Val Mosley, the Billion Dollar Mom, gives helpful insight on how managing money is similar to managing family life, and what you can do to excel in both.
Moms, care providers, grandmothers, and aunts are often ‘the rock’ of a family unit, and everyone relies heavily on their support and strength. The same goes for new business owners who have clients, employees, and investors looking to them for success and satisfaction. Mothers want to give it all for their families. They want to be the rock as well as the soft place to land. Business owners want to be all they can be for their start-ups.
What is the key to doing both successfully?
The gift of ‘no,’ and how to be aware of the Cycle of Giving when it comes to your time and energy.
Val teaches how the word ‘no’ is a complete sentence. To be a successful mom, you need know when to say ‘no’ and when to say ‘yes,’ and the same principle is true with the giving and investing of your money.
Val compares smaller start-up companies with new parents. New parents are so busy with their newborns or small children that they simply do not have the energy for much else, just as new businesses need to build up their bank account and position themselves to grow before they can begin to think about giving dividends to their investors. She compares larger companies, who have more cash flow, to the grandparents who are financially established, experienced, and often have time to give.
As the leaders of our families, we must know when to say ‘no’ and when it is okay to say ‘yes.’ Otherwise, we will deplete our own resources, making it impossible to give to those we love the most.