Business: the value of money

Lynne Franks talks about the value of money and our attitudes to it, as a foundation for starting your own business.

So many of us become uncomfortable, even creatively blocked, when talking about money. Financial independence is one of the main reasons given by many entrepreneurs for starting a business. Being in control of how you earn your living and how you manage your own finances is one of the most empowering experiences that one can have, and any human being is capable of it in today's world.

Regardless of the sexist of stereotypical conditioning you may have been brought up with, now is the moment to seize your power and bring finances under your own control.

It's important to remember that financing a business doesn't have to be a mystery. The basic rules are: whatever money's coming in has to cover whatever money is going out, and you've got to have access to enough money to initially fund your enterprise without becoming financially strapped.

Your attitudes

Let's take a look at your personal attitudes towards money. Have you always been considered very extravagant or do you find it easy to stretch your money a long way? Do you have a history of literally losing cash or cheques? Do you enjoy gambling?

Do you find it difficult in your current situation to ask for more money, either from your boss or from your partner? Do you like giving gifts but not receiving them? Do you think it's possible that on some level you don't think you deserve abundance in your life?

I'd like to use myself as an example for a moment, and share with you how some of my attitudes about money have reverberated in my business life. After my marriage of many years to my business partner broke up, I learned a number of financial lessons by trial and error. I'd relied on my ex-husband to arrange all our financial affairs - something too many of us women find easy to do. Once I was on my own, I had to start being responsible for my own finances again, and I made some stupid mistakes.