In this episode…you might get uncomfortable. I know it’s only recently that I’m not getting itchy when talking about MONEY with others.
But that’s exactly why today’s conversation is so important, especially for female entrepreneurs and small business owners.
You see, the less we talk about money, the bigger it looms over us.
The less we talk about money, the more shame and guilt is allowed to grow.
The less we talk about money, the more stories we make up in the absence of facts and data.
So today, I’m diving in to my personal money story over the course of my life and business at Molly Knuth Media.
We’ll unpack the money misbeliefs I held for decades and the people and tools that have helped me dismantle those misbeliefs in recent years to build healthy money systems and practices.
Molly’s Money Misbeliefs
- “If you do what you love, you’ll never work a day in your life”
- Lead me to believe that I shouldn’t charge much for the services and skills I provided to my customers
- “The harder I work, the more money I’ll make.”
- Lead me to launch programs/group trainings even when that wasn’t the best solution.
- Lead to scope creep under client contracts and overperforming in my duties.
- “If I make more money, everything will be fine”
- Lead me add team members to provide more services and client support.
- Lead me to add more clients even when I was stretched thin or things weren’t always aligned.
- Lead me to offer additional services even when they weren’t in my Zone of Genius.
- “I’m just not good with money”
- Lead to belief that money was outside my grasp.
- Lead me to ask “where did it go?” when I knew my business was bringing in monthly revenue.
- Lead me to ask “how do I pay off debt?” because I still had debt in my business even though MKM generated revenue.
- “Scale, baby, scale”
- Lead me to believe that the only way to have a “successful” business was to have a “growing” or “big” business.
Molly’s Dismantling of her Money Misbeliefs
- Mantras
- Working with a certified accountant and money coach (linked below)
- Changed my billing and monthly cash flow systems
- Defined my own version of success
- Signed up for Small Business Money School with Gina Knox
- Made hard choices and Changes
The Results
- I’m still working on it!
- MKM is currently making less overall revenue in 2024 than 2023 or 2022 (at time of recording, revenue in 2024 was down 39% YTD from 2023)
- 51% more profitable (at time of recording)
- I now know where my money is and what its job is each month and week.
- I now know the circumstance – feeling – thoughts – beliefs – actions cycle is real, and you must work on your money mindset as much as you work on the tactical money management and growth methods.
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