“Treat your business like a business and it will make you money. Treat your business like a hobby and it will cost you money.” 

Money, money, money!!!

Money Mindset

Money doesn’t grow on trees. A penny saved is a penny earned. Money is the root of all evil.

What do you believe about money? It will show up in your business. Did your past lead you to believe there is too little money or plenty? Are you free with money or do you hold it tight?

What people believe about money can greatly impact how money flows into and through a business. How do you help your team explore what they believe about money? Start with one of the statements above. Ask what is between the lines. After you have explored several money messages, discuss how they may be limiting personal success around money. Remind your team that they are in control and can make different choices about their money beliefs.

Money Management

Add a money management section to your leader’s notebook. Document how you manage your business money and teach your team.  Keep it simple, start with teaching them to open a separate checking account for business and to deposit ALL their revenue/commissions to this account, pay all their business bills from this account and then pay themselves. They will quickly realize just how much money they are making and where they are spending money in their business. They will be very happy you taught them this one simple money management strategy at tax time! Help them see that the same budgeting skills they use to run their home and family apply to their business.

Money Multiplication

We began with the word invest and we end here. As you and your team invest your time & money well and invest wisely in yourself, begin early to save and invest for the future. You will have the resources to weather any ups and downs in your business and a plan for a secure future.

This is the last article in a five part series of leading your team to treat their business like a business.

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