Letting go of fears and insecurities about money is difficult, but it grants us the freedom to pursue real fulfillment.
Sometimes the truths we need to hear are the hardest to swallow. This is the first lesson Blake Schofield learned on her journey towards a fulfilling career.
When her friend told her that her love of money was holding her back, she was outraged. He didn't understand the pressure she faced to provide for her family, the unhappiness she woke to every day, and the risk inherent in letting go of her secure corporate job.
Blake found herself at a crossroads. She was burned out and frustrated, but had shut her feelings off out of a sense of responsibility - and of fear. What would she do without her steady, 6-figure salary? What might she have to sacrifice in order to pursue her own, more fulfilling business path? It wasn't until she reached her breaking point and thought of her real priorities that she let go of her fears and corrected her money mindset.
“When we live our lives based on money, it controls us, and we will never be happy.” - Blake Schofield (15:00)
While money feels good to us, and often necessary, it can also be our biggest inhibitor. We can find ourselves tied to our salary and the lifestyle it grants us. But at the end of the day, money should enable your dreams, not hold them back.
The first thing Blake did was to take a close look at her expenses and where her money was going. Her comfortable salary meant she hadn't had to think about the little things, but when she really sat down to analyze her spending, she realized how much the little things had added up. She immediately began trimming the fat with a hazy goal in mind: start saving. She didn't set a specific goal, but soon found that having some savings gave her a feeling of ownership and something to get her through the rough days at her job.
The first mistake hopeful entrepreneurs make is believing that they have to have some arbitrary amount of money saved up before they can devote themselves to building their business, but savings will not grant you clarity or meaningful progress.
Are you on the right path? More importantly, are you willing to do the work?
“Until I let go of the pier until I believed and had faith that I could reach the boat, I would never get where I wanted to go.” - Blake Schofield (19:20)
The second mistake many entrepreneurs make is putting down a few planks of a new business and then getting overconfident and taking the leap. After saving up and doing some research, Blake left her corporate job and spent a joyful time hanging with her family and working on her business. Soon enough, she came to see that she was burning through her money and finding a lot of conflicting information, and no one was showing up to buy from her. She needed a mentor but was terrified of making the investment.
When you face the choice to invest in something to help you grow, or keep your money and struggle through, think of the times you've invested in yourself before, and what the return was. Maybe it was a college degree that led you to a career, or a job that taught you a valuable skill. We invest in our future all the time, in stocks and our 401k, not knowing if we'll ever see the profits. If you invest in your business, be sure you're ready to do the work to see results.
Blake believed in her path and invested in a business coach. Now, after working with several groups and coaches, she says she has not regretted a single one, and they gave her the momentum to move her business forward and see her goals of security, fulfillment, and balance come to fruition.
So, what does your path look like? Moving towards the business and the life you want starts when you stop letting money control you and challenge your comfort zone. Invest in yourself when you need to and put yourself around knowledgeable people who see your potential. And don't quit your day job just yet: keeping your finances steady will give you the freedom to work on and invest in your business with less fear that you'll ruin your life in the process. This will allow you to move towards the clarity and the peace that you're seeking.
You are capable of far more than you can imagine. Life doesn’t have to be an either/or. You can have it all and do it without taking a leap or risking what you’ve worked so hard to build!
How to Get Involved:
To listen to the full episode / subscribe to the podcast, you can find it here: Spotify, Google Play Stitcher or Itunes,
If you would like some help to figure out what could be next for you, schedule a free 15 minute discovery call with Blake.
You can get access to valuable resources and training by joining Blake's free facebook group here.