S1: Welcome to business and the podcast for people making it
S1: all happen. Running a successful business completely takes over your life,
S1: but I'm a believer that there is still room for
S1: some ands like health, wealth, beauty, and maybe even some fashion.
S1: On this podcast, I'll share with you what's working for
S1: scaling my nine figure business while keeping you up to
S1: date on the latest trends, news and fun finds. This
S1: is a place for business and let's dive in. Welcome
S1: back to business. And we're talking about your payday routine.
S1: This is fun. Getting paid. Super fun. Super exciting. Super cool.
S1: But what's even more fun about getting paid is what
S1: you do with the money, and how you view that
S1: money is vital to your success as a business owner,
S1: as a leader, as a team member, as somebody who
S1: is trying to create a financial future of confidence and
S1: have a lot of trust in themselves. So these are
S1: my tips on what you do once you do get paid,
S1: and how to shift your money mindset to have a
S1: mindset that is in alignment with the type of financial
S1: freedom you are targeting for the future. I hope you enjoy.
S1: The first one is the most important. The ultimate secret
S1: to building wealth is a simple daily reminder you are
S1: broke even if you're making $50,000 a month. You see,
S1: when you start to think about how much money you're
S1: making and you get excited about the amount of money
S1: you're making, you need to reduce yourself back down to zero.
S1: The way the people who are successful think about money is.
S1: It is an ever evolving, ever changing, ever attention grabbing tool.
S1: It's something that they need to put their attention on,
S1: they need to focus on. Because if you don't focus
S1: on it, it is going to stay stuck, which because
S1: of inflation, actually means that your money is getting devalued.
S1: By fully accepting that you're broke, you shift your identity
S1: and you open yourself to take the disciplined actions that
S1: lead to wealth. This mindset creates an internal urgency to
S1: keep working, to keep building and to focus on the
S1: impact you create. The moment you start thinking you have
S1: a lot of money is the moment where things start
S1: to go awry. If you're like me, who thought she
S1: was rolling in dough when she dropped out of college
S1: and had $3,500 in her bank account? You are mistaken.
S1: There is no real security in the money that you have.
S1: The security that you have is in your ability to
S1: earn money. The amount of money you have today is
S1: based off of yesterday's work, so the only way to
S1: truly create financial freedom and security is to have so
S1: much confidence in what you can create today that would
S1: allow you to make an impact on your bank account. Now,
S1: yesterday's money is fantastic. Let's say you made $5,000 last month.
S1: That's awesome. Your target for this month should be $10,000
S1: because you're broke. The money that you created, the wealth
S1: that you have, the work that you did is already over.
S1: And it's crazy because I have watched people who have
S1: made the exact amount of money that they could have
S1: only dreamed about five years ago, within a couple of days,
S1: maybe at most. A couple of weeks start to get insecure.
S1: And the insecurity comes from the fact that they are
S1: no longer doing what's required to create wealth. And as
S1: insecurity creeps in, you start to constrain, you start to doubt.
S1: You start to take less risks instead of truly being
S1: at a place to have financial freedom. So yes, you
S1: are broke. There's no shame in being broke. The only
S1: shame in being broke is by thinking that you're not
S1: actually broke, because now is the time where you need
S1: to take action in order to get unbroke. Next is
S1: number two. Most people never think with big enough numbers.
S1: How much money could actually change your life? Have you
S1: ever thought about this? Forget where you are today. Is
S1: it $5,000 a month? Is it $10,000 a month? Is
S1: it $50,000 a month? $100,000 a month, $1 million a month?
S1: What is the number? Because if you aren't clear on
S1: the number, I promise you you're never going to get
S1: the number. A wild thing happens when you really do
S1: the math with large numbers, because you will figure out
S1: very quickly that what is required to get you to
S1: where you want to go is entirely different from what
S1: you're doing today. And we've already gone to zero because
S1: we now know that we're broke. As long as we're
S1: clear that the actions we're taking today are creating this
S1: broke state, we have a lot of control, because what's
S1: required then is to just act differently. Today. If you
S1: are currently making $5,000 a month and you think $50,000
S1: a month would be life changing, game changing money for you, amazing.
S1: How do you ten x the output? Now, if you
S1: work in an hourly job, I can promise you that
S1: you just ten x amount of hours that you work
S1: in a day doesn't work, because that math doesn't math.
S1: You'd have to be spending your time in more valuable areas,
S1: solving more complex problems with greater skill set in order
S1: to earn ten times more money. So it becomes very
S1: logical from there. What do I not know that somebody
S1: who's making $50,000 a year does know that I need
S1: to learn and be able to execute flawlessly at. I
S1: know it's hard enough to confront that you're broke. But
S1: while we're confronting that we're broke, we might as well
S1: just confront the missing skills, the missing education, and the
S1: incorrectly spent time that is just out of alignment with
S1: your goals. When I was making $55,000 a year at
S1: a job that I hated, I will never forget when
S1: one of my team members who was interning in the
S1: accounting department let me know that one of the C-suite
S1: executives made $1 million a year. And I thought to myself,
S1: what is he doing? And what does he know that
S1: I don't? Because when I talk to this individual, he's
S1: not that much smarter than me. He is certainly not
S1: a harder worker than I am, and he's only a
S1: handful of years older than me. So what am I missing?
S1: Because I want to be making $1 million a year,
S1: not making $55,000 a year. And as soon as I
S1: found out this number, I just started to watch this man,
S1: how he communicated, how he showed up to meetings, the
S1: way that he presented himself the projects that he was
S1: working on, and I recognized the way that he engaged
S1: was entirely different than the way I engaged. He engaged
S1: in a way that took full ownership and responsibility. I'll
S1: never forget watching him in a meeting where he walked in.
S1: He had no context to what we were talking about.
S1: So I thought, and within 2 or 3 minutes, he
S1: was entirely shifting the direction of the meeting to go
S1: in alignment to the vision that he had. And it
S1: was wild because he technically didn't even know what we
S1: were talking about. But he did because he had full
S1: ownership and full responsibility of driving that initiative forward. So
S1: when you find that you're not getting paid, what you
S1: think you should make fastest hack is to get in
S1: proximity to somebody who is making that amount of money
S1: and watch and compare how they show up versus how
S1: you show up. Stop treating your paycheck like a prize.
S1: It is your tool. Your income is your tool for
S1: you to be able to have access to opportunities in
S1: the future. And if you think of it like a prize,
S1: you're going to think that you won something. you have
S1: something to go celebrate about. There's no celebration in your paycheck.
S1: You use your paycheck to fuel where you are trying
S1: to go. It is the greatest tool that you have
S1: in securing your financial future. Why? It gives you access.
S1: You do not use money as if it is burning
S1: a hole in your pocket, just ready to be spent
S1: as soon as you earn it. You see, I've had
S1: this mindset from a very young age. At first, when
S1: I dropped out of college and had $3,500 in my
S1: bank account and thought I was rolling in dough, I
S1: all of a sudden realized how expensive the real world is.
S1: And that realization hit me about a month after I
S1: left school. How much bills were utilities were my car payment,
S1: my insurance, and all of a sudden I had a
S1: rude awakening that I was broke. And I kept this
S1: broke mindset for a decade. When it came to stocking
S1: up on toilet paper, I would buy one roll of
S1: toilet paper, one box of Kleenex, one thing of shampoo
S1: and conditioner, and it wasn't the nice stuff that I
S1: used today. Why? Because I needed to conserve my money.
S1: Because I recognized that it was the tool for my future.
S1: It was not something that I just wanted to blow
S1: and have instant satisfaction around today. Every dollar mattered, and
S1: I did have quite a bit of anxiety about my
S1: ability to stack up cash. Your ability to get this
S1: discipline in, especially when you're young, sets you up for
S1: success in the future because you can trust yourself with money.
S1: If you can't trust yourself with money, you will never
S1: have lots of money because people who have lots of
S1: money know how to use money. If you're the type
S1: of person that every time you get it, it goes
S1: out the door and you spend it, you do not
S1: have the self-control for your own impulses, for the world
S1: to trust you with giving you their money. Why? You're
S1: just going to go spend it. You're going to waste it.
S1: You're going to blow it. First is the person who
S1: has discipline and has enough of a long term perspective
S1: to be able to have money so that they can
S1: use it in moments when opportunities present themselves. This is
S1: probably TMI, but I still have this conservation mindset. Now,
S1: do I have enough money today to afford as many
S1: razors as possible? Yes. But in my mind, growing up,
S1: razors were expensive. And so you didn't want to replace
S1: razors very frequently. I would go six months without replacing
S1: my razor, and it would give me razor burn and
S1: all the cuts, because the blade was dull and I
S1: didn't want to spend more money because I thought razor
S1: blade heads were really expensive. And it wasn't until my
S1: husband finally said, Natalie, why do you use the razor
S1: over and over and over again? When I realized that
S1: he actually gets rid of his razor every single time
S1: he uses it, compare contrast. And I realized that I
S1: had this scarcity mindset. This scarcity mindset gives me a
S1: lot of confidence in myself. The mindset is to use
S1: your paychecks to get ready for the next opportunity. You're
S1: never going to be ready if you just blow through
S1: your money, and it's important to try and keep your
S1: living expenses as low as possible. Not spending frivolously, not
S1: taking on large payments. You think of your paycheck as
S1: a launch pad for future growth and investments? Pay the
S1: price today so you can pay any price tomorrow. Is
S1: so grounded in this idea of financial discipline. What is
S1: required of you today? In order to create the future
S1: version of you, you are going to have to make sacrifices.
S1: There's not a single successful person on this planet who
S1: has a significant amount of financial wherewithal that created it themselves,
S1: didn't make sacrifices. So what sacrifices are you willing to
S1: make today? And if you are the type of person
S1: who is serious about their goals, what's so cool is
S1: it's pretty easy when you put it in this context
S1: to say no to the Uber black or the lip gloss,
S1: or to the fancy dinners, because if that's all that's
S1: required to have discipline and to create confidence in yourself
S1: that you are building into the future that you want,
S1: it's not really that hard. So pay the price. What
S1: is the price that you have to pay today if
S1: you open your bank account up right now? I have
S1: a feeling that you could find a handful of areas
S1: where you need to pay the price and have a
S1: season of scarcity. Are you willing to go through six
S1: months of scarcity in order to build the habits and
S1: the discipline of somebody who, you know, in the future,
S1: has full control over where they spend their money? How
S1: much is in their bank account and their ability to
S1: create on opportunities. The answer, when you put it so simply,
S1: is of course I am. That's an easy layup question.
S1: So then start acting like that today as you open
S1: up your bank account. What areas do you need to
S1: have the sacrifice? So imagine that you're writing a book
S1: about yourself. Future. You is able to talk about this
S1: time where you went through scarcity, this time that you
S1: created sacrifice, and you can point people to how necessary
S1: it was for you to cut out certain luxuries. And
S1: it kind of romanticizes the whole thing. Now, does it
S1: feel romantic while it's happening? Of course not. But your
S1: ability to tell the story and figure out ways to
S1: sell yourself on why the sacrifice matters is important. So
S1: mock up whatever the story is. Imagine you're in front
S1: of hundreds of thousands of people in the future, and
S1: you talk about the time where you had to sleep
S1: on the floor, where you couldn't buy people Christmas presents,
S1: where you worked 20 hour days. So what kind of
S1: story do you want to tell? You see, sacrifice isn't
S1: always about deprivation and starving yourself of great things. It
S1: is about alignment with the future that you're building. So
S1: choosing discipline over indulgence is what builds the character, the confidence,
S1: and the cash required to level up your life. Lastly,
S1: number five financial dependence kills trust and your power. No
S1: one is coming to save you, including your future partner. Now,
S1: this is for all my ladies out there who think
S1: that they don't have to learn these lessons because somebody
S1: is just going to come into their life and they
S1: are going to take on the financial responsibility in the relationship.
S1: Even if you find somebody who is more financially well
S1: off than you are. You do not want to ever
S1: be in a position where you feel like you are
S1: dependent upon somebody. And Furthermore, there's nothing better in a
S1: relationship than having the trust between two people that both
S1: parties can be trustworthy with money. What I mean by
S1: this is think about your future spouse here for a second.
S1: Do you think that they would be excited to list
S1: out this quality of yours? That you always buy things?
S1: Whenever you have an instant urge? You have no ability
S1: to be disciplined and you spend frivolously. No partner is
S1: jumping up and down to be with that person unless
S1: they are trying to take control of you. If you're
S1: okay with somebody controlling you in this way, it's probably
S1: a different video. But if you want to have a
S1: lot of confidence in yourself in your future relationship, you
S1: have to take responsibility. Your finances today because no one
S1: is coming to save you. Even if they do have
S1: more resources than you, you have to create the position
S1: that you are able to take financial control at any
S1: point in time, which would mean learning this discipline today.
S1: Knowing your finances and having financial discipline isn't just smart,
S1: it's super sexy. It builds trust. It builds influence, and
S1: it builds power in your relationships. If you want to
S1: be with somebody that has a high level of trust
S1: in you, you have to be a person worthy of trust.
S1: So do your spending habits reflect that you are trustworthy?
S1: If they don't, how do you fix that? So the
S1: person that you do end up spending the rest of
S1: your life with actually trusts you. So treat your paycheck
S1: and your finances with the value that you give yourself.
S1: If you enjoyed this podcast, you are going to definitely
S1: not want to miss out on my new newsletter. It
S1: just dropped. I just started creating this content and I
S1: am obsessed. Every single week in your inbox I am
S1: going to send you business and which is exactly what
S1: it sounds like. How do you fit business and all
S1: the other things in your life so that you are
S1: up to speed on fashion, beauty, wellness, all things that
S1: really matter. If you want to subscribe and get this
S1: special gift and weekly treat in your inbox, go to
S1: Carmel Ventures.