How to be an Entrepreneur and not be BROKE

Are you doomed to be broke? 

Since becoming self-employed in April, despite all the vigorous coaching training and certifications, even after all the immersive personal and spiritual development I’ve invested in, I share the biggest fear of most coaches and entrepreneurs I’ve coached: “Time is up, I need to get a job“.

So when an opportunity to host Entrepreneur Night in Minneapolis came up, I took it on without hesitation. My intention for myself and my community was to create opportunities, raise awareness and break free from fear, lack and separation.

It is now my intention in this blog to capture some highlights of the event, as well as share my own insights and breakthroughs in hopes that it will open your heart and mind and inspire you to keep going and fulfill what you came here to do.

Key #1 An abundance in gratitude equals an abundance in life.

I start my day with gratitude.  And I am grateful to Joe White, who broke his rule for me of only flying west and south of Delaware, and Christine Sherbert of Powerteam International. What an amazing, dynamic team! Thanks for bringing your gifts and passion all the way to Minneapolis!!!

And to our kick-ass VIP panelists: Kim Julen of Findingyourfiji.com, Alissa Sunshine Coomer of Sunshine Fitness Centers and Ken Keacher of Strategiesbook.org. Thanks for the personal support, big hearts and willingness to inspire the community. You rocked my world.

Special thanks to Laura Strong, President of the Holistic Chamber of Commerce for the beautiful space, for thinking of everything and covering all the bases. You are amazing! Minneapolis folks, if you need a venue for your next event, check out The Metamorphosis Center.

And to everyone who made it and attended the event – THANK YOU! – for making it a fun and successful event. Your time and energy and your enthusiastic feedback made it all worthwhile. Thank you.

Key #2: Where there is no vision, people perish.

“What you need is a vision… a vision so strong it pulls you to achieve your dreams” – Bill Walsh, Powerteam International. (For a powerful visioning exercise, click here.) 

And my goodness, is my vision insanely big and ambitious!

Setting up Entrepreneur Night was like my firewalk, my personal breakthrough to fully step into leadership role. My default programming is to work solo so teaming up, networking and expanding my reach are huge breakthroughs! Yey me.

Key #3: Dump the scarcity mindset. Raise your abundance thermostat.

One of the expert panelists last night shared her story about having a “welfare mindset“. I call mine “single mom mentality” which I blogged about on “I will Survive“. Both are examples of a very limiting and non-supportive mindset especially to aspiring entrepreneurs. 

Do you ever wonder why lottery winners go broke again in 2 years? How about Donald Trump. Why is it he could bounce back, regain and even exceed the billions he lost? Check out rags to riches and together with me, step out of your comfort zone and join the 2% mindset club!

Key #4: Show those gremlins who’s boss!

My gremlins got activated while sending invites via emails and social media. It was saying all sorts of things like I was annoying, people are not interested, I’m crazy. Ya Ya Ya. No matter what your gremlins are thinking, say thank you and follow your heart anyway

Photo by Lukas from Pexels

I bought a selfie stick for my trip to Europe in lieu of bringing a tripod and boy oh boy did it come with gremlins to aggravate my already self-conscious self. My husband and kids teased me which .didn’t make it any easier. I promise. No one will get hurt during my travels in the name of a selfie.

Key #5 Stretch beyond your comfort zone

And Just when I thought the shaking and stuttering finally stopped when doing videos (see video #1), the selfie stick brought other things to the surface so I can finally release them.Trapped judgment and resistance is debilitating and eat away your power thus creating separation. 

The selfie gremlin cost me 6 days to do a follow up video. The resulting video (see video 2) took me to a whole new level that had me feeling simultaneously naked and victorious, overwhelmed and excited. Gremlin said: “You are not cut out to be a speaker”. To which I added “Yet”.

Key #6: “You are the average of the five people you spend the most time with.” ~ Jim Rohn

Joe White emphasized the importance of choosing friends and cutting off negative people. Not doing so may hinder your energy, vision and ultimate success. Look for like-minded friends who support you in your dream. Your network determines your net worth.

The subject of friends hit a sore spot when none of my so called friends bothered to respond to my invitation. This can easily dissuade someone who is not deeply aligned with their higher vision. Don’t let fear of how other people view you or fear of loneliness discourage you. Keep going.

Key #7: Find your Authentic Voice and be true to it.

Marketing and promotion is particularly where I needed to breakthrough. And I did. One of the biggest lesson was sending out a cookie cutter email from a template I was given. When I read my own email the next day, my skin crawled. It sounded cold, salesy and nothing like me.  

Glad it happened and was quickly reminded that “connection matters more than anything” ~Jesse Koren. Integrity, authenticity and connection are all necessary ingredients to effectively communicate your message. Glad I quickly recovered and changed my approach resulting in record high sign ups. 

Key #8 Own Your Value and Fall In Love with Sales

I used to say I’d rather scrub toilet than sell. That was my old limiting self talk. I just hate being sold to. I hated sales and marketing so much that I went to Business School of Heartselling, Thrive Academy, so I don’t sound like one of ’em pushy, salesy and sleazy salespeople.

i knew that if I didn’t learn to embrace sales and marketing, I’d go broke and where would that leave me and my mission? If you have resistance to a sales pitch, recognize that you may be unknowingly projecting your own resistance to selling thereby repelling sales and clients. 

Key #9 Selling is a service.

When you come from a place of truly owning the value of your gifts, talent and contribution, it’s no longer selling. It’s service. When you can confidently say the value of your product or service is 3x, 5x, 10x more than the investment, you will stop shying away from asking for the sale.

And this is why I jumped at the opportunity to partner with Bill Walsh to host Entrepreneur Night as well as frequently promote Tony Robbins and other mentors because the work they do is phenomenal and transformational. I know the value of what they do because it changed my life.

Key #10 Money is Energy

Tho this didn’t come up at the event, this is an important concept I impress upon my clients.

“Money is evil”, “wanting too much means you are greedy”, “money and spirituality do not mix”, “those who have money scam people”, “you must work hard for your money”, “there is never enough to go around”.  What limiting beliefs keep you broke?

Many misunderstand money. Like everything in life it is just another form of energy exchange. It’s your beliefs that can make or break your financial success. How you view money and the meaning you attach to it is what gets you in trouble and keep you broke. Money itself is neutral. 

Key #11 Don’t fear failure; It’s part of success.

It was at Robert Kiyosaki’s key note speech at Peak Potential Guerrilla Business School that I realized I have been working so hard foolproofing my life, avoiding failure. His words still ring in my ears…. You haven’t failed enough! Cue Tony Robbins: “Hmmmm…. Something to think about!”

So here I am embracing failure. Eeeek. It’s uncomfortable to go against your familiar and automatic programming that you built to protect, prevent and keep you safe.

Robert Kiyosaki also said the world is full of smart, poor people. Ouch. I want to be smart AND rich! And if that statement turns you off, or triggers you, refer back to #10.

Key #12 Be an unstoppable force for good

Depending on where my client is at, I love facilitating an exercise where they can fully experience within themselves and know with absolute certainty and conviction that they are an unstoppable force for good.

It’s never about the money. Again, money is neutral, it has no value except what we attach to it. The value comes from what money helps you achieve. And for me to achieve my mission, I need to generate abundance and that is generated from within. Ask me how. That’s my expertise.

Key #13 Be Accountable, Get Coaching and Belong to a Mastermind. 

This is a very important key that was stressed a few times last night. When you get stuck on the proverbial entrepreneurial hamster wheel, GET HELP!

Entrepreneurship can be very isolating at times and it’s hard to find like minded individuals. Create a network of entrepreneurs who you can trust, feel safe to be vulnerable with, and with whom you can share and access collective experience, knowledge and creativity.

Key #14 Self Love is Key

Push yourself hard but not too hard that you abandon and sabotage yourself. Self abandoning strategies may make you loads of money, but your health, relationships and your spirit will suffer and give you clues you’re still feeling bankrupt, unfulfilled and incomplete deep down inside. 

Richness and abundance is not out there to get and strive for. It’s an inside job. And it’s waiting for you to activate it. You have a unique gift to share to the world. Follow your joy, listen to your desires, do what you love. Only with unconditional self love can you unlock true abundance. 

There you have it! I hope you enjoyed this blog post. I would love to hear your comments and feedback as well. Comment below or email me at tess@openheartmindcoaching.com and feel free to share.

Now I can go on my merry way to start my empty nesting celebration and laptop lifestyle.

Europe and Hawaii… watch out… here comes Tess with her selfie stick 🙂 🙂 🙂

If you are ready to unlock true joy and abundance and would like some support, email me at Tess@tessvergara.com.