Unleash Your Business Potential
Monday, February 20, 2023 12:13:08 PM
Unleash Your Business Potential: Adopting a Growth Mindset and Profitable Financial Management
Are you struggling as a business owner? Believe it or not, a few simple changes in your mindset and financial management can turn your struggling business into a thriving one. The key to unlocking your full potential as a business owner lies in adopting a growth mindset and taking control of your finances.
In my book "It's All Your Fault," I delve into the importance of a growth mindset for not only your business but also your personal life. Additionally, I'd like to share a financial philosophy that I learned from reading "Profit First." The book transformed my thinking on managing money in my business.
Previously, I would pay bills and employees with the money I received and keep whatever was left for myself. However, this left me with little to no profits. After changing my approach, I now take out a portion of the profits before paying bills and employees. I started with 10% and adjusted my expenses as needed to ensure all bills were covered. At first, it was challenging, but over time, this amount became normal.
The key to success is to continuously analyze and eliminate non-essential expenses, allowing you to pull in more profits. By consistently pushing yourself to make these changes, you'll transform your business into an asset, giving you the time and money to live the life you want.
If you're interested in learning more, feel free to message me for a deeper discussion. Remember, being a business owner should give you the freedom and financial stability to live life on your terms.