1 00:00:00,000 --> 00:00:00,809 Imagine this. 2 00:00:01,370 --> 00:00:04,249 You have no fear of what your bank account is saying, and you have no 3 00:00:04,249 --> 00:00:06,080 problem looking at it each and every day. 4 00:00:06,400 --> 00:00:08,779 It's just as neutral as any other part of your day. 5 00:00:09,459 --> 00:00:13,200 When you receive your financial reports from your bookkeeper or accountant, you're 6 00:00:13,219 --> 00:00:15,270 comfortable reviewing them on your own. 7 00:00:15,589 --> 00:00:19,489 You're able to assess your financial trends and ensure that what you're 8 00:00:19,549 --> 00:00:21,309 investing in is getting a return. 9 00:00:22,040 --> 00:00:26,130 You're able to pay yourself very well from your business and what you 10 00:00:26,130 --> 00:00:27,890 pay yourself is more than enough. 11 00:00:28,350 --> 00:00:33,530 to not only cover your monthly expenses, but also you're able to save, invest, and 12 00:00:33,530 --> 00:00:36,069 accomplish your immediate lifestyle goals. 13 00:00:36,069 --> 00:00:38,419 You naturally trust yourself with your money. 14 00:00:38,910 --> 00:00:42,429 Everything will always work out, you say to yourself, and your bank 15 00:00:42,429 --> 00:00:43,769 account is an example of this. 16 00:00:44,190 --> 00:00:48,799 When things take a turn in business as they normally do, you have the 17 00:00:48,799 --> 00:00:52,779 foresight to keep profit in your business to ride the wave and 18 00:00:52,779 --> 00:00:54,390 also pivot whenever necessary. 19 00:00:54,800 --> 00:00:57,150 Do you want to learn how to have a better relationship with your money? 20 00:00:57,510 --> 00:01:02,469 In this episode, you'll learn why you know how to make money, but somehow 21 00:01:02,489 --> 00:01:04,070 don't know how to maintain your money. 22 00:01:04,800 --> 00:01:08,530 This is the Harmonious Wealth Podcast, where we're breaking online business 23 00:01:08,530 --> 00:01:13,600 owners free from chasing every next revenue milestone and instead prioritizing 24 00:01:13,670 --> 00:01:17,780 lifestyle and legacy goals so you can finally have the personal wealth 25 00:01:17,800 --> 00:01:19,440 to show for your business success. 26 00:01:19,769 --> 00:01:23,909 I'm your host, Iyanna Vaughn, fractional CFO and bookkeeper here to guide you. 27 00:01:24,369 --> 00:01:26,970 Now let's start building your financial legacy. 28 00:01:28,248 --> 00:01:32,318 Hey, welcome back to the Harmonious Wealth, I was about to say 29 00:01:32,318 --> 00:01:37,697 website, but welcome back to Harmonious Wealth, the podcast. 30 00:01:37,958 --> 00:01:41,618 So it's a lovely day today. 31 00:01:42,358 --> 00:01:44,208 I am on the other side of my cycle. 32 00:01:44,257 --> 00:01:45,137 I am ovulating. 33 00:01:45,158 --> 00:01:46,337 I'm feeling amazing. 34 00:01:46,348 --> 00:01:48,978 Today was of a sort of random things. 35 00:01:48,978 --> 00:01:52,898 I'm literally getting started with recording at 12 noon and I wanted 36 00:01:52,898 --> 00:01:54,508 to start earlier in the morning. 37 00:01:54,508 --> 00:01:56,733 However, Your girl had to get ready. 38 00:01:56,773 --> 00:01:57,723 She had to do her hair. 39 00:01:59,093 --> 00:02:00,253 Yes, all the things. 40 00:02:00,473 --> 00:02:04,323 I will say my best friend, she had her third baby girl. 41 00:02:04,523 --> 00:02:09,273 Well, she has two baby girls, third child, and we were going over her birth story 42 00:02:09,283 --> 00:02:14,763 and I love hearing birth stories and hers was parts of it was really heartbreaking. 43 00:02:14,772 --> 00:02:19,783 However, God provided her a baby girl who was healthy and she's healthy. 44 00:02:20,263 --> 00:02:22,303 So I'm praying that she continues to heal. 45 00:02:23,713 --> 00:02:25,193 So that was great news. 46 00:02:26,743 --> 00:02:28,513 So yeah, welcome to another episode. 47 00:02:28,603 --> 00:02:30,823 As you see, I have Pam with me. 48 00:02:30,833 --> 00:02:32,233 Her name is Pam the Palm. 49 00:02:32,623 --> 00:02:36,623 I wanted to kind of incorporate some live flowers or plants. 50 00:02:36,703 --> 00:02:37,853 I'm a plant mom. 51 00:02:38,113 --> 00:02:41,153 I want to be one when I grow up, but I'm trying my best. 52 00:02:42,653 --> 00:02:47,483 But today I want to talk to you about like, why are you able to make money? 53 00:02:47,948 --> 00:02:50,398 But you seem to not know how to maintain it. 54 00:02:50,848 --> 00:02:53,578 Before we get in, I do want to announce that we are having an open 55 00:02:53,578 --> 00:02:56,328 house on Friday, April 26th, 12 p. 56 00:02:56,328 --> 00:02:56,448 m. 57 00:02:56,478 --> 00:02:57,028 Eastern. 58 00:02:57,298 --> 00:03:00,348 And we're going to be talking about why your revenue means nothing if you don't 59 00:03:00,358 --> 00:03:04,998 have your legacy or personal wealth to show for it from your business. 60 00:03:05,468 --> 00:03:07,478 So you can sign up at lovelyfinancials. 61 00:03:07,518 --> 00:03:08,888 com slash open house. 62 00:03:09,978 --> 00:03:13,888 So one big mistake that we make when it comes to managing your money and 63 00:03:13,888 --> 00:03:15,728 your business is we center money? 64 00:03:16,137 --> 00:03:21,277 Much how we've been programmed to center men in our lives, we've also been 65 00:03:21,277 --> 00:03:26,047 programmed to center money in our life and whatever is in our bank account, 66 00:03:26,188 --> 00:03:28,037 we feel that is what we are worth. 67 00:03:28,628 --> 00:03:31,238 And we need to cancel that out. 68 00:03:32,178 --> 00:03:35,597 So think of it like this, with the uprise of women transitioning that 69 00:03:35,597 --> 00:03:37,477 programming of centering men, right? 70 00:03:37,477 --> 00:03:38,917 They're decentering men. 71 00:03:39,178 --> 00:03:40,968 What if we did the same with money? 72 00:03:40,968 --> 00:03:44,357 We decenter money to get the best results with our money or change our 73 00:03:44,357 --> 00:03:47,718 relationship with our money, rewarding yourself with the obsession of money, 74 00:03:47,718 --> 00:03:52,698 the fixation of it, trying to control it and trying to receive the love that 75 00:03:52,698 --> 00:03:54,698 you Desperately desired as a child. 76 00:03:54,698 --> 00:03:59,048 When you choose to decenter money as like the most important thing, you're 77 00:03:59,058 --> 00:04:04,128 able to create healthier boundaries for it and you're able to respond and you're 78 00:04:04,137 --> 00:04:06,268 able to be at peace in every situation. 79 00:04:06,278 --> 00:04:09,358 Now there's, of course, when there's an emergency that's different, 80 00:04:09,707 --> 00:04:12,598 but you're not living your everyday as if it's an emergency. 81 00:04:13,048 --> 00:04:18,183 For me, when I started to heal, all parts of myself. 82 00:04:18,203 --> 00:04:19,533 I first started with God. 83 00:04:20,143 --> 00:04:21,523 I centered God, right? 84 00:04:21,523 --> 00:04:23,923 And I was able to love myself more, right? 85 00:04:23,923 --> 00:04:28,113 And then I'm able to love others more and then able to serve and serving 86 00:04:28,142 --> 00:04:32,342 others means that I will have to be able to earn a little bit more 87 00:04:32,343 --> 00:04:34,562 to serve more or provide a service. 88 00:04:34,563 --> 00:04:37,363 And that exchange is a monetary exchange. 89 00:04:37,813 --> 00:04:42,353 When you learn to heal parts of yourself, especially your feminine 90 00:04:42,373 --> 00:04:49,312 energy in relationships and with money, you begin to stop the distrust and 91 00:04:49,323 --> 00:04:53,643 stop the avoidance and that scarcity mindset that you may have had and 92 00:04:53,643 --> 00:04:55,513 settling for less than what you deserve. 93 00:04:56,093 --> 00:05:00,153 So I want to get into like unhealed masculine energy when you're running 94 00:05:00,153 --> 00:05:04,793 your business is like controlling, you're competitive, you're making 95 00:05:04,793 --> 00:05:07,973 money, the center of your business and you're stressing yourself out. 96 00:05:08,343 --> 00:05:10,103 you're refreshing your stripe feed. 97 00:05:10,103 --> 00:05:13,703 You're refreshing like your, your convert kit form to see like, 98 00:05:13,703 --> 00:05:14,933 who's signing up for the leads. 99 00:05:14,933 --> 00:05:19,943 You're really desperate and making the next sale making money in your business 100 00:05:19,963 --> 00:05:24,273 versus like, okay, I can trust that when I have this sales call, that if 101 00:05:24,273 --> 00:05:26,633 they're a best fit, they would sign up. 102 00:05:26,953 --> 00:05:30,573 Also, I'm able to attract others online and bringing more people 103 00:05:30,573 --> 00:05:32,383 in that are best suit for me. 104 00:05:32,383 --> 00:05:36,573 When you decenter money, you feel more contentment and you know exactly what you 105 00:05:36,573 --> 00:05:40,558 have because you know where your money is going and that it's working for you. 106 00:05:41,268 --> 00:05:45,068 Again, when I personally started to de center everything else and center 107 00:05:45,088 --> 00:05:48,888 God, versus centering money in my business, it allowed me to show up 108 00:05:48,898 --> 00:05:53,438 better to team meetings, to client calls, a sales call in a peaceful aura. 109 00:05:54,008 --> 00:05:56,007 I went from being like. 110 00:05:56,258 --> 00:06:00,698 Extremely overwhelmed and like, desperate and like, how can I help you and 111 00:06:01,078 --> 00:06:04,738 getting all the nitty gritty and like, following up, following up, following up. 112 00:06:05,008 --> 00:06:05,298 Yes. 113 00:06:05,338 --> 00:06:11,188 Following up is important, but I was like, doing the most so de centering the 114 00:06:11,188 --> 00:06:18,708 expectation of a sale and centering my relationship with God and being imparted 115 00:06:19,028 --> 00:06:24,948 confidence in what I have to offer and serve helped me heal my relationship with 116 00:06:24,968 --> 00:06:31,138 money and also maintaining it better after I, I went through spiritual rock bottom. 117 00:06:31,618 --> 00:06:36,038 So you have an unhealed or unhealthy relationship with money because 118 00:06:36,498 --> 00:06:40,718 there is this poverty mindset loop that you might have experienced. 119 00:06:41,008 --> 00:06:45,688 You know, that comes from you not wanting to take risks. 120 00:06:46,268 --> 00:06:49,078 You feel like success is temporary, right? 121 00:06:49,458 --> 00:06:52,118 And that it's, you're not able to replicate what you've 122 00:06:52,118 --> 00:06:54,078 done before for your success. 123 00:06:54,628 --> 00:06:57,448 And you're thinking that, okay, this is a fluke. 124 00:06:57,748 --> 00:06:59,828 What I've earned, I can't do it anymore. 125 00:06:59,868 --> 00:07:01,438 Let me just spend it before it's gone. 126 00:07:02,023 --> 00:07:04,683 So centering money is not the right approach because you will always 127 00:07:04,693 --> 00:07:08,533 be in a perpetual state of placing value on what you have in revenue, 128 00:07:08,533 --> 00:07:10,223 profit, and where your cash is at. 129 00:07:10,339 --> 00:07:13,549 So when you begin to understand that you don't have to beg for money just 130 00:07:13,549 --> 00:07:16,029 like how you don't have to beg for love. 131 00:07:16,049 --> 00:07:18,809 You begin to heal your relationship with money and you 132 00:07:18,809 --> 00:07:21,189 can instead understand money. 133 00:07:21,843 --> 00:07:26,193 reason why, you know how to make money, but not necessarily maintain it is because 134 00:07:26,243 --> 00:07:29,043 of your subconscious mind programming. 135 00:07:29,190 --> 00:07:32,600 When you don't get to the root cause of your money mindset issues, drastic 136 00:07:32,630 --> 00:07:35,380 income changes create self sabotage. 137 00:07:36,090 --> 00:07:40,880 So when you're used to having about 10k in sales or 10k in cash on hand, 138 00:07:41,210 --> 00:07:45,110 and then say towards the end of the year you get 100k in cash on hand, 139 00:07:45,360 --> 00:07:49,970 within a few months you spend it all because there's no plan on it, right? 140 00:07:50,250 --> 00:07:53,640 You, you just spend exactly what you earn because you're not used 141 00:07:53,650 --> 00:07:56,960 to having that amount in your cash on hand or like your bank account. 142 00:07:56,960 --> 00:08:00,850 You're mentally comfortable with maintaining no more than five figures 143 00:08:00,850 --> 00:08:05,490 in your business in cash, or let's say no more than a certain amount, right? 144 00:08:05,660 --> 00:08:10,740 Whatever you're comfortable with in your mind, you will continue to have 145 00:08:10,740 --> 00:08:12,700 that in cash on hand at all times. 146 00:08:12,980 --> 00:08:17,010 But when you start to expand your mind on how to maintain six figures in cash, 147 00:08:17,300 --> 00:08:21,770 you're able to expand how you're able to keep more money into your business. 148 00:08:22,720 --> 00:08:25,950 There's a deep, deep down, you might feel like you don't deserve the 149 00:08:25,950 --> 00:08:31,345 money that you've acquired in your business and you may not have healed 150 00:08:31,345 --> 00:08:34,130 the root cause of like, why that is. 151 00:08:35,000 --> 00:08:38,800 And they're always making decisions with the current mindset versus 152 00:08:38,800 --> 00:08:40,860 the one with the resolved root. 153 00:08:41,121 --> 00:08:47,071 So the root of it, reason number two is how your parents handled money, how 154 00:08:47,071 --> 00:08:52,001 you've seen others in your community spend money, but I'll get deeper into 155 00:08:52,001 --> 00:08:53,931 that, but there's a root cause of it. 156 00:08:54,251 --> 00:08:55,241 You didn't heal from it. 157 00:08:55,251 --> 00:08:58,171 So when you get money that's coming in, it's like, Oh snap, you 158 00:08:58,171 --> 00:08:59,531 know, this was a one time thing. 159 00:08:59,601 --> 00:09:02,641 I got this, that, and the third that I got to pay off when we just paid off. 160 00:09:02,651 --> 00:09:06,521 And then next thing you know, you're in the same cycle again, months later. 161 00:09:06,551 --> 00:09:10,891 And then you're just doing a bunch of cash injections in your business 162 00:09:10,891 --> 00:09:12,201 and you're running yourself ragged. 163 00:09:12,861 --> 00:09:14,811 So you know how to make money, but you also know how to spend 164 00:09:14,811 --> 00:09:16,881 it just as well, if not better. 165 00:09:17,691 --> 00:09:20,481 It might give you comfort to spend the money because unbeknownst to 166 00:09:20,481 --> 00:09:25,501 you, when you spend, you spend exactly what you have or more. 167 00:09:25,991 --> 00:09:30,311 I like to say when it comes to debt, if you have any issues with debt, we're 168 00:09:30,311 --> 00:09:34,321 not using credit cards to leverage at this point, we're using it to survive. 169 00:09:34,321 --> 00:09:39,226 So when I have clients who have debt or whenever I've faced debt in the past, 170 00:09:39,236 --> 00:09:43,406 it's like, okay, let me just stop using credit cards, handle the debt, and only 171 00:09:43,406 --> 00:09:48,681 use credit cards to leverage any points after you've healed through the cause 172 00:09:49,041 --> 00:09:54,111 of why you're, you're using debt as a crutch versus debt as leverage and 173 00:09:54,111 --> 00:09:55,461 you're in your business and personal. 174 00:09:56,111 --> 00:10:01,781 When you spend money for comfort, this may have came from your parents, right? 175 00:10:01,781 --> 00:10:05,121 When you were a kid, I don't know about you, but I was told I'm not my mom was 176 00:10:05,171 --> 00:10:06,741 not related to the electric company. 177 00:10:06,741 --> 00:10:07,691 So I turn off all the lights. 178 00:10:08,216 --> 00:10:09,336 You gotta not touch the A. 179 00:10:09,426 --> 00:10:11,742 C., don't touch the heat, don't touch nothing. 180 00:10:13,036 --> 00:10:13,846 Don't waste my food. 181 00:10:13,846 --> 00:10:19,456 Eat every single drop of your food because money don't grow on trees, right? 182 00:10:20,956 --> 00:10:23,806 So if you heard those things, it's like when you have your own money to 183 00:10:23,926 --> 00:10:25,436 spend, it's like, this is my money. 184 00:10:25,686 --> 00:10:26,896 I'm going to spend it how I want. 185 00:10:27,246 --> 00:10:28,446 I'm going to leave the lights on. 186 00:10:28,756 --> 00:10:31,076 I'm going to like that song by RB Linux. 187 00:10:31,666 --> 00:10:32,796 I just got my new apartment. 188 00:10:32,796 --> 00:10:34,086 It was me. 189 00:10:34,086 --> 00:10:34,516 Okay. 190 00:10:36,016 --> 00:10:40,951 Uh, wait, how ago I just got my new apartment. 191 00:10:41,671 --> 00:10:43,846 I can pay my own rent. 192 00:10:44,116 --> 00:10:44,956 Something, something. 193 00:10:45,226 --> 00:10:45,526 Yeah. 194 00:10:45,559 --> 00:10:46,846 So you know what I'm talking about. 195 00:10:47,996 --> 00:10:52,616 So this keeps you like the, because you're spending exactly what you have, 196 00:10:52,621 --> 00:10:56,876 it keeps you in that threshold of like having just enough or being a little 197 00:10:56,876 --> 00:11:01,676 bit behind, but you got it right and you're comfortable versus being 198 00:11:01,676 --> 00:11:03,266 comfortable living in the surplus. 199 00:11:03,926 --> 00:11:07,966 To me, the surplus is like having more than enough in your bank account, having 200 00:11:07,966 --> 00:11:11,256 at least a month's worth of expenses in your checking account at all times, 201 00:11:11,616 --> 00:11:15,996 having three to six months of, of expenses saved in your savings account. 202 00:11:16,426 --> 00:11:18,416 And when you buy things, right? 203 00:11:18,416 --> 00:11:21,096 Like say you buy like toiletries, you don't buy just enough. 204 00:11:21,096 --> 00:11:24,276 You buy like just a little bit, not excessive, but a surplus of it. 205 00:11:24,546 --> 00:11:27,326 When you live in surplus, you're able to say, okay, you're comfortable. 206 00:11:27,336 --> 00:11:31,376 Versus when you have just enough, you're always waiting for the ball to 207 00:11:31,376 --> 00:11:34,006 drop or always waiting, like, okay. 208 00:11:34,281 --> 00:11:35,701 Something's going to happen. 209 00:11:36,991 --> 00:11:43,721 So, with that, right, my approach to this is that anxiety that you're feeling 210 00:11:43,841 --> 00:11:49,291 of not having enough or being behind that should not be there for you. 211 00:11:49,361 --> 00:11:54,241 So for me, whenever, as of late, I've been reading the Bible and whenever 212 00:11:54,241 --> 00:11:59,821 someone comes to me with like any issues, or I come with any issues, I 213 00:11:59,821 --> 00:12:06,201 read the Bible and see what does the word say about what I'm experiencing. 214 00:12:06,821 --> 00:12:12,466 And whenever I hear someone talk about, Worrying about money and money anxiety 215 00:12:12,776 --> 00:12:15,156 and an unhealed relationship with money. 216 00:12:15,156 --> 00:12:20,606 I think of the book of Matthew chapter 6 verse 34, right? 217 00:12:20,606 --> 00:12:24,336 Because if you're worrying about so far in the future versus planning for the 218 00:12:24,336 --> 00:12:26,096 future, then those are 2 different things. 219 00:12:26,116 --> 00:12:30,836 So when we worry, it causes us to have these false expectations. 220 00:12:31,266 --> 00:12:35,146 Do, mishandle ourselves, mishandle our money. 221 00:12:35,536 --> 00:12:39,786 So what I like to think of is again, the book of Matthew chapter 222 00:12:39,786 --> 00:12:43,426 six, verse 34 is therefore, do not worry about tomorrow for tomorrow. 223 00:12:43,706 --> 00:12:47,166 We'll worry about its own things sufficient for the day. 224 00:12:47,861 --> 00:12:49,061 is its own trouble. 225 00:12:49,061 --> 00:12:51,981 So when working with my clients, I'm not going to promise that you're 226 00:12:51,981 --> 00:12:57,161 going to go from maybe handling four figures in cash on hand in your 227 00:12:57,161 --> 00:12:59,261 business to like six figures, right? 228 00:12:59,611 --> 00:13:02,551 I want you to work best with the money that you have right 229 00:13:02,551 --> 00:13:03,921 now in front of you, right? 230 00:13:04,211 --> 00:13:08,661 Because Who can be trusted with a little can be trusted with a lot. 231 00:13:08,661 --> 00:13:14,171 So we want to start with being tactical when it comes to handling your money. 232 00:13:14,171 --> 00:13:14,401 Right. 233 00:13:14,401 --> 00:13:15,431 You have that anxiety. 234 00:13:15,431 --> 00:13:16,841 Let's just get you to neutral. 235 00:13:16,851 --> 00:13:20,101 So for me, getting you to neutral is just kind of like. 236 00:13:20,606 --> 00:13:24,376 soberingly or just kind of objectively looking at what's in 237 00:13:24,376 --> 00:13:26,366 front of us and us doing it together. 238 00:13:27,086 --> 00:13:31,626 So getting tactical for me means we're going to uncover exactly what you need 239 00:13:31,626 --> 00:13:36,916 to pay yourself because 9 times out of 10 or 10 times out of 10, you don't 240 00:13:36,926 --> 00:13:38,186 know what you need to pay yourself. 241 00:13:38,186 --> 00:13:40,946 So you're always borrowing from your business or putting money 242 00:13:40,946 --> 00:13:44,251 back and then things are just going awry with your cash flow. 243 00:13:45,041 --> 00:13:49,571 So when we know exactly what you must pay yourself in the surplus, right? 244 00:13:49,581 --> 00:13:51,271 Not excessive, but a surplus. 245 00:13:51,281 --> 00:13:54,651 So that you're able to both not only survive, but thrive. 246 00:13:54,671 --> 00:13:59,041 That means to me that you're living off of 50 percent of your take home 247 00:13:59,041 --> 00:14:00,641 pay or we're working towards that. 248 00:14:00,651 --> 00:14:05,551 If that is currently at 80 percent or 90%, we're going to 249 00:14:05,551 --> 00:14:09,241 incrementally increase it, right so that your business doesn't suffer. 250 00:14:09,491 --> 00:14:10,971 And so that you're able to. 251 00:14:11,751 --> 00:14:15,611 Establish having more and more cash in your, personal bank account. 252 00:14:16,731 --> 00:14:23,841 So that means I want you to go from 60 or 70 to eventually living off 253 00:14:23,841 --> 00:14:27,841 of half of what you pay yourself so that the other half can be 254 00:14:27,841 --> 00:14:30,401 for doing things that you love. 255 00:14:30,681 --> 00:14:36,441 So half of your living expenses is like your fixed costs, your home 256 00:14:36,451 --> 00:14:38,661 costs your bills, things like that. 257 00:14:38,731 --> 00:14:42,741 And then the other 50 percent can be used towards like things that you want 258 00:14:42,741 --> 00:14:46,781 to do for yourself, like saving for a vacation, saving, paying off debt, 259 00:14:46,781 --> 00:14:49,751 getting aggressive with debt, putting money into your retirement account, 260 00:14:49,761 --> 00:14:51,461 your Roth IRA, things like that. 261 00:14:52,001 --> 00:14:55,681 So that you're really taking care of yourself from your business, because 262 00:14:55,681 --> 00:14:58,081 I promise you, if you're not paying yourself from your business, I'm sure you 263 00:14:58,081 --> 00:15:01,041 already know this, so there's no reason to promise, but if you're not paying 264 00:15:01,041 --> 00:15:03,641 yourself what you need from your business, there's going to be a lot of resentment 265 00:15:04,771 --> 00:15:06,811 . So yeah, let's try to avoid that. 266 00:15:07,291 --> 00:15:11,891 So knowing the tactical again, neutralizes where you are in your journey. 267 00:15:12,201 --> 00:15:16,401 And then we can then work together to shift that mindset to a positive 268 00:15:16,421 --> 00:15:20,981 frame of mind for your money so that you can face it and improve it. 269 00:15:21,371 --> 00:15:24,261 You're like, okay, we're working towards something and you're building momentum. 270 00:15:24,311 --> 00:15:29,221 When we go through uncovering what you must pay yourself, this is through 271 00:15:29,221 --> 00:15:33,434 our profit planning intensive and together we'll uncover your ideal 272 00:15:33,434 --> 00:15:37,381 salary and what I like to call the top 10 dream Life Calculator. 273 00:15:37,861 --> 00:15:40,951 So the Dream Life Calculator is a spreadsheet that shows, 274 00:15:40,951 --> 00:15:42,181 like, where you are today. 275 00:15:42,441 --> 00:15:44,661 And then there's another tab of, like, where you want to be. 276 00:15:45,041 --> 00:15:49,101 So where you are today is like, okay, here's my fixed expenses here. 277 00:15:49,101 --> 00:15:53,016 Well, here's what I want to do for pleasure or, like, Things 278 00:15:53,026 --> 00:15:55,826 like getting massages, taking care of myself, things like that. 279 00:15:55,826 --> 00:15:58,346 And this is what I want to do for wealth building and having enough 280 00:15:58,346 --> 00:16:02,366 money to satisfy all of those needs is what I want to do today, like 281 00:16:02,366 --> 00:16:03,796 your immediate lifestyle goals. 282 00:16:04,186 --> 00:16:08,206 And then the second tab is like, when you are like doing your vision board, doing 283 00:16:08,206 --> 00:16:13,596 your prayer board, you're able to then quantify that dream life so that you're 284 00:16:13,606 --> 00:16:19,036 saying, okay, if I want to buy a home and I want it to look like this, This 285 00:16:19,036 --> 00:16:20,506 is what I should be paying in mortgage. 286 00:16:20,506 --> 00:16:22,256 This is what I should be paying in my nanny. 287 00:16:22,256 --> 00:16:26,056 This is what I should be paying in like my, my chef or something like that, right? 288 00:16:26,296 --> 00:16:29,866 This is what I want to put in my retirement every single month, right? 289 00:16:29,866 --> 00:16:33,806 This is what I must pay myself in my dream life in the future versus now. 290 00:16:34,711 --> 00:16:37,971 So when we do that together, we're able to see where you 291 00:16:37,971 --> 00:16:39,481 are now, where you want to be. 292 00:16:40,221 --> 00:16:44,641 And after we get tactical, then we get, and we get you to neutral with your 293 00:16:44,641 --> 00:16:46,491 money, then we get to the root cause. 294 00:16:46,531 --> 00:16:50,321 You know, is it because of what you've experienced growing up, you 295 00:16:50,321 --> 00:16:56,111 know, in tandem, if you do have these deep rooted money trauma. 296 00:16:56,816 --> 00:17:00,456 Experiences you should absolutely be seeing a therapist, right? 297 00:17:00,466 --> 00:17:03,056 In tandem with working with someone with your finances. 298 00:17:03,586 --> 00:17:07,856 I think that's going to be really important, but we can go to the 299 00:17:07,856 --> 00:17:14,051 root cause of like, okay, you can say my mother, my grandmother felt 300 00:17:14,051 --> 00:17:15,221 controlled by her grandfather. 301 00:17:15,221 --> 00:17:18,431 So I made it, I made for certain that I would not ever feel this way. 302 00:17:18,431 --> 00:17:21,031 Hence why I feel like I'm over controlling with my money. 303 00:17:21,311 --> 00:17:22,471 That could be an example. 304 00:17:22,721 --> 00:17:24,911 Then we can work on, okay, what if we kind of let it flow? 305 00:17:24,911 --> 00:17:29,301 How can we automate your money so that you can know, lead and automate it so that you 306 00:17:29,301 --> 00:17:32,301 can also attract, enjoy, and magnetize it? 307 00:17:33,781 --> 00:17:36,711 I'll talk about that more in another episode, but that's kind of how I 308 00:17:36,711 --> 00:17:39,391 like to balance my energies when it comes to managing my money. 309 00:17:39,571 --> 00:17:40,601 in managing my business. 310 00:17:41,311 --> 00:17:45,101 So another reason why you know how to make money, but you don't 311 00:17:45,101 --> 00:17:48,291 necessarily know how to maintain it is because of the way that you grew up. 312 00:17:49,516 --> 00:17:53,906 You may have come from a single family home or your parents together, you 313 00:17:53,906 --> 00:17:58,836 know, they work two to three jobs and you never saw them complain, right? 314 00:17:58,836 --> 00:18:01,946 You, you knew that they were working extremely hard. 315 00:18:02,176 --> 00:18:03,316 They never complained. 316 00:18:03,316 --> 00:18:04,396 They worked so much. 317 00:18:05,106 --> 00:18:08,776 You got to the home, to your home as a child, latchkey kid. 318 00:18:09,606 --> 00:18:12,776 You were home making yourself dinner or taking out chicken too late. 319 00:18:12,986 --> 00:18:13,666 I, that's me. 320 00:18:13,666 --> 00:18:16,166 I took, I took out the chicken late all the time and I almost 321 00:18:16,166 --> 00:18:17,536 got in trouble every time. 322 00:18:17,786 --> 00:18:19,066 I did not know how to cook. 323 00:18:19,236 --> 00:18:20,306 Ooh, my poor mom. 324 00:18:21,576 --> 00:18:22,556 She was working. 325 00:18:22,556 --> 00:18:22,866 Okay. 326 00:18:23,866 --> 00:18:26,216 And they didn't show a lot of emotion about money. 327 00:18:26,216 --> 00:18:29,736 They didn't talk about money, but you intuitively knew that 328 00:18:29,736 --> 00:18:30,766 they were stressing about it. 329 00:18:30,996 --> 00:18:32,596 But they knew how to maintain a home. 330 00:18:33,756 --> 00:18:35,816 You never felt like you were missing out because you always had 331 00:18:35,826 --> 00:18:38,096 the latest clothes, potentially. 332 00:18:38,806 --> 00:18:42,546 And if you didn't have the clothes and you know, you felt that difference. 333 00:18:42,546 --> 00:18:42,916 Right. 334 00:18:43,306 --> 00:18:44,616 And you simply just weren't taught. 335 00:18:45,426 --> 00:18:53,996 So say on top of having experiences of financial scarcity or having, you 336 00:18:53,996 --> 00:18:56,866 know, less money or growing up in poverty, you also were not taught 337 00:18:57,216 --> 00:19:01,546 especially from your parents, nor in school, you didn't ask, you just 338 00:19:01,546 --> 00:19:03,016 simply didn't ask, they didn't tell. 339 00:19:03,466 --> 00:19:05,946 And that led to you figuring out on your own. 340 00:19:06,321 --> 00:19:10,181 And when you were able to like grow into adulthood and figure it out on 341 00:19:10,181 --> 00:19:15,241 your own, you still didn't know and you either were on two sides, you 342 00:19:15,241 --> 00:19:18,671 were risk tolerant or risk intolerant. 343 00:19:19,136 --> 00:19:20,376 Both because of fear. 344 00:19:21,226 --> 00:19:25,986 And for me, I was risk tolerant where I was able to take these risks because I 345 00:19:25,986 --> 00:19:28,396 just had, I just knew bounce right back. 346 00:19:28,956 --> 00:19:31,696 And I did, but it was like, that was unnecessary drama for myself. 347 00:19:31,696 --> 00:19:33,456 And I could have set myself up in a better way. 348 00:19:34,016 --> 00:19:37,066 So now what I would do with my daughter is I'm going to help 349 00:19:37,066 --> 00:19:39,286 her understand money, hopefully. 350 00:19:39,286 --> 00:19:39,576 Right. 351 00:19:39,796 --> 00:19:43,316 My intention is to help her understand money a bit, much more. 352 00:19:43,316 --> 00:19:43,676 Right. 353 00:19:44,356 --> 00:19:48,593 Because I do have the knowledge of it as well as help her get 354 00:19:48,593 --> 00:19:52,963 ahead, you know, having, I'm so grateful for the opportunity to 355 00:19:52,963 --> 00:19:55,133 have the ability to get her ahead. 356 00:19:55,133 --> 00:19:55,493 Right. 357 00:19:55,863 --> 00:20:01,793 And also her father also helps her, you know, is going to be able to support her. 358 00:20:02,153 --> 00:20:03,083 And I didn't have. 359 00:20:03,248 --> 00:20:04,538 both parents growing up. 360 00:20:05,038 --> 00:20:10,128 So already she's ahead of the game, ahead of me, which is, which is ideal. 361 00:20:10,788 --> 00:20:14,588 Another thing you do when it comes to like how we were raised, it's 362 00:20:14,588 --> 00:20:18,498 like, we're comparing ourselves with money, we're comparing 363 00:20:18,498 --> 00:20:22,808 ourselves and we're over consuming to overcompensate for how we were 364 00:20:22,808 --> 00:20:24,948 raised or how we feel about ourselves. 365 00:20:25,328 --> 00:20:26,478 And we're associating it. 366 00:20:26,658 --> 00:20:29,558 are monetary, are material goods for wealth. 367 00:20:29,998 --> 00:20:33,088 I was watching a show on Netflix called Black AF. 368 00:20:33,608 --> 00:20:40,581 And they were talking about how culturally, as African Americans, we were 369 00:20:40,591 --> 00:20:44,521 dressed to impress for Sunday, for church. 370 00:20:45,341 --> 00:20:49,661 And in our minds, if we, we got to a point where if we 371 00:20:49,681 --> 00:20:52,461 looked good, we had some worth. 372 00:20:52,981 --> 00:20:58,071 So, a lot of times when we are raised, and like I said before, where we 373 00:20:58,421 --> 00:21:02,021 Our parents made sure that we looked good so that we were treated good. 374 00:21:02,601 --> 00:21:06,501 That in our mind tells us that we don't, if we don't look good, we're 375 00:21:06,501 --> 00:21:08,171 not, we're not worth anything. 376 00:21:08,321 --> 00:21:12,601 And it made me think like, wow, that is something that we've experienced. 377 00:21:12,601 --> 00:21:18,441 And even before we were slaves in America and different parts of Africa, it's 378 00:21:18,541 --> 00:21:25,111 really important for people to show that they are important by how, They dress 379 00:21:25,111 --> 00:21:29,571 with like the lavish weddings or like lavish events and things like that. 380 00:21:29,911 --> 00:21:34,681 So it's like, where does it stem from that the way that you look creates your worth. 381 00:21:35,311 --> 00:21:39,561 And how can we like, redefine that for ourselves and take that 382 00:21:39,741 --> 00:21:41,971 in and like, change it, right? 383 00:21:42,591 --> 00:21:47,271 The way that you grew up and the way that you're, you know, you probably 384 00:21:47,271 --> 00:21:52,811 wasn't taught how to maintain your money or you just want to overcompensate. 385 00:21:53,141 --> 00:21:59,221 It hurts you because it caused you to perpetually make money mistakes that are 386 00:21:59,221 --> 00:22:01,341 not conducive to creating your dream life. 387 00:22:01,741 --> 00:22:05,571 It again builds comparison and even coveting. 388 00:22:05,861 --> 00:22:09,341 You know, coveting is like you're wanting what someone else has, 389 00:22:09,501 --> 00:22:11,251 what someone else has, right? 390 00:22:11,721 --> 00:22:14,981 And you're creating and growing your business on someone else's ideas and 391 00:22:14,981 --> 00:22:18,781 mind and someone else's dream versus your higher purpose and your calling. 392 00:22:19,291 --> 00:22:23,061 And you're getting out from creating a business to serve others 393 00:22:23,061 --> 00:22:24,901 where that's what a business is. 394 00:22:24,901 --> 00:22:26,471 You're actually serving others. 395 00:22:26,491 --> 00:22:29,951 You're using your gifts, your resources to help others, to serve others. 396 00:22:30,331 --> 00:22:36,414 So that in turn, the exchange is your personal wealth and doing good 397 00:22:36,414 --> 00:22:38,164 for society first and foremost. 398 00:22:38,804 --> 00:22:43,664 So my approach with this is when I think of like, how can we 399 00:22:44,139 --> 00:22:48,049 change the narrative is Romans 12. 400 00:22:48,089 --> 00:22:48,529 2. 401 00:22:48,579 --> 00:22:53,496 This is one of my favorite scriptures is do not conform to the pattern, do not 402 00:22:53,536 --> 00:22:57,926 conform to the pattern of this world, but be transformed by renewing your mind. 403 00:22:58,236 --> 00:23:02,176 Then you will be able to test and approve what God's will is, his 404 00:23:02,176 --> 00:23:04,326 good, pleasing, and perfect will. 405 00:23:04,646 --> 00:23:08,516 So to me, that means like, if I'm not conforming to what I've seen 406 00:23:09,436 --> 00:23:14,431 being done, I'm not conforming to what culture tells me is normal. 407 00:23:14,691 --> 00:23:18,841 I'm not conforming to those things where I'm comparing myself and coveting what 408 00:23:18,841 --> 00:23:22,881 someone else has, but I'm detaching myself from what everyone else is 409 00:23:22,911 --> 00:23:27,341 doing, defining my purpose and my life and for my business so that I can 410 00:23:28,491 --> 00:23:30,581 serve humanity, serve God's children. 411 00:23:31,111 --> 00:23:34,971 And making that connection with your life's purpose and your business is 412 00:23:35,041 --> 00:23:39,141 going to be important because I believe that your business should be if not 413 00:23:39,231 --> 00:23:43,611 first, one of the top vehicles to create personal wealth for your life. 414 00:23:44,231 --> 00:23:48,191 It just kind of flows because it's like, you're getting your calling from God. 415 00:23:48,901 --> 00:23:49,931 You're serving others. 416 00:23:51,241 --> 00:23:54,321 You're then able to build that personal wealth, but you're also 417 00:23:54,321 --> 00:23:55,601 giving back to those in need. 418 00:23:55,601 --> 00:23:56,741 You're giving back to the Lord. 419 00:23:56,761 --> 00:24:03,091 So it's just like all just a circle of motion of circle of life, if you will. 420 00:24:04,591 --> 00:24:08,251 So with this, you know, it goes into, I want to reiterate like 421 00:24:08,251 --> 00:24:09,961 what you must pay yourself, right? 422 00:24:10,761 --> 00:24:15,291 And it starts there with a tactical and then my approach is after 423 00:24:15,321 --> 00:24:18,411 we go to tactical we go to okay How do we plan for your future? 424 00:24:18,841 --> 00:24:23,481 A lot of entrepreneurs we do not plan for our future We do not plan for 425 00:24:23,481 --> 00:24:26,961 retirement that doesn't even exist, but I'm going to tell you it does exist. 426 00:24:27,021 --> 00:24:30,561 You do not want to be 70 working on your business online. 427 00:24:30,611 --> 00:24:34,801 You don't You might be writing a book, you know, that's cute. 428 00:24:34,831 --> 00:24:38,231 He might be going on stages, talking to people, that's cute. 429 00:24:38,271 --> 00:24:41,941 But really, you're not really going to be working at 70, at 60. 430 00:24:42,256 --> 00:24:43,206 Maybe at 55. 431 00:24:43,266 --> 00:24:43,766 I don't know. 432 00:24:44,446 --> 00:24:48,346 Maybe you might have a new lease on life and you might start something new, start 433 00:24:48,346 --> 00:24:50,136 a new project that you absolutely love. 434 00:24:50,146 --> 00:24:51,176 That's amazing. 435 00:24:52,676 --> 00:24:56,636 But what I like to do is think, I like to have clients think of where they 436 00:24:56,636 --> 00:25:00,276 want to be at 60, whether that's another business, where they're writing, where 437 00:25:00,276 --> 00:25:03,176 they're going on retreats, hosting retreats, things of that nature. 438 00:25:03,736 --> 00:25:09,961 And so that when we have your immediate goals and have your legacy goals. 439 00:25:10,321 --> 00:25:14,821 We unpack exactly the why, like what your why is behind your business so 440 00:25:14,821 --> 00:25:19,951 that you can show up in the world as in pursuit of your vision with 441 00:25:19,951 --> 00:25:23,901 these exercises of both your immediate lifestyle goals, tactically, right? 442 00:25:23,951 --> 00:25:27,061 And then your legacy goals, thinking for the future, you're able to 443 00:25:27,091 --> 00:25:29,301 unpack your why behind your business. 444 00:25:30,716 --> 00:25:33,546 When you don't know your why, the world tells you what your why is. 445 00:25:33,626 --> 00:25:38,806 And then it gives you, you'll be in the pursuit of a vision that's not even yours. 446 00:25:39,236 --> 00:25:44,996 It'll lead you to be burnt out, overwhelmed, and feeling like you 447 00:25:44,996 --> 00:25:48,726 don't measure up to someone else or measure up to success because 448 00:25:48,726 --> 00:25:52,366 you haven't really understood what success means for you or haven't 449 00:25:52,366 --> 00:25:54,746 defined what it meant or means to you. 450 00:25:55,246 --> 00:25:56,046 Okay, so. 451 00:25:56,596 --> 00:26:01,456 During the profit planning intensive, which is our 12 week coaching service, 452 00:26:01,616 --> 00:26:06,736 that's both coaching and like service where we build out your financial systems, 453 00:26:06,756 --> 00:26:10,416 help you with your money mindset, help you strategize for financial success. 454 00:26:11,006 --> 00:26:14,546 The first thing that we do during our legacy plan, again, is like, see 455 00:26:14,546 --> 00:26:15,956 where you want to be in retirement. 456 00:26:16,336 --> 00:26:19,876 What should your nest egg look like for your family? 457 00:26:20,326 --> 00:26:23,106 We get an arbitrary number and then we start working backwards 458 00:26:23,636 --> 00:26:27,226 and then we get into your business to see how it can support the cash 459 00:26:27,266 --> 00:26:29,646 needed for your future investment. 460 00:26:29,656 --> 00:26:32,206 So, just for clarity, I'm not going to tell you what to invest in. 461 00:26:32,206 --> 00:26:35,376 I'm not going to tell you what stocks, index funds, anything like that. 462 00:26:35,376 --> 00:26:37,046 But my job is to help you have the. 463 00:26:37,361 --> 00:26:39,441 The cash to invest. 464 00:26:40,571 --> 00:26:46,171 So again, I thought, well, not again, cause they might not have watched episode 465 00:26:46,411 --> 00:26:52,531 one, but whenever I think of cash from your business, I like to think of the 466 00:26:52,541 --> 00:26:54,981 cashflow quadrant by Robert Kiyosaki. 467 00:26:54,981 --> 00:26:58,581 And he talks about the cashflow quadrant just really quickly. 468 00:26:58,851 --> 00:27:02,261 First, it's like, you're an employee, you're exchanging your time with, 469 00:27:02,521 --> 00:27:04,261 you're exchanging your time for money. 470 00:27:04,591 --> 00:27:06,241 The second is you're self employed. 471 00:27:06,291 --> 00:27:09,701 So that's like you're a solopreneur or you, your service, 472 00:27:09,731 --> 00:27:12,341 you're a service provider, but you're doing most of the work. 473 00:27:12,701 --> 00:27:14,471 And then three is like your business. 474 00:27:14,521 --> 00:27:20,111 So when you have a business and your business is providing that service 475 00:27:20,141 --> 00:27:25,041 through your processes, your systems, your team, then you're able to then have the 476 00:27:25,041 --> 00:27:29,881 cash, access cash to go into investor. 477 00:27:30,161 --> 00:27:33,831 So investor is the fourth and that's where your money makes money for you. 478 00:27:34,781 --> 00:27:38,091 So just, I'd like to think of where do I want, where are my 479 00:27:38,091 --> 00:27:42,391 clients traveling from so that they can build their personal wealth? 480 00:27:42,631 --> 00:27:46,351 Usually it's self employed to business owner and that's kind of 481 00:27:46,351 --> 00:27:47,761 like where I work with my clients. 482 00:27:48,021 --> 00:27:49,981 But sometimes it's like all three, right? 483 00:27:50,001 --> 00:27:52,916 Like you're, you're going from employee to client. 484 00:27:53,256 --> 00:27:58,146 Of your own company and you're just working working and you're self employed 485 00:27:58,316 --> 00:28:01,336 you have your company but you're not paying yourself what you need to and 486 00:28:01,336 --> 00:28:05,606 you're not having your team to execute on your behalf and you're still doing 487 00:28:05,606 --> 00:28:10,146 the work while struggling to show up on sales calls struggling to have marketing. 488 00:28:10,376 --> 00:28:12,446 I'm saying all that because that's me too. 489 00:28:12,786 --> 00:28:13,356 I am her. 490 00:28:14,856 --> 00:28:18,563 So the third reason why You know how to make money, but you don't 491 00:28:18,563 --> 00:28:19,823 know exactly how to maintain it. 492 00:28:19,823 --> 00:28:22,869 It's because willpower, let me show you why. 493 00:28:23,729 --> 00:28:28,959 So you feel you ain't come this far just to come this far. 494 00:28:29,199 --> 00:28:32,759 You came this far on your own and you feel like you can continue on your own. 495 00:28:33,029 --> 00:28:34,249 That's your willpower. 496 00:28:34,529 --> 00:28:36,989 That is the deception of willpower a lot of times. 497 00:28:37,529 --> 00:28:40,901 And it basically like, up until this point, you weren't interested 498 00:28:40,901 --> 00:28:45,591 in looking ahead for your finances because in the essence, you 499 00:28:45,591 --> 00:28:46,941 felt like you can figure it out. 500 00:28:47,201 --> 00:28:51,652 Any investments in coaching, programming, delegating to your 501 00:28:51,652 --> 00:28:57,022 team is not going to help you if you do not work within your soul. 502 00:28:57,522 --> 00:29:01,852 Your willpower alone will not help you reach the success that you desire. 503 00:29:02,312 --> 00:29:03,922 Lean on your higher purpose. 504 00:29:05,102 --> 00:29:07,702 I personally lean on God and give him all of my worries. 505 00:29:08,192 --> 00:29:12,702 I also work in therapy so that I can get to the root cause and work through 506 00:29:12,702 --> 00:29:16,942 the trauma in my, in my childhood and personal life and things of that nature. 507 00:29:17,442 --> 00:29:23,042 And you start with a little bit and again, well, that leads me to say 508 00:29:23,042 --> 00:29:26,362 again, which you can be trusted with a little, you can be trusted with a lot. 509 00:29:27,062 --> 00:29:30,382 So being a better steward of your money is going to be extremely important 510 00:29:30,582 --> 00:29:35,722 when you lean on your higher purpose, not just on your willpower because 511 00:29:35,722 --> 00:29:39,212 your willpower and it has your habits. 512 00:29:39,212 --> 00:29:41,322 And if you're not changing your habits, you're just going off, 513 00:29:41,352 --> 00:29:44,732 you're just going to hit the same exact problem again and again. 514 00:29:44,732 --> 00:29:47,602 Working by your own willpower without the support of like your 515 00:29:47,602 --> 00:29:51,269 higher purpose or figuring that out working with your faith as well as 516 00:29:51,269 --> 00:29:54,519 working with the right professional can potentially keep you stagnant. 517 00:29:54,969 --> 00:29:59,044 You've probably seen yourself have the same income You're in the same income, 518 00:29:59,104 --> 00:30:02,914 income loop again and again, while your cost of living is increasing. 519 00:30:02,914 --> 00:30:05,834 The consequence of this is like you're at the consequence of 520 00:30:05,834 --> 00:30:09,174 staying on an income level is that when something happens, right? 521 00:30:09,204 --> 00:30:12,494 Because cost of living has increased, you're going to be in 522 00:30:12,494 --> 00:30:15,834 the same place and then you're playing catch up every single time. 523 00:30:15,834 --> 00:30:17,054 So we're here. 524 00:30:17,064 --> 00:30:23,529 I wrote in my note, I kept saying the scripture of who can be trusted. 525 00:30:23,549 --> 00:30:25,609 So this is what it, where it actually came from. 526 00:30:25,929 --> 00:30:32,419 So Luke 16 verse 10 says, whoever can be trusted with very little can 527 00:30:32,449 --> 00:30:34,539 also be trusted with, with much. 528 00:30:34,889 --> 00:30:40,829 And whoever is dishonest with very little is also, will also 529 00:30:40,859 --> 00:30:43,719 be very, be dishonest with much. 530 00:30:43,719 --> 00:30:46,769 So how you act one way is how you're going to act another way. 531 00:30:47,559 --> 00:30:48,969 So money doesn't change you. 532 00:30:49,249 --> 00:30:50,619 It just highlights who you are. 533 00:30:52,119 --> 00:30:58,659 What I also like to think about is when we want to think of our future and want 534 00:30:58,669 --> 00:31:03,769 to release this willpower or expectation of us getting it done on our own. 535 00:31:04,099 --> 00:31:08,189 I like to think of one of my other favorite verses, 536 00:31:09,239 --> 00:31:10,914 Philippians 4 six through seven. 537 00:31:11,344 --> 00:31:17,774 Do not be anxious about anything, but in everything, by prayer and petition, with 538 00:31:17,774 --> 00:31:20,204 thanksgiving, present your request to God. 539 00:31:20,744 --> 00:31:26,154 That has been a major scripture in my life, and that has helped me 540 00:31:26,464 --> 00:31:30,574 really conceptualize, like, how can I release the worry, release the stress. 541 00:31:30,920 --> 00:31:37,060 release the past to then lean into God's understanding or lean into 542 00:31:37,060 --> 00:31:39,960 God's will versus my own will. 543 00:31:41,460 --> 00:31:44,450 So when it comes to your future, we start with their baseline 544 00:31:44,785 --> 00:31:46,705 and their stretch goals. 545 00:31:47,225 --> 00:31:51,665 So baseline to me is when we work on your dream lifestyle spreadsheet, 546 00:31:52,005 --> 00:31:55,905 we have like, you need to make at least this in revenue so that you 547 00:31:55,905 --> 00:31:58,145 can pay yourself what you need. 548 00:31:58,675 --> 00:32:04,255 One thing that I like to use DL Sharon, she has a concept called under goal 549 00:32:04,545 --> 00:32:07,680 and under goal to me is basically interchangeable with your baseline goal. 550 00:32:07,680 --> 00:32:10,280 It's like what you must make or what you've made last year so 551 00:32:10,280 --> 00:32:13,760 that you're not wearing yourself out stretching yourself then. 552 00:32:14,575 --> 00:32:17,925 So, when we help our clients create their baseline versus their stretch 553 00:32:17,925 --> 00:32:22,815 goal, we help them create that profit plan with 2 different scenarios. 554 00:32:23,295 --> 00:32:25,075 So it lays out what they must do. 555 00:32:25,215 --> 00:32:26,850 So not only does it lay out. 556 00:32:27,090 --> 00:32:28,880 What they must pay themselves, right? 557 00:32:29,330 --> 00:32:35,070 And lays out the profit needed to be able to pay themselves and pay off debt if 558 00:32:35,070 --> 00:32:38,280 they have it and save in their business. 559 00:32:39,290 --> 00:32:44,120 And it also lays out based off of your revenue goals. 560 00:32:44,570 --> 00:32:49,126 More important, when it comes to a profit plan, you're able to have guidelines 561 00:32:49,136 --> 00:32:50,476 for your costs and your business. 562 00:32:50,866 --> 00:32:53,646 You're then able to have guidelines on what you can spend or can 563 00:32:53,646 --> 00:32:55,296 afford to spend for your marketing. 564 00:32:55,896 --> 00:33:00,256 What the guideline for your team guideline for profit guideline for 565 00:33:00,386 --> 00:33:04,166 what you're going to pay yourself and software everything under the sun. 566 00:33:04,366 --> 00:33:09,676 And more important than guidelines is understanding your cash on hand, right? 567 00:33:10,076 --> 00:33:14,406 And this is essential because you want to hit all the points when it 568 00:33:14,406 --> 00:33:16,066 comes to creating a plan for profit. 569 00:33:16,066 --> 00:33:19,586 And when you don't have a profit plan, you're perpetually and 570 00:33:19,586 --> 00:33:24,026 potentially staying in the depleted profit loop and the cashflow loop 571 00:33:24,646 --> 00:33:26,416 and your business every single year. 572 00:33:26,626 --> 00:33:29,796 We go over what should your cash look like on a weekly basis so 573 00:33:29,796 --> 00:33:31,356 that you can maintain cash on hand? 574 00:33:31,636 --> 00:33:36,226 Mind you, this does not mean that you're going to go from minimal cash on hand 575 00:33:36,426 --> 00:33:40,586 to like, 6 figures overnight, but we're going to work with exactly what you 576 00:33:40,586 --> 00:33:43,686 have because it's important for me. 577 00:33:43,971 --> 00:33:47,301 For me, cashflow management is an art. 578 00:33:47,781 --> 00:33:52,711 It's an art because I have a philosophy of like, your different profit centers, 579 00:33:52,711 --> 00:33:57,521 which I'll go into another episode, but just for, for just conciseness, 580 00:33:58,071 --> 00:34:01,821 your profit centers are increasing your profit to pay yourself, increasing your 581 00:34:01,821 --> 00:34:05,511 profit to tackle your debt, increasing your profit to save, increasing your 582 00:34:05,511 --> 00:34:09,371 profit for retirement, increasing your profit to invest, but there's an art 583 00:34:09,541 --> 00:34:14,456 engaging when and Is the right time to do each and every one of those centers or 584 00:34:14,816 --> 00:34:19,806 profit focuses so that you can maintain healthy cash on hand for your business. 585 00:34:20,306 --> 00:34:21,986 Cash is extremely important. 586 00:34:23,176 --> 00:34:24,996 So whenever you work with us as a. 587 00:34:25,276 --> 00:34:29,296 Profit planning, intensive client, or a CFO client, you get your cash 588 00:34:29,296 --> 00:34:33,046 on hand, like, you get your cash flow forecast within the 1st, 2 589 00:34:33,046 --> 00:34:34,426 weeks of working with each other. 590 00:34:34,726 --> 00:34:38,276 And we'll create that for both your business and your personal and you'll 591 00:34:38,386 --> 00:34:42,756 be able to have a snapshot for every single week for the next 52 weeks. 592 00:34:43,086 --> 00:34:46,636 So if you're someone that feels like you don't need this type of support 593 00:34:46,636 --> 00:34:48,186 and you can do it on your own. 594 00:34:49,346 --> 00:34:51,486 I felt that way too with certain things. 595 00:34:52,086 --> 00:34:54,096 Well, that can be true. 596 00:34:54,666 --> 00:34:59,086 I've also realized that the longer that I wait for support, the 597 00:34:59,086 --> 00:35:02,246 longer my process for success took. 598 00:35:02,916 --> 00:35:06,506 So prolonging, getting support with your money can potentially 599 00:35:06,506 --> 00:35:10,226 prolong accomplishing your, your immediate lifestyle goals. 600 00:35:10,546 --> 00:35:14,306 And it could also prolong your process of increasing your profit 601 00:35:14,686 --> 00:35:16,496 to accomplish your legacy goals. 602 00:35:17,996 --> 00:35:18,306 Okay. 603 00:35:18,306 --> 00:35:21,846 So now that we went through the episode, what is one insight from 604 00:35:21,846 --> 00:35:25,996 today that I shared that's really standing out for you as to why you 605 00:35:25,996 --> 00:35:29,746 might be experiencing knowing how to make money, but not necessarily 606 00:35:29,746 --> 00:35:31,556 knowing, knowing how to maintain it. 607 00:35:32,126 --> 00:35:35,356 Let me know in the comments below, if you're watching on the YouTube version. 608 00:35:35,356 --> 00:35:38,746 So we talked a bit about why you might be experiencing knowing how 609 00:35:38,746 --> 00:35:42,076 to make money, but not necessarily knowing how to maintain it. 610 00:35:42,456 --> 00:35:46,361 If you're ready to If you're ready to start with the end in mind of your 611 00:35:46,371 --> 00:35:50,041 personal finances, so that you can understand what your business must 612 00:35:50,181 --> 00:35:54,301 earn to avoid you living paycheck to paycheck, or better yet, stripe 613 00:35:54,311 --> 00:35:58,031 payout to stripe payout, you need visibility of your personal funds. 614 00:35:58,391 --> 00:36:00,981 The Dream Lifestyle Calculator helps you uncover. 615 00:36:01,326 --> 00:36:04,616 What you need to pay yourself to avoid living on a hundred percent 616 00:36:04,656 --> 00:36:09,576 of your take home pay so that you can thrive, save, invest, and 617 00:36:09,576 --> 00:36:12,366 hit your personal legacy goals. 618 00:36:13,416 --> 00:36:15,056 Go to lovelyfinancials. 619 00:36:15,056 --> 00:36:17,286 com slash lifestyle to get started. 620 00:36:17,426 --> 00:36:20,376 If you're a woman growing your business and your family and want to heal 621 00:36:20,376 --> 00:36:24,206 your relationship with money to build personal wealth and create a legacy, 622 00:36:24,446 --> 00:36:28,591 subscribe either on YouTube or wherever you listen to your favorite podcasts. 623 00:36:29,281 --> 00:36:33,291 I'm on a mission to help a hundred woman reach at least 1 million in 624 00:36:33,291 --> 00:36:37,301 net worth to create generational wealth and break generational curses. 625 00:36:37,631 --> 00:36:41,541 If this aligns with you, I'd love for you to be a part of this community and tune 626 00:36:41,541 --> 00:36:44,481 in to more episodes on harmonious wealth. 627 00:36:50,471 --> 00:36:53,621 Hey there girlfriend, if you're ready to finally have the lifestyle 628 00:36:53,621 --> 00:36:57,121 and legacy to show for your business success, I would love for you to 629 00:36:57,121 --> 00:37:00,911 click that subscribe button on your favorite podcast app or YouTube.