#385: The top 10 limiting financial beliefs in small business owners

Well hello there! 

I hope your week is going brilliantly. 

What if the beliefs you hold about money are shaping your business more than you realise?

As we’re nearing the end of the year I’m sure you’re already planning for next year. And of course you’ll be seeing posts everywhere challenging you to think bigger, set more ambitious goals and get clarity on what you really want. 

But here’s the thing—your goals and dreams are only as achievable as the beliefs that support them.

Over the next few weeks I’ll uncover the financial beliefs that could be running in the background of your business, exactly how these beliefs work in your brain, and most importantly how to create some new empowering financial beliefs for 2025.

I’ll kick that off with the top 10 limiting financial beliefs I’ve seen in action over and over, keeping businesses stuck, their owners deeply frustrated and their financial results decidedly underwhelming.

1) I can’t afford to say no to any client -  resisting niching 

This is such a classic. Taking on any business from any client, even if it’s unprofitable or not the business you really want. The fear of niching is incredibly common; it’s a fear of turning work down and limiting future business. This is rooted in scarcity mindset, survival thinking and  fear of uncertainty

2) I’m not good with numbers, and finance is complicated and stressful

Again, incredibly common. These beliefs lead to people avoiding financial reports and financial conversation because they associate money with stress or difficulty . They often choose not to be involved and delegate  (abdicate) responsibility for all things financial.

3) I can’t charge more, I’ll lose clients and struggle to get new ones

Not charging what you’re worth, over delivery,  reluctant to put prices up each year to cover inflation will result in low profit margins and burnout. The underlying issue is not believing in your own value and being afraid of losing clients

4) I need to do everything myself to save money

A classic trap for small business owners - this belief results in not delegating, not investing in systems or people and stifling growth and efficiency, and of course lower profits.

5) I need to grow fast to prove my success

This is driven by a belief that fast growth is what success looks like, and needing validation from others. This leads to rushed decisions, growing too quickly and always a lack of financial stability.

6) Investing in myself and my team is a luxury 

A scarcity mindset, focussed on short term survival will view investment in skills and knowledge as non-essential, which hurts the development of their business. This often comes from not feeling worthy of investment, and worried about the risk of the investment not paying off

7) Once I reach X revenue I’ll finally feel secure

This a common trap for business owners and stems from financial insecurity, and tying their security to a specific revenue milestone. This leads to chasing an arbitrary turnover figure that isn’t tied to personal financial goals, and inevitably that figure keeps increasing when they find that hitting that figure didn’t make them feel better after all!

8) Success always comes at a personal cost

This belief, usually inherited from parents, equates financial success with huge personal cost around health, time with family, and losing their time freedom.

9) I don’t have what it takes to run a successful business

This is a deep rooted belief stemming from imposter syndrome, comparing themselves with all the apparently successful people out there. This can be very limiting for making bold moves and feeling afraid to be ambitious

10) More revenue means more work and less control

This belief ties growth to overwhelm and burnout, which can hold people back from growing to the next stage, keeping them trapped in overwork.

I wonder how many of these you can relate to?

I know that over the years I can see many of them playing out in my own business journey, and I’ve worked hard to rewire my beliefs to be more useful! 

I’m definitely not finished though, these old beliefs can keep popping up in different ways, ready to sabotage you when you’re not paying attention! 

Your action for the week

Which of these beliefs struck a nerve?

Take a moment to reflect on where they might be showing up in your decisions and holding you back. Write down one belief you’re ready to challenge and consider how shifting it could change your results (and your life!

What’s next

Next week we’ll dive into the neuroscience of how these sneaky beliefs are wired into your brain,and affect how you run your business. Once we understand them we can change them!

January discovery calls

From February I’m opening up some new coaching slots to work 1:1 with business owners to uncover their limiting beliefs and create new ones.

If you’re ready to change your financial beliefs and results, drop me an email to book a free 20 minute discovery call in January. 

Have a great week

Serena

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