Master Your Money by Building Financial Confidence
As a small business owner, gaining financial confidence is one of the most empowering steps you can take. It’s about more than numbers—it’s knowing where your business stands, making decisions with clarity, and feeling comfortable with what’s happening with your resources. Gaining financial confidence can change everything.
Whether you’re just getting started or leveling up, here are five key ways to strengthen your financial foundation:
1 — Align Your Goals with Your Values
When your financial goals reflect your core values, they become more meaningful and motivating. As Dow Janes suggests, “Take some time to think through your three to five core values in life… Then set financial goals that align with those values” (Dow Janes, n.d.). Whether you value security, freedom, creativity, or community, setting values-based goals gives you clarity and direction.
2 — Shift Your Money Mindset
“Changing the way you think about money will change the way you manage your money” (Dow Janes, n.d.). Your beliefs about money shape your financial habits.
By creating a new, empowered money identity, you can let go of limiting stories and begin to act with clarity, confidence, and purpose.
This also helps develop a new style of managing money, that may be different than what you learned in your family of origin, or poor habits that have been a struggle for years. When you take a values-based approach, fear or overwhelm fizzle out, because very few of us would intentionally choose fear to drive our decisions.
3 — Build Financial Literacy
Financial literacy isn’t just for accountants—it’s essential for anyone running a business. You don’t need to be an expert, but understanding key financial concepts—like how to read financial statements, monitor cash flow, and measure profitability—puts you in control of your business (IESE Business School, 2022). Even just knowing what these words are - financial statements, cashflow, profitability - will remove the deer in the headlights mode you may be using when financial topics come up in conversation or meetings. '
CHALLENGE: go search the definitions for these 3 words right now, so you start building that new vocabulary!
4 — Create and Review Your Budget
A budget is your blueprint.
It helps you spend intentionally and avoid that “where did it all go?” feeling.
As Budget Girl says, when you have control over your money, “you get to spend guilt-free on the things you VALUE” (Budget Girl, n.d.).
A good budget is a form of freedom, not restriction.
Anything can be a budget - pen and paper, the notes app in iPhone, google docs, a spreadsheet, a budgeting app, post it notes… we all have different learning styles, so start by using a form of budgeting that you feel welcome in, rather than pressing yourself to jump straight into a spreadsheet. (Of course, we are big fans of spreadsheets, so if that’s your comfort zone, Go For It!).
5 — Celebrate Your Wins
Every milestone—no matter how small—deserves celebration. Whether it’s sticking to your budget or landing a new client, don’t skip the celebration. Acknowledging progress reinforces your confidence and keeps you moving forward. No need for huge fanfare, expensive parties, or costly prizes - do something small, simple, low-cost, and easily accessible, to recognize yourself for your efforts and provide positive reinforcement to keep moving forward. (For me, that would be a Summer Skies beverage at Starbie’s…to each their own!).
In short - you’re not just running a business—you’re building a future.
Finances play a big role in paving the groundwork to support goals and dreams. And financial confidence is one of your greatest tools in laying that foundation in a secure, productive, and fortunate way.
Remember this: You’re capable. You’re learning. And you definitely can master your finances!
you don’t have to do it alone
Master your finances with the help of a CFO — for free!
We can help you refine your strategy, build a financial foundation, and grow with confidence.
