Today, I’m celebrating my 13th business anniversary.
Back in 2010 when I started my company, I didn’t have a website, mailing list, social media following, copious amounts of free time, or much money. Barely two nickels to rub together! But I did have WiFi, a Gmail account, and professional skills that I could package and sell to clients. Most importantly, I had desire. I wanted more for myself and my family. More abundance, freedom, peace, power, and joy.
If you read Shmoney, I know you share this desire too.
Today, I’m celebrating 13 years of entrepreneurship. I’ve taken my company from $0 in sales to five figures, then six, seven, and eight. Next, you know I’m aiming for nine!
Here are 13 lessons about business, money, and mindset from the last 13 years…
- If you want to make more money, your first move is to hire someone to do your laundry. Real talk! Pay someone to wash, fluff, and fold. You’ll reclaim ten hours every week. Use this time to brainstorm money-making possibilities and act on your ideas. You can fold undies or you can achieve exciting financial goals. Which would you prefer?
Here's what is also amazing about this: the moment you start outsourcing, you step into leadership. Learning how to clearly communicate instructions, provide feedback, coach and resolve conflict with a team member is leadership training. And you'll need to become a leader if you want to make millions.
- Having children can make you more ambitious and successful, not less so. I became a millionaire because of my four kids, not in spite of them. I wanted to provide more for my family and still do. My children are my biggest motivation. I'm proud of the life I have been able to provide for them. I remember when I couldn't afford healthcare for my family. Now I provide healthcare and whole lot more for my kids.
- Whatever you’re thinking about charging, double it. My clients are always asking me: what did you do to get to six-figures? And, what took you from six-figures to seven-figures? My answer is always the same: raise them prices. Most likely you are severely undercharging for your products and services. When you raise the price, you get way more clients and customers who truly value what you offer and you earn more for your business. Revenue is the lifeblood of any business. The more you have, the better you can treat your clients, your employees, yourself. Do it.
- It’s better to have a dream client who pays you $10k than a nightmare client who pays you $20k. The wrong clients suck up your time, keep you awake at 2am with anxious thoughts swirling in your head, and cost you thousands in therapy bills and (potentially) ugly disputes and legal fees. It's never worth it. You probably have a few clients or customers that you are making less than minimum wage on because of how much they tax you and your business systems with endless customer service requestes and more. Cut them loose and make a lot more money. Not all money is worth making.
- Become known for doing one thing. Do this one thing extremely well. Just because you are multi-talented doesn't mean you have to offer all of those talents in your business. Hone in on what your secret sauce is and let that lead you to the promise land. Save your other talents for your hobbies.
When I look back on those key inflection points that increased company revenue, it was always when I a) raised prices and/or b) simplified my offerings. The less you offer, the more opportunity you have to do what you do really, really well. Do less and become the best.
- Leap before you’re ready. You will never feel completely ready to quit your job, hire your first employee, sign a lease, or make an investment. If you feel 80% ready, that’s good enough. Hell, even 70% will do. If you’re waiting to feel 100% ready, it will never happen. Jump and you’ll figure out what to do next. Trust yourself, your ideas, your creativity, your instincts, your resourcefulness and your ability to figure it out no matter what.
- You need a group-text with friends who make you laugh in the hardest moments, and who tell you when you’re about to make a Broke Ass Decision aka B.A.D. Your squad is worth millions. Truly.
Hang with people who are doing big things, who motivate you, who encourage you, who root for you without limit, who have your back and show up for you. And then be that kind of friend for someone else.
Don't have dope friends yet? Go to dope live events and you'll meet them there. Promise.
- You will not get genius money-making ideas parked in front of your computer or scrolling on your phone. Take a shower. Have dinner with a colleague who inspires you. Travel. Go to a museum or gallery. See a movie. Browse a bookstore. Get away from your desk. That’s when you’ll get a blast of inspiration.
- Never say, “I can’t afford it.” Say, “I want it and I don’t have the cash right at this exact moment. However, give me a day and I can figure it out!” Brainstorm 20 ways you can rake coins in the door. There is always a way.
I repeat: there is always a way. Ask yourself if you are willing to do what it takes to get what you want. And then be honest with yourself.
- If you had $1,000,000 right now, what would you do with that big pile of money? Make a list: buy a condo for mom, take the family on an all-inclusive vacation, college tuition for the kids paid in full. Get excited about what money can do for you. Let this motivate you to take action on your goals now, not next year.
Review the list often. Update the list often. Close your eyes and envision the list happening often.
- At a certain point, you must decide, “Do I want to be a busy freelancer or do I want to be a CEO?” Both paths have merits. However, the freelancer path means you continue to trade dollars for hours and eventually you will be very tired and you will hit an income ceiling. Being a CEO means building a company that can operate without your daily involvement and provide greater freedom. Freelancing means you have a job. Owning a company means you have an asset that you could potentially sell for millions. There is a difference. Decide which one you want, build accordingly.
- Celebrate every milestone. The first sale. The first five-star review. The first referral from a happy customer who told their friend about you. The first setback that you turned into an opportunity. Take a moment to let it sink in. You did that.
Celebration makes the journey more fun. And you are gonna need some fun on this journey cause it's hard as $%#!
- Legacy is not just about money. Legacy is how you are remembered. It's about your mission. Your assignment. What do you want to be known for? What were you brought to Earth to accomplish? At your celebration of life, what do you hope people say about you? Decide now. Let everything you do—the way you run your business, spend your money, and treat the people around you—be an expression of your legacy, your mission.
Let that mission guide every important decision you make. Let that mission be more important than what people are saying about you on the internet. Let that mission help you make hard decisions like ending partnerships or letting team members go. Let that mission make you more disciplined.
To have passion means to suffer for something worth suffering for. What a blessing it is to have passion, a mission, an assignment in life. To do work that matters is an unbelievably beautiful gift.
In addition to these lessons I just shared, I have two special surprises just for you:
|*Business Anniversary Celebration*|
Surprise! To celebrate 13 years in business, I’m offering 2 ways to work with me and special anniversary pricing. Both opportunities are ⅓ of the usual price. Offer ends Tuesday, September 5th at 6 pm Eastern.
Want to work with me in-person, 1-on-1, for a whole day? Get your VIP Day.
Get my undivided attention, creativity, and expertise. It’s all about you, your business, and your financial goals.
Transformational, inspiring, and extremely productive, your VIP Day is an opportunity to clear distractions and work on your highest goals … with an expert coach by your side.
13th Anniversary Special: Get your VIP Day for ⅓ of the usual price. Offer ends Tuesday, September 5th.
Want to 10x your sales? Come to this online workshop (join from anywhere in the world) and let me teach you how to make it rain via live events.
13th Anniversary Special: Register for the workshop for ⅓ of the usual price. Offer ends Tuesday, September 5th.
When someone who looks like me makes millions, it demonstrates what is possible and opens the door for the next generation to walk through.
I intend to keep stacking my bills and teaching others how to do the same. We can all win together. And, the best is yet to come.