How Can I Afford To Be In Business?

Many of us yearn for the freedom and flexibility that a successful business could bring ...but there's always a price to be paid first.

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Aug 21, 2017
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Q - I’ve decided to leave my job, which I hate, and have a go at being self-employed doing what I love. I know it’s a big risk but if I don’t go for it I’ll always wonder ‘what if’.

My question is this – I’m usually so bad with money and I’m always broke and in debt. How can I make sure that this doesn’t get in the way of my business doing well?


A - I’m not a business start-up advisor, but the part of your question about always being broke and in debt, is something I can help you to explore. 

I am wondering why you have debt problems, and how you have created that situation for yourself. What deeper purpose might it serve? What pattern might you be repeating  and how does money play a part in that?

(You may not be consciously aware of the answer to these questions but there will be a reason for your situation… and when you understand what that is you'll then be in a better position to answer your own question about how this will affect you in your business venture.)

Write down your responses to the words - 'Money is…................’ 

and keep filling in the blanks until you reveal your own ‘relationship’ with money – which probably comes from your childhood and family beliefs.


On to practical matters – you are very wise to consider upfront the finances for your business.

Having set up a business myself I’ve found out that things have taken much longer to set up and at a much greater cost than I had ever imagined. There have been many twists and turns along the way. Sleepless night and too mch of my time and money wasted.

There may be several people both online and in person offering you their own business 'coaching progamme' or 'mentoring' - and some of these might actually be of help. 

Others only make their money from unsuspecting newbies who believe their empty promises and copycat business advice - which may not even suit your chosen business model. 

Are you able and prepared to be without income or with very little income until your business takes off?

I realise that you hate your job, and I know how horrible that feels, but I urge you to give your new business the best chance of success by getting strong foundations in place.

If you really hate your job (or have already left) then I also urge you to find something else as a stop-gap that will pay your bills (which you will also need to streamline and reduce as much as possible).

Will you need a loan or overdraft to get started, or can you replace what that borrowed money would buy, with your own time and effort? 

It’s a trade off. Time - Effort - Money.

If you do need money to start up, then how much (allowing for unforeseen extras) and where will you get this from?

If you are wanting help from a bank then expect to have to prepare a detailed cash forecast. It’s like having to prove that you don’t actually need the money from them!

Who and where is your target customer and how will you let them know who you are, what you offer of significant help to them, and why they should buy from you? How simple and easy can you make this process for them?

How will you deal with the ongoing cashflow and finances of your business. Do you have access to some free help or might you need to hire a freelance book-keeper?

How will you find any help you might need? Are you aware of the websites that offer ‘outsourcing’ of tasks - those which you either can’t or don’t want to have to do yourself?

There are many questions to ask yourself – and some more that you’re probably not even aware of yet.

It’s as well to be sure of your motives – the ‘why’ you want to go into business. Being clear and motivated about this will encourage you to keep going when things get tough (as they may well do).

It’s not all doom and gloom of course! Many people have made a success out of being in business.

Please do your research, find the help and support you need (and much of that is free)…and then… and only then …go for it!

Remember too - your business will only ever be as good as your own state of mind.

80% of your success will be due to your own 'psychology' and 20% to your skills, systems and strategy.

Self improvement is the vital key to your business success! 

If you want some help with the ‘YOU’ in your business I can (of course) recommend my online course called - 

 ‘How To Sort Out Your Business Brain – without coaching’ 

which you can buy from my website http://maxineharley.com/how-to...

As a gift to you…if you put the promotion code TENOFF in the checkout you’ll get £10 off the course reducing it to only £27…which is a small yet huge investment in your future business success!


Maxine Harley (MSc Psychotherapy) - MIND HEALER & MENTOR

www.maxineharley.com Where you will find FREE resources designed to help and inform you on your journey of self-knowledge and development. You will also find five inexpensive online self-help courses HERE

www.maxineharleymentoring.com  Helping women to understand and manage their emotions, boundaries and behaviours. I also offer a MINDING YOUR BUSINESS service - either one-to-one or in a small online group for 5 women in business. You can find out more HERE

www.the-ripple-effect.co.uk  - a series on 10 individual online self-help workshops - to help you with emotional and psychological problems that hold you back in life

www.qpp.uk.com - a new therapeutic method which revises an unhelpful sub-conscious belief system

Go to the profile of Maxine Harley

Maxine Harley

MIND HEALER & MENTOR - , S.E.L.E.C.T. YOUR LIFE COMPANY LTD.

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