Is Your Mindset Holding You Back

If you take the time to focus on your business or financial situation and then analyse the difference between the actual numbers and your desired goal, do you hear yourself making excuses? In truth it could be your mindset holding you back and the cause of such discrepancies.

Undervaluing Yourself
We have all heard of the starving artist giving up a professional career to follow one which drives their passion however creatives have the potential to earn as much or even more than their more traditional business counterparts. But so ingrained is this thought in our culture that many artistic business owners undervalue what they have to offer. Like any other business or service, you have a product of worth and this product is, and should indeed, be valued by others determining the final sale price.

Fear of Rejection
Of course there will always be someone who tries to haggle the price and creatives are often the first ones to crumble at any lowering of figures. Perhaps it is a fear of rejection that leads them to doing so. Remember however, if you continue to lower the price to unreasonable amounts, not taking in account your time or the cost to run the business effectively, you will eventually have no 'business' left to represent.

Unwillingness to Adapt
Regardless of the industry you are in, the way you do business is constantly changing. While some creatives hold tight to habits to avoid the thought of selling out to make money, it may in reality need a small shift in your thinking to reach the success which has otherwise thwarted you to date. It is important to stay abreast of changes within your industry while maintaining the balance of staying true to your original business goals.

Lack of Understanding of Finances
I have heard every excuse under the sun; I am bad at math, I can't get my head around numbers, I am terrible at finances and on and on and on... but I am here to tell you that these comments are no excuse for business failure. If you struggle in a particular area or as is common with accounting or bookkeeping, hate it, then look for alternatives. If you wish to learn more about it then take a course. If you hate it, then outsource it. Lack of knowledge should never be an excuse for failure.

Taking a long hard look at yourself and your business can be confronting but trust me, it is totally worth it to even come close to unblocking any negative mindsets. We all deserve success regardless of our career choices, and even though a particular skill or talent may come easy to you, it does not mean that you should be selling them for a dime a dozen on the street corner. The more you value your own worth, then the more others will too.

Sophie Andrews is the author of The Creative Collection, Director of the Australian Bookkeepers Association and CEO of The Accounts Studio, a bookkeeping and cash flow consulting agency specializing in working with creatives and entrepreneurs.