The Marissa Rehder Show

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Breaking Barriers: Dismantling the 'No Money' Mindset for Business Success

by Marissa Rehder
August 14th 2023

In this potent episode of The Marissa Rehder Show, Marissa breaking down the common 'no money' mindset that often holds budding entrepreneurs back. She delves deep into how you can overcome financi... More

Welcome back to another Monday mindset episode where we are continuing to talk about the word lack and the mindset that comes along with it. And when you're running a business and starting a business, one of the biggest mindset issues that we face is our lack of, of money mindset. It is really a barrier that can keep you stuck and keep you from pursuing your passions and your dreams. And so today, I want to talk to you about how to get rid of that mindset and get a more success focused one. So let's get started. Welcome to the Marissa Raider Show where every Monday we give you the Monday mindset, the inspirational and motivational spark to kick off your week on our show, we empower moms and female entrepreneurs with big goals to take charge of their lives, set positive intentions and start living a life they love. We know how busy lifestyles can be.

That's why we created a Monday mindset for a quick reset. Each week, our advice will help you create actionable steps for achieving your big goals so that each new week sets you up for success. All right, welcome back to another episode. I'm so excited that here today, we are talking about the mindset of lack of money when it comes to running and operating and even starting a business. So I wanna start off by just talking about what does that look like? So you might have a fear of taking risks. You might be procrastinating or avoiding opportunities due to financial constraints. Now, I get it. There really is only so much money, but we're gonna break it down on how you can overcome this, what you can do instead of having this mindset. And by the end of this short little episode, you're gonna be ready to go. So I want you to first think of any situations in your life where a lack of money has held you back back from pursuing your entrepreneurial dreams.

Did you not add in another product? Because you didn't think you could invest in having a product based business? Do you not invest in coaching? Because you have a lack of money mindset? What does that look like in your business? What's a time where your money constraints have held you back? Ok. Now that you've thought of it, I'm gonna give you some actionable steps for you to start and grow your business with without breaking the bank. So the first thing is, is just bootstrapping it yourself, minimizing that initial expense, start small and grow as your business grows. It's a long game, but it will keep you from taking on debt or needing investors or any of those things. I watched my dad bootstrap his own business and you guys, there was nothing more rewarding than seeing where he is now.

And let me tell you, it's been at least 20 if not 25 years that he's been running this business and it started off with very little money in his own pocket and he's grown it to something amazing so it can be done. But it took a while. Another option that you have is small business grants or the idea of crowd funding. And that's where other people will donate money to your business. And so I can't even think of any of the crowd source, the crowd funding sites currently. But if you type in crowd funding into Google, there's a whole list of different places where you can raise money. And so a lot of times you, you can raise money, people will donate it if they believe in your product or your business and what you're developing, and then you give them something in return like first dibs on a product or when it comes out or, you know, something like that, they do get something, but they just really believe in what you're doing.

It's not an investment. They don't get continual kickback from your products or your business or anything like that. And then small business grants is another way I have um one of my good friends actually that's how she started her business was she got a small business grant. She didn't have to pay it back, but it was enough to get her up and operating and she's gone from there. Low cost and free tools and resources are all over. And if you use them and you're willing to put in the work to use them, they are great ways to get started or, or to continue your business and then pursuing partnerships or collaborations is another one that one gets a little more tricky. You need contracts, things like that, I don't ever recommend going into um business with somebody that you haven't actually like laid out, agreed upon and signed to the details of that business. But it is one way to help with that initial cost of getting started or standing your business.

So I want to know which of these tips do you think would be most helpful for you in launching your business? Um Reach out to me or if you have more questions about how you do those things? I will be sharing some of that in some upcoming podcast episodes and blog posts. So stay tuned for that. But just know that there are ways to get started and to grow your business without taking on a ton of credit card or bank debt. So the thing with this mindset is is that you have to be willing to try. So what happens when that lack of money? Mindset kicks in that same strategy that I've shared in the other previous episodes on lack is you have to stop those thoughts and you say no, I know there's a solution to this and I'm going to find it and that allows your brain to start taking in other bits and pieces of information that allow you to solve that problem. You become a problem solving machine versus someone who just says, oh, I don't have the money.

Guess I can't do it. Sometimes you have to get creative. So a lot of businesses start off with like the free versions of or the very inexpensive versions of email marketing, you know, mail chimp Wix Shopify, they use those to grow their businesses and then as they bring in more income, they expand into other areas. So a lot of people don't start off with the websites that you're seeing once you found them in the success era, they had these eras before where they built their own website and it didn't function quite the way they wanted it to, but they never let that thought of not having enough money stop them because there's always another way. It's just how hard are you willing to work for it. So let's change any misconceptions that you have by challenging them. I want you to think about the necessity of significant financial resources.

You need to either start your business or grow your business. What financial resources do you need? Right now, just take a second, close your eyes and just really picture, ok, where am I wanting to go? And what's it take to get there? So now that you have those needs in your mind, I want you to start problem solving other than just needing to win the lottery or somebody giving me a large amount of money. Just, you know, because that doesn't just really happen. People don't just show up at your door and be like here, I'd like to give you $5000 to invest in your business. Doesn't work that way. So now that you know what you would need to have that growth in your business or to start that business that you're looking for, start problem solving the ways you can make it happen if you want to start a product based business where you design and press your own shirts.

Ok. What do you need? Ok. Well, you're gonna need a few shirts and you're gonna need a heat press. So how do you get your hands on those, find wholesale websites where you can buy the shirts for cheaper and start looking for heat presses that have great reviews with less money that aren't as expensive. You don't need an industrial heat press when you first start out vest in transfers instead of needing to buy the cricket and the vinyl and the things like that. There are people who will print those for you so that you don't have to go through the work of weeding them even. But you need to understand the problem where your block is at and then how can you overcome it to keep going? So, if you need a heat press and you don't have the four or $500 to invest into a good heat press, where could you get that money? Where could you either cut expenses? What don't you use anymore that you, you can sell?

You have to get creative because there's always more money. But when you think there's a lack of it, that's what's keeping you stuck. Do you need to purge through your closet? Take it all to the consignment store and take your few $100 that you make there and put it towards your heat press. There's always a way you just have to be open to it. So once you start thinking this way and changing that mindset, some of the things that come along with it are that you will be having financial freedom in your business because you're going to learn how to manage money, how to budget it, how to set your priorities, to invest in things, you're going to have increased creativity. Um You're going to be able to have agility in your business and your spending habits because your brain is going to be developing those neural syn can't even say it, those synapses that you need to problem solve later on down the road.

If you didn't have these problems now and you just like gave up every time a problem presented itself, your brain learns to take the easy way out, which is to just not do it next time. But as you start to add this problem solving in and overcoming this mindset of a lack, your brain will learn to use it in other areas of your life also, which is just the coolest thing and you will start to recognize it when you start paying attention to it and it's totally something to celebrate. So I want to invite you to really think about how you can get rid of that lack of money mindset. Launching a business on a budget is not easy, but it's doable. And I want you to come engage with the community in our Facebook group, the woman to woman community, share your or inspirational stories or any of the problems that you're running into and let us support you.

So come hang out with us in the woman to woman Facebook group. I will add it to the show notes, but until we connect in there, I am gonna be here, cheering you on and join us for one more week of overcoming the lack mindset where we're going to come to Jesus with our lack of experience and what happens to us when we feel like we don't have the experience to run a successful business. So tune into the next Monday mindset. Video tune into the next Monday mindset episode and I will be here cheering you on. Thank you for joining us for another episode of the Marissa Raider Show. Our goal here is to support and encourage female entrepreneurship along with managing the everyday chaos life throws our way. We strive to help women who want to take their lives and business aspirations to the next level. And that takes focus, dedication and hard work to get there for more great content for Marissa.

Be sure to check out her website www dot Marissa Raider dot com or follow her on Instagram at Marissa Raider coaching. See you next time on the Marissa Raider Show.

Breaking Barriers: Dismantling the 'No Money' Mindset for Business Success
Breaking Barriers: Dismantling the 'No Money' Mindset for Business Success
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