How My Money Mindset Shifted Everything for My Business

Chapters

• 0:00 Introduction to My Network Marketing Journey
• 21:29 Understanding Money as a Tool, Not a Destination
• 46:29 Shifting Mindsets: Embracing Abundance Over Scarcity

Transcript

Speaker 1: 1:31

Hey guys, welcome back to Laundry Room Diaries. I'm Angela McKay, your host, and today we're going to start talking, that real talk, and I'm giving you a little bit of a transparency into some of the mistakes that I made in my network marketing career, marketing for almost 17 years full time. I'm a busy mom of seven and let me tell you, when I started in my network marketing journey, I did everything that I coached today wrong, and I think there's a beautiful space of experiencing that so that when you're helping others accomplish and overcome, you know what it feels like. I always say I don't coach from where I haven't experienced, and so my mission with this podcast is to share those experiences and truly help the person that's in the trenches. Maybe you're starting your network marketing journey, maybe you're brand spanking new and you don't even know what to do, or maybe you've been there a while and you're feeling a little stuck. Regardless of where you're at, this podcast is going to help you kind of get those bite-sized nuggets of training and stories and encouragement and real talk to get you through to the next goal. And so today I thought let's start with talking about mistakes that I've made in my business.

Speaker 1: 2:56

Now, this isn't going to be just a one and done podcast because, a friend, I have made many mistakes, but I think one of the earliest mistakes coming into network marketing was why I chose network marketing. See, in the beginning, oftentimes when you're starting a business, you're looking for a solution, and it's a monetary solution For us. We live transaction to transaction in our boutique business and a recession. I had my seventh child on the way. Life was crazy and you know, I felt burnt out as a mom and I was not getting the mom time that I wanted, with that American dream of turning on an open sign and owning my own business. Because in a brick mortar business, when the economy's bad, you know what happens Nothing, nothing happens. And so I was literally trying to take the money out of my cash register, keep my business open, being my own employee and taking care of a family of nine, and those were some hard times. And so money was my motivation. When I saw that I could make money and I didn't even understand how I was like what if I actually tried?

Speaker 1: 4:06

But my mindset with money was not where it needed to be in the beginning and that was probably one of my first mistakes in my business was my money mindset, and so today I really want to unpack that and talk to you about, like, what is money to an entrepreneur and what it's not? Because so often people place emotion or emotional goals wrapped around a monetary, you know destination, like if I become a millionaire, my life's going to be great. Well, friend, I have made over a million dollars. I've made multiple millions in network marketing and it's not always great. Money is not a a destination for emotional happiness, satisfaction. It is a tool. It's a tool that's gonna allow you to have success in your life, taking care of the needs that money has to take care of, like paying for your mortgage or rent, taking care of your kids, putting food on the table but it cannot bring you joy.

Speaker 1: 5:10

Now, what I do understand today that my money mindset back when I started came from a space of scarcity and lack, and so when I was starting, I would have a big goal of I want to make blank in my business, and then I would hustle hard and I would burn out fast, and it wasn't until I learned to attach purpose to my goals. It wasn't until I understood that I needed to define what that money was going to do and understand money as a tool, that things changed and shift in my business and, thank goodness, I started to become a student. I picked up a book for the first time really since college and I started to read personal development books, especially in John Maxwell's category, and I really started to work on my mindset. And so I encourage you, if you're brand new, or even if you've been here a while in the network marketing space, take time to invest in your personal mindset, because it does matter. And if you're struggling with money, you're probably struggling in business. And so when I'm coaching clients today, sometimes they'll come to me and they'll say you know, I'm just not getting anyone to join my business, or no one's wanting to purchase.

Speaker 1: 6:27

And what we find out after you know a few minutes of asking some, you know, fairly intentional questions, I can usually pinpoint whether their money mindset is the problem, and oftentimes it is. It's because their relationship with money isn't healthy. Therefore it's kind of projecting on to those prospects, and so maybe they've told people like the products are so expensive and they feel that personally and so they're thinking everyone feels that way. Well, you have to learn to be very objective in business and not to make those decisions for your prospects or customers. Your job is to really give that information to them, and what they choose to do is up to them. You take the emotion out of the transaction and you literally start to get results. Now again, if your mindset is strong and you understand this, you can talk to anyone All of a sudden. Confidence goes up, conversions start to happen and conversations seem a lot easier. But if you're struggling with conversations and conversions and you don't have confidence, I guarantee you money. Mindset is where you're going to want to start.

Speaker 1: 7:38

Now I like to say things out loud. For me, affirmations are so important. I like to speak it, I like to put it around me, I like to write my goals down, journal it. I wasn't always that way and in fact when I started I didn't do any of that. But what I've learned over time is that when we're intentionally putting things in front of us, downloading them into our mindset and we're constantly focusing on the positive, then it starts to really come out into everything that we do. And so breaking down like the blocks of abundance was a very critical part in my business. I had to really start to understand that, like my, happiness does not define any kind of income in that realm. It's not about commas on a check that's going to make me happy. Money is a magnet and money is a tool. Money is nothing that's going to satisfy me. And at the end of the day, when we're all said and done and we go with the good Lord, hopefully in our life, it doesn't matter what we have. It's what we've experienced in our legacy that we've left behind. And so I think it's important to give value and help others win and understand that you know you've got to put a value on why you're sharing and serving others. That's not monetarily involved. You also, you have to understand that you deserve it.

Speaker 1: 9:07

A lot of people struggle with success because they don't feel like they can handle it if they achieve it, or that they even deserve it. And self-sabotage comes in. And let me tell you, friend, there was a time period in my life where I was my own worst enemy in business. I self-sabotaged and I struggled, but I was the problem, and that's a hard thing to think about and say out loud. But when you start to acknowledge and accept that, that's where growth can start to happen. And I started to see that every time I start to get to a successful point. I would just want to like almost implode on my business. I'd want to quit. I'd start, stop engaging, I would kind of unravel and I thought what is my problem and it was my mindset was success Like, what if I do succeed? What if this really does work? And the fact is is it did. It worked really well. It's blessed our family for many, many years now, but at the time the fear of success was greater than the fear of failure. And I don't know if that hits you right now, but if it does, I want it to encourage you because when you understand that you do deserve success, you were made for more in life. It changes how you show up in your business, it changes how you want to serve others in your business and, more importantly, you'll receive it with gratitude. And I think every single time something happens now in my day, I always I give glory to God and everything. Faith is in the foundation of my business and I literally say thank you, thank you God for that customer, thank you God for that team member, thank you God for that challenge, because I learned something today and it's in those spaces that has helped me become a better entrepreneur, a better person and a better leader and coach.

Speaker 1: 11:00

Now, you know there's a lot of people out there that are kind of like the rich jerks we call them. Right that they really don't. They don't utilize their wealth right, they don't, they just want more. Have you ever met someone who's like I want it all? Or they have a scarcity mindset. Well, you know, when you don't understand money and you look through a small filter, you might think that everybody's competition and and you might want to gatekeeper, hold back.

Speaker 1: 11:33

And in the beginning of my business I started to act that way. I didn't understand branding, I didn't understand that. You know, abundance was there. There was so much market to be had that we could bring in so many more people and we all could win. But when people come in to network marketing especially, it depends on their leadership. Maybe they have a leader that's like, hey, you got to go over here and unethically get people this way, or know we got to keep all our secrets locked down, and that is a scarcity mindset. That is not a recipe for success and honestly, if you're looking for mentorship, that's not who, at least I personally, would want to lock arms with.

Speaker 1: 12:19

But instead I learned abundance thinking, I learned about the fact that there is plenty, because God gives us so much in life. He gives us more than enough and when we walk and we look through the filter of abundance, we want to share and we want to care and we want to love people for where they're at. We no longer have to keep secrets or feel an ethical pulse in business and we don't have to feel like we're clenching onto money or have that negative mindset. And for me personally, that has been one of the things I've worked on so hard to maintain throughout my career is that you know truly celebrating each individual that you cross whether they're in your company or in your team or in your cross line, it doesn't matter right Like you want to be the type of person that is thinking abundantly and seeing others win, and when you start living like that, you find that joy in the journey.

Speaker 1: 13:20

And I think that's a mindset that a lot of people struggle with. And if that's something that you felt, like you've had to pull out. Like you know, maybe someone you thought should have joined your business team didn't join, oh no, and and sometimes scarcity kicks in. I used to feel that way and now I think like. Well, you know, my faith is in my foundation and God's going to bring me the right people in the right season. And I don't always know who those people's going to bring me the right people in the right season and I don't always know who those people are going to be and who I thought might be perfect for my business. Maybe isn't, for some reason, but I'm just going to bless and release that and there's a freeing that comes with that mindset shift and let me tell you, friend, that is a game changer. That is a game changer in your business. You know, you also have to understand that you have to decide, like to not participate in the negativity, and that's a big mindset shift. Right, that is a leadership move and that's a leadership development.

Speaker 1: 14:23

And so one of the mistakes when you get in early is sometimes you go into teams and chats and groups and you know there's always someone who might put the negative spin out there and you don't know whether, to you know, accept or reject that messaging. And you want to be a part of a community. You want to be a part of something. What I've learned in my business is is having healthy boundaries is so important and that you can be a part of a community without participating in anything that's not going to serve your business in a positive way, and I think understanding that and giving yourself permission is empowerment. And so you can start to see.

Speaker 1: 15:05

Like you know, when you start to work on yourself and when I started to work on my money mindset my confidence went up, my conversions went up, my growth in my business happened, but my growth personally also happened. I started to develop success mindset. I started to develop an abundance mindset. I started to develop an abundance mindset. I started to develop a servant mindset, and it's a trickle down effect in business as leaders, and so it's so key and so important to make sure that you don't make those mistakes that start to hold you back into scarcity or to lean too much on the monetary, to focus too highly on what I have and what you don't have, or questionably start to do business in a maybe an unethical way.

Speaker 1: 15:56

You have to really kind of ground yourself and ask yourself is this truly how I want to do my business? And I encourage you just to be fearless. Be fearless, start every single day with a decision, with your mindset on how you're going to navigate your day. Understand and get excited about the potential of what you hold in a business opportunity, no matter what company you're with. I think the best part about this is that you are truly the variable in your business. You can get up today and decide to make it a great day. You can literally pick up a business that maybe you haven't utilized for a while and start taking action in that business and see it start to shift and change your life.

Speaker 1: 16:40

That is probably the most beautiful part about network marketing that I found over the decade and a half that I've been a part of. It is that even though you can have a bad day in life, you can have a great day in business and you literally can start to make those decisions and shifts. And so it really does start with the foundation of not only faith but your mindset resting on faith and how you want to show up. You always are going to attract what you are, and so think about the impact of your business this year If you start to work daily on your mindset, maybe just with this podcast, taking a 10 or 15 minute listen in a car line if you're a mom, or after the kids go to bed or starting your morning off, maybe, you know, with prayer, meditation and then a little personal development, grabbing a notebook, writing some intentions down from each episode and then taking those those steps and tools and trainings that I'm going to be giving you here and start to apply them to your business.

Speaker 1: 17:40

I guarantee, friend, you're going to start to see a big difference in your business. You're going to do something with this that you didn't even understand and you're not going to wing it anymore. You're going to show up very intentionally, you're going to get very focused and, most importantly, you're going to find the joy in the journey, in the business life. I think, as we wrap this episode up, that is where I'm going to plant almost every single episode, because, at the end of the day, it's got to be about what you love to do and enjoying it. So make yourself an impactor, go out and make an impact and find the joy in doing both, and I believe that truly is the dream and the goal that entrepreneurs want in today's life. All right, guys, that's what I have for you today. I hope you enjoyed this episode of the Laundrom Diaries. Stay tuned for tomorrow for another episode, as we talk and unpack all things from the experience of a decade and a half as an entrepreneur, raising seven kids as a network marketing leader. Take care.