Latest / The SmallBizChat with Melinda Emerson / Be the CEO of Your Wealth with Charisse Conanan Johnson

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Be the CEO of Your Wealth with Charisse Conanan Johnson · The SmallBizChat with Melinda Emerson

• 0:01
  Hi.
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  This is Melinda Emerson, the small biz lady host of the small Bizchett podcast.
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  I want to serve you.
• 0:07
  This pandemic has been so hard on America's small businesses and on just America in
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  general.
• 0:13
  If you're ready to start your dream business, boy, do I have a great offer for you?
• 0:17
  I am giving away 1000 copies of my best selling book, become your own boss in 12 months.
• 0:23
  Over a hundred thousand people have this book It has been printed in multiple languages
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  around the world, and I wanted to find a way to serve America small businesses in this
• 0:33
  pandemic.
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  And so I am giving away a 1000 copies of my book.
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  All you have to do to get your copy is head over to begin my biz dotcom slash free offer
• 0:44
  to, you know, sign up for your copy.
• 0:46
  All you have to do is pay shipping, and we will mail one out to you.
• 0:49
  I am so excited about this.
• 0:51
  I wanna serve you, grab your copy today.
• 0:56
  Ending small business failure.
• 0:58
  Welcome to the small biz chat podcast with a number one small business expert, Melinda
• 1:04
  Emerson.
• 1:05
  Melinda's goal is to end small business failure, and she'll give you the information
• 1:09
  you need succeed and live the life you dream of.
• 1:13
  Now here's the small biz lady herself.
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  Melinda Everson.
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  Hi.
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  I'm Melinda Emerson, the small business lady, and welcome to the small business chat podcast.
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  I want you to know that today's show is all about developing the leadership and sales
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  systems to scale your business.
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  We're also gonna be talking about wealth.
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  What is it?
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  How can you contain it, especially if you're a woman or a girl?
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  And, also, we want you to know that they're gonna be sharing some great insights tonight.
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  And if you've been thinking about these things, if you've been trying to figure out how to
• 1:50
  scale or what you needed to put in place so that you could scale your business.
• 1:54
  You're dealing with feast or famine sales in your business.
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  We've got some great information for you tonight.
• 2:00
  The small business chat podcast is a peer to peer interview show where we get you invaluable
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  information that you would otherwise have to pay big dollars for.
• 2:09
  The mission of small business chat is to end small business failure.
• 2:14
  And it's time for me to introduce my next guest who was also my friend.
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  Her name is Charice Conan Johnson, and she is an MBA and an CFA.
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  I'm gonna let her tell you what that means.
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  Health expert investor, business strategist, public speaker, media personality, And she
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  calls herself the original wealthy girl, Theresa's the author of the new book, a wealthy
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  girl, 7 steps to press parody, peace, and personal power.
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  And I'm so excited that she's here.
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  She's also the managing partner of the mission driven consulting firm next week.
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  Affirm that mobilizes capital, customers, and capabilities to small business owners.
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  She has pursued a life of purpose by investing in financial markets, teaching building
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  businesses and stepping out on faith.
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  So if you wanna know more about her, go to sharice says .com.
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  Charice, thank you so much for being here.
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  Thank you so much, Melinda, for having me.
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  I'm super pumped for this talk.
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  Alright.
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  Good stuff.
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  So listen.
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  It has been a stressful year for everyone.
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  This past year has been rough.
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  And particularly for women, you know, the statistics show that over a million women have
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  been pushed out of the workforce by the mimic.
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  And you're saying, but wait a minute.
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  You said now is a perfect time to be focusing on wealth creation.
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  Talk to me.
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  Series.
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  Where where, you know, how how am I doing this?
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  And I'm worried about all the other stuff going on.
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  Absolutely.
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  I wanna encourage you and everyone else.
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  When we talk about wealth and why we should be focused on it right now, it's because we have
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  the opportunity to take advantage for what we know can be ours.
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  Liz said that earlier as it relates to the sales process, while we have to take control of
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  what we want our wealth to be.
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  I'm a big fan of being the CEO of your wealth and what everything going on.
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  We have to hold both things.
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  We're in a new normal I don't wanna go back to the old normal with the resizing of our values,
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  the resizing of what's important to us, why not take another look at how we might do things
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  differently with our jobs, with our money, with all the things that allow us to do the things
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  that we want in this life.
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  And that is why I'm a big fan of being that CEO of your wealth amidst the pain and and again,
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  trying to do that in order to get you to where you wanna be.
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  I like that.
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  Be the CEO of your will.
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  We're gonna get back to that in a second.
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  So tell me about tell me about your new book and and how to be a wealthy girl.
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  How did this even, you know, come about?
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  What made you even write this book?
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  Absolutely.
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  Well, I have been in a career journey right now where wealth has always been at the center and
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  I was just coming off of maternity leave.
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  I now have a 22 month baby girl.
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  And as I was returning to the workforce at my day job at Next Street, I said, you know what?
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  For the next generation.
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  She epitomizes it, but all the other young women out there, I wanted to put out in the
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  world how to give guidance to what it means to truly attain wealth.
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  And I define that holistically.
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  As I looked into her face, I said to myself, wealth isn't just about the dollars and cents.
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  We're so much more than that.
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  And people obviously are a big part of that, but also our relationships are faith.
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  And so I wanted to put together these 7 steps that allow us not just to get the prosperity
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  that comes in the form of dollars, but to get the peace and personal power because that's
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  what's gonna sustain us in this COVID environment and and other trials that look.
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  So that that actually brings me to my next question.
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  So so how do you define Wells?
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  So it sounds like you you're saying not just about what's in your bank account or in your
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  pocket.
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  Right?
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  So tell me what are the other things that one should count as well.
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  That's right.
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  That's right.
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  And just for everyone, as a reminder, wealth tangibly and traditionally is defined as your
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  total assets So your financial assets, your private companies, real estate minus your debt
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  could be credit card debt, mortgage debt, student loan that we know.
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  A lot of that.
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  But when you take those assets minus the debt, you get your net worth, which is your wealth.
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  I'm saying in addition to that, I still wanna get those things because those things are
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  important to me But in addition to those things, my intangible assets, it's my
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  relationships, my connections, my network, who am I surrounding myself with?
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  My education and not just the paper that says a degree in which I attended from, but my
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  experience my faith, which for me has been a big part of my journey.
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  I know for so many others and being hopeful when they can't even see the outcomes.
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  And so those are the things that I wanna embark and and let people know that those assets and
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  particularly as women where statistics try to define us solely and patriarchal statistics and
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  also as a woman of color as a black woman, those things are important because these gaps,
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  the gender pay gap, the racial wealth equity gap.
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  That isn't everything that defines me, and I'm tired sometimes of being beholden to some of
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  those standards that actually don't encompass those intangible assets.
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  Alright.
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  So let's talk about some of those misconceptions or myths that people have around
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  wealth.
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  Sure.
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  I think one of the ones that people have is that I'm not worthy of wealth.
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  A lot of people don't believe that they have the ability or that they deserve a high amount
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  of wealth and on both fronts.
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  And so I'm here to tell you, and I'll say it loudly.
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  I am a wealthy girl.
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  I own that.
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  I'm the CEO of my wealth.
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  Right?
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  So that's one of the misconceptions that you're not worthy.
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  Another misconception is that people believe that they don't have to skill sets, sometimes
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  understanding the numbers, understanding what it takes to get to the next level.
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  I might not have that, or I didn't grow up with that in my household.
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  Maybe my parent wasn't a small business owner, or my parent wasn't in finance.
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  That can weigh on your psyche.
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  And I wanna tell you that you can learn those skill sets You can have the experience.
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  You can surround yourself with those skill sets that you might not have.
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  And, you know, we touched on that with Liz and both Jeff.
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  Those are very important things that you should keep in mind.
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  Another misconception is that wealth is an individual activity.
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  I think we have a poster child in this generation of individual wealth attainment.
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  We look at, you know, Facebook, one of the biggest success stories in terms of its impact
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  and reach across the globe and everyone thinks of Facebook.
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  Who do you think of?
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  Marcus Zuckerberg, right?
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  And Mark didn't get there by himself.
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  He had a whole team of folks journey with him and helping him on the side.
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  And that's the secret of the wealthy.
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  They have a lot of help.
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  And so if you can tap into that, It's about the power of the collective.
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  And how can we all move forward and attain wealth ourselves?
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  I love it.
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  I love it.
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  So What are the 7 steps to living a wealthy girl life?
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  Absolutely.
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  So these 7 steps The first one is you gotta build an environment for wealth creation.
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  That is surrounding yourself where I call your 18.
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  Yes.
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  You might think of a financial advisor.
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  Absolutely.
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  You should have one of those in there, but your informal peer groups that encompasses your 18,
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  a therapist, a career coach, a sponsor, a mentor.
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  You might not have all of these things at the same time.
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  But putting yourself in a position to surround yourself with people who can assist you and
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  assistance is a good thing to make you go farther a little bit faster I think that sets
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  you up for an environment for wealth creation.
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  Also, that involves having some of the ambition that you need in order to take to that next
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  step.
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  The second step toward having a wealthy life is the ability to work your craft.
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  Everyone has a unique skill set, and everyone is going to do it a bit differently.
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  As you have this wonderful platform that we're able to come on here and and really showcase
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  our skill sets, I mean, that is about working your your craft.
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  Right?
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  It is about doing that thing that you just do really well.
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  The third one is about making sure you develop an investor mindset.
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  And I know we'll probably spend a little bit more time on this one, but that being on the
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  offensive and being on the aggressive and investment to get a return is really important.
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  The 4 stuff that I wanna share is the ability to run wealthy experiments.
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  This is just a process of growing, testing, and ensuring that you have a mindset of an
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  experimentation to generate wealth in service of wealth.
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  That's really important.
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  The 5th step, you need to start or support the entrepreneurs and small businesses around you.
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  It's not enough to say, oh, this person is over here starting a business.
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  What what can I do if I'm not the entrepreneur myself with a small business owner, this 6
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  step, so important, building a faith muscle?
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  This is going to make sure that you can get through the dark days when you can't see the
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  outcome of the wealth that you wanna get.
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  And then the last step, certainly, be a girl and I define girl not in a traditional sense.
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  I I put girl on quotation because Whether you're gender non conforming or don't choose to
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  identify yourself as a female, a girl, what I say is harnessing the power of the collective.
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  We are so equipped at bringing people together and making sure that our community benefits
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  from our power.
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  And if you're a guy listening to this, there's a role for YouTube because can support the
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  girls in your life, and you can also harness that mindset of pulling people together to
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  reach toward the goal.
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  Now I know that budgeting is like a key activity in wealth Creation, but I know from
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  paging through your book, your anti budget.
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  You don't like that word.
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  So I you you created something that all that is the alternative to that.
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  So help me explain to us what do you call it?
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  Your Sipping and living allocation.
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  Like, I'm telling you.
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  There you go.
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  You're right.
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  You're right.
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  I hate the word budgeting because it can be so constraining.
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  It actually sets us back one because a lot of people have a hard time sticking to a budget.
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  And so why try to stay with it when you're not gonna stick to it?
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  I prefer allocating your money and whether that whether you're running a business or allocating
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  your personal money, it's what is the cash flow coming in And then how are you gonna allocate
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  that because you need to spend that down?
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  And that leads to my Sippon and Livent allocation strategy, and it's a framework.
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  SIPN stands for saving, investing, paying down, and protecting, and we can get into those
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  specific components.
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  But ultimately, if you do that first, save and invest, paying down your debt, and then
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  protecting yourself, whether that's insurance, health, car, like, all of those are important.
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  And then live in your life.
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  That's the other part of the framework, and that's the living part.
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  If you do those 1st sipping sipping parts, then you can live and do everything else you need to
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  do.
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  Living doors, you know, get the groceries and and not get too caught up in the subcategories.
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  That I have found, and I've talked to thousands of people about how they, quote unquote, wanna
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  budget.
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  And it ultimately comes down to to choices that they make, but up front, if you could do those
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  sipping stuff, you'll be in a really good spot.
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  And so I have some guidelines around what that entails for you at every one of those broader
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  categories.
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  Love it.
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  Love it.
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  Love it.
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  Alright.
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  So you talk a lot about the the investor mindset.
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  So I wanna get back to that because I think that's like sort of what people need a lot of
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  guidance around.
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  So tell me, you know, how do I get started?
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  If I if I don't have an investor mindset or I've been scared of the stock mark and a
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  lowered cryptocurrency.
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  Like, what, you know, what should I do to start developing sort of like that investor muscle,
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  if you will?
• 14:17
  Absolutely.
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  So it actually ties back to the framework of being the CEO of your wealth the first part of
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  in of building that investor mindset muscle is to set that vision for what you want.
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  This is super important, whether you're gonna do a vision board, whether you're gonna write
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  those things down, what are 3 to 4 elements of of the life that you want.
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  Write those down on a piece of paper.
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  Draw a picture.
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  Put them up.
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  Remember to tell yourself and remind yourself on a daily basis what those things are.
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  The second thing that you're gonna wanna do is to to take action And so you can start small.
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  You may not have, you know, 1000 of dollars to invest for instance, but but these days with
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  the resources that are out there, you can fractionally.
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  You don't have to have the same magnitude of money in order to invest for instance in
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  cryptocurrency or, you know, a Bitcoin.
• 15:11
  I mean, that is going to be super important.
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  You know, my mom is one of the best investors that I know and paying attention to the friends
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  and that are happening around you.
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  If you take us back a year ago at this time, Zoom, right, everybody was starting to get on
• 15:26
  Zoom.
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  You weren't You know, it isn't that much, but you knew that peep we were moving virtual.
• 15:31
  Zoon stock at that time was trading at a $125 Right?
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  You could have taken just a little bit of money, put it into that stock.
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  September, Zoom stock was just trading under $500.
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  I mean, individual stocks is one just example of what's happening around you.
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  How can I make sure and take advantage of the trends?
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  And being able to act on that is the key.
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  Most people are overloaded with information.
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  I think Jeff was talking about that, but changing that behavior from the information to
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  action even in small increments is so important to build the muscle.
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  And then the third piece, I would say the step is to build the confidence.
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  And the way that you do that is having the right infrastructure around you, whether it's
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  the tech platforms that enable you to do what you need to do, whether it's an accountability
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  circle.
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  I talk a lot about the promise in premise of of wealthy circles, which is a group people that
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  can be accountable to those goals and to that vision and also co invest with you.
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  You don't have to do this thing alone.
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  I love it.
• 16:33
  I love it.
• 16:34
  Alright.
• 16:34
  So we're almost out of time, but can you tell me what is the best place for people to get a
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  copy of your new book wealthy girl.
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  Absolutely.
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  You know, I love that question.
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  Right now, the best place that everybody knows.
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  You can search for it is Amazon.
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  You can buy the book on Amazon, the ebook, the audio book, and the paperback that you just
• 16:56
  showed, and I appreciate that.
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  And I hope that we spread the love and spread the wealth.
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  Awesome.
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  Well, thank you so much for being here.
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  Alright, Charisse.
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  What is your favorite podcast?
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  Yes.
• 17:09
  I have to go with The Daily.
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  I mean, it's the New York Times podcast, and I'm a huge story, kind of documentary style,
• 17:18
  consumer of news and politics and culture, and they do it all in that podcast, and I can I can
• 17:25
  get it on a daily basis?
• 17:26
  I actually like that one too.
• 17:28
  Charisse, what is your favorite business app?
• 17:32
  My favorite business app is a productivity app called Pocket I don't know if you use it, but
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  it allows you to capture article stories, anything on the web, and me consuming a lot of
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  information.
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  I need to do it efficiently.
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  And so that's a productivity statement for me.
• 17:51
  Love it.
• 17:52
  I love it too.
• 17:53
  I love that one too.
• 17:54
  What is your favorite old school marketing tip?
• 17:58
  Favorite old school marketing tip.
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  Man, favorite old school marketing tip.
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  Pick up the phone.
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  I learned that one from my daddy when I sent him emails, and invites.
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  And he said, can you pick up the phone and call me if you need to do something?
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  So that's my favorite too.
• 18:23
  That's a good one.
• 18:23
  That's a good one.
• 18:24
  Charisse, what's your favorite business for?
• 18:26
  Man, yeah.
• 18:27
  Life, I got a lot, but one of my favorites is getting to yes.
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  William Urie and, you know, his partner there.
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  And I use it all the time in terms of negotiating, persuading, moving people.
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  So where I need to move them.
• 18:41
  Excellent.
• 18:42
  Excellent.
• 18:42
  I like that book too.
• 18:43
  Listen.
• 18:44
  Thank you guys so much for being my guest tonight on the small business chat podcast.
• 18:48
  And thank you all for joining me for this episode of the small business chat podcast.
• 18:52
  For more information about how to start and grow a successful small business head over to
• 18:57
  succeed as your own boss.com, or you can check out one of my brand new courses on small
• 19:02
  business lady university.
• 19:03
  Thank you all.
• 19:04
  The mission of small business chat is to end small business failure, and I live you with
• 19:08
  this.
• 19:08
  You never lose in business.
• 19:10
  Either you win or you learn.
• 19:12
  Good night, everybody.
• 19:15
  Thank you for listening to the Small Biz Chat podcast with Melinda Emerson.
• 19:20
  For more resources and small business success strategies, visit succeed as your own boss.com.
• 19:27
  Subscribe to this podcast wherever you listen to podcasts and join us next Wednesday.