Handling Debt with Confidence and Clarity

Featured Article By Kendall Summerhawk
There’s no question about it: if you’re running a business (or thinking of starting your entrepreneurial venture) then debt is likely something that’s on your mind.


Some financial experts (like Suzie Orman for example) will advise that you save a year or more of expenses before starting your business. Now, I’m no financial advisor but if I — and the hundreds of women I’ve coached to be successful in business — followed that strategy, we wouldn’t HAVE any businesses!


Businesses are traditionally started and grown on loans, and your entrepreneurial venture is no exception. And this can be a positive reason to create debt.


Whether you’ve borrowed money from a family member or from your savings accounts or you’ve used your credit cards to fund the startup and growth phases of your business, a growing business needs working capital. When I first started my business I relied on money from the recent sale of my then-house to cover my bills while I learned how to market my services.


While there are many reasons that it can make sense to create debt for your business, for most women, it can stir up feelings of guilt or failure. Beneath the surface that guilt is tied to self-worth and this can chip away at your confidence in making choices about where and when to invest in the growth of your business.


It’s important to remember that debt, like money, is just another mirror of how much you believe in YOU. The main point is not whether or not you have debt, but how you handle it. Here are some of my top tips for handling debt with confidence and clarity:



Tip #1 – Begin By Forgiving Yourself
In almost every case, debt was created for reasons that felt right and necessary to you at the time. Rather than blaming yourself, be honest about what your reasons were, the underlying emotions that were influencing those reasons and what you were trying to achieve with your purchases. And then let it go.


Next, rather than wasting time agonizing over the past, put your focus on taking action and begin reducing the debt. Every time we make choices from this empowered place, we strengthen our heart and spirit to continue taking positive, proactive steps forward.


Tip #2 – Have a Plan for Repayment
Debt has a way of creeping up behind the scenes until one day it suddenly feels like it’s looming over us. If you want to be debt-free with confidence, you need to be willing to look at it with honest eyes.


The best way is to make a repayment plan. Not only will this help you to feel more in control, it puts you in the driver’s seat of your finances overall. From here you can make informed, conscious choices about money and investing in your business because you’re able to see the entire picture.


If you decide to take on new debt, start with a plan for repayment right from the beginning. For example, if you’re borrowing to invest in a training course or in mentoring, I recommend “tithing” the new income you’ll be making and applying a percentage of your new earnings towards paying back the amount borrowed.


Viewed in this way, creating debt is an investment in YOU and in your business. Using this strategy you’ll be able to quickly pay off the amount borrowed, making it a wise and valuable investment that will pay you back in increased income for years to come.


Tip #3 – Don’t Shy Away From Creating Appropriate Debt
This is the time to trust yourself and be willing to keep moving toward your dreams.


Freezing with fear about creating debt is a mindset that will start to seep into other areas of your life and business. Being stuck is not a place from which much gets accomplished, including actions that will bring in money.


You’ll feel more confident in your financial decisions if you’re willing to use your intuition. This is a Divine Feminine gift we all have (women and men) and you simply need to begin tuning in and trusting it to support you in how you grow your business.


Remember that you must invest in yourself and your business if you want to grow!
If you resist, fear, ignore, or go into panic over debt, you’ll find a similar pattern appearing elsewhere in your life. Instead, focus on investing in smart ways to help grow your business. From this new and empowered place with money you’ll quickly find yourself generating the kind of resources and income you’ve dreamed of!


About the Author:

"Would you like to learn more simple ways entrepreneurs can brand, package and price their services to quickly move away from 'dollars-for-hours work' and create more money, time, and freedom in their businesses? Check out my web site, http://www.KendallSummerHawk.com, for fr.ee articles, fr.ee resources and to sign up for my fr.ee audio mini-seminar "7 Simple Steps to Create Your Multiple Streams of In-come "Money and Soul" Business."

Award-winning small business expert Kendall SummerHawk is the Million Dollar Marketing Coach.

Join Kendall and a room filled with awesome, heart-centered entrepreneurs for..

Secret Energy of Money Workshop! Tucson AZ Oct 25-27

3 Keys to Feeling More ALIVE...So You Stop Robbing Yourself of Joy

You know 'that' incredible feeling – you feel creative; ideas flow naturally; your body feels expansive and open; you have hope, faith, and courage and everything you do is a success; you feel love all around; you desire to dance or sing for no particular reason; your writing flows; you and your clients are in perfect harmony, coming up with solutions with ease; you feel...alive.

Pretty awesome feeling, right? Unfortunately, many women entrepreneurs unknowingly rob themselves of feeling alive because they allow other things to get in their way—like getting stuck in being overly ambitious or putting too much pressure on themselves to be multiple steps ahead of where they are currently. This makes sense considering women in business today are highly ambitious, visionary spirits dedicated and focused to making a difference through their work, while having their ultimate ideal life. (family, health, travel, financial security, etc.)

This is particularly true for you as a 'Creative'—coach, healer, strategist, designer, trainer, nutritionist, and so on. You want to know everything (because you know anything is possible); you have tons of ideas (what Creative doesn't); and you desire to be at a certain place in your life, in your business or with your finances...and now. And when these things don't happen fast enough or 'good enough,' you end up generating low level emotions that make you feel crummy and that rob you of truly enjoying what you know you're here to do—in your life and in your work.

Here's the problem when it comes to your business. When these low level emotions happen...

• you begin to attract clients who are less than ideal to work with
• you feel stuck (really stuck) on how to get to 'that next level' in your business
• clients don't sign up with you or purchase your products...and you don't know why
• you feel you SHOULD be successfully marketing like everyone else, but you just don't feel ready because they are others things you have to do first
• you undercharge for your services and over-deliver
• you stumble on your words when expressing what you do and how much you charge
• you find that the money that you do make...is quickly spent
• and you feel that things just aren't where they should be

Talk about sucking the joy and fun out of what you know you LOVE to do in your business. You know you've come to this life to make a huge positive difference through your work, but making things happen is getting tiring, frustrating, and sometimes down-right depressing.

So, here are 3 keys to shine a little light on how to start feeling more alive again.... so, you can put the flow back in your business (and life).

(Feel free to add your own keys in the comments section below.)

1. Be Open. Remember, you don't have to know everything or have accomplished everything that you set out to do, you just have to be open to letting in the idea of what's possible and then take ONE step at a time. Be open to getting help; be open to new ideas; be open to being in a place of discomfort momentarily as you move to the next level of your business.

2. Have Faith. Be willing to take the steps that feel scary and uncomfortable. You need to hold faith that each step that you take toward your goal of living life purposefully, doing the work that you want to do for others and having the life that you desire for yourself is possible and happening every moment of every day. You have to believe that each step is the right one.

3. Use Your Imagination to Begin Creating the Reality You Desire. Imagine for a moment that each moment and each experience is meant for you to advance to a higher version of yourself (where you are more joyful, creative, and inspired). Imagine how each experience and each person who comes into your life helps you learn more fully what you're here to learn and what you're here to do and to help you get closer to total alignment with all that you desire to create.

Imagine for a moment—where you are right now—sitting in your chair reading this, what that ultimate life and ultimate business looks like for you. What are you doing? Who are you working with? What does it feel like to have the freedom to be doing this work and seeing the results from your work?

What is it that truly makes you feel 'alive'?

Copyright 2011 All Rights Reserved

If you would like to use this article on your blog or website, feel free as long as you include the following author information:

Known for her creativity, gentle disposition, enthusiasm, and passion, Lisa Hromada is a leading Personal Branding Strategist and Authentic Marketing Coach who specializes in empowering women entrepreneurs to find the clarity and focus they need to create a thriving brand while still having the time and energy to enjoy their other priorities. Find Lisa's FREE gifts and more at: http://www.lisahromada.com/bizsuccess

Get Unstuck (NOW) and Move Your Business Forward...No Matter What

Many entrepreneurs make the choice each day―whether they're aware of it or not―to stay at the same dissatisfying place. This is especially true for women entrepreneurs who deeply desire to make a difference through their work, yet they fear stepping forward in one way or another to take the action needed to start, grow, or revive their business.

They stay stuck by believing that they're not capable of having what they want; or they believe that 'time' holds them back because they have to do other things first before moving forward and making money; or they feel caught in a catch-22 style paradox―their current situation is needing to make money in their business and to do this, they need to invest money in mentorship, knowledge, and training. So, they have to invest money that they're not yet making in order to make money. Sound familiar?

And while it's understandable that these feelings of fear and unease come up―they do for EVERY heart-centered woman coach and consultant taking steps toward the next highest version of herself―if you really want to start your business, grow your business, or stay in business (!) and help the people you know you're in this life to help, you have to find a way to make what you want happen (and you can...and will).

Would you like to know the ONE simple thing that I did when I was in a place of feeling that I couldn't move my business forward for financial and time reasons? 

Here it is: I took courageous action. 

Well, actually it was more like: 1) I listened to that strong yearning inside of me for 'something more;' 2) I stayed in full faith that whatever decision I made was going to be the right one; 3) I took a gulp; and 4) I took courageous action by making a generous investment in myself and the growth of my business. (by the way, it was the right decision ;)

You have to be willing to put it out to the Universe that you're ready for more and then take the actions to show that you're ready for more. 

Begin by exploring what is really holding you back and you'll often find that when it comes right down to it, it's not the money, time, or knowledge; it's simply fear of the unknown. When you desire to move forward, thoughts come up of, “what if I invest in this program or product and I fail to get results; what if something comes up personally and I can't follow through; what if I'm not able to accomplish what others have accomplished (what if I am the exception); my situation is different and it's easier for others and harder for me.” Do any of these sound familiar?

Here's one question that I invite you to answer right now with me today... “Is my desire for more in my life and business greater than my fear to take action?”

When you realize that your passion and faith is greater than your fear, you're ready to move forward and create the life you envision doing the work you're here to do. What's more empowering than being the constant creator of your life?


Copyright 2011 All Rights Reserved

If you would like to use this article on your blog or website, feel free as long as you include the following author information:

Known for her creativity, gentle disposition, enthusiasm, and passion, Lisa Hromada is a leading Personal Branding Strategist and Authentic Marketing Coach who specializes in empowering women entrepreneurs to find the clarity and focus they need to create a thriving brand while still having the time and energy to enjoy their other priorities. Find Lisa's FREE gifts and more at: http://www.lisahromada.com/bizsuccess