I want to talk to you about how to make more money.
In this episode you will learn:
- That making more money is totally available to you.
- What creates money & how to do it.
- Common mistakes & misconceptions when it comes to making money.
- How I made more money in my job as a teacher and how I applied the same concept to making money in my business.
You can listen to the episode above or read the unedited transcript below.
Meaghan Smith 00:20
Hello, beautiful people. And welcome to another episode of the Money Mindful podcast. This is the second last episode for the year. But before I launch into it, I better just not forget to tell you. Hello, I'm your host Meaghan Jean Smith. I'm a life coach for women who want to create an extraordinary life on purpose. Okay, today, I want to talk to you about how to make more money, but like, how to do it for real, right, actually do it like what creates money? How do we create money. I was working with a client today. And one of the things that she was talking about was that she doesn't feel like she's making much money. And it was all about what this person that she was working for. She was making it all about the person that she was working for. And what most of us do is we think money comes from out there. We think money comes from the person who pays us wrong. Yes, technically, people do put money into our bank accounts. And that's where the money got deposited from that that external source that person, they didn't create the money, you created the money. And this is where so many of us get this whole money thing wrong. We think money comes from this external place. We think that it's not us, like it's not ourselves, that's actually creating it and then we feel disconnected from it. And then we wonder why we feel so powerless when it comes to making more money, but I'm here to tell you that money, we we create money with our brain. Now I don't want to get all fucking woo woo want you but and I, I'm guessing you're probably gonna think it sounds really woowoo when I first tell you. And I really want to encourage you to just stick with me and hear this out. Because this knowledge that I'm going to give you today could change everything for you. It certainly did for me. Now, here's the basic concept you need to get your head around money comes from creating value.
Meaghan Smith 03:12
And the way that we create value comes from our brain. And I'm going to give you lots of examples from my own life, in this episode today to give it to you from different perspective, so you can apply it to your own life. So you can recognise how you are making money now and how you're actually doing that with your brain. So you can make more. I know the first thing you're going to say, Listen, I get paid X amount of dollars an hour or I get paid this salary and that's what it is. It's out of my control. I can't make more money than that. But that's not true. And I'm going to prove it to you today. You want to think about money in terms of value. Money is not created by time. And this is what most people who don't have a lot of money think creates money. Okay, most people think that money equals one hour of work done, right? Like they have an hourly, right, they work this one hour, they get paid, I don't know $50 an hour, and that one hour is worth $50. No, that is not how we create money. We create money by providing value, and then we get paid for providing that value. And when you think of money in that in in those terms, it totally opens you up to creating more money and you are not limited by time, even if you work for another company that you're on a salary. And I'll give you an example. Last year, I was working part time at the school that we were employed that I was employed at, at the very start of last year. I do goal setting every year and throughout the year. And one of the things that I decided to work on was I wanted to create more value in my job. Now, I didn't talk to my workplace about this, I didn't tell them that I was going to do this. But I learned that the way that you create money is by creating value. And so I just decided I'm going to create more value everywhere in my life in my job just been just everywhere. And I used to work as a primary school teacher. And so I thought to myself, what can I do that would be of more value to the school? What would my what would the school value me doing? And here's the thing, it's got to be of value to the person paying the money. All right, because what's an example I could give you if you're a one of those chefs called what is that Michelin star, if you're like a really fancy chef, but you go and work in McDonald's, that's not going to be valued there. Right? So you have to, you've also got to apply it to where you're at, like, if I'm selling.
Meaghan Smith 06:51
I don't know, I'm trying to think of examples on the fly here. If I'm selling headbands, to a bunch of guys who are bald, that's not going to match up, right? Because they're not going to see the value. All right, I hope you're I hope you're following me here. So it needs to be relevant to what you're doing, and what and who you're selling to. So in my case, I worked for a primary school. So what do the people who work for the who run the primary school value, they value the students learning, and they value the students being able to have lots of opportunities to further their growth and development, right? So I had this idea that I was going to create value by offering yoga to the students at lunchtime. And this might not have worked or my principal might not have agreed, but what I did was I approached her and I said, I presented this idea, I sold her on this idea that I thought it would be amazing if the students had the opportunity to do yoga at lunchtime, and there was a yoga kids, a teacher training course for teaching yoga kids that was coming up. And I said that I would go and do this course. And if I did that course, would she would she like me to teach yoga at lunchtimes. And would she support that? And is that something that is a value? And of course, she was like, Yes, absolutely. Now I went and did that course I paid for that course, myself. I went and did the teacher training to become a yoga teacher for kids. And then I taught yoga at lunchtimes, when I was at school, and I didn't make any money instantly at the school, it's not like my wage went up straightaway or anything like that. But what I did do, for sure was created value. I created something of value for the school. Now, here's what happened at the end of the year. If you've been following me for a while, you know this already and sorry, if I'm repeating myself, my partner got a job into state and we were going to be moving from Victoria to New South Wales. Now, I had this idea that I wanted to cover all the costs of the move up front by selling things and
Meaghan Smith 09:30
an additional activities, money making activities. But one of the first things that I did was that I asked the school for more work. Now I was a part time on going employer. So that means that I worked two days a week and that was it and that was my contract. So they weren't going to increase my contract when I was just leaving at the end of the year. But you know what they did do and It was so easy was they offered me casual contract work until the end of the year. And so I got extra work at my place of employment really easily. Okay, it was, it wasn't even a thing. I just went up and spoke to them. And straightaway, they're like, Yeah, of course. Now, other people who are in jobs that are, you know, it's a, it's a designated position that they have. So often they think oh I can't you know, make more money in this job, I could have easily have thought that it's like, well, I work two days a week. That's what I work. Like, I can't get more work here. I'm I'm only part time. But it was so easy for me to generate more money even within my place of work, because I created so much value for them. So it was a no brainer, right? And the reason why I'm giving this as an example is you might do things that create more value in your workplace, that it's not an instant, okay, you I created value. So I get I instantly get paid more. No, it doesn't work like that. But if you're that person who's creating value, and I don't mean burning yourself out, like you can get really creative with this, I don't know what job you do like you, you, you come up with your own answers. But how can you bring more value to the job that you do? Now, in this example that I gave, for me, that was something that fueled me, that was a value for me and to the school, but I had the school in mind. It's It's such a valuable thing for the kids to have activities to do at lunchtime and extra curricular things that don't cost them any additional money and don't cost the school any money. Okay, I think the school spent, I think maybe it was $50 or $80, or something on some yoga mats, all right. But that's like not even a drop in the ocean in a school budget. But they got so much value out of me doing that. And it wasn't difficult. For me, it was something that I enjoyed, I got so much out of it, I got to learn how to be a yoga instructor. And then I got to develop these relationships with the kids at lunchtime. And at lunch, I was doing yoga in my lunch break. I mean, how fantastic is that it's a win win situation for everyone. But because of that value, because of that idea I had in my brain and then executed through creating that value, I created money easily from a government school, okay, because they were quite happy to pay me and give me additional work. So there's other ways that you can think about this, depending on the job you do. So in my own business now, this year, I don't think of money coming in, as in that client pays me and as if they are the ones that provide me with money, like yes, they pay for a service that I provide. But I create that money with my brain. Like this is my business, I've designed this business how I want this business to run, I have created a product that is so valuable that For starters, I find it so easy to sell. I mean, it's not I don't even feel like I'm selling it, I'm just offering people the opportunity to learn skills to completely change their life. And when you look at it like that, it's it's a no brainer. And the cost that I sell my coaching programme for is just, you know, I 10 X that easily what what the client pays, I mean, some of the clients make their money back just from the decision of deciding to invest in themselves and go all in like, it's such a
Meaghan Smith 14:16
life changing thing that, you know, I create so much value from it that I just make money, like I make more money and I keep making more money because I keep creating more value. I keep giving my clients more and more value. And I mean right now I'm giving you value, and you don't even pay me right? But this is what goes out into the world. And I want you to start thinking about what you do, like how much value do you create? And not from a place of like, Ah, you're not good enough or no, I'm not creating enough value. No, no, not like that. But I've heard too many times, and especially when you work for someone else, it's like they owe you, oh, I do so much around here. No, they don't owe you anything. When you work for someone else, you have a contract, you have a job description, you follow that job description, and you do what you do. And then you get paid. That's it, that is the agreement, right? They are paying you for the value of that job description, if you want to get paid more money, you have to create more value. And the way that you create more value is with your brain. So I want you to start thinking about all the different ways that you can create value. Now, if you run, if you have your own business, I want you to think of all the ways you can increase the value of what you are selling. So whatever, whatever it is, whether you're, you know, work in a hair salon, and you do something amazing that the clients are not expecting, and you're just over delivering, you're just giving them so much value, that it's just a no brainer, they're going to keep coming back to you. They're going to keep telling people about you, it's and being in that space, too. And this is where you know, I'm going to sound a bit Kumbaya, but it's, it's being in an abundant mind space. Because when you're in that abundant energy of like that example, I said, about doing the yoga at school that was from such a place of abundance, like I didn't go out and teach yoga at lunchtime, and then walk up to the Principal and say something like, so are you gonna give me more money now? Right? Like, no. But I was able to operate in that space of I, I already have so much, and I'm creating more, and I'm creating more value. And then, of course, because this is the way that the world works, it doesn't always work instantly. But then it came back to me. Right. And the same thing. It's like this podcast, like I've been podcasting for over a year. And I mean, lots of podcasting groups, where people are always talking about how to monetize their podcasts. And it's like, the audience owes them, I don't think you guys owe me anything. I'm creating value, and I'm putting it out there in the world. And for sure, you get to benefit from that. And of course, you are benefiting benefiting from it. Because otherwise, I mean, why are you listening to this podcast? If you're not, but it comes back to me, right? Like I put this value out there, I've created this podcast with my brain with, you know, I've used my brain to create this value for you. And yes, you might not be directly paying me money right now, like paying me a fee to listen to this podcast. But this value is going out into the world. And I'm putting more value out there than I'm consuming. Right? So it comes back to me in a monetary way. So many of my clients now are coming to me because they found me on this podcast, you know, isn't that such a beautiful thing, it's like I did something that I felt passionate about, like creating this podcast, and put value out there in the world. And now, that has resulted in creating clients for me, right, that's how you make money. You create value. Now, you might have to get creative, depending on what sort of job that you are in. But creating more money is totally available to you. And if you're telling yourself that it's not.
Meaghan Smith 19:04
That's bullshit, because it is, alright, money is available to you in so many different ways. And I've talked about on this podcast, I mean, even when you think of my investment properties, right, like we have investment properties, and how do you create more value with an investment property? Alright, so there's different things you could well first of all, you can make sure you have a really top quality investment property right? If something goes wrong in the property, get it fixed. But because I think in this way now, you know, I've just, I'm just about to send by actually, by the time you listen to these podcasts, I will have already done it, but I send a card to my tenants every year with a gift voucher in it. And I just say like thank you. Thank you for looking after the property. You know, I hope you're having an amazing time in the property and you know, the tenants the first time like Sometimes when it's the first time they've been in the property, they're kind of blown away. Like they always contact the property managers and the property managers get back to us to just say, Oh my gosh, they're just so grateful. They're so thankful that you sent them a voucher. And that's because we do that because I want to create more value for my tenants, I see my tenants as my customers, right? So I want to over deliver to my customers. And guess what, we have never ever had a problem in any of our rentals with any like issues with damage or tenants being unhappy or leaving the house in a weird way or you know that you hear those horror stories of having tenants. But this is how I want you to start switching your mindset from not what can you get, like what's owed to you know, what can you give, what can you create? And I tell you what, you just get so much more back in return when you live in that way, in that abundant way. All right, that's it. Next week is the last episode for the year. I've got a great episode planned for you. I can't wait to be back in your ears next week. If you are enjoying listening to the show and you have never done it before, please leave a review. I would be so appreciative if you did that. It helps others like you find the show and you know just even things like sharing it with people tell people about it. If you're getting something out of this podcast, let people know. Okay, because I want more women making more money, right? We deserve it. We should be making more money and why not? Right share it around. Okay, until I see you next week. Have a beautiful week. Bye Bye.