Thursday, December 11, 2014

Making the Most of Your Small Business Bank Roll

How to Make Your Business’s Money Mean More

home business, small business
Generally, there is a huge difference between what wealth truly is and what our peers or the media tells us it is. When we think of wealth, many of us envision fancy cars, private jets, nice homes, expensive clothes and the latest and greatest technologies. But, are these really symbols of wealth or symbols of people with enormous amounts of debt and money problems? Dani Johnson, renowned inspirational speaker and self-made millionaire, discusses this exact topic in one of her latest articles. Ms. Johnson writes that people have a very disconnected idea of money and wealth and suggests there is a way to look at these ideas and make them mean more, both in your personal life as well as your business.

View Money for Exactly What It Is

When many people think about money and wealth, they think about all the things they will be able to do with it, like take expensive vacations, buy expensive items, and live in expensive homes. The truth is that money is just money – even though it can buy us material things, it cannot by happiness, togetherness, or love. The same can be said for money in business – many business owners associate their yearly monetary profits with how successful they are and the truth is, this is not all success is based upon. In order to make your money, personal or business, mean more is to start treating it the way you should – as money and nothing more. Success and happiness can be gained from a number of other things instead of just the amount of money in your bank account or your year over year profits.

Grow “Wealth”

Many of us get into a cycle where the more money we make, the more money we spend. Ms. Johnson writes that as her paychecks increased, so did her spending, and although she had everything and anything anyone could want, there was no true value in anything she owned except for what she paid for it. Instead, she suggests focusing on building wealth instead of building money, meaning putting purpose into what money is being spent on. When a purpose is placed on money, instead of frivolous spending, it will not only help you or your business become more productive working toward that goal but also helps you to make more money. When the goals change from simply making money to something bigger, it can have a huge positive impact on your personal life and your business.

Focus on What Gets You Out of Bed

Life is so much more than the money we make and what we spend it on – life is about experiences, setting goals, and achieving triumphs and successes. Instead of focusing on working to make money to buy that expensive car or house, focus on the aspects of both your personal and professional life that get you out of bed in the morning. Ms. Johnson suggests asking yourself, “Why do you go to work every day?” – The answers to this question can range from supporting a family, to providing a great service to customer or even something bigger. It is important to focus on these goals instead of just the amount of money in your bank account to help you build true wealth for yourself and for your business.

Do you need help with your home business? Stacy O'Quinn has helped dozens of entrepreneurs create a six figure income and you could be next! For more information about Stacy and to learn how he can help you, click here.

*Photo Courtesy of Steven Depolo via Creative Commons License

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