Myth: Keeping business costs as low as possible maximizes profits

August 23, 2017

Many business owners believe they should maximize their profits by keeping their expenses as low as possible. In this episode, Ken Lizotte and Kathleen explore when, how, and why to invest in yourself and in your business and how that leads to sustainable profitability. As you find out, spending money to develop skills or expand your business can actually set you apart from the competition. It is what both these successful thought leaders have done, so listen in and find out how to bust this myth wide open.

Key Take Aways:  

  1. Anticipate expenses. As Ken says, when you do your annual budget, set aside some resources for marketing and personal growth courses or coaching.

  2. Trust your gut. Not all investments, coaches or training programs are for all people. Do your research, and then trust your instincts.

  3. Learn from your mistakes. Part of being a business owner is taking risks and sometimes failing. When you realize that you have made a poor investment of your time or money, change course. It can be difficult to realize you have made a mistake, but the sooner you do and the quicker you change course, the better off you and your business will be. 

Guest Bio:

Ken Lizotte is the author of seven books including his most recent The Speaker’s Edge: the Ultimate Go-To Guide for Locating and Landing Lots of Speaking Gigs (Maven House Press) and The Expert’s Edge: Become the Go-To Authority that People Turn to Every Time (McGraw-Hill). He is the Chief Imaginative Officer of emerson consulting group inc., a Concord, Massachusetts, consulting firm that transforms speakers and consultants into “thought leaders” by helping them write and publish their ideas as articles and books. Kathleen has worked with Ken since 2010.

Ken lives in Concord, Massachusetts, with his wife Barbara, daughter Chloe, and Golden Retriever puppy Beckett.

Special Announcement: Check out Ken’s latest collaboration, What Would Henry Do? Essays for the 21st Century” with Introduction by Ken and featured essays by 40 scholars, activists, authors, and celebrities including President Jimmy Carter. Published by Thoreau Farm, the birthplace of Henry David Thoreau as a fundraiser.  

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Myth: I don’t need to worry about money, some day my prince will come.

July 5, 2017

Women can have a love/hate relationship with money. Even in today’s society, some women feel they are not going to be attractive to a mate if they are financially put together. Barbara Stanny and Kathleen delve into the notion that women are still waiting for Prince Charming to rescue them financially instead of empowering themselves to learn about investments and money management. Listen in as they discuss the importance of busting this myth wide open so that women of all ages can be more financially intelligent and set a good example for the next generation.

Take Aways:

Barbara explains that getting smart about money involves a three-pronged process – the outer work (education), the inner work (money mindsets), and the higher work (your life purpose).

You need to take small steps consistently and you will see remarkable results.

Money doesn’t come from what you earn, it comes from what you do with what you earn. (Click to Tweet)]

 Barbara Stanny is the best-selling author of Prince Charming Isn't Coming, Secrets of Six-Figure Women, and Overcoming Underearning®.  She has been teaching women how to take charge of their money and take charge of their lives for 20 plus years. An experienced mentor, wealth coach, and sought-after speaker, Barbara can help you create the wealth you desire and the life you deserve. 

Special Offer:

Free e-book "So You've Made Good Money...Now What?"

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Myth: Couples don’t need to talk about money.

June 21, 2017

Dr. Dorian Mintzer, Revolution Retirement 

As a child, Dori grew up recognizing different money mindsets by watching her parents’ financial habits. Couples may have a division of labor when it comes to finances; but, it is important they talk about them so they know what questions should be asked in times of crisis. Dori and Kathleen explore this myth and why it is important that couples need to talk about money and that is actually an act of love. 

Take Aways: 

  • Use “I” statements when talking about money
  • Ask a third person (financial advisor, banker, estate attorney, relationship or money coach) to help facilitate these conversations
  • Appreciate your partner in a money conversation (share what it was like growing up, was money talked about, what does money mean to you, etc.) 

How do you honestly and openly talk about money as a couple?  (Click to Tweet)

Dr. Dori Mintzer - With over 40 years of experience as a psychologist, Dr. Dorian Mintzer (Dori) is an experienced therapist, executive coach, consultant, speaker, and writer. She is the co-author of The Couples Retirement Puzzle: The 10 Must-Have Conversations for Creating an Amazing New Life Together, and co-producer of “The Career Playbook: Second Half Plays. Dori has been featured in a variety of media such as the NY Times, Wall Street Journal, NPR, ABC Evening News, and the Today Show. For more information visit www.revolutionizeretirement.com. 

Special Offer:

Virtual: The 4th Tuesday Revolutionize your Retirement Interview with Expert's Series is at 12:00 noon eastern time and open to professionals and the public. Sign-up begins the week before each call at www.revolutionizeretirement.com.

 

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Myth: A Man is a Plan.

June 7, 2017

Paula Harris, Co-Founder, WH Cornerstone Investments 

A man is a plan is a myth many women, unfortunately, use to avoid dealing with their finances. In this podcast, listen to Kathleen interview Paula about how to break this myth down so you can start to make simple decisions every day to reach financial security. 

Listen in and discover: 

  • Why it is important to take care of yourself financially and not wait until you are married to let your partner do it for you.
  • How to practice the “set it and forget” method of saving.
  • Ways to set realistic financial goals.
  • Why delaying gratification today is part of any sound financial plan.
  • How a certified financial planner can help.  

WH Cornerstone’s co-founder, Paula Harris is part financial therapist and part dream architect. She takes great pride in helping her clients, particularly women, obtain financial peace of mind and independence. In addition to her role as co-founder, Paula is very actively involved in the community. In the past, she has served on several boards including serving as the Past President of the Plymouth Philharmonic Orchestra and the 2012 Chairman of the Board for the South Shore Chamber of Commerce. She currently is an advisory board member of empowerHER.

Paula is a graduate of Providence College and now lives in Plymouth, MA and the Berkshires with her husband and co-founder, Bill Harris.

To sign up for the Breaking Money Silence Podcast, click here.

 

 

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Myth: It is okay to ignore your finances.

May 24, 2017

Anne Dickinson, Eye on Your Business

When business owners buy into the myth that it is okay to ignore your finances, their bottom line probably suffers. In this episode, Kathleen interviews Anne about how not knowing “your numbers” negatively affects your business and how more female business owners than men may suffer from this myth.

Listen and learn:

  1. Why financial knowledge is power, and how learning more about your business finances boosts confidence.
  2. How to take one small step at a time to get organized and how working with a bookkeeper can help.
  3. What it takes to be more financially savvy and how taking action reduces your stress and improves your decision-making.

Special Offer for Breaking Money Silence Podcast Listeners:

FREE Webinar, 5 Ways to Keep More of the Money You Make on June 14, 2017, at 3:00 p.m. Eastern. Click here to learn more.

Million Dollar Message Retreat, May 26 – 28, 2017, Toronto

Anne Dickinson is the cash flow and profits optimizer. She uses her profit leaks x-ray vision to help overwhelmed business leaders take back control of their business finances, stop money from falling through the cracks, and make moves that result in more money, more time, and more freedom.

Creator of the Stop the Profit L.E.A.K.S. Formula™, Anne isn’t afraid to get her hands dirty as she works side-by-side with business leaders to identify and eliminate money leaks, ignite profits and improve cash flow and liquidity to create a strong, healthy business.

Anne has an MBA from Babson College, worked in the Defense and High Tech industries, packaged and sold assets, dissected and improved operations, set up Treasury departments, and owned successful entrepreneurial ventures.

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Myth: Planning is unnecessary because you only live once.

May 10, 2017

Kelly Shikany, CFP® CDFA™, Lakeside Wealth Management

In this episode, Kathleen talks to Kelly about the myth, “Planning is unnecessary because you only live once.” When people buy into this myth they often wait too long to seek the help of an advisor. Kelly busts this myth open and discusses the importance of financially planning for the future so you can enjoy today.

Listen and discover: 

  • How planning for the future now, gives you many more choices when it comes to how you want to live in retirement.
  • Why working with an advisor can help you define your core values so you can build a retirement plan that honors these ideals.
  • That you are never too young to plan for your future because you only live once!

Guest:

Kelly Shikany, CFP® is a member of the Financial Planning Association serving clients at Lakeside Wealth Management in Chesterton, IN, and the surrounding communities. Kelly has 20 years of investment management experience, is a strong advocate for women investors who may be managing life’s milestones, and a supporter of gender equality since 7th grade. She volunteers on the CFP® Boards Pilot program, "Each One Reach Three,” mentors women financial advisors and hosts a quarterly gathering for them to enhance financial confidence and engagement. You can contact Kelly at kellys@lakesidewealth.com, or visit her website at http://www.lakesidewealth.com.

To sign up for the Breaking Money Silence Podcast, click here.

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Myth: Couples need to be equally involved in managing money.

April 12, 2017

Julie Littlechild, Founder, Absolute Engagement

The idea that couples don’t need to be equally involved in managing money sounds contrary to popular financial planning mindsets. Kathleen and Julie discuss what happens when both individuals in a couple are not equally involved in finances, how to handle expectations, and improve effective communications around money. Listeners walk away with tips on how to reframe the money conversation, decide who is better equipped to take the lead on execution vs. vision for finances, and how advisors can help draw both individuals into the discussion. 

Julie Littlechild is a speaker, writer, and researcher. Her firm, Absolute Engagement, conducts on-going research into the drivers of personal, client and team engagement.

Julie has worked with and studied top performing financial advisors, their clients and their teams for twenty years. She is a recognized expert on driving deeper engagement and growth, the author of a popular blog. Her book, The Pursuit of Absolute Engagement, was released in January 2107. For more information, contact Julie at jlittlechild@absoluteengagement.com 

Special Announcement for Breaking Money Silence Podcast Listeners: 

Julie's first book, 'The Pursuit of Absolute Engagement' was released in January 2017. More information is available at www.absoluteengagement.com/book where listeners can download the first chapter free.

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Myth: I can’t save money.

March 15, 2017

Sam X Renick, Founder Sammy Rabbit

If couples have problems talking about money, just imagine how hard it is for them to teach their kids about money. As a parent, you may avoid money conversations because they can be an emotional or uncomfortable. If you are a teacher, you may not feel qualified to teach about money. But in today’s society of instant gratification, teaching our kids about money, money habits, and attitudes is vital if we want the next generation to have sound financial habits and a secure future. Listen to this episode as Kathleen interviews Sam about how to bust open money myths such as “I can’t save money.” and become involved in empowering the next generation to be financially savvy savers.

Special Offer: FREE download of Sammy Slogans on Money, a set of 15 printable activities that introduce students in grades K through 3 to eight of Sammy’ favorite slogans. (http://sammyrabbit.com/free-resources/)

Sam X Renick is the driving force behind the "It's a Habit" Company and Sammy Rabbit. They are dedicated to improving children’s financial literacy and empowering kids through development of great habits and strategic life skills. Sam has read and sung off key with over a quarter million children around the world, encouraging them to get in the habits of saving money and reading! He has won numerous honors throughout his career including the New Jersey Coalition for Financial Education's Lifetime Achievement Award! You can contact Sam at savingsammy@gmail.com

Website: www.SammyRabbit.com

LinkedIn: https://www.linkedin.com/in/samxrenick

Twitter: @SammyRabbit1

Facebook: https://www.facebook.com/itsahabit/  

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Myth: You should always financially take care of your family.

February 15, 2017

Rianka R. Dorsainvil, CFP®, Founder and President, Your Greatest Contribution (YGC)

When do you, or should you, stop taking care of your family financially and does this myth affect women and wealth more than men? The idea that you should let your family deal with the consequences of their financial choices may be harder for women to handle than men. In today’s episode, Kathleen and Rianka explore this money mindset and how it negatively affects having financially responsible family members.

Rianka R. Dorsainvil, CFP® is the Founder and President of Your Greatest Contribution (YGC), a virtual fee-only comprehensive financial planning firm dedicated to serving professionals in their 20’s, 30’s and 40’s. A strong advocate for young professionals, she served as 2016 National President of Financial Planning Association’s NexGen community, and currently sits on CNBC’s Financial Advisors Council. Rianka has been recognized by Investment News 2015 list of top “40 Under 40” financial services professionals, and in Wealth Management and Financial Advisor Magazine’s 2016 list of top 10 CFP holders in the country. For more information, visit Rianka’s website at www.ygcplanning.com.

Twitter: @Rianka_D  and  @YGCPlanning 

LinkedIn: https://www.linkedin.com/in/riankad

Facebook: https://www.facebook.com/YGCPlanning/ 

Special Offer: Breaking Money Silence™ listeners will receive a free e-book, Five

Steps to Keep More Money in Your Pocket, when you visit the Your Greatest Contribution home page and click on the DOWNLOAD NOW button.

 

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Myth: Money is the root of all evil

February 1, 2017

Megan McAvoy, President of Aspire to Retire Rich

How many times have you heard that money is the root of all evil? Actually, the true phrase is “for the love of money is a root of all kinds of evil.” Quite a different meaning, isn’t it? Listen to Megan and Kathleen discuss how believing that money is the root of all evil affects your financial health and how you can change that mindset by shifting your understanding that there is nothing wrong with money or the possession of money. It is only when money begins to control us that the trouble starts. 

Megan McAvoy inspires and impacts successful women in business to achieve personal wellbeing, business freedom, and financial security so that they may have everlasting fulfillment. She is the President of Aspire to Retire Rich and believes that there has never been a better time for women to understand their relationship to wealth.

For more information visit her new site: www.aspiretoretirerich.com or e-mail her at megan@meganmcavoy.com

Twitter: @Megan_McAvoy

LinkedIn: https://www.linkedin.com/in/megmcavoy

Special Offer for Breaking Money Silence Podcast Listeners: 

Sign up for Megan’s e-mail list and receive a free, 5-Day Women's Wealth & Wellbeing Master Class. 

Also check out the Aspire to Retire Rich Facebook group community at https://www.facebook.com/aspiretoretirerich/ and interact with Megan regularly.

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