Welcome to the Mindset Bay podcast.
If you want more confidence and motivation then you're in the
right place every week at your dose of self development advice
and strategies. I'm your host Perry Richardson,
life coach, N OP practitioner, motivational speaker and mental
health advocate. My mission is hope you find more
happiness and take more action in your life.
Now let's begin. Hello, hello, hello babe.
Welcome to the Mindset Babe podcast.
Are you building a business or thinking about starting one?
This episode is for you. In today's episode, I am sharing
my best advice and lessons when it comes to building a business.
I just celebrated five years in business on February 4th and I
want to talk about my lessons, things that you need to know,
things that I wish that I would have known and honestly, the
real truth about entrepreneurship, building a
business, especially as a woman and what it takes to be in it
for the long haul, how to have success.
So I'm so excited for today's episode.
It's going to be a 2 parter today.
I'm going to talk about like my best advice when it comes to
like starting a business and then next week's episode, well,
episode dropping on Friday. If you didn't know, I drop
episodes every Tuesday and Friday.
So if you're listening to this at the time of recording, this
is a Tuesday episode. But on Friday I will drop Part 2
talking about what it takes for long term success and just a
different angle from starting a business versus when you've been
in a business for a year or more.
So excited to have both perspective like the beginner
versus like the intermediate. So I'm so excited to have two
parts for you guys celebrating five years in business.
Time flies. I can't believe it's already
been five years and so excited to drop these episodes for you.
I don't talk about a lot of business stuff on the podcast,
but I know there are some entrepreneurs, there are some
bad ass women who are listening to this right now who want to
make money and create their own empire.
So let's dig in. Let's talk about the best advice
for women starting businesses. And I wanted to do this episode
because after five years in business, I've learned that most
women don't quit because they lack talent OR smartness or
potential. They quit because no one warned
them what it would feel like to build something, to build
something their own. We talked about strategy,
mindset, we talked about success, but we don't talk about
the emotional risk, the rejection, the lack of support,
the slow, invisible seasons. And especially as women, we
often are taught to be likable and agreeable and act a certain
way. And so today I'm sharing the
hard lessons that I've learned from building a business, not to
scare you, but to really ground you and to let you know this is
a part of it. I love being in communities with
other entrepreneurs and other business owners because it just
makes it feel like, oh, this isn't just me.
I'm not worthy, I'm not capable, I'm not smart enough.
This is just a problem that entrepreneurs have.
So I'm so excited to do this because when you know that this
is a normal part of the process, it's so much easier to take
action towards your goals. All right #1 people might not
support you, people might not support you.
And sometimes this is shocking at first.
You start something you're excited about, you share it with
your friends, your family, people you known for years.
And their response is silence, maybe some negativity, maybe
they ask what are you doing? Who do you think you are?
You think you could really do this?
Maybe you should go back to school.
They are excited for your new adventure, your new business.
And it's OK because your friends, your family, they don't
need to repost you. They don't need to purchase from
you for you to have a successful business.
There are so many other people that want your product, your
service. There's so many clients
available for you and they don't need to be your family or
friends. And sometimes it sucks.
Like it, it sucks and it's disappointing.
I remember when I first started my business, Oh, you're starting
the podcast. That's cute.
And even today, like, oh, you're still doing that.
And sometimes the people around you don't take you seriously,
and that's OK. It's opportunity for you to take
yourself seriously. And a lot of people think it's
either my business or my family, my business or my friends, my
business or my health. It's A and situation.
You can have your business and a healthy relationship with your
family, with your spouse. You can have a successful
business and you can still thrive in your health.
You can have a successful business and whatever you want.
It's a part of your life. It's just a small section of
your life and there's still so many possibilities that you can
add on to your amazing life. But just because you lack
support from the people around you, it doesn't mean that
business isn't meant for you. It doesn't mean you're
embarrassing yourself. It doesn't mean that you should
stop. It's a part of building a
business. Not everyone is going to be
excited for what you're doing and what you're selling and what
you're marketing and what you're talking about.
And it's OK. You have to be excited for what
you're doing, and then you will find other people who are also
excited. There's so many people waiting
for your offer, waiting for your service.
You don't need everyone to support you for you to make a
lot of money. You don't need everyone.
You just need a few people. OK, so that's lesson #1
something you need to know. People might not support you,
but it's OK. It's a part of growing a
business and being entrepreneur. Lesson #2 you have to be willing
to take risk. Business is risky emotionally,
financially and with your time emotionally, with the fear of
rejection, the fear of judgement, someone telling you
no disappointment, shame, guilt, frustration.
There's a lot of negative emotions that come with
entrepreneurship. Financial risk.
Financial looks like buying investments before you know
you're going to get that revenue in investing in programs that
don't get immediate results, spending money without
guarantees. I remember there was this one
time I invested in affirmation cards.
I created like a 20 card affirmation card deck and when I
got the cards, the material of the cards are so bad like they
scratch up and I couldn't sell them.
Like, honestly, the quality is so bad and I got a 50% refund,
but I still spent like over like $200 on these affirmation cards
I thought were gonna hit so amazing.
I even, like, sold them on like Black Friday and I made a couple
of cells and I was using them and I'm like, Oh my goodness.
Like, no, like I cannot sell these.
And these affirmation cards are sitting on the floor in my
office. I still have them, but I had to
take that financial risk. Live and learn.
I won't be doing that again. But hey, like, you have to take
risk. And it was a risk that I took.
Another risk is the risk of your time.
You put a lot of time, energy and effort upfront before you
see any profit, before you see any money coming in.
And so you just have to know that your time isn't wasted.
It may seem like it's taking forever.
I'm a huge believer in the law of cause and effect.
For every cause will have an effect.
Every action you take will have a result.
But there may be a delay. Just because you take action
doesn't mean you're going to get the results right away.
It's because you run on a treadmill for 10 minutes doesn't
mean you're going to lose 20 lbs.
It takes time and effort. You have to know that you are
risking some of your time. And I also wrote down like after
work I take my client calls and on the weekends like I work like
I use my time to work on my business instead of just coming
home and hanging out with my husband as much as I would love
to just cuddle on the couch all day.
Like even that is a risk, right? And not saying I'm risking a
relationship, but that is something that you need to think
about and be knowing. Like just knowing that is a
potential that you may have to use your time of building your
business instead of hanging out with your loved ones.
And not saying that it's not an and situation.
I still spend lots of time with my husband.
I spend intentional time with him.
We do amazing things like we just spent a whole 5 day cruise
together in Mexico. But if you want to be a
successful entrepreneur, you're going to have to use your time
to building your business. And then I saw this quote
online. I love it so much.
Risk is the emission price for freedom.
We have to choose business over comfort, and we have to choose
growth over ease. There is no reward without
exposure, and every single reward comes with great risk.
So that's lesson #2 you have to be willing to take risk #3 there
is no such thing as an overnight success in the industry,
especially running an online business.
There has been a lie, a lie that has been going around that you
can make easy money, that you can make passive money, quick
money, that you can make 6 figures and 12 months.
But let me tell you the truth and something I wish someone
would have told me way earlier. Most small businesses take two
to three years to become profitable.
It took them two to three years to start making money and then
to have like sustainable money, to have sustainable, consistent
revenue often can take 7 to 10 years for a business to maintain
that. And most people, they don't make
it that far at all. Nearly 40% of people quit within
their first year of business and another 31% quit within the
first six months. And because you don't see the
profit, you don't see the revenue, you don't see all the
money just coming in quickly. We've been sold a lie that it's
just going to come quick. But in reality, it can take two
to three years for you to make good consistent revenue, maybe
even 7 to 10. It took me about 2 1/2 three
years to make good money in my business for it to be consistent
every single month. But the first two years it was
hard. I was just trying to make things
work. And then I finally found what
was working. I finally found a process that
worked for me by trying and failing and trying and failing
in finding a product and an offer that sells and makes good
money. And so it may take time and it's
OK. And that's really what what I
wanted to talk about in this point is businesses.
Creating a business, creating an empire will take time.
I know that's not what you want to hear, but I think you need to
know going into a business that you're not going to have, you
may, you might, you may be that 1% that has amazing huge
success, but if that's not you, nothing has gone wrong.
This is building a business and it's OK, can take two to three
years. You have just no upfront.
That's the time frame you're committing to.
So just know going into business, creating your own
empire and changing the world may take three years.
And just know that's the time frame.
And honestly, it may take 7 to 10.
That's what the stats said on Google.
Hopefully not, but just know you are going to be up for two to
three years before you hit the success you're truly looking
for. So that was lesson #3 there's no
such thing as overnight success. Lesson #4 time and effort are
required. I see this consistently.
I'm in a lot of communities of online business owners and
entrepreneurs that they want to build a six figure business, but
they only want to work 10 to 15 hours a week.
They have a nine to five job, but they're not willing to work
before their shift or after their shift or on the weekends.
They just want it to just happen for them.
They just want to post 2 three times a week and for the money
to flow in. But true success comes from
time, energy and effort. You have to put in the time, you
have to put in the energy and you have to put in the effort to
have this thing work for it to replace your full time salary.
Like if you want this to be your main gig, you don't want it to
be your side hustle anymore. You have to put in full time
hours, not side hustle hours. You have to put in the work.
The other day I was driving and I was really thinking how I love
to work. Like I love hard work.
I love going to sleep at the end of the day knowing that I did so
much, that I was productive. And I did that and I did this
and I did that and I did that and I did this.
And I was like, yeah. And I just feel so accomplished
and so proud of myself. Like working hard feels good.
And I love to work hard. And as entrepreneur, you're
going to have to work hard. You're going to have to increase
your worth ethic. You're going to have to show up.
Time, energy, effort. You're going to have to show up
for this that you're building. And so I know what you're
thinking. You're like Perry, but I don't
have the time. If you did find the time, where
would it come from? If you had to find the time,
where would it come from? There's so much time available
for you. You just need to reallocate your
time. Is it doing it in the morning,
on your breaks, at lunch, after work, on the weekends, taking a
day off? Whatever it is.
But are you willing to make time for your dreams?
Are you available for that? Because if you want success, if
you want achievement, you have to put the time, energy, and
effort for it. So that's lesson #4 time and
effort are required. Lesson #5 the very last lesson,
the best device for you, at least in this episode, again,
I'm doing Part 2 really talking about more like the strategy of
being in the business for like a couple of years.
But the last thing I want to share in this episode for you,
every no leads to a yes. Every no leads to a yes.
And this is where like most women emotionally give up in
business because hearing no in the rejection and the
disappointment is so hard. Like when you think about
running a business, you think about all the yes, the yeses
that you're going to get and all the success you're going to
have. But in reality, people will tell
you no. People will tell you, I have to
think about it, and then nothing will happen.
Then you'll reach out again and then they'll ghost you.
And a lot of us take it so personally that we end up
quitting our businesses. But I want to let you know this
is a part of it, and it's actually a part of a math
equation. I learned this couple years ago.
I took this coaching membership and they talked about like all
areas of life and it was like building a business, but it was
the sales equation and it just made it so obvious and just like
comforting to know that I wasn't the only one getting no's and
getting no's is a part of it. So I want you to get a pen and
paper, pen and paper. Are you ready?
You need to know this if you're going into entrepreneurship, if
you're planning to run a business, Are you ready for
every no? So no minus for every yes equals
revenue no's. Minus yeses equal your revenue.
For you to get revenue you have to get no's and you are more
likely to get more no's then yes's.
Getting Nos is a part of the money making formula.
How we make revenue is Nos. The Nos we get minus the yeses
we get equal the money in our bank accounts we want to get Nos
because the more Nos we get, the more yeses we'll have, the more
money we will get. But also, every no sharpens your
message, every no teaches you something, and every no moves
you closer to someone who is ready for you.
Rejection isn't proof that you're bad at business, it's
proof you're in business. Congratulations, you're in
business if you're getting Nos, if you're getting yeses.
It's all a part of it. And you only hear no when you're
showing up. Like, think about that.
The fact that people are even rejecting you is a celebration
because it means you're showing up.
And that's a huge win. Every no leads to a yes.
I told myself this all the time when people ghost me.
Every no leads to a yes. When people schedule consoles
but don't show up, every no leads to a yes.
When people tell me no or I'll think about it, every no leads
to yes. I'm just getting closer to find
my person who wants to work with me, who wants to learn these
live coaching tools. Every no leads to a yes.
Those are the top five Lesson's the best advice when it comes to
running a business in five years.
I really thought, like, what are the things that I wish someone
would have told me when I first started?
So here's a little recap of the lessons.
All right, lesson #1 people might not support you and it's
OK. Lesson #2 you have to be willing
to take risk. Oh, my goodness, I literally
just deleted my whole list. What's happening?
Oh my goodness. OK, so I'm pretty sure the third
one was time and energy is required #4 there's no such
thing as an overnight success and #5 every no leads to a yes.
That's what I have for you in today's episode.
If you enjoyed it, make sure you leave a five star review on
Apple Podcasts and Spotify. Follow for Part 2.
I'm going deeper and building a business, especially like as a
seasoned entrepreneur. If you've been in business for a
couple years and you still feel like it's hard, you're not
grasping it, you're not where you want to be, make sure you
listen to that episode. But also if you're a beginner,
you need to listen to the episode.
Also follow the podcast, follow me on Instagram.
The Mindset Babe, I would love to connect with you there.
I have a whole community on Instagram.
I have a broadcast channel you can join on Instagram.
I would love to have you and I also have a free guide.
It's 22 journal prompts for clarity and confidence.
You can go ahead. You can download that for free
in the description box. I love you guys so much and I
cannot wait for Part 2. Bye.
Thank you so much for listening to the Mindset Babe Podcast.
If you are looking to get more confidence and take action
towards your dreams, then I want to invite you to work with me
Ioffer private one-on-one mentorship.
This mentorship will teach you everything about goal setting,
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show notes.