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What happens when you stop outsourcing your power and start learning your numbers? In this episode, I’m joined by Liz Hansen—photographer and founder of Chicago Boudoir Photography—who shares how learning QuickBooks and taxes transformed her relationship with money, her business, and herself.
We explore the deeper mindset shift that happens when you move from financial avoidance to financial empowerment, and why financial literacy isn’t just about numbers—it’s about ownership.
In this episode we discuss:
- Why outsourcing without understanding creates disempowerment
- How financial literacy builds true confidence as a business owner
- The identity shift from “side hustle” to CEO
- What it really takes to feel secure as an entrepreneur
You can connect with Liz here:
- Chicago Boudoir (https://chicago-boudoir.com)
Want to learn more or connect with me?
Step 1: Join my FREE Facebook Community.
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➡️ Join here: https://www.facebook.com/groups/941450038160915
Step 2: Grab your FREE Human Design chart
Curious what your Human Design chart reveals about how you're uniquely designed to make aligned financial decisions?
➡️ Get your chart here: https://generatealifewelllived.com/receive-your-human-design-chart
Step 3: Ready to transform your relationship with money and build true financial confidence?
Let’s create a plan that feels aligned, intentional, and empowering—just for you.
➡️ Schedule your free clarity call here (https://tidycal.com/eringray/45-min-call-with-erin)
Money doesn't have to feel overwhelming. Let's create a plan that feels nurturing and custom to you.
From my soul to yours,
Erin
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Liz Hansen (00:00):
But learning how my books worked, how I could run
reports and QuickBooks, howthings got itemized, changed my
relationship with my business,because then what it meant was
every day I could wake up, lookat my QuickBooks, see how things
were going, see where my moneywas going, and make changes in
my business based on thatinformation.
So I had so much more controland power with that knowledge.
Erin Gray (00:13):
I had such a fun conversation with Liz Hanson on
the podcast this week.
Liz is the owner andphotographer behind Chicago
Boudoir Photography, a boutiquestudio that helps women feel
confident in their bodies, theirrelationships and their lives.
We talked about the identityshifts that come with being a
(00:33):
business owner, taking fullresponsibility for your money
and the kind of support thatmentorship can offer along the
way.
You know my intention withevery guest that I bring onto
this podcast is that you hearsomething that makes you feel
less alone and reminds you thatif another woman can move
through it, so can you.
(00:54):
I think you're going to findpieces of yourself in this
episode.
I'm going to include all ofLiz's info in the show notes for
you if you want to connect withher.
Okay, so let's dive into today'sepisode.
Thanks, Liz, for joining us.
Hey, thanks so much for havingme.
It's good to be here, yeah, solet's talk a little bit about
because I think your story isreally helpful and impactful to
(01:16):
other women and I want to kindof dive into when you were
starting out, when you had saidabout outsourcing some of your
tasks before you were ready.
If you talk, if you want toshare that, what, what feels
good to share, Because I alwaysencourage clients to yes, we can
outsource, but not before we'reready, Like we know the things
(01:37):
to outsource.
Liz Hansen (01:39):
Absolutely so.
I run a photo studio.
I'm a photographer, and there'swhen you're a small business
owner, you have to wear a lot ofhats, and anyone who's started
something or worked in a smallbusiness you know this right.
So it feels like my job a lotof times is like 5% taking
pictures and 95% running abusiness, right.
So there's, a lot of otherthings I have to do.
I've got to do marketing, I'vegot to network, I've got to keep
(02:02):
track of my books, I've got todo invoicing, I've got to do I
have some employees, I got topay them, I got to do taxes,
like there's all kinds of thingsRight.
And when I was first startingmy business, I was overwhelmed
by all the things and, of course, I reached out for help, which
I think is a good thing to do.
One of the things I did was Ihired someone to help me with my
(02:23):
bookkeeping and my accounting,and that was good.
I needed help and I also handedeverything over and just said I
don't know, take care of it,without really knowing what the
tasks that needed to be donewere and what the bookkeeper and
the accounting were doing forme.
And a few years into that, I, I,what, what.
(02:45):
What prompted making a changein that was?
I was meeting with some peopleand they were asking me
questions like what percentageof your revenue are you spending
on labor?
What percentage of yourbusiness goes to printing albums
and products for your clients?
And I was like I have no idea.
I have no idea, I can't tellyou the answers to these
(03:06):
questions.
So, and that bothered me Like Iwanted to know my business well
enough to answer any kind ofquestion, and so I asked my
bookkeeper can I sit down withyou a few hours and you just
show me, walk me through myQuickBooks, walk me through the
tasks you're doing, teach me howto do this?
And that was so empowering andso impactful in my business.
(03:31):
I paid the bookkeeper for theirtime to do that.
I wasn't just asking for afavor, but learning how my books
worked, how I could run reportsand QuickBooks, how things got
itemized, changed myrelationship with my business,
because then what it meant wasevery day I could wake up, look
at my QuickBooks, see how thingswere going, see where my money
(03:51):
was going and make changes in mybusiness based on that
information.
So I had so much more controland power with that knowledge.
So is outsourcing good andnecessary?
Absolutely.
But is outsourcing to a pointthat you don't know what's going
on in your business good?
It wasn't for me.
Erin Gray (04:09):
Yeah, did you have any knowledge with QuickBooks
before you got started in yourbusiness?
Liz Hansen (04:15):
No, so my background I'm actually was a teacher.
I was an ESL teacher English isa second language and then I
picked up a camera and became aphotographer and then I opened a
studio.
I was really, really didn'tknow what I was doing.
I was in over my head.
But I thought I'll figure thisout.
And I have figured it out, butI've made a lot of mistakes
along the way.
(04:35):
I had no understanding ofbookkeeping or accounting, no
experience with that.
I'd actually never filed my owntaxes before I started my
business, because I'd always hadeither my dad or my husband or
someone doing it for me.
I just didn't know.
Here's how naive I was.
I didn't know that businesseshad to file quarterly taxes.
I thought everyone just filedtheir taxes in April.
(04:56):
I didn't know there was suchthing as quarterly taxes, little
things like that.
I had to learn along the wayand I made some mistakes.
But running and running andkeeping a business running has
been like the best education ofmy life.
Erin Gray (05:11):
Yeah, and self-development.
I think you know, with a lot ofwomen, a lot of people that
have not grown up in theentrepreneurial space, right,
unless you have been abookkeeper or you went to school
for bookkeeping.
I mean, I got a degree infinance and the way that I
learned QuickBooks was ourbookkeeper quit on payroll day,
(05:32):
like I'm leaving today and doneyou know.
And so my dad and I literallydid payroll till like midnight.
We ordered pizza.
We did payroll.
Like I learned QuickBooks thefire hose way and, like you,
right, I, you know, ended uppaying for support.
But it was such a like now Ican look at reports for clients,
(05:54):
I can look at my own.
It's such a valuable thing tohave and I agree with you, right
, we do want to outsource it.
But if you don't know whatyou're looking at, if you don't
know how long things take whenyou're getting proposals from
people you have no idea to know,like is that even legit or is
(06:15):
this, you know?
So I think it's so and I thinkyou know the word I wrote down
was like how quickly we abdicateresponsibility.
How quickly we abdicateresponsibility Like we think we,
we, we think that we're doingand I'm air quoting.
You know like we think we'redoing a good job by saying like,
oh, we're going to have someonebecause that's what we hear,
right, a lot of business gurustalk about.
(06:37):
Well, you know, delegate.
But if you don't know and youdon't, you haven't done what you
are delegating.
It's hard to teach someonesomething, it's hard to sit with
someone and and walk throughreports and, like you said, I
love that.
You're like hey, just I'll payyou.
I remember same thing.
It was franchise tax, which issomething that happens in Texas
(06:58):
I don't think it happens veryoften with other states and I
came in and I started to learnabout franchise tax and how much
we were actually overpaying,because I took the time to sit
down and see what was above theline, what was below the line.
And I mean I remember gettinglike a I don't know a $5,000
bill or something like that fromthe CPA and my dad was like
what is this?
And I was like, listen, you buytools with your hands, right
(07:22):
For your hands, like my tool ismy brain and you know probably
$50,000, $70,000, I probablysaved understanding how that
worked and so it pays to, Ithink.
I think the initial thought islike I don't have time for that
or I don't want to do that, butyou have to think about your
(07:43):
business as this long standingthing that's going to happen and
what the foundation and thetime that you are putting in now
is going to pay dividends downthe road.
Liz Hansen (07:55):
Yeah, and I want to emphasize the outsourcing isn't
inherently bad.
When you're a business owner,you do not have to do everything
yourself, and in fact it'sreally impossible in some kinds
of businesses to do everythingyourself.
But as a business owner, thebuck stops with you.
The decisions come to you.
So the more knowledge you canhave, the more tools you can
(08:16):
have, the better decision makeryou will become.
So I actually still pay abookkeeper and a CPA.
I still have help, but Iunderstand so much better now
what it is they are doing andwhy so that I can understand
their emails and what they'reasking me and when problems
arise, I see them first in theQuickBooks.
So it's not that I don'tbelieve in outsourcing, but that
(08:38):
I believe in having, like,better partnerships with the
people that you outsource to,when you better understand what
it is that you need from them.
Erin Gray (08:46):
Yeah, I just actually recorded or I was editing a
podcast episode about like ourteam is not the boss of us.
You know, like we are, we arethe quarterback.
Like we have to look at it Likewe're the quarterback, we're
the ones that ultimately makethe decision and you work with
your CPA and your financialplanner and your attorney and
you know just your bookkeeperand all of these people help and
support you from the lens ofyou're the one.
(09:09):
Like you said, the buck stops Iuse that term all the time.
The buck stops with us.
Right, we're the ones that getto decide and if you don't
understand something, it's okay,because you're probably one in
millions that don't understandit.
I mean, I'm like you, I learnedthrough hard knocks and like,
wait what, how does this work?
What does this look like?
Like teach me all the thingsand once you have that knowledge
(09:33):
, you get to use that foreverand how.
That is actually helpful andimpactful for you and your
business and I think it helps toimprove your financial
confidence.
Liz Hansen (09:44):
Yeah, this is the good news and the bad news about
being a business owner, right.
So the good news about being abusiness owner is that you have
some freedom and you get to bein charge and you get to make
decisions.
The bad news you're in charge,you got to make the decisions
right.
So I think a lot of peoplestart a business thinking, wow,
the freedom this will give me.
I won't have to answer to aboss, I get to leave the
corporate rat race or whatever.
(10:06):
Whatever your reason forstarting business, I don't think
most people start a smallbusiness because they're like,
wow, I really want to doaccounting and books, like
that's not why you started yourbusiness.
I'm guessing you started yourbusiness because you love making
candles or you love takingphotos, or you love helping
people or you love beingoutdoors or whatever it is that
you do in your small business.
But, no matter what, if you'rerunning a business, you need to
(10:28):
do accounting and taxes right.
Even if you're a nonprofit,you've got to do accounting,
you've got taxes right.
So you need to understand, as asmall business owner, that
while you can have help, whileyou're going to delegate, while
that's going to help you, themore you can pull in-house.
Erin Gray (10:48):
The more you can pull in house, the more you can
understand in your own brain,the more empowered you will be,
the happier you'll be runningyour own business.
Yeah, and I also think thatthis comes back to identity,
like I think a lot of us I knowwhen I first started the first
go around, it was very much so,probably from an ego place and
from lack of like doing mybusiness, and this is going to
make me feel a certain wayversus this time around of like,
so much time off andself-development work for lack
(11:11):
of a better word and like,really like coming from a
sufficient and abundant place.
Like what am I capable of?
Not making things mean anythingabout me.
And I think a lot of us maybe Idon't want to say haven't spent
the time but we may not beaware of actually like, have we
(11:32):
changed and really thought aboutwho we are as a person and then
we have our business andseparating those two and really
feeling good about ourselves andwho we are as a human and then
building a business from there.
Liz Hansen (11:50):
It's interesting.
When I first started mybusiness I had a really hard
time putting on sort of thattitle of business owner or
entrepreneur.
I would have people say like,oh, you're an entrepreneur.
And I'd be like, no, I'm not, Ijust started a business.
And I think it can be hard,especially for a lot of women,
to take on the I'm, I'm incharge, I am doing this, I'm an
(12:12):
entrepreneur.
There's some kind of resistancesometimes, I think, to those
titles and a desire to say, oh,I'm just doing this little thing
out of my garage, oh, I'm juststarting this little side hustle
and to diminish it.
I don't know if that's becausewe're socialized sometimes to
play small or because it feelsscary to say out loud that
you're trying to do a big andbold thing.
(12:32):
But once I embraced that I am asmall business owner, I am an
entrepreneur, I serve people andbecause I serve people and
provide a product that they want, I deserve to get the knowledge
I need.
I deserve to hire the peoplethat can help me.
I deserve to go into networkingcircles and stand up and say
what I need.
I deserve to hire the peoplethat can help me.
I deserve to go into networkingcircles and stand up and say
(12:54):
what I do.
But that took some time for me,that personal identity.
That did not happen for meovernight.
I didn't open, get a lease atmy studio, open the door and
suddenly feel like I had the,that power that I deserve to be
there.
Erin Gray (13:07):
Yeah, I the same way I wrote down, like baby belief.
I think sometimes, like,depending on where you are, I
know that there have beencertain things.
For me, for sure, business hasbeen that way too of like, even
though I've had the knowledge,it's like there has been
something within me that feelslike I'm different, and so that
(13:27):
has been something that I'vereally had to work on of, um, I
think there's two parts of it.
I think there's when you areworking towards something where
you haven't fully embodied ityet, being very, um,
differentiating, I guess, orvery specific on who you want to
tell what you're doing, becauseyou are in this such special I
(13:51):
don't like to use the wordfragile, but just a very
delicate space, and so keeping,or or the people that you do let
in to tell about what you arestarting or what you want to do,
or where you are going, makingsure that those are people in
your life that just support youand just want, you know, to give
you all the added girls andhelp you.
(14:14):
Um, so there's that part, andthen there's also the part of
really like you're saying, liz,of like working into that
identity, and I think beliefscan be changed overnight, and I
do think that there are somethings depending on how deeply
seated you are in one belief.
Sometimes it takes a little bitof time and continuing to
(14:34):
cultivate that from a place oflove and compassion versus being
hard on yourself or beatingyourself up when you kind of,
you know, fall back into yourprevious identity.
Yeah, it's interesting when youtalk about who you share your
dreams with.
Liz Hansen (14:46):
I, you know, think back to like some.
It's interesting when you talkabout who you share your dreams
with, I you know, think back tolike some of your earliest
memories when you were told,like make a wish and blow out
your birthday candles but don'ttell anyone because it won't
come true.
Or, um, you know, I think a lotof times we're told, if you
talk about your dreams or yourgoals, that that's a bad thing.
Like, oh, she's talking so bigor why does she always have
(15:11):
these big, unachievable dreams,right, like, at least I know for
me, I felt in my heart thatsometimes it was bad to share
big goals or to say them outloud, and I think that's like
how you were talking about.
You have to know who you'retalking to and who that audience
is.
Is that someone who's going tosupport you in your big goal and
maybe point you to a resourceor at least just say I'm in your
(15:33):
corner?
Or is that someone who's goingto say don't do that, don't take
that risk?
Why would you put your familythrough that?
Why?
Why would you quit your job?
Why just do the easy?
Or like path of leastresistance?
Like, why would you start thathard thing, you know.
So if you don't have someone inyour life or circle in your
life that's going to support you, I would always recommend
trying to find that Like isthere a community online?
(15:55):
Is there a coaching group?
Is there a Facebook group?
Is there?
Are there some people that youcan find?
I know I had to seek that outbecause I didn't have a lot of
that in my own real life circlePeople who wanted to support me
in starting my photo studio.
In fact, almost everyonebesides my husband, who I told I
was starting a photo studio,was like don't do that.
That sounds like a bad idea.
(16:15):
That sounds like you're goingto lose money.
No one makes money inphotography.
Everyone has iPhones.
You can't ever make money as aphotographer.
That's what I heard over andover.
So I closed rank right, like Ididn't tell people what I was
doing.
I told very few people that Iwas opening a photo studio.
I didn't post about it on mysocial media.
But I joined a mastermindonline of photographers who were
(16:35):
running studios and that'swhere I found the support.
That's where I found I couldask questions.
That's where I could talk aboutmy dreams and that made a huge
difference for me early on inrunning my business.
Erin Gray (16:45):
Yeah, I think masterminds are, you know,
groups being around people.
I think we were saying the samething.
It's like there are definitelypeople that I did not tell in
the beginning because I knewwhat their answer would be.
So it was like I'm not evengoing to, so like what Liz is
saying is like being aroundpeople and also paying to be in
the room.
I want to go back real quick andsay, when people tell you
(17:07):
things like that, like oh,they're not going to, you're not
going to make money, or it'snot a good idea, they are always
showing you their beliefs.
Right, it has nothing to dowith us.
It has to do with what theybelieve about themselves, who
they are, what they're capableof.
And for a long time I didn'trecognize that that's what it
was, so I always made it meansomething.
Here we go back to making itmean something about me, versus
(17:28):
if they're actually just showingyou who they are, so just
recognizing.
Like when people say things,it's coming from their
perception, not anything to dowith, to do with us, um, and so
paying, you know, remember asyou're running your business too
, you will have some people,even like potential clients,
tell you like you're tooexpensive or your product.
Liz Hansen (17:54):
There will always be people who will tell you that
what you're doing isn't right,and that's something you have to
kind of put up with andremember just because someone is
not giving you money andtelling you that they don't like
your product, that doesn't meanthat their criticism is valid
or useful.
Maybe it is like feedback canbe a gift.
I'm not saying it's not, butsometimes it's just.
You just have to disregard whatpeople say, because they aren't
giving you money, they're notyour client, they don't know
(18:15):
what it is that you provide.
Erin Gray (18:17):
Yeah, so you want to talk about being in the room
Cause I think that's soimportant.
I think that tell me if otherfriends of yours that are in
business have like.
I have always paid because thathas been something.
Paying for business support wassomething that was always so
easy for me because that is whatI saw outside of you know what
(18:39):
happened in my family, butpaying for things for me to have
fun that had no attachment tobusiness, that has been some of
my work of like.
I just am going to go onvacation by myself because I can
like I didn't earn it.
There was a lot of earning tohave that I had to deconstruct
and change.
Liz Hansen (18:59):
I mean absolutely.
I agree with you so much, erin.
So two things here.
Number one paying for businesssupport.
I think there can be someresistance around that.
Some people say like, well, Ican figure this out, I can
YouTube it, and you can.
There is a lot of free adviceout there and there's a lot of,
and you should take advantage ofit.
Listen to podcasts, you shouldwatch the YouTubes.
But sometimes when you pay for amastermind or a course or a
(19:22):
coach, the fact that you paidfor it, not only will you
probably get higher qualityinformation, but you personally
will be more invested in gettinga return on your investment
right.
So you've paid, I don't know, athousand, 2000, 5,000, whatever
.
You've paid for some kind ofcourse or event or whatever, you
will probably in your heartthink I'm not going to skip this
(19:45):
, I paid for this, I'm not goingto not do the assignment, I
paid for this Right, and so theact of paying for it helps you
get results Right.
And then the other thing yousaid you were talking about
feeling resistance towardsspending on fun.
I mean, I absolutely can relateto that.
I grew up in a family that waspretty scarcity mindset.
(20:05):
We weren't poor, but there wasalways this idea that we should
do the cheapest thing and thatwe shouldn't waste money.
And, of course, like we don'twant to waste money, we do want
to be frugal, we do want to begood with our money.
But, like you, the idea of justsplurging on something, or that
I, as myself, deserved avacation or a nice item or
(20:28):
something that frivolous avacation or a nice item or
something that frivolous thatwas really hard to accept.
Because there's some worthiness,there's some value judgments
about what I deserve.
Do I deserve to rest?
Do I deserve to have nicethings?
Do I deserve to take a break?
Do I deserve to enjoy somethingjust for the sake of enjoying
it?
That comes down to what youbelieve about yourself, and when
(20:51):
you dig deep, it can beuncomfortable to realize that
you do you really believe thatyou don't deserve to rest?
Like, do you really believe youhave to work all the time?
Like?
That is to me something thatwe've been fed a lot.
Right, the work, work, work,hustle culture and you'll burn
out.
Erin Gray (21:11):
Yeah, with the masterminds, you know, I, I, I
think that there's knowledgewhich I think that you can get
anywhere, and then there's thatapplication and embodiment and,
like what Liz is saying, is likethe when you pay, you are able
to actually apply it and use itand take it into your body and
(21:34):
become that person that I mean,that's most of the time why you
are joining some type ofmastermind or some type of you
know group is to, ultimately, isto elevate your consciousness
and your state of being.
And we can read all the booksthat we want and watch all the
YouTubes, but until we actuallytake action from the place of
(21:59):
the person that has the thingthat we want there's, I mean,
you know, knowledge.
Knowledge only takes you so far.
And so taking action and herewe go back to worthiness, right,
worthiness of having what youwant, worthiness of taking the
action so that you can enjoyyour time off and your rest,
(22:22):
like a lot of us were brought upI know my clients have shared
this with me very similar oflike you have to earn things,
you know, earning, earning lovefrom grades or earning rest,
like I mean, there were threereasons why I didn't get to go
to school.
Either I was throwing up or Ihad like 105 fever or I think I
was dead, like those were thethree things that my mom said,
(22:42):
you know, and obviously she'schanged, but that's something
that she probably carried downfrom her parents, you know.
So a lot of us have beenparented and from the way that
you know our grandparents wereto our parents and so really,
really reparenting ourselves andgiving our inner child and
ourselves the things that we areworthy and deserving of having.
Liz Hansen (23:07):
Yeah, back to masterminds real quick.
I think it can be really hardto be what you can't see Like.
I've heard that and just beingaround other people who are
doing what you want to do not inand of itself is worth paying
for.
I have seen that over and overpeople.
You just it's hard to step in arole where you've never seen
someone like you do, especiallyif you're a woman who's never
(23:29):
seen another female businessowner Like.
When I started my business, Ididn't know any other female
business owners, so for me tostep into that role felt really
uncomfortable.
As soon as I joined amastermind and saw other women
doing exactly what I wanted todo, it suddenly gave me a
template, it suddenly gave me apath.
It suddenly felt achievablebecause I was in the room with
other people doing it.
Erin Gray (23:49):
Yeah, they always say , like more is caught than
taught, you know, and so it'slike just being around.
You know people that are doingthat and and they are I mean
because they are at a differentlevel, they are thinking
differently, and so you get to,you just get to be around that
and absorb that by being in thepresent.
And also it feels good.
(24:10):
It feels good to be with peoplethat are like thinking big
picture, big vision, making goodmoney and how they're using and
circulating their money.
Like that feels, at least forme.
Like that feels really fun andexciting and good.
Liz Hansen (24:29):
So I, um, I would like to talk a little bit about
risk.
I've always thought of myselfas quote unquote risk averse.
You know I didn't.
I don't like roller coasters, Idon't want to learn how to ski,
I don't like to do not anadrenaline junkie, right, I'm
someone who I wake up and I liketo have a routine.
(24:49):
I like things that are the same, I don't like risky things, and
so starting a business feltvery risky and I don't know if
any of your listeners will kindof agree with or feel that
they've felt that.
But taking risks is a necessarystep in a business and I've
really had to kind of acclimatemyself to risk a little bit and
(25:13):
say I'm going to take a stepinto the dark and I'm going to
try this thing that I've nevertried before, and I've made
mistakes and I've had to kind ofget comfortable with failure
and mistakes in a way that Ididn't have to when I had a job
or when I was doing other things.
Because as a business owner,there's just if you, if you
don't kind of, you won't growwithout taking some of those
(25:36):
hard, risky steps.
Now, I didn't ever like risk.
My whole house I, you know Ididn't mortgage my whole house
so that we didn't have anythingto eat or place to live.
I'm not talking about that, buteven just putting stuff out
there on social media, lettingmyself be authentic, letting
myself be seen trying new thingsin my studio and I didn't know
if they're going to workintroducing new products and
seeing if my audience likes them, I've really had to get used to
(26:01):
the idea that risk is okay,mistakes are okay, failure is
going to be okay.
We're going to make it throughthis, even if this doesn't work
out.
I'm going to try this step,even if I don't make money from
it, because that's, I feel like,where a lot of the personal
growth for me has happened inbusiness is being willing to
tolerate the uncertainty, thefailure and the risk that
(26:21):
inherently comes with being abusiness owner.
Erin Gray (26:25):
Yeah, window of tolerance is what comes to mind
for me, and it's like we canonly go as quickly as we feel
safe to do so, and I think thatthere is a very fine line and
you have to tap into your bodyto know is this fear of why I'm
saying no, or is this just alittle bit outside my comfort
(26:45):
zone?
And or do I actually just notwant to do this thing?
Because I do think that thereare things in business where we
have been taught you need to doit.
Like for me, I realized, like Idon't really enjoy being on
social media, like it's notsomething that I'm like yes, now
podcasting.
Yes, all day, every day, right,and so you have to really get
(27:07):
clear of like, what are youdoing?
Why are you doing it?
And is it coming from that fearwindow of tolerance?
This is outside my comfort zone, or is this like a true like I
actually don't have any desireto do this and I am coaching
myself into doing it becausesomeone else is successful doing
it this way, or?
And so really tapping into yourbody, slowing down and asking
(27:32):
yourself these questions andalways be on that when that, if
it is a yes, that window oftolerance, of, like I look at
our nervous systems like arubber band right, like how can
we stretch it just a little bitmore?
Like when you get a new rubberband and you try to expand it
all the way, it goes completelyback, right.
But if you're used to expandingthe rubber band a little bit at
(27:52):
a time, it will get bigger overtime.
And so what are the things thatI, that you can do that are
nourishing to your nervoussystem but still putting you a
little bit outside that comfortzone and taking action so that
you can move forward to whereyou want to go?
Liz Hansen (28:09):
Yeah, I mean fear can be a good thing, like you
said you need to tap into.
Is this truly?
Am I truly stopping myself fromdoing this Cause the fear is
rational and I should not dothis crazy thing?
Or am I stopping myself fromdoing it because I'm unable to
step even one inch outside mycomfort zone?
And discerning that can bedifficult, and that's where a
(28:31):
trusted community can reallyhelp you, I think, is.
Sometimes you can go to yourtrusted community, to your
mastermind, to the people whoyou know understand you and your
business a little bit, and sayI want to do this thing.
Am I crazy or am I?
Is this actually?
Could this actually be helpfulto me?
And if you can't discern thatfor yourself, yeah.
Erin Gray (28:50):
I also want to go back to risk.
I had a conversation with abanker yesterday.
I was learning about SBA loansand I told my husband I'm like
you know, the world does notactually prep you.
Like, if you have a job I meanI came from a nine to five ish
my husband has as well andthere's something there that the
(29:10):
3d world has created like, oh,you have a paycheck, so you're
secure, but you could literallyget fired in any moment, and so
this fake idea that we have, youknow, like I was asking about,
we were talking aboutinvestments and or something,
and and I'm just like thatamount of money is already there
.
Like you could see, this is I'ma, I'm a certain thing.
(29:32):
Here's this money and how muchthey put on.
You know, because if you're,you know loan or something of
that sort and you're newer inbusiness, like they look at that
very differently than if youhave a paycheck.
And it's just so fascinating tome to just look at the rules
that we have created as asociety of what equals safety,
what equals security and Ireally encourage my clients,
(29:55):
listeners and anyone in mysphere is like the certainty is
within you, you know, likecreating certainty within
yourself that no matter I meanin several ways right, like no
matter what I can feel, anyemotion, I'm going to be okay.
And also the certainty of like Iam highly resourceful, I will
figure this out so kind ofcertainty that we need to to
(30:15):
develop and to cultivate um asbusiness owners.
And when that doubt creeps in,like it will, because we all
have a human brain is like justpaying attention to and focusing
on.
I think that there is that partthat we do need to give it some
love, because sometimes that islike that little kid within us
that feels scared.
So it's not just a total pushaway, but once you have tended
(30:37):
to your little child, okay.
But we're moving on and youknow we're focusing on where
we're going and that's wherewe're going to spend our brain
space and our you know feelingsand our actions moving in that
direction.
Liz Hansen (30:51):
I felt this really strongly when we bought a house
a few years ago and I am a smallbusiness owner, so I don't have
a W-2 in the same way that Iwould if I had a 9-to-5.
And getting a mortgage with asmall business they act like
you're not as secure as if youhad a 9-to-5.
But, like you said, it's notactually a whole lot less secure
.
I mean, like you said, you canget fired.
Erin Gray (31:14):
I think it's more secure.
At least we know what.
Like you, create it right, likeI don't know.
Liz Hansen (31:18):
That's my thoughts, but yeah, so we do have this
idea that, like, people with anine to five are secure and
following the plan and doing theright thing, small business
owners they've gone rogue.
You know they're out theredoing their own thing.
We can't trust them with amortgage, right?
So I mean, I definitely cameinto owning a business with that
mindset as well, like that,somehow having a nine to five is
(31:38):
more normal, more prestigiousor something than being a small
business owner.
I've totally flipped my idea onthat.
Now I have such high respectfor small business owners,
people who start their own thing, those are the real go-getters,
those are the people who arewaking up every day and making
it happen.
Yeah, but I think a lot ofpeople don't understand or if
they haven't been around thatlike I mean, it can be a whole
(32:02):
new world to understand thedifference between a 95 and a
small business owner and whatthat means for how people
perceive you and your finances.
Erin Gray (32:10):
Yeah, yeah, and I think also of like how much I
was recognizing around, how Igrew up, of like if you have
money and if you have certaintypes of assets, that's actually
more valuable than other types.
So just I just am saying thisto call awareness, like if you
(32:31):
notice, of where you are likeit's okay.
Like just that awareness versus, I think, going so quick to
judgment, because when I say the3D world, I mean obviously the
material plane.
But if you actually look at howbanks work and how the stock
market works, it's not what wehave actually been told, and how
(32:51):
the stock market works it's notwhat we have actually been told
.
And so just how much we havebeen sold a bill of goods that
may not actually be factual.
And so just having that goingback to that certainty within
you, within yourself, what youcan create.
Going back to the SBA, I wasasking him some questions and I
(33:13):
said this this sounds very muchlike how the mortgage bailout is
.
And he's like well, not exactlyto that extent, but yeah, and
I'm like okay, but so it's justreally interesting to.
I mean, it's just interestingto really get into the nitty
gritty of like we I think a lotof us are like oh, it's a bank
(33:35):
or it's the stock market, it'sour investments and it's just
like this.
Has this, like you were sayingprestige to it, versus really
getting clear on, like, what'sactually happening behind the
scenes and like giving ourselvesthe the um attagirls for like
no going, going for what youwant, like that takes courage
(33:56):
and fortitude.
And to keep with something andto make it, you know, to create
it and to make it work, likethat is something to be very,
very proud of.
Liz Hansen (34:08):
And something to put on a resume if you decide to go
back to the 95.
So often I think people think,well, I, you know, I did this
small business.
I decided, for whatever reason,to close it and go back to nine
to five.
Like what am I going to do?
Listen, if you ran a businessfor a couple of years, that is a
fantastic credential yeah anduh should be downplayed.
(34:29):
I mean, running a business, youlearn so many aspects of life
interpersonal communication,finances, sales, marketing, that
, um, I mean, like we said atthe top of the interview, it's
the best self-development coursethere is.
Erin Gray (34:43):
In my opinion yeah, you don't.
You don't get that.
You don't get that anywhereelse.
And it really allows you, ifyou're willing, to really see
who you are and who you thinkyou are and what you're capable
of.
And I think it really, if youwill allow it, to expand who you
(35:04):
actually think you are and canbe.
Thank you so much, liz, forcoming on and sharing your time
with us.
Where can people find out aboutyou, learn more about you,
follow you, all the things?
Liz Hansen (35:13):
Well, thanks so much for having me, erin.
It's just been really fun tochat with you.
Uh, the best place to go is mywebsite, which is
chicagoboudoircom, where I canbe a tricky word to spell, it's
b-o-u-d-o-i-rcom.
If you go there, you can find afree ebook that I've got and
get in touch.
I'd love to hear from you.
Okay, okay, thank you.
But learning how my books worked, how I could run
reports and QuickBooks, howthings got itemized, changed my
relationship with my business,because then what it meant was
every day I could wake up, lookat my QuickBooks, see how things
were going, see where my moneywas going, and make changes in
my business based on thatinformation.
So I had so much more controland power with that knowledge.
Erin Gray (00:13):
I had such a fun conversation with Liz Hanson on
the podcast this week.
Liz is the owner andphotographer behind Chicago
Boudoir Photography, a boutiquestudio that helps women feel
confident in their bodies, theirrelationships and their lives.
We talked about the identityshifts that come with being a
(00:33):
business owner, taking fullresponsibility for your money
and the kind of support thatmentorship can offer along the
way.
You know my intention withevery guest that I bring onto
this podcast is that you hearsomething that makes you feel
less alone and reminds you thatif another woman can move
through it, so can you.
(00:54):
I think you're going to findpieces of yourself in this
episode.
I'm going to include all ofLiz's info in the show notes for
you if you want to connect withher.
Okay, so let's dive into today'sepisode.
Thanks, Liz, for joining us.
Hey, thanks so much for havingme.
It's good to be here, yeah, solet's talk a little bit about
because I think your story isreally helpful and impactful to
(01:16):
other women and I want to kindof dive into when you were
starting out, when you had saidabout outsourcing some of your
tasks before you were ready.
If you talk, if you want toshare that, what, what feels
good to share, Because I alwaysencourage clients to yes, we can
outsource, but not before we'reready, Like we know the things
(01:37):
to outsource.
Liz Hansen (01:39):
Absolutely so.
I run a photo studio.
I'm a photographer, and there'swhen you're a small business
owner, you have to wear a lot ofhats, and anyone who's started
something or worked in a smallbusiness you know this right.
So it feels like my job a lotof times is like 5% taking
pictures and 95% running abusiness, right.
So there's, a lot of otherthings I have to do.
I've got to do marketing, I'vegot to network, I've got to keep
(02:02):
track of my books, I've got todo invoicing, I've got to do I
have some employees, I got topay them, I got to do taxes,
like there's all kinds of thingsRight.
And when I was first startingmy business, I was overwhelmed
by all the things and, of course, I reached out for help, which
I think is a good thing to do.
One of the things I did was Ihired someone to help me with my
(02:23):
bookkeeping and my accounting,and that was good.
I needed help and I also handedeverything over and just said I
don't know, take care of it,without really knowing what the
tasks that needed to be donewere and what the bookkeeper and
the accounting were doing forme.
And a few years into that, I, I,what, what.
(02:45):
What prompted making a changein that was?
I was meeting with some peopleand they were asking me
questions like what percentageof your revenue are you spending
on labor?
What percentage of yourbusiness goes to printing albums
and products for your clients?
And I was like I have no idea.
I have no idea, I can't tellyou the answers to these
(03:06):
questions.
So, and that bothered me Like Iwanted to know my business well
enough to answer any kind ofquestion, and so I asked my
bookkeeper can I sit down withyou a few hours and you just
show me, walk me through myQuickBooks, walk me through the
tasks you're doing, teach me howto do this?
And that was so empowering andso impactful in my business.
(03:31):
I paid the bookkeeper for theirtime to do that.
I wasn't just asking for afavor, but learning how my books
worked, how I could run reportsand QuickBooks, how things got
itemized, changed myrelationship with my business,
because then what it meant wasevery day I could wake up, look
at my QuickBooks, see how thingswere going, see where my money
(03:51):
was going and make changes in mybusiness based on that
information.
So I had so much more controland power with that knowledge.
So is outsourcing good andnecessary?
Absolutely.
But is outsourcing to a pointthat you don't know what's going
on in your business good?
It wasn't for me.
Erin Gray (04:09):
Yeah, did you have any knowledge with QuickBooks
before you got started in yourbusiness?
Liz Hansen (04:15):
No, so my background I'm actually was a teacher.
I was an ESL teacher English isa second language and then I
picked up a camera and became aphotographer and then I opened a
studio.
I was really, really didn'tknow what I was doing.
I was in over my head.
But I thought I'll figure thisout.
And I have figured it out, butI've made a lot of mistakes
along the way.
(04:35):
I had no understanding ofbookkeeping or accounting, no
experience with that.
I'd actually never filed my owntaxes before I started my
business, because I'd always hadeither my dad or my husband or
someone doing it for me.
I just didn't know.
Here's how naive I was.
I didn't know that businesseshad to file quarterly taxes.
I thought everyone just filedtheir taxes in April.
(04:56):
I didn't know there was suchthing as quarterly taxes, little
things like that.
I had to learn along the wayand I made some mistakes.
But running and running andkeeping a business running has
been like the best education ofmy life.
Erin Gray (05:11):
Yeah, and self-development.
I think you know, with a lot ofwomen, a lot of people that
have not grown up in theentrepreneurial space, right,
unless you have been abookkeeper or you went to school
for bookkeeping.
I mean, I got a degree infinance and the way that I
learned QuickBooks was ourbookkeeper quit on payroll day,
(05:32):
like I'm leaving today and doneyou know.
And so my dad and I literallydid payroll till like midnight.
We ordered pizza.
We did payroll.
Like I learned QuickBooks thefire hose way and, like you,
right, I, you know, ended uppaying for support.
But it was such a like now Ican look at reports for clients,
(05:54):
I can look at my own.
It's such a valuable thing tohave and I agree with you, right
, we do want to outsource it.
But if you don't know whatyou're looking at, if you don't
know how long things take whenyou're getting proposals from
people you have no idea to know,like is that even legit or is
(06:15):
this, you know?
So I think it's so and I thinkyou know the word I wrote down
was like how quickly we abdicateresponsibility.
How quickly we abdicateresponsibility Like we think we,
we, we think that we're doingand I'm air quoting.
You know like we think we'redoing a good job by saying like,
oh, we're going to have someonebecause that's what we hear,
right, a lot of business gurustalk about.
(06:37):
Well, you know, delegate.
But if you don't know and youdon't, you haven't done what you
are delegating.
It's hard to teach someonesomething, it's hard to sit with
someone and and walk throughreports and, like you said, I
love that.
You're like hey, just I'll payyou.
I remember same thing.
It was franchise tax, which issomething that happens in Texas
(06:58):
I don't think it happens veryoften with other states and I
came in and I started to learnabout franchise tax and how much
we were actually overpaying,because I took the time to sit
down and see what was above theline, what was below the line.
And I mean I remember gettinglike a I don't know a $5,000
bill or something like that fromthe CPA and my dad was like
what is this?
And I was like, listen, you buytools with your hands, right
(07:22):
For your hands, like my tool ismy brain and you know probably
$50,000, $70,000, I probablysaved understanding how that
worked and so it pays to, Ithink.
I think the initial thought islike I don't have time for that
or I don't want to do that, butyou have to think about your
(07:43):
business as this long standingthing that's going to happen and
what the foundation and thetime that you are putting in now
is going to pay dividends downthe road.
Liz Hansen (07:55):
Yeah, and I want to emphasize the outsourcing isn't
inherently bad.
When you're a business owner,you do not have to do everything
yourself, and in fact it'sreally impossible in some kinds
of businesses to do everythingyourself.
But as a business owner, thebuck stops with you.
The decisions come to you.
So the more knowledge you canhave, the more tools you can
(08:16):
have, the better decision makeryou will become.
So I actually still pay abookkeeper and a CPA.
I still have help, but Iunderstand so much better now
what it is they are doing andwhy so that I can understand
their emails and what they'reasking me and when problems
arise, I see them first in theQuickBooks.
So it's not that I don'tbelieve in outsourcing, but that
(08:38):
I believe in having, like,better partnerships with the
people that you outsource to,when you better understand what
it is that you need from them.
Erin Gray (08:46):
Yeah, I just actually recorded or I was editing a
podcast episode about like ourteam is not the boss of us.
You know, like we are, we arethe quarterback.
Like we have to look at it Likewe're the quarterback, we're
the ones that ultimately makethe decision and you work with
your CPA and your financialplanner and your attorney and
you know just your bookkeeperand all of these people help and
support you from the lens ofyou're the one.
(09:09):
Like you said, the buck stops Iuse that term all the time.
The buck stops with us.
Right, we're the ones that getto decide and if you don't
understand something, it's okay,because you're probably one in
millions that don't understandit.
I mean, I'm like you, I learnedthrough hard knocks and like,
wait what, how does this work?
What does this look like?
Like teach me all the thingsand once you have that knowledge
(09:33):
, you get to use that foreverand how.
That is actually helpful andimpactful for you and your
business and I think it helps toimprove your financial
confidence.
Liz Hansen (09:44):
Yeah, this is the good news and the bad news about
being a business owner, right.
So the good news about being abusiness owner is that you have
some freedom and you get to bein charge and you get to make
decisions.
The bad news you're in charge,you got to make the decisions
right.
So I think a lot of peoplestart a business thinking, wow,
the freedom this will give me.
I won't have to answer to aboss, I get to leave the
corporate rat race or whatever.
(10:06):
Whatever your reason forstarting business, I don't think
most people start a smallbusiness because they're like,
wow, I really want to doaccounting and books, like
that's not why you started yourbusiness.
I'm guessing you started yourbusiness because you love making
candles or you love takingphotos, or you love helping
people or you love beingoutdoors or whatever it is that
you do in your small business.
But, no matter what, if you'rerunning a business, you need to
(10:28):
do accounting and taxes right.
Even if you're a nonprofit,you've got to do accounting,
you've got taxes right.
So you need to understand, as asmall business owner, that
while you can have help, whileyou're going to delegate, while
that's going to help you, themore you can pull in-house.
Erin Gray (10:48):
The more you can pull in house, the more you can
understand in your own brain,the more empowered you will be,
the happier you'll be runningyour own business.
Yeah, and I also think thatthis comes back to identity,
like I think a lot of us I knowwhen I first started the first
go around, it was very much so,probably from an ego place and
from lack of like doing mybusiness, and this is going to
make me feel a certain wayversus this time around of like,
so much time off andself-development work for lack
(11:11):
of a better word and like,really like coming from a
sufficient and abundant place.
Like what am I capable of?
Not making things mean anythingabout me.
And I think a lot of us maybe Idon't want to say haven't spent
the time but we may not beaware of actually like, have we
(11:32):
changed and really thought aboutwho we are as a person and then
we have our business andseparating those two and really
feeling good about ourselves andwho we are as a human and then
building a business from there.
Liz Hansen (11:50):
It's interesting.
When I first started mybusiness I had a really hard
time putting on sort of thattitle of business owner or
entrepreneur.
I would have people say like,oh, you're an entrepreneur.
And I'd be like, no, I'm not, Ijust started a business.
And I think it can be hard,especially for a lot of women,
to take on the I'm, I'm incharge, I am doing this, I'm an
(12:12):
entrepreneur.
There's some kind of resistancesometimes, I think, to those
titles and a desire to say, oh,I'm just doing this little thing
out of my garage, oh, I'm juststarting this little side hustle
and to diminish it.
I don't know if that's becausewe're socialized sometimes to
play small or because it feelsscary to say out loud that
you're trying to do a big andbold thing.
(12:32):
But once I embraced that I am asmall business owner, I am an
entrepreneur, I serve people andbecause I serve people and
provide a product that they want, I deserve to get the knowledge
I need.
I deserve to hire the peoplethat can help me.
I deserve to go into networkingcircles and stand up and say
what I need.
I deserve to hire the peoplethat can help me.
I deserve to go into networkingcircles and stand up and say
(12:54):
what I do.
But that took some time for me,that personal identity.
That did not happen for meovernight.
I didn't open, get a lease atmy studio, open the door and
suddenly feel like I had the,that power that I deserve to be
there.
Erin Gray (13:07):
Yeah, I the same way I wrote down, like baby belief.
I think sometimes, like,depending on where you are, I
know that there have beencertain things.
For me, for sure, business hasbeen that way too of like, even
though I've had the knowledge,it's like there has been
something within me that feelslike I'm different, and so that
(13:27):
has been something that I'vereally had to work on of, um, I
think there's two parts of it.
I think there's when you areworking towards something where
you haven't fully embodied ityet, being very, um,
differentiating, I guess, orvery specific on who you want to
tell what you're doing, becauseyou are in this such special I
(13:51):
don't like to use the wordfragile, but just a very
delicate space, and so keeping,or or the people that you do let
in to tell about what you arestarting or what you want to do,
or where you are going, makingsure that those are people in
your life that just support youand just want, you know, to give
you all the added girls andhelp you.
(14:14):
Um, so there's that part, andthen there's also the part of
really like you're saying, liz,of like working into that
identity, and I think beliefscan be changed overnight, and I
do think that there are somethings depending on how deeply
seated you are in one belief.
Sometimes it takes a little bitof time and continuing to
(14:34):
cultivate that from a place oflove and compassion versus being
hard on yourself or beatingyourself up when you kind of,
you know, fall back into yourprevious identity.
Yeah, it's interesting when youtalk about who you share your
dreams with.
Liz Hansen (14:46):
I, you know, think back to like some.
It's interesting when you talkabout who you share your dreams
with, I you know, think back tolike some of your earliest
memories when you were told,like make a wish and blow out
your birthday candles but don'ttell anyone because it won't
come true.
Or, um, you know, I think a lotof times we're told, if you
talk about your dreams or yourgoals, that that's a bad thing.
Like, oh, she's talking so bigor why does she always have
(15:11):
these big, unachievable dreams,right, like, at least I know for
me, I felt in my heart thatsometimes it was bad to share
big goals or to say them outloud, and I think that's like
how you were talking about.
You have to know who you'retalking to and who that audience
is.
Is that someone who's going tosupport you in your big goal and
maybe point you to a resourceor at least just say I'm in your
(15:33):
corner?
Or is that someone who's goingto say don't do that, don't take
that risk?
Why would you put your familythrough that?
Why?
Why would you quit your job?
Why just do the easy?
Or like path of leastresistance?
Like, why would you start thathard thing, you know.
So if you don't have someone inyour life or circle in your
life that's going to support you, I would always recommend
trying to find that Like isthere a community online?
(15:55):
Is there a coaching group?
Is there a Facebook group?
Is there?
Are there some people that youcan find?
I know I had to seek that outbecause I didn't have a lot of
that in my own real life circlePeople who wanted to support me
in starting my photo studio.
In fact, almost everyonebesides my husband, who I told I
was starting a photo studio,was like don't do that.
That sounds like a bad idea.
(16:15):
That sounds like you're goingto lose money.
No one makes money inphotography.
Everyone has iPhones.
You can't ever make money as aphotographer.
That's what I heard over andover.
So I closed rank right, like Ididn't tell people what I was
doing.
I told very few people that Iwas opening a photo studio.
I didn't post about it on mysocial media.
But I joined a mastermindonline of photographers who were
(16:35):
running studios and that'swhere I found the support.
That's where I found I couldask questions.
That's where I could talk aboutmy dreams and that made a huge
difference for me early on inrunning my business.
Erin Gray (16:45):
Yeah, I think masterminds are, you know,
groups being around people.
I think we were saying the samething.
It's like there are definitelypeople that I did not tell in
the beginning because I knewwhat their answer would be.
So it was like I'm not evengoing to, so like what Liz is
saying is like being aroundpeople and also paying to be in
the room.
I want to go back real quick andsay, when people tell you
(17:07):
things like that, like oh,they're not going to, you're not
going to make money, or it'snot a good idea, they are always
showing you their beliefs.
Right, it has nothing to dowith us.
It has to do with what theybelieve about themselves, who
they are, what they're capableof.
And for a long time I didn'trecognize that that's what it
was, so I always made it meansomething.
Here we go back to making itmean something about me, versus
(17:28):
if they're actually just showingyou who they are, so just
recognizing.
Like when people say things,it's coming from their
perception, not anything to dowith, to do with us, um, and so
paying, you know, remember asyou're running your business too
, you will have some people,even like potential clients,
tell you like you're tooexpensive or your product.
Liz Hansen (17:54):
There will always be people who will tell you that
what you're doing isn't right,and that's something you have to
kind of put up with andremember just because someone is
not giving you money andtelling you that they don't like
your product, that doesn't meanthat their criticism is valid
or useful.
Maybe it is like feedback canbe a gift.
I'm not saying it's not, butsometimes it's just.
You just have to disregard whatpeople say, because they aren't
giving you money, they're notyour client, they don't know
(18:15):
what it is that you provide.
Erin Gray (18:17):
Yeah, so you want to talk about being in the room
Cause I think that's soimportant.
I think that tell me if otherfriends of yours that are in
business have like.
I have always paid because thathas been something.
Paying for business support wassomething that was always so
easy for me because that is whatI saw outside of you know what
(18:39):
happened in my family, butpaying for things for me to have
fun that had no attachment tobusiness, that has been some of
my work of like.
I just am going to go onvacation by myself because I can
like I didn't earn it.
There was a lot of earning tohave that I had to deconstruct
and change.
Liz Hansen (18:59):
I mean absolutely.
I agree with you so much, erin.
So two things here.
Number one paying for businesssupport.
I think there can be someresistance around that.
Some people say like, well, Ican figure this out, I can
YouTube it, and you can.
There is a lot of free adviceout there and there's a lot of,
and you should take advantage ofit.
Listen to podcasts, you shouldwatch the YouTubes.
But sometimes when you pay for amastermind or a course or a
(19:22):
coach, the fact that you paidfor it, not only will you
probably get higher qualityinformation, but you personally
will be more invested in gettinga return on your investment
right.
So you've paid, I don't know, athousand, 2000, 5,000, whatever
.
You've paid for some kind ofcourse or event or whatever, you
will probably in your heartthink I'm not going to skip this
(19:45):
, I paid for this, I'm not goingto not do the assignment, I
paid for this Right, and so theact of paying for it helps you
get results Right.
And then the other thing yousaid you were talking about
feeling resistance towardsspending on fun.
I mean, I absolutely can relateto that.
I grew up in a family that waspretty scarcity mindset.
(20:05):
We weren't poor, but there wasalways this idea that we should
do the cheapest thing and thatwe shouldn't waste money.
And, of course, like we don'twant to waste money, we do want
to be frugal, we do want to begood with our money.
But, like you, the idea of justsplurging on something, or that
I, as myself, deserved avacation or a nice item or
(20:28):
something that frivolous avacation or a nice item or
something that frivolous thatwas really hard to accept.
Because there's some worthiness,there's some value judgments
about what I deserve.
Do I deserve to rest?
Do I deserve to have nicethings?
Do I deserve to take a break?
Do I deserve to enjoy somethingjust for the sake of enjoying
it?
That comes down to what youbelieve about yourself, and when
(20:51):
you dig deep, it can beuncomfortable to realize that
you do you really believe thatyou don't deserve to rest?
Like, do you really believe youhave to work all the time?
Like?
That is to me something thatwe've been fed a lot.
Right, the work, work, work,hustle culture and you'll burn
out.
Erin Gray (21:11):
Yeah, with the masterminds, you know, I, I, I
think that there's knowledgewhich I think that you can get
anywhere, and then there's thatapplication and embodiment and,
like what Liz is saying, is likethe when you pay, you are able
to actually apply it and use itand take it into your body and
(21:34):
become that person that I mean,that's most of the time why you
are joining some type ofmastermind or some type of you
know group is to, ultimately, isto elevate your consciousness
and your state of being.
And we can read all the booksthat we want and watch all the
YouTubes, but until we actuallytake action from the place of
(21:59):
the person that has the thingthat we want there's, I mean,
you know, knowledge.
Knowledge only takes you so far.
And so taking action and herewe go back to worthiness, right,
worthiness of having what youwant, worthiness of taking the
action so that you can enjoyyour time off and your rest,
(22:22):
like a lot of us were brought upI know my clients have shared
this with me very similar oflike you have to earn things,
you know, earning, earning lovefrom grades or earning rest,
like I mean, there were threereasons why I didn't get to go
to school.
Either I was throwing up or Ihad like 105 fever or I think I
was dead, like those were thethree things that my mom said,
(22:42):
you know, and obviously she'schanged, but that's something
that she probably carried downfrom her parents, you know.
So a lot of us have beenparented and from the way that
you know our grandparents wereto our parents and so really,
really reparenting ourselves andgiving our inner child and
ourselves the things that we areworthy and deserving of having.
Liz Hansen (23:07):
Yeah, back to masterminds real quick.
I think it can be really hardto be what you can't see Like.
I've heard that and just beingaround other people who are
doing what you want to do not inand of itself is worth paying
for.
I have seen that over and overpeople.
You just it's hard to step in arole where you've never seen
someone like you do, especiallyif you're a woman who's never
(23:29):
seen another female businessowner Like.
When I started my business, Ididn't know any other female
business owners, so for me tostep into that role felt really
uncomfortable.
As soon as I joined amastermind and saw other women
doing exactly what I wanted todo, it suddenly gave me a
template, it suddenly gave me apath.
It suddenly felt achievablebecause I was in the room with
other people doing it.
Erin Gray (23:49):
Yeah, they always say , like more is caught than
taught, you know, and so it'slike just being around.
You know people that are doingthat and and they are I mean
because they are at a differentlevel, they are thinking
differently, and so you get to,you just get to be around that
and absorb that by being in thepresent.
And also it feels good.
(24:10):
It feels good to be with peoplethat are like thinking big
picture, big vision, making goodmoney and how they're using and
circulating their money.
Like that feels, at least forme.
Like that feels really fun andexciting and good.
Liz Hansen (24:29):
So I, um, I would like to talk a little bit about
risk.
I've always thought of myselfas quote unquote risk averse.
You know I didn't.
I don't like roller coasters, Idon't want to learn how to ski,
I don't like to do not anadrenaline junkie, right, I'm
someone who I wake up and I liketo have a routine.
(24:49):
I like things that are the same, I don't like risky things, and
so starting a business feltvery risky and I don't know if
any of your listeners will kindof agree with or feel that
they've felt that.
But taking risks is a necessarystep in a business and I've
really had to kind of acclimatemyself to risk a little bit and
(25:13):
say I'm going to take a stepinto the dark and I'm going to
try this thing that I've nevertried before, and I've made
mistakes and I've had to kind ofget comfortable with failure
and mistakes in a way that Ididn't have to when I had a job
or when I was doing other things.
Because as a business owner,there's just if you, if you
don't kind of, you won't growwithout taking some of those
(25:36):
hard, risky steps.
Now, I didn't ever like risk.
My whole house I, you know Ididn't mortgage my whole house
so that we didn't have anythingto eat or place to live.
I'm not talking about that, buteven just putting stuff out
there on social media, lettingmyself be authentic, letting
myself be seen trying new thingsin my studio and I didn't know
if they're going to workintroducing new products and
seeing if my audience likes them, I've really had to get used to
(26:01):
the idea that risk is okay,mistakes are okay, failure is
going to be okay.
We're going to make it throughthis, even if this doesn't work
out.
I'm going to try this step,even if I don't make money from
it, because that's, I feel like,where a lot of the personal
growth for me has happened inbusiness is being willing to
tolerate the uncertainty, thefailure and the risk that
(26:21):
inherently comes with being abusiness owner.
Erin Gray (26:25):
Yeah, window of tolerance is what comes to mind
for me, and it's like we canonly go as quickly as we feel
safe to do so, and I think thatthere is a very fine line and
you have to tap into your bodyto know is this fear of why I'm
saying no, or is this just alittle bit outside my comfort
(26:45):
zone?
And or do I actually just notwant to do this thing?
Because I do think that thereare things in business where we
have been taught you need to doit.
Like for me, I realized, like Idon't really enjoy being on
social media, like it's notsomething that I'm like yes, now
podcasting.
Yes, all day, every day, right,and so you have to really get
(27:07):
clear of like, what are youdoing?
Why are you doing it?
And is it coming from that fearwindow of tolerance?
This is outside my comfort zone, or is this like a true like I
actually don't have any desireto do this and I am coaching
myself into doing it becausesomeone else is successful doing
it this way, or?
And so really tapping into yourbody, slowing down and asking
(27:32):
yourself these questions andalways be on that when that, if
it is a yes, that window oftolerance, of, like I look at
our nervous systems like arubber band right, like how can
we stretch it just a little bitmore?
Like when you get a new rubberband and you try to expand it
all the way, it goes completelyback, right.
But if you're used to expandingthe rubber band a little bit at
(27:52):
a time, it will get bigger overtime.
And so what are the things thatI, that you can do that are
nourishing to your nervoussystem but still putting you a
little bit outside that comfortzone and taking action so that
you can move forward to whereyou want to go?
Liz Hansen (28:09):
Yeah, I mean fear can be a good thing, like you
said you need to tap into.
Is this truly?
Am I truly stopping myself fromdoing this Cause the fear is
rational and I should not dothis crazy thing?
Or am I stopping myself fromdoing it because I'm unable to
step even one inch outside mycomfort zone?
And discerning that can bedifficult, and that's where a
(28:31):
trusted community can reallyhelp you, I think, is.
Sometimes you can go to yourtrusted community, to your
mastermind, to the people whoyou know understand you and your
business a little bit, and sayI want to do this thing.
Am I crazy or am I?
Is this actually?
Could this actually be helpfulto me?
And if you can't discern thatfor yourself, yeah.
Erin Gray (28:50):
I also want to go back to risk.
I had a conversation with abanker yesterday.
I was learning about SBA loansand I told my husband I'm like
you know, the world does notactually prep you.
Like, if you have a job I meanI came from a nine to five ish
my husband has as well andthere's something there that the
(29:10):
3d world has created like, oh,you have a paycheck, so you're
secure, but you could literallyget fired in any moment, and so
this fake idea that we have, youknow, like I was asking about,
we were talking aboutinvestments and or something,
and and I'm just like thatamount of money is already there
.
Like you could see, this is I'ma, I'm a certain thing.
(29:32):
Here's this money and how muchthey put on.
You know, because if you're,you know loan or something of
that sort and you're newer inbusiness, like they look at that
very differently than if youhave a paycheck.
And it's just so fascinating tome to just look at the rules
that we have created as asociety of what equals safety,
what equals security and Ireally encourage my clients,
(29:55):
listeners and anyone in mysphere is like the certainty is
within you, you know, likecreating certainty within
yourself that no matter I meanin several ways right, like no
matter what I can feel, anyemotion, I'm going to be okay.
And also the certainty of like Iam highly resourceful, I will
figure this out so kind ofcertainty that we need to to
(30:15):
develop and to cultivate um asbusiness owners.
And when that doubt creeps in,like it will, because we all
have a human brain is like justpaying attention to and focusing
on.
I think that there is that partthat we do need to give it some
love, because sometimes that islike that little kid within us
that feels scared.
So it's not just a total pushaway, but once you have tended
(30:37):
to your little child, okay.
But we're moving on and youknow we're focusing on where
we're going and that's wherewe're going to spend our brain
space and our you know feelingsand our actions moving in that
direction.
Liz Hansen (30:51):
I felt this really strongly when we bought a house
a few years ago and I am a smallbusiness owner, so I don't have
a W-2 in the same way that Iwould if I had a 9-to-5.
And getting a mortgage with asmall business they act like
you're not as secure as if youhad a 9-to-5.
But, like you said, it's notactually a whole lot less secure
.
I mean, like you said, you canget fired.
Erin Gray (31:14):
I think it's more secure.
At least we know what.
Like you, create it right, likeI don't know.
Liz Hansen (31:18):
That's my thoughts, but yeah, so we do have this
idea that, like, people with anine to five are secure and
following the plan and doing theright thing, small business
owners they've gone rogue.
You know they're out theredoing their own thing.
We can't trust them with amortgage, right?
So I mean, I definitely cameinto owning a business with that
mindset as well, like that,somehow having a nine to five is
(31:38):
more normal, more prestigiousor something than being a small
business owner.
I've totally flipped my idea onthat.
Now I have such high respectfor small business owners,
people who start their own thing, those are the real go-getters,
those are the people who arewaking up every day and making
it happen.
Yeah, but I think a lot ofpeople don't understand or if
they haven't been around thatlike I mean, it can be a whole
(32:02):
new world to understand thedifference between a 95 and a
small business owner and whatthat means for how people
perceive you and your finances.
Erin Gray (32:10):
Yeah, yeah, and I think also of like how much I
was recognizing around, how Igrew up, of like if you have
money and if you have certaintypes of assets, that's actually
more valuable than other types.
So just I just am saying thisto call awareness, like if you
(32:31):
notice, of where you are likeit's okay.
Like just that awareness versus, I think, going so quick to
judgment, because when I say the3D world, I mean obviously the
material plane.
But if you actually look at howbanks work and how the stock
market works, it's not what wehave actually been told, and how
(32:51):
the stock market works it's notwhat we have actually been told
.
And so just how much we havebeen sold a bill of goods that
may not actually be factual.
And so just having that goingback to that certainty within
you, within yourself, what youcan create.
Going back to the SBA, I wasasking him some questions and I
(33:13):
said this this sounds very muchlike how the mortgage bailout is
.
And he's like well, not exactlyto that extent, but yeah, and
I'm like okay, but so it's justreally interesting to.
I mean, it's just interestingto really get into the nitty
gritty of like we I think a lotof us are like oh, it's a bank
(33:35):
or it's the stock market, it'sour investments and it's just
like this.
Has this, like you were sayingprestige to it, versus really
getting clear on, like, what'sactually happening behind the
scenes and like giving ourselvesthe the um attagirls for like
no going, going for what youwant, like that takes courage
(33:56):
and fortitude.
And to keep with something andto make it, you know, to create
it and to make it work, likethat is something to be very,
very proud of.
Liz Hansen (34:08):
And something to put on a resume if you decide to go
back to the 95.
So often I think people think,well, I, you know, I did this
small business.
I decided, for whatever reason,to close it and go back to nine
to five.
Like what am I going to do?
Listen, if you ran a businessfor a couple of years, that is a
fantastic credential yeah anduh should be downplayed.
(34:29):
I mean, running a business, youlearn so many aspects of life
interpersonal communication,finances, sales, marketing, that
, um, I mean, like we said atthe top of the interview, it's
the best self-development coursethere is.
Erin Gray (34:43):
In my opinion yeah, you don't.
You don't get that.
You don't get that anywhereelse.
And it really allows you, ifyou're willing, to really see
who you are and who you thinkyou are and what you're capable
of.
And I think it really, if youwill allow it, to expand who you
(35:04):
actually think you are and canbe.
Thank you so much, liz, forcoming on and sharing your time
with us.
Where can people find out aboutyou, learn more about you,
follow you, all the things?
Liz Hansen (35:13):
Well, thanks so much for having me, erin.
It's just been really fun tochat with you.
Uh, the best place to go is mywebsite, which is
chicagoboudoircom, where I canbe a tricky word to spell, it's
b-o-u-d-o-i-rcom.
If you go there, you can find afree ebook that I've got and
get in touch.
I'd love to hear from you.
Okay, okay, thank you.
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