Creating healthy boundaries in your business is vitally important for entrepreneurs. We need to create and enforce boundaries around our money, time, and energy, so we don’t end up burnt out or resentful of our customers, vendors, and fans.
Every once in a while I open up one of the trainings for my Manage Money Like a Boss Collective membership group to the public. In this session, Beth Silvers, speaker, soon-to-be author, podcast host, and expert in difficult conversations, gave Collective members loads of valuable takeaways.
Watch the video and be sure to join the Manage Money Like a Boss Collective for ongoing training, accountability, and support for your entrepreneurial journey!
Creating Healthy Boundaries in Your Business:
Boundaries help strengthen relationships by clarifying who is responsible for what.
To establish a boundary, state clearly what you are responsible for and what you are not responsible for in the relationship. Be clear about your objectives, who is impacted when you establish a boundary, the stakes involved if you don’t set a boundary, and your willingness to enforce the boundary.
When you communicate boundaries, be clear and kind, following this format: “I want to discuss [specific issue or behavior] for three reasons. First, [acknowledge how it is impacting your behavior]. Second, [express your desire for a win-win solution]. Third, I’m hoping we can [state a specific desired outcome that you will share ownership in].”
Before enforcing boundaries, pause to consider the actual consequences of the boundary violation and your goal in discussing the boundary violation. When you have a conversation to enforce the boundary: (1) Remind the person of the importance of the relationship from your perspective; (2) Remind the person of the boundary you previously established; (3) Explain why you believe the boundary has violated, including any contribution you made; (4) Explain why you are bringing this up; (5) Ask for feedback sincerely, and listen; (6) Reiterate that you want to come away from the conversation with something that is good for both people; and (7) Thank the person for having the discussion.