Do you want to change your mindset about money?

One of the things that creatives fear is the idea of ‘selling out’ … we equate it with a reduction in the quality of our work that we think will be noticable to us, our clients and our peers. There is a truth in this.

The question is what does it take to change the emotions we attach to money and shift it from being a threat to our future to being an enabler. In his aptly named ebook ‘Freedom, Money, Time and the Key to Creative Success‘ Mark McGuiness looks at the tools creatives need to create the space for success. Here at MyCake we’re focussed on helping creative sort out the second of these three. Mostly we focus on the practical challenges associated with keeping the money matters in your business in some sort of order. We focus on three key processes to help creatives shift from:

messy to monitored – that’s the paperwork about your income and expenses, no more shoeboxes of receipts and three cheers for monthly data entry

ignored to analysed – that’s the information that such monitoring of your money generates … it’s a veritable gold mine that can be used to help you make decisions about the future of your business, a seance with a shoebox is useless but an analysis of your Profit & Loss is a great thing, particularly if you can get your accountant or other advisor to sit down with you and work through it

isolated to compared – that’s the shift from saying that your business is not like anyone else’s to a perspective that says sure there are unique things about the way you do things, the products & services you offer but there are also similarities with the sector you are part of and understanding how this translates into your business model helps you become the best in your field both creatively and financially

These are all logical considerations but there’s more to it than logic. There’s the emotional barriers to thinking about let alone discussing money. So lets add the right brain element into the mix. Have a look at Mark’s post today entitled ‘7 Reasons Creative People Dont’ Talk about Money‘ and let us know what you think (on his blog or here).

The 7 reasons Mark cites are as follows:

– We think it’s not important

– We don’t know how to get it

– We don’t know what we’re worth

– We don’t want to sell out

– We don’t want to look greedy

– We don’t know how to manage it

– We wouldn’t know how to spend it

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