Money is an area few entrepreneurs want to address because many do not make any money, especially in the coaching industry. In this episode I’ll talk about why the ‘money mindset’ paradigm is creating more problems for entrepreneurs and how to expand it into a ‘wealthset’ mode to allow for growth and prosperity.
You’ll learn how you can use this expansion of mindset into wealthset and the power of your intention to turn your cash problems into cash flow.
This week’s Goals, Profits & Soul Podcast theme is about money but this is more than income and revenues, this is taking money to a new level so you look at money from a more wholistic standpoint.
This is your wealth set, how you allow your life to align with the fulfillment of your goals and values so your profits become part of your business conversation. To do that you must know what your numbers are – what is your High Vibes Wealth point?
How do you define a ‘rich, happy, and successful life’?
How much do you need to make to meet your life and your lifestyle expenses?
These numbers are too important to guess at or to think you have them right. It’s hard to be focused on your business when you’re worried about money. Sadly, the average annual income for most coaches is less than $25,000 a year. Yes there are a few at the top who say they make millions but that is not the case for everyone.
What is the problem?
I believe it’s partly because real financial training is left out of most programs offered by business coaches. They ask you to pick a number and then hope you meet it. That’s both undisciplined and unrealistic and it can lead to business failure.
That’s why my High Vibes Wealth™ Assessment is part of every business training I offer so my students establish their cash flow requirements and then set up their profit platform to meet them. This is too important to be included in fluffy ‘high value clients’ or ‘high ticket sales’ rhetoric. Without a clear cashflow vision and a profit platform specifically created to meet it, any business will be in financial trouble from the revenue roller coaster or the soul numbing work to try to meet the basic minimum goals every month.
Everyone needs a clear intention and path to generate the revenues and that is more than making ends meet. Start thinking about the lifestyle you want, the ‘extras’ you think and dream about, the vacations you want to take, the money you want to put aside for your eventual retirement or second home. Be honest, be generous, and use this as an opportunity to reawaken some of your old dreams and plans that you have put away for ‘some day’.
And start thinking about wealthset instead of mindset. We need a congruent wealth model to create real financial well-being that encompasses what makes you ‘ rich, happy, and successful’.