THE POWER OF STRONG MONEY MANAGEMENT

You may find this unthinkable; Entrepreneurs, who run their business without knowing how much money they're making. It may come as a shock when I tell you that 89% of small business owners struggle with the financial control of their businesses. This is a shared challenge for start-ups as well as established companies with multi-million dollar annual revenues.

Can you imagine these same people not paying attention to the financial compensation if they were employed? Yet, when it comes to their own businesses, they are seemingly ignorant to what would naturally be of highest importance in any employed engagement.

After so many years of business advisory I have been observing this phenomenon and identified the following 3 key reasons why entrepreneurs shy away from the financials of their business:

1. They are scared that the profits do not reflect the amount of work they are putting in

2.) They fear that the financial performance is a direct reflection of their ability and own value

3.) They blindly trust their bookkeeper and accountant without overseeing, understanding and managing what goes on

I have some heartfelt, tough love for these entrepreneurs. If you don't take care of the financial aspects of your business, you may as well take a job!

The stress that this avoidance causes coupled with the inevitable demotivating factor why the hell you work so hard, will eventually catch up with you. Maybe initially the ‘ostrich’ approach will help ignore the true facts but soon anxiety and fear will creep up. Then a situation will cause you to HAVE to look at things and will send you into a tailspin!

Therefore I teach my clients to make understanding the finances their first major priority. This may well be a little unsettling at first but once you know and start taking control, the power you will gain over what goes on in your business as well as the peace of mind that comes with the knowledge soon turns unsettledness into empowerment.

Once you declare control over your finances you will truly enjoy being an entrepreneur. You will clearly see what works for your business and what should be improved. And even more so, you will finally get to imagine how big this ‘baby’ can grow! 

Ready to take your head out of the sand and face your finances full on? Then it’s definitely time to give me a call.

Together we will not only tackle the present but plan the attack for future profits.

Can’t wait to show you the incredible power of being an excellent money manager and the returns you can expect from turning your passion into profits :-)

Yours in tackling business challenges,

Conny

THE POWER OF THE NETWORK

Have you ever heard of the saying:” You become the company that you keep”? Thinking back to our parents, they understood the importance of surrounding their children with the right friends for the right influence and were determined to watch over us ensuring we made the right choices. Strange how what was important then, is also most crucial now.  For business entrepreneurs this is especially true!

As entrepreneurs creating a powerful network of like minded individuals who can help excel prosperity, is one of the most key parts of creating success. Many of us have read about it or have watched people with same abilities and knowledge greatly surpass others of a similar composition, wondering how they have managed to get that much further ahead than the others. Yes, I know. It’s starting to dawn on you now, isn’t it?! That’s right. It is because they are the ones with the more powerful network that gives them the leverage to grow much, much faster.

I think in one of my more recent blogs I mentioned how your network equals your net-worth. It is just not enough to be a self believing, motivated, ambitious, educated and knowledgable individual who is the very best in their field. Without top quality people   and a top quality network, your business will at best ever only be mediocre.

When considering where and how to invest your time most effectively, concentrating on the development of a sterling professional network has to be your number one tactic of business development. This is not an easy task and will not easily be met by simply running from networking event to networking event.

Be strategic about your attendance at the right events only. Consider splashing out regularly on a $125 ticket to a gala event with top business people and high quality guest speakers as a better investment of your time and money with potentially greater returns, then cheaper alternatives. The connections you will make in those circles may just be the ticket to the successful company you are striving to build.

Now sticking with the theme of old sayings, I would like to finish off with one of my dad’s favorites:” It is not about what you know but who you know!”. As an entrepreneur himself, he handed down his knowledge about the importance of a powerful professional network to get where you want to be, and fast.

Now I am happy to share my ‘heirloom’ and remind you of this simple truth. So look around you. If you still do not have the opportunities you know you are able and willing to embrace, maybe it’s time to expand your network. Just make sure it is with the right people with the right influence!

Yours in business & life,

Conny