Have you ever been in a store and walked into an aisle at the perfect moment when you see a mom or a dad tell their child “No” and a theater of explosion fills the store? It happens to everyone. Don’t feel bad if it was your kid. We all know that children do not yet have an astute understanding of the practice of self discipline. But when you are running your own company, you must master self discipline.

Nothing sculpts your own discipline like learning how to save. I don’t do it to brag to my friends about finances, nor am I coming home to bathe in a pool of coins. I save, and you should too, to help practice self control. Learning financial self control will help you in all areas of business.

  1. Prepares for Risks. When you are saving money, you are preparing for a possible future downturn. My father once told me that in my life, “there are going to good times and bad times, but remember that neither last forever.” Saving before the bad times can greatly help you navigate through them.
  2. Betters Your Character. When you are continually refining your self control, it changes you in all areas of life. You begin to have more patience with people. You don’t tend to take shortcuts. And it helps you become less selfish. Selfish people are not fun people.
  3. Allows For Experiments. New and old business owners alike need the opportunity to experiment. When you are strapped for cash and stressing about tomorrow, it’s hard to feel creative and come up with new products, updates, ideas, etc. Constantly trying new things, reaching new markets, and fine tuning your trade is much easier when you have a little extra in reserve.

Walking down a store aisle and not allowing yourself to buy impulsively, or searching online for a product at the most reasonable price, or simply cutting out some recurring charges from your life that are not necessary are great ways to start saving. Simply move that money into an account and start adding to it.

If you are a small business owner, and you are practicing saving, what are some things that you’ve noticed improving in your shop or in your life? Since money management isn’t taught in schools, it has become a practice picked up by example or trial and error. What are some of your reasons to save and how are you doing it?

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Read the overview article, the switch: Freelance to Full Time.

Ben Homan is the founder of Skillful Antics: an honest web design, online marketing, and multimedia company. Interested in having us by your side? Let’s work together: 407-545-4649 or [email protected]