Manage Your Cash Flow or Go Out of Business with Joan Sotkin

On this episode of Rhodes to Success, I interview Joan Sotkin, who is an author, coach, and business woman, and has helped thousands of people understand why they do what they do with their money and how to alter their financial behavior. Joan is the founder of Prosperity Place and author of the award-winning book Build Your Money Muscles. Her passion is helping people improve their relationship with their money and themselves. During the show, Jessica and Joan discuss business and bookkeeping, why we do what we do, money, and shame.   Main Questions Asked: <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       What brought you into working on money issues with people? <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       Should everyone learn how to do his or her own bookkeeping and manage cash flow? <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       What are the characteristics or personality traits that cause some people to have better relationships with money?   Key Lessons Learned: Business & Bookkeeping <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       It’s possible to have someone in the bookkeeping role, but you have to know what the numbers mean. <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       The first step is to make a decision to take care of your business. <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       Business isn’t something you go into where you love everything you do every minute. <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       Taking care of your finances isn’t about knowing numbers; it’s about data entry. <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       Managing cash flow isn’t what a bookkeeper does. They just keep the books. <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       Mental math is a useful way to turn the left part of your brain on. <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       Your business is an extension of you, and if you’re still in financial fear, you won’t look at your numbers if you feel shame.   Why We Do What We Do <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       In the beginning stages it’s important to understand why you do what you do with your money now and how you can get to a point of being more functional. <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       Recognize the kinesthetic experience in your body when you talk about money. <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       Count your money and spend less than you earn.   Money, Shame, & Feelings <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       If you feel shame about your finances, it is never about money. It is about relationships and how you feel about yourself and your relationship with others. <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       Don’t stress and worry about the past; take action for what you want to happen in the future. <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       When you love, accept, acknowledge, and appreciate yourself, the world will mirror that back to you. <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       Our need for touch determines so much of our business and financial outcomes. We weren’t meant to ‘go it alone.’ <p class="MsoNormal" style="margin-left:.5in;text-indent:-.25in;mso-list:l0 level1 lfo1; tab-stops:list .5in">-       The longing for money is the same feeling as longing for touch.   Subscribe to the show in iTunes or Stitcher Radio!   The music in today's episode was written by The Danger Os and produced by Nick Palmer. Check them out at https://www.facebook.com/thedangerosmakemusic    Links to Resources Mentioned Prosperity Place Freedom From Struggle Build Your Money Muscles (book)