How to disengage from the “money trap”
17 Feb 2012
Dear Helen,
I know I need help and to be able to hire out various tasks if I want my business to grow. But (and it’s a big but), I don’t have enough money right now to do so. I’m very aware this is a real trap for entrepreneurs, but it’s one I haven’t figured out how to disengage from.
- Under a Cloud
= – = – =
Dear Under,
This is something we all grapple with, and it doesn’t go away as your business grows. It just looks different. So you’re wise to address it now while it’s early in your business.
The simple (and seemingly glib) answer is one I heard from one of my coaches: “Go out and get some clients.” Then you’ll have the funds to begin outsourcing the things you don’t want to or shouldn’t be doing.
Here’s how to do that. Look at it as investing in yourself, and start small; hire a virtual assistant for five hours a month to filter your email (or whatever). Then –and this is the crucial part- use those additional five hours you’ve gained on client-generating activities (marketing and program development). As you create new programs and bring in more clients, you’ll be able to outsource more tasks.
Behind the simple answer is the real culprit – mindset. In other words, this is a chance to use the sincere need for income as a motivation to stretch into new action and behaviors (the discomfort zone) so you increase your cash flow.
My guess is, you’re focused on the money “you don’t have” rather than on creating what you need/desire. Look for a solution from the perspective of the business you want to have (not your current “reality”). Ask yourself, for example, “As a $100K-a-year business owner, what’s the decision I need to make to start building my team?” It’s a subtle distinction, and one that creates a powerful shift in outcome. I can say from personal experience, it works.
How do YOU stretch into the next level?
Share your comments