Wealth Building Tip of the Day:
Last month, I took an important step in investing in my own wealth building journey: I attended a live business workshop hosted by Rosetta Thurman. It was an incredibly empowering event. When I went, I set out to get the most I could out of the event. It was one of the few paid business events that I’ve attended over the last year. It also turned out to be the one of the most valuable I’ve ever gone to. When I was considering why it was this past week, I discovered four lessons from it, which are equally important for wealth building:
#1. You Get What You Pay For
Compared to other local Black women entrepreneur events I’ve attended, I paid a bit more for this event than I usually do. And the event turned out to be higher level than any of the other ones I’ve attended. From Rosetta, to the event space, to the other attendees, there was a higher level of seriousness and focus surrounding the entire event.
Lesson: Just like with wealth building, the more money you invest in getting the services and help you need, the higher the level of service you’ll receive.
#2. To Move to the Next Level, Be Around Others at that Level
In the past, I have received business coaching and support from Rosetta. I truly admire her and she has always been amazingly supportive and honest. And as a business woman, I aspire to have an impact and achieve a level of success similar to hers. So I bought my ticket with the intention of immersing myself among others who are at the level that I aim to reach.
But to be completely honest, I had fears about attending the event. For a brief moment, I almost made an excuse not to go. I know that Rosetta is an utmost professional and an excellent, non-judgmental coach. But the thought of meeting her in person did elicit feelings of “less-than.” I don’t buy into the belief that anyone is better than me. I do accept that others may be better at doing something than me. However, they are not better than me, no matter what they’ve accomplished. So, after getting my mind right, I courageously went with the intention of being open to learning and receiving, no matter how vulnerable or uncomfortable I felt (which I certainly did at points).
Lesson: Wealth building requires the same things: actively seeking out others at the next level to elevate, and enduring feeling uncomfortable in light of your positive financial goal.
#3. A Higher Level of Investing Results in Connecting with Like Minded Individuals
As I mentioned, the cost of this event was more than I have previously paid for live business events for Black women. I ended up making 3 meaningful networking connections with 3 ladies. And guess what? Out of 3 of the ladies I met, 2 reached out to me immediately after the event to seriously connect. I reached out to the 3rd sista. With all 3 ladies, we have already moved forward in setting up a conversation or follow-up meeting.
To compare, I went to another networking event, where I met many more sista entrepreneurs. At one event, I brought home about 10 business cards and emailed all of them. Of the 10 sistas, only 2 sistas replied to my email, expressing no definitive plans to build a business relationship. I was very surprised by this, because at the events they seemed eager to connect as potential collaborators.
It dawned on me that the cost of that other event was far less. And the bottom line is, that the more “skin in the game” people invest, the more seriously they will view an opportunity and act upon it. So the ladies at Rosetta’s event—like me—were more serious about making the most of the money and time we invested in the event, and were more eager to act on it.
Lesson: It is the same with wealth building. If you’re only willing to attend “free” or low-cost events, you are only going to connect with those who are only willing to commit only so much time and money to their financial success. They have not yet learned the valuable lesson that to make “real” money, you have to first spend “real” money.
#4.The Greater the Potential Gain, The Higher the Risk—and the Scarier it Feels
Because I am dead serious about becoming a multi-millionaire and controlling my financial destiny, I made a major investment to get business support from Rosetta. I invested money in working with her. MORE money than I have ever invested for any business coaching. I want the Best.
But that doesn’t mean I wasn’t scared paying that much. My stomach was churning with fear, even as I submitted the payment. I’m CONVINCED that Rosetta is the best coach to help me in my business, and I am COMMITTED to my own success.
But it still felt incredibly scary. Why?
I know that there will be no INSTANT results, which I want so badly, so I can "feel" like there is no risk involved
It felt extremely uncomfortable to do something that caused me to move beyond my own self-imposed limits (like how much I was willing to “safely” spend on business coaching)
I need to have faith and trust the process and that it will work—since there is no GUARANTEE that it will, no matter how badly I want one
I will need to do a lot of work: mentally, spiritually, and physically. Even though I definitely want different results, there is still the part of me that wants to cling to my old way of doing things---even if I KNOW they don’t work
Lesson: Just like the wealth building process, fear and conflicting feelings—along with excitement and hope— will arise when you decide to take the next step in taking control of your financial destiny. They will always be there, as long as you keep pressing forward to create financial independence. You can COUNT on it.
Anyway, I'm SO glad I attended the event and that I invested in my own financial success and wealth building. I’m putting in all, so I can get all that I’m working for. My financial destiny and future are so worth it.
What about you—which wealth building lesson most spoke to you?