Did you know that cashflow is a leading source of stress for many business owners?
Why? Because so many of the basic activities of not just business but life are associated with money and it's management.
There is not one area of life that money doesn't touch.
When your cash flow isn't healthy, you have to live in a state of constant panic, wondering when the next payment is going to come it to pay for basic running costs like rent, wages and stock etc.
This stress and frustration will often be visible to the entire staff, which may create an undertone of unrest and a lack of confidence in the business. This will only make things worse.
When we are stressed, in a state of panic and paralysed by cashflow constraints, it causes us to focus too much on the problem, which further compounds negative thoughts and negative behaviours, shutting down our mind to see or focus on the solutions to fix the problem.
Here are a few ways to better manage yourself and start managing your money:
1. Change your mindset and start to focus on the positive and problem solving strategies.
2. Make some quick wins (price adjustments or maximise your gross profits).
3. Focus on your long term strategy (how to sell more effectively).
When not managed accordingly, stress from cashflow problems can grind down your motivation and undermine your performance – not to mention, take a serious toll on your physical and mental health.
Founder - Pravar Group
Are you a Trades, Construction or Service Based business owner turning over atleast $1M p/a, and want to release the time and financial constraints in your business & life?
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