Take Control of Your Finances

Take Control of Your Finances

Achieving many projects require that you take control of your finances. Whether you want to advance a cause or sell finished goods, finances will probably play a significant role in how well things unfold.

Trying to do something without the adequate funds to do it is frustrating. It slows things down and creates stress and waiting. Get the needed funds in place before commencement. Then when you begin you can consistently move forward without delay.

A lot of time is spent worrying about money, and rightfully so - you have to have it. Things move so much smoother when that detail is taken care of.

Prepare a budget prior to your program or project. Know what you need and when you will need it. Build this into any negotiations or requests for funding. Get a solid commitment before beginning.

Five Days of Coaching as You Take Control of Your Finances

DAY ONE

Today, think about money and your organization's relationship to it. Do you have adequate funding to move your priorities forward? If funding is not a problem, have you allocated sums to target the right outcomes? Trying to achieve priorities without the necessary financial undergirding just produces stress and delay. Create a plan and get this sorted out today.

The Coach asks:

• Make an inventory of those projects that require funding. How well funded is each one? What does this information tell you? 
• If funding is low, how stressful is this? Who's stressing? What happens if full funding isn't forthcoming? 
• If funding is not a problem, now confident are you that the right outcomes are being achieved? 
• What adjustments may need to be made? Who makes that decision? What needs to happen next?  

DAY TWO

How much time do you spend worrying about money? What beliefs do you have about money that may actually be holding you back? What situations have you gotten yourself into that are creating stress? Resolve today to make the changes in thinking and action that are needed.

The Coach asks:

• Individuals believe different things about money. What are your core beliefs? How is this influencing how you look at this project?
• What deep held views are being put forward by others? What influence is this having on the project? 
• What "roadblocks" have you run into in the past that seem to be playing out all over again? What needs to happen? 
• If things are moving along smoothly, what is contributing to that? What can be taken from this project to be carried forward to others? How can this be a template.

DAY THREE

Do you have a budget for your project, program or cause? If not, create one. Get help from someone if you need it but get the most realistic numbers on paper that you can come up with. If you don't know where you are going, where you are starting from and what it will take to get there, you've got a real clarity problem that will keep creating stress. Plan now.

The Coach asks:

• If this project needs funding, but lacks a budget, make a start on creating one. What are the costs? How much total is needed? When? What phases require what amounts? How will that happen? 
• Who could help you, your board, or your team with creating a budget? 
• How will you feel having accurate information in front of you? How will that affect your clarity of focus? Your confidence levels? Your execution?
• What can you do to further reduce stress and increase a peace about moving forward?  

DAY FOUR

Do you have a project that will require outside funding? Don't wait until the last minute to seek those funds. Start preparing now. Start early in order to reduce the level of stress and avoid having to push back deadlines because of funding delays.

The Coach asks:

• What outside funding will be required for your project? 
• What is your proposal (pitch, ask) of those able to provide funding? 
• If you do not have a proposal, how will they have confidence in what you are doing and how you plan to get there? Create the proposal complete with as much detail is needed to inform decision making. 
• How time sensitive is your project? How will that affect your need for funding? What do you need to address? 

DAY FIVE

If you take control of your finances and have your financial "ducks in a row" for an upcoming project, take the time today to be thankful for that. Many projects are not adequately funded and result in increased levels of stress for those who wish to move them forward.

The Coach asks:

• Be grateful for full funding. Honor those who donate or loan funds by bringing in the best project delivery possible. 
• What does it mean to you to be a good steward? 
• How can you leverage a well-done project when you seek future funding for other projects? 
• How's the stress level when it comes to financing? 

Spiritual Reflection for Christian Leaders

As a Christian Executive Leadership Coach I encourage Christian leaders to reflect on God's Word to add to their wisdom.

• Dt 8:18  But remember the Lord your God, for it is he who gives you the ability to produce wealth ..

• Pr 13:16  All who are prudent act with knowledge, but fools expose their folly.

• Lk 14:28  Suppose one of you wants to build a tower. Won't you first sit down and estimate the cost to see if you have enough money to complete it? 

• Pr 30:24  Four things on earth are small, yet they are extremely wise: Ants are creatures of little strength, yet they store up their food in the summer ..

• Ps 37:21,22  The wicked borrow and do not repay, but the righteous give generously; those the Lord blesses will inherit the land, but those he curses will be destroyed. 

• Pr 21:20  The wise store up choice food and olive oil, but fools gulp theirs down. 

If you are a leader, executive, or senior level professional looking to work with a Christian Executive Coach, I invite you to connect with me here.

If appropriate, we can meet by phone or Zoom to discuss your situation.

Record Your Progress

This is your opportunity to track your progress. Start by asking yourself how important this practice is to you? Record the importance as - not at all, somewhat, fairly, highly or extremely. 

Now next to it ask yourself how well you carry out this practice. Record your performance as - very poor, poor, okay, good or very good. 

The things we track, we pay attention to. Across time, come back and record your new results. You will find that as you are intentional about making improvements, you will bump your "score" up higher. 

This is significant. Don't miss the opportunity to acknowledge your success, and use it as a springboard for making even further gain. 

Notes

Finances are right up there with the top things that cause stress. Disagreements, misspending, underfunding, lack of clarity, delays in funding. All these things and more can in most cases be avoided if you lead your team to manage the finances of the project in the best way possible. 

If you don't have those skills, find someone who does. Don't leave it to a "hope it will work out" attitude.