Are You Wimping Out?

Hello, everyone. I'm Katie McManus, business strategist and leadership. Okay, I'm getting circle of death. Oh, Is it working? I think it's working. Okay. All right. Hello, everyone. I'm Katie McManus, business strategist and leadership coach. Sorry I had a little blip in my Internet there, but we're back. I'm so happy to be talking with you this evening. I took a few nights off. I hope you don't mind. I had my birthday weekend and kind of wanted to just refresh and revive from it. You're now hearing from a 33 year old. How crazy. But anyway, that is not what I want to talk about tonight. I want to talk about the number one thing that I use, the number one question that I used to tell if you are wimping out on yourself. And in the synopsis of this live, I talk through this. So I ask this question all the time. It's just the nature of my job. And hi, David, welcome. And for those of you who are watching, if you're watching on the Facebooks, LinkedIn, YouTube, I do like this to be interactive. So if you comment, I love to shout you out, but if you comment and I don't, it is not you. It is just the technology sometimes fails. And. Hi, James, welcome. Thank you so much. I did. It was a beautiful birthday. But this question about how I tell if you're wimping out on yourself is so telling. And let me tell you how it goes. Usually I'm on a call with someone who is thinking about working with me and I'm seeing if I want to work with them and I will ask them very, very straightforwardly. And Hi, David, Corey, nice to see you. And thank you for the birthday wishes, everyone. I will very straightforwardly, how much money do you want to make? Which is kind of a blunt question to ask, but I'm a business strategist, so I get to ask that because I get to see if this is a business that I actually want to help build. And so the answers just tell me so much about whether someone is wimping out on themselves. And I will tell you, most people, 95% of people have two answers. The first one, and I will act it out for you. The first one is, oh, well, I don't know. I'd be fine with, I don't know, like maybe 40,000 a year. Like that would cover my rent and it might cover electricity and yeah, like I could live off of that. That would be fine. I'd be okay with 40,000 a year. I don't know anyone who can live off of 40,000 a year. Do you guys know anyone who could live off of 40,000 a year in the United States, especially major cities where a lot of my, My cl. No, the second answer, David. Yeah, it is. But you know, when you're being put on the spot for your business, for a business that is just a dream and a hope and a thought in your mind, it's really hard to believe that you could make more. And so the second answer is always the best. This is the one that I go after. I'm like, yeah, yeah, yeah, that's bullshit. I don't want to hear that answer of what you'd be okay with, okay? I want to hear the answer that would light you up, that would make you have the, that would allow for you to have the ideal life that you've always dreamt of. It doesn't have to be elaborate. It doesn't have to be multi million dollars every single year. But what would that number be? And this is where they get really shy and they're like, oh, yeah, so and their, their volume goes down, you know, like, well, you know, like maybe like $150,000. And it's like, they whisper it like it's sinful. Like it's bad to want six figures as a salary for a job that you do that you devote all your time to, like, and, and here's. Oh my God, there's so much to unpack here. So here's where it comes from, is we're raised in a system that teaches us that our hour is worth a certain amount, okay? Because that is how employers determine how they're going to pay a lot of their salary or a lot of their, their employees. The salary for the employees. I'm tired. It's been a long week. Anyway, so, so we're taught that our hours worth 40, 50, 60, maybe 100, maybe $150 an hour, okay? From a job. And then we take that and we think, okay, well, if I'm, if I'm running my own business, working 40 hours a week, not all that time is going to be paid because I'm going to have clients, but I'm also going to have to do back end stuff. So, like, if I'm only worth $40 an hour, then do the math. That's. And then they reverse engineer or they engineer it from there. That is the mistake. David Corey. We're used to trading time for money. Exactly, exactly. So, and here's the thing about the universe Is that whatever you ask of it, it will give you. And I mean that in the metaphysical sense, but I also mean that in the literal sense. Okay. I had a friend who was applying for a job, and she was really hoping to get a higher level position. And so she started asking me what she should ask as a salary. And so I told her and she said, oh my God, I've never made that before. And I'm like, yeah, because you. You've never asked for it before. And the look of shock on her face and the, oh, yeah, I guess that's right. People, we need to ask for more money. We need to ask for more money. It doesn't mean that we're bad people. It doesn't mean that we're greedy, doesn't mean that we're Scrooge McDuck. We need to ask for more money. But we have this, this belief system that when you start your own business, like, you have to struggle. You have to make it really hard on yourself. And it's really, really easy to create that for yourself. And I see it all the time. Oftentimes someone will come to me after a year of trying to make their of sweat and tears and blood, and maybe they have a few clients, maybe they have a few people that are paying them really low rates to work with them, and their confidence is in the gutter because they don't feel like they can ask for more. And also, these clients that they have, they haven't really accomplished much in working with them. I'm speaking specifically to you coaches out there because, like, they don't have any skin in the game. Okay? That's just it. They don't have any skin in the game. If I'm only paying $200 a month for a coach, I know me personally, I'm not even showing up to those phone calls. Okay? But for a lot of people, if they're only paying that, that's, you know, that's like a nice chat time, whatever. Like, do you have to take action on that? I don't know. Maybe if they had more skin in the game, they'd be getting more out of it. You'd also be feeling far more confident as a coach or as a consultant going out and saying, hey, you know, I charge a lot of money, but these are the results my clients get. By the way, your clients are only going to get results if they have skin in the game because they're the ones doing the work. You're just pointing them in the right direction. Okay, James Bogey. Oh, Carlos. Hi. Hi. From Brazil. Oh, my gosh. I'm multi continental continent, multi continents tonight. Thank you. Welcome. And James Bogey. I wanted to get to a point where I'm selling my skills and not just my time. Yes. And, James, this is the point I'm going to. Okay. People do not give a flying fuck what we think our time is worth. They just do not. Okay? If you tell me your hours worth $10, wonderful. If you tell me it's worth 10,000, wonderful. I don't care. What I care about is what that hour is going to get me. I care about what the transformation is going to be in my life if I give you that money. Okay? I don't care. And I'm actually going to value the transformation more if I spend more money on it. Okay? And I'm not saying just charge up the wazoo. Charge as much as you can. You know, screw people over. That is not what I'm saying at all. What I'm saying is you have to value the transformation that you offer your clients. Okay. So they actually value it. Okay. We're so people who start businesses. We are. We are just endlessly optimistic. Travis Lechner. Yo, yo. Coming from Colorado, I'm giving you a voice there. Glad to catch you live. Oh, I'm so glad you got to catch us, too. And welcome from Colorado. That's one of the states I've always wanted to go to, but have never even flown through. So hopefully I'll make it to Colorado someday and I'll get to see you. But. So when you start a business, you have this optimism because you think, okay, I'm going to start a business. I'm going to plan it, and I'm going to figure out how many clients I could have. And I love talking to new coaches and new consultants because they're like, oh, cool, yeah, I'll have, like 20 clients. I'll have 20, 30 clients. And I'll be carrying 20 or 30 clients all the time. And I'm gonna be really busy, and I'm gonna charge this much a month. Aria, though, 20 or 30 clients is a lot of clients to get to. And I can tell you, I work full time as a coach. I generally hover between 10 to 15. Okay. I don't do more than 15 because I don't have the time or energy for it. Less than 10. I don't like making that less money. So. So, so yes, yes, you can absolutely get that many clients, but it's really hard and it's a struggle, and you're going to be really discouraged. But if you start with the math of thinking of how many clients you're going to have and try to reverse engineer it from there, guess what? You're going to start getting clients for like $400 a month and you're only going to get five of them. Okay? So here you are making a fraction of what you had projected and not getting anywhere with your business. Still having to work full time in your job or panicking because you gave up your job to do this full time. Believe me, I've been there. You shoot yourself in the foot where you need to start. And I talk about this in my money map for coaches. There's a link to that in my about section in the featured posts. Just go and download that. It's free. It's a resource. It'll help you figure out how much you need to charge in your business. Okay? So darlings, I need you to stop wimping out on yourself. Stop settling for that okay number that will keep the lights on and nothing else. I need you to start owning that big number, that big juicy number that really isn't that big. Sorry to break it to you, but it's totally viable. You could totally make that that amount of money in your business. It is within reach. It is easier than you think. Okay, I need you to start going from that for that. And here's what you do. You take that big number, let's say it's $150,000. I'm going to open up my calculator because I am bad at math on the spot. Hold on one second. We're going there. Oh, and we have Travis and David connecting in the comments. That's lovely. Hi, guys. Okay, so we're gonna take $150,000 and we are going to to divide that by. If I can get this right, just. Yeah, let's just do a live where I play with a calculator and screw it up on live on a live in front of a bunch of people. That's not nerve wracking at all. Okay, so $150,000 divided by 12 equals $12,500 a month. Okay, so say you're like me and you hover between 10 and 15 clients at a time. So let's just be easy and let's just divide that by 12. Okay, so that means that you have to charge $1,041 per person per month. Okay, not that much. And Dave James Bogey the resource is in my featured posts on my profile page on LinkedIn. And if, if you don't see it, then I can send it to you also. But a thousand dollars, $1,000, give or take, that is what you need to charge. Okay? You are worth it. The transformation that you offer is worth it. And there are people out there who are willing to pay for that transformation. Okay? They are out there. Okay, you need, you need to figure out how to speak to them. Well, first you have to figure out who they are. If you don't have a niche, you need a niche. And when I say niche, I don't mean you need a demographic of a gender and an age group and a type of job. No, what I mean by niche is you have a type of person who has a certain set of problems. It could be their weight. It could be they hate their job. It could be they want to start a business. It could be they want to become a pro golfer in their 60s. I don't care what it is. They have a set of problems and you are catering specifically to that and to the transformation that they want instead. Okay? You need these things. If you don't have these things, you're never going to build a business. But the number one step, the one thing that I need you to figure out for yourself is that you have this, okay, number that you can survive on. You need to give that up, okay? Because if you hold out for that, if that is even anywhere near your mind, if it's within a 10 foot radius of your brain, that is what the universe is going to give you. That is what you're going to end up asking for and you are worthy of so much more. Okay? Start thinking about what that real number is, how much money you actually want to make. And notice where shame comes up around this. Okay? Notice where you make yourself a bad person. Or notice where you start thinking about, well, if I make this much money, here's where the problems are going to pop up, okay? That is your voice of doubt. That is your saboteur. It's trying to get in the way of you doing anything exciting or risky or on purpose, okay? That's its job. It's to keep you safe. Let me see. David. Corey. Sorry I can't stay. Katie. Going great. Oh, thanks, David. I'll talk to you soon. And James, there is so much money in helping people with ADHD overcome executive dysfunction. And I feel like people are leaving it on the table. James. Oh my God. As someone with ADD who has ADD clients, I talk about executive dysfunction all the time. Yes, absolutely. And you could be one of those people. And for those of you who aren't in the ADD land, you're lucky you don't have to deal with this. But look it up. It's actually really interesting. If you have friends and family with add, it'll make you far more understanding of what they go through just to get simple things done. Anyway, stop wimping out on yourself. That's the main message from tonight's live that I want you to walk away with. Go after what you really want. There's nothing wrong with wanting more, okay? Money is not pie. There's not limited amount in the world that if you have more of it, it means less for other. No, money is just energy. Money is energy, just like love is energy, okay? We can create it, we can give it, we can receive it. It is just energy, okay? When you exchange a service for energy, like, you literally do that every single day. If you go to work and you receive money, what do you. What are you buying with that money? You're literally buying food, you're buying electricity, you're buying a home, okay? You're buying a place to live that is all energy. So if I made $100,000, there would be nothing I want that I could not afford? Yes. Amazing. And $100,000 is so easy to get to. A business that goes to $100,000, that is its first goal, is easier to build than a business that's trying to get to $50,000. I swear to God, I've been helping people build businesses for three years now. It's true. It's true. I know it. I live it. $100,000 business is far easier to build than a $50,000 business. So way to go, James. Thank you for sharing that and I so support you in creating that for yourself. Anyway, stop being a wimp. Stop being a weenie. I have to get my tagline in there and start owning what you want. And if you need a little journaling to figure out all this baggage you have around money and why you're making it wrong to want more, start writing, I believe, and just start writing all of your beliefs about money and what it means to have a lot of it. Some really interesting things will come up. Anyway, I'm Katie McManus, business strategist and leadership coach. I can hear my puppy having a temper tantrum downstairs, so I have to go. But thank you everyone for joining David Mumford. Stop wimping. Yes, exactly. Hashtag stopwimping. James, thank you for joining David Travis, Carlos from Brazil. Who else am I missing? I think I got everyone. Thank you for joining me this evening. I look forward to catching you all tomorrow. Okay. Have a great night. Bye.