There is No Wrong Choice

When you run your own business, you make a lot of decisions, mostly on your own. That grants you enormous freedom, but also leaves you with immense responsibility. This responsibility often hangs over our heads: what if we don’t make the right choice? We stall the flow of our businesses by avoiding tough decisions.

I, for one, have definitely struggled with this. When I was running my jewelry business as a full time project, I often put off making decisions. My avoidance of them was fear-based and emotional. I felt like I had to nail every choice and do everything by myself. Not having anyone else to bounce my ideas off of left me frozen and fearful. You can read more about my experience running my jewelry business here

Since then, one of my major breakthroughs was realizing that there is no wrong decision. No matter what I decide to do in my business, I am always able to learn from that choice. If something I do turns out to be a mistake, I find a way to recover and learn not to repeat the misstep. However, I find that the vast majority of choices I make in my business are not typically so high-stakes. Often, I’m making choices about how to utilize social media, what to include in a proposal to a client, etc. I can agonize over the details, but at the end of the day, every choice I make is just another step in a larger experiment: my business! And the purpose of my business is to support me and my life goals – the choices I make within it don’t need to be stressful or fear-fraught.

What are some strategies that could help you breeze through decision making with your business? Perhaps you can get comfortable trying out systems and ideas on a trial basis. Maybe it would be helpful for you to find an accountability buddy to talk to and discuss ideas with. Perhaps hiring on an employee or contractor and delegating some of your workload can take some of the pressure off. It could be helpful to journal and investigate the fear or emotions that are blocking you from making a decision. Simply approaching your business with the mindset that you can learn from all your choices can also help alleviate this.

Making decisions in your business confidently and with an air of curiosity and experimentation can make your business more fun for you. And really, isn’t that what we want?

I hope this post inspired you to go forth confidently and make any moves you’ve been stalling. Go get ’em, tiger! If you find you could benefit from an accountability partner and you’d like guidance around your financial systems, I absolutely love to support solopreneurs around these things. Head on over to my Services page, and schedule a call with me.

Angela

Image Source: Amy Shamblen

 

How to Set Informed Income Goals

How to Set Informed Income Goals: At Peace With Money

This article is the fourth in a month-long series on taking care of your finances as self-care. Specifically, I’m focusing on what you can do with your money to take care of yourself and improve your business in 2019. You can read the whole series by clicking here. 


One of my favorite sayings comes from the artist-turned-business mind Jennifer Armbrust: “A business is a needs-fulfillment machine.” Your business exists to support you; to fulfill your needs. However, if you don’t have a clear picture of what those needs are, it can be difficult for your business to fill them. This week, I’m suggesting that to really financially care for ourselves, we investigate the true costs of our lifestyles. By doing so, we will be able to make informed decisions about what income goals we’d like our businesses to meet. 

The Process

Time to take a realistic look at how much money you’re spending every month. Dig up the past three months of your bank and/or credit card statements. (For most of us, these should be available online). Go through line by line to see where your money is really going. Total up all the expense categories, i.e. groceries, utilities, rent, etc. 

Once you’ve got your totals, you have a realistic picture of how much money you need on a monthly basis. At this stage, you may find it helpful to look critically at your lifestyle, and see if there’s anything you’re interested in culling. If you’re looking for some ideas around creating a budget or spending plan, I’d recommend these articles of mine. Click here. 

Set Informed Goals

Whether you decide to create a spending plan and reign in your expenses, or feel satisfied with your lifestyle costs, you now have a complete picture of your financial needs. At this point, you can now set informed income goals that are designed to meet those needs in your personal life. Without this crucial information, your goals will just be shots in the dark, aimed at an amount of money that “sounds nice” but doesn’t tangibly satisfy a need.

Additionally, once your have this information, you can also take a look at how your business is doing in its current state. Is it making enough to support you? Whether you’ve got a side hustle or something you want to stretch into a full source of income, checking in with this question is important. If your answer is no, you can start to strategize around how you might close that gap. For more ideas on this, check out this post.

I hope this post inspires you to keep working to create a business that truly meets your needs. If you’d like to work with an accountability partner or need coaching around this, please check out my service packages and don’t be afraid to schedule a curiosity call!

Angela

Image Sources:  rawpixelMelissa Askew