I am not worth the money that clients are paying me.
I am bad with money.
I tend to ignore my personal and/or business finances.
I don’t understand money management.
I feel like a fraud when clients pay me.
I will never be wealthy.
Have you ever had any of these thoughts?
For many of us, owning a wedding and event planning company is the first time we have ever owned and managed our own business. With ownership comes responsibility for cash flow. We are in charge of booking events to get money in the door. Then we are responsible for paying out cash for business expenses such as advertising, educational events, business software, event planning software, website hosting, website design, staff, assistants, and other business expenses.
After we get clients in the door to give us money and pay out the necessary expenses to run the business, we need to pay ourselves. This is one place where our money beliefs can get us into trouble.
I am not an expert at figuring out money beliefs and how to understand and overcome them. However, I have read many articles and books that have helped me understand my relationship to money and how that affects my event planning business.
Once you understand your perspective on money (which is often wrong, misguided, or skewed), you can remove that block from your life and business. Having a healthy and positive relationship to money and finances opens up many doors for growth, freedom, and success.
Here is a list of resources to help you figure out your money behaviors, the motivation behind them, and how to get past them.
Adjusting to your Prosperity by Danielle Laporte
How to Create a Home for Your Money by Kate Northrup
15 Ways to Improve Your Relationship with Money on Forbes.com
Mind over Money book on Amazon
Are Your Money Beliefs Blocking Your Income Growth by Anne Marie Cross
Is Your Money Mindset Crippling Your Company on the Washington Post
If you have other resources that have helped you, please share in the comments!