Latest / Beyond Limits With Olivia Marie / Wealth Secrets Unlocked: Investing for Success in Business

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Wealth Secrets Unlocked: Investing for Success in Business · Beyond Limits With Olivia Marie

• 0:02
  SPEAKER_00: Hello and welcome to the Live Well Podcast.
• 0:06
  SPEAKER_00: I'm your host, Liv, Naturopath, turned seven-figure business owner and wealth activator who is obsessed with igniting your life and business from the inside up.
• 0:16
  SPEAKER_00: Join us as we fuse groundbreaking strategies with the power of energetics and the wisdom of the nervous system to truly create a life and business that flows.
• 0:27
  SPEAKER_00: Each episode, we will dive deep with no BS advice to create massive results while we explore the realms of growth and expansion in a way that honestly feels chill and relaxed.
• 0:39
  SPEAKER_00: If you are looking for enlightening discussions and profound expansion, then you are in the right place.
• 0:45
  SPEAKER_00: It is time to step into all that is possible.
• 0:48
  SPEAKER_00: Hello everyone.
• 0:50
  SPEAKER_00: Welcome back to the podcast.
• 0:51
  SPEAKER_00: Today we have a little fun episode because I'm taking in some questions.
• 0:56
  SPEAKER_00: We're going to do a little bit of a QA all about money and wealth.
• 0:59
  SPEAKER_00: So the first one is how do you prioritize investments in your business for growth?
• 1:05
  SPEAKER_00: So I think this is a really good question because there's always like a balance between you want to make investments that are always going to move you forward.
• 1:14
  SPEAKER_00: You don't want to get complacent.
• 1:16
  SPEAKER_00: You don't want to get into fear.
• 1:18
  SPEAKER_00: And so I'm going to also speak because this question is about for business growth versus just investments for wealth creation and wealth growth in general.
• 1:28
  SPEAKER_00: But where I see people get stagnant is they stop trying to invest in their business to develop skill sets that are actually going to take them to the next level.
• 1:39
  SPEAKER_00: So nose is itchy again.
• 1:41
  SPEAKER_00: I love these episodes where my nose gets itchy.
• 1:45
  SPEAKER_00: They don't invest in perhaps whether that's learning how to do marketing better.
• 1:49
  SPEAKER_00: They don't invest in learning how to do ads if that's the kind of model you want to run.
• 1:53
  SPEAKER_00: They don't invest in production if that's something that they desire.
• 1:57
  SPEAKER_00: They don't invest in whatever it is.
• 1:59
  SPEAKER_00: And so when I think about investing for my growth, I think about all right, where I want to take the business, where I want it to go, what is required, right?
• 2:09
  SPEAKER_00: Is it a skill set that I need to invest in?
• 2:11
  SPEAKER_00: Is it production that I need to invest in?
• 2:13
  SPEAKER_00: And again, it depends what you desire for your business, but it's also investing in people who are going to teach me a skill set to get there faster, right?
• 2:21
  SPEAKER_00: So I'm willing to invest, right?
• 2:23
  SPEAKER_00: When I think about my business growth, I think about investing to save time.
• 2:28
  SPEAKER_00: I think about investing to learn a skill set faster by someone who's an expert, or I think about how I'm enhancing the brand and enhancing the company.
• 2:37
  SPEAKER_00: You know, I also think investments in terms of team, right?
• 2:41
  SPEAKER_00: Hiring people that are going to help the business grow.
• 2:44
  SPEAKER_00: Where I see people get stuck is people get constricted with money.
• 2:49
  SPEAKER_00: They contract, they don't either want to delegate, they don't want to hire team members or outsource things or contractors or whoever it is, people who are going to support your business to grow because like you want to keep more of the quote unquote profit.
• 3:02
  SPEAKER_00: But how do you expect to grow if you are not investing in the business in that way that are going to move the needle?
• 3:09
  SPEAKER_00: So I think about what is actually going to like move the needle in the business and really investing in those things to really buy back my time, whether that's skill sets, whether it's this, and they're going to be different things.
• 3:20
  SPEAKER_00: But even with the clients I worked with, you know, there's times where like we need to be hiring this out now.
• 3:26
  SPEAKER_00: Like we need to expand the team now.
• 3:28
  SPEAKER_00: Cause if you don't expand your team, you cannot grow and hold more money because your business won't be able to hold it.
• 3:34
  SPEAKER_00: Right.
• 3:34
  SPEAKER_00: Or we think about skill sets.
• 3:36
  SPEAKER_00: You could take a long time to learn skill sets, or you can invest and learn from people who have mastered that skill set.
• 3:41
  SPEAKER_00: I'm like, okay, wonderful.
• 3:43
  SPEAKER_00: I'm going to learn from that because that's going to save me time.
• 3:46
  SPEAKER_00: Now, when I think about business investments, right, I also think about things that aren't just business skills, that are investments for my business.
• 3:56
  SPEAKER_00: So I consider the cleaners that come to the house as a business investment because that frees up time that I would spend cleaning the house back to either taking care of me, taking care of my business, right?
• 4:09
  SPEAKER_00: I'm buying that time back.
• 4:11
  SPEAKER_00: So I really want you to think about whether it's things outside your business, like it could be grocery delivery, it could be a babysitter, a nanny if you've got kids, it could be a dog walker, it could be house cleaners, it could be taking an Uber so you do things in the car, it could be booking a flight that's better working hours so that like you end up rejuvenated on the end of that flight.
• 4:33
  SPEAKER_00: It could be those things outside your business, and it could be hiring production, hiring team, an accountant, a bookkeeper.
• 4:40
  SPEAKER_00: Um, it could be hiring someone to do your graphic design.
• 4:45
  SPEAKER_00: It could be hiring someone who knows a skill set like email marketing or ads if you like to run ads.
• 4:51
  SPEAKER_00: I mean, I don't, but if I choose to in the future, 100%, you think I'm gonna try to Google that on my own?
• 4:56
  SPEAKER_00: No, I'm gonna hire someone who's a skilled-trained expert because I want to do that thing as fast as I can.
• 5:02
  SPEAKER_00: So when I think about, oh, what investments are gonna grow the business, I think about where do I want to take it?
• 5:08
  SPEAKER_00: What's the fastest way to get there, and how am I gonna leverage that to give me the biggest ROI the fastest that I can?
• 5:15
  SPEAKER_00: Good question.
• 5:16
  SPEAKER_00: Okay, and that's how I prioritize it.
• 5:20
  SPEAKER_00: Um what is the relationship between, oh, this is a good one, risk taking and wealth creation in business.
• 5:28
  SPEAKER_00: So this kind of is a good one because it builds off of our last question, kinda.
• 5:34
  SPEAKER_00: That doesn't mean, right, that you have to go and spend a hundred thousand dollars, but you'll know when you're getting complacent.
• 5:43
  SPEAKER_00: So I know like there's an edge that I play with of like, ooh, this this stretches me, but I know that it's good for the business.
• 5:50
  SPEAKER_00: And I also focus on what is going to actually move the needle and give me a good like ROI, right?
• 5:57
  SPEAKER_00: So there's times where maybe you're and I'm not saying this all the time, but I'll use this example.
• 6:02
  SPEAKER_00: Maybe you're spending money on graphic design, but for you right now in your brand in your business, that may not be the thing that's going to move the needle, right?
• 6:10
  SPEAKER_00: And so taking a big risk on that, if you don't think that's gonna have a big ROI, or that's not where your bottleneck is right now, that's not where you're experiencing stagnancy.
• 6:20
  SPEAKER_00: Well, then it wouldn't be like the thing you're prioritized, or that wouldn't be a good risk to take.
• 6:24
  SPEAKER_00: For you, maybe your risk needs to be really funneling that into growing the team or into your leadership or into marketing skills or sales skills or, you know, production skills, whatever it is.
• 6:37
  SPEAKER_00: So it's really important to identify all right, what's the biggest risk I can take that's gonna have that highest ROI in the area that I'm experiencing stagnancy in, in the area where I feel like I want to really drive momentum in and putting yourself in those rooms, in those places in order to do so.
• 6:57
  SPEAKER_00: Okay, the next question is in your experience, how does a growth mindset contribute to long-term financial success?
• 7:04
  SPEAKER_00: So I'm gonna take this with like a growth mindset, abundant mindset.
• 7:08
  SPEAKER_00: I'm also gonna weave in like having a regulated nervous system because you know that's what I'm about.
• 7:12
  SPEAKER_00: There, the the two are actually one in the same because when you have a growth mindset, you tend to be more long-term focused.
• 7:19
  SPEAKER_00: When you are in a more lack, constricted, you tend to be more in a short term.
• 7:24
  SPEAKER_00: You tend to be thinking about this week or this month versus someone who's like building a legacy, right?
• 7:32
  SPEAKER_00: You're thinking about the vision five years, 10 years, like you have this more long-term success thing.
• 7:39
  SPEAKER_00: It's not about, all right, this week or this month.
• 7:42
  SPEAKER_00: It's about that long-term thing.
• 7:43
  SPEAKER_00: So I think this question is actually interesting because when your mindset becomes about long-term, you have more success because you're not just focused on the small day-to-day.
• 7:52
  SPEAKER_00: Yes, those things are important and you want to be aware of those things, but those things then don't dip your mindset.
• 7:59
  SPEAKER_00: Those things then don't dysregulate you because you're not only focused on the short term, you're focused on the long-term vision.
• 8:06
  SPEAKER_00: Okay, the next question is what advice would you give to entrepreneurs looking to scale their wealth sustainably?
• 8:14
  SPEAKER_00: Great question.
• 8:15
  SPEAKER_00: So I am all about sustainability, right?
• 8:18
  SPEAKER_00: Sustainability is so good for the nervous system, right?
• 8:22
  SPEAKER_00: If we think about operating, right, becoming a regulated CEO, if you're dysregulated all the time, that's not going to be sustainable.
• 8:31
  SPEAKER_00: If you are running your business from a dysregulated place, that's not going to be sustainable long term.
• 8:38
  SPEAKER_00: Now, when it comes to building well sustainably and really having this, if you are focused on running your business from a dysregulated place, chances are you're experiencing like short-term cash and cash injections.
• 8:50
  SPEAKER_00: It's up and then it's down, it's up and then it's down.
• 8:52
  SPEAKER_00: And when you become very focused on that because you're running your business from a dysregulated place, that's not gonna be sustainable, right?
• 9:00
  SPEAKER_00: When you're maybe pushing and forcing and grinding from a place that's not sustainable, you will burn out.
• 9:06
  SPEAKER_00: You might make some quick money, but it's not gonna be sustainable money, right?
• 9:10
  SPEAKER_00: You might get focused, like we were just talking about, on that short-term right now, but how does that matter for the long-term vision?
• 9:18
  SPEAKER_00: And when you sacrifice long-term for that short-term cash injection, a lot of the times you get distracted because then what do you need?
• 9:25
  SPEAKER_00: You keep needing a short-term hit.
• 9:26
  SPEAKER_00: You need a hit, a hit, a hit.
• 9:28
  SPEAKER_00: When we think about all those dopamine hits, your nervous system gets dysregulated, right?
• 9:32
  SPEAKER_00: It's not sustainable.
• 9:33
  SPEAKER_00: We want grounded money, we want relaxed money, we want sustainable money.
• 9:37
  SPEAKER_00: And so when you think about how is this model going to be sustainable for me long term, then that needs to be the foundation.
• 9:44
  SPEAKER_00: And then the cash injections are just the cherry on top.
• 9:47
  SPEAKER_00: They're the ooh, just because, but they don't become what you base your business on.
• 9:52
  SPEAKER_00: Hmm.
• 9:53
  SPEAKER_00: This is really itchy in this episode.
• 9:55
  SPEAKER_00: What I see a lot of people do is they base their business models or the business strategies on that short-term injection.
• 10:03
  SPEAKER_00: And if I were to ask you, if one of those things were to disappear tomorrow, would it affect a big proportion of your business?
• 10:12
  SPEAKER_00: Would it be sustainable long term?
• 10:14
  SPEAKER_00: Because you don't want any of those things to really make or or break anything.
• 10:18
  SPEAKER_00: I remember when I used to have a lot more one-on-one clients.
• 10:22
  SPEAKER_00: At one point, I had 15 one-on-one clients, which was a lot.
• 10:25
  SPEAKER_00: But the thing is, when it's built on that, right, or if a large part of your income is built on, in my example for my business model, one-on-one, if that disappears, all of a sudden a large chunk of my money is gone.
• 10:36
  SPEAKER_00: That's not sustainable, right?
• 10:38
  SPEAKER_00: Because you constantly need that.
• 10:40
  SPEAKER_00: Right.
• 10:41
  SPEAKER_00: Then I shifted to more sustainable model, which is a lot better, is a lot more consistent, right?
• 10:45
  SPEAKER_00: That's what you want for your nervous system to be sustainable.
• 10:48
  SPEAKER_00: So if I were to ask you if one big transaction can make or break your business, or a couple of them, right, or one aspect of your business model disappears, can it still function?
• 10:59
  SPEAKER_00: Can it still run?
• 11:00
  SPEAKER_00: And this is where we always want like multiple different money pathways, multiple different streams of income coming in so that it is sustainable, so not all the eggs are in one basket.
• 11:10
  SPEAKER_00: So I think that answers that question.
• 11:12
  SPEAKER_00: All right, the last question is what role does innovation play in your approach to expanding financial resources?
• 11:20
  SPEAKER_00: I think this is really interesting because if you're looking to experience a level of wealth of money you haven't before, you cannot expect the same way you're doing things in business to get you that.
• 11:35
  SPEAKER_00: And I see a lot of people get trapped in either what was currently working or what worked before, right?
• 11:42
  SPEAKER_00: Because the instinct that a lot of people have is when they feel it's not working, it's like, all right, what was working in 2020?
• 11:47
  SPEAKER_00: What was working in 2022?
• 11:49
  SPEAKER_00: Let me go back to that from when I was feeling good.
• 11:51
  SPEAKER_00: But you actually want to innovate.
• 11:53
  SPEAKER_00: And so if you find yourself looking backwards, that's your immediate key that like you're probably going back to the past, right?
• 11:59
  SPEAKER_00: Versus innovating for the future.
• 12:01
  SPEAKER_00: You actually have to be willing to do things differently in your business if you want to experience a different level, which looks like quote unquote taking risks, but then people get into fear like, well, if I innovate, what if my income dips?
• 12:14
  SPEAKER_00: If I innovate, what if I lose people?
• 12:17
  SPEAKER_00: If I innovate, what if clients don't come with me?
• 12:19
  SPEAKER_00: If I innovate, you know, then I'm gonna, you know, make less money, which is not true.
• 12:25
  SPEAKER_00: It goes back to what we're actually talking about in the beginning of this episode.
• 12:28
  SPEAKER_00: I actually love how these questions all came in.
• 12:31
  SPEAKER_00: It requires maybe new skill sets, right?
• 12:34
  SPEAKER_00: So it requires if you're gonna pivot and you're gonna innovate, you might have to learn some new skill sets with that.
• 12:40
  SPEAKER_00: That's perfect, but you can't expect one without the other.
• 12:43
  SPEAKER_00: Where people want is like they they expect more to come from doing the same.
• 12:48
  SPEAKER_00: I'm like that.
• 12:50
  SPEAKER_00: That's not how it works.
• 12:51
  SPEAKER_00: If we think about like Olympic athletes, they get better and better and better.
• 12:54
  SPEAKER_00: They innovate in their craft.
• 12:55
  SPEAKER_00: Or you think about artists, right?
• 12:57
  SPEAKER_00: The people who innovate, they do things differently.
• 12:59
  SPEAKER_00: We think about brands, we think about the brands that are most successful.
• 13:02
  SPEAKER_00: Like, you know, let's say Uber, they innovated.
• 13:05
  SPEAKER_00: That's an innovation, right?
• 13:07
  SPEAKER_00: They do things differently.
• 13:09
  SPEAKER_00: So it's not about looking at what worked before or doing the same.
• 13:13
  SPEAKER_00: It's like, all right, that's the role of innovation.
• 13:15
  SPEAKER_00: If I want something different, I actually have to think about a different way of doing things because that's how you're gonna stand out.
• 13:19
  SPEAKER_00: That's how you're gonna quote unquote become the one.
• 13:21
  SPEAKER_00: That's how people are gonna take notice.
• 13:23
  SPEAKER_00: But if you're going into fear or getting dysregulated about making pivots in your business or innovating or doing things differently, you actually can't expect a different result.
• 13:35
  SPEAKER_00: And this I think is really, really important because chances are, if you're not innovating, you will experience complacency.
• 13:42
  SPEAKER_00: When we think about, you know, I know we did an episode recently on collapsing time and quote unquote quantum leaping.
• 13:47
  SPEAKER_00: Those people are innovating.
• 13:49
  SPEAKER_00: They're they're trail-basing, they're thinking about different ways to do things.
• 13:52
  SPEAKER_00: When everyone else is going left, they're going right.
• 13:54
  SPEAKER_00: So I want you to ask yourself are you someone who innovates or are you someone who like just follows all the trends?
• 14:00
  SPEAKER_00: Are you someone who sets the trends?
• 14:02
  SPEAKER_00: Are you someone who stands apart, who goes left when everyone else is going right?
• 14:06
  SPEAKER_00: Because when you do that, you're gonna crack yourselves open to some some new wealth because you're not gonna be blending in with everyone else in the marketplace.
• 14:13
  SPEAKER_00: You're not gonna be blending in with everyone else.
• 14:16
  SPEAKER_00: So I think that answered the question.
• 14:18
  SPEAKER_00: Let me look at the one again.
• 14:20
  SPEAKER_00: Yeah.
• 14:21
  SPEAKER_00: Obviously, that's gonna expand your financial resources because everyone's gonna be like, ooh, that's like that's fun, that's different.
• 14:26
  SPEAKER_00: I haven't seen that before.
• 14:27
  SPEAKER_00: I want that thing.
• 14:30
  SPEAKER_00: And then when you do that, you have more wealth disposable.
• 14:33
  SPEAKER_00: You can be more flexible, you can reinvest, then we can go back to the beginning, then you know how what to prioritize.
• 14:39
  SPEAKER_00: You can prioritize those things are gonna move the needle.
• 14:41
  SPEAKER_00: So it's kind of like one whole big thing in this episode of how all of the nervous system backing allows you to then expand your money with wealth because it allows you to innovate, it allows you to master new skill sets, it allows you to pivot, it allows you to know what you're gonna prioritize, and it allows you to be different, right?
• 14:58
  SPEAKER_00: Because you need your nervous system on board when you're doing different things that are going against the grain of everyone else.
• 15:04
  SPEAKER_00: But that's how you become a leader.
• 15:06
  SPEAKER_00: You're here to be a visionary, you're here to be a legend, you're here to create something legendary.
• 15:10
  SPEAKER_00: So go ahead and do that.
• 15:11
  SPEAKER_00: So thank you guys for tuning into this episode.
• 15:14
  SPEAKER_00: I loved all these questions.
• 15:15
  SPEAKER_00: We'll be doing more QA's in the future.
• 15:17
  SPEAKER_00: Be sure to let me know how this episode landed for you, and I will see you guys in the next one.