Shifting Perspectives On Business Income

March 15, 2024/

Sitting down to talk with clients and focusing on business revenue is a typical conversation. I find that many entrepreneurs are frustrated that business income is lower than projected. As a business and executive coach, I get it and I know that shifting perspectives on business income is a matter of mindset. 

Entrepreneurs are in business to be successful and that means bringing in more money than they spend. 

If your business isn’t where you want it to be, or if you are not hitting projected revenue goals, I have a great perspective shift that I think you’ll find valuable. 

Shifting Perspectives On Business Income

Look at your profit and loss statement and your balance sheet. 

  • Your P&L focuses on the company revenue. Everything that comes into the business and everything that goes out equals what you have at the end of the accounting period.
  • Your company’s balance sheet shows the position of your business – its assets and liabilities.

When you are looking at the P & L sheet and find that your numbers are down and you’re not hitting projected revenues, BUT you look at your balance sheet and see the extra time you’ve invested in upgrading your skills — you’re going to be ahead of the game.

This is the perspective shift: Think about what assets you’ve gained by looking at your balance sheet. You’ve gained new skills for yourself and/or your team, you’ve attended conferences and networking events, and you’ve increased your expertise. And when you do this, you’re increasing your personal value to your business. That isn’t an investment that should be discounted!

Shift your mindset and think of it with a new perspective on your P&L. The numbers on the profit and loss sheet may look like they’re down, but the numbers on your balance sheet are up – because you’ve increased your personal assets via new skills and knowledge.

If you’re beating yourself up and are frustrated because your P&L isn’t where you want it to be, say to yourself, “Hey, look how much I’ve invested in myself and my skills! Through this investment, I’m even more valuable to my company.”

I hope this perspective shift can remind you how important investing in yourself and your business is.  

Are you or someone you know looking for an executive coaching plan? I’m just an email away at MaryJane@MaryJaneWalshThrive.com.