Successful Women Entrepreneurs Unsatisfied With Finances

As women business owners or entrepreneurs, we have likely done quite a bit of soul searching and goal-setting to get to where we are today. Along the way, we have decided what we’re good at and what we love doing. We’ve created a business plan outlining our goals and we’ve taken every possible measure to achieve these successes.

So why do so many successful women business owners feel unsatisfied with their financial situations? Many of the women entrepreneurs I work with on a regular basis are bringing in just enough to get by, or enough to pay the bills and are wondering,how do I start to build actual wealth?

In many cases, cash flow is the obstacle and this means it’s time for change. When most people think about making changes, they think they have to sacrifice something, or forego certain pleasures to make gains. To me, this is simply a matter of perspective. If I choose not to spend my usual $50 a week on lunches, I don’t think of myself as deprived. I look at it as making room for my new financial intentions.

Another thing I notice with several of my clients is that women business owners have trouble charging what they’re worth. If you undercharge, you are promoting financial scarcity in your life and inhibiting your own growth. I suggest raising your rates once you’ve proven yourself. Or, try to increase your rates for any new client you bring on.

I also encourage my clients to consider implementing a commission structure vs. a straight salary business model to help increase cash flow. Many people are afraid to do this because they think they will spend too much money. In actuality, you will likely bring more money to your business if everyone is working for the same goal. Or, offer a lower base salary, plus commission to help balance out the numbers. Find an employee who has been with you for awhile and ask them what would motivate them. Often times, our greatest gems are in the minds and ideas of our very own employees.

We all want more out of life and we all want more than our reality currently offers. By following the financial strategies above, it is my hope that you will be put on a path that leads to financial abundance and overall life happiness.

Julie Murphy Casserly, CLU, ChFC, CFP is a 15-year veteran of the financial services industry and founder of JMC Wealth Management in Chicago. Julie’s mission is to helpfinancially heal America and she helps people understand how their emotional attitudes and behaviors affect how they earn, spend and save. To purchase her award winning the book,The Emotion Behind Money, also now available in an e-book format, please visit http://www.juliemurphycasserly.com.