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Is your relationship with money sabotaging your success?

Photo by Ute Wieczorek-King

Photo by Ute Wieczorek-King

I recently had an article about passion and the importance of having a strong purpose in business published on Prowess 2.0. It’s a subject which resonates with many women I know.

What drives you… passion or profit?

Women in business often fall into one of two camps, either believing that business is not about passion but about making money, or that business is never about making money first.

Those who are in the second group may well have what some call a ‘heart-centred’ approach to business — a strong driving force to make a difference with your small venture. 

But whatever your underlying belief, when it comes to running your own business it helps to have absolute clarity on how money fits in to your life and what you need it for.

For example:

      Is your business the main source of income for you or your family? Does it perhaps have scope to become a sustainable venture, one that can provide you with future financial stability?

      Or does it provide a supplementary but essential income, if you need to contribute to the household bills, for example? 

      Does it exist to provide you or your family with nice treats you would otherwise have to go without?

      Or is what you do the fulfilment of a long-held dream which you would carry out for little financial gain, if you had to? 

I appreciate that this may be a slightly crude attempt at compartmentalising different reasons why women work. But I wanted to show you that even when you are not greatly motivated by money, your chosen lifestyle will always require it.

Even fulfilling a dream will require time — after all, time is money — and funding from somewhere. Considering that money plays such a big part in our lives, many self-employed women seem to have a very complicated relationship with it.

Are you limiting yourself?

Over the years, I have met many women in networking groups who may not ‘need’ to make much money, and then subconsciously limit their ‘profit potential’ or earning power. Then, others need to make money but lack the self-belief that they are capable of making serious money or deserve to do so.

Consequently, many women play small, aim low and work in such a way that the work or business can’t be scaled up.

Then if something happens to the family income, they have no choice but go back to a paid job. It makes me feel very sad when I see years of effort go to waste, so please don’t let that happen to you.

Whatever your motivation is in business, try to work out how much you need from your venture to fulfil your personal and professional objectives. Then, however much that is, make sure you believe that it can be yours. If you don’t, you can always turn to a professional mentor who can help you to work out the role money plays in your venture and do so in the way that is right for you.

By making money your friend early on, you will be able to create a business model that not only fits you totally but also has lots of future potential!

Ute2013PS. If you would like to have a complimentary chat about your micro-business, please email Ute Wieczorek-King.

Ute is the owner of Success Network and a bilingual (German) business coach & mentor who helps busy women to be visible, effective and profitable in business.

To receive Ute’s free ‘Turn your Passion into Profit’ ebook, please visit this page.

Ute

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