7 things you can do to get out of a financial rut

7 things you can do to get out of a financial rut

As the founder of a business, we all share one common problem.

The timing of it may not be the same for everyone, but at one point or another no matter how financially ‘successful’ your business is:

You will hit a financial rut

Whether it’s at the start of your business, during a rapid growth phase or once you hit your big goal, you will feel like you’re stuck at a money plateau and just can’t seem to get past it.

What is a money plateau? 

It’s like an invisible limit we hit around money (also known as an “upper limit”) and it reflects your beliefs about what you are capable of earning.

You’ll know you’ve hit it because some sneaky behaviours will start to set in… you’ll feel resistance, you may start procrastinating or avoiding taking action and all of this can lead to sabotaging your financial goals.

Here are 7 ways to bust through that plateau and get out of your financial rut:

1. Journal your thoughts

It’s time to get real with yourself about what you’re thinking. This requires you to write your thoughts down on paper. Set a timer for 10 minutes, and keep writing for the full amount of time. Do not let your pen leave the page! You will uncover so many funky beliefs you didn’t realise you had.

2. Challenge your beliefs

Challenge each belief you uncovered above when you journaled your thoughts. If you were in court challenging whether it was a fact, what evidence can you find to disprove it? Ask yourself “is this belief moving me towards or away from my goals?” If it’s away from, replace the belief with one that better supports you.

3. Give yourself a Performance Assessment

Get real with how you spend your time and focus. Are you doing work that you can delegate? If so, why? Are you putting off completing a piece of work and justifying why it’s ok? Imagine you have to report to a Board of Directors – what would you say about your standards around work?

4. Get clear on your why

When we get off course and start to feel stuck, a great way to bring back the feeling of motivation is to reconnect to our purpose. Do you have a clear vision for your business and yourself that you review at least each week? If not, now could be a good time to update it. What impact does your success have on others and yourself?

5. Take action

Write down three actions you can take today. Check your to-do list, it could provide some ideas such as sending the email or making the phone call you’ve been avoiding. Tackle these 3 actions first thing today before you move on to any other work.

6. Set yourself a fail challenge

A fail challenge is doing something that you truly believe is not going to come off. For example, you might reach out to be a speaker at your industry conference or send a letter to someone you would love to have as a client. The best thing with this is, that when you aren’t fearful of failing, you just get on and do it anyway. Expect to fail and you might just surprise yourself with a totally different outcome!

7. Reach out and ask for help

If you have tried all of the above or just don’t feel like you are in the right headspace to do it, then reach out and ask for help. It might be a raw and honest chat with a trusted business buddy that helps you reframe and refocus. Or seek out a mentor or coach – you can book a chat with Ness below to see if working with a coach is the right thing for you.

Ness is a money coach, helping businesswomen like you gain clarity over your financial goals, building wealth and financial security for your future.

Do you have the financial foundations to set your business up for success?

Do you have the financial foundations to set your business up for success?

This week in our True North in Business Mastermind I ran a Masterclass all about the financial foundations that are essential to have in place to run a successful (and profitable) business. It was one of the most popular Masterclasses so far with many valuable take-aways and lightbulb moments for our clients.

If you’re anything like the women we speak to and work with, you might be able to relate to some (or all!) of these challenges:

  • Lack of cash flow
  • No clear planning
  • Unreliable financial data
  • Poor understanding of the numbers
  • Lack of time

If you said nodded along to any of those, then read on…


The 7 key financial checkpoints in business you need to nail:

  • Whether your business structure is best for now and will see you into the future
  • Making sure you have the correct amount of tax put aside so you don’t end up with any surprise tax bills
  • Starting out strong when it comes to setting up your cloud-based accounting software
  • Knowing the three most important financial statements you need to be across in business and how to interpret them
  • There are 7 key numbers to monitor in your business – how many are you currently looking at and where’s the gap?
  • What profit-building habits you need to implement in your business
  • Keeping your expenses in check with a simple plan to ensure they’re a part of a monthly system

Whether you’re in the early stages of business and setting up your foundations, or you’ve been in business for ten years and realise that perhaps those foundations are rocky, being able to feel confident across these areas is essential.

Because as the old saying goes:

Revenue is Vanity

Profit is Sanity

Cash is Reality

Need more help with this? You might like to consider joining our True North in Business Mastermind. Or perhaps you’re looking for a more hands-on approach to support? Reach out and let’s start a conversation. Book a chat with me by clicking the button below.


Ness is a money coach, helping businesswomen like you gain clarity over your financial goals, building wealth and financial security for your future.

5 money myths that are holding you back

5 money myths that are holding you back

Our beliefs are sneaky little tricksters

You would be surprised by how influenced we’ve been as kids when it comes to our money story. You see, when we were growing up we were learning to hold beliefs about how the world works. And when it comes to money it could be still holding us back.

How ingrained are some of these sayings for you?

  • Money doesn’t grow on trees (said that to my kids more than once!)
  • The rich get richer, the poor get poorer (thanks Robin Hood)
  • Another day another dollar (always said in a depressing tone on a Monday morning)
  • Money isn’t everything (how we justify not having money)

And these don’t even scratch the surface of the thousands of times we’ve heard people give meaning to money over our lifetime from friends and family to TV and movies.

Why does this matter? 

All these stories we hold about money we believe as the truth and they influence our actions, especially in business. What I want to challenge is why you should believe them in the first place.

Let’s tackle some big myths I see holding women in business back from reaching an income level they deserve and that allows a sense of financial freedom for them.

#1 You will pay yourself when you hit a certain income level

How this holds you back: When we first go into business often it takes some lag time to start earning more money than what is needed to cover expenses. However, if we don’t draw the line and start paying ourselves even a small amount that can be built upon, then the magical income level number gets shifted further and further back. We grow our expenses to match the income and there is nothing left over. So include your own wage as part of your expenses and watch yourself bring in enough to cover it.

#2 You’re not good with finances

How this holds you back: It might have been a throw-away line from your maths teacher at a stage where numbers felt hard that left you with this belief. The problem here is that we take this belief with us throughout adulthood and never challenge our thinking. You don’t need to have an accounting degree to go into business, but abdicating your finances to your accountant or bookkeeper without learning about what the numbers mean will not help you build your wealth. All it does is keep your head buried in the sand which is a recipe for disaster.

#3 One solid source of income is all you need to build wealth

How this holds you back: There are a couple of issues with this line of thinking. Firstly, this means you put all your eggs into one basket and if something out of your control happens (hello global pandemic, I’m looking at you!) then everything falls over. Secondly, it can set you up to pour all your waking hours into growing your business which can leave you feeling burnt out and resentful. It holds you back from looking at the bigger picture of your life and finding multiple streams of income that all work towards building your personal wealth.

#4 You can “set and forget” your revenue streams

How this holds you back: This kind of thinking for me sits alongside the ‘overnight success’ thinking where we see someone on social media making millions in their first year of business. But when you dig deeper, it’s actually taken them years (often with failed businesses behind them) to get those results. Setting and forgetting can leave the impression you don’t need to think about your product or service once you’ve created version 1.0. The truth is, to stay relevant in your market you need to continually improve your products or services. 

#5 You need a lot of money to start investing

How this holds you back: When we fall into the trap of believing what the media feeds us about rich investors, we can think it’s out of our reach because we don’t have the tens of thousands of dollars (and beyond) to get started. Nowadays the barrier to entry into the share market has reduced with share apps that have no minimum investment, so you decide how much you want to invest. You can buy part of any share with just 1¢! And if you own your home, you might have enough equity to purchase an investment property without having to outlay any of your own money. 

If you are a woman in business who wants to set and achieve your financial goals but feels like there’s something holding you back, then you might like to consider working with a money coach. Book a free discovery call with me to see if working with a coach is right for you.

Ness is a money coach, helping businesswomen like you gain clarity over your financial goals, building wealth and financial security for your future.

What Is Hot Seat Mentoring?

What Is Hot Seat Mentoring?

Who do you turn to when you need business advice?

When you hit a challenge in your business – or an opportunity that is causing a challenge in trying to figure out what to do, who do you turn to for advice?

Often we ask our partner, family or friends for advice about our business thinking they will be able to help because they know us well and have our best interest at heart. But that doesn’t always result in the best advice.

So who to turn to?

Watch as Nicky and Ness talk through the concept of hot seat mentoring, a wonderful way of experiencing feedback from those who know how to answer your questions.



Is your ego dictating your financial goal setting?

Is your ego dictating your financial goal setting?

If you’ve ever set a big financial goal and deep down know you won’t be able to achieve it then this video is for you.

If we listen to others, we can get sucked into joining the bandwagon of 6 or 7 figure business based on our ego rather than setting goals that work for us.

What this means is that although we have a big goal written down that we’re aiming for, deep down we know we’re not likely to hit it. So we link a negative feeling to that number and get frustrated when we don’t reach it, wondering what’s wrong with us.

At this stage, we start chasing this elusive number by trying to be like everyone else and get further and further into a rut.

Watch as Ness shares her insights into how to solve this problem so that you can set goals aligned so closely to what you believe that you will smash them!