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Am I the only done with his hyped up, surface level conversation around money?

Honestly, I think a lot of the current monetary and business finance advice is insufficient (and unhealthy) for the modern-day business owner.

It has three major shortfalls in my opinion, see if any of these resonate with you.  

ONE, the current advice generally only addresses tactics, methods, how-to’s or frameworks.

These are action-based, proclaim to be absolute answers, are implied to be true and effective for everyone and negate to address our ‘internal state of being’, aka how we actually feel when it comes to money. 

And from experience, I believe we are not managing money, we are managing our behaviour around money. That means the ability to take action originates from the inside out. Not the other way round. This type of advice leaves the business owners feeling like something is wrong with them when the can’t enact the advice. 

TWO, these tactics or how-to’s in the current array of advice, are very much geared towards people who present particular personality traits or behaviours.

 

They could be considered more black and white decision-makers, they use reason only to make decisions, they are realists, like data and facts. They prefer language and logic as a means of communication. They see themselves clearly as an individual in this world and make decisions to look after their interests.

And from experience, I’ve noticed many more business owners desiring to do well financially, use their business for good in the community and live values-led lives that do not function this way.

They work more from conceptual thoughts, thinking in images, creativity, fluidity and music. They are motivated by inspiration instead of obligation or restrictive plans or schedules. Decision-making can feel very grey, they see themselves as part of the collective of humanity and environment in which they live. And the current financial advice falls short when it comes to making money their way.

Shortfall THREE, most of the current financial advice for a business owner is generally void of empathy, compassion or emotion.

It ignores there is a human on each side of the transaction. It also ignores our need to consider our impact on the environment.  How can we run a sustainable and profitable business? Or at the very least take small steps to being what I see as a radical act in today’s society and that is to be financially  well and attuned or balanced in our lives? 

So what does being Financially Well even mean?

– that money is a consideration in our lives but not an overall cause of stress, anxiety or overwhelm.

– that you make financial decisions with ease, confidence and uphold boundaries.

– you no longer resist speaking about money or ‘put your head in the sand’ when it comes to financial tasks.

– you feel empowered to use money in the way you see fit.

– you can use money as convenient method to live a values-led life.

To do this we need to look at money from a more whole perspective. 

I call this our ‘Financial Capacity’. And over the next few weeks these blog posts will:
– explore and open a discussion around what this is
– why it matters
– and what potential factors are expanding or contracting our financial capacity.

To help explain what our Financial Capacity is…

I define it as our ability or allowance in our lives to generate, circulate and accumulate money, wealth or abundance.

** It is more than just our ‘mindset’, earning capacity or financial set-point. 

To me, it is more like a bubble or container, an invisible receptacle if you will, of what we allow to come into or through our lives. We both allow it consciously and/or unconsciously.

It can be visibly seen through our earning levels or purchasing decisions such as our bank balance, the clothes we wear, the car or house we buy, the tangible things that result from our financial decisions. But this is surface level stuff. It’s what’s really happening under the surface that I find most intriguing. 

Our true Financial Capacity expands and contracts due to many influences. It’s completely individual.

Some influences include but are not limited to:

– who we hang out with

– what we say to ourselves regularly

– our upbringing and that of our parents

– our relationship with self-confidence and doubt

– environmental factors such as where we live and work, the country we live in and our education

– there’s are many other societal influences such as political and economic systems
– our ability to receive as well as give

– our financial acumen or education

– our values, priorities and personality

There’s a lot at play here, I get it.

This is all about exploring and opening up conversation to have dialogue around these ideas. Self-reflection, in my opinion is way more impactful here than following a cookie-cutter “fix your money mindset” program.

In the next post in this series we will be chatting about familial influences and generational differences that impact our financial capacity.

We do further in-depth work in the program called Illuminate: A Money Program for Women in Business, check out the next time this is being run!

And if you’d like to delve deeper into the work on an individual basis, please check out the particular form of behavioural Money Coaching I find most effective.