BUILDING YOUR FINANCIAL INDEPENDENCE AND ECONOMIC SECURITY
Building your financial independence & economic security through business…
- What financial steps do I need to take?
- What spreadsheets or reports should I build and be looking at to get my business finances in order?
- What information can I trust when it comes to making informed financial decisions related to my business?
Each micro business has it’s own unique flavour and path to success!
However, as you navigate the road from establishment through growth and beyond, there will be some common finance challenges all businesses need to navigate – such as managing cash flow, securing right sized affordable working capital or business loans, mitigating risk or financial exposure and best leveraging profit for long term economic security and financial wellbeing.
Global Sisters is working to provide a one-stop-digital platform filled with curated business tools, checklists, informative resources, step-by-step tutorials matched to stages of business – all to empower you to author your own financial roadmap toward a secured independant financial future.
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Where are you at financially?
The specific ways we each think about our financial capability, financial security and economic wellbeing will be grounded in our expectations, context, past experiences as well as our current reality.
At times this can become overwhelming, confusing or even discouraging.
But the great news… your finanical position is not static or set. With some dedicated thought, intention and consistent attention to your numbers, you can positively shape your financial future.
Intentional is defined simply as being “done on purpose.” In other words, when you do something intentionally you mean to do it.
On the other hand, behaving in a reactive, impulsive way is the opposite of intention, and is actually choosing to not engage with or take responsibility, for example as it applies to how we engage with money (whether it is our personal or business finances).
Horizons, Values and Goals
Financial Horizons
When you think about your finances, how far out can you stretch that horizon – day to day? weekly? monthly? quarterly? annually? or multi year financial horizon?
When we are in the churn of business, especially when we are just getting started in business and bootstrapping our enterprise, it is hard to see the financial horizon. So what can you do?
Values
Achieving financial independence has alot less to do with complex investment strategies and taking big risks, and far more to do with aligning your money behaviours and decisions with your values. When you know what your core values, how they should translate into your relationship with your finances and money behaviours, then take the time to put your goals down on paper, you can really be intentional.
Understanding who you are, what you stand for, what your personal and business brand must convey and what your non-negotiables are, provides you with a clear navigation tool to make financial decisions and author your financial journey. Identifying your key 3 – 5 values will also uncover your ‘Why?’ at the core of your motivation to establish and invest into your business.
Goals
Without a goal, there is no end result. There is no aim. Most importantly, you won’t know if you are doing or prioritising the right things to get you there.
Think about what you want to improve or be in a position to do in your life. Now think about how you hope your business will assist you to achieve those goals.
Now take some time to set goals for different financial horizons: Five-year Goal(s), Yearly Goal(s), Monthly Goal(s), Weekly Goal(s), Daily Goal(s).
Remember, what you determine your five or one-year goal to be will inform your behaviours around money and your financials on a daily, weekly, and monthly basis.
Knowing your goals and your values are what really sets apart your financial journey from someone else’s, helps to extend your financial horizon, and gives you the clarity to build momentum towards the end destination of economic security and financial wellbeing.
Remember – you get to choose, change and author your financial future!
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Disclaimer: The tools, templates, checklists and resources provided here are a guide only and should neither replace competent advice, nor be taken, or relied upon as professional advice. Global Sisters encourages you to seek professional financial advice before making any decisions that could affect your business.
Got questions? Email us at members@globalsisters.org