I am recovering from my first live "away" event - Monica Shah's Money 2.0 event. Part of the program had us identifying ourselves as Money Avoider/Dreamer, Spender, Saver, or Martyr/Nurturer. Then we had to advertise it with a sticker on the name badge. Come to find out that most of our money habits have to do with our parents' relationship with money. Yikes.
How's that for an icebreaker? "Hello, I'm Wendy, I'm a spender from my dad and a saver from my mom. Would you like to know more about my childhood over lunch?" Let's just say that we got pretty personal pretty quickly!
As I connected with dozens of other attendees, one thing struck me. Almost all the women said they were X, or Y, or Z. There were a few avoiders in the house. But for all the spenders, savers, and martyrs, most of them were also avoiding money in their business. When I mentioned I did QuickBooks consulting, there was an embarrassed grimace... "I know I should be using QuickBooks to keep track of my biz..." Great for my business, not so great for theirs. I've got something that could help.
Aside from that revelation, I thought I'd share a few highlights of the 3-day event.
- Money Mondays - Use Monday as your marketing day. Schedule out your social media posts, write your newsletter articles, schedule sales calls. No project work, no client work on this day. Focus on marketing only! Start the week on the right note!
- Schedule Sales Calls often - If you haven't asked for money (in the form of a sales conversation) during the week, your business was actually closed... Pick up that phone!
- Money Loves TLC - Give it the attention it deserves. Keeping a list of money coming in each day keeps you accountable to yourself. It's tough writing down that you earned zero dollars in a day. There's your motivation to pick up the phone for another sales conversation.
- Just decide already - Your business grows at the speed you make a decision - What an eye opener this was. Indecision kills your motivation! How much time have you wasted dithering over small decisions? I know I've suffered from this. It's so freeing to make a decision, then move forward with action.
- Marketing efforts take months to pay off - Maybe even 3-6 months! Persistence is the name of the game here...
- Money stories were formed years ago - No pressure for those of us with young children, but attitudes and impressions about money are formed before 7 years of age! We can change our relationship with money by acknowledging the old story and writing a new one. It's an intense process, but really worthwhile.
This was my first live "away" event, and I've got to admit I'm hooked. The energy and sharing in room with 200 women was just amazing. Planning for my business, and other women's businesses, for 3 straight days, was also amazing. I was cooking up so many great ideas for my business, it felt like fireworks were going off in my brain. Not to mention connecting with so many women entrepreneurs. And being in a hotel and eating meals without a kiddo on my lap. I missed her like crazy, but really, it was nice to eat in peace!
So how does the spender/saver play out in my life? The short & sweet version is that saving dominates many decisions - retirement, when to buy new clothes, etc. Practicality rules the day - I get this from Mom. But I tend to be very generous in a few categories, such as giving, dining, etc, which comes from Dad.
My daughter is a highly impressionable almost 3-year-old, so I have to think carefully about how my relationship with money plays out in front of her eyes. At least I've got another 4 years to get it right!