“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.”
~ Ayn Rand
Money makes the world go round. Money is a necessary evil. Money is just energy in action.
All different ways people relate to finances.
Regardless of your beliefs on money, one thing is certain, to start a new business you need to know where your finances are at. In a few weeks, we will go into great detail about business finances, but here I want you to consider where your finances are at today.
In your journal, or in the worksheets, reflect on the following questions:
- What are your current financial obligations? Create a list of where your current income is going.
- How are you currently supporting yourself? How flexible is this arrangement?
- How long could you realistically go without making a profit?
- How much money do you have saved currently?
- How much debt do you have currently?
- In an average month, what are your current expenses?
- How much would you need to have to support yourself for 6 months?
Knowing the answers to these questions will help you over the next few weeks as we start to reverse engineer the practice of your dreams, and the structures needed to support it.