Friday, February 26, 2010

Afraid to face your financials?

Fear of the facts is something that puts you in good company! Two weeks before she was slated to ski in the 2010 Olympics, Lindsey Vonn injured her shin.  In an interview that aired during the opening coverage, Lindsey admitted that she avoided having the injury diagnosed. She didn’t want an MRI. She didn’t want an x-ray. She knew her dream was in danger and she didn’t want to face it. She didn’t want to be taken out of the games.
Many of my clients feel the same way about their financial results. However, just as Lindsey found, “not facing” is different than “not knowing”. She didn’t have the details, but she did know that she had a serious issue.  Eventually, Lindsey needed to have her injury diagnosed in order to treat it most effectively. Similarly, you need to understand your financial situation and real prospects in order to make the best decisions for your practice.
Financial results are facts.  The bottom line is that knowing is better than not knowing. Financials aren’t about how “good” a person you are; they aren’t about what you “deserve”; they aren’t about what you’re “worth”. Financial facts don’t even show how hard you’ve worked. The root cause of your fear might relate to an action you aren’t prepared to take or decisions you aren’t ready to make.  Still, it’s better to take control and own your future than to let it happen to you. How you respond to the reality of your financial outlook is up to you, don’t let fear stop you from taking a good look at that reality.
Create a process around evaluating your financials on a monthly basis. If you do, you’ll find that your resistance disappears and you can focus on the important work of adjusting what you’re doing so that you get the results you want to see.  And, just like Lindsey, who won a gold medal in her first race of the 2010 games, you just might find you’re in better shape than you think you are! Don’t fear the facts. Face them.