Money Mindset Shift with Rhonda McAlister
In this week’s episode of the Sailing to Success Podcast Show, Lyndsay Phillips interviews Rhonda McAlister. Rhonda is the owner of McAllister Enterprise. She helps entrepreneurs reposition their mindsets about money consciousness so they can leverage multiple streams of income.
MAIN QUESTIONS ASKED:
- What is money consciousness?
- What are the most common beliefs about money?
- How do your beliefs about money affect your business and income?
- What mindsets do we have that we should be aware of?
- What other beliefs do we have that hold us back?
KEY LESSONS LEARNED:
- Being conscious about your money means understanding how money works for you and how your life relates to wealth.
- Most people believe they can’t acquire wealth.
- The principles of money aren’t usually taught to us.
- Many of the issues in your business stem from your beliefs about money.
- Track your daily spending, that way you can know where it’s going.
- You need to separate your business accounts from your personal accounts.
- Most people don’t believe they can escape debt. Very small steps can make a huge impact on your debt over time.
- You need to have the right systems to manage money in your business.
- You should try to create multiple streams of income to your business.
- You don’t have to go it alone when it comes to business, the most successful people have a team behind them.
- You need a growth mindset instead of broke mindset.
- Surround yourself with people who have what you want and have been where you want to go.
- Entrepreneurs under value their services all the time. Price your offerings for value, people will buy what they want.
- If you have the drive to educate yourself and learn your money consciousness will shift. Be patient, it takes time.
- Your success may not come from your inner circle, you have to find the support you need from other sources.
Streams of Income
- Diversify your business offerings, business can be seasonal and having multiple sources of income will protect you from down times.
- Entrepreneurs usually think they can do everything themselves, get a team and outsource your weaknesses. You can get much more done with a team.
- Look at what you already do and brainstorm alternative offerings.
- Plan your cash flow ahead of time.
- Don’t quit, perseverance pays off.
- Manage your cash flow before it becomes problem, multiple streams of income will help.
- Reflect carefully on your relationship with money. If you don’t know why you believe certain things it will be very hard to change those beliefs.
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