How Your Money Story Impacts Your Bottom Line

I was speaking to a business owner that I’m going to call Angela to protect her confidentiality. Angela is in business with her husband and was pretty frustrated with their results. See, Angela and her husband weren’t charging for their services.

Her husband was very clear that if they were going to build a profitable business, they would have to increase their fees otherwise they weren’t going to be in business very long.

Angela didn’t realize that her money story was actually driving her actions and keeping her from charging more for their services. Growing up, her dad handled the money so she’d developed a belief that it was a man’s job to handle and manage the money. She actually thought it was rude to talk about money, let alone ask for it.

Angela didn’t realize that this belief about money was controlling her actions and impacting her ability to make money in her business.

It’s important to know and understand your money story. How money was discussed, handled and managed when you were growing up will affect how you relate to money and determine how much revenue and profit you generate in your business.

“Limiting beliefs create limiting habits and limiting habits create limited success, results and profits.” Below are five common limiting beliefs about money and examples of their impact. Review the list and determine if any of these beliefs are standing between you and your next level.

1. Rich people are crooks
   • Impact: You want to be rich but you don’t want to be called a crook
2. It takes money to make money.
   • Impact: You think to achieve your money goals you need money therefore you don’t even try.
3. Spiritual people aren’t supposed to be wealthy/rich
   • Impact: Because you’re a spiritual person, you’re not supposed to make lots of money.
4. Money doesn’t grow on trees
   • Impact: Because it doesn’t grow on trees, money is hard to come by.
5. Money is the root of all evil
   • Impact: You don’t want evil and bad in your life so you get rid of your money.

You may have very different money beliefs and experiences than those listed above. One thing you can do to keep the dollars flowing into your life and business is to get clear about your relationship with money. Then determine if those beliefs are working for you or against you.