Are you a Magician?

It is important get a hold of the purpose of the Entrepreneurial Power Personas. While you could see that “I am this but not that” or “that one is good and another is bad”, instead, listen for what you don’t know that you don’t know. Your Entrepreneurial Power Persona reveals your go-to approach to business, relationships, money and life. You have seen and heard some things you haven’t thought about before in these posts. Your purpose is to begin to identify some very powerful things inside yourself as an entrepreneur that are both serving your business and hindering it at the same time. To get access to ALL of the Personas right away, click here. Entrepreneurial Power Persona #4 The Magician As The Magician, you are confident in your ability to create the life and business that you want. You are probably spiritual and feel energetically connected. You live more in the possibilities for the future than in the present. It’s likely that you focus as much on personal development as you do on your business and the numbers follow. As a Magician, you use your sense of purpose to guide business. You fear being inauthentic and you focus on being true to yourself and your purpose. Benefits of the Magician You thrive, Magician, in your unshakable belief in the possibilities for you and your business and your trust that it will all come to pass. Personal development gives you focus and you bring the learning into your business. When things are going well and you feel like you are in alignment, you can manifests money and opportunities easily. You...

She Had A Revenue Problem

Janelle, a client of mine, came to me about making some decisions around her money. We scheduled some time and took a look at her business and personal expenses. What she was spending seemed pretty reasonable considering her location, business set up and family size and situation. Janelle still was spending more than she had and was going backwards every month.  I said to her, “You don’t really have a spending problem, you have a revenue problem.” Eight out of ten of businesses just don’t make it. They struggle with fluctuating revenue and revenues that are just too low to sustain the expenses required to run the business and the family. There are two ways to resolve the problem: 1. Spend less. It is always a good idea to check in on your spending to see if you have money going out that isn’t necessary. Look for spending that isn’t revenue generating. Make sure you don’t cut back the marketing dollars – you need to spend those to bring in more clients. 2. Make more. This is always the method of choice, and sometimes business owners forget that they have the power to make more money. You are in a unique position compared to those who work for a paycheque. You can choose to make more. Charge your business with the task of making the money you require to fund your life and your business and then do the work to make it happen. Janelle and I looked at her revenue streams and at the challenges she was having. Being really open to new ideas, Janelle and I spent...

An extravagant life

Most of my clients have said this to me at some point in our work together. You may have said it or thought it yourself. Shelley and Brian were frustrated with juggling hockey fees, camp dues and property taxes in a month where the business revenues were lower than they had hoped. They decided it was time to get their money sorted out once and for all. They said to me “We make good money, I don’t understand why we are always struggling – we don’t live an extravagant life …” I said … yeah you do. I wasn’t being mean – I was being honest. OxfordDictionary.com defines extravagant as: Lacking restraint in spending money or using resources; Exceeding what is reasonable or appropriate Shelley and Brian aren’t alone. Forty percent of Canadians are living an extravagant life. – they are spending more than they are making. Another 20 percent live close enough to the edge that a late paycheque or a low revenue month makes them nervous. Are you living an Extravagant Life? Find out by answering these three questions. How much do we earn? Be clear on how much income you are bringing into your household. As a business owner, the total revenues you earn are not all available for your personal use. Taxes, business expenses and business investment must be accounted for. How much do we spend? Be clear on what your life costs. Consider not only the monthly expenses, but the fixed and variable expenses that come up during the year. Items like car repairs, gifts, gas and spending money for trips to the in-laws, vet...

Everyone Has a Drug

Everyone has a drug of choice. It’s the way you self-medicate. A way you try to fix what is wrong or missing. A way to fill an empty hole inside that everyone has. Your drug of choice could be food, alcohol, sex, surfing the internet and even exercise. For many, it’s spending money. Buying things, experiences, people…whatever it takes to fill that empty hole. Spending was my drug, and it could have happened any number of places. I attempted to fill my empty hole by spending $80,000 on coaching. It actually started off great. I made a decision to join a program and I learned a lot. In fact, I would make that decision again. It kicked off my business. And then, things changed…well, I changed. I started to use it as a drug – to fill the void of my own dwindling confidence, to buy an image of what I thought I should be. I stopped trusting myself. I was trying to buy salvation. I lost myself…and found myself in the process. This conversation I began last week sparked a shitstorm. People I’ve known for a few years have stopped communicating with me. Others have responded to me with various feedback, including the many reasons why this conversation is both confrontational and offensive. Many of my colleagues are taking my message personally. I have a message for them and for you, which is that the conversation I started has nothing to with any particular industry. This conversation is about MONEY – how you are spending it, where you are spending it and what you are telling yourself about...

Jeff felt like a failure

When he was a little boy and her brothers were teasing him, or he fell off his bike, Jeff’s Mom gave him a handful of change and sent him to the store to buy something for himself. Some candy or gum distracted him and soothed the hurt. As he grew, the hurts got bigger and the coins turned to dollars. Jeff felt like a failureWhen I met Jeff and his wife, they had great jobs and earned over $250,000.  Jeff was frustrated because they were in debt again. They had diligently paid down their line of credit three years ago, and it had grown back to $45,000.  They couldn’t figure it out – they felt like they were responsible, and they knew they made good money. Why was their debt increasing? Jeff felt like he was failing again. There is the way you DO money – how it moves through your house, your accounts, your business. Then there is the way you BE with money – what you tell yourself about it, the patterns and habits you have around it. In our conversations about how Jeff and his wife DO and BE around money, we uncovered Jeff’s story about money from when he was a kid and recognized the pattern he created. Jeff was distracting himself from hurts with buying things – new shoes, work out equipment, house things.  He was also using the same pattern to to soothe his wife’s hurts with gifts. Jeff’s story is one example of patterns that we run around money. What patterns are you running? How are you DOING and BEING around money?...

What Ice Rescue Has To Do With Money

Practice. I was met with this spectacle on my drive into town. Mesmerized, I pulled off into the parking lot and watched as these brave (crazy?) men and women practiced what they do. Practice is the key to being successful at any task or skill set. When we practice regularly, we become highly competent and able to do the job when things get tough. These people rescue others from the cold waters of lakes and rivers. Working as a team, they need to know what to do to stay safe, and to keep safe the person in need, in a really challenging environment. They are highly effective in an emergency situation because they have practiced and practiced, building knowledge, skills and resources.. I sat there watching, and it made me think of how many people could benefit from practicing their money. So many deal with money in a ignore-panic cycle. You ignore your money until there is a crisis and then deal with whatever comes up in a panic, and then go right back to ignoring it. What would happen if these rescuers did that? Imagine – they are called up when there is an emergency, and they try to figure out what to do while the pressure is on. How competent do you think they would be? How confident would they be? How effective would they be? That is the exact opposite of what I saw on the ice. What if, instead of ignoring your money, you practiced working on your money regularly, when there isn’t a crisis? You would learn the skills and resources that would make...