If you are in business you must focus on making a profit. Without profit, without earning descent money, you don’t have a business, you have a hobby.

Putting your focus on profit doesn’t make you a Ferengi. It is a necessary part of the business world. When you have a j-o-b, someone else is responsible for marketing, office space, administration and designing a business plan. You show up, do your job and get paid for your time.

But when you own your own business, even if you have employees, you are ultimately responsible for every part of your business. That’s why you charge a higher hourly rate than you would if you worked for someone else. Very few entrepreneurs bill 40 hours per week.

But in spite of this, many entrepreneurs have an uneasy relationship with money. And it is a relationship, as I was reminded by Iyabo Asani in a teleseminar I attended last night. In this teleseminar she said that money represents an exchange of energy. You provide a services (expend energy) and the customer gives you money in exchange.

However, if you have a problem relationship with money, it spills over into other parts of your business life. If you always feel there is never enough money, then it is often because you lack value in yourself. This can manifest itself in a lack of clients or in attracting clients who can’t or won’t pay what you’re worth.

What Iyabo said made a lot of sense to me. I know in my own life, my relationship with money hasn’t always run smooth. I don’t come from an entrepreneurial background so making money isn’t always seen as a good thing. This makes for some interesting thought processes when you’re in business, let me tell you.

However, when I focus on money, when I focus on cleaning up my relationship with money, things improve.

How? Read More→