In our society it’s not proper to speak about it publicly and transparently. Many find it uncomfortable to talk about. It’s referred to as the most common reason couples fight. As an entrepreneur and business owner it’s often used for a measure of success with how valuable a company is. Forbes, indicates in a study that 66% of people stated their fear of money was more profound then a fear of spiders, snakes, crime, and even death
When launching a business one of the most anxiety provoking areas is the financial fears. Rightfully so! We realistically all need to make money to live and when don’t have enough to support our lifestyle that naturally causes stress. One considers the financial risks of launching a business opposed to staying employed within the financial safety of a steady pay check.
In the context of a music therapy practice we have to consider; how do we set rates that are accessible to our clients, realistic according to economic and industry trends, as well as lucrative for us as the entrepreneur? How do you create a positive cash flow system for your company? What kind of systems should you have in place for tracking financial analytics? What projects or investments should you move forward with to create growth with your company?
Navigating these types of questions can be difficult to consider on your own. Let’s begin the conversation with how we as entrepreneurs can channel this energy for motivation and create a space where we can be comfortable in our financial fears.
Mackenzie Costron, BMT, MTA, RCT
Owner and Founder of Costron Coaching and Find Your Voice Music Therapy
1-800-827-3120 ext. 101