The Key To Jealousy By Kate Caddle When we compare ourselves to others, the issue isn’t in noticing the difference between the other person, and ourselves. We hit discomfort because we give away our power. And when we give away our power, we lose connection to...
Embrace the joy of financial freedom.
by Sarah McVanel
We all have our own reasons for seeking the life we want and dream of our ideal life but before I talk about the financial freedom part of this important article, I want to briefly share my personal story of personal and financial freedom. My why.
One of my kids at 10 years old, had a mental health crisis. It had been building for a while, instigated by external factors that were beyond his, and apparently our control. These factors ruined his mental health, distracted him from core learning and isolated him socially.
He was bullied.
My husband and I knew we had to get him out of that situation, but we were in debt up to our eyeballs. We had bought a cottage so our kids had a therapeutic environment, in particular, our child who was struggling, and we had a house, two cars…yes, a lot of debt. Feeling completely trapped in debt and worried my child would survive this, we struggled to find a solution. A drastic change was required if my child was going to survive.
We sold our house and cottage, moved to a new community and dissolved our mortgage. I quit my job and started my own business to be able to have the flexibility I needed to be there for my family. It wasn’t easy. Through hard work, sacrifice, and with the number one focus of our kids’ wellbeing in our minds, we created a life of freedom and choice that we never had before.
Fortunately, family life has improved and over the past four years. Starting my business three years ago, I never could have imagined it would have already grown to six-figures! But how? That’s what so many folks ask me.
Part of why I’ve been able to build a successful business is because I have no fear whatsoever. The fear was the status quo where my child’s mental health and possibly life was at stake. Any mistake or failure in business paled in comparison. Amazingly, by being clear family was first, business thrived. I attract clients who also value this. They understand if I need to reschedule from time to time (as I understand when they do). And some identify with this philosophy that they hire me to help them achieve the values-aligned professional career or business.
Basking in Freedom
I never appreciated the importance of financial freedom until I had it. I always expected you had to have debt in middle age but really, it was the rat-race I was so caught up in, I couldn’t see I had options. To know that you have the ability to adjust your business to make it as small or as large as you need to so you can adjust to what your family needs, is priceless.
In my business, part of what drives me is making sure that in my business account, I always have money. That’s how I keep the power over my business versus my business owns me. I’ve never taken out a penny of a loan. I’ve always done the work myself until I can afford to hire somebody. And now I invest in other people who can do things more efficiently and better than I can, so that what I’m able to offer my clients is the gift of my presence, superior value and exceptional quality.
Now by this point, you may be wondering, why are we talking about financial freedom and getting over the fear of failure when it comes to our finances in One Tribe Magazine?
A common theme in my coaching practice with professionals, intrapreneurs and solopreneurs is fear of failure. Fear blocks us, frustrates us, and gets our gremlins ready to pounce. It holds us back from pursuing our passion, living big and bringing our greatness to the work in new ways. It stops us from asking for what we’re worth, being selective of where we spend our time and for whom. Fear can easily become the puppet master and therefore we become the puppets.
If you are an entrepreneur or aspire to one day be one, the fear that your business will not be financially viable is common. Some of the people I coach and work with have taken out a business loan or a line of credit that seemed rather benign at first, but a lack of revenue coming in makes it feel like that loan will never go away.
For many, it prevents us from doing things that allow us to live into our best life. That it’s shutting down our dreaming. Fear is there to help us, but for many, it’s on overdrive. That’s why today I want to share the best strategies I know to combat fear head on and help you gain control of your fear and finances:
Tip 1. Get out of debt
Yes, that is obvious, however, in Canada like many first-world countries, the average citizen spends about $1.60 for every dollar that they bring in. The number one thing we need to consider is, how do we reduce our expenses before we can even begin to think of how we bring in and increase revenue?
The great thing about this is, it helps us to get other aspects of our life that may not feel financially in order, but also it gives us a sense of control over our lives and freedom to make a choice that we don’t feel when we have debt.
Tip 2. Increase your revenue
There are many easy ways that you can increase your revenue, the point being, you don’t have to make huge bank. In the past I’ve shared 10 ways entrepreneurs can generate revenue within a month (jump over to my YouTube channel to check it out).
You just need to get started because your success will change and activate those achievement centers in your brain and turn on your creativity. You’ll get curious about what it was that worked about that last thing you did and if you’re making small improvements, one step at a time, then it’s going to allow you to be able to see what works and what doesn’t.
Tip 3. Know who you serve
Maybe you’re like me. That you just want to serve. Serve, serve, serve the world! So many people would benefit and be indebted to you for your message. Perhaps that is true, however, if you are trying to serve everybody, you serve nobody.
“You can’t please everyone, and you have to trust your instincts, and you have to do your work and throw yourself in there and trust your instincts, and just trust that you’re doing a good job that I can be proud of as well.” ~Matt Ryan~
Who specifically needs to hear your message, receive your products and your insights? Who do you want to serve? Who do you want to spend the most time thinking about so you get into their head and design products and services just for them? Spend face-to-face time with them and build your business to scale up to serve them even more.
“Well why would anyone pay for my services if they can get it for free?” The old thinking that “content is king” is dying on the vine now that so much is free – articles, videos, books – so it’s about adding huge value now so that folks are left thinking “if this is what I get for free, imagine how much I’ll gain from working together!”
Tip 4. Be an expert
If there’s one thing you could do to serve people for the rest of your life, what would it be?
For me, it’s recognition. I truly, passionately believe that recognition and the exponential power of leveraging it within yourself and others creates breakthrough results in life and in business.
What are you an expert in and do you know the benefit of it? People can refer you now. They know what you do versus everybody else that is doing something similar to you.
Put your own unique value and spin on it so that you can be an expert in that space. When people have that problem, that issue that you’re solving, people say, “Ah-ha! I know the person you need to go to.” People begin to come to you.
Tip 5. Leverage your network
There are people who are your raving fans. People who would love to refer you, to work with you, to hear more from you, to read your books, to read your blogs, to talk with you, to have coffee with you, to bring you into their organization, to buy your products and they don’t need convincing.
Make the referrals easy because it’s pretty darn hard for them to be those raving fans if you’re not absolutely clear what you offer the world, that you’re available, and that you’re ridiculously easy to work with.
Tip 6. Be ridiculously easy
to work with
If you have cumbersome processes, if people can’t navigate your website, if they don’t know how to get in touch with you, you take a long time to get back to them, then you’re going to lose business.
Create systems and processes before you even have your first client. Systems that make you easy to work with such as, calendar, software, a consistent habit of checking and responding to your emails, a simple website where you don’t have to click several times to get to the good stuff, but also just a philosophy of being the most service oriented person who serves your target market and who addresses that particular issue for them.
I hope this has provided some food for thought to you and some insight into your own greatness and what you can bring to the world. And if you’re curious about more, I’ve created a juicy little book that I’m happy to send you called #GreatnessBizHacks: 100+ Tips to Grow a Profitable Service-Based Biz You Love! Just drop us a line at email@example.com and we’ll send you a copy. Fear not my friends! Your bountiful greatness is needed in the world…and people are willing and ready to pay for the privilege of working with you!