Q1: Why did you decide to start a coaching business?
When I went through my divorce ten years ago, I went through a very dark stage in my life. The way I got through was reading everything I could on self-help. I read a book every two weeks for years. I became certified in my newfound skills and I honed them. It started working. I realised how powerful the mind is and how our perception of the world and our surroundings shapes our reality.
While I was going through this life changing event called divorce, for the first time in a very long time I had to manage my own money. Even though I was a finance professional (I’m a Chartered Accountant and former Financial Advisor), I struggled. I procrastinated, I sabotaged, I felt stuck. Even though I knew what to do, I felt an emotional resistance to moving forwards.
It was then that I realised that money is actually emotional. I’d go so far to say that money is 80% mindset and only 20% mechanics.
For the first time, I understood now how the clients from my accounting days must have felt. Money was always so simple to me when it was about someone else! When clients came to me already overwhelmed and unfamiliar with the language of money it’s no wonder they found it so difficult to follow my advice, no matter how simple and clear!
It’s like hiring a personal trainer to get fit. We all know how to get fit, just exercise more and eat less. But in reality, it’s never that simple. We sabotage. It’s not the mechanics that are difficult, it’s the mindset. Your ability to think clearly and rationally.
Instead learn to see the best rather than the worst-case scenarios. Have gratitude for where you are now. Forgive your past mistakes. Trust that you already have everything you need to bring your dreams to life.
A coach helps you get your head in the game and get out of your own way in order to achieve your goals whether they’re financial, health or relationships. A third party you can trust like a certified coach brings perspective. When you’re in the box, you can’t see the label on the outside. Your coach gets the full picture.
~Business Game Changer Special Promotion~
Q2: How does your business differentiate itself from other coaching businesses?
My business focuses on women – how to become more confident and empowered around money. I do this by integrating not only traditional finance tools but also mindset and feng shui. I’m a holistic finance coach and mentor to women. There’s not many others out there with all three skill sets like me. They’re usually one or the other (finance or mindset). I’m a rare breed.
I attract high vibe women ready to do the work and get results because I work from my own zone of genius. I’m passionate about the power of feng shui and energy tools. I also have plenty of experience in finance. I’ve played to my unique skill set and it works.
I do money the feminine way. I teach women how to tune into their own intuition when it comes to making financial decisions. I help them uncover limiting beliefs they’ve accumulated throughout their life about their ability to attract, manage and grow money. I also teach them the classics of how money makes money.
Q3: What are the most common problems faced by women starting or running their own business and how can these problems be overcome?
Fear of being seen. If you want to be successful, you must have the courage to be seen and to voice your true self. For thousands of years, women have been taught to keep quiet and not bring attention to ourselves. It wasn’t safe 70+ years ago for a woman to be financially independent, strong and empowered. She was seen as defective and not a real woman. It’s safe to come out now but years of conditioning over many generations takes time to clear.
The first step to overcome any block is awareness. Once you shine the light on your doubts and fears, only them can you clean or clear them. I work with my clients to excavate the stories that have moulded their expectations around financial lack and negatives beliefs. They usually were absorbed during childhood. They usually related to their parents’ fear and worries and their parents’ fears and worries. Once you clear them, it’s liberating. You create space to step into your own power. You become who you were meant to be.
Another common problem is women’s need to nurture others. They may feel bad for charging their worth and sabotage by unnecessarily discounting or bartering. Again, this all goes back to generations of conditioning of women to play small and safe rather than be daring and trusting (the necessary traits for entrepreneurs).
Q4: What are the key elements of a successful business?
To make money – even charities need to make money, it’s nothing to be ashamed about. It’s naive to think that you’re only in it to help others. We all need money to keep a roof over our heads and provide basic needs. Your reach becomes much farther once you have a sound financial foundation for yourself. “Make money, change the world” is one of my favourite sayings because it’s true!
To add value – In order to make money without guilt, you simply need to find a way to add value to people’s lives. Money is the energetic trade-off you receive for your service or product. If it’s out of balance, it will FEEL wrong. Listen to that.
To know your why – you’ll run out of steam if you don’t have an authentic north star that drives you. Your customers need this too! They want to know what your brand stands for. People buy brands not things. They want to be a part of something that makes them feel good. Identify your business’s why and it’s values. Every time you offer a new product or service ask yourself whether it aligns with your why and values. If it doesn’t, it’s not your thing!
Know your numbers – Not just the vanity ones like social media followers or sales. These are irrelevant if you’re not making a profit! Remember, we’re in business to make money. You can’t save the world if you’re drowning in losses. Understand how to read a Balance Sheet and Statement of Profit. Prepare cashflow forecasts for at least 12 months ahead so you know where your seasonal peaks and troughs are. This way you can plan your expenses. Accounting tools are powerful when you understand how to use them.
FACT: Your business bank account is not your profit. Your profit is determined by your Statement of Profit (i.e., sales less expenses and taxes). The timing of these sales and expenses are not accounted for in your bank balance. It’s dangerous to assume that just because cash is there it’s available to be spent. Look ahead first and see what’s coming up.
Scale – Once you understand where your most profitable areas are in your business, you can learn how to scale your business with less effort. This is the gold. There’s always a way to do business better. The internet has opened the channels for massive wealth without effort so work smarter not harder. Making money doesn’t have to be hard. Think BIG.
Q5: How should women business owners face the fear of failure?
Fear preys on the unknown. So, get to know it! Look that fear straight in the eye and write-it-down. It’s scientifically proven that your brain can assess information better when it’s on paper rather than swirling around in your head. Start by asking questions such as:
- What’s the worst that could happen?
- Is it really true?
- How can I mitigate this?
- What’s the best that could happen?
- How can I enhance this?
WRITE IT ALL DOWN. Trust me, this works.
Q6: What three pieces of advice would you give to a woman planning to start her own business?
Market research – Identify your customer avatar, then go out and interview her! Do as many interviews as you can. You may find that your business idea turns into something else altogether. It doesn’t cost anything to interview. It costs a hell of a lot more to find out you don’t have a market for your product after you’ve spent the money and time creating it.
Start before you’re ready – There’s never going to be a right time to start. Decide. We all have to go through the toddler phase. The sooner you start, the sooner you can move through it. Expect it. Fail forwards. Every time you fail, you gain more information on what doesn’t work and get closer to what does work. There’s no skipping this stage. It’s part of the journey.
Do what you’re good at – Ask people who know you what this is. Most of us have skills that we’re not even aware of because we assume everyone else has them too. But they don’t. Everyone has a unique gift, something that comes easy to them and not to others. Use that. You only have to be one step ahead of your customer. You don’t have to be an expert or be perfect!
Bio
Hello Beautiful, let’s talk about money, it’s easier than you think.
I know this because I’m a certified expert in Money Mindset and I’ve been a Chartered Accountant for 20 years. As a former financial advisor, I realised there’s a gap in the market between women and the finance industry. This includes women in business!
The fact is, women do money differently to men.
I help women clear money blocks, strategise, and set up systems to become super confident in attracting managing and growing wealth in their personal life and in business.
Why?
Because the world needs more wealthy women! Money Mindset and Feng Shui have changed my approach to money and that, coupled with my divorce, is why I started my firm Love Luck Wealth. I integrate intuitive and financial tools to teach you how to open your mind to massive financial success the feminine way.
If you want to create true generational wealth and change your money patterns for good, you need to understand both traditional finance AND your money mindset. Learn to love your money and it will love you back. Promise.
