Why Financial Therapy Matters for Entrepreneurs by Wendy Wright
I feel so alone when it comes to my finances. It’s hard to invoice clients or even set my rates. The sense of dread that overcomes me when I think about creating a business plan is crippling. I know my relationship with money needs help, but I don’t know where to begin.
If you’ve experienced one (or all!) of these thoughts, you’re not alone! There’s a reason why 50 percent of small businesses fail in the first five years — and a big part of that reason is money, which is where financial therapy comes in. Financial therapy helps you connect the dots between knowing what to do with your money and actually doing it. You learn to not only recognize and understand your financial challenges and money roadblocks but also to confidently move towards a sustainable solution.
Three Ways That Financial Therapy Supports Small Business Success
Financial therapy is particularly important for entrepreneurs, especially as it relates to your thoughts around wealth, worth, and work-life balance.
Wealth
It’s important to define what wealth means to you. Is wealth about having financial security? Taking vacations without guilt? Paying for your kids’ college? Getting out of debt? Perhaps your process begins with simply being more comfortable talking about money. By exploring how wealth is defined and measured for you, you can invite wealth into your life through saving, strategizing, and embracing money tools that move you one step closer to your money goals.
Worth
There are several studies out there that say happiness is defined by a specific yearly income. However, I believe that hardship over happiness isn’t actually about money. For some driven professionals and small business owners, it’s about your worth being wrapped up in what you do — this idea that you are only as good as what you accomplish. Money is one piece of your worth story. Financial therapy uncovers the complexities that shape how you show up in both your personal and professional life.
Work-Life Balance
Thousands of professionals struggle with workaholism. You may be one of them, fighting to maintain a better work-life balance but also working non-stop to grow your business and see your dreams to fruition. It doesn’t have to be this way! In fact, work-life balance is possible. Financial therapy can be part of the magic that makes it happen.
If you relate to any of these experiences, financial therapy may be the missing piece you’ve been seeking to achieve the next level of your small business success.
Master Your Money
If you’re ready to take the first step towards financial clarity and confidence, consider joining my Master Your Money workgroup, set to begin in October 2021. This six-month program involves one 90-minute session per month with expert guidance and one-on-one help. During this workgroup, you’ll learn how to get out of debt, save money, grow your business, and gain financial freedom. Plus, you’ll be working with a supportive group of entrepreneurs like yourself, all using your newfound knowledge and tools to bring about real change.
I hope you’ll join me for the upcoming Master Your Money workgroup!
You can reach me at wendy@financialtherapysolutions.com with questions.