Denise Duffield-Thomas's Blog, page 19
August 9, 2023
Money lessons from New York 🗽
Money lessons from New York
// <![CDATA[
// ]]>
I recently got home from an AMAZING trip to New York, and I was surprised by how many money lessons I picked up!
This was an unusual trip because, at least initially, it wasn't work-related. It felt hard to let myself relax and do something purely for fun.
As you may know, I love musicals and Broadway (and have invested in a few), so I went to NY for BroadwayCon.
The Ruler in me did add two VIP days to pay for the trip, but it was honestly such a chilled, and inspiring trip.
So the first lesson straight away was that it's okay for me to do things just for me and just for joy - this is definitely something I want to lean into next year.
When did you last do something just for the fun of it?
Listen to this podcast episode for more on:
Why we feel the need to justify doing anything non-work related
Marketing lessons from business class travel that you can apply
Ideas for charging more for convenience or speed
How to maximize your investment in a photo shoot
Letting yourself be worthy of receiving support
I absolutely loved geeking out at the convention, and it really sparked my creativity - I'm excited to go again next year.
I can't wait to hear which lessons from today stand out. Please hit reply or message me on social media.
You don't need to go to New York to follow your dreams, you can make it anywhere, and it's up to you! Enjoy…
xx Denise
August 2, 2023
The hardest thing about my business
The hardest thing about my business
// <![CDATA[
// ]]>
I don’t want to be a “Debbie Downer,” but I’m going to be real with you.
Being in business, particularly working with your significant other, is not always sunshine and rainbows.
Today’s podcast episode isn’t a pity party, but I’m giving you an honest look at some of the things I find hardest in my business.
Scroll through Instagram, and it’s easy to think that everyone’s got it all together, me included, so today, I’m getting vulnerable and sharing some of the negative side of being an entrepreneur.
Listen to this new podcast episode to learn:
How I struggle with being put on a pedestal as a public person
How to handle the weight of being responsible for a lot of people
My imposter syndrome and fears of making mistakes
What I’ve learned about boundaries and saying no
Why working with my husband has been really challenging
The downside of being a perfectionist and wanting things done in a certain way
What are you finding hard in business right now? Do any of my challenges resonate?
Being in business is not always going to be easy, but that’s the good thing about having your own business - you can choose how you want to run it and build it around your life.
You can love your business but not like it every day.
We can do hard things.
xx Denise
July 26, 2023
Talking money with my kids
Talking money with my kids
// <![CDATA[
// ]]>
For today’s podcast, I’ve got something a little different for you and it’s so fun!
And this took some expert editing because recording this ep was a little manic!
This episode is a family affair - I’ve got four special guests; my hubby Mark and our three gorgeous kids.
Listen to this chat with our family to learn:
How we talk about money
Our kids' ideas about money and future careers
What our kids think we both do in our business
How we use tapping to release fears or emotions
And so much more!
I hope you enjoy this insight into our hilarious family! Sometimes you’ve got to just go with the flow. Maybe we’ll do some more episodes together next year when we’re traveling.
Let me know your favorite parts and any questions you have about talking money with your kids.
xx Denise & Mark
P.S. If this episode sparked some ideas, you should also checkout episode #67: Raising Kids With A Healthy Attitude To Money, click here to listen now.
July 19, 2023
The real costs in my $5m business
The real costs in my $5m business
// <![CDATA[
// ]]>
SO JUICY! Ever wondered what it costs to run a multi-million dollar business?
In today's podcast, I take you behind the scenes and share the real costs from my company.
Some people are scared to scale their business because they're worried about their costs escalating, so I'm sharing this so you can acclimatize to hearing big numbers and not get freaked out by them.
I also value transparency and have learned so much in the past from other people sharing their numbers. Many people talk about income numbers but only sometimes costs or margins, so I'm lifting the lid.
Your business doesn't have to be anything like mine, you'll make your own decisions and plans based on your stage of business and money personality, but it's always fascinating to see behind the scenes.
Listen to this episode to learn:
Where our $5m of income comes from
How much I make per year from my books and speaking gigs
Our profit margin for 2022 and our biggest expenses
What Mark and I pay ourselves and the tax man
How much I donate and the causes I support
The great thing is that there are very few barriers to entry in online business today, and most of these costs are deliberate and a result of growing or wanting to grow.
You can set up your business at any income level to focus on profit and lifestyle.
So much fun!
xx Denise
P.S. One of the biggest things that has helped me grow our revenue from course sales over the last five years has been learning to launch using Jeff Walker’s Product Launch Formula.
Jeff is our launch mentor and next month he will be running a free Live Launch Masterclass to share his launch blueprint - the one I use for every promotion in my business.
Click here to join the PLF waitlist for early access to learn from the master in Jeff’s free training.
I’ll be sharing more about launching and working with Jeff soon.
July 12, 2023
How to acclimatize to higher revenue
How to acclimatize to higher revenue
// <![CDATA[
// ]]>
If you’re stuck at a plateau or want to move to the next income level, it starts with exploring your unconscious beliefs about why you can’t earn more.
Are there unwritten rules about what you are and aren’t allowed to earn? Maybe there are unconscious limits from your parents, industry, or mentors.
In today’s podcast episode, I discuss how to acclimate to higher revenue and the steps you can take to be open to expanding beyond what you thought was possible.
Because the acclimatization process is different for everyone and each stage of business.
I want you to feel confident in setting your prices and earning more. So you’re grounded in your business and wealth so that you can create your version of a First Class life.
The lesson for me has been about acclimatizing to more income and the extra expenses that come with that. While making sure I’m not sabotaging myself by growing my costs - I’ve had to learn to design my business for higher profit and plan for taxes.
In this episode, you’ll learn:
Both practical and mindset tips to get used to earning more
How masterminds can help normalize the big numbers and challenges that come with growth
How to prepare for more taxes and legal stuff that comes with higher revenue
The symbolic actions you can take to make higher revenue feel natural, like paying yourself a regular salary
How to incrementally upgrade your life and standards before the income arrives
When you combine your work ethic with this mindset work, higher revenue, and higher profit are possible - I’ve seen it with hundreds of my students, so why not you?
It’s your time, and you’re ready for the next step.
xx Denise
July 5, 2023
Ask Me Anything: Goal setting, dreaming, hiring and more
Ask Me Anything: Goal setting, dreaming, hiring and more
// <![CDATA[
// ]]>
I remember the days when I was starting out on my entrepreneurial journey, immersing myself in personal development and money mindset.
I could see the potential for success everywhere, but my partner Mark wasn't quite on the same page.
It was as if we were speaking different languages when it came to money and business, and I couldn't help but feel frustrated.
But then I had an epiphany.
I soon realized that I was the one surrounded by examples of success and wealth, while he was blissfully unaware.
I was the one seeing what was possible, and I was the one holding the vision for my business and our family.
So, I decided to take matters into my own hands and started sharing my experiences with him, showing him success stories, and gently correcting his money language. And, to my surprise, he slowly started to shift his mindset.
I realized that getting your partner interested in your business doesn't have to be a battle; it can be a journey of growth and understanding for both of you.
If you're currently living the single life, how do you make sure that when you meet that special someone, they have a good money mindset, too?
This week's episode of Chill & Prosper is an Ask Me Anything, and in addition to talking about getting your partner or potential partner on board, I also dive deep into how you can:
Discover powerful techniques to manifest and chase after your biggest dreams.
Learn strategies to conquer self-doubt and eliminate limiting beliefs.
Uncover the secrets to improving productivity through delegation and automation.
Find out how writing a book can be fulfilling and advantageous for your business.
And please hit reply and let me know what advice you needed to hear this week and what you're manifesting for the second half of the year.
xx Denise
June 28, 2023
What I’d do if I had to start again from scratch
What I'd do if I had to start again from scratch
// <![CDATA[
// ]]>
I can't believe how far I've come since those early days when I decided to dive headfirst into entrepreneurship.
It feels like a lifetime ago when I was fumbling through writing my first ebook, teaching myself how to build webpages, and trying to navigate the ever-changing online landscape.
But there's something magical about being a newbie, filled with boundless energy and the willingness to adapt and experiment.
Today I'm answering a question I get asked all the time - what if I had to start again from scratch?
What would I focus on? What lessons have I learned along the way that I would apply to starting again?
Keep it simple
When starting a business from scratch, it's essential to focus on one platform at a time. Resist the urge to spread yourself too thin, and instead, give each platform the time and attention it deserves.
Remember, building a successful foundation takes time, so don't rush the process.
Connect with your audience.
Fostering long-term relationships with your audience is crucial for success. Always prioritize meaningful content and genuine connection over gimmicks or short-term gains.
When you genuinely care about your audience and their needs, you'll naturally build trust and credibility.
Find the opportunities in underserved niches.
In entrepreneurship, nothing is more satisfying than stumbling upon a hidden gem - an underserved market niche just waiting to be tapped.
When starting from scratch, focus on finding those unique opportunities where you can make a real difference (and some real money).
Stay consistent
Consistency is key when it comes to marketing your business. Keep showing up, sharing your message, and engaging with your audience. The more consistent you are, the more likely you are to see the growth and success you've been dreaming of.
I never imagined how much the world of entrepreneurship would evolve when I started.
If I had to start from scratch today, I'd do things differently for sure, but one thing remains the same: the journey will always be unpredictable and full of surprises.
The best part about being new is that you can be nimble. You can jump on new technology or ideas to design a business that truly works for you. So enjoy the ride!
Listen to today's podcast episode to learn:
What I'd do today to get started from square one
The importance of focusing on the core principles that drive business success
To explore untapped niches to find the best opportunities for you
How consistent marketing will propel your business forward
The ins and outs of making money early on and how to focus on income-producing activities
When you're starting out, it can be easy to get pulled off course or have your confidence knocked - it can be lonely.
That's why surrounding yourself with the right people is so important - positive, abundance-minded, supportive people with similar dreams.
It wasn't until I found groups of other entrepreneurs that I could start to see what was possible or build my vision for my dream life.
So if this is you right now, whatever stage of business you're at, you need to see it to believe it. You need to surround yourself with people like you, talking normally about business, money, and goals.
If that sounds like what you need and you'd benefit from extra support and community right now, then check our Money Bootcamp mid-year offer.
I'd love to know what made the most sense for you in this episode. Hit reply and let me know what stands out and what you're working on right now, especially if you're starting from scratch.
It's your time and you're ready for the next step.
xx Denise
June 21, 2023
How to deal with imposter syndrome and stop feeling like a fraud
How to deal with imposter syndrome and stop feeling like a fraud
// <![CDATA[
// ]]>
I’ve never met someone who doesn’t feel like a fraud or imposter, at least some of the time.
Myself included.
But the thing about imposter syndrome, especially in business, is that it feels so lonely. It feels real, and we often tell ourselves that no one else feels this way.
So on today’s podcast, I’m sharing some times when I’ve felt like a fraud and my tips for overcoming imposter syndrome.
Some people think this imposter feeling and fear goes away when you make more money, but honestly, it’s not the case.
Early in my journey, I asked one of my early mentors, the amazing Ali Brown;
“When does the fear go away?”
Over the last decade, I’ve been asked the same question many times, and I always refer back to Ali’s original life-changing wisdom.
NEVER. Ali taught me there’s never a time or an income level when the fear goes away.
You’ll still get scared, you’ll still feel not ready, and you’ll always have doubts.
So you can go into business knowing that it will be scary.
But you’re going to figure it out. It is possible, and it will be worth it.
So like the late Susan Jeffers said, you’ve got to feel the fear and do it anyway.
Listen to today’s podcast episode for my tips on:
Dealing with feeling like a fraud
Showing up on social media when you’re filled with self-doubt
My “Be a contributor, not a guru” approach to teaching what you know
How to drop perfectionism and give yourself credit
How processes and scheduling can help you avoid “chickening out”
And remember, what scares you today, won’t scare you tomorrow.
It’s your time, and you’re ready for the next step.
xx Denise
P.S. Time for an honest assessment to reset your mindset and goals for 2023?
Next week I’m running a special “RESET” training with my Money Bootcamp course members.
We’re halfway through the year, and this is an ideal opportunity to hit RESET on your money goals and mindset.
We’ll release last year’s results and taxes and dream big for the next six months - with the right support and mentoring, it’s still possible to make this a great money year for your business.
If you still have big goals and want to be part of our community, I invite you to work with me as your money mindset mentor and immerse yourself in money mindset transformation.
You can join us in Bootcamp and on this special RESET training by taking advantage of our special Mid-Year Special Offer.
Join now to spread your enrollment cost over the next year with an affordable 12-month payment option. I only offer this a few times a year - your first payment this month is only $239 USD.
You’ll get instant access to our community, the complete Money Bootcamp training program, a member-only podcast, monthly coaching calls with me, and hundreds of dollars of bonus support and training.
Click here for all of the details and to grab your Mid-Year special offer.
“Bootcamp helped me pay $50,000 in back taxes and get rid of my credit cards." Karyn Parkinson, eCommerce Marketing Mentor, Australia
"Bootcamp taught me I don’t have to undercharge for my level of service. I have a lot of skills and knowledge to share and I can still do that while abiding by a strict code of ethics." Kumari Valentine, Clinical Psychologist, New Zealand
June 14, 2023
Do I really need a business plan?
Do I really need a business plan?
// <![CDATA[
// ]]>
Hi there,
Having a business plan is one of those important prerequisites for starting a business that they teach in business school - Right?
But do you really need one? What's the best way to do a business plan? Is there a Chill and Prosper way?
As someone who was never really good at assignments, writing a business plan always felt like boring homework. Plus, my ADHD and procrastination meant I never got around to it.
Maybe you're like me and don't want to take the time to plan because you're too busy taking action.
Please don't procrastinate starting your business because you're waiting for the perfect plan.
It's totally fine not to have a business plan, but you do need to have a rough idea of where you're going, so I've got some alternatives for you.
Listen to today's podcast to learn:
The best kids' advice I got from my mum and how it applies to business
A simple approach to finding your niche and getting started
My recommendations for planning if you're starting out
Simple goals you can set to help you focus
How your money blocks will pop up to try and derail your planning process
How I plan my business with daily, weekly, and monthly tasks.
No form of plan is going to prepare you for everything that's going to come up on your business journey. Sometimes you won't know what you need or don't like until you're in it.
If you have a plan or are a few years into business, it's okay to shift and change.
Having a business plan doesn't mean you're in business. Making money means you're in business, and I promise you can make money with or without a business plan!
Enjoy today's episode.
xx Denise
P.S. If you want some help with your plans and goals for the second half of the year, then I've got a special freebie for you to check out.
Click here to download my mid-year workbook.
This free guide will help you reset your mindset and goals and supercharge your next six months.
This time of the year is such an amazing opportunity to take stock and reflect on your progress over the last few months.
This is especially important if, like me, you're approaching the end of the financial year and you've got some blocks coming up about your goals or paying taxes.
So download your reset workbook today to help you:
Feel more empowered and positive about still hitting your goals
Celebrate and reflect on your business performance from the last 6 months
Forgive and release any missed opportunities or mistakes
Set new inspiring targets for the rest of the year
Plus, there's an opportunity to work with me as your money mindset mentor and coach with my Mid-Year special offer.
I know time is flying by, and reviewing the numbers in your business can feel scary – so I'm here to help you get clear and make your money goals happen.
The link to share this free workbook is denisedt.com/reset
What money personalities you need on your money team and who to hire
For a long time, I was scared to hire “numbers” people in my business - I was intimidated by the idea of building a money team around me, like accountants, bookkeepers, or financial advisors because I felt like I would be tested or they’d realize I wasn’t good at maths.
But being bad with numbers doesn’t have to mean being bad with money - this is a skill you can outsource.
You deserve to be surrounded by people who believe in your dreams and who see the next step for you.
Hiring people working in their zone of genius who are invested in the success of your business can bring accountability and help you go to the next level.
Are you ready to build a money team that will help you grow and protect your money?
Do you feel overwhelmed by the idea of building a money team? Wondering if the team you already have is the best for you and your business?
In this article I take you through who to hire, how to make the best choice and why you need different money personalities on your money team. Ready to make the best money team for you and your business?
You can also listen to my podcast episode on this topic here:
// <![CDATA[
// ]]>
Let’s start by looking at your own money personality type. If you haven’t already, make sure you have done my quiz to see what your top money archetypes are - https://www.denisedt.com/quiz
Once you have a better understanding of how you see, feel about and use money you will be able to find the right team to support you and your business to make the money you want and deserve!
Here’s my top 5 tips for creating the best money team for you and your business;
To start your business and begin to build your money team, the first step is to hire a bookkeeper. This can be a daunting process, especially if you don't feel comfortable with math or numbers.
It probably won’t surprise you that Accumulators make excellent bookkeepers but if you are an Accumulator looking to hire a bookkeeper you might find it difficult to decide which person will be right for you. You may also feel intimidated hiring someone who has the same money personality as you or feel uncomfortable or guilty – especially if you feel like you can do it yourself. I see this all the time. It’s great that you can do your own bookkeeping but it might even be better if someone else can do it for you. Imagine how much space that can free up for you! You might like to look for bookkeepers who also have the Ruler archetype as they will get the work done and make bold decisions for you.
If you are not an Accumulator or Ruler you might feel nervous about outsourcing your bookkeeping. I have the Romantic archetype in my top three and when I hired my first bookkeeper, I was terrified that they would see my mess, but having someone else invested in the success of my business made a huge difference.
“When I hired my first bookkeeper, I was terrified that they would see my mess, but having someone else invested in the success of my business made a huge difference.”
I highly recommend that you hire someone whose zone of genius is ‘all things bookkeeping’, so you don't have to worry about cleaning up your receipts or calculating anything. They will be able to help you create structures to increase your income, as well as keep an eye on your money and ensure you aren't surprised by any tax bills.
There are many different types of bookkeepers out there, so it's important to find one that is a good fit for your business. If you're on a tight budget, look for someone who charges per transaction rather than an hourly rate. Make sure to communicate your goals and expectations to your bookkeeper to ensure that you are both on the same page. It's also important to find someone who is excited about your business and can provide you with helpful advice.
The second step in building a money team is to hire a personal assistant. Personal assistants can be instrumental in helping to manage your time and reducing stress. They can handle tasks such as managing emails, customer service inquiries, and other administrative tasks. It’s important to find someone who is a good fit for your business, as well as someone who is reliable and trustworthy.
Before hiring a personal assistant, it’s important to consider their experience, skillset, and availability. It’s also important to ensure that you are clear about the role you’re hiring them for, as well as their responsibilities and expectations. Rulers may find it difficult to hire a personal assistant as they strongly believe that they can and should do everything in their business themselves – but that is really not true! Free up your Ruler energy to focus on the direction of your business rather than keeping yourself busy with the day-to-day tasks.
Considering the money archetype of your personal assistant is super important. You might like to hire someone to amplify your own archetypes or to compliment or leverage skills you don’t have. For example; if you are an Alchemist, Celebrity, Maverick or Romantic you may like to have someone who is disciplined and can make decisions that support you and your business without your input so you can focus on what you are (or not) doing. For Nurturers and Connectors, you might like to have someone who shares the same values as you and is focused on your clients and customers but can also ensure that the work that needs to be completed is getting done.
The third step in building a money team is to meet with your accountant quarterly. This is to ensure that you are staying on top of your finances and not being surprised by any liabilities or taxes. It's important to find an accountant that understands your values and works with your money personality. You may not need to meet with them monthly, but quarterly is a good starting point. It's also important to be open with your accountant about any financial goals you have, even if they don't make sense from a financial perspective.
Scheduling this quarterly meeting is really important for money personalities that prefer to ignore their financial position. Nurturers, Connectors and Alchemists often prefer to avoid all conversations about their finances so having a regular meeting means you no longer can ‘stick your head in the sand’. If you know that you are afraid of having these conversations, find someone who also has nurturing and connecting qualities so you feel comfortable speaking with them.
“Nurturers, Connectors and Alchemists often prefer to avoid all conversations about their finances so having a regular meeting means you no longer can ‘stick your head in the sand’.”
Quarterly meetings can be used as great motivators for Mavericks, Ruler, Accumulators and Celebrities as they know they will be able to discuss what is working for them and how to make more money.
Lastly, invest in a financial advisor. This is a great way to ensure you are managing your money in the most efficient and effective manner. A financial advisor can help you make sound decisions about your investments, retirement plans, and other financial goals. They can also provide guidance on how to use your money wisely, such as paying off debt, setting up an emergency fund, and saving for retirement.
When selecting a financial advisor, it is important to find someone who is qualified to provide advice and has a good reputation. You should also consider their fees, as well as the services they offer, ask questions to ensure they are familiar with your goals and objectives and make sure to look over any proposed contracts before agreeing to anything. It is also a good idea to speak with a few advisors to compare and contrast their services.
Communicating your financial goals to your financial advisor is an important step in creating the money you want and deserve. Make sure you are very clear with your advisor about what kind of financial goals you have in mind and what kind of strategies you want to pursue. This can include talking about things like paying off your mortgage, investing in the stock market, or investing in other assets. It is important to be upfront about any challenges you may have with math or understanding financial concepts, so that your advisor can help you find the best solutions for your financial situation.
It is also helpful to discuss your values and how they factor into your financial decisions. This will help your advisor understand how you want to approach your finances and make sure they are creating a strategy that aligns with your goals.
Having a financial advisor on your money team can be really helpful if you are not able to visualize your money goals and financial future. Nurturers, Connectors and Romantics find it really supportive to have someone that understands that speaking about these types of things can overwhelm them and Mavericks need someone to keep them entertained or go straight to the point because they are quick to get bored.
Building a money team can be intimidating, but it doesn't have to be. Taking the time to find and hire the right bookkeeper, personal assistant, and financial advisor can make a huge difference in the success of your business. Don't let fear or lack of knowledge hold you back - you can create your own money team and achieve your financial dreams! With the right guidance, you can take control of your finances and start creating your own wealth today.
I’d love to hear how you go with building your own money team! Send me a message on how it went for you or drop any questions you want me to answer.
