Your attitude to Money will make or break your Business
Money is an integral part of owning a business. Your attitude to money plays a huge role in determining the level of financial success you achieve throughout your life.
Are you a saver or a spender?
Do you live pay check to pay check?
Do you like to “keep up with the Jones'” as the saying goes? Or, is saving for a rainy day more your thing?
Perhaps you are an older entrepreneur that needs an income boost for retirement following retrenchment.
Whichever you way you roll, money plays an important part in your life. We explore this in Knowing Yourself with a 360 degree tool.
If you’re thinking of starting or owning a business, however, the importance of understanding money is crucial. It’s one of the topics in our Fundamental Four episode.
Knowing how to use your money wisely to get your business thriving is critical to long-term business success. Having realistic ambitions for your business that tie in with your motivation for owning one is a great place to start.
We also explain how money can cause friction in your relationships. The impact of owning a business on your family and friends is often overlooked.
Conversely, if you are not great at managing your money, you run the risk of limiting your business’ potential for growth. Of course, in the worst case scenario, you could kill it!
In this episode, we chat about some things you need to consider in relation to money in business.
The information contained in this podcast is general and does not take into account your situation. The content does not constitute business, legal or financial advice and should not be used as such. You should consider whether the information is appropriate to your needs, and where applicable, seek professional advice from a business adviser, financial adviser or lawyer in your jurisdiction. To find out more, please go to www.ShouldIOwnABusiness.com.