Tweet

How to Deal with Financial Pressure in Your Business

Written by: Dr. John Oda

Article Overview: Most business owners go through some type of financial pressure. After working with several thousand clients, I’ve found out that most can’t handle money stresses during payroll time, paying their vendors and covering overhead costs when they are due.

How to Deal with Financial Pressure in Your Business

Most business owners go through some type of financial pressure. After working with several thousand clients, I’ve found out that most can’t handle money stresses during payroll time, paying their vendors and covering overhead costs when they are due.

How does your company deal with financial pressure? It can be a challenge and you have to use creative ways to deal with it.

Here are some questions and quick tips, along with personal development techniques that can help:

• How is your mindset? Be careful about what you focus on. If you mostly think about your bills, you will create more bills in your life. For example, I worked with a small business where the members focused on just paying the bills, not finding ways to make more revenue. When I showed them how to change their focus on ways to increase their business, the morale around the workplace changed and their sales increased.

• What questions are you asking yourself? The questions you ask yourself will determine the success or failure of your business. For example, I worked with a group in a company where they were asked to only change the questions they asked themselves, from “why” to “how and what” questions. How can we increase your sales and what can you do to add ten times the value to your customers? Remember to ask better questions and you will get better results with your business.

• What is your belief system? A belief is a feeling of certainty. Having certainty can increase sales, like when I’ve helped to coach others to increase their sales by over 35%, just by changing their belief systems.

In conclusion, you can handle financial pressure by changing your mindset. It starts by asking yourself better questions, then changing your belief systems that can have a direct effect of increasing your profits.

Schedule a FREE Coaching Session

Related Articles
  Remedies for High Blood Pressure
  The Invisible Close Sales Nugget: Pressure vs. Tension: Are You Selling Them or Are They Selling Themselves
  Closing Techniques Are Bogus
  Why this Common Sales Mistake is Costing You More Sales than You Realize
  High Blood Pressure (Hypertension) and its Treatment

Article Tags: business owners, overhead costs, several thousand, stresses



Related Forum Posts
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Future Financial Corporation - I've never heard of Future Financial Corporation is this a new company?
Who inspired you to start? - When I was a teenager I read "The Art of the Deal" by Donald Trump while on a road trip to New York City. It helped inspire me to want to start my own business and is also one of the reasons why I have created so many famous entrepreneur profiles. I believe that by modeling the success of other entrepreneurs you too can become successful. Who was it that inspired you to start your business?
Exclusive: Interview with Results - Hi Forum Members, I'm helping start up a Business Coaching and Consulting company here in Toronto, Ontario, Canada (a Subsidiary of RSC Business in Los Angeles). As a Research and Development Intern I am required to practice my listening and interview skills by surveying Small and Medium Businesses on thier Business. This Survey is designed by RSC Business to also assist the Business being interviewed more insight into their own business. I am looking to interview about 30 businesses across North America over the span of 3 months. At the end of these interviews I will be publishing a report of the results and they will be made available for free to the Interviewees. The Report data will include responses from a minimum of 100 interviews. I would like to extend this opportunity to members of the Forum. If you would like to have this short 20-30 minute interview conducted on your Business and you reside in North America please send me an email or PM. Please contact me at andy[at]jvprosperity[dot]com to arrange our interview and to get free access to the results when they are published.
Trump and Stewart - I really enjoyed Trump: The Art of the Deal and The Martha Rules. I think the best advice you can get is from people who have made it and not just consultants who haven't been there. Evan's site is great because of all the famous entrepreneurs and their advice directly from them. Donald Trump and Martha Stewart are 2 great examples of successful entrepreneurs and the books are written in their own words which I find extremely valuable and motivational.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Fighting the Saw-Tooth Affect

What Makes an Extraordinary Business Consultant?

3 Health Insurance Misconceptions

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.