When I started on my entrepreneurial journey, I had never (ever!) heard about ” Money Mindset ” or “working on your relationship with money”.
Truth is, as a “good student” and masters degree graduate, I always assumed “money” would never be an issue and I in fact did not want to care for it… all I wanted is for my career to have meaning and a positive impact in the world.
When that did NOT happen in my job and made me burn out, I was the first surprised to decide to break free from the corporate world (I had studied so hard to get into!) and start my own business.
My own IMPACT-DRIVEN, meaningful and fulfilling business.
Right from the start, money became a stress point (“Am I going to make enough of a living?!”)… At the same time, I have had the big-salary-with-no-meaning and so I knew I’d be willing to sacrifice financial “certainty” for living a life true to my values.
The symptoms of Money Blocks
Although “money” is not the primary goal of my business (unlike most for-profit startups), I did have to “deal with” generating income : meaning setting fair prices, being confident enough to sell my solution, and negotiate with potential clients and partners.
To my surprise, those actions I had no problem with in the corporate world (I was a Country Director responsible for the local commercial success of my company and so, sales and negotiating prices where not foreign to me), they became extremely hard once it was for my own business !
I was changing my prices every morning, feeling a huge imposter syndrome at every sale (even hang up the phone on my first prospect… !) and overall just wished the money question would disappear from the equation and I could just focus on my impact itself like an ostrich in the sand.
And I know for a fact (I have mentored dozens of impact-driven entrepreneur on the very same issue!), this is a fairly common challenge in the entrepreneurial space.
Especially for women. Especially for purpose-driven women.
You might remember the article I co-wrote with Marjorie Llombard, on why and how Women need to give themselves the permission to combine Sustainable Ethics & Financial Success ;)
The importance of Money Mindset
And this is where “money mindset” comes is : unless you make peace with the fact of earning money through your impact-driven business, all the fears, hesitations, impostor syndrome and self-limiting beliefs are going to slow down (if not block) your business growth.
Blocking your income, your ability to make a living, and as a result, your long term impact.
Once I realized that and worked on my “money blocks” with the mentor that was coaching me at that time, my business DOUBLED in only a few weeks: twice more clients (which means twice more income… and twice more impact!).
It felt like removing stones from the tap in order for the water to flow, without pushing hard or working more.
I did not change my business model, my clients profile, or even my marketing strategy. And yet, the results of my actions and efforts totally changed. My business & impact reached a whole new level thanks to working on my Money Mindset.
Removing your Money Blocks
Everyone has money blocks (small and big). We all grew up in a society that claims it’s hard to make a living doing what you love, and “brainwashes” us (often with the best intentions) from early on to go for the “safety” of a corporate job and not try to make money on our own.
And so, no matter what education you received from your parents or the beliefs around money you inherited from them, we are living in a world that separated “doing good” (i.e. having a positive impact) from doing “well” (earning money). That’s why corporations donating money to charities is so embedded in our culture and very few people seem to notice how unsustainable that is (donating X% of the money creating by destroying the planet to give ourselves a better conscience is still going to destroy the planet in the not-so-long run).
Anywho – I am going on a tangent here ;)
>> When you ambition to do good and do well at the same time (i.e. running your own impact-driven business!), you are going against some of societies core beliefs around money… you need to free yourself from. On top of that, you might have your own beliefs, those your families gave you, etc.
Identifying those believes + removing them is a powerful strategy for any entrepreneur looking at creating value and long term impact.
A money block can be somethings like :
- earning money is bad,
- rich people are evil,
- if I earn too much money, my friends and family will hate me,
- if I earn too much money, I will lose love,
- I am not worthy of receiving money,
- earning money is hard,
Whether those limiting beliefs are conscious or unconscious, they are causing self-sabotaging behaviors that prevent entrepreneurs from generating substantial income in their businesses.
The impact of removing Money Blocks
Once I took the habit to work on my Money Mindset as an entrepreneur (it’s not a one-time thing, as every new progress or level is an occasion to remove a rock or two ;) ), my business flourished and I even started earning an even bigger salary then in my past corporate life!
It was unexpected and not my initial intention (I started my entrepreneurial journey thinking I would “have” to earn less, and was OK with that… until I realize I did not “have” to sacrifice anything!). But as I became comfortable with money, I also became more ambitious for the financial stake of my business & life : no more “surviving”, and more “thriving” !
I sincerely believe that the world would be such a better place if all the social enterprise & impact-driven businesses out there were really successful. Not just surviving (or trying too), because to be honest, this is not sustainable. Really successful, really thriving, generating BIG income to reinvest in the impact created and grow to their full potential.
Otherwise, regular profit driven businesses will continue dominate the world economy, and impact-driven solutions will seem unsustainable and unreasonable…
Which is why I believe EVERY socially-conscious entrepreneur on the planet should release their money blocks !
In the next blog article, I will share with you how I went beyond removing Money Blocks thanks to the science of Money Archetypes, and the effect it had on my business growth.
But first, share in the comments below ! What negative beliefs do you have around Money ? What is your #1 money block ?
My intention is that, as we open up on this somewhat taboo topic, we can all empower eachother to set new collective, positive mindsets.
To thank you for contributing to the conversation, I’ll reply to the money block you share with an empowering mindset you can replace your block by.
I am curious to see what blocks are the most frequent !
Solène is the Chief Empowerment Officer of Creators for Good.
She developed a methodology that allows Global Citizen to start and grow their own impactful businesses from anywhere in the world – and with no need for investors or government support.