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Debt Management Strategy – How To Handle Financial Problems In Business

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– Hi, Coach Frasier here, with Packed Circle Coaching and Consulting And today I wanted to speak to you about debt

Debt is a immense thing that we hear about continually from clients, from those who reach out to us, and even just hey, family and friends Debt is a kind of things that’s so powerful that it can paralyze people and control their lives And we're seeing increasingly debt in our society We're seeing people graduating with student loans of 250,000 dollars We're seeing people incurring increasingly loans of their business to expand and grow

Lines of credits We're seeing mortgages getting larger and bigger, debt carrying rate We're seeing people using bank cards to repay other bank cards They usually're maxing them out We're moreover seeing all sorts of individuals which might be stressed about paying taxes and the debts that they owe to the federal government

So, whether we allow these type of stresses and this anxiety around debt to manage us, it will totally interfere with our ability to expand our businesses and grow our lives So, how will we do that? Opening step is we need to teach you easy methods to start out wearing the pants in your relationship with debt so to start out to manage it It's all about mindset The moment step is about creating a plan Whether you possibly can create a plan that lets you breakdown that debt and just defeat the drum so to actually pay it off in a specified period of time, you possibly can control your debt

And you may eliminate your anxiety and fear And that's the purpose Debt, similar to fear, is invisible but it's real, okay And it moreover, though it's powerless, it can dominate people I've seen it time and again

So, let's create a plan so to get your life back, control it and prosper So, the first step The initial piece again, mindset Whatever we put our energy towards is the location our energy goes So, whether our mindset is all about debt, guess what we get? We attract more debt

So, what we take into consideration, we bring about And everyone knows it We all know people which might be apprehensive about debt and that's all they speak about And guess what? They're paralyzed there They're in that space they usually save on attracting increasingly debt and bills

So, let's crack that cycle The initial step to doing that’s to take a chunk of paper out and start out to jot down down all the benefits of the debt that you’ve So, be grateful Launch to jot down down all the advantages that the banks and all the loan companies and the road of credits, and all these distinct lenders, even your clients After they're lending you money, what are the advantages? What are you doing with that cash? So, once you start out writing down adequate benefits for money then you definitely're gonna start out to shift your mindset around it

It's not gonna be a negative anymore, it's gonna be a positive So, let's take into consideration this You realize, money The debt that you simply've borrowed is allowed you to get a level from school and assist you to earn a living It may need made you into a health care provider that may help you alter lives

It’d've allowed you to purchase the home that you simply now shelter and protect your loved ones with It could help you get the car that gets you to and from work It helps you shuttle your kids to distinct events There are a 1000 distinct ways in which money is a benefit, or debt is a benefit And once you write adequate of those down, you'll feel grateful for it

Step number two, change your debt from a money value, right into a service value So again, mindset around money could be very powerful, it's very emotional and it can control us So, let's simply take that cash and work out how much debt we’ve got, how much we owe and let's crack it down into rate of service So, the services are the things that we do in our business Whether it's a chiropractor, are you adjusting? What's your rate per adjustment

Or whether you're in business, what's your fair transaction rate or fee? And once you buildup your service rate, you possibly can split that into your debt and work out what number of services will it take to repay your debt While you got that variety of services, now, we will start out to deal with the quantity of services that we will lovingly deliver or sell, or transactions that we stock on and the way we will actually convert that into positive energy that can help us grow our business and deliver more services in order that we will pay down that debt Quite than being stuck on that negative dollar value Powerful thing I've seen this action

I’ve a clientele that was mired in a honest little bit of debt I believe there was at fewest three distinct bank cards and a number of other line of credits And after we began to simply simply consolidate them 'cause he had 5 or 6 distinct payments And we consolidated them into one big mass and we broke it down into the variety of adjustments it would take for him to pay that off, then we created a plan monthly What number of services did he require monthly with a purpose to make that occur? The result was amazing

Because initial of all I saw his shoulders drop about six or eight inches The quantity of energy that moved out of him was incredible because finally he saw how he controlled the debt The debt didn't control him, he controlled it And he was qualified to deal with delivering that loving service in his practice And suddenly, his practice exploded

So, that is very real Whether you possibly can memorize easy methods to control the energy and mindset around debt, you possibly can take back your life and you’ll persevere to grow your practice and expand your ability to deliver your optimal self to the planet So, let's take into consideration this, debt is absolutely only a relationship with money That's all it is, it's a mirrored image of that and we see so many of our clients that have a immense block and that block interferes with their ability to grow their business or their practice So, whether you're ready to vary your mindset around debt and to take some big steps forward, try considered one of our coaches, see whether you possibly can book a call with considered one of us and we will take a look at a number of the interferences that you could have in your life, debt or otherwise, that thwart you from expanding your business

Take a look at the practice growth strategy sessions in-the link underneath Let's see whether we will help crack through that practice plateau, or that business glass ceiling that limits you, and make that right into a modern glass floor And you may start out to grow your business and your practice organically Thanks for watching

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