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164 - Do You Struggle with Money?

This article is based on critical questions I’m often asked by clients, who are smart and savvy women entrepreneurs ready for change.

From improving cash flow…. to increasing staff productivity…. to scaling for growth, these periods of transition — and so many more —  provide both challenges and opportunities. Managed effectively, change can become a productive force for growth. The Block Group harnesses that potential, bringing together the people, resources and ideas that build results.

Patty-W-Block-Small-2All the best! 

Patty Block

©The Block Group Inc. All rights reserved.

Building Solid Companies That Move Forward


Why Do I Struggle With Money?

Money means different things to different people.  It can mean accomplishment, freedom, happiness, or growth.  It can also mean burden, struggle, stress and stagnation.  

There is strong symbolism around money, so it is important to keep things in perspective.  As author Ayn Rand famously said:  “Money is only a tool.  It will take you wherever you wish, but it will not replace you as the driver.”  

When Can I Stop Worrying About Money?

As business owners, it is our job to worry about money, in the most positive sense. 

How would you answer these questions?

  • Do I fully understand my company’s financial position?
  • Am I struggling to be paid what I’m really worth?
  • Am I consistently tracking the timing of money in and money out?
  • Have I optimized the cash cycle of my company?
  • Am I running consistent profits?
  • Have I developed and implemented financial growth strategies?

Working with women business owners, we often find that some clients question whether they deserve to be financially successful. This commonly stems from how they were raised and how money was handled in their household.  There are often deep-seated beliefs and fears that cause us to avoid or ignore our real value in the marketplace. 

Is My Anxiety Skewing My Decisions?

When people ask me how our business advisory firm is different from others, I’m proud to share that we help shift the way women business owners think, so they are no longer making business and financial decisions based on emotions.  

When you can detach emotionally and move from reacting to acting, you can view money as a side effect of a job well done. It becomes a way of keeping score, rather than being a motivator.

But Where Do I Begin?

While it may feel overwhelming to go through this exercise, by working with a business advisor, you have a guide to help you with the following:

1. First and foremost, your heart and head must be aligned around your relationship with money.  How you feel impacts what you think.  Spend some time thinking and talking with trusted sources about your feelings around money.  Determine the feelings that work to your advantage and those that don’t.

2. Understand the value that your business brings to the marketplace. Marshal your resources and invest time and funds in building a consistent, valuable message in the marketplace. Then ensure that every company activity - from service delivery to invoicing - reflects that message.

3. Develop a financial strategy that is built around the questions at the beginning of this article. In my experience, this is where a business advisor is invaluable. You started your business because you are passionate about what you do – not passionate about developing a financial strategy. An advisor can get you moving in the right direction.

These three important steps form the path to getting emotionally comfortable with building and handling prosperity. Once you do, you can focus on bringing in ideal clients, improving your profits and creating a greater impact in your community.

Business Coach in Houston

Patty-W-Block-Small-2

All the best! 

Patty Block

©The Block Group Inc. All rights reserved.

Building Solid Companies That Move Forward

Building Blocks