Podcast

274 Don’t Just Make Money, Create Wealth with Ann Wilson

Ann Wilson – best-selling author of The Wealth Chef, Wealth Expert on the hit Channel 4 TV series “Save Well – Spend Better”,
trainer, speaker, entrepreneur, and financial empowerment activist – helps people master this vital life ingredient called money and use it to create freedom of choice so they can live the life they really want.

  • Could not recommend it enough!
    by Mindful Mel from United States

    Listening to Heart Sells Podcast has felt like meeting a soulmate! That initial excitement of knowing this is exactly what you’ve been looking for, the peace of feeling completely understood and that burst of energy from knowing that anything is possible! Every episode has been chock full of awesome nuggets and beautiful reminders. The combination of incredibly successful powerhouses sharing their journey, practical and applicable tools and Christine’s heartfelt and authentic approach and energy, is an incredible gift for all heart-centered entrepreneurs!

  • Dondi Scumaci - Don't let a bad experience creep into your heart
    by WalkingInside from Canada

    Loved the interview! Dondi has a great way of reminding us that we get to choose the lesson in our experiences.

  • Amazing Podcast!
    by LaDawn Townsend from United States

    I just started listening to Christine's podcast and the content is amazing! Can't wait for the next episdoe.

  • Packed with Powerful & Practical Tips!
    by VanPavlik from United States

    Love this podcast! The lifeblood of any business is sales and Christine does an amazing job of making sales something you'll fall in love with instead of dread. These podcasts are short and get staright to the point, filling you with both the knowledge and motivation to go out and bring in lots more money to your business by selling from your heart. If you want to bury the notion that sales is sleazy or avoid "gurus" who make sales sleazy and instead learn to how to sell in a way that is heart-centered, easy, win-win, and non-pushy, then look no further... you have found the right podcast!

  • Mindset Makes The Difference
    by JanineFQ from United States

    Great show about creating a business with heart. If you think it, you can achieve it and Christine show you how to use your heart and mind to find success. I'll listen again.

  • Loved the JLD Interview
    by Thehighenergygirl from United States

    Wow, what a great interview with JLD. Christine your energy is great and I look forward to listening to your other episodes. Well done! BTW I love the title so much!

  • Follow your heart!
    by The Marketing Book Podcast from United States

    ... and your mindset will take it from there. Yogi Berra once said "90% of the game is half mental." With your heart and mind aligned (like planets) you'll be amazed at what you can accomplish. Subsribe, listen and start selling!

  • Afraid to sell? Listen here!
    by MizzBeeMe from United States

    These are wonderful interviews with successful entrepreneurs, (including the Queen of Sales Mindset, host Christine)......who share how they began, what their difficulties were, and the sales mindsets & strategies they used to get to their top. If you've ever had that icky feeling when it come to 'selling' you or your stuff....get some great inspiration here of not only how to sell, but how to think.

  • Feeling P.O.W.E.R. ful!
    by The Variety Artist from United States

    Just listened to ep 5. Love the POWER formula. Christine explains it clearly and makes it simple for me to understand. Great podcast!

  • Let’s get better at selling!
    by Joeb29 from United States

    Let’s be honest, we can ALL be better at selling. I know I can, and I’ve been studying selling for years! Have a listen if you want to start getting better. I’d recommend it!

  • Inspirational!
    by CCarroll1 from United States

    Christine is a joy to listen to and learn from! I am so glad she now has a podcast so I can keep learning from her wisdom on sales, money, mindset, business and more. Great information!

  • You had me at "hi gorgeous!"
    by The Chef Rock Xperiment from United States

    Wonderful energy and such valuable insight! Thank you, Christine!

  • Love this podcast!
    by Funky Sarica from United States

    Christine does such an incredible job of helping her listeners to find their way with selling with love, from the heart. Her guests offer so much value—looking forward to more interviews!

  • Beautifl Show
    by Duffash from United States

    Christine has a wonderful energy. She is a great coach and teacher. I love how she teaches tools for shifting our mindset into creating habits and behaviors that build our success.

  • Christine is Great!
    by horsegirldsi from United States

    Have gotten a lot of value out of the first episodes. Christine is a great host!

  • We need more of this...
    by Stu Schaefer from United States

    I'm an entrepreneur and I sell every day of my life. It's easy to neglect the heart side of things, but I think it's important to balance that since we're all humans on the same team. Christine does a great job providing really valuable insights!

 

Subscribe to Heart Sells!

Apple | Google | Spotify | Stitcher | Soundcloud | iHeart | Facebook

Resources Mentioned in this Episode:

Free Gift: The Savvy Investor

3 Key Points:

  • 2 Fatal Mistakes of Entrepreneurs
    – they have no money management system
    – they’ve never created a process and the system to taking money out
  • Money and your business are meant to serve YOU and it’s meant to serve life.
  • Pay yourself as an expense from your business and convert that expense into assets and investments.

Show Notes:

[2:13] Wealth means having the courage of getting really clear on who we are and what truly lights up what truly brings us joy, where is that edge of the stuff that where life is happening, and dropping also into this courage to be fully who we are.

[5:28] I think flow has been misunderstood by a lot of people, it prevents a lot of people from actually moving forward taking action.

[6:26] So not only does economic empowerment and money give us freedom of choice, that’s one of the key things that gives us but we’ve really got to understand freedom as a choice, we have to choose it

[7:42] If you learn something new, that can be quite frustrating but after you mastered it, right, it becomes easy because every step you go.

[8:18] The subtle difference of triggered inflow is knowing, being able to separate our worthiness, who we believe we are, from what we’re doing.

[9:11] The opposite of scarcity isn’t abundance. The opposite of scarcity is enough, knowing that there is enough, that we are enough, dropping into this deep knowing

[9:47] Another key element of keeping is getting into the right relationship with enoughness with worthiness. And then when I know that when I come to life, to my business, to my investing from that place, then I can be brave, then I’m dangerous, dangerous in a good way.

[12:34] I’ve really had to learn how to be super conscious about who I share my dreams and goals with who I share what so there’s this deep personal responsibility of personal leadership, it’s being really careful about what I choose to consume, where I choose to go, what I choose to look at, who do I choose to share that with?

[16:58] Profit first. If your business is not making a profit, it’s not a business so get over it.

[17:51] Valuing money isn’t going, I want more money. Valuing money is understanding that every euro, every pound, every dollar, every Vietnamese Dong has the seed of extraordinary potential in it.

[21:22] There is no one thing that’s going to create our freedom, we need to have this ecosystem. We also need to have a portfolio of assets in different sectors that operate in different ways and things that are completely outside of our business to have real sustainability, real resilience.

[25:17] All of our businesses, our asset investments, our portfolios, are all sub businesses to this holding company called our life.

[26:27] Take profit, first allocate what is that percentage when every bit of money comes in, pay that profit first and then paying ourselves first as salary and as dividends

[28:05] If we truly pay ourselves first we put ourselves first, we are then taking full responsibility for our own well being, and then we’re going to be able to move forward.

[28:23] Paying ourselves first means taking that out of our personal expenses. And instead of letting it flow out, directing it to our freedom, and what I mean specifically, that is converting it into assets into investments so it can grow in value and actually serve us down the line.

Transcript:

For FULL Transcript click here:

Read Full Transcript, click here:

Christine Schlonski [0:02]
Hey Gorgeous. This is episode number 274. I am so excited to have The Wealth Chef, Ann Wilson back on the show today.

Ann Wilson [0:11]
Hi, this is Ann Wilson and you are listening to the Heart Sells! Podcast with Christine Schlonski. Enjoy.

Christine Schlonski [0:19]
While after such an inspiring first episode where we talked about money freedom sales impact with The Wealth Chef herself Ann Wilson, I am super pumped on this aspect today. She is the best selling author of The Wealth Chef. She’s a wealth expert on the hit channel for TV Series, “Safe Well Spend Better”. She’s a trainer, speaker, entrepreneur, and Financial Empowerment activist and she helps people to master the vital life ingredient called money and how to use it to create freedom of choice so that you can live a life you really truly desire. And today we’re going to go deeper into the idea of why just creating money or making money is not enough. But creating wealth will give you what you are looking for. So let’s tune right in with the amazing Ann Wilson. Well, I am so super excited you are back Ann welcome.

Ann Wilson [1:21]
It’s so great to be back continuing this juicy topic of entrepreneurs money, freedom, power, resilience, super sexy.

Christine Schlonski [1:30]
Yes, super sexy. Especially, you know, I mean, one of my biggest vices is freedom. And that’s why we probably aligned so much.

Ann Wilson [1:37]
Yeah.

Christine Schlonski [1:39]
Yours is to freedom it’s, you know, creating the life of my dreams. And interestingly, and I’ve been saying that for quite a while now, the more I grow, the bigger my dreams become. So I truly believe the more one person grows and develops and steps into their potential, the bigger their dreams will become. And obviously, it’s always good to have some money to fund the dreams, right?

Ann Wilson [2:05]
It certainly is. And I think the more we also drop into who we really are because I think the wealthier general avenues are wealth rather than just rich because wealth means as having the courage of getting really clear on who we are and what truly lights us up what truly brings us joy, where is that edge of the stuff that where life is happening, and dropping also into this courage to be fully who we are. And, and so I discovered the more we’re able to drop into that empowered pace of having financial resources but also our voice. Our dreams also become I think, so much more aligned to truth. I think so often when we’re disconnected from that when we don’t have the economic power, where we don’t have that safety, that confidence and built-in, you know, knowing we actually have our own back. So many of the dreams can be around wanting to please or appease or try and validate our worthiness externally. And when we actually get into this place of true freedom. That’s what freedom from trying to perform, trying to please appease, and as women we often have been told those are the only things we’re able to do to be safe and so there’s a deep rewiring that also comes on this journey of true freedom which is so cool. And then when we know what we really want we find the price tag is even better because we’re not now wasting time energy and mostly money on stuff that actually doesn’t bring us joy but we’ve done it just because we thought we should because that’s what we’re meant to do or that’s what Instagram or the magazines tell us we should be wearing, doing, living and what our liberation where we can drop all that stuff.

Christine Schlonski [3:52]
Yeah, oh totally when you’re not forced to have the next big car because your neighbor already has because you can just decide what brings you joy. And I think that’s such an important factor for everything we do. Like living and flow, living and bliss, having joy each and every day. And I think money having money really contributes to that freedom of these emotions because you do feel safe. And you do not need to very well how do I pay my rent? Right? Will I even be able to pay next week or like all the stress that we probably all have been through? I had moments where I was like, Oh my goodness, if I don’t get that to work right now, well I don’t even know how I’m gonna survive the next month. And it’s so stressful and it cuts your creativity, your joy and really staying and your heart space and coming in a hard space that I think it’s money is one of the most important topics that not just money but as you just mentioned, a couple of sentences ago like creating wealth.

Ann Wilson [4:59]
Yeah and real wealth, which is this base the sustainability of this asset base, which is really key. And this is such an interesting paradox you’re talking about, you know, that flow. And I think a lot of people and entrepreneurs and personal development where we can have a lot of the story around. Or you know, if it doesn’t feel easy, if it isn’t comfortable, then it’s not for you. And I just want to speak right upfront. I do not believe that at all. I think, you know, I think flow has been misunderstood by a lot of people. And so I think, unfortunately, it prevents a lot of people from actually moving forward taking action, you know, anything new has discomfort around it. It’s just unfamiliar, and it can feel frightening. It can be, there can be fear associated because the role of our nervous system is to keep everything the same. And so I think there can be this element of when we really want to step into expanding our life, creating freedom, creating wealth, learning how to invest, learning how to sell, dipping in that I see a lot of people go, Oh, you know, but it’s not feeling comfortable.

Ann Wilson [6:07]
A modern flow is not joining bs, flow to me as dropping below that noise of distances, and being able to listen to what we are really being called to. And we speak a lot about freedom. And one of the things I’ve just been exploring is really understanding that freedom is a choice. So not only does economic empowerment and money give us freedom of choice, that’s one of the key things that gives us but we’ve really got to understand freedom as a choice, we have to choose it. And choosing is an active step freedom will never force itself on us, you know, our liberation, our joys, our desires, our real dreams, because the very fact is, it’s freedom of choice. So we have to be active and put ourselves in the freedom arena. We’ve got to keep choosing it. We’ve got to make a commitment and it takes tenacity and heart and takes vulnerability and it’s exposing. Brené Brown often uses the man in the arena, talking about we’ve got to be in that freedom arena. And, and I think so often these pro-people can go they’ll cling to the familiar suffering and comfortableness of that rather than risking and choosing to choose freedom and unfamiliar freedom, unfamiliar wealth, and I just wanted to bring that conversation upfront. Because it’s such a fine one, and I can just see so many people betraying themselves and betraying freedom under this name of the flow. It needs to be easy. It’s just completely misunderstanding what that concept is.

Christine Schlonski [7:40]
Yeah. And I totally agree. If you learn something new, that can be quite frustrating. But then after you mastered it, right, it becomes easy with every step you go, like, you know, so many things I’ve learned on my way of becoming an entrepreneur. Now being an entrepreneur is really, really frustrating. From time to time, like why do I need to know that? You don’t know what you don’t know? Right? So you get all the new stuff. But embracing it, being curious about it and maybe just going to the point where you’re so frustrated that you now commit to figuring it out.

Ann Wilson [8:14]
Absolutely, yeah. And I think the subtle difference of triggered inflow is knowing, being able to separate our worthiness, who we believe we are, from what we’re doing. And you’re so important when I’ve seen you creating wealth and we get, you know, can dive into some video entrepreneurs’ wealth, investing, where it comes. It’s going if I try to get my validation and my sense of worthiness from what I’m doing in my business, or that result of that, that launch or how my assets are performing or what’s happening in the market. I am doomed because I’ve given my freedom and my power away. But when I can sit and know that I’m already worthy beyond measure we all are, there’s nothing we can do. Have we created to get that we are already enough? And I think this is the next sort of key principle of understanding that the opposite of scarcity isn’t abundance.

Ann Wilson [9:11]
The opposite of scarcity is enough, knowing that there is enough, that we are enough, dropping into this deep knowing, and then from that place, we can really make powerful discerning decisions around our business or investing because we’re not trying to use those things to validate our worthiness. And that is such it is an ongoing reminder, listen, because we live in a world that tells us that that’s not true, that all these other things are needed in order for us to be worthy or even just to have the right to life. So that this for me is also another key element of keeping, getting into the right relationship with enoughness with worthiness. And then when I know that when I come to life, to my business, to my investing from that place, then I can be brave, then I’m dangerous, dangerous in a good way. Because I’m not seeking that approval or I’m not pleasing but when I come from trying to get validation from my investments, my business, and my actions, I’m never going to make great choices.

Christine Schlonski [10:17]
Yeah, and this is such an important point you’re just making and I remember the moment I decided that it’s not my business what others think about me. Life became a lot better like a whole lot better because I was able to allow myself to stop worrying.

Ann Wilson [10:38]
Yeah.

Christine Schlonski [10:38]
Like, Oh my goodness, what’s my boss gonna think about me? What? You know, what might be, my parents thinking, when my neighbor says this and this right, so I like giving up that feeling or that desire to manage other people’s thoughts?

Ann Wilson [10:57]
Yeah.

Christine Schlonski [10:58]
It’s such a relief. And yeah, I believe that you will be more inflow you will be aligned to who you are, you will have that opportunity to say, well, you know what? I love being in five-star hotels. I just love it.

Ann Wilson [11:15]
Yes.

Christine Schlonski [11:16]
But I’m also fine being in the wilderness and nature.

Ann Wilson [11:20]
Yeah. And we know that’s your truth.

Christine Schlonski [11:23]
Yes.

Ann Wilson [11:24]
Not somebody else’s. Oh, deliberation.

Christine Schlonski [11:28]
Yes. Yeah, that deliberation that comes with it is just huge and it also because now you allow yourself to just be more of who you are. And I believe that’s an ongoing process. Yeah, I don’t think we probably will never ever be the thousand percent authentic version, right? We grow into it more and more and more, because the more we learn about ourselves, and you will learn when you have different experiences like Oh, why did I react this way in this situation? If you’ve never been in the situation before, but you probably don’t know how you will react. Right? So it’s I think it’s like that growing process. And

Ann Wilson [12:09]
Yeah, absolutely. And I think, you know, having the ability to be curious about life, curious to go and learn, know what we don’t know. But curious about what feedback we’re getting. And instead of going into judgment and shaming to go, fascinating, what is this information telling me? And I know what you’re talking about, you know, this discernment we need to have of what information feedback we need coming to our life, and I’ve really had to learn how to be super conscious about who I share my dreams and goals with who I share what so there’s this deep personal responsibility of personal leadership that isn’t about going oh, well, I’m Teflon coated and I’ve got a height of a rhino and nothing’s going to get to me. No, it’s just being really careful about what I choose to consume, where I choose to go, what I choose to look at, who do I choose to share that with? So my community, my coaches, my, these frameworks, and so I really learn that in my money stuff. Here, we can get back to money and invest. I’ve had to learn how to put frameworks in place, frameworks for investing, frameworks for managing my money, how I can automate it as much as possible. So I can almost protect my investing and my money and my wealth from me, those emotional sorts of signs that come in, but I’ve also put those same frameworks in my business, in my feedback I get what do I choose to consume? You know, and those can be this paradox that frameworks and systems create freedom because often we can think freedom is about, oh, anything, anytime, anywhere, whatever. Don’t give me any limitations or restrictions. That’s not you know, a river needs a riverbank without a riverbank is just a bloody puddle. And it’s going nowhere. So there’s this paradox of freedom easy frameworks often to protect ourselves from ourselves.

Christine Schlonski [14:01]
Yeah. And it’s interesting. I heard that a while ago, the structure creates freedom. And, you know, was the situation in the world right now not being able to travel, and really sitting down focusing, getting clear on what I really truly desire. Right now I’m not traveling, so I have time to do some more thinking. It’s really interesting because then you figure out like, Oh, well, I’m in a new structure right now. And it does help to get more focus to get more things done. And to still enjoy. It’s just a different way. So what do we allow ourselves to do? And how do we perceive a situation that we can’t really control? And we can only control how we react?

Ann Wilson [14:50]
Yeah. And the frameworks that we put in for ourselves, what are we allowed to consume? Who’s our who the people that we trust with who’ve earned the right to that. And I want to jump to the money side. Can I speak about one of the things that I do see so many entrepreneurs do because I know you know, you teach your extraordinary but how big trouble is learning how to bring this money in? And one of the things that break my heart is seeing entrepreneurs learning how to bring this money in their business is growing, that money is flowing. We spoke about, you know, it’s often can just go through the fingers. And if we’re not conscious about creating a framework, a system to how do we direct that money? Do we have a system in place to go? How am I directing that money? Do I have clear objectives for that money that I’ve brought in? Or is it just I’m so busy bringing it in, I’m so busy focusing on the top line, and I don’t even know what I’m going to do with it. You work so hard to bring that money in and then neglect it like you’re going and working really hard to get this ideal relationship then you completely ignore that person. Many people do this with money. Money’s like the ideal employee but it needs to be given a job description it needs to be told what is its objective in your business and then out of your business so there are two fatal mistakes that I see entrepreneurs do one they have no money management system so they got no clear objective so some of the money that comes in needs to first go to profit. I love Mike Michalowicz’s wishes process profit first.

Christine Schlonski [16:24]
I was just like to ask you something. Can you recommend a book?

Ann Wilson [16:29]
You know.

Christine Schlonski [16:29]
That came to mind right away?

Ann Wilson [16:32]
You know? Absolutely. And you have this is about making this change decision about whether we have to shift, you know, me first profit first, what is the objective, and so changing, not going what is left at the end. And this is a system, it’s a framework. It’s a discipline that has to happen. I can feel uncomfortable initially. Coming back to that flow. Yes, it’s going to feel uncomfortable because you have to change patterns and stories of who I should be paying my bills first. I should be doing this first. No profit first. If your business is not making a profit, it’s not a business to get over it. And so there’s ruthlessness. And I say that with a real consciousness of going, we’ve got to make these things happen. And then they become our comfort zone. So are you redirecting? Do we have a system and a framework to direct money to? You know, how much of that money is going to go to operational costs? Do we know what our overheads are? You know? And do we have a basis on which we can provide an operational buffer in the business? Do we know how long we could survive? If COVID comes along? And we, you know, your business gets impacted by it? What are the elements? How do you have a process on how you make choices as to where you’re going to spend money? Do you have any metric or ability to see that you actually get a return on investment? There is a lovely phrase that says “Money Flows To Those Who Value It Most”.

Ann Wilson [17:51]
And valuing money isn’t going. I want more money, valuing it and understanding that every euro, every pound, every dollar, every Vietnamese Dong has the seed of extraordinary potential in it. Some people just consume it, and buff it’s gone. Other people understand that with great leadership, they get to plant that. But they’ve got to create the environment and they’ve got to release that seed. And so this is what is that return? Do we, you know, do we value that money that we’ve worked hard to bring in most people’s behaviors? Or no, because it’s almost the name of the game. How quickly can I get rid of it? Because that’s what we’ve been told. We’ve almost been told you’ve got to get rid of money as soon as it comes in. Because we don’t know what to do with it. So this is the first big thing I see entrepreneurs and they focus on the top line. We often call it “the marketer math”. We see this so much in the digital world online space, the revenue the x figure launch the six-figure seven-figure business. Well, if you’ve spent 7.1, to have a seven-figure business, you’ve got no profit, you know, again, what are we focusing on? Are we focusing on vanity? Or are we focusing on true freedom and reality? What do we want? So shifting that focus is really key, that is whether you want to add anything negative or should use it the whole time.

Christine Schlonski [19:13]
Yeah, I just love that you’re making this point and it’s so true, obviously totally get excited if somebody tells you they had a six or seven-figure launch, but then you know, I know a lot of people who do partner up so the six-figure launch like you know, it’s kind of too and then absolutely pay for all the marketing for all the setup for all the whatever and then you know, that cuts a lot of percentages, and at the end of the day, they might not even have made 10 grand, and you know, everything else has gone and they have the work. So it doesn’t really make sense and I love that you’re coming back to those mistakes because we wanted to talk about the fatal mistakes that entrepreneurs make. So let’s keep going. I think

Ann Wilson [19:57]
The first one focusing on the top line, not having a place to direct money not giving a leadership not taking profit first. But the next big one. And this manifests in two ways are entrepreneurs not taking money out of their business? First and often seen as in a very simple one, you’re actually paying themselves first truly recognizing that they are a cost to the business. And listen, when you’re starting a business, you don’t want to overload it, but you need to be taking money out. A lot of entrepreneurs will run some costs and lifestyle costs to the business which is fine, but actually taking money out as a cost being prepared to pay the tax. So a lot of people you know, are so afraid of paying tax that they forget to create wealth. You want to do it sensibly. But if all the money stays in the business, again, it’s not sustainable. So one pays themselves by making sure that money is coming out of the business. But now this is the one proceeding that absolutely breaks my heart. I see a lot of entrepreneurs say, Ann, I’m reinvesting in my business, my business This is my biggest asset. I’m reinvesting in my business.

Ann Wilson [21:03]
This is super, super dangerous. Because from an investing and from a financial well-being aspect, one, we got clear in that first thought we had and in the “The Roadmap to Freedom Webinar”, “The Savvy Investor”, that there is no one thing that’s going to create our freedom, we need to have this ecosystem we also need to have a portfolio of assets in different sectors that operate in different ways and things that are completely outside of our business to have real sustainability, real resilience. Because I’m only reinvesting in my business, the only asset that has been created is the riskiest, most terrifying thing to do. And entrepreneurs by nature are often positive, that often are prepared to take more risk. They wouldn’t be in that business side, but this could be a real dark edge that they don’t have the discipline of taking money out and converting that into a stock market portfolio, taking money out and building a real estate, property investing portfolio. And that can be in various ways. It doesn’t have to be physical. You know, there are so many different ways you can do that, taking it out and even putting it in other low input businesses. But this is terrifying. And so what happens, there’s a good old saying, you know, don’t put all your eggs in one basket.

Ann Wilson [22:27]
Many entrepreneurs don’t only have all their eggs in one basket, they only got one damn egg. And if they drop that egg or the market changes, they get tired, they’ve got nothing. And all of this work they’re saying they want to create the freedom they want to create this lifestyle is all an illusion because they’ve never created this process and the system to take it out. And often they’ll go over and I can get a higher return. You know, I can reinvest that into the launch and I can make more money, great, but if you never create sustainable wealth, if you never create these assets that then give you the freedom of choice, then one, it’s just a big lie. And two, it’s just a turning cashflow machine so thank you for letting me rant on that one because this is one that breaks my heart. I am just an extraordinary entrepreneur doing amazing things. But literally, they walking on a tightrope wire, thousands of feet up with no net to catch them and quite frankly, with a lot of arrogance,

Christine Schlonski [23:25]
Yeah. Well, thank you so much for sharing that. I just want to add that I learned a while ago that a millionaire has an average of seven different income sources.

Ann Wilson [23:35]
Yep.

Christine Schlonski [23:36]
And that really made me think, Oh, well, seven. Okay. Well, I better get started, because it’s not created overnight. So I think this is so so important that we really understand how this money world works. And we do it in a way that we do not get overwhelmed, but it does take time. There’s no rich, get rich quick kind of thing.

Ann Wilson [24:01]
Yeah, you know, if you didn’t listen to podcasts right, go back. Nobody is coming to rescue us. And there is no one coaching thing. There is no one product, one business that’s going to solve our money problems.

Christine Schlonski [24:15]
So just one thing, because I know that a lot of books I read talked about it, but it did not really get to me, I got it now but it took me a long while. So I’m just presuming that one or the other listener might be thinking, well, what does it actually mean paying myself first?

Ann Wilson [24:36]
This is so great because it is one of those phrases that is thrown around people go Oh, yes, pay myself first, but rarely misunderstand it. So I think we have to look at and get into the right relationship with our business and our money. So often, you know, people have their businesses higher up and they come below it, but we’ve really got to go. In the hierarchy of life. We’ve all already asked. CEOs have the most extraordinary business, the business called our life. So, you know, we’ve got to manage it, we’ve got to go, what’s our vision? What’s our strategic direction? What’s up? You know, what are we wanting to achieve from this business called ROI, so we’ve got to manage it visit, the same way we treat any other business. And so all of our businesses, our asset investments, our portfolios, are all sub businesses to this holding company called our life. When we are treated in this way, we can also go Ah, because many people don’t become subservient to their job, their money and their business and become slaves to that instead of going. It’s meant to serve me, it’s meant to serve life.

Ann Wilson [25:39]
And so if that flow is meant to go out paying ourselves first, first from a business means you have to take money out business and use firstly in the business Profit first, you have to make sure that you allocate and pull money out and allocate it to profit because if your business isn’t making a profit each and everyday month and consistently expanding, it’s going broke. And we’ve just got to be very real about that. So there’s allocation of profit in the business, but then we have to take that profit out of the business if that profit just sits in the business as retained income, it can become a very sloppy and lazy way to find, you know, cashflow when we need it. And again, it can become a dysfunctional business.

Ann Wilson [26:26]
So to take profit first allocate what is that percentage when every bit of money comes in, pay that profit first. So profit is still to the business entity, then paying ourselves first is then making sure as director shareholder, money is coming out and it can come out as both salary and as dividends. Is your business very tax-effective in ways you can take but you’ve got to take that money out and be prepared to take the tax it whatever it is, there have been many different tax-efficient ways you can do that? But paying yourself first is this. And having the courage to say, I need to be the most important bill that gets paid every month well your profit is in your business, then you and you know that as an expense, it does not profit that side, and then the others will come because when we do this, we start breaking the story of icon lost. So many people when we really understand this paying yourself first it goes into every area of our life and we can truly sit without judgment, but with curiosity and inquiry and go.

Ann Wilson [27:28]
Am I paying myself first with my time with my energy with my money, and we can see what were the areas we’re not doing it you know, if we’re waking up first, and then we’re starting to look at Facebook or emails or responding to WhatsApp messages. We are not paying ourselves first without the time and our focus. You know, we’re waiting for the end of the day to see if there’s any energy left after we’ve sorted out the kids, the business, the dogs, or this to do the things that live in us. We’re not paying ourselves first. So paying ourselves first takes a radical it’s, I call it the most selfless selfishness. Because if we truly pay ourselves first, we put ourselves first, we are then taking full responsibility for our own well being, and then we’re going to be able to move forward. So the next step of paying ourselves first is great, we’ve got business, money out the business, but now we have to make sure that some of that money gets to stay in our lives. And paying ourselves first means taking that out of our personal expenses. And instead of letting it flow out, directing it to our freedom, and what I mean specifically, that is converting it into assets into investments. So that money not only gets to stay in our lives, but it gets converted into something that can grow in value and earn us income. And so this is paying our own freedom tax first. And this is truly where paying ourselves first comes from, is the principle of keeping some of the money we make and converting it planting it. So it can grow in value and actually serve us down the line.

Christine Schlonski [29:01]
Hmm. Awesome. Thank you so much. Last question of the day what is the very first thing you’ve ever sold in your life?

Ann Wilson [29:13]
Wow! You know I had to believe that I was a disaster sales. But if I go back I realized that I actually always had a strong ability to impact and influence and when I was able to change the story around what selling is the very first thing

Christine Schlonski [29:31]
That comes to mind like maybe you know, as a child, like the very first thing that you were getting money for, from.

Ann Wilson [29:38]
What’s coming to my mind is I was very good at giving away stuff. So I had to learn because I think there was a big story that you know, money was a little dirty that giving was far better. And I said the story is coming to mind, which maybe I learned did not quite send it. My father had this box over these amazing stones and rocks. He was into geology that he had collected from all over the place and his kids were allowed to play with this. And one day he came home and my twin brother and I had been out playing with our neighbors. And he came back and he looked inside this box in there, which there were like two or three stones left. And he said you know what happened to all these stones? We said, No, we were playing with the neighbors and they said, we will start a stone club. And everybody distributed all the stones amongst them and all the stones were now gone. And this in the stone club lasted about half an hour. And that was the end of it.

Ann Wilson [30:30]
And my father was devastated. We were just given away over the rock that he collected for his whole life. So I think I did get hiding. And I learned really quickly that okay, what’s the transformation and there’s a big difference between giving away and really real things and understanding that so not quite the What did you sell? I do though, remember my very first digital marketing and online sale when it came to the whaleship business because I knew nothing about selling and I was so grateful. You teach and I had this huge barrier block that I came from. There’s just giving away those stones rather than helping.

Christine Schlonski [31:06]
Yeah. What a journey though.

Ann Wilson [31:08]
Yeah. And I can remember my very, very first sale and I can remember who it, about what was the first PayPal thing. And you know it was terrifying and exciting and exhilarating. But I had that courage to ask, I had the courage to stand and go, you know, I believe there’s value here. And this is why I think it’s so important. We’ve got to get in that arena, we’ve got to be prepared to experiment because until I was prepared to actually put something out there, ask growth, then that slowly built the confidence and I could get the feedback then I could refine. And this was so important for me to realize that just you know, maybe like a wealthy life is a lifetime thing. So is learning how to sell and influence a market and just have the compassion that there’s some stuff I’m going to get wrong, but celebrate each time it gets better, more refined, and really dropping in that by me being prepared to do the work that needs to be done so I can become more proficient at it is deeply an act of service. Because then there are more people I get to serve.

Christine Schlonski [32:12]
Awesome. Well, what a beautiful finish to the second episode. Thank you so so much. And I love that you brought us this amazing gift, “The Savvy Investor”. So that is a really great start into all of this, not just mindset, but practical stuff to start implementing.

Ann Wilson [32:31]
Absolutely. Because you got to have the How to there’s no point just getting motivated. But if you’re not told how to then you’re just left hanging.

Christine Schlonski [32:38]
Yeah.

Ann Wilson [32:39]
That’s exactly what we do. There are six key steps that create this ecosystem of creating your financial freedom. What to invest in? How to do and how to manage your money? Getting out of debt, all in this free training. So be great, dive on in.

Christine Schlonski [32:52]
Yeah, awesome. Well, thank you so, so much for sharing your wisdom. This was just brilliant. I’m going to go back to realism myself because there were so many golden nuggets of, you know, this little mindset shift sometimes makes a huge difference. And then obviously starting into the how-tos, and then practicing, and getting to that new level of comfort, getting to that bigger comfort zone, right so that we can all grow and have thriving businesses and really have that impact on the world that we want to make.

Ann Wilson [33:28]
Absolutely, and thank you for having me on Hearts Sells! and this amazing podcast that you provide this amazing platform is helping entrepreneurs people to expand their lives by learning these key skills.

Christine Schlonski [33:41]
Thank you so much, and have a great one. Bye.

Ann Wilson [33:44]
You too. Bye.

Christine Schlonski [33:46]
Well, what another amazing episode, I guess, Gorgeous. You kind of got the idea that I could talk to Ann for hours. It’s just so inspiring to have someone to lift you up to help you see what’s possible and what’s done before, especially if you are a woman, you probably do suffer no matter where you’ve been brought up with some false beliefs around money, around money management, and well and can surely help you to release that kind of thing that is in the way. I’m so super pumped. We had the opportunity to talk again today and I hope you’ve gotten a ton out of it. I would love to hear from you. I would love to know where are you on your journey, what’s going on in your world? How do you feel about money because money and sales are very closely related, especially when it comes to the point of really creating your offers to making them irresistible but also to help you to charge the value you are providing. And to really back that up this every cell in your body, so you can actually stop undercharging and totally over-delivering, but finding some harmony in the process, hop on over to christineschlonski.com find the podcast tab and this episode number 274 with Ann Wilson and get her amazing free gift, “The Savvy Investor” check that out in the resource section. Also, once you’re over there, make sure you sign up for The Empowerment Notes where you get updates on Heart Sells! Podcast, where I will let you in on some secrets that we are working on right now. So you’ll be the first one to know. And also once you’re over there, check out the experience. This is basically online masterclasses that I produced in the past or that I hosted in the past and we are starting to put them up as an experience for you to go through them again. So the amazing knowledge and wisdom of the speakers will not be lost. So depending on where you are, and depending on what time you are listening to this episode, we have the Heart Centered Lead Generation Summit up. And you can go through it at any time you desire. So hop on over to christineschlonski.com and check out the goodies that are waiting for you over there. Thanks for listening. Thanks for sharing your love and your excitement and for giving your gifts to the world. I really appreciate you being here. I really appreciate all the love you’re bringing to the world. We all need that. And thank you so much for tuning in. Looking forward to having you back for the next episode. And for right now I am wishing you a wonderful day, wherever you are in this beautiful world and I’m saying bye for now.

 

Where to find Ann Wilson on Social Media:

Like and Follow Heart Sells! Podcast:

Heart Sells! Resources:
Empowered by your Sales-Success!

The Experience: Learn strategies, tools, and tips from the most successful entrepreneurs. Check out the Experience for FREE

Empowerment Notes, Join the Empowerment Notes our weekly newsletter and I’ll make sure you have all the info you need to be empowered.

Join my FREE Heart Sells! Facebook Group and join an amazing community of heart-centered, driven entrepreneurs to connect and receive amazing value on how to sell from your heart and make sales with ease, grace, and confidence.

Related Articles

×
Join the FREE Sales Mentality Makeover Masterclass
Join the FREE Sales Mentality Makeover Masterclass
Close