One money habit that will FU*K your business

All right, this is one of the biggest things that fucks coaches over when it comes to growing their business and making things sustainable. And honestly, this just doesn't even only relate to coaches. This is really to any business owner. And I'm really, really passionate about it, and it, it just fires me up. And when I see people do— when I see people do stupid shit that I'm— in my mind, stupid shit that I'm about to say It's just like, I'm just like, do you understand how much harder you are making this on yourself? Like, honestly, do you understand how much harder you're making it? So welcome to another freaking driving in the car podcast. The reason I do these in the car, by the way, is actually just because— or I'm walking or in the car— because I actually have, I have free time and it just allows me to create content when the freaking inspiration comes to me, and it takes me no extra time. Like, I'm driving to Starbucks either way, right? I'm walking outside and hitting my tanky steps either way. And so I hope you enjoy this stuff. It's very off the cuff. The audio is probably not perfect, but it is what it is. So, about to drive to Starbucks to get one of my favorite orders, which is an almond milk latte because I'm a prima donna, and peanut butter cups, Justin's peanut butter cups, love them. Anyways, and I'm listening to this Dan Martell podcast, and he's talking about how, like, he's like, it was some podcast, it was titled like, you know, "Things That I Know Now That I'm 44 That I Wish I Knew in My 20s," or something like that. And one of the things that he is talking about— okay, give me a second here, guys, as I shift gears. Okay, I have a standard, which is uncommon, I think. But anyways, one of the things he's talking about is like, he's like, I had a million dollars in my bank account and I was still driving a 12-year-old Volkswagen Jetta. And herein lies the gold from this podcast, I hope, for you. But I see a fucking pattern. Pardon my French. I see a pattern. You see people— and I'm not saying that this is everyone, and this is just, you know what, this is just true for me. It works for me. Obviously it works for people like Dan Martell and Alex Hormozi and Jeff Bezos as well. He told that story in the podcast. But it's like, so, you know, you know, if you don't want to do this, fine, don't do it. But I'm just saying it works for us. I feel pretty good about where I'm at in my life, and those guys are infinitely more successful than me. And the thing is, they, they just don't They just don't get fancy. They just don't spend a lot of money on dumb things. Whenever I see people with a car payment, I'm like, holy shit, you know what that looks like to me? It doesn't look like a car payment. It looks like shackles. It looks like you are chained to doing shit that you hate because you can't get out of it. You can't leave the job that you hate because you have to pay off your car payments. You can't leave the job that you hate because you picked the most expensive house ever and you don't have anyone renting it and it's not giving you any cash flow. And your mortgage is $4,000, uh, a freaking month, right? And oh, I just hate that this is like normal. It's like normal to do these things. It's normal to like buy expensive stuff that you can't even pay for cash, that you need to take out all these loans for and whatever. And I'm not opposed to that, but I'm opposed to that when it doesn't get you farther ahead. Like, at least if you invest in a business coaching program At least you typically— I mean, there's obviously some bad ones, but at least you have the possibility of making money with that money. It's an investment, it's not an expense. And I hope you can feel the fucking passion in my voice as I try to deliver this, because it just literally— it just, it just— oh, it just, it just grinds my gears, honestly. And what I want to say about this, and this is one of the reasons, if I'm being so honest, this is one of the reasons I really relate a lot with Hormozy, and This is not something that I did to copy him. This is just like, this is actually, I was like, oh my God, I do this too. I love this about you. Right? But it's like, ah, he tells this story where he drove up to a mastermind in a Toyota Prius or something with a cracked windshield when he also had a million in his account. Right? And it's because you have to understand you're gonna have bad months in business. How are you gonna weather those storms if you're month to month? It doesn't make sense. And if you're earlier on and you're not even having good months yet, then how are you going to get the funds to invest in the things that you need to invest in to get the skills to fast-track the process so that you can make more money and raise your earning potential? Like, do you understand what I'm trying to say here? I sound really preachy, but I don't even care because I just want you to like grasp this. Here's some crazy shit. I was talking with a friend the other day. Her name's Allison. She's incredible. And she's like, she's saying like, it's not how much you make, it's how much you keep. And this is the point, guys. Like, when I was 25, I was waiting tables. I had never made more than $35,000 a year in my life, and yet I had a net worth of $100,000. I had $100,000 saved up, not because I made a ton of money, but because, because I was actually quite frugal and didn't spend it on dumb things. And that $100K was what allowed me to You know what's funny? I still like— I just hate going backwards with my income. And so it still stressed me out whenever I would have like a -$1,000 month. I'd be like, oh my God, this is the worst thing ever. But it gives me more options. It makes me know that I can take bigger risks because if I take the risk and I fail, I have a safety net. Like, I'm not going to be homeless, right? So anyways, my point with this is, please, God, just stop trying to keep up with the Joneses, you know? Like, just, you don't need to get fancy. You don't need, like, you know, like, I still film videos with my iPhone, for Christ's sake, right? I still drive— I don't even know what year this thing is. It's like a 2008. It's like 16 years old. There's probably $600 grand in my bank account. Like, for Christ's sake, please, I plead with you. Number one, if you aren't yet making a lot of money and you don't have the skills, Please stop spending your money on dumb things so that you have the excess cash to buy the skills. You can invest in the programs, you can find the mentors so that it won't take you forever to get where you are trying to go. And if you are already making money, here's my thing for you. Don't get cocky. Don't get complacent because not every month in your business is going to be amazing. You're gonna have good months, you're gonna have bad months, and you have to be able to weather those storms. And so, All I want to say here is that, oh God, like, please take something from this. And if you think this is way too preachy, then fine, never listen to this podcast again. But it's just like, reconsider what you're spending your money on. How much is your rent right now? I mean, we made like $77K last month in Canadian dollars. My rent in Canadian dollars is $750 a month. I live with housemates. I like— my car is worth nothing. I just bought a motorcycle. Almost didn't do it because I was like, uh, I don't like spending money. But I did do it. It was actually one of the greatest decisions ever. But I didn't buy a brand new Harley, which I could have, cash. No, I did not do that. I went and I bought a freaking Honda rebuild, for Christ's sake, that was like $3K. And if I was to sell that tomorrow, I'd get the $3K back, probably. I could maybe even make profit off of that thing. So that's all I want to say. Be a good steward of your money, okay? It's a resource. Be a good steward of the resources, because if you're not, that's when you have to start doing shady things. You have to start, you know, saying that you're going to give people refunds and then you can't because you have no money. You, you start making sales to people who you shouldn't make sales to because they're not a good fit. You feel stressed all the time and you make dumb decisions. That's how humans work. When they're stressed, you make worse decisions. So just stop putting yourself in these positions. Don't make business more stressful than it needs to be. And that's all I wanna say about that. I hope that this was helpful. I am now at Starbucks and so I have to leave you. But you know, if this was helpful, for Christ's sake, share it on, I don't know, Instagram or something and tag me or say something good about it, or I don't know, whatever you wanna do. Lots of love and I hope this is helpful. Okay, bye.