Monica Shah is a seven-figure business coach who helps entrepreneurs build businesses that fund their ultimate lifestyles.
Monica achieves this with her company, Revenue Breakthrough, which provides step-by-step assistance for developing, increasing, and evolving clients’ businesses.
Monica also happens to be the author of “Getting Rich: You’re Doing It Backwards” and “Pause: 52 Questions that Lead to More Money and Time.”
On the podcast, Monica discusses how making money begins with the mind and the bottom line.
Why Do So Many People Struggle with Money?
When you’re growing up, the two biggest taboos in conversation are sex and money. You’re disincentivized from asking your parents how much money they make or how much the car costs. As this tends to happen with childhood habits, this mindset leaks into adulthood.
Once you become an entrepreneur, however, everything changes. You have to talk about money all the time, and in detail, no less. You have to keep track of conversion rates, expenses, and revenue, which can cause some discomfort.
Even in business school, Monica has noticed that there’s very little education regarding personal money management. You’re taught how to handle the money of others, but not your own.
Does Having a High Self-Worth Bring You Monetary Worth?
Monica believes there are two facets to having self-worth. The first: confidence must be earned, not learned. No matter how much prestige you gain for yourself, asking for money will never become easier if you don’t practice.
The second facet has to do with the voices in your head. When you’re a kid, you take in information like a sponge and, if left untouched, it becomes a value. When dealing with money, all of these deeply set values talk to you and can drive your decision making.
Once you’ve identified the source of the voices—such as habits passed down by your father—you must create what Monica calls a “new money voice.” Whatever this voice is, it should reflect your goals and reality, as well as drown out the disruptive voices.
Are There Methods for Developing Your Money Voice?
The importance of working on your mindset can’t be overstated, but it’s actions that get things done at the end of the day.
In fact, the brain adapts much easier to new actions than it does to new ideas. Telling yourself all sorts of inspiring things in the comfort of your home is easy, but it’s only by getting out of your comfort zone that things will start to change.
It’s also important to know that growth doesn’t occur in a straight line. Setbacks will occur, but instead of resisting them, you need to learn from them. Mediation or reading can help you build resiliency to setbacks.
For instance, if you have a morning routine and miss a day, it’s easy to start beating yourself up. However, Monica sticks with the 70% rule, meaning you’re doing well if you can stick to your rules 70% of the time.
A resiliency to setbacks also extends to starting over. Starting over has a stigma attached to it, but Monica contends that it’s a perfectly natural thing to do. As long as your decisions are in service of your ultimate goal, you shouldn’t let outside voices disturb you.
Where Can You Learn More About Monica?
If you’re intrigued by Monica’s ideas for making money, her website has a Money Making Marketing Calendar that lays out all the necessary actions. You can also visit the official website for her business at RevenueBreakthrough.com.
Revenue Breakthrough can be contacted directly at Support@RevenueBreakthrough.com.