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I hope the template I shared in my last newsletter and Anupam Choudhury’s post help you on your financial journey as an independent self-employed individual, whatever your field of work.
Once you work out the figures in the template, you may feel that there is a huge gap between where you are and where you want to be. On my own personal journey, it’s been my experience that success is a mental game and that internal changes result in external changes. In a way, success is victory over one’s self. So here are a few thoughts on the way to approach your business and your work from inside you.
Your definition of prosperity does not have to match anyone else’s. That applies to everything you may include in your definition, from material possessions to the number of hours you choose to work to the profile of your clients. Your definition has to fire you up and must not be a lens through which you think you are being judged.
Be aware of and watch the self-talk in your head. Is your mind generating ideas or is it telling you all the ways in which, in its opinion, you aren’t good enough.
Don’t take anything for granted, whether it’s the well-being of your family, the meal you had for lunch or the work you have at present. Approach being grateful like it’s medicine, a daily vitamin supplement. Do it every day, consciously. I have found that daily gratitude reduces negative self-talk.
When thinking of taking a risk, be prepared to lose. Think of the best thing that can happen and the worst thing that can happen and see if you can live with both. If you lose, pat yourself on the back for trying.
Take chances or try something new when you are on a high from something that has gone well recently. Your confidence from a previous victory affects the energy you reflect. You may be better prepared to lose (see point 4).
Understand what an expense is and what an investment is. Paid websites and visiting cards are expenses. They cut into your earnings, especially if they are not bringing in leads. Keep your expenses low, because zero or fewer expenses reduce anxiety. Training and tools that help you improve the quality of your work are investments. They help you earn more. Go in for investments whenever you can.
The interest on credit card debt drains you financially, but worse, it contributes to negative self-talk. If you have credit card debt, immediately stop using the card for future transactions, till the debt is fully cleared. Buy with a credit card only if you are sure of how you can pay the debt in full.
Train to learn, not to get your foot in the door or to get anyone to notice you. Certificates and certification only get you so far. Ultimately, there is only one question – are you creating or adding value for your client? If, at present, you can't afford to spend on training, work with what’s available for free (or cheap, e.g. ebooks over paperbacks or hardcovers).
The world can be paradoxical. We are taught or conditioned to do what everyone else is doing and to do what we are told. We are trained for an employee mindset, but we have chosen not to be employees and we have to unlearn things. The world praises individuality … once you are ‘successful’ by the world’s standards. So you need to start thinking about what your own standards are.
You don’t need ‘famous’ or ‘well known’ clients to make everyone else feel better about your success. You need compatible clients – whose work interests you, whose problems you can solve, who treat you well and who pay you your worth. Choose your clients. Screen your clients for compatibility because incompatible clients create stress.
You will deliver your best work and get repeat business when working with clients whose values match yours. And since birds of a feather tend to flock together, it is possible that those happy clients will refer you to someone else whose values match yours. Referral business cuts the ‘auditioning’ anxiety.
While you may have a vision of the kind of work you want to do, do you also have a vision of the kind of life you want to live? How many hours a day do you want to work? What kind of people do you want to work with? What do you want to do with your time off? Wouldn’t it be great to feel the same way on a weekday morning as you feel on a weekend morning? It’s not impossible.
Write to me with any thoughts or questions. You can also follow me on Twitter.
Good luck!
Michelle