How to Separate Money

Hey Pretties, and welcome to today’s episode.

I’m sat in my office today and the rain is pouring down my window, my little office window. But I am grateful because I’m sat here in a big fluffy jumper and I have a pumpkin spice and caramel Starbucks latte and I’m feeling very wintery, and really enjoying it.

Today, I really wanted to talk to you about separating money. So I know that money is a triggering subject for a lot of people and if you find listening to me talk about money or the feelings that come up for you when you think about money being negative, then my first initial invitation is to explore that and get curious with yourself about that feeling where that comes from, and perhaps why you are feeling triggered by money as a subject. It can be very, very triggering subject, I totally appreciate that but it’s definitely one of the areas that almost every successful entrepreneur that I know or have worked with has, at some point had to overcome or change their relationship with. So it’s a really good focus that if the moment I said, this one’s going to be about money, if you’ve got an emotional response somewhere in your body, if you could feel that somewhere in your body, then make note of that, be conscious of that, be aware of it in that moment, so that you can explore where that comes from, and potentially remove any blocks or even just work in that area so that you can do the internal work that is required when it comes to that particular energy source.

Now, the reason why I really want you to do this particular subject is because recently I have been surrounded with a lot of clients, new clients, brand new people into my network, brand new people who have found me through this podcast, yeah, hey, welcome. And it’s almost like going back to basics in terms of being able to meet my new Pretties where they are in their journey and help and support them in terms of those really fundamental areas that perhaps people who have been working with me for longer have kind of got a deeper understanding of by now.

And one of the things that’s come up regularly over the last couple of months is the combination of business, earnings and success in a financial sense, being reflective of that person’s personal financial status. So here’s like the spoiler alert of all business, and all entrepreneurs that when we talk about our multiple six figure, possibly seven figure businesses, yes, I know a lot of people hate those buzzwords, like what does even six figure mean and all the rest of it. So here’s a few tips and hints. First of all, when we talk about money, we talk about it because it is a great motivator it is a great inspirator and it can be the fire underneath your tush in terms of going and doing the things that you are truly passionate about. And you know, some people will use it as motivation for other things.

But those of us who are working in an arena that is ethical, the reason why we talk about it is because it’s energy because it does create freedoms in our life that we didn’t previously have before and because we know it will be motivational for those who feel aligned to having more abundance in their life. But when we talk about multiple six figures, seven figures, multiple seven figures or whatever we’re talking about revenue, we’re talking about top amount that comes in off all of the sales in to the business.

Sometimes if you’re in the UK, we may even exchange those numbers into dollars for our American friends. There’s two reasons for that. If you’re a global entrepreneur, which obviously I am sometimes I do a bit of both so that my UK audience understand and my US audience understand the figures that I’m disclosing and talking about but also, if we’re going to be really honest about it, like deeply honest about it, it’s more in dollars. You know, it’s easier to say, I made this many dollars, and it’s a higher number. So there is a bit of that as well. But those numbers that we’re talking about, as fantastic as they are, and you know, what’s really lovely about that situation is that they are ever coming to us, we are a magnet for money, we are a magnet for that energy and it is a consistent flow in our direction that we’re open to all the time.

But that is our business finances that we’re talking about. Nobody knows what we’re paying ourselves in wages, nobody knows what those amounts for us really are. In terms of wealth, if that’s what you’re looking for, that’s not a good way for you to figure it out. Also, there’s been, there’s been this whole thing where I’ve heard people say, well, if you want to know what somebody really earns, just go and have a look online, like search them up or find out. And first of all, that’s not a good use of your time. That is you falling into competitor state, that you going through the motions of comparisonitis and that’s not due diligence.

Due diligence is when you actively find out if the person who you want to work with is legit. And you go and search people who have worked with them and gotten results and figure out whether that’s all legit. Finding out all of the information before you pass over your hard earned money. And making sure that you’re doing the right thing for you that you are really truly called to working with that person. All of those things.

Going and searching somebody up online is not a good use of your time. That’s you going digging like a private investigator and it’s not, it’s often not the truthful answer. If somebody has had multiple businesses, their business name may have changed, they may have completely reinvented themselves, they may have may have changed themselves from sole trader. And if they were sole trader, you will have never found out what they earned, they may have only just gone Limited, they may have only just been VAT registered, you just don’t know the information as well that you gain online, of course, is financial status after a business has paid out all of their outgoings so what they return and what they you know what they list and on what they do in terms of profit and taxes, and all of those things, all of those things go into play.

I’ve known businesses that have actually been in debt, and then earned amazing amounts of money. But that doesn’t show up because they’ve paid themselves and this is not a true understanding of whether somebody is successful or not. And that’s what I’m trying to get at people use this marker as a marker of success. Well, if she’s a multiple six figure business owner, she must be successful. And you know, quite often, yeah, sure. That’s a great thing to consider and hope for somebody. But you can’t find out that information from that. There’s so much more that goes into success than just that thing. And what people get confused about, especially at the beginning, especially if you sat listening to this as a sole trader, you don’t you’re not Limited yet you don’t know what you’re going to do with that thing. And you’re in that state where actually you’re not quite sure how all of this stuff works, then it’s very easy for you to look at the money that you’re earning in your business and convert it to immediate wages to convert it into a media personal income. And that is a massive, massive mistake. And the reason why it’s a massive mistake is because if you’re building a sustainable business that is going to span over multiple years, that is going to sustain you as an employee and director, then it’s not about pocketing all of the income that your business generates.

The business money belongs to the business, you as director, CEO, and eventually employee, you get a wage now that wage obviously will be directly affected by the level of profit your business is in and the more money that the business brings in, the more the likelihood of there being a nice juicy profit margin that can allow you to pay yourself what you deserve and give you whatever business life and journey that you want. It is a personal aspect of course. However, if you are looking at buying something for the business, and that could be anything, it could be a new piece of equipment, it could be a course it could be support, it could be looking for a new one to one coach or joining a programme, it might be going in having brand shoots done.  It may even be do I travel to go to that event, where I can obviously go and meet wonderful people in business and advanced myself, all of those different things, it is so hard for you to invest if you are looking at that money as your personal money.

It’s not your personal fund, that money belongs to the business and therefore making really good decisions, intentional investing, if you’ve listened to my previous podcast about intentional investing, this is where it comes in. If you’re looking to do that you’re looking to grow and uplevel your business and create a business that is actually going to be sustainable for years to come, then you need to separate the emotion from what your business expenses are, what your business income is, versus what is your personal money, what is your personal income.

Okay, there are loads of different things that if you were having to dip into your own personal income, you probably wouldn’t do for your business. Because it’s more of a risk, right? That’s your money. That’s the money that’s going to keep a roof over your head and food on the table and possibly affect what you do with your family this year in terms of holidays, or your new car, or all of the things that we have immediate personal either needs or joys, they all then come into play, they all go into flux. But if you have a business bank of money, that is not your money, it’s for the advancement of the business for you to cover your overheads and for you to continue your business for a long period of time. Then going and making the right choice in terms of investing in yourself, growing yourself, building yourself up to the next level, having those brand pictures done that you need go into that event that’s going to be fantastic for you and your learning, buying the equipment that your business needs for you to be able to uplevel.  It’s so much easier, because you’re not spending your money you are spending the money that is absolutely earned for that very reason. So that you can continue to move whatever your version of success is closer to your own energetic field to your own personal life experience. This also works when it comes to selling.

You have to try and detach yourself personally from the success or failure. And you know, if you’ve listened to my other podcast, you will have heard how fantastic I think failures are, but you will have known, you know that these things are actually not part and parcel of your personal experience. If you put something out there, and it doesn’t sell that is not on you as a person, you’re still perfectly worthy in everything you are born worthy and deserving of all the good things in life, it is no reflection on you as a person. But equally, if you make hundreds of thousands of pounds of sales, that’s fantastic for the business doesn’t make you any better than anybody else, you have to detach the emotion.

When it comes to selling, there are lots of different styles. One of the ways that I really enjoy selling is I am very, very clinical and honest about when I am presenting something to you. So I think the other thing is as well as I don’t pass things through people that don’t suit them or wouldn’t work for them. I’m really lucky in the way that I have great relationships with my clients. And often when we create packages, I can see which ones would work really well for them and which ones would support them in their next level of growth. And then from that it’s just an invitation.

Even with the giant launches that we do, we have people in mind we know the people we’re trying to support. We know the people who we believe we can help so everything is just an invitation. There is no emotional connection to the sale. If one of my Pretties comes back to me and says thank you for the invitation Dawn it’s not for me, then what they get from me is the exact same as if they’d said yes, let’s go for it, absolute love, absolute support, absolute understanding it makes no difference. I will give the opportunity. And if they are at the place where they can jump on that opportunity, then amazing. But if they aren’t, then fine. It’s not a problem, it’s certainly not an emotional thing for me, certainly doesn’t affect the relationship that I have with the person. And that is the most beautiful thing, I think, because there is, obviously so easily, occasionally, the situations where people will feel obliged, people will feel obliged to do things they don’t really want to do, because they’re concerned that it might affect their relationship or their connection or their reputation and that is an awful, awful feeling and experience to give somebody else.

And ultimately, it all comes down to how you make another person feel. But that comes from a level of the way people sell when they have a personal or a driven outcome to achieve.  Adriven outcome. Now, don’t get me wrong, old school sales practices where your income was based on some sort of target, that you would build commission on it’s very motivating. And that’s where you will get hard sell because there is a desperation behind that sales in order for the person to be able to take home a wage for themselves, right? That is so overused, and especially in 2021, which is when this podcast is being recorded. People are savvy to it, people can sniff that desperation from a mile away. And it completely closes down any open communication, it completely closes down any possible way for there to be negotiation or discussion or even for that relationship to flourish between client and coach, your client and business mentor or you know, whatever it is that you do.

So it’s really important to separate, what is money that’s for the business, what is money that is your personal money, all sales, all of the things that you do that generate income for the business. Fantastic, absolutely amazing. But it’s not for you to be emotionally invested in that area. It definitely needs to be separate and you need to be able to find that way that you can create a situation for yourself where you truly understand what those things are, and how you can step out of the emotion and look at them from a really logical and just really clear bird’s eye view.

So I hope that will help you in determining a way for you to separate your business finances, from your personal finances as that allows you the freedom to actually go and earn some excellent revenue for your business so that you can then pay yourself a wonderful personal income as well.

Thank you so much for listening pretties I hope you’ve enjoyed the episode. And until next time, I’ll see you soon.

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