Episode 60

full
Published on:

1st Dec 2023

Quit your corporate job and start your business - the smart way!

The Smart Way to Quit Your Corporate Job and Start Your ADHD Business

Welcome to another episode of The Weeniecast, the podcast for ADHD entrepreneurs looking to level up their business strategy.

In this episode, titled "Quit your corporate job and start your business the smart way!", I'm going to share my experiences ditching out of the 9-5 job world and plunging headfirst into entrepreneurship. I'll also share how my clients are doing it!

Hi! I'm Katie McManus, ADHD entrepreneur business strategist and money mindset coach.

The Freedom Overload: Creating Structure and Setting Priorities in Your Business

This episode of "The Weeniecast" is intended to shares valuable insights and strategies for starting a business, whether to quit the corporate job or build it as a side hustle.

I'm discussing the importance of considering financial factors, such as savings, monthly revenue, and health insurance, as well as planning for unexpected expenses.

Plus, I've got some essential advice on giving notice, maintaining a good relationship with your employer, and leveraging your expertise to continue making money from your previous company.

I also want to name that managing fear and anxiety, creating structure, setting boundaries with loved ones, and seeking support through therapy and coaching are super important.

So let's get into it.

I'm hopeful that you'll listen and get started with taking the brave step towards building a successful ADHD entrepreneur journey with confidence and smart strategies.

Your next steps after listening

Wanna get this content earlier, and unbleeped? Listen to the Apple Podcasts premium version of this show - https://weeniecast.com/winners

Book a strategy call with me - weeniecast.com/strategycall

Get more support in your ADHD entrepreneur life by joining my hyperfocus community! - https://weeniecast.com/hyperfocus

Mentioned in this episode:

Katie's May Birthday challenge

Clients can't hire you if they don't know you exist... Which is why it's SO important to post content to Social Media. Consistently. But that's easier said than done... To learn how to post consistently, you have to DO consistently. Which is why I've created the 31 Day Challenge- to hold your feet to the fire so you can create content, post, and finally attract your ideal clients to you, rather than chase them down...

Transcript
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Squirrel. In this episode, I'm going to tell you the smart way you can quit

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your corporate job and start your business when you have ADHD squirrel.

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Hi. I'm Katie McManus. Business strategist and money mindset. Coach. And welcome

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to the Weenie cast. One of the most

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exciting questions that I get as a business coach is how do I quit

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my corporate job to go full time in my business? And

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let me tell you, I have helped a lot of my clients do this. There

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are a lot of things to consider, but it is one of the most

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freeing, satisfying

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and empowered things you're ever going to do. But it does

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have a lot of things that you have to figure out. There are a few

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ways you can do this when you're starting a business. You can either quit your

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job to start your business and have all your time

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available for your business, or you can do

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what I tend to recommend, which is starting your business on the

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side of your nine to five. This does a couple of things. It gives you

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that buffer so you can build up a monthly revenue while you're

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still pulling a salary. All that money that you make from your business

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in that time, you can put into savings, which will give you a runway.

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If you are good with money and you've saved and you've

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planned for this, there is nothing wrong with you quitting your

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job and going full time in your business. It

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really depends on how strong your stomach is

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for risk. If you can handle the not knowing

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when things are really going to pick up, then do

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whatever you want to do. But if you tend to be risk

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averse, if you tend to not thrive

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when the pressure is on, then I highly

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recommend building it as a side hustle.

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Whichever way you decide to go, the first thing you want to consider

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when you're thinking about going full time in your business and quitting your corporate

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job is doing the money math. This is

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figuring out how much runway you have to go with. And

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runway typically means, like, how much money do you have to live off of while

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you're ramping up your business? Are you going to be going off of

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savings? Are you going to borrow money? Do you have enough

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monthly recurring revenue coming from your business already that can

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cover some stuff? One of

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the things that most people are most stressed out about, especially in the United

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States, is what am I going to do about health insurance? Right?

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Because typically when you're employed, that's one of the main reasons people like to be

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employed, is because you get health insurance through your employer. They

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subsidize a good chunk of it so you don't have to pay for the full

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policy yourself, and it's just automatically taken out of your paycheck every

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week. Now, thanks to former President Barack

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Obama getting healthcare insurance on the open market

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is so much easier for Americans now.

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It's also a lot more affordable. A lot of

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employers, when you quit, will give you the option to stay on

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their insurance plan through a program called Cobra. Do your own

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research on this. But I have found that Cobra

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programs are so stupidly expensive.

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I paid for Cobra for a little bit when I first went out on my

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own, and let me tell you, it was $500 more

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expensive than the insurance that I qualified for through covered

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California. So do your research. Figure out what

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you can get on the open market. If you're married and your spouse has

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the option to put the whole family on their

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insurance, that's also an option. That's an option I did not have because when

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I started my business, I was single, single, single. The other thing you want to

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think about after you give notice, because this isn't really something you can ask before

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you give notice is you want to go to HR and you want to ask

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them if you can carry over the disability insurance

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that they have on you when you go full time on your

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own. When I started my business, this is something that I

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thought of after the fact, and I went to a financial advisor to try

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to figure out if this is something that I could sign up for. And they

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told me the hindsight story is that it would have been

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better if I'd thought of this six months before, like after I'd given notice

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and was about to quit, because it's a lot more affordable if you get it

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through an employer. And some policies will allow for you to carry

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on a single policy as you break out on your own. Other

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things you want to think about are, like, what are your retirement

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accounts? How much money do you want to be able to put towards those? What

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are your daily, weekly, monthly expenses, what is

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your absolute baseline for survival, and what will set

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you up for success?

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You also want to plan for the unexpected. I

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highly recommend having an emergency fund

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for things that come up. A flat tire, an unexpected medical

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bill, your child being accepted to some

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premier athletic club where you're going to have to spend

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a stupid amount on fees and travel. That's something that

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I did not have when I started my business. I did not have an emergency

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fund. I ate through my savings. And you know my whole story.

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I got myself into some serious debt in those first few months

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of me being full time on my own, and I don't want that for you.

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Do as I say, not as I do. Once

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you figure out all that math, you're going to have all the information you need

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to be able to create a plan as to when and

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how you're going to go full time in your business. When you're

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thinking about leaving your job. You also want to consider

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what is your notice period going to be, how much notice

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are you going to give this employer? Now, I want you to remember that the

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more notice you give, the better the relationship is going to be long

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term. So if you're able to give them a couple or a few

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months notice so you can really wrap up projects, you're going to

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be on fairly good terms with them going forward. Now, one of the

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things that your employer probably doesn't want to lose is your institutional

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knowledge. So one of the things that you can offer when you

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give notice if you've been involved in certain projects that are

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ongoing, if you've already been mentoring other people

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within the company and helping them climb the ranks, is you can

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offer to continue coaching those individuals

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or working in an advisory capacity on those

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projects. I've had numerous clients like quit

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their jobs and through the quitting process, land

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clients that help them ramp up their initial monthly

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revenue. And it's one of the best feelings ever to be able to quit your

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job, but still kind of be involved and still make money from the company

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that you escaped from while you're starting work on your

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dreams. A few models you can do here is you can do classic

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coaching for any individuals who are going to be taking on responsibilities you

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had or who maybe will be taking over

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projects that you are doing. You can do the consulting model where

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you are involved in a few meetings a week and just

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continuing to put your two cent in on what should happen.

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So coaching is one way that you can continue working for your employer

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after you quit. Another way is to be an advisor, a paid

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advisor. So basically you would be available for the occasional phone call

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and maybe one meeting a week to be able to point people in the

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right direction, answer questions, tell them who

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to turn to for certain problems. You could also continue

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doing some consulting work where you're doing some of the work that your

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previous role required you to do. This is especially possible

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if there's no one else in your company who's qualified to do that or

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who has the capabilities of doing it within their available time.

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Now, you can only do this if you leave on good terms. They're not hiring

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you if you kick over a bunch of chairs, emptied the garbage on the floor,

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and try to burn the building down on the way out. Okay,

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if this has been a miserable job, if you've hated everyone, if it was

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toxic, if you need to just walk out one day, you do, you

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boo. I support you in whatever you feel you need to

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do. But I'm also a big fan of you making money.

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So if at all possible to

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maintain that relationship and continue making money from this company

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while you're working for yourself. I think that is a win win

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situation. Now

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let's talk about managing the fear and the

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anxiety that comes up when you go out on your

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own, right.

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Your nervous system has gotten acclimatized to

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getting a weekly biweekly paycheck. It's on a

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schedule for here's when we get the resources that allow us to get other

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resources that cover our survival needs. When you

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break away from that and you start your own company, that

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cycle goes away and your nervous system really does

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have to recalibrate to whatever schedule

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it is that you're bringing in money. This is particularly hard

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for people with ADHD who tend to be

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impulsive spenders. And especially when

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we are stressed out, we tend to spend to get a little

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dopamine drip. I'm sure you've had that experience of having

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a really rough day and thinking, you know what, I'm just going to swing by

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Target on my way home and buy a little

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knickknack and treat myself and I'm going to feel a whole lot better.

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Now, that's fine when you have consistent income coming in every

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other week from your job. But if you're in the early stages of

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your business and you're not making a lot of money and it's not

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consistent, you want to find other ways

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to manage your anxiety and to give yourself that dopamine drip.

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Because here's what ultimately happens is what used to give

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you that feel good energy when you were full time employed,

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it would give you that little drip of dopamine that would help you turn

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that day around and actually enjoy your evening with whoever you're spending time

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with. When you're full time

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employed and stressed out about money, it'll help for about

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five minutes. You'll walk out of the store with your bag, you'll

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feel good about this silly thing you bought, but five minutes will

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pass and you'll start punishing yourself, thinking, god,

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I'm such an idiot. Why did I spend money on this stupid

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thing that I don't need when I'm not sure when money's coming in

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again? Which, as you know, when we start punishing ourselves

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for something, we tend to get into kind of a downward spiral and

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we start looking at all the things that we're doing wrong. And

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once we start looking at all the things that we're doing wrong, we start spiraling

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even more about how this is never going to work. And we

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all know that for you to have a successful business, one of

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the first steps is you have to actually believe that it's possible. If you

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spend too much time in this downward spiral of, oh my God, this is

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never going to work, you're right. It's never going to work.

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And so these little decisions that you set yourself up for of

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going and doing some emotional spending, you want to be

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very conscious about when you do this because I'm not

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saying you can't do it at all, but you want to

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be very aware of what the consequences

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are going to be. Some things that really helped me when I went full

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time and I really had to figure out how to manage my anxiety

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was meditating, going for walks, talking to

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friends. I started going back to

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therapy when I started my business. I've been in and out of

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therapy as an adult. I think most of us have.

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Sometimes I'll get on the phone with someone who has experienced a lot of trauma,

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either through work or relationships, and

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they are burned out on being part of a system.

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So they want to break away from their corporate job and they think that starting

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a business is going to be that ticket to freedom.

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Unfortunately, if you have any underlying shadow work

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that needs to be addressed, starting a business will bring it all to the surface

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all at once and you will have to address it as you're trying to

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build this. Do the mental and emotional work first. I

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cannot recommend therapy enough for new

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entrepreneurs. You are walking into the unknown. You're

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doing something that you've never done before. There is no guarantee

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that it's going to work. And literally,

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unless you are independently wealthy and you are doing this for fun,

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what hangs in the balance is your ability to survive.

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That's what money represents for us in this world.

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If we don't have money, we can't afford food, we can't afford shelter, we can't

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afford water. All very important things,

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I will say. Also, a big part that got me through that fear

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and that anxiety was working with a coach, working with

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someone who even when I doubted myself and my ability

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to succeed, they believed in me. Someone who could talk

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me off the ledge and point me in a direction, just say,

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hey, go do that. That was a

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massive help for me to manage my fear and my anxiety as I started

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full time. Things you want to be very careful of.

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I know during the pandemic, a lot of people turn to

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wine to manage their anxiety. I remember there was that

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classic TikTok or reel of that man who went for a run through

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his suburban neighborhood and as he's running, he's filming

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all the recycling bins and all the bottles of booze

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and all the empty containers and just saying, yeah, we're all

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freaking out about this. When you're starting a business,

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it's really easy to reach for things that will numb the

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feelings of anxiety and fear. But as we know

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from research and from experience in the world, people with

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ADHD do have a predisposition to addiction. So you want

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to be very careful with that, something that will create a

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little more anxiety and fear for you. And I'm sorry to laugh, but this

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happens for absolutely every one of my clients. ADHD and

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neurotypical is that you are

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going to have what I call kind of freedom overload

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in those first few months of working for yourself. Especially

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if you've worked in a structured nine to five corporate job

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where you showed up. You had to sit at your desk, you had to go

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to the meetings, and you were constantly paying attention to your corporate

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calendar. When you go full time on your own, you're not going to

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be as busy as you were in your nine to five. You're going to have

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a lot to do, but you're not going to be beholden to a very

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specific schedule because you make the schedule and

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I guarantee you in your first two or three months, you will

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miss calls that happens to every single one

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of my clients. They miss a call, either a sales call or a

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client call, because they get out of the habit very quickly of

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checking their calendar. And I say this not to be

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like, don't do this, this is terrible. But to normalize it

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and to tell you you're not alone. If this happens to you,

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it happens to the best of us and it's not going to be the end

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of the world. One of the tricky bits about having ADHD is we oh, what

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am I going to say next? Well, you'll have to keep listening to find out.

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But first squirrel, squirrel, squirrel, squirrel.

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One of the tricky bits about having ADHD is we thrive in

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structure, but we also have a very difficult time creating

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structure for ourselves. So some things that

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will really help you ease yourself into some kind of structure for

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yourself as you go full time is signing up for stuff that will

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create structure for you. So for instance, signing up

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for a daily yoga class that you have to go to,

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committing to doing a boot camp maybe. There

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are regular networking meetings that you can go to

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in your area that help you create a structure around it.

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Things that make you do something that's outside of your

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home that you have to prepare for and you have to plan travel around and

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then you have to come back to your desk. Your inclination when you start this

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business is as soon as you have free time to make all that

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free time available to all of your clients and all your potential

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clients and anyone who wants to talk to you at any point. This

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is going to be one of the biggest mistakes you make in starting your business.

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I don't know a single store that's owned by one person and

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has only one employee that's open for 24 hours a day.

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Because if you're just one person, you're going to have to sleep, you're going to

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have to eat, you're going to have to go to the bathroom at some point.

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You're going to have to be a human. You're going to have to go out

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and have fun with your friends and be with your family. You're going to have

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to have a holiday sometime. When I first started my business. One of the pits

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of chaos that I fell into was making my

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calendar open nine to nine every day, Monday through

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Friday, and having some availability on the weekends. Also. I figured

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this would make me so hyper accessible that people would just sign up for

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anything. This actually just made my life a

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living hell because whenever I'm waiting for

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something to happen, I'm not actually getting done. I'm in waiting mode.

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And so if I had a client call at 10:00 A.m. And then my next

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one at 03:00 P.m., guess what happened between eleven and 03:00

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P.m.? Not a whole lot. I might answer a couple of

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emails. I might respond to people on social media. But I

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wasn't getting into flow. I wasn't able to really get into the bigger projects

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that would have helped me move the needle on my business. So one of

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the things that I really recommend to new business owners is limit the

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times that your clients can book with you. This will help you

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time batch your different activities in your business. You will get

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so much more done than if you make

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yourself super widely available to everyone. This

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also creates that structure for you. If you

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only allow client calls to happen on Tuesdays and Fridays, guess what's

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happening on Tuesdays and Fridays? You're going to be on calls.

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That allows for you to create different systems that you're going to do on Mondays,

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Wednesdays, and Thursdays. On Mondays you create content and that's all

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you do on Mondays that's going to allow for you to really get into

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the flow of that. Maybe on Wednesdays that's when you do your sales

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calls. Maybe that's the only thing that Wednesday is available for.

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And you'll be able to go through sales call and sales call and sales call

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and follow up with everyone with any more information that they need to make a

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decision with you. And then you make the rules here. So maybe you

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take Thursdays off. Like live on the wild side.

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This is your life. This is your business. You set the hours.

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You can do whatever you want. There's this

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incredible amount of guilt that happens when you start

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your business that no one expects. You know that guilt you

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have when a coworker or your boss walks by behind you and

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you've been checking Facebook. That like sinking feeling of,

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oh God, they're going to think I'm not working. Oh my God, they're going to

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think I'm slacking off. It's incredible how you

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will actually feel that immense amount of guilt for being on Facebook

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during the working days of the first six months of you running your business.

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Even if part of your marketing strategy is to post on

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Facebook, you're going to have this

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overhang of all the like, oh, I shouldn't be doing this. Oh,

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I shouldn't be doing this. Oh, I shouldn't be doing this. For that you need

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to be doing for your work because it was something that could have gotten

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you in trouble in your previous job. If

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this happens for you, just want you to know you're not nuts.

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It's normal. It's just something that your nervous system is going to have

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to get over. Because remember, your brain is designed to

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identify danger. When you worked for a corporate company

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and being on Facebook was bad, and if you got caught on it, it could

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get you in trouble. That's a dangerous thing because it could cost you your

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job. So when you start your business, your brain

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doesn't switch over immediately. The danger sensors in your

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brain do not automatically correct for your new environment.

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So you're going to feel anxiety doing stuff on social media when

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you're working in your business. And that's so normal. And I promise you

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you'll get over it. The

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final thing I want to talk about that happens when you break

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away from your full time corporate job and go full time in your

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business is you have to train the people in

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your life to honor your new work

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hours. I

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can't tell you how many times this happened for me and how often this happens

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for my clients that once they go out full time on their own and they

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quote, unquote, have all this free time, their friends and

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family are like, oh, are you free on Tuesday? Because we're

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going wine tasting. Would you like to come with? Oh,

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would you mind babysitting our child on Thursday afternoon?

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Because we have some appointments we have to go to. Oh, I see

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that you are standing around the house not really

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doing anything that's perceivable to me. Would you mind

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doing this and this and this many tasks around the house since you're

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just here not doing anything to your friends and family,

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you will look unemployed. You will

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appear unemployed until you start

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honoring your working hours.

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During the pandemic. When I was locked down with my family, this

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was something that I had to train my parents on because

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I do a lot of work on my cell phone. And I totally get

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how being on your cell phone writing something or

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being on social media looks like you're just fucking around.

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It looks like you're just kind of like texting people and messing

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around and having fun. That was my work.

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And I can't tell you how many times I'd be like mid writing a whole

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marketing post for my business. And my dad would start telling me

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about something really interesting that he saw in the news and he'd start telling

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me his story. And I felt so bad in those moments because I'd have to

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stop him and be like, dad, I'm right in the middle of writing something and

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I have a train of thought and I don't want to lose it. Can you

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hold this for a little while? Can you tell me about this later? Because I

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can't focus on this right now. Because I'm going to forget what I'm trying to

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say here and I'm actually sitting here doing work right

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now. There's also to combine the

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previous point with this point. You'll be sitting at home and on

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social media and you could be on social media taking a break

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from the work. You could be playing a game on your computer, taking a break

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from the work, and your spouse or your child or your

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roommate will walk past and you're going to feel judged by

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them. And they may make a snide comment of, oh, must be

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nice to do that. Must be nice to not have to do work

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all day. If you let those comments get to you,

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you're going to be less productive. Those comments are dopamine

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killers. You

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one of the best things that you can do for yourself as you're building this

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business is to keep your mood positive.

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And some things that keep your mood positive are playing games on

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your phone, watching cute cat videos on YouTube,

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death scrolling on Instagram, or TikTok for funny

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reels. Those things actually do make you

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happier in the moment, which makes you more able to

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learn, which gives you more access to your creativity. Both

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are incredibly important things for you to

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have when you're starting this business. This is going to be something that you

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have to learn so much in so little time with a lot of

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pressure on you. Being able to learn faster is just going to

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help. If watching 20 minutes of cat videos is going

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to help you be happier and learn better, go and watch the cat

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videos. Don't let anyone shame you for that. At its core,

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you just have to get really good at setting boundaries with your loved ones.

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I will also add that starting a business and going full time into it

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and betting on yourself in this way is one of the

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bravest, hardest things you're ever going to do.

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And I know you're smart and I know you're capable and I know you have

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figured out tough things before. This is not

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a test to prove how smart you are, though. This is not a test to

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prove how capable you are of figuring shit out. This is

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starting a business. So if you get up and running

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and if you're struggling to land clients and if you're

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struggling to figure out what to do for your marketing or how to create an

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offer or any part of the business, I want you to recognize

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that you were never taught this in school. They don't teach

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entrepreneurship in elementary school, middle school, high school, or

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college unless you take a very specific

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entrepreneur class, which I have had clients who've

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taken entrepreneurial classes and they said that it was completely

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useless in actually starting a business. You also did not come out of the

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uterus naturally knowing these things. Some things that you

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did come out of the uterus with, knowing how to breathe, knowing to

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blink, knowing to cry when you're hungry.

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Okay? Nowhere in that list is knowing how

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to find a niche, create an offer, market the

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offer, sell the offer, all those things. It's not something

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that you have to expect yourself to know inherently. And

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also, I want to remind you, the only reason I train on this is

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because I had a ten year career in sales and

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marketing. I just so happened to work in

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industries that had business models

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that were very similar could be transferred over into

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service based entrepreneurship. I hit the

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jackpot with all the things that I did that led me up to knowing how

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to do this stuff. If you didn't have that list of

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experiences, it's okay that you don't know what you're

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doing. It's acceptable. It's not proof that you're not smart.

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It's not proof that you're not capable. It's not proof that you can't figure out.

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You absolutely could. But how long do you want to take?

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Figuring it out is the big question. If you're

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independently wealthy and you're doing this for fun and you just really

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love complicated puzzles and putting random

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shit together and just throwing spaghetti on the wall and seeing what works, then

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absolutely take as long as you want. But if you need this business

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to actually make money so you can pay the bills, then you have

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to figure out, what is that figure it out timeline.

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And when is that moment that you're going to have to say, you know what?

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I either need help or I need to give up. And if you hit that

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point, or if you realize you just don't want to waste the time trying to

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figure it out, then I want you to go to the link in the show

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notes and I want you to book a generate income strategy call with

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me, and the link for that is

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Weeniecast.com strategy.

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On this call, we will break down exactly what your big dream is for

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this business. Talk through all the things that you're getting stuck on in building

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it by yourself. And if it's a fit for both of us, we'll talk about

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different ways to work together. And if it's not a fit for both of us,

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I will point you in the direction of some resources that will massively help

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you.

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You one of our neighbors has this massive, like,

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120 pound Irish wolfhound. And Luna doesn't like dogs that are

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bigger than her. She is really vocally mean

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to them. Squirrel. Squirrel,

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squirrel, squirrel. Squirrel.

Show artwork for The Weeniecast: make more money, create an impact

About the Podcast

The Weeniecast: make more money, create an impact
Money mindset and impact coaching for business owners
I help business owners make more money in less time, so they can create bigger impact.
It doesn't matter what it is, we all have a sense of purpose. We want to leave a legacy.
We want to matter. And the best way of doing that, is to become wealthy.
But the sad reality is a lot of us are stuck in 'weenie' mode. In other words, we make up excuses for why we can't become our brilliant, wealthy selves.
That ends with this podcast.

My name is Katie McManus.
As a CPCC (Certified Professional Co-Active Coach) I know how to help people like you to reach their financial goals, and earn the life they've always dreamed of.

Until quite recently, I described myself as a business strategist and money mindset coach who was focusing on helping business owners with ADHD to get more income from their business.
I've been helping some of them get eleven times the value of their investment back.
And then, I had an epiphany.
I was being a weenie.
Being a business strategist is not the limit of my gifts to the world.
I'm also a political activist, a serial entrepreneur who oversees multiple six figure businesses, and I'm the founder of a non-profit with dreams of helping members of the LGBTQ+ community to find more joy from their lives in a very specific way.
And all of that is being achieved by scaling my business in a way that I don't have to be in it every hour of the day, but still make enough money to work hard on making impact.
Do you also want to learn how you can make more money, in less time, so that you can create impact on your community, or with projects that are important to you?

Want coaching on money mindset, sales advice, and general business growth, but all from the safety and comfort of your own space?

If you're wanting to listen to business strategy and money mindset advice that's specifically targeted to business owners like you who want to achieve BIG things but maybe have some challenges, then "The Weeniecast" is the podcast for YOU.

I will help you understand your own potential for growing a dream business that works without you but still makes seriously life-changing amounts of money.

Learn more about the show at weeniecast.com
Learn more about how I help people like you at katiemcmanus.com
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