This is how much money you are allowed to make…

When we set out as business coaches, we assumed that every entrepreneur we met would want to make as much as money as possible as fast as they could. What we learned is that many people have a deeply complicated relationship with money. 

When we first start working with a business owner we will ask, ‘How much money do you want to make?’ What follows is often a blush, an uncomfortable pause, and then something like, ‘Well, I could get by on $xx.’ ‘Okay,’ we say, ‘but how much do you WANT to make?’ More discomfort. ‘Well, if I could make $xx, that would be enough.’ 

Still no answer to the question.

So what gives? There is a lot of fear, guilt, and shame around money. Most of it comes from our families of origin and how they felt about money. Additionally, as we are working with more and more young business owners, we are seeing a real shift in attitudes about sharing with employees. Our young clients are deeply concerned with social justice. They want to make sure their employees are well treated, well paid, and able to live good lives. Our young clients are also deeply concerned with social justice.

We’re here to remind you that the purpose of a business is to make money. Making money doesn’t have to be exploitative. Make lots of money so you can pay your team more; make lots of money so you can give it to charity; or...you can just want to make money for yourself. There is nothing wrong with creating wealth and security for yourself and your future. In fact, we heartily encourage it! There is so much risk and hassle involved in entrepreneurship. The trade-off is that 1) you don’t have to deal with people you can’t stand, and 2) you have unlimited income potential. You get paid the money as a reward for the risk and the hassle. That’s the deal.

Ask yourself what your hangups around money are. Get comfortable with knowing how much you WANT to earn and settle into the notion that you are allowed to - no guilt, no shame. Remember that you are creating value every day for your clients and your employees - it’s fair to be paid for it.