Today on ‘Your Stories’ we have The Money Goddess, Karen Bashford telling us about her entrepreneurial journey. Karen has been a coach for 5 years and has been running her business, The Money Goddess since February 2012. She helps women have a loving relationship with money through her coaching programs, and shows them how to create the right mindset and have the confidence and knowledge to make money work for them, instead of the other way around.
1. What drove you to start your own business? What was the turning point?
I was working with a Financial Advisor who felt the need to micro-manage my work instead of giving me the free rein I needed. This was especially hard, as he knew I had successfully run my own virtual assistant business (which I actually closed after I realised I didn’t enjoy the work.) I also trained as a Master NLP practitioner and hypnotherapist. I loved how it was possible to create a shift in thoughts and behaviour by the use of words. As my background had been in the financial markets, it seemed logical to concentrate on coaching and mentoring women who have a fear of money and finance.
2. Who do you admire or look to for inspiration as a business owner?
For inspiration I am inclined to study people like Oprah Winfrey who has become a successful business woman despite her difficult early upbringing. She is living proof that no matter how bad life is, you can overcome obstacles to achieve your dreams. Richard Branson is another business owner I admire. Even at young age he was seeking ways of making money. Richard is also prepared to buck the trend and go for what he believes in.
I love the inspiration and motivation provided by Helena Holrick of ‘Workshops that Work’ and the Croydon ‘Business Wealth Club’. Her knowledge is amazing and she mentors and empowers you to take action and to make the most of all that she teaches. Helena has the knack of getting to the heart of the matter and being able to provide answers very quickly. Because of the nature of my coaching and mentoring I admire the success of Wayne Dyer, Bob Proctor and others for being the leaders in transformational work.
3. What are your goals for your business?
My goals for my business are 1) to franchise the business so other women can take the message out to the world and 2) help women overcome their fear of money and lack of belief in their abilities to manage money. By changing how women see their role in the world of finance, they will be able to teach their children how to manage money and create the lifestyle they aspire to.
4. What would you do differently next time around?
I would seek advice and be prepared to skill swap or pay for coaching and mentoring as a way to gain focus, which in turn saves a lot of painful mistakes and frustration when setting up a business. A coach should give you the ability to access your inner creativity and beliefs and to help you make decisions (and find solutions which you might not have even thought of!) I would do a lot more research before establishing my business. I went through a long-winded process to finally settle on being ‘The Money Goddess’. If I had done my research and looked at the skills I had, and what I enjoyed, I would not have wasted so much time or money. Don’t be a perfectionist, be prepared to be a work in progress, no one notices if something isn’t completely perfect or finished, as they’re not looking for the faults, they’re looking for the information to help them with their pain.
5. What difficulties and challenges have you had to overcome and how did you keep going?
I was seriously ill for about 6 months and having to deal with the fact I was unable to study as much as I wanted to, or work with clients, was really hard to accept. I am usually on the go all the time. Accepting help was also a big challenge as I was so used to working on my own. To get things done while I was ill, I had no option but to ask for help. I kept going because I wanted a successful business, I didn’t want to go back to a job and I knew my illness wouldn’t last forever. I also hate to give up. I will keep going even if I have to change course to get the end result, but I also realise when it is time to let go if something really isn’t working.
6. What legacy would you like your business to leave to the world and your family/friends?
My legacy to the world will be to have women overcome their fear and lack of confidence around money and have a loving relationship with money. They can then teach their children how to take control of their finances and help create a society where there is no poverty; where everyone has an equal opportunity to be wealthy. I also want to leave the world with an environment where animals, whether wild or domesticated, are allowed to live happy healthy lives, instead of being persecuted or harmed by mankind (whatever form of harm it is).
7. What support did you seek out and what difference has that made to your business?
I signed up for mentoring with Shiva Attah of ‘Winners Academy’ to learn about client attraction and how to systematise the business, so it is possible to have an income without constantly looking for new clients (not just selling my hours to achieve an income). I now work with Beverley Corson of ‘Future Inspired’ who helps me plan, market and strategise my business; all with a view to creating my franchise model.
Sam Last of SJS Virtual Solutions has been a great find as my PA. She deals with my social media input and uploading of my ebook. Sam also manages my blogs and database. Joining the Business Wealth Club in Croydon has also been fantastic for me, I get the support of other business owners, all growing their businesses. We have regular workshops and also the opportunity to come together to discuss what support we need, to find joint venture partners, or to provide services to our respective businesses. It keeps me motivated, as I would be letting the other members down if I didn’t do what I committed to, in the time frame I set. The knowledge I have obtained and been able to use to implement the strategies in my business has been phenomenal.
8. How far ahead do you plan and what keeps you on track and motivated?
Beverley and I have planned 13 months ahead, but the plan is flexible enough to be changed as we explore new ideas and have the systems in place which allows for a quick change of plan. I am very much motivated by the fact I would be failing so many women if I stopped being ‘The Money Goddess’. Right now I’m helping women to create wealth in their lives by changing their mindset and giving them the knowledge to make sound financial decisions. I am also motivated by the need to educate children, as they are in a far worse situation than a lot of women today. They have been bought up where ‘money = a card’; the exchange for goods isn’t ‘visible’ to them. I also keep on track because I have my legacy to create for the wild and domesticated animals of the world. Without the funds it won’t be possible to leave a legacy for them.
9. What has been one big success that you have achieved in your business?
I would consider my biggest success is where my clients realise it isn’t just about the money. The impact of having the right mindset affects every aspect of life, including the relationship you have with your children, partner, colleague and friends. Money is the biggest cause of relationship break ups, but it doesn’t have to be. If you understand your money personality and how others interact with money because of their personalities, it is possible to create change for both by changing only one.
10. What piece of advice has had the most impact on your business?
The best piece of advice I have received is ‘don’t be a perfectionist’. I was always worrying if something wasn’t quite right – then it couldn’t be put into the public domain. In fact most people are only concerned about achieving an answer to their problem, not how something looks.
11. What are your top 3 tips for someone who would like to start a business now?
Do your research; Know your client. What pain does your ideal client experience? How will you be able to help them get out of pain? Where do your ideal clients hang out? How can you contact them? Know how long you can manage on the money you have, before you start to get desperate for an income from your business. Again it takes your focus away from providing a great service, to one of ‘I am desperate for an income.’ Clients pick up energetically when your vibrational level is low and automatically turn away from you. Ask for help. You can’t do it all on your own and often you will find someone has done it already, so they will save you the pitfalls and costly mistakes – why reinvent the wheel?
12. What are 3 books, websites or resources that you would recommend to other business owners?
I found it really hard to decide what to recommend but finally settled on the following books: EMyth Revisted – Michael E Gerber – shows entrepreneurs that just because they are good at something, doesn’t mean they will be good in business; the skills are different to that of a hobby. The Celestine Prophecy – James Redfield – gives you an insight into the different ways your energy can be utilised by others and how you behave towards others. You will be amazed how your relationships play out. This is important if you are going into business; you need people around you to support you, not drain your energy. The Richest Man in Babylon – George S Clason– – so helpful for you to take action where your finances are concerned and to have an understanding from ancient times how money should be managed to create wealth.