Gemma is an award winning qualified accountant with over 20 years experience working in Finance around the globe. She has saved hundreds of thousands to the bottom line of business owners across the planet. From managing commercial property with sales in excess of £200 million and successfully managing a £27 million net income to helping local Cornish business owners scale from start up to 100k in 12 months!
Her passion for supporting women to achieve their own financial success has grown into the mission of her business GEM Consultancy UK – to make women rich! Through financial empowerment Gemma helps women to run a business that maximises the money and freedom they experience so that they can live a life they love.
Gemma believes that with the right mindset, financial strategy, systems and knowledge you will catapult your success
It is completely possible as a woman in business to break down those barriers we have around money and improve our relationship with it, to increase the wealth that we have. The easiest way to do this is to first think about our own money mindset. This is just a set of beliefs that we hold that’s individual and specific to us about money. It’s formed really in the very early years of our lives, depending on what we’ve listened to and had modelled around us from like our caregivers, whatever their perspectives on money was. All these things are not necessarily true and they aren’t our story, they are someone else’s.
Since learning about the concept of a money mindset, I now know that I’ve always had one. But I didn’t know what the concept meant. Nor did I know how it was holding me back or how to work on that specifically to improve the relationship that I have with money. I didn’t even know that we had a relationship with money. I just thought people were either good, good or bad with money.
Something I knew was that there were behaviours that business owners operated with that made them financially successful in business. But I didn’t really give weight to their individual mindset of the actual human being running the business. I began recognising the ones that had a healthy money mindset being more successful than those who didn’t have a healthy money mindset.
If you want to charge more, but you think people won’t pay it. This means you are projecting on someone else what they are willing to pay, without knowing anything about their true financial situation. If this is you, take stock of your achievements. Grab a piece of paper and write down all the achievements you’ve had in your life since secondary school until now.
Just from looking at this and comparing them to your rates, more often than not, you’ll realise you are far too cheap for the value you are bringing to the table.
We bring our personal stuff into our business, whether we want to or not, we definitely do. The business is only as healthy as the person running it is what I say. Wealth on your terms and wealth on my terms would be different. It’s not necessarily that we’re all turning over a six-figure business or a seven-figure business or that I’ve got five houses. We all want different things and that’s completely fine.
You need to find evidence that what you want to achieve has been done, by someone who is in a similar position to you. If you are a single mother, there is no point comparing yourself to someone who is in their 20’s with no children and no financial responsibility.
Once you can see that it’s possible for somebody else, it’s definitely possible for you. I think that mindset shift of not competing with, but thinking, yes, if they’ve got this success, I’m so happy for them because it means that if it’s possible for them, they’re showing me that it’s possible for me too.
If you are in debt and feel like having financial freedom is a million miles away, to that I say well the time is going to pass anyway. Are you going to let it pass and it gets worse? Or will you let the time pass, whilst chipping away at your debt and getting on the road to financial freedom?
Make sure you consolidate everything, and figure out where all your money and debt is. Get your partner/spouse on board if you have one as well. Have those difficult money conversations and get on the same page. The more open and transparent you are with yourself and your partner, the easier it will be to move through it.
If you need additional help, there are debt charities you can talk to, to help consolidate your debt and free your interest, whilst you make a plan to pay it off. These charities do not cost anything and are the best option if you need significant help with debt.
Whatever your story with money, you can change it. The first step is the acknowledgement that you want to change to start with, then move on to looking at your money. Get familiar with it, what’s coming in and what’s coming out. I know it is really hard to get to grips with running a business and all the financial responsibilities that come with it. However, if you can re-form your habits and make your money mindset a priority. I guarantee you, that you will find the day-to-day running of your business not only easier, but more successful too.
Policy Bee – for 10% discount
Instagram: @iamgemmaheard
Website Course: Finance Mastery Blueprint – Female Founders (gemconsultancyuk.com)
Denise Duffield Thomas – Mindset mentor – Website
Atomic Habits – James Clear -Book
Dan Sulliven – 10x is easier than 2x – Book
Debt charity – Step change – Website
Monzo bank account – Website
Ready reckoner tool HMRC – Website
NHS talking therapies self-referral/mental health help – Website
Check out our previous blogs here: 5 tips to grow your confidence
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