A small business is typically defined as a business with less than 500 employees. In this episode, we start with a grim statistic: only 2/3 of small businesses survive after two years, 1/2 of small businesses survive after five years, and 1/3 of small businesses survive ten years.
As we all know, running a business has its pros, but it can also very challenging. The challenges are often tied to mental stigma and what we are conditioned to believe about money – even as children. Often, being conditioned to believe a certain way or having expectations about money can lead business owners to carry shame about their current business or financial situations, which can lead to poor business or financial choices. This week’s episode is all about learning to have a relationship with money that allows you to create success.
Solutions for Small Businesses & Taxpayers
Joining Kelly this week is Nicole Lewis-Keeber. Nicole is a business therapist and mindset coach who works with entrepreneurs to help them identify and break stigmas that affect their financial choices. In this episode, Kelly and Nicole focus on the struggles of taxpayers and small businesses, where people often go wrong, and how to address those problems. Nicole differentiates between business success and self-success, teaching listeners just how much self-awareness can impact their bottom line.
Listen to Kelly and Nicole discuss Small Business and Money, including:
- Normalizing Uncomfortable Business Situations
- What it Means to Have Money
- How Wealth Impacts Business Choices
- Learning to Have a Healthy Relationship with Money
- Controlling the Narrative and Taking the Steps Towards Change
- How We Allow Taxes/IRS Take Control
- How We Cut Off Money Flow by Hiding from Our Shame
- Steps to Fix a Rough Financial Situation
- Impact of Referrals and Working Relationships
- Understanding Excuses Verses Explanations
- Clearing the Conflict on Money for Future Generations
- Business Success Does Not Always Define Self Success
- How Expectations Lead Us to Feelings of Failure
- The Truth About Value and Self-Compassion
Kelly Phillips Erb created and hosts the Taxgirl podcast, your home for tax news, tax info and tax policy. In each episode, she shares conversations about taxes, money and the choices we make. Kelly is a practicing tax attorney who works with taxpayers like you every day. She helps folks out of tax jams, and hopefully, keep others from getting into them.
Kelly’s Website – Taxgirl
Nicole Lewis-Keeber – Website
Nicole Lewis-Keeber – Medium Mentor Site