I am quite sure you know that having clutter around your home and office depletes your attention and energy.
Note: If you don’t know this already, then please get in touch with me and I’ll send you some helpful references about this.
In the same way that physical clutter can detract from your business, money clutter also detracts from your business. Here are 5 steps for you to take to clear out the money clutter – so you can earn more money!
- Know the definition of money clutter, i.e., mess, distress, interference, and disturbance related to financial issues. Ask yourself if you have any mess, distress, interference, or disturbance related to money and financial issues. If you are a business owner, then it’s quite likely that you do.
- Acknowledge the cost of money clutter. I know from my own experience when I had money clutter as well as from coaching clients around the issue of money that the cost of money clutter is extraordinary. It costs time, relationships, health, energy, and peace of mind. The cost is too high to ignore.
- Make sure you have a separate business checking account. If you are commingling your personal and business funds, you have serious clutter. Take care of this today. I’m serious.
- Open a separate business savings account. If you think, ‘Well, Meggin, if I had a lot of extra money in my business checking account, then maybe I’d need this.’ I would say to you that you need to prepare a place for the extra money you will earn AND you need to make sure that you have an adequate cushion of money saved for business expenses. It’s essential to manage your cash flow as a successful business owner.
- Take a good look at whether all of your clients are current on their payment to you. Clients who don’t pay on time, who bounce checks, or who are overdrawn on their credit cards may need your services or your products, but they can’t get receive those services and products from you unless they have paid what you have asked them to – at least not for long. The reason they won’t be able to get what they need from you if they don’t pay is because you will go out of business – and won’t be able to serve them or anyone else. Clean up this area of mess, distress, and disturbance to the energy of your business.
In essence, all of these are fairly straightforward. It doesn’t mean that implementing these steps won’t take some focus and some effort. It will. But the pay-off…
Staying in business. Making money. Serving more people. All sounds good to me!