Episode Transcript
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Speaker 1 (00:01):
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Speaker 1 (01:42):
Welcome to just smind them my business. I'm so glad
that you stop by. I am so so excited to
bring to you. Lisa Peterson, who is a money coach
and a Sudden Wealth Specialist who helps entrepreneurs, was revolutionized
their relationship with money. After years working as a traditional
(02:06):
financial advisor, she founded Wealth Clinic to address what the
industry was missing, the behavior and mindset aspects of wealth building.
She's also so the author of The Money Catalyst and
The Mindful Millionaire. Lisa was recognized by Forbes as one
(02:26):
of the pioneering ten women driving Growth and wealth manager
and investing. Wow, you've been a busy big Lisa. It's amazing. Yes, well, welcome, welcome,
and I am so glad of what you do because
(02:48):
we all know how important our mindset is with every
single thing that we do, and most financial advisors do
not that area. So I'm thanking you for what you do. Oh,
thank you. Yes, indeed, so tell us about the Wealth Clinic.
(03:11):
And first I want to know what's the Sudden Wealth Specialist?
So what is that?
Speaker 4 (03:18):
Yeah, this has been a pivot recently because every once
in a while, as you know, in business, will pause
and we'll think about who's showing up, what are they
asking for? How am I helping them? And recently I
was like, wait, everyone has this in common where they've
got more money coming in than they have been prepared for.
(03:39):
So it could be a new business that really takes off,
and they're like, what do I do with all this
money I'm making? What a problem? Right? It actually is
a problem if you don't know what to do with
it and how to take care of it. But also people,
right we have this great wealth transfer that's occurring, especially
in the United States right now, where people pass away
(04:02):
they've got assets, they're passing them down to their children
or grandchildren. And we also have people selling companies, especially
smaller companies, you know, where they didn't even realize that
they could make let's say a quarter million dollars by
selling their company, and so they've never experienced that kind
of wealth influx. And because of my background, I've been
(04:24):
a millionaire now for more than twenty years. My husband
and I have been building wealth for thirty plus years together.
I have an MBA in finance. I've been a certified
financial planner, all said, and a business owner for thirty years.
You learn a lot through the process of helping people
as a financial advisor, but you don't learn at all.
(04:44):
And so what I learned is that these folks who
are having this influx of money, if they can learn
both the mindset so that they can really be a
good steward of their money and the practical aspects from
an educational standpoint, not because I want to be their
advisor for the rest of their lives, but because I
want to help them make really good decisions at the
(05:05):
pivotal moments when it matters most.
Speaker 1 (05:09):
And that's amazing, because they're both hand in hand, you know.
And it's just like you said, some people win the lottery,
but because they have no mindset around around money, they
quickly lose it all because they don't have that mindset.
(05:29):
So tell me how you address that issue.
Speaker 4 (05:34):
The first thing, which I've really been doing for twenty
years now, but especially when I started my company eleven
years ago, Wealth Clinic, I was curious about why some
people get stuck in a scarcity mindset and why some
people are just always abundant thinkers. And I reverse engineered
by meeting with people who really good with money, never
(05:58):
had to receive any mindset training, just knew what to
do and they know how to do it. And also
with a lot of people who struggle, and so through
the course of figuring out what were the differences and
what do we need to bust through to move from
the scarcity camp to the abundance camp, that's where the
philosophy and the training and the teachings and the breakthrough
work that I've perfected comes in. One of the things
(06:21):
I always want to do when I first meet with
someone is I want to understand what's the thread that
holds their belief system together around money? And many times
it's just one thing that comes up over and over
again in different ways. And so by me asking a
lot of questions about what is your money story, what
(06:43):
were your first experiences with money, How is money treated
in the home growing up? What were those messages that
you were receiving about money early on, whether it be
economically because you were raised during a recession or even
a depression. For those that did live through that, it
changes how we think about money. And so I'm trying
(07:03):
to understand where is somebody at and where do they
want to go what's not working for them? And then
that gap is what I focus most of my time
and attention on, whether it be mindset or practical understanding
of money.
Speaker 1 (07:20):
Yes, that's so important because that mindset actually starts from
the home where everything else starts. You know, your parents,
they might have a mind set around money and you
learn that from them.
Speaker 4 (07:38):
Yeah, there's data. There's a research study that was done
in the early like twenty thirteen in the UK that
figured out that children by the age of seven already
have a conceptual understanding of money, even though they're not
dealing with money, all because of the influences of what's
(07:58):
happening in the home.
Speaker 1 (08:00):
Yes, absolutely, because they hear the conversations, they pay attention
to the actions, all of that.
Speaker 4 (08:11):
Yep. Yeah. And it's more about, like this is the
disconnect for many of us. It's not just telling our
children or when we were children. It's not just about
telling them what you want. It's about are you embodying
it right? Because you could say one thing and do
another and they're going to pay attention right to what
(08:31):
you're doing.
Speaker 1 (08:32):
Yes, absolutely, all the time. It's not what you say,
it's what you do. But sure, Now, let's talk about
your book, The Money Catalysts. What do people expect from that?
Speaker 4 (08:49):
This is my second book. What I realized in writing
the first book is that I know a lot and
many people when they're learning about their relationship with money.
It's a lot easier to go into someone else's story
and learn about the challenges that they're having with money,
rather than reading a book about your own relationship with money,
(09:13):
because there's a lot of baggage there, which we've already
talked about. So The Money Catalyst is a fictional parable
of a thirty four year old woman who goes on
a journey to figure out why is she living in
scarcity and is there anything she could do differently that
would help her move into more abundant life. And in
the course of that, she confronts her relationship with her husband,
(09:36):
who's very controlling about money. She confronts her relationship with
her mother, her mother who really struggles with money and
she was raised in that relationship. She deals with herself
in some of this kind of shadows, if we will,
things that show up in her work environment of like
I got to get ahead, I got to do whatever
(09:57):
it takes to get what I need to get. You know,
it's cringey at times because these are the things that
I've witnessed with my clients, thousands of them, all put
into one short story that's incredibly easy to read. It's
kind of like the Alchemist. You're going on a journey
to learn about yourself, and there's journaling questions along the
(10:19):
way to help you pause and be like, Okay, I
see what's going on for her, but like what's this
bringing up for me? And that continues through the whole book.
Speaker 1 (10:30):
Oh wow, that sounds nice, I mean really nice. So
how do people get that book?
Speaker 4 (10:37):
Yeah, it's available on Amazon and other you know, bookstore booksellers.
But the other thing that they can do, well, how
about we give them like a secret passageway to like
get going with this. This is what we're going to do. Okay,
I don't do this all the time, but I'm really
enjoying you and our conversation. So if you go to
moneycatalystbook dot com and and you'll see that there's like, oh,
(11:02):
if you buy the book, you'll get some free bonuses.
But if you put in your name and your email address,
and then you just put in zero one, which is
like the receipt number. You'll come into the bonus world
without buying the book, and you'll be able to get
not just the beginning of a book, but you'll get
like ten meditations, you'll get the journal. You're going to
(11:24):
get it all for free. And that's my invitation for
you to see if this is something that you do
want to make the investment on, and then like the
E book is like ten dollars, the hard copy book
in the US is like twenty bucks, but you don't
have to do that. You can see if this is
something that you're like, oh my gosh, this is what
I need, and all of that'll be free for you.
Speaker 1 (11:44):
Oh right, that is wonderful, wonderful, wonderful, wonderful. Okay, let's
talk about mind the mindful Minionan, Yeah, tell me about
that book and what women what people can take away
from that.
Speaker 4 (12:03):
Mindful Millionaire is a nonfiction book, So this is about
your journey to understanding money. Depending on what it does
is it gives you a narrative to take you through
a process of understanding your money story. Like let's write
your money story. Let's really understand where you're getting stuck.
(12:26):
Let's understand at a deeper level, what are the issues
and patterns that are coming up with money and how
can you actually move through them? So this is a
like a work book slash. It's not your fault, Like
our world is kind of messed up around money, you know,
Like this is something you didn't We didn't get enough
education when we were growing up about money for the
(12:47):
most part, Like this is a compassionate guide that helps
you creates greater self love and appreciation at the same
time learning more about money.
Speaker 1 (13:00):
Yes, yes, and I think that's important. Once you recognize
that you do have something going on around the money,
it's important to get the help that you need because
you've got a lot of junk in the trunk. I
(13:20):
like to call it that needs addressing because it's not
serving you. So let me just ask, how do you work.
Do you work with people in groups one on one
with you know, really getting an understanding and understanding. Yes,
(13:41):
I do have a problem.
Speaker 4 (13:43):
Yeah, I have done it all in the course of
running my business. But a few years ago my husband
got cancer and I decided to like back away from
the intensity of like having lots of you know, big groups.
We had over one hundred students in our programs, and
so I've been gradually easing back, mostly focused on writing
(14:07):
the money catalysts, because I want to help people no
matter what, no matter what they can afford, no matter
what they can do. But when it comes to working
with people privately, now I am really oriented to like,
when there's an urgent need that someone knows like I
have to figure this out, and for whatever reason I'm
(14:29):
coming into their consciousness, then I will make myself available
to help them, whether it be a thirty minute free
consultation to just make sure they're headed in the right direction.
But if they feel like they need more, then I
can gladly help them. And oftentimes it's like one month,
let's put the whole financial plan together and let's figure
(14:51):
out what kind of breakthrough work do you need as
it pertains to the mindset, and then what kind of
tools do you need to learn or put in place
so that you can build greater, consistent, sustainable wealth for yourself?
Speaker 2 (15:06):
Yes?
Speaker 1 (15:07):
Yes, because you such a your energy is so powerful,
you know, I would read the book. I still want
to talk.
Speaker 4 (15:16):
Yay. I like that I am really in this phase
of life, you know, and I can feel this for
you it's like service first, Like I am so blessed,
I am so fortunate. If people want to email me
and ask me questions, like I feel like it's an
honor to help them, and I have so much grace
and good fortune, then I can do that, like I
(15:38):
have the flexibility to be of assistance even if somebody
is not paying me, like that's not so important to
me anymore.
Speaker 1 (15:46):
Yes, Yes, So let's talk about the seven central parts
of every thribing business because you already know we got
businesses that pop up because the necessity, you know, because
something else failed for them, or we got people that
actually planned it out or the people that kind of
(16:09):
fell into it. So how does that work? How do
we help those folks? How do we help businesses? Period?
Speaker 4 (16:19):
Yeah, well, maybe we can do this together because I'm
sure you've got lots of ideas. But the one thing
that I will just say coming into this is, let's say,
are we talking about like somebody's in the beginning phases
of their business, they're not sure that it's like totally
taking off yet, or they're still working through those details.
Is that sort of the audience?
Speaker 1 (16:41):
Yes, yes, we can. We can talk about that, and
we can also talk about once you arrived, Yeah, how
to stay in the games, so to speak, and not lose.
Speaker 4 (16:55):
Yes, yes, yes, yes. So for those folks that are
still figuring it out, the thing that I love to
talk about for a moment is that there's an idea
that we often have where we've got to get it perfect,
we've got to figure it all out, we've got to
like be ready to go. And unfortunately that's not really
(17:15):
entrepreneurship because things could change a lot in the course
of you launching and putting it together. And I wish
someone had really told me this early on that it's
like build your best viable option and test it. Get
it out there, see what people are willing to pay
(17:36):
you for it. Don't wait because you need it to
be perfect. Test test, test, get feedback, ask questions, Have
people try what you're doing, experience it, give you testimonials
like be in the field, on the field of play
as soon as possible, and you will learn more than
(17:58):
you could even imagine. But it's when we hold back
and don't are so afraid of failure that we don't
have the quickest success.
Speaker 1 (18:09):
Yes, and one of the things that we know is
that you can't read about it. It's all about the action.
It's all about developing and moving forward with it and
not worrying about the mistakes all of that stuff, because
you're going to make mistakes, and quite frankly, if it
(18:31):
comes out perfect, it was a mistake and you will
never remember how it happened.
Speaker 4 (18:43):
Yes, yes, I love it. And on the topic of money,
my daughter started a company about three years ago and
it's really taken off. And I use some of the
things I've learned that she's had so much success with
and I put them into the money because they're like
relevant and they're happening and she's she's really thriving. But
(19:04):
one of those is the importance of feeling good about
money right, asking for money, being comfortable receiving nos along
the way. Like she's learned that if she isn't hearing
enough nos, she's not charging enough for what she's doing.
Like I don't know why that seems such like such
(19:27):
a big deal to me, but I couldn't believe it,
because she proves it over and over again that by
having that philosophy, she is doubling, tripling, quadrupling what she
charges because she's pushing the envelope, she gets paid more,
she takes her work even more seriously. When she's paid
(19:47):
more for it, she does even better work, and then
she raises her rates again and it creates this incredible
feedback loop of success.
Speaker 1 (19:55):
Wow, that's very interesting because sometimes people think, you know,
keep and their price is love is going to somehow
magically make people want to buy what you have. But
that's not so true, you know, because what we look
at is just like a lot of free stoff. This
(20:16):
is free. People don't take it so seriously. No, they
gotta have enough skin in the game, I always say.
And if it's not enough skin in the game, then
they don't value it.
Speaker 4 (20:30):
Yeah, And here's the follow up to that is she's
had plenty of deals that she hasn't won because she's
too expensive for these companies to work for her. But
sure enough they come back around when they've got more money.
They're thinking about her, they're wanting to work with her,
and they're like, well, we can't do it right now,
but when they can they come back.
Speaker 1 (20:52):
Yes, what because she's probably bringing value, you know, that's
one of the things that's important. Value.
Speaker 4 (21:03):
Yeah, you're you're on it, Like, what kind of value
are you creating in your customers' lives and in their
in their businesses?
Speaker 2 (21:13):
Mm hmm.
Speaker 1 (21:14):
Absolutely, wow, this is so nice song, Lisa. I'm loving this.
But a winning business plan? How do we craft a
winning business plan? Because we all know that business plan
is not in stone. I always call it a a
(21:35):
living document.
Speaker 2 (21:38):
Mm hmm.
Speaker 1 (21:40):
So help us craft a winning business plan? What are
the ingredients?
Speaker 4 (21:45):
The ingredients? Well, one that comes to mind, and I'm
sure you you help people with this, but it's like,
don't do it alone, like you're very very close to it.
You want to make sure you've got insight and input
it from other people. And the closer they understand what
it is you're doing, the better. Not so close that
(22:08):
they're biased, but that they can give you really good feedback.
So I think this is where coaches and assistants and
services help you. But what do you want to pay
attention to? I think it's important to decide early on
how much money, whether you're wherever you're at, like how
much money am I going to put in? And how
much money do I want to get out? And how
(22:30):
am I going to actually get there? Because I see
I've been coaching businesses for over ten years now, and
I can't tell you how many times the businesses who
struggle are the ones who don't have a clear pathway
of how they're going to get the money coming in marketing,
(22:52):
sales sale skills, marketing skills, like nobody's going to care
about your business as much as you do. I think
that it's good that you have a solid understanding of
how to be a rain maker in your business and
not just think that you're going to outsource all of
that to other people, especially early on. What do you
(23:14):
think about that?
Speaker 1 (23:15):
I think the same thing you know. I mean, when
when you first getting started, you wear a lot of hats,
You wear pretty much all of hats depending on where
you are. But what that does is educates you, you know,
in terms of all of the intricate pieces that it
takes to run a business. You know, and then how
(23:38):
long it takes you know, because once you develop the skill,
you start timing, well, how long does it take me
to create a campaign? How long does it help take
me to put something out on the internet. You know,
you know all of the ins and outs, so when
you do give it off to somebody else to do,
(24:00):
you will know if they're doing it right.
Speaker 4 (24:04):
Yeah. Yeah. The other thing that this is bringing up
for me is the importance of really being fully cognizant
of what's going on in the user experience for your clients.
Whether you're a multi international company or you're a small business,
(24:27):
it's the same for all of us. We need to
understand what's happening at that user level, what's important to them,
how are they engaging with it, what's a positive outcome,
what are their expectations, When do they get disappointed in
what you're doing, and when do they feel like you've
hit the ball out of the park. And as far
(24:49):
as value creation, like you really, I don't think small
businesses spend enough time inside of those sorts of conversations
with their ideal audience.
Speaker 1 (24:59):
Yeah. Then, and they'll tell you. You just have to listen.
They will tell you, you know, because I mean, I know
in my experience, you know, I pay attention to what
people say, you know, because that gives me what I
need to make the changes, because we're always going to
be changing because at the end of the day, the customer,
(25:23):
the client, they're the main person in the game other
than you. Yeah, but so good for sure. Well, Lisa,
if people want to reach out to you. How did
they do so I did?
Speaker 4 (25:41):
They can email me at l Peterson at wealth Clinic
dot com. We talked about the Money catalystbook dot com
site and just entering zero one if you want to
get those freebies, and you could also go to wealth
Clinic dot com forward slash vision and you'll get the
first chapter of The Mindful Millionaire and the Money Catalyst
(26:03):
and meditations that I've created that help people improve their
relationship with money.
Speaker 1 (26:09):
Okay, alrighty, now, so the secrets to closing sales and
like you mentioned earlier, some people are afraid of for
the money, So let's talk a little bit about that
because you know, especially new people, they they feel like
(26:30):
they're unsure, you know, they unsure of the pricing structure
for their product. So how do you get around that feeling?
Speaker 2 (26:43):
Yeah?
Speaker 4 (26:44):
Yeah, I have never believed in like convincing someone to buy,
So I feel like when I'm in a sales conversation
with someone, my most important job is to make sure
that what it is that they're looking for is well
(27:06):
aligned with what I am offering. Then it becomes a
conversation about why is this important? When do you need
this outcome. What is this going to look like for you?
Am I the right fit? Because I feel like money.
I never want to lead those conversations with the money. However,
(27:28):
when the clear fit has been established, people are like, Okay,
what's this going to cost?
Speaker 2 (27:35):
Me?
Speaker 4 (27:36):
Like, you've already decided and as long as the money fits,
then it's the right decision. If it doesn't fit, then
maybe you have to negotiate or figure out something else.
But I feel like we put too much emphasis on
the money and not enough on is this the right
fit for the two of us to work together? Because
(27:57):
once that's been established, then the money is just a detail.
It's only a tool that allows the exchange. It's not
going to be the thing to either of us that
we want the whole transaction to be about.
Speaker 1 (28:12):
Right, I agree with you wholeheartedly. Because there's somebody coming
to me and they start talking you need to get
this blah blah blah blah blah. I'm like, shut down
immediately because I don't like the way you're coming at me.
Speaker 4 (28:28):
Yeah, when people jump too fast into selling you something
I don't know about you, But like I'm just like, oh,
what just happened in this conversation. Like, I thought we
were connecting. I thought you liked me. I thought there
was a real cool thing happening here, and now you
showed me it's all about the money. It's all about
(28:50):
you getting the business from me. And I don't know,
I think people are too sad, They're way too savvy
for that kind of treatment these days.
Speaker 1 (28:58):
Oh yeah, you absolutely right, for sure, You're absolutely right.
You have to, you know, make it comfortable, get to
know that person, ask questions. It's like coaching, you know,
when you meet somebody for the first time, you need
to find out where they are.
Speaker 4 (29:17):
Yep.
Speaker 1 (29:19):
And they need to know that you care first. That's
saying I'm telling you, that's saying is so true. People
need to know that you care.
Speaker 4 (29:29):
Yeah, truly, because if you feel like you're just going
to be a transaction for somebody, like, that's not a
healthy relationship.
Speaker 1 (29:38):
It's not. It absolutely is not. Wow. Wow, this has
been amazing, Lisa, and you have brought it today. And
I always like talking to people that work from the
inside out anyway, because everything happens from the inside out
period everything.
Speaker 4 (29:59):
Yeah. Yeah, can I just like talk about you for
a second, would that be okay? Before. Okay, So I
love your spunk and spirit and like you're so organized
and you're so uplifting. Like even before we got on
(30:19):
the call, you already had given me a like feeling
of who you are and your smile and your presence,
and I just I wanted to say that publicly because
not I've done hundreds and hundreds and hundreds of these
and I can just feel you and how much you
care about your listeners and your audience.
Speaker 1 (30:39):
Wow, thank you so much, Lisa. I really do care
about you.
Speaker 4 (30:44):
Know.
Speaker 1 (30:44):
I want the experience to be comfortable for you, and
I want my listeners to take something away that they
can use, because in my world, it's all about being
better than you were yesterday. I feel that thank you
(31:04):
make me cry.
Speaker 2 (31:07):
I mean too, I love it.
Speaker 4 (31:09):
I love like minded souls when we can cross tabs.
Speaker 1 (31:12):
Yes, yes, indeed, Well I really appreciate you. And again,
if people want to connect, how did they do so?
Speaker 4 (31:21):
Yeah, they can go to Money catalystbook dot com check
out the new book, and or send me an email.
I'm always here for you, alrighty.
Speaker 1 (31:30):
Thank you so much, Lisa, and audience, thank you too
for stopping by. We appreciate you Thank you to our
guests and you our values audience.
Speaker 2 (31:45):
Let's stop you by.
Speaker 1 (31:46):
We truly appreciate you.
Speaker 2 (31:49):
Many blessings to you and yours.