“I want to start this business because it’s my passion” - said a coaching client of mine during one of our sessions “but truth to be told” he added “I’m starting it because I need to make money. But of course I’m not supposed to say that.” I listened to his reasoning realizing that us, entrepreneurs are conditioned by the society to talk about passion, drive, good causes as reasons to start a business but the subject of money as a motivation stays taboo. Most business owners pretend that money is not important to them, meanwhile their companies often provide their only source of income. When I suggested to my client that it was ok to admit that he was launching the business to make money, he seemed relieved. I then started wondering why money evoked such negative feelings. Usually big fortunes are associated with selfishness and dishonesty. We quiet down our feeling of unhealthy enviousness by reasoning that those who amassed wealth are greedy, think only about themselves and got rich using fraudulent means.
However, looking at money from a positive perspective, it’s safe to assume that we don’t usually like to make money just to amass it for no reason. We plan on spending it on us, our families and on causes we believe in to make the world a better place. We help, share and get educated. By improving our lives, we improve the life of others. Looking at money from this perspective, we realize that often it’s not a focus but our means to achieve higher goals.
Money is one of the measures of how successful our business is. It shows us if people find our services and/or products valuable and if they are willing to pay for them. When we see what sells, we can base our future strategic decisions on it and grow our business.
Another reason why we need to get rid off the stigma behind money is the fact that most entrepreneurs run their businesses full-time so it’s their only way to generate income. Many business owners try to camouflage it until they can by relying on spouses and loans. This solution is usually only temporary. We all need money to live and running businesses that aren’t profitable is not sustainable.
It’s time to let go off the stigma and embrace money as a reason to start a business. It’s OK to strive to have a profitable business and make it a priority. This will lead to creating a healthy and sustainable company in line with our values.
Anna Sabino is a co-active certified business growth and life coach. She is writing a book on being a successful creative entrepreneur. You can find out more at AnnaSabino.com