Have you thought recently about how your business is structured in order to produce stability?
Today we are going to discuss a super important topic. Megan Hale joins us to talk about stability over success.
Megan spoke at Growth Getters Live, and people are still talking about how deep she was able to go at that event. We are having a conversation about the things that matter in business.
Meet Megan Hale
Megan Hale is a business strategist & money mentor for experienced coaches, consultants, helpers, and healers ready to distill their wisdom into a unique body of work and make their most meaningful contribution. She’s highly focused on sustainable business design that creates multiple 6-figures in recurring revenue while also blending her background as a former psychotherapist to help your work and your company be the deepest expression of who you are. She works with progressive visionaries who are just as passionate about ushering in new paradigms for how we work, live, love, and lead. You can find her (and her infamous Money Map) at meganhale.co.
What is the significance of the Money Map?
- In its simplest form, the Money Map is a system of spreadsheets and calculators to give you high level financial clarity
- Applicable to your life and your business all in one place
- Will help you calculate anchored meaningful money goals that are personally relevant to you
- Figures how much you need to be earning to fund your dreams
“[The Money Map] blends financial stability that creates the ease in our soul but also gives you room to grow and dream and expand into the things that you want to step into through your business.” – Megan Hale
The Stability Created Using the Money Map
- The thing she most often see’s is the “money mountain” in which we only look at the peak
- Where all our dreams live
- All of the noise that tells us what the top of the mountain should look like
- We are all wondering how to get there, but we have to get to the peaks first
“What we don’t realize is that there there are a couple of peaks that we have to get to first if we want to scale that mountain in a way that is sustainable, fulfilling, and enjoyable” – Megan Hale
- She helps people define what that first peak is, which is all around sustainable cash flow and stability
- What does that number look like based on your actual financial needs?
- This is a specific precise number down to the dollar, and we calculate your good/better/best goals
- She helps people zero in on one key offer that can create the financial stability so you can streamline your marketing, focus, and energy
“Once we have that number in mind, now we get to play and dream and envision how we are going to reach that goal in the most aligned, sustainable, peaceful way possible.” – Megan Hale
“You have to reach that first peak so that you get the confidence, the stability, and the foundation… so that you can determine what success looks like for yourself.” – Natalie Gingrich
Stability Through The Money Map
- If you have financial stability from the work you are already doing, you give your offer time and space to learn what it wants to be
- She is a believer in the one to many offers because that is what opens up more possibilities
- First you need to do the one-on-one work to know what you are really good at
“[The Money Map] works at every level… it was incredibly instrumental in the foundation of our business and reaching the initial goals that we needed, and as the business has grown it stays with you… it’s a tool that serves us forever.” – Natalie Gingrich
- Ultimately getting clear on your money goal, reverse engineering what you are great at, and then determining what kind of offers you can have
- The Money Map is clarity that is the map of your business
- What you are trying to get it to do an how you are going to get it to go there
- When you don’t have clear money goals we are putting more financial pressure on ourselves
- We don’t have the full picture, which is where undercharging happens
- When we have clarity around how much we need it creates sustainable price points
- The numbers tell you what you need to charge and that helps you externalize price
“Having a meaningful connection with your revenue goals and what they provide for you and your family and your future is a whole other level.” – Megan Hale
- A lot of business owners want to create their offers with accessibility in mind but it takes a long time to create stability with lower priced offers because you need an audience
- It takes a long time to build an authentic audience
- Really think about creating financial stability first because once your business has that, it opens the possibility to serve more people at different price points
- Think of your business as an ecosystem
- Have one key offer that is responsible for the financial stability in your business
- Once that offer is dialed in, now you can layer other offers that can serve many people in different ways
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