Safety First: Building a Business Without Sacrificing Financial Security
Don't rush into building your business without securing your financial foundation first.
Why not? I've seen countless clients dive headfirst into entrepreneurship without a solid financial base, and it almost always leads to anxiety, stress, and potential failure. Their dreams of business success quickly turn into nightmares of unpaid bills and mounting debt. Without a safety net, every setback becomes a potential catastrophe, and the pressure to make money fast leads to poor decision-making and missed opportunities.
Here's what else I've seen happen when clients make this mistake:
They become frantic and impulsive, making rash business decisions
Their anxiety about money prevents them from showing up fully in their business
They dismiss potentially good opportunities because they don't provide instant results
Their personal relationships suffer as financial stress takes its toll
I've coached numerous entrepreneurs who made this very mistake when starting their businesses.
One client, let's call her Sarah, quit her job to pursue her passion for health coaching. She believed that if she just worked hard enough, the money would come. But reality hit hard. Sarah found herself constantly worried about making ends meet, unable to focus on building her business because she was too preoccupied with immediate cash flow. She started taking on clients she wasn't excited about just for the money and felt stuck in a cycle of scarcity.
Which is why I want to share this with you.
Instead, focus on creating financial safety, security, and stability before going all-in on your business.
When I work with clients now, I advise them to keep their day jobs while building their businesses on the side. We clearly define what financial security means to them and work towards that goal. This approach gives them the peace of mind to make better business decisions, take calculated risks, and grow their businesses sustainably.
Here's what it looks like when my clients finally stop trying to wing it and actually get their money situation sorted before going all-in on their business:
They're not constantly checking their bank account or freaking out about paying bills
They can actually say "no" to those misaligned clients without breaking into a cold sweat
Suddenly, they've got all the creative ideas because they're not up all night worrying about money
They start investing in their business instead of always going for the bargain basement option
It matters so much to me that you learn from my clients' mistakes because I want you to succeed in your business without sacrificing your well-being. I've seen how building a business is challenging enough without the added pressure of financial instability. By securing your financial foundation first, you're not just setting yourself up for business success – you're paving the way for personal fulfillment and peace of mind. Remember, it's not about playing it completely safe; it's about creating a solid launching pad for your entrepreneurial journey. As a coach, nothing brings me more joy than seeing my clients thrive both personally and professionally, and that starts with a strong financial foundation.