Aired on September 3, 2020

Episode 57

3 Biggest Money Mistakes Business Owners Make

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"Uncover the 3 biggest money mistakes business owners make and learn how to work smarter, not harder. Belinda Rosenblum shares her expertise to help you grow a profitable business, enjoy true lifestyle freedom, and take home real money consistently. Don't miss this insightful discussion!"

3 Biggest Money Mistakes Business Owners Make

Today’s topic. I think it is so important, but sometimes it can be scary to talk about money, right?

In this episode, my good friend Belinda and I are talking about the 3 biggest money mistakes business owners make that cause you to work a lot harder than you actually need to.

Belinda Rosenblum, CPA and Money Strategist, founded Own Your Money and created the signature Cash Flow CEO program, to help ambitious women entrepreneurs grow a more strategic, profitable business so they work less, profit more, and finally take home real money consistently.

Belinda is also the coauthor of SELF-WORTH TO NET WORTH: 12 Keys To Creating Wealth Inside And Out, and became a self-made millionaire at 33. She believes money management + entrepreneurship can be fun and provide true lifestyle freedom — after all, isn’t that why we got into business? If she’s not inspiring you to be your best self, Belinda is likely enjoying the sunshine and chasing after her marathon-running husband, college junior step-daughter, and 2 spirited young kids.

If you want to know why learning how to sell and have a better understanding of how to manage your money go together like peanut butter and jelly you want to stay tuned for this discussion.

1. The trap that keeps us stuck with our money

Money is simply an exchange of value and a tool for each of us to use.

2. The metric business owners are often forgetting about when focusing solely on revenue

Focusing on your own Profit Plan instead of comparing your results to big launch numbers that folks talk about will help you stay aligned to what’s important for you. Why not all revenue is created equally.

3. How we’re not really stepping in into that CEO mindset

The biggest reason why as business owners we often are afraid to bring in more money because we’re afraid we won’t be a good steward with it and think it may be easier to just have less.

Biggest Takeaways:

Money is simply an exchange of value and a tool for each of us to use.
Focusing on your own Profit Plan instead of comparing your results to big launch numbers that folks talk about will help you stay aligned to what’s important for you.
Why not all revenue is created equally.
The biggest reason why as business owners we often are afraid to bring in more money because we’re afraid we won’t be a good steward with it and think it may be easier to just have less.

Highlights:

Why is it so hard for all of us to openly talk about money? [04:32]
Mistake #1 – the trap that keeps us stuck with our money [10:05]
The problem with comparing the front stage of everybody else with our own backstage [15:12]
Mistake #2 – the metric business owners are often forgetting about when focusing solely on revenue [19:39]
The challenge of using Profit First ® strategy when you’re starting out and what you can do instead [21:40]
Mistake #3 – How we’re not really stepping in into that CEO mindset [34:20]

Want to know how to create consistent revenue and get off the feast or famine roller coaster?

If you want to maximize profit without having to spend hours creating more and more and instead want to be able to tap into the gold mine of past customers so they become ongoing, HIGH paying clients, you want to check this out right now.

Grab Belinda’s free resource and gift to you to learn 5 simple ways to create consistent revenue in your business: www.susanmcvea.com/belinda

Struggling to figure out how to price your program so it sells like hotcakes?

Grab this deep dive training to find out 5 different ways to instantly raise your prices and give yourself a raise and my simple “Goldilocks” Pricing Framework to never again wonder what to charge. www.susanmcvea.com/pricingyourprogram

Other helpful resources:

Dashboard: Know and Track the Most Important Numbers In Your Business In 10 Minutes Per Month: www.susanmcvea.com/getdashboard

Belinda’s book: SELF-WORTH TO NET WORTH: 12 Keys To Creating Wealth Inside And Out – www.SelfWorthBook.com

Send me your burning questions:

Send me your questions and I will profile you here on an upcoming show.

Find out more about me here:

Connect with Belinda on social media here:

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