Let's talk money and your online business. I know scare subject right? We all would like to have more money in our lives, but we can be scared to talk about it openly mostly for fear of judgment. Or maybe you were taught it's not polite to talk about money, because I sure was. 

But Friend if you are starting out on your business journey this is one of the first things that you need to know in your business. 

It’s okay to discuss money and what you think about it

Matter of fact you really should think about money and how you view it. You’ll hear so many people talking about money mindset along your business path. 

Call it to woo if you want but, it’s a thing. If you truly believe in your heart of hearts that you have to work hard for money or it’s selfish to make more money. It will be. 

Get to work on journaling how you really feel. Don’t follow in my super resistant footstep here friend, give in early and do the work. 

I wish I could remember where this trick came from, but when I’m stuck journaling. I just write random stuff until something pops into my head that has to do about my thinking. A lot of times I will write things I’m grateful for, it helps. Another key tip here, either set a goal of journaling for three pages or set a goal of journaling for fifteen minutes. I just pulled those numbers out of thin air, feel free to pull your own numbers out that feel right to you. 

Ann Bellow, my Mastermind Girl, has a Triple Your Income Journaling mini-course and she has so kindly given us a discount code Michele for a $12 discount if you’d like to check it out! 

Ann has made money mindset a priority in her business and has had massive growth because of it. 

Here’s another doozy

Do you set your rates at the right amount? Yes, I know this is also another really difficult topic. Man, I’m hitting on all the points today. 

You’ll hear to charge your worth. Well, yes and no. You need to take into account a number of factors with this one. 

Do you know what the market is charging? 

This is a good indication of what people are willing to pay for this service. This one does take research, not everyone puts pricing out there, but some do. Start looking at the numbers. 

What is your experience? 

Do you have a ton? Just starting out? This will be a fact too. If you are able to provide a really good result in a short period of time, you can ask for more. How long will it take your client to get a return on investment from working with you? 

What are your goals? 

You can either set three goals such as good, better, best goals or you can set two numbers a bottom-line must reach this number to breakeven and dancing in the streets goal. I tend to set a good, better, best goals for myself and my clients. 

Circling back to the mindset for a second on your goals. What is in your heart of hearts do you feel you can achieve? Because if you don’t believe you won’t receive it’s that simple. You must believe you can hit your goals. 

Now that we’ve tackled the hard stuff

Let’s talk about money in your business. What makes your business a success? 

If you have a profit. 

Profit is all your expenses less than the amount of money that you make. Sounds easy peasy right? 

Are you tracking your profit? 

It may sound super simple but are you actually tracking your profit and how much you have coming into your business? 

Are you budgeting your expenses each month so you really have a forecast of what you must make to cover your expenses? 

As a business owner, your revenue will ebb and flow it is what it is. It’s important to forecast how much you will be spending each month.

In case you need this, make sure you include in those monthly expenses how much you will be paying yourself. 

It was somewhere during year two of my business that I pulled my head out of the sand and started to really look at my numbers and what I was bringing in each month. 

Where do you start? 

It starts with knowing how much you bring in to your business and how much you have gone out of your business. 

This will tell you if you can add that new application or if you can afford to invest in another course. 

I personally like to keep this information in a Google Sheet. 

Want my super simple easy-to-use money tracking template? The sign up is below. Is it time to make profit a priority in your business?