18 Nov Always running your bank account to zero? Here’s why…
I admit, I get a little worked up before speaking gigs…
Clammy palms. Butterflies in the tummy.
Inevitably, I regret saying yes!
Staring at my blank script.
This all starts days, even weeks before every speaking appearance I’ve ever done.
Now, I’ve spoken in public hundreds of times, sometimes to thousands and thousands of people at a time. I’ve even been on live television about 30 times!
And while I’m no Oprah Winfrey, I do know my way around a microphone.
Yet still. I think to myself, “I can just cancel.”
“I should never have signed up for this.”
“I’ll tell them I’m sick.”
“I have nothing new to say and this is going to be so much work.”
And I spend hours this way. I sit down to prepare my remarks and end up ordering things on Amazon or answering emails instead. And I go to sleep that night anxious.
And then, magically, my brain realized that if I don’t get in action NOW to prepare to impress the audience, I’ll run out of time – and make a fool of myself.
Not to mention how upset the person who booked me will be!
I launch into scramble mode.
Typing. Reading out loud. Re-writing. Taking out that story. Adding a different one. Going back to the first story. Making slides. Practice, practice, practice!
Inevitably, just minutes before the figurative curtain call, I’m confident, excited, and locked in on the message at hand.
So, why waste all that time in misery?
Well. You could call it avoidance, but it’s actually Parkinson’s Law.
Parkinson’s Law states that we always take as much of a resource – in this case, my time – as we have on hand.
If you have three weeks to do a project, it takes three weeks to get the job done.
If you had eight weeks to do that same project, it somehow automagically(!) takes the full eight weeks to do the same project that would normally take only three weeks.
I always have weeks, if not months, to prepare for a speaking gig. My brain knows this. It struggles getting to work until it knows time is scarce and my reputation hangs in the balance.
Guess where I see Parkinson’s Law showing up for business owners like yourself?
In your bank account!
Ever notice how easy it is to spend your personal and business bank accounts down to zero (or maybe you say you never go below $1,000 or $5,000, which becomes your ‘zero’)?
That’s Parkinson’s Law!
And it leaves you with zero margin and zero profits.
Can I share exciting news? Now that our team at Hendershott Wealth Management is Profit First Certified, we can help you turn Parkinson’s Law into nearly guaranteed profits and personal wealth.
It’s simple. If you’re claiming your profit first, and moving it somewhere besides your spending bank account, the money available for expenses decreases, and you’re forced to find ways to get the same things done for less money.
This doesn’t mean you have to change your habits — all you need to do is leverage your natural tendencies in a different order.
Instead of using “Sales – Expenses = Profit”, what if you used “Sales – Profit = Expenses”?
It changes the order so you’re rewarded for your hard work instead of spending it all away.
How insanely different does that feel?
So, how does that work on a practical level? Our Profit First approach for business owners is designed to fiscally strengthen your business without putting you in a financial crunch.
Because we’re Profit First Certified, we’re experts at showing you how to do that.
If you’re ready to stop spending your bank accounts down to zero and you’re ready to be more profitable, hit reply to talk with our team.
To your prosperity,
P.S. – Yes, it’s an easy trap to keep spending until you see your accounts get close to zero (or $1,000, $10,000, or whatever other ‘zero’ you’ve mentally set for that account). It doesn’t have to be that way. Shifting to a Profit First strategy can be a significant step toward your financial freedom.