Have you heard the expression ‘thoughts become words; words become actions’? It’s the idea that our thoughts, words, actions, habits, values and destiny are all interwoven, and it’s why I’m such a firm believer in mindset and gratitude. Plus, a finance and money mindset coach, I’ve seen time and again how your money mindset shapes your financial future. That’s especially true for those running a business or thinking of starting one. If you’re an entrepreneur, your relationship with money can either hold you back or set you up for success. In this blog I’ll be taking a closer look at the link between our money mindset and financial future, then sharing some simple but powerful tips to help shift your money mindset and set you on a path to financial growth.

A deeper dive into the impact of money mindset 

Your money mindset forms the foundation of every financial decision you make, which is why it plays such a key role in shaping your future – for good or for bad! Here are some examples for you:

• If you believe money is scarce or hard to come by, or that you never make money, you’re more likely to play it safe. You might avoid taking calculated risks or even struggle to feel as though you can invest in your business. 
• On the other hand, a growth-oriented and abundant mindset will probably encourage you to see opportunities. You’ll approach challenges with confidence and make decisions that support long-term success. 
• Whether it’s saving, spending or investing, your mindset acts as a filter through which you view your finances, influencing the actions you take – and the results you achieve.

So, now that you know how important it is to develop an abundant mindset and wave goodbye to scarcity for good, how can you shift gears? Some of the actions you need to take will depend on your personal limiting beliefs, but I’ve gathered some top tips to help you take control of your financial future.

1. Don’t let fear of financial risk hold you back

I know that it’s natural to feel nervous about the financial responsibilities that come with owning a business. But often, the fear of failure or making the wrong move can paralyse you. Taking calculated risks, such as investing in staff or marketing, can be key to moving your business forward. My advice would be to shift your mindset to see these risks as opportunities. Not every decision will pay off instantly, but without taking the leap, you could be holding your business back from its full potential.

2. Budgeting without being too cautious

Many entrepreneurs I speak to worry about budgeting. But being too cautious can mean thy risk missing out on opportunities to reinvest in their business, whether that’s upgrading equipment, hiring support, or launching a new service. A healthy budget is balanced, so I make sure people are keeping an eye on their expenses while also allowing for growth. 

3. Know your value

Undercharging for your services is one of the most common mindset challenges I see among business owners, particularly those just starting out. There’s often a fear that people won’t pay or that you’re asking for too much. But pricing your services too low often leads to burnout as you work more hours to balance the books. Believe in the value of what you’re offering and set prices that reflect the quality and expertise you bring to the table. Your customers will pay for what they see as worth it, and it starts with you recognising that worth yourself.

4. Don’t be afraid to seek funding or support

Whether it’s taking out a loan, applying for funding or even seeking advice from a finance coach, don’t let pride or fear stop you from getting the support you need. Many entrepreneurs see debt as something to avoid at all costs, but when used strategically, borrowing can be a great tool for scaling your business. Working with a finance coach can help take a huge weight off your shoulders, giving you someone to bounce ideas off and allowing you to focus on what you do best. You certainly don’t have to do it all alone!

5. Think long term, not just in the moment

It’s easy to get caught up in the day-to-day when running a business, but focusing only on short-term gains can make it harder to plan for your future. Instead of reacting to immediate pressures, you can try to take time to set long-term financial goals. This could mean setting aside money for expansion, planning for retirement or ensuring you have a rainy-day fund. 

6. Celebrate every financial win

Whether it’s paying off a bit of debt, hitting a revenue target or simply making it through a tough quarter, take time to recognise your financial wins. Building a business is hard work and acknowledging those milestones, however small, helps to keep you motivated and reinforces a positive money mindset.

I hope this blog has shared how your money mindset shapes your financial future and inspired you to make changes. Shifting your money mindset isn’t about magical thinking or sudden breakthroughs… It’s about working every day on your money mindset so that you can gradually change the influence you’re having on your finances. I hope that will help your bank balance align with your business and personal goals. If you’d like more support in transforming your financial mindset, I’d love to have a chat to see how I can help.