Today we are fortunate to share a guest post from Kay Robinson, founder of InSight Intuitive Consulting, a business development and consulting company since 1992. Kay is a thought leader in the area of using intuition in business. She has a coaching program called Inspired Success Bootcamp, and is also an EMyth Certified Business Coach. We asked Kay to share her insights about overcoming fear of finances to create a successful legal services business.
FEAR OF FINANCES
Working as a business coach for over 20 years, I have learned a great deal about success. The most consistent indicator of success is the business owner’s relationship to their finances. Most are afraid of their finances!
My work with a business owner begins with finances because it is such a strong indicator of success. This is a personal journey as well as a logical one. How we feel about money determines our success. I ask to see their P&L, balance sheet and cash flow report. Most feel uncomfortable and might say, “I use Quickbooks so I am sure I can do that.” Or “I don’t have those reports but I know how much money I have in my bank.”
Success begins with owning your money. This means knowing how much you are making from each of your products/services, your direct and indirect expenses and more. You do need to read your business financials every month and decide how to change strategies to assure success. What is your measure of success? What are the key financial indicators you track to measure progress toward achieving your goals for the year? If you do not have these answers you may have a fear of finances.
There are very few people who do not have some fear of finances. Concepts about money are ever present. Lynn Twist, author of the book The Soul of Money, suggests that every decision we make and action we take is based on two questions that we consider consciously or unconsciously: Will this make me money? Will it cost me money? Whether you agree with her or not, you have to admit that we think about our finances a lot.
We may talk about it or resist talking about it. We worry about it. We plan for what we will do when we have more of it. But how often do we actually look at our finances and manage our financial situation in this moment? We don’t have to remain in fear of our finances – we can decide to get out. It is a choice. The result is getting to a place where we have a strong sense of our finances, and when we do we are better off financially and emotionally.
Becoming financially savvy begins with owning your money and your financial situation whether it is good or bad. What does it mean to own your money? To own your money is both logical and intuitive.
- Logically it means knowing what money you have, where you have it, your budget and cash flow needs.
- Intuitively it means having enthusiasm and feeling in control of your money, creating money, having money, spending money and saving money. It is seeing yourself in control of money on every level and enjoying your ability to manifest and use money.
Sound impossible? It is not. When we avoid changing our thoughts about money, the energy we have on money gets in the way of taking steps to really own it. I invite you to commit to changing your thoughts and energy about money and commit to taking different steps with a different perspective to have ownership. By the way, it does not matter how much money you have or do not have, ownership is so much more.
What fears do you hold in your space about money? Fear stops energy from moving, closes down our awareness, makes us hide, deny, push away, lie, etc. Write down your fears about money and finances. This helps bring them out of the unconscious spaces within you.
So how do you want to be with money? This is something that you can decide logically, but that won’t change anything. You have to go deeper to override the unconscious levels within us. Our challenge is to continually chip away at the unconscious levels that control our space. The more awareness we have, the easier it is to create.
If you cannot own where you are right now you cannot create change. Decide that where you are now is OK, then you can move forward. Decide to know where you are now. Don’t be afraid to know. Not knowing is disowning. Discard the shame, fear, and worry and trade up for enthusiasm and joy.
The most important steps are to have financial goals for the year, look at your progress monthly and adjust strategies as needed to achieve your goals. Your focus on finances will change your finances. Be determined to come out of fear and become financially savvy. It will change everything.
For more insights on planning for financial success in your divorce legal services business, visit the Divorce With Dignity business website, take a tour, and sign up for a free Success-Strategy consultation!
The author of this blog is not an attorney and the information contained in these blogs should not be considered legal advice. The information provided here is based on the experience of the author and some of her clients whose actual names are not mentioned. Do not hesitate to seek the advice of an attorney if you have any legal questions.