Money, money, money

There’s that classic Dire Straits song, Money for Nothing.

Yet you and I both know, there’s no such thing.

And the sad reality is that money can often take a lot more than gives.

A survey I recently conducted revealed that money worries were the main thing keeping North East business leaders awake at night.

That’s hardly the jolly story I’d like to tell you near Christmas, but sadly, finances are the biggest cause of stress for most of our entrepreneurs.

And like a dog, those money worries are not just for Christmas.

CEOs spend all year stressing about cashflow – but it does not need to be this way, and there’s plenty of help at hand to banish that stress.

Support networks are an immense coping tool. Talking openly and honestly about your problems can also ease those anxieties.

And there’s also early intervention tools, like coaching.

My poll showed that around 40 per cent of North East business leaders had tried coaching to help them through hard times.

It is becoming increasingly popular, and it’s important to be aware that it isn’t just support: it is often the solution. Rather than being a reactive tool if you find yourself with money worries, employing a coach can help to guide away from financial difficulties by making you more financially sensible from the outset.

Not only that, it can also help your business grow.

But your business will only flourish if you flourish.

Stressing about money in the wee hours won’t help anybody.

You will suffer, your family suffer, your staff will suffer – as will your business.

So don’t let them happen. Make a new year resolution to get the help you need to manage those stresses – and to make 2024 the year you grow.