What It Means to Become a Money Magnet and How to Do It
TUNE IN ANYWHERE YOU LISTEN TO PODCASTS
Monica Shah on Money Attraction and How to Focus on Revenue-Generating Activities
Want to become a money magnet? Not sure what a money magnet is? We all want to bring in more revenue in our business, but sometimes it can be tough. In this episode, business coach and money guru Monica Shah is dishing out her best tips to start bringing more revenue into your business, what revenue-generating activities you should focus on, and how you can become a money magnet in no time.
Check out Monica’s website
Get the Money-Making Marketing Calendar
Her Entrepreneur Journey
Monica is a business coach that helps women double their income, but before her success, she wasn’t good with money. Within a year of starting her first company, she was $25,000 in debt. She started doing everything she could think of to start making money.
After an incident that made her realize that her business was running her and not the other way around, Monica decided to make a change. She realized that there are so many resources for businesses, but very few that tell you how to actually make money consistently. It took her some trial and error, but she discovered a process that worked, paid off her debts, and doubled or tripled her income every year after that. A few years ago, her coaching company crossed 7-figures in revenue, and she’s been teaching people how to make money in their business every since!
I was working 80 hours a week in my business just to avoid working 40 for someone else.
What is the process of becoming a money magnet?
It’s a fun way to think about “how do I attract more?” both from an energetic and an action perspective. You want to look through the perspective of being a container for your money. What do the voices in your head say when it comes to money? Start asking yourself what money looked like, how it was spent, and what was said about money when you were growing up. These money voices in our head can drive us to take actions (or not take an action) in our business that actually repels money. Any belief is a decision, so you have to make a new decision for the money voice. Before anything else you have to change the things that you believe about money.
Once you’ve started to reframe your mindset around money, then you have to start taking the actions to do what is required to become a money magnet. You have to start taking the actions to make money. The #1 way to make money (and technically the only way to make money) is to ask for it. You ask for money through some sort of sales conversation, either in a one-on-one conversation or through a one-to-many offer or ask. If you’ve gotten to a Friday in your business and you haven’t asked for money all week, for all intents and purposes, your business was closed for the week. We get caught up in the doing of things that don’t make money (updating your website, redoing your calendar, reading, etc.) You have to focus on the direct revenue-generating activities.
If we’ve done the mindset work but still have cash flow issues, what do we do?
Start with revenue tracking. Take a piece of paper and number it 1-31 (for the days of the month). Every day that you bring in money mark it for that day (so if it’s the 5th of the month and you brought money in that day, put the amount beside the “5”). On the days you don’t make money you put down $0. You add it up as you’re going and at the top of the tracker you put either a 60 or 90 day goal for how much revenue you want to bring in during that period. This activity keeps you focused on the revenue and makes it a challenge for you to find creative ways to make money today and tomorrow to get closer to your goal.
Stay tuned for new episodes of Females on Fire every Wednesday and Friday!
Love this episode? Your feedback would mean the world to us!
Want more from Females on Fire?
Grab your ticket to the Females on Fire Conference to join us live and in person for 2 days of business and personal growth!
Join the Fire Starter Club to get exclusive trainings, resources, live networking and co-working calls, and more!
Join the Females on Fire Facebook Community to get first dibs on freebies and announcements, plus meet some other amazing ladies like yourself!
If you enjoyed today's episode, please
Text 'PODCAST' to (910) 541-9177 to be first to know about episodes and even text in your questions about the episodes!
Post a screenshot from the episode on your Instagram Stories and tag @hayleyluckadoo & @femalesonfire so we can repost you!
Leave a podcast rating/review on Apple Podcasts or Spotify.
Subscribe for new episodes every Wednesday and Friday.
Enjoy these offers from our affiliate partners:
Get 50% off Flodesk for life for beautiful email marketing
Run your online business the easy way with ThriveCart
Use code ‘FEMALESONFIRE’ to get 10% off your supplements order at GutPersonal
TOP CATEGORIES:
