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Shownotes:

Welcome back, y’all!

We’re in part II of our 5-part series as we break down the D.R.E.A.M of DreamMoney™. In today’s episode we’re diving into the “R”, which is all around Reliable Money.

We’re breaking down the strategy, the beliefs, and the practices that help you cultivate it and I can’t wait to dive in!

Links mentioned in this episode:

• Ep. 28 Wild & Holy Radio: How & Why to Put Money First in Your Business
• FLOW ACCELERATED: Doors are open through August 4th!

• LEAP WEEK replays for just $297!

• Add your name to support the DreamMoney™ Blueprint launch at the end of August!!

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Transcript:

Hey, hey, y’all!  Oh my goodness, it’s been such a big week.  My 40th birthday was Monday and for the first time in YEARS, like literally 5 years – I woke up with a smile on my face with that childlike excitement I’m so used to feeling like “it’s my birthday”!  

If you’re on my email list, you know I shared that there’s been this huge life-challenge meltdown that’s happened the week of my birthday for the past 5 years straight so to finally be in this place where so many hard things feel behind me is something I’m so incredibly grateful for. 

Being at this vantage point now, I distinctly remember so many months feeling like I had lost some of my shine wondering if I’d ever get back to this place of joy and gratitude and peace.  Whew – so many stories I could share.  But y’all I have to share – I’m so damn excited for this decade. 

I’ve started making a 50 by 50 list of all the things I want to do, experience, deepen into, and become and there’s just something about a whole 10 years before you where you feel like you’re the wisest & most grounded version yet that is so incredibly amazing!  

So alongside turning 40 and feeling so lit up about it – I just wrapped up Leap Week last week, which was so much fun watching all the aha’s. The doors to Flow Accelerated, my 6-month program for creating your One Key Offer that can create a meaningful leap in your business are open for just a few more days.  Then starting next week, I’m fully shifting gears to the DreamMoney Blueprint launch at the end of August.  There’s a brand new logo and all new brand being designed for it, which I can’t wait to share soon!  And it feels like I’m kicking off this decade finally pursuing a dream that hasn’t necessarily been on the back burner for a few years, but I definitely have not had the bandwidth to give it what it deserves. And I know we all have those seasons – those, YES, but not yet seasons where we’re honoring our capacity – our most valuable resource.  

One of the biggest skillsets we have to develop as entrepreneurs is the wisdom of “WHEN”.  

When do we make that pivot? When do we take on that project?  When do we launch that offer? The WHEN will always ask for you to choose the best time for things to get your highest energy, focus, and attention.  And some of the hardest coaching I have to do is helping my clients slide back timelines when they’re pushing for too much at one time if they want their businesses to feel the way they want them to feel. 

It’s so easy to create urgency and false timelines that create pressure and stress.  I have found myself many times arbitrarily pushing a tight timeline before I remembered I get to make the rules.  I get to make the deadlines.  

So just as a little reminder when you find yourself saying “this has to happen by XYZ date” and you’re stressed – ask yourself, “does it?” Or can you slide it by just a week?  

Alright, my friends – let’s get into our episode for today!!  Last week, we started teasing apart the D in DreamMoney which is all around Deliberate Money.  How we can be more intentional with designing our money to honor our time and energy which can point to our offer design, our price points, and our own relationship dynamics to work and rest.  We also talked about being more deliberate with our money management because without this piece, you can be making all the money in the world – but it you aren’t deliberately directing it to do what you want it to do – you’ll likely never feel rich or supported by your money.  Or it’s so easy for us to get into that place where money is moving out just as fast as it’s coming in.  That’s where having a consistent practice with money is so incredibly helpful and healing.  

So much more to share on that in future episodes as we get into more of the practical practices that support money mastery and financial stewardship.  

Where I want to go today is moving into the R in DreamMoney, which is all around Reliable Money. 

Now, as we talked about last week  – there will be an external design that we’re weaving into our business model to create reliable cashflow, but also internal beliefs and practices we’ll be weaving in too. So externally, so internally. This is how it always is with money. And that’s exactly what we’re diving into today! 

So when it comes to reliable money – what we’re looking to create here is money that’s always on its way.  The holy grail in business, my friends, are three little letters called MRR or your monthly recurring revenue.  The higher this number is – the more stable we tend to feel.  And our goal is to raise our monthly recurring revenue over time which creates what I call a “floor”, which is the lowest monthly revenue you could anticipate throughout the year.  Our goal is to gradually raise our financial floor over time so your business is never dropping below a certain amount in any given month.  So for instance, your floor might be $6k, $10k, $25k – what have you. 

When we gradually raise the floor of our business – this is what allows us to make hiring decisions or investment decisions with the utmost confidence because we know that unless something catastrophic happens, we will always have X amount of money coming in every month.  

The same “floor” principle can also be applied to our bank accounts so that our balance never drops below a certain amount.  And our goal is to raise those floors to have liquid cash if we need it, but not so much so that our money isn’t being best leveraged and used.  And your floor for certain accounts will be different depending on the function of them.  

So for instance, my OpEx account’s floor if super low because my monthly opex costs are also fairly low. My team account floor, however, is higher because my team costs are higher and personally, I always want to know I have at least 2 months of team salaries saved – just in case.  Keep in mind, this is what feels best for me when creating money safety.  But having at least 2 months of pay saved is what helped me feel ready to hire knowing I had a floor built and trusting my business to keep earning what it needed to to not have to dip below that floor.  Knowing what floor feels safe for you is such a great place to start!  You likely have that number in your personal checking account too that when you start to dip below a certain amount, you feel a little more anxious, a little less safe. That’s your nervous system telling you – “I feel uncomfortable here”.  So just notice what that amount is for you.  So many dynamics can start to show up around this clarity alone. 

Does your floor need to be far higher than it needs to be to create that safety?  Do you often dip below your preferred floor and feel stressed every month?  Is there a way for you to intentionally raise that floor over the course of a few months (it doesn’t take long) by paring down on random spending?  This is of course, assuming random spending is happening.  Sometimes things are tight tight because we can’t budget our way out of being month-to-month.  

So, how do we step into monthly recurring revenue that gradually raises our floor over time?  Well our first goal is to step into monthly recurring revenue for the very first time where we have months upon months of cashflow coming in.   

And what this is typically going to look like for most service-based businesses whom I serve is having an offer that is delivered over months and months where we can create a payment plan that extends across that time frame. Now, some would argue that this is not true monthly recurring revenue because eventually those clients will graduate from your program and new clients will need to come in. 

A true monthly recurring revenue would be having a product or service that is ongoing – like a software, for instance.  BUT because most of us are focused on programs, this is where we’re going to start! 

So, when I first started – I created a 12 month program that generated 12 months of recurring payments.  Now, I chose 12 months for this program because of the work we were doing inside. This offer was called Wild & Holy Year and we were re-examining and rewriting the stories that were keeping us from more self-trust, vulnerability, and bravery, which is very layered work.  We always want to be designing our offers around the nature of the work and what will be most supportive for our clients. 

Sometimes, people design offers for the cashflow which serves the business owner, but can create a watery experience for the client where a longer timeline isn’t actually needed and then there’s fluff in the offer, etc. 

So, when you’re thinking about stepping into monthly recurring revenue for the first time, my goal is to help my clients get to at least 6 months of cashflow coming in.  Why 6 months? Because this will feel like a spacious amount of time to figure out your next move of not only replacing the revenue that will be moving out after those 6 months, but to add even more revenue on top.  

So does this mean you need to have a 6-month offer?  No. Not necessarily.  But it does mean if you have a 90-day offer or 4 month offer, we want to be able to see if the price point you put around that offer can cover you for at least 6 months.  

So, that would mean, for instance – let’s say your monthly recurring revenue needed was $10k month, your offer (whether it’s 90 days, 4 months, what have you) would want to generate $60k to give you $10k for 6 months.  

During that time, you’re going to figure out your next enrollment for this offer, you might also figure out another offer for your current clients to flow into so at the end of tose 6 months, you not only have clients renewing into a new program with you, but you also have new clients starting with you.  And this is how you start to stack your offers, enrollment cycles, and payment plans to increase your MRR over time.  

This comes down to your offers, the duration of them, your price points of them, and your sales calendar to see how things start stacking together. 

In my current business model, I have a 6 month program that I enroll for quite regularly so new clients are always coming in. But on the backend, I have a month-to-month mastermind clients flow into that allows my monthly recurring revenue to continue growing over time. 

When my app launches, we’ll be focusing on seeding our user base with our funding and founding dreamers (business owners who are shifting their relationship to money, stepping into more earning, and also creating a more just + joyful world). From there, I’ll be focused on increasing our user base throughout that first year, and then focusing on retention so people want to continue using the app for years and years while continuing to bring in new dreamers. This is how you stack your MRR, but it all starts with seeding monthly recurring revenue first which is the value of that first big push (i.e. launch). 

So that’s the strategy side of creating money that’s always on its way because you’ve designed it that way.  Ideally, you’re stacking your next enrollment before your monthly recurring revenue starts to flow out.  And this can definitely take some time to figure out.  In the beginning, it felt like I had all the time in the world, but I didn’t use that time as wisely as I should have and money was running out before new money was rolling in and it took some time to get this to a place where MRR was mostly only increasing over time.  

The internal side of reliable money though comes down to a few key things.  

The first, is if we want money to always be on its way and we’ve intentionally designed it that way – we also need to cultivate a few key beliefs. 

1. That money is always on its way to you.  And more importantly money always wants to be on its way to you.  When we’re moving through a dry spell, we can project things onto money that money doesn’t love you, money doesn’t care about you, money is only going to other people, whatever that belief is, right?
   
   But when we shift into the belief that money is always on its way, it’s always making its way to you, it allows us to be open to receiving it and more importantly trusting it.  This is what can calm our anxiety as we stay grounded in our strategy, stay grounded in our sales conversations, stay grounded in our content, etc. 
   
   One of the greatest beliefs I cultivated is that money is always seeking me.  It can’t wait to find its way to me.  It’s up to me to create the most easeful way for it to find me and flow in.  It’s also such an empowering thought right?  That money is always on its way. It’s always seeking you out. It’s always searching for the quickest, most easeful, most delightful way into your world.  

2. If money is always going to be on its way, clients are also always on their way.  In this way, we start to cultivate the belief that clients (and especially the best clients) are always seeking you out, are always looking for that thing that only you have, that clients are plentiful and abundant, and always making their way to you.  Our work is to not find clients, but to be the lighthouse for them so they can find you.  This shows up in our marketing efforts for being more visible and creating content that connects with our dream people. 
   
   When we trust that clients are reliably on their way, this shifts the voice we use in our content. It tends to be steadier, more grounded, more magnetic.  It also shifts the way we hold our sales conversations because we can ground ourselves into the assumption that of course people want to work with us.  There isn’t a convincing that needs to happen. Simply a conversation.  I also want to point you to an old episode on Wild & Holy Radio (Ep 28 where I talk about the importance of conviction vs. convincing). It’s a good one! 
   
3. And lastly, we need to cultivate the belief that opportunities are always on their way.  Especially collaborations, visibility, etc.  Because when we cultivate this belief, we start to not only notice all the opportunities that are around us, we naturally pursue them or even create them. 

The last part I want to touch on when it comes to reliable money is creating more reliability inside your money relationship.  Reliability in any relationship comes from repeated action that creates a level of dependability and this is how we build trust, right? 

So for instance, when a friend says they’re going to call you and then they call you – they’re building a sense of reliability.  Reliability is also keeping your word. It’s showing up consistently.  And when it comes to money, the greatest shift I ever made while I was cultivating new beliefs that money would reliable show up for me was reliably showing up for it. 

And this didn’t necessarily mean showing up in my business consistently, which of course we need to take intentional action. But more so, it was reliably meeting with my money every day for a full year.  It was reliably moving money every two weeks and intentionally managing it.  It was following through on a commitment to reliably show up for my money, to meet with it, to manage it that I started to shift into a deeper self trust that I could be reliable with money too.  

For you, this might look like setting spending boundaries or a saving commitment that you hold yourself accountable to.  It might look like saying no to investments for a certain timeframe and sticking to that. 

If we want money to feel reliable, there is also something within us that needs show up reliably for our money as well.  

So externally, so internally.  And this is the starting place for creating Reliable Money.  

I would love to know what lands for you from this episode.  Send me a DM on IG.  I’d love to connect!  Please share this episode too, if it resonated.  

And also, as I mentioned last week, I’m going for a big goal at the end of the month which is raising $300K in capital to build my money app.  If you’d like to be part of the support team to help me spread the word, I would so appreciate it.  

I’ll be calling in 100 Funding Dreamers who will be purchasing my DreamMoney Blueprint, which is the profit planning tool I’ve developed that has helped me radically shift the way money feels, build so much more money mastery, and not to mention help me map out my way to the business I have today.

I’ll also be calling in 1000 Founding Dreamers who are ready to get clear on their personal and meaningful revenue goals that are grounded in their needs and dreams while also blending in the concepts of margins so these dreamers are not just thinking about the revenue they need to earn, but more so, what that revenue is providing behind the scenes. 

I’m a firm believer that we can’t think our way to DreamMoney.  We need tools, we need skills, we need practices that allow us to partner with our money differently and build acumen and mastery along the way. 

So definitely add your name to the short form in the show notes! I so appreciate you! 

And until next time, here’s to the courage to keep showing up even when clarity is still forming – knowing, trusting, believing the next right step is always on its way!  See you soon!