When you are a soul-preneur, money isn’t always the #1 priority in your business, but it’s up there in the Top 5!
After all, you can’t pay rent and bills, fund your travel and retirement, or stay in business (!) if you’re not making money.
Your Soul Work is your priority, and that’s a wonderful thing. If you’re like me, meaningful work, creativity, flexibility, and freedom, matter just as much as money, so my goal is to help you to bring money AND joy together.
I truly believe that the things you focus on expand – that could be your happiness, your opportunities, and yes, even money! When you measure things, they grow, and that means that when you’re paying attention to your money, it’s far more likely to grow.
We don’t always like to talk about money.
It can be scary to really get up close and personal with our income… and expenses. Sometimes it can feel like a pothole full of judgment, like if we’re not meeting our revenue goals then we pressure ourselves into thinking we’re not working hard enough or hustling enough. And that mindset causes us to ignore or actively avoid our money – but that doesn’t really help us, does it?
Instead of ignoring money, you want to have an open, honest conversation about it!
Money isn’t a bad thing (contrary to many stories from our childhood) it’s a good thing – it funds opportunities in your life and allows you to do the things you want to do.
What if you got excited about money? That doesn’t make you Scrooge McDuck swimming around in your hoard of gold coins – it simply means that you appreciate the flow and exchange of value.
Plus, the more we talk about money, the more we neutralize the negative energy around it and allow that conversation to become straightforward facts about money practices. Then you can amp up your attitude and vibration around money in a healthy positive, money-attracting way!
So, let’s take back our financial power!
Here are 7 strategies I recommend for you to take back your power around money:
- Create a Daily Revenue Tracker
This can be as simple as a sheet of paper with a space blocked out for each day of the month, and all you have to do is write down the money that comes in every day.
Some days (maybe a lot of days!) you’ll be writing down zero… Don’t panic! That’s completely normal – lots of businesses do most of their billing at the beginning of the month. Building up a no-judgement zone for tracking your money is a really good practice.
This allows you to know and understand your money and become an ally with it just by paying attention to it. And once you and your money are allies, that fear that kept you from looking at your finances flies right out the window! When you’re interacting with your money every day, you’ll start finding new opportunities and strategies to bring in even more revenue, and that’s definitely a celebration!
- Do Your Projections for the Year
I’m not a huge fan of columns of numbers, but this is one area where I REALLY love a spreadsheet! Make a spreadsheet (I use Excel) for every month where you track your clients, products, programs, and payment plans. That way you’ll know what money is coming in and when it’s coming.
Your practice is to keep it current. Every time you get a new client or sell a product, add it to the spreadsheet. It becomes fun!
You’ll be able to identify the good months, and plan ahead for the slower ones by creating new offers, sending more emails, and inviting new opportunities. When you look at the year as a whole, it gives you a real picture of where things are AND where they’re going.
Did I mention you will feel more empowered?
- Keep Up with Your Expenses
You’ve probably already got a system (if not – that’s your homework!) for tracking your expenses whether it’s QuickBooks, or a bookkeeper or an accountant. That’s a great place to start, but it doesn’t always feel very hands on.
I find that I get a better sense of how my money is working for me when I keep a list of my recurring expenses for every month. That includes things like subscription services, coaching programs, apps you renew monthly, and things you buy every month (for me, it’s books and card decks!).
Everyone’s list will look a little different, but when you’re tracking those expenses month by month you get a MUCH clearer picture about where your money is going.
Plus, at the end of the year you have a comprehensive list of all the things you’re paying for, and that helps you weed out some of the unnecessary expenses, like all those monthly subscription fees that build up over time.
- Set Your Money Flow Goals
How much money do you want to make this month, this quarter and the year? That’s your money flow goal. When you’re intentional about your money goals you’re far more likely to meet them.
When you focus your energy and get clear about your intention, things start happening! You see where you need to follow up with clients, or where you can focus more of your attention to generate more revenue.
- Find Your Own Heaven
OK, if you started feeling squirmy about setting a money goal – I’ve got a sure-fire creative way to make it easier for you.
Create three money flow goals – easy, great, and heaven.
Easy is pretty self-explanatory! These are simple ways to bump up your efforts to bring in money without overwhelming your schedule. It might even be what you created last year.
The Great category is where you do some brainstorming and step a little bit out of your comfort zone by coming up with creative ways to bring more money into your business.
When you set your Heaven goal, the sky’s the limit! What would be the most amazing (but still within the realm of possibility!) money goal that you could set for your business?
A Heaven money flow goal requires commitment and dedication to manifest that revenue, but it’s not a pass or fail goal! Heaven means you step out of the box and imagine what it would take to achieve this goal.
My two favorite questions here are: What would I have to DO to make this money goal and who would I have to BE.
- Align Your Energy
You want to eliminate friction with your money, and the best way to do that is by aligning your energy.
Start by looking at how you bring in new clients. Do you have a format for client onboarding? How do you take payment? Where is your money flowing freely and where is it encountering friction?
Once you’ve located areas of friction, it’s time to start smoothing out the process. Maybe it’s time to create new systems that make it easier for money to flow into your business.
- Have a Money Power Hour
It can be once a week or twice a month – but whenever you commit to your Money Power Hour, put it on your calendar and stick to it!
This is your non-negotiable time to sit down and get cozy with your finances! Use your power hour to make sure you’ve got everything in order. Your forms are filled out, you’re tracking your revenue and expenses, and you know EXACTLY what your money is up to.
This is your time to answer questions about billing, have a conversation with your bookkeeper, or make a list of things you need to follow up on.
If everything is in place, great! When you have time set aside for your Money Power Hour, you’re making the commitment to have a great relationship with your money.
I hope these 7 tips help you build a wonderful, empowering, ongoing relationship with your money. Taking back your financial power feels amazing, doesn’t it?
You are now opening up to more money coming into your business just by taking back your power!