Why did you start your business?
Take a moment right now to sit and think about the first days or weeks before you opened your doors.
A lot of people jump right into business because they think they have a great idea, want to make more money, or don’t want to be lorded over by a boss. You may have started your real estate business to provide passive income, but quickly realized that a lot of it is not passive at all. I bet you didn’t start your business to feed the cash-eating, time-sucking monster it’s become.
In order to stay in business and beat the odds we all know about the long-term viability of a small business, you will have to take control of your business finances. You will have to treat them seriously, take action, and be proactive and not reactive to stay in business and thrive.
You started your business to make you money and to help you accomplish your “why.” You deserve to know where your money is going, manage it as competently as possible, and make more money than you dreamed of even when starting your business. You deserve to achieve your “why” and your passion. You deserve not to be stressed and confused.
You will have to commit to being more profitable and keeping your profit a priority over the course of your business life. You will have to change your mindset and implement systems for your profit.
In the end, it will be worth it because growing and learning and implementing good change will always yield good results in some form. In this case, I want that form to be more profit in your bank account so you can achieve the big goals and dreams you set out to achieve at the start of your business journey.
young smiling african american businesswoman with coffee cup in city
Changing Your Behavior
I have found that if you can do what you’re already doing and leverage it to form behaviors that are more conducive to making and keeping more profit, you will be more apt to retain those behaviors and actions over the long haul.
Let me give you a personal example. In about a year’s time in 2018, I lost 30 pounds. Before I lost that weight, I was the heaviest I had been up to that point. I felt slow and sluggish. I didn’t like how I looked in the mirror and didn’t have the energy I wanted. I knew something had to change, only I knew that a lot of diets don’t work because they are not sustainable long-term, and I wanted to do something that could fit in with my daily routine.
I basically said I need to consume around 1,800 calories a day to lose weight over a period of time, so for 2018, I kept track of my calories for about a month. After that month I basically knew what 1,800 calories were in a day for me. The biggest trick was that I was still eating the food I loved.
In my head, I had tricked myself into thinking I didn’t make a huge drastic change. I ate the food I loved, but I just had smaller portions, and I didn’t snack all day every day like I used to. This helped me lose the weight I wanted to. Today I have maintained my weight on a more normal calorie intake during the day, and I have taken up kung fu which has added exercise to my weekly regimen and helped even further.
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