Latest / The SmallBizChat with Melinda Emerson / Becoming Financially Fit with Melanie Greenough

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Becoming Financially Fit with Melanie Greenough · The SmallBizChat with Melinda Emerson

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  But the reality is that money is energy and money can grow to whatever degree you want.
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  If there's people out there, that can earn, you know, a $1,000,000,000 or a $1,000,000,000 or a
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  $1,000,000,000, why can't you?
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  So it's creating, first of all, the mindset that that's willing to receive the ideas for
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  catapulting your life and making sure that you're willing to let go of what was so you can
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  get a hold of what can be.
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  3, 2, 1, 0, ignition, I left off.
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  Ending small business failure.
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  Welcome to the small biz chat podcast.
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  With the number one small business expert, Melinda Emerson.
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  Melinda's goal is to end small business failure.
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  And she'll give you the information you need to succeed and live the life you dream of.
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  Now here's your host, the small Biz chat lady herself, Melinda Emerson,
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  Hi, everybody.
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  I'm Melinda Emerson, the small biz lady.
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  America's number one small business expert.
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  And it's my pleasure to welcome you to another episode of the small business chat podcast.
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  We have an amazing show for you tonight.
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  We're gonna be talking to a business coach who's gonna give all of us her tips on how to
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  generate more revenue streams in your business.
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  And if you're ready to make your money work harder for you, I've got a business coach here
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  who is all about bringing money day night.
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  Now here on the small business chat podcast, our mission is to end small business failure.
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  This show is for you.
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  I bring in top experts who give advice from multiple angles all with the mission to take
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  your business to the next level.
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  Now, hopefully, you're joining us watching the small Bishop pockets from my YouTube channel or
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  my Facebook page.
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  And as always, if you hear something great, leave us a comment, better yet subscribe to my
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  channel so that you never miss another episode of the small business chat podcast.
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  So with that, it is time for me to introduce my guest.
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  Her name is Melody Greenow, and she is a business coach, and she has her business is
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  she's creating an empire.
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  She is a brain child behind the CEO's way and the CEO business school.
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  She specializes in helping women create profitable online businesses that they love.
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  Melanie has gone from homeless single mom to multimillion dollar earner She's a coach.
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  She's an inspirational speaker and best selling author.
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  And she's a highly sought after business strategist known for her leadership and record
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  breaking sales results.
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  She has been featured in publications such as success from home and my business from home
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  just to name a few after overcoming addiction, abuse, and a difficult past Melanie has learned
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  the strategies and mindset required to help others go from surviving to thriving, both on
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  and offline.
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  She focuses on teaching women all over the world how to tap into their inner Millionista.
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  I think I like that.
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  Milian Easta, for more information, you can go to she's creating an empire.com.
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  Melanie, welcome to the small bitch chat podcast.
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  Thank you so much.
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  I'm excited to be here.
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  I love that you're ending this drive for small business owners because let me tell you.
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  I started out, broke homeless, and thought, okay, wait.
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  I'll get a job.
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  And then I was fired twenty one times.
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  So I open small businesses only to find out after 44 employees and 65,000 a month in
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  overhead.
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  Oh my gosh.
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  I didn't know what I was doing.
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  So having someone like you, if I'd had that, it's a really big deal.
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  So congratulations on your mission.
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  It's very, very cool.
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  Thank you.
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  Thank you.
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  So so, Melanie, you know, you gotta tell me the story.
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  Right?
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  Like, how did you go from homeless single mom to teaching women how to build multiple streams
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  of income in their businesses.
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  Yeah.
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  So I actually was, ended up in a woman's shelter, had my daughter's year old on my lap,
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  and I had to figure out how it was gonna live, right?
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  Because Like, I had no income.
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  I I was gonna be a a stay at home Christian mom, and that was turned on its head, not by my
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  choice, but by actions taken by others.
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  And so I'm sitting there, and this woman treated me.
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  Like, I was the scum of the earth.
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  Like, I was a leech on society.
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  And all I was looking for was a, like, a deposit so I could get an apartment so I didn't
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  have to live on the street with my daughter.
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  And I was sitting there, and I thought, you know, this is where adversity comes in.
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  Right?
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  People are like, oh, if it's hard, maybe it's not supposed to be, I'm like, okay.
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  Wait a second.
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  So I'm sitting there and I'm like, okay.
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  I have 2 options right now.
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  1, I can be a victim, and I can go down the path that everyone thinks I'm gonna go down can
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  end up being whatever, or I can decide that my financial situation is never gonna end up in
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  another human's hands again.
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  And I made a decision in that chair.
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  That was it.
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  I was gonna get rich or die trying.
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  Like, literally, I was like, that is it.
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  We're done.
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  And so, anyway, she ended up giving me a welfare check, which is like social assistance,
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  when got a, and a for me and my daughter to live in, which I literally couldn't afford.
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  I was living in the most expensive city in Canada at the time, on $1100 a month raising my
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  daughter.
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  Like, I don't even know I would I would, like, have change in my pockets, you know, trying to
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  get milk and stuff.
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  And so it just developed out of this need to not be in a position where I had to beg or ask
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  someone else for my welfare or the welfare of my daughter.
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  And the whole thing with birth out of that And then like I said, I became a small business
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  owner.
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  I went back to school, got a, you know, psychology and theology and did all of things.
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  Became a pastor.
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  Found out that was a quick way to get broke.
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  And so then I opened a business, and I really struggled.
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  And so when I say, I really honor what you're doing.
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  It's a big deal.
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  It's a small business owner.
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  And what Brooke said about, you know, most business owners are trying to do it out of
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  their or you said too, your right or left pocket, man, that's a that's a long hard road
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  to building a business.
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  And so I think that mentorship is a big deal.
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  But, anyway, that's kinda how it it came about was just a decision not to stay the same.
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  I wasn't gonna do it.
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  And I wasn't gonna be under somebody else's thumb.
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  You know, how many of you out there have have kids and you don't wanna spend your entire
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  working life putting your kids in childcare, not there's anything wrong with that, but
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  that's not what I wanted.
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  You know, I wanted a different path.
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  And so I was kinda, you know, coerced into finding another way to do it.
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  So I I actually spent some time reading through a lot of the things that you talk about on your
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  website.
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  And what I learned was that you talk a lot about becoming financially fit.
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  And so I wanted to ask you about Do you believe people need to be financially fit before they
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  even start this thing we call business.
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  Right?
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  I think we're forced into becoming financially fit or we fail.
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  So I don't I don't think that you have to be because I wasn't.
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  I was, you know, I I had student loan debt that I couldn't pay off.
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  I was robbing Peter to pay Paul.
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  I mean, I couldn't my light bill and my phone bill in the same month when I started as an
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  entrepreneur.
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  You know?
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  But now what I prefer to teach people is how to manage their money in a way that's effective.
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  So making sure that we're not overspending.
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  You don't need five boxes of cereal in your pantry.
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  You need one.
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  You know, your kids aren't gonna eat five boxes of cereal.
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  They're gonna eat 1.
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  And so really managing the the small things that we can control because money is seed.
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  Right?
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  Money is seed that we plant.
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  And I say that, you know, you wanna put money to work for you.
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  Money makes an excellent servant, but a terrible master.
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  And so if you have to go to work for your money, then that means you're working.
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  It's your master.
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  And is just not a great way to live.
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  So I think that becoming financially fit is a process of living within your means, you know,
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  not overspending, not spending $6 on a latte, just to give you guys an example, $250
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  compounded in the market, at at even just 3% today.
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  So if you have $250 invested and you learn to compound that money at just 3% today, that
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  turns into over a $1,000,000 in under a year.
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  So it's like, what are we actually doing with those little tiny bits of money that we think
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  are no big deal?
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  So I don't think you have to start being financially fit, but I think it's a process of
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  making a decision because, you know, wealth is accumulated little by little.
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  And so if we take the attitude of learning, we can get there over time.
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  That's very helpful.
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  So when you when someone's starting out in business and they have like this one client,
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  And that client is sort of, you know, representing, like, 90% of their income.
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  How should they get started adding an additional stream of income because I think
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  this is a real problem for people.
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  They particularly people that are service businesses, you know, you get a client.
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  You're working on that client.
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  You don't have time to market to another client.
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  So, like, so what are you gonna do?
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  How are you gonna build another stream of income?
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  Yeah.
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  So I have a framework called the CEO 6, and it's you know, taking pillars, what I call
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  pillars of income that's possible for you.
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  So for example, Brooke, she owns a company that does VA or angel, you know, investing, and she
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  helps people find funding, etcetera.
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  And so one of streams of income for her would be getting the clients that investment capital.
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  Right?
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  But she could also be a coach in that space.
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  And as a coach, she would generate another stream of income.
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  And then if she chose to, she could create a course that's sold online that's not requiring
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  her time, but would bring in income on the side.
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  And so you can take what you do meaning you don't wanna distract or distract from what you
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  actually do with your time, but add in a little bit because to get a couple high end coaching
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  clients, you can add 10, 15, $20,000 a month to your income very, very easily.
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  By having some very specific parameters.
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  So, for example, my high end coaching, I would I have a group coaching program, and I have a 1
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  on 1 coaching program.
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  Both of those things only take 5 hours of my time.
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  Right?
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  So but I can generate 20, 30, $40,000 a month doing that.
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  So I think that and it doesn't matter to me if you paint, if you're an author, if you, you
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  know, you have a childcare center.
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  You have something to teach the world that only you know in a perspective that you can you're
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  the one that can deliver to the people that can hear you.
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  So I think just identifying those things that you're already doing that are viable streams of
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  income and creating a profit stream around them can be a very, very powerful solution for
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  people that need income?
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  So your motto is keep more Wait.
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  Earn more, keep more grow war.
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  So how can people build this new reality for themselves?
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  Yeah.
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  You know what?
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  It is really a frame of mind.
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  You know, we wanna earn more income.
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  I think a lot of the times people get trapped into, well, I make this amount of money.
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  You know, I make a I make 50,000 a year, or I make 20,000 a year.
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  I make a 100,000 a year.
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  Well, I make $250,000 a year, but the reality is that money is energy and money can grow to
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  whatever degree you want there's people out there that can earn, you know, a $1,000,000 or
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  a $1,000,000,000 or a $1,000,000,000, why can't you?
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  So it's creating, first of all, the mindset that that willing to receive the ideas for
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  catapulting your life and making sure that you're willing to let go of what was So you can
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  get a hold of what can be because I think a lot of the time, it's very difficult if you have an
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  identity or an ego situation where you're attached to what you do.
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  Like, I'm a doctor.
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  I I work with a lot of, like, doctors, lawyers, dentists.
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  They don't have residual income.
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  Right?
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  And so creating that residual income for them is a really big deal because how much money do
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  you make as a doctor if you're not doctoring?
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  You make nothing.
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  And not only that, when they go to retire, they're insurance is 10 grand a month.
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  They can't even retire.
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  You know?
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  So it's like mindset first.
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  So we wanna earn more.
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  And then keeping more is really about identifying what's valuable to you.
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  Right?
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  Like, I, you know, you could live in a mansion or you could have experience So what is it that
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  you want your life to look like?
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  And maybe you wanna do both.
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  And then, of course, growing your money.
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  Your money needs to make money.
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  We've got to put that money to work.
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  We wanna put little overalls on it, send it out to work, and have it come back with more money.
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  That's the job of money.
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  And so it's like creating a framework in your mind where you can start to think like wealthy
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  people think.
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  And as you take the steps.
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  And I love what you said, Brooke, about failing forward.
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  You know, you're like, that's cliche.
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  That is it's not I mean, you know, it's not cliche.
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  It's literally failing and being willing to do it over and over and over again until you get
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  it right.
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  Well, one of the things that I noticed is that you love working with women, but you love
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  working with women wanna operate a business out of their out of their home.
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  So is that mostly you work with people that are solo businesses?
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  Is that your niche focus?
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  They can actually help people transition all kinds of businesses to home.
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  So for example, you know, if you think about and it comes back to what you want your life to
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  look like.
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  Like, I wanna be able to go work wherever I wanna work whenever I wanna work there.
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  I'm going to Dubai.
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  I might be in Hawaii.
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  I might be in Mexico.
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  I live in Panama City, from Canada.
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  I wanna be able to run my business from wherever.
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  And so I have think about systems in a way that set me up to succeed from the beginning so that
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  I'm not tied into a community, which is how I used to live.
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  You see, I had a restaurant and interior design company.
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  Those things were in a city, and I couldn't leave that city, which means I was stuck there.
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  Which I didn't love.
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  So I really am passionate about helping women create a container for their income.
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  That's a movable right, work from anywhere location neutral income.
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  And anyone really can do that.
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  I mean, the reality is we have to choose how we're gonna earn an income if we want to be
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  location neutral.
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  Obviously, you can't open a child care center and be the only person running that childcare
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  center and then expect to travel.
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  However, that same childcare center could be set up with a system that would allow you to do
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  that.
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  So that's why I'm so passionate about it.
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  It's just the way we think about the systems for our business and where we wanna work from.
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  Well, You have really been enlightening for me.
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  Thank you so much.
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  So with that, Melanie, I wanna come back to you about something that I talked about when I
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  first introduced you, which is you say that every woman has an inner Millionista.
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  And so I wanna know what what how do how do I tap into that?
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  If if that if you say that's a bee, okay.
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  Help me wake her up.
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  Know, what where do I need to find this lady?
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  How do I get it?
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  I love it.
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  One of my mentors said they're shock or repetition.
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  Right?
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  Shock is quick.
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  Repetition is easier.
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  But we'll go with the we'll go with an easier answer.
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  I really truly believe that we are spiritual beings on an earthly journey.
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  And that when we get here, you know, as a baby, think about it as a baby, right, people
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  identify when they get older, they identify a shy or broke or not or whatever.
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  We identify with all kinds of things, but the reality is when we showed up here, we showed up
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  wide open.
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  We learned everything else.
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  And that, you know, as a spiritual being, I'm connected to the source of all things.
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  Like, there's no disconnection, right?
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  And I it doesn't matter to me what what, you know, religion you are, race you are.
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  It doesn't matter.
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  What matters is Are you connected to the creator of all the things?
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  Right?
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  And I don't care if you call it universe.
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  God, doesn't matter.
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  I did it really To me, it's the it's the experience of knowing that you are really
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  divinely put here at this time for your mission.
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  And the thing is that your thing that you do is so unique to you and your people, right, They
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  can hear your voice.
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  The ones that wanna learn from you grow with you.
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  Right?
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  You have your podcast.
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  Your people may or may not be, you know, the same as the people that are gonna follow
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  someone else.
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  And so you have a very unique ability to inspire those people.
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  So when I think about waking up the inner million needs that, it's like recognizing you
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  are created for expression and expansion.
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  That's what spirit is.
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  Spirit is.
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  Right?
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  Spirit.
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  The word spirit means breath.
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  Right?
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  Breath of life, breath of god, and you are meant to be here to experience love, joy,
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  peace, harmony.
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  And if the struggle is what you're in right now, recognize it's only because you're
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  identifying the struggle.
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  So if we take a minute, we say, well, why am I choosing to struggle?
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  What if I chose not to struggle?
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  What if I chose to elevate past where I'm at right now, what if I ask myself better
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  questions?
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  What if I stop asking myself, how do I pay my bills?
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  And I started asking myself, how do I get wealthy?
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  What if I stop asking myself, what if I just had enough, or what if I could only and
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  starting to expand our idea of what's really possible because the reality is you can think,
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  be, and do anything.
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  You set your mind to.
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  I'm living truth due.
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  If I can do it, anyone can do it.
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  I'm a train rep.
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  10 ways a Sunday.
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  You know?
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  So it's like if you can really start to identify that energy and power that you have,
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  right, and your thoughts become things.
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  And that's a final thing I would say.
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  You know, if you're gonna focus on something, why would you focus on just surviving or just
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  paying the bills or just making payroll or just getting your business, why wouldn't you choose
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  to ascend to a much, much higher level?
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  Because whatever you focus on is gonna grow.
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  Right?
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  And so when I was making $1100 a month, I already said I was gonna get Richard Die
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  trying, and I really meant it.
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  I focused every single day on making a little bit more.
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  Keeping a little bit more, making a little bit more grow.
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  And soon enough, I was so far from where I started that I didn't even recognize my life
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  anymore.
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  So I think it's really important that the inner work that you and I have to do, of course.
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  No one can do it for us.
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  Right?
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  We have to choose it.
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  We have to do it, and it it can be tough.
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  But just let go of the struggle and choose to elevate.
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  And I think you're gonna find that you ask the right questions, everything can change.
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  So what would you say is your biggest takeaway from your entire entrepreneurial journey?
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  Man, go ahead and tell me I can't.
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  I dare you.
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  Like, I've learned this, Ronnie.
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  Oh, go ahead.
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  Try it.
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  I think that the biggest takeaway for me has been that people are continually and always
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  going to not believe in you.
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  They can't believe in something that they can't see.
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  If something's been put in your heart to do, it's because it was put in your heart to do.
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  Don't expect other people to line up with that.
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  But then you go do the thing, preferably with the one that put the thing in your heart to do
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  it, you know, when you partner together on that journey, what you're gonna find is that as you
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  elevate, right, the book Thinking Growrich says it's like every single person has has that you
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  know, person there saying you're not gonna do it.
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  You can't do it.
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  Holding you down until you finally get there.
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  And then the entire world is gonna apply and say, I knew you could do it all along.
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  So you just have to do it regardless of who's in your corner.
• 21:04
  Be your own best friend, be your own best cheerleader, get a mentor, get a coach, read
• 21:09
  the books, listen to the audience, surround yourself with the stuff you this podcast.
• 21:15
  Put it in your ears and block out anything that comes against your goal.
• 21:20
  Like, and I don't care how close they are to you.
• 21:24
  Right?
• 21:24
  Like, sometimes my enemy is living in my house.
• 21:27
  Right?
• 21:28
  So you have to choose every day to do the bigger, better thing for you.
• 21:34
  And eventually, you'll get there.
• 21:35
  That's probably been my biggest and, like, hardest lesson, but also most powerful.
• 21:41
  I love it.
• 21:42
  I love it.
• 21:42
  Last question.
• 21:43
  What is the best business advice anyone's ever given you?
• 21:48
  The best business advice.
• 21:50
  Let me think.
• 21:52
  I think probably don't put a necktie on a poodle or lipstick on a hog, you'll frustrate
• 22:00
  the poodle and you'll piss off the hawk.
• 22:03
  Alright.
• 22:04
  Well, we're just gonna have to leave
• 22:05
  that fucking guy from Kentucky.
• 22:08
  Let me just tell you this.
• 22:09
  I'll oftentimes as entrepreneurs, we try to dress situations to be something that they we
• 22:14
  want them to be when in fact they're not.
• 22:17
  We have to take a really clear crystal clear look at who we're in business with, what our
• 22:23
  business systems are, where our finances are, and be super honest.
• 22:27
  Because when we try to dress stuff up, we get ourselves in trouble.
• 22:31
  So, you know, it's, like, really truly be honest with yourself and find the help that you
• 22:36
  need.
• 22:37
  Like I said, through mentorship, whatever you need to and eventually you'll get there.
• 22:42
  Alright, Melanie.
• 22:43
  I I feel like you was preaching on this podcast tonight.
• 22:46
  Thank you to business coach Melody Greena.
• 22:48
  If you wanna learn how to build new revenue streams, she is the right one to call.
• 22:53
  Go to she's creating an empire.com.
• 22:56
  And if you're interested in learning about what kind of boss you might be, head over to boss
• 23:02
  quiz.com.
• 23:03
  It's not a quiz.
• 23:05
  It's actually gonna give you a twelve page business assessment about what is gonna be the
• 23:09
  right type of business for you.
• 23:12
  I'm Melinda Emerson, the small biz lady, and I am so glad that you spent time with me on the
• 23:17
  small biz chat podcast.
• 23:19
  And I will leave you with this.
• 23:20
  You never lose in business, either you win or you won't.
• 23:24
  God bless everybody.
• 23:28
  Thanks for listening to the small biz chat podcast with Melinda Emerson.
• 23:33
  Subscribe to this podcast, wherever you listen podcasts, and join us next Wednesday for more
• 23:38
  fantastic information and interviews.
• 23:41
  You can find more sources and small business success strategies by visiting Melinda's
• 23:46
  website succeed as your own boss dot com.
• 23:49
  Thanks again for listening, and we'll see you next week.