When starting an entrepreneurship or professional projection project, it is essential to consolidate maturity in personal finances to manage resources effectively, capitalize on potential opportunities and maximize the return on each euro invested.
In his book, Millionaire Fastlane, MJ de Marco, and Félix González, author of Personal Finance in Times of Revolution, accentuate and urge entrepreneurs to not succumb to uncontrolled emotions, anger, wrath, and frustrations and avoid unnecessary waste of energy.
Both authors explain the significance of emotional and positive states of mind to building a booming professional career.
It is worth noting that the first five years of entrepreneurship, economic expansion and work projection are the most delicate and transcendental. In this period, professionals focused on raising their business must focus on managing the best workflow – like dealing with suppliers, distributors, deliverers and employees.
Besides, these first five years involve the fiscal discipline necessary to promote the strategic development of differential value over the competition -and at the same time establishes parameters of effectiveness.
But what does the corporate world have to do with emotions and losing money?
A lot. Because if we do not learn to think like organizations with transparent budgets, annual items, and financial objectives, it will be tough to undertake, recover, and capitalize on profits effectively.
Emotionality is a harmful element in decision-making because it addresses our brain in the opposite direction of success. One secret related to assuming business responsibilities urges to not base decisions under loneliness, impatience, desolation, frustration, or sadness.
Behind the heartbreaking stories of entrepreneurs who lost their capital and could not recover -or professionals who missed great opportunities-, emotional decisions kept them away from success.
Moreover, wrong decisions taken with a wrong mindset are responsible for losing attractive professional potential, property sell, closed operations, stop production, change cities and familiar breakdowns.
Spend what is necessary. Don’t splurge—fundamental business rules.
The Buddhist teachings guide self-knowledge and support for entrepreneurship because of the mental shielding that it provides us to improve the art of sentimental and emotional discernment.
We must explain that emotions are pre-installed responses that our brain has to external stimuli, which are processed and converted into action tools during primary socialization in the face of incentives from our environment.
On the other hand, feeling is a cognitive, intuitive, and subjective response when we process emotions and become aware of their importance to set in motion a series of reactions that affect our concern.
If we learn to train all the emotionality component that evokes the urgent,
instantaneous, fast, and binding, we must urge ourselves -and conscience- to analyze our business’s situation and invest the money in production tools that would enhance our brand.
Although it might sound paradoxical, juxtaposed and contradictory, fix our brain to not lose money due to emotions. Still, we must incorporate determination and discipline to lead our goals with the best attitude.
Money is a powerful energy that vibes in correlation with our emotions, mindset, ideas, feelings and ideas. Sufficient enough arguments to positively re-code our brain if we want to boost each project and business’s power.