Right Mindset for Business Matters among Women Entrepreneurs

What do is mind set?

Mind set is defined as a fixed mental attitude or disposition that predetermines a person's responses to and interpretations of situations. Meaning a person believe that his basic qualities, like their intelligence or talent, are simply fixed traits.

Mindset for business is not right

The truth is, if your mindset for business is not right, no amount of coaching, consulting or mentoring will help you succeed. Only you have the ability to adjust and change it. If your hope is to thrive in business, it is crucial for you to manage your mindset.

Money is not the the main reason why there are many women entrepreneurs struggle to get their businesses off the ground surprisingly. It is the self-sabotaging thoughts, attitudes and beliefs they have placed upon themselves. It is the limited intentions, expectations and habits they have grown accustomed to in their lives.
 
Women are having very common traits but are not easily recognized

Many women think they lack growth in their business because of something they are doing incorrectly with their marketing or social media efforts. Sometimes, that is the case – but more times than not, they simply don’t have the right mindset for business.

Before you start and move forward in business, change should be in the way you think and handle things in your life. It can be hard to believe how much our mindset can be our worst enemy and our biggest asset at the same time. In reality, it is our inability to control it that causes some of us to give up and eventually, fail.

The only way for you to live your passions and be able to pursue your purpose is for YOU to make the decision to own your life and take control over your mindset.

How to become Financially Free and Start a Better Life

What does financial freedom means?

It is once you have enough money coming in monthly, from your investments, in an amount greater than your monthly expenses, you will be financially free.
Is it possible for most people to become financially free?
Yes, everyone can be financially free even if you are stuck a lot of debt at the moment and you think that there’s no possible solution on your problem or even you are earning a small salary and you have a lot of financial responsibilities.


Steps to follow if you want to become financially free:

1. Find a reason
2. Believe it is possible
3. Educate yourself
4. Make the decision
5. Create a plan
6. Persevere and follow your plan

1. Find a reason
 
Do you have a good reason to become financially free? The perfect reason I’m referring to is to have a dream. A dream that must be worthwhile or something that is worthy of your time, money, or effort spent. That dream will keep you motivated and focussed on your goal, when the  journey of life gets too tough.

2. Believe it is possible
 
Financial freedom does not depend on your gender, race, education, job, salary, where you live, the amount of debt you have, or anything like that. You’ll never be able to do something if you don’t believe it is possible. Luckily, for most people, it is possible to become financially free. You will be financially free depending on your spending habits and your attitude. The best thing to do is to adopt the right attitude and control your attitude in spending your financial resources and you’ll be financially free.  

3. Educate yourself
 
You should know more about money, the better you’ll be able to use it. Financial freedom has everything to do with how wisely you use your money.

4. Make the decision

Since you already have the knowledge about money. You can now become financially free and the next thing to do is to make a decision. Making a decision is very much important, you will decide to carry on with your life as it is, or you can decide to pursue your dream. On this time you should know that your decision will cost you some things. You have to decide for your self whether to sell your car and buy a cheaper one, or even manage without a car completely; you may have to move into a smaller apartment.

You should be ready to make the sacrifices and changes that you’ll need in order to get out of debt and become financially free. The journey to financial freedom starts with a decision.

5. Create a plan

Now that you know where you are heading, and you’ve made the decision to go there, you need to plan how you are going to get there. You need to create a financial plan for yourself.
Your financial plan is your road-map to financial freedom. Just like the road-map you use when you drive somewhere, your financial plan shows the different stops and stages that you’ll have to make on your journey to financial freedom.
You can create a  financial plan for yourself if you have enough knowledge on how to create it. If you don't have any idea how to do, it is better to consult a financial advisor to help create your financial plan, or at least, to check if the financial plan you made has something to be improved. When your financial plan is ready, he only thing that remains is to follow it and start your journey.

6. Persevere and follow your plan

You have everything you need to become financially free. You have a dream, you have the knowledge you need and you have a plan that can make your dream a reality. At this stage, you need to remain disciplined, motivated and focused on your destination.The important thing that stands between you and your dream at this moment, is you.

Tips on how to overcome your Bad Financial Habits

Your current habits reflects your life. So if your bad financial habits are impeding you from enjoying a life without any debt and being financially independent. Well that's a big problem to resolve. The best thing to do is to make accurate and proper choices and carefully watch out financial changes. Here are some tips you must undergo if you are willing to change your bad financial habits.

Identifying your Bad Habits

It is very difficult to get started if you are not aware of things you are doing wrong. You must analyze your financial status carefully if you are suffering from serious financial issues before moving forward.

You have to identify first if those problems or questions really exist in your life. Below are some important questions you have to ask yourself
1. Are you overburdened with debt?

2. Do you often face trouble while meeting your payments?

Go Cash-Only

If you have credit cards and you want to buy something essential through credit card then avoid using them for any purchase which is less than $50. Credit cards may tempt you to overspend and you can get away from them if you don’t carry those with you all the time. if you are drowned with excessive debt then try to leave all your credit cards at home or in office. The best solution of your problem is to stick to cash purchase for all your transactions.

Work on One Habit at a Time

Your bad financial habits can’t be changed overnight or in a day. Just try to work on all the problems at once then there are higher chances of failure. So work on individual habits on consistent and steady basis. You can formulate a short term and long term goals for yourself and work on them one by one. Once you achieve success on any one habit, it will give you confidence to tackle with others.

Don’t be Over Conservative with Your Money

Paying attention with your money the way you spent every penny  is always a nice thing as this habit can make you a good financial planner. But if you remain over conservative with your money then you may miss an opportunity to appreciate your money and this is one of the bad financial habits, which is worth changing. You can talk with your financial advisor on this case s and seek what investment avenues you should choose in order to earn stable and safe returns on your invested money.

Credit Cards  Switching Constantly must be Avoided

If you are planning to consolidate debt from multiple credit cards but not cancelling those accounts then there is a big possibility that you may end up digging a bigger hole in your financials. It is nice to opt for credit cards which offer best deal but switching credit cards on regular basis may create negative influence on your credit score.

Impulsive Shopping must be avoided

Sometimes, you may get trapped in impulse shopping unexpectedly in order to avail the recent offers available in the market.  The best thing you should do is to make shopping as a plan activity by listing out items you want to buy within definite budget. Shopping must be handled responsibly or else may become addictive on it.

Emotions  must not Influence Your Finances

There are people have a habit of spending emotionally to revive their mood. They usually spend excessive amount of money on their pocket for the undesirable items in order to raise their self esteem. It will surely affect your financials badly and will mislead you. Base  your spending decision  on your current financial status and budget.
 
Don’t Spend Everything You Have

If you have your savings or any investment don’t spend it for anything less than a risk free and profitable venture. Spending your savings stupidly can create the feeling of  desperation. It is commonly found among individuals when they don't have any  money. The best strategy is not to buy anything which takes over 50 percent of your money.

Legal Matters must be resolve on Timely Basis

You should not ignore or postpone any legal matters, instead try to resolve them within given time to avoid future trouble. You should pay attention on this matters after deadline can cost you significant amount of penalties and unnecessary charges.