how to manage money.
Millionaire Mind Intensive
I’m so passionate about dealing with money that I signed me and Matt up to a 3-day workshop to enhance our own money mindset skills. Because it doesn’t matter how much work you do, there is always another layer below the one you have dealt with. There are many multi-millionaires out there who struggle with their mindset daily. They manage to do what they need to do to make the money, but for some reason, they are never quite relaxed and happy. It’s like they are looking for the ball to drop.
Spending 3 days with 250 people, all working on building our financial knowledge and emotional wellness around money was magical. I came away with renewed confidence, connection with Matt and a vigour for life. It was exhausting doing 3 12-hour days of high intensity coaching, hypnosis, connecting, networking and confidence building, but those are the things that make life that bit better for the future.
We want to give to our clients that same sense of building for the long term and supporting them in huge change. By us being willing to step out of our comfort zone, be BOLD and grow, we can pass our experience on to our clients.
Educate Yourself
One of the things we learned at the weekend was 10% of our income should be allocated to Education. I think I probably allocate more than that because I’m so passionate about learning. If I can grow, everyone around me can choose to grow too (or not, that’s up to them).
I’m hoping you follow my example. What would you like to do for yourself and your business next? If it’s getting a handle on your subconscious mind around money, your emotional ability to deal with money and your practical money abilities, book a first date with us (if you worry about the cost, it's on us!).
And if you are wondering what this has got to do with your business, if you feel uncomfortable about money, it follows through to the clients, employees and wider world and you do not give off the brand message that encourages people to invest in you, your products and services and your mission.
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Jenny Jarvis
Founding Partner of Q Branch, Jenny is a highly trained and experienced Human Transformation Specialist, Coach and NLP Practitioner who is passionate about positive relationships and giving founders and leaders the BOLD Confidence and tools it takes to build BOLD Brands and Cultures. She is also an inspiring keynote speaker and lover of french wine and cheese.
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