Why managing financial expectations as an entrepreneur is everything:
a few self taught observations about entrepreneurship and some tips & mantras for any creative or entrepreneur starting out as a freelancer or launching a business in 2019.
It may seem that the only thing holding you back from your latest great break, from your ground breaking idea… is the aquiring of funds -or a lack thereof, and stabilizing your company’s finances without selling out.
Yes, money and cash flow are indeed indispensable to the smooth running of your business, to your investment power & daily activities, but focusing on the soul sucking master that is money will actually hinder your project’s progress.
Don’t let negative thoughts -inner and external- hinder you from pressing forward.
Did you know that most entrepreneurs don’t pay themselves at all in the 1st year of their practice or business launch? (cf. 3rd Foodhack entrepreneur meet up in geneva)
That’s why managing your expectations is important, nay, vital to your surviving your first years as a freelancer, entrepreneur, creative etc. (It’s not the only thing, since of course, being a part of a supportive space or talent collective, having strong mentors, creating a high quality platform on social media and having a future facing vision are also vital! But more on those aspects of entrepreneurship that can, in fact, be taught later.)
Others around you may give the impression that everything is much easier and stress-free for them than it is for you on the daily, but that is usually just good self branding or positive-outlook PR strategy. Don’t worry, they are struggling too, no matter where they are at in their journey. The confident ones compare themselves just as much as we all do.
So, how about trying to manage and lean into those moments, phases, (extended) periods of self doubt and uncertainty: doubts are a vector for progress, and fear can be a catalyser for breathing positive change into your project, you just need to accept the fact that you will have doubt, and let your mind funnel that negative energy in value adding action.
If any of these thoughts resonate with you, then contact us for a complimentary meeting and analysis of your business idea or project.
as a side note, to be developed in another article:
Stop saying you have NO budget at all: this can lead to static thinking instead of fostering agile and innovative business strategy. Create new avenues of revenue by experimenting with varied ways of inviting new business will jumpstart and inspire change to further the goals outlined in your business plan. The goals you have maybe just need better tools to be attained, stay flexible and adaptable!
Purogelato tripled Xmas Sales through communication on social media and streamlining their client pitching and on boarding process in order to embrace more orders with better organisation and a more visually and community inspired team.
i leave you with some precious things i remind myself of daily:
-where you’ve gotten yourself thus far,
-never forget where you’re headed, keep your focus! Detox from social media by unfollowing those people who make you feel shitty about where you’re not. It really does help.
-manage what you expect from yourself in order to tend towards mental peace of mind.
-if and how your network can help and support you in your communication process. (Answer: they can! Up to you to coach them on your perfect sales pitch!) maybe they just don’t get certain aspects of what you do. Explain to them, let them know they can always ask questions.
-how the thought of Money or lack of it affects your creative mental processes and hinder your accomplishments, what could you be using your time to create instead?
-think about how much of your stress (about things out of your control usually by the way) is influenced by external pressure and expectations from family and friends to succeed, based of their own narrow criteria for what ‘having a normal job’ means.
-Fear and doubt sometimes (even all the time) are better than having no ideas at all. Choose bouts of doubt over never having any ideas ever again. thank yourself for having such a great brain.
-breathe. No seriously, walk 15 minutes a day briskly to clear your head, deep breathing, no phone, look up at the trees, the sky, practice mindfulness and gratefulness consciously.