Erin Samaniego

Is it a Financial Investment or an Expense?

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Money Bag Featured

Is it a Financial Investment or an Expense?

Financial Investment

Many entrepreneurs, including myself, can get caught up in the money struggle.

Especially today with skyrocketing prices and a struggling economy.

When I started my business, I struggled with how to get going with little to no budget. I didn’t know where to spend money that would make a difference based on where I was in the stage of growing my business.

I see too many business owners spending money in the wrong places.

About a year into my business, I knew I needed a support structure like the one I offered to other lady bosses. A long-time mentor of mine started up a year-long program, and I knew I had to be in it but had no idea how I would afford it.

It was a lot of money that I did NOT have in the bank, and it scared the crap out of me. How was I going to get the money to do this program? I ended up borrowing the money because it was important to me to be in the program.

This was when I started to discover money as a powerful tool.

Financial Investment - The Lady Boss Lab

What I realized was that the money I “spent” was money I was really investing in my business and wasn’t an expense at all. Whenever I thought I couldn’t afford something, I felt a sense of panic especially when I didn’t have a lot of money left. But when I started to look at the money I spent in my business as an investment, I was more committed and engaged in what I was spending my money on. I got so much value out of the program because I had a lot at stake. In some cases I got more value than those who could easily afford the program.

I showed up to every meeting and call and did every assignment!!! I didn’t realize how powerful money as a tool had become for me until I paid the loan off in only 6 months, much sooner than I had anticipated.

Not only is money now a tool for me, but it has changed the way I relate to money. I have way more power around money as an investment, even when I make a bad one.

My Challenge to You

My challenge to you is to stop relating to the money you spend in your business as an expense. Instead, look at what you spend as an investment in your business and see if that investment is worth it. Think about what you are investing in before you spend the money, so you have an active intention to get something out of it for yourself instead of passively waiting for the value to be there.

Maybe you’ll discover that you need to utilize business tools to that you are spending your money on to their fullest potential. Or perhaps you aren’t participating in what you invested in fully because the investment isn’t big enough, or you don’t have enough at stake.

If you start to do this, I promise you will shift how you see money as a tool and experience more power and abundance!

Erin Samaniego

Who do you know in a service business that could use support in having more power around money?

Lady Boss Lab is looking for Lady Bosses in service businesses who have been in business for at least 1 year.

We currently have openings for the following industries:

  • Photographer
  • Fitness Trainer
  • Esthetician

I’d love to chat with them and see how the Lady Boss Lab could help them reach their business goals.

Schedule a discovery session with Erin

The Five C’s of Powerful Entrepreneurship

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The Lady Boss Lab

What are the 5 “C’s” of powerful entrepreneurship?

There are several principles I have discovered in my 26 years of coaching and business ownership that I have found foundational for success.

The first C is Calling
ring, ring…do you hear that?

Are you running a business because you think you have a marketable idea? Do you have a product or service that people are buying? Are you making money selling it?

All of this is fine, but entrepreneurship can be very challenging. What gets you through the difficult times?

If you are not connected to a calling bigger than what you do and what you sell, your business can feel like a ball and chain around your ankle. The excitement you once had begins to disappear unless what you are doing is grounded in something bigger than all of it.

A great book that helped me understand this topic is “The Infinite Game” by Simon Sinek. He describes that most of us create finite games that have an end.

So what do we do? We create a goal and accomplish it and then start over. You might say, well, what’s wrong with that? I would say that’s the modern rat race or hamster wheel. Accomplishing goals is great but can feel empty, especially when you are not reaching those finite goals.

An infinite goal is so big and so motivating that you cannot possibly achieve it. Huh?!?

Having an infinite goal gives you a purpose or calling with no end so that everything you do and every goal you set forwards that vision.

I would get so burned out trying to get new clients, launching and filling our quarterly planning summits, and getting bummed out after losing a client until I did the work to discover my calling. When I realized that my calling is people to experience who they truly are, there was no way to win that game, but everything I do to forward that vision creates inspiration and motivation so that even when things get really tough, that infinite goal or calling doesn’t stop working on me. It helps me pick myself up and continue because even when things are amazing and I am crushing my goals, that calling won’t run out!

If all you got was this and didn’t read any further, that could be worth a fortune! Let yourself think and brainstorm about what lights you up. When was the first time you felt so inspired by something? What about it inspired you? Your calling can evolve, but you will know it once you get it!

Erin

The second C is Coach
Find a coach!

All high performers have coaches. If Olympic athletes have coaches, doesn’t it make sense that anyone who is ambitious and up to big goals has a coach?

“A coach is someone who can see something that you can’t see, not someone else who is necessarily better than you.” –Tony Robbins

Having a coach doesn’t mean you’re defective; it actually means you are up to having Olympic-quality performance and results in your business.

“You cannot solve problems with the same thinking that created them.” – Albert Einstein

A coach can challenge your views of how you have done things in the past and shift your approach in a way that helps you discover new opportunities and pathways for achieving your goals.

As a coach, I have had many coaches throughout my career, and it has always been a worthy investment. Left to our own devices, we can find ourselves overwhelmed, distracted, and not taking action where it matters most. Having a coach creates accountability and forces you to step beyond what you will do on your own.

Talk to people and see whom you know that works with a coach. Then, talk to a few coaches and find someone that feels like a good fit. 

I sure would love to talk to you!

The third C is Community

Did you know the probability of reaching your goals increases by up to 80% when you write them down and have shared your specific goals with another person? Why do you think that is?

One of the reasons that percentage goes up is because when you write down your goals, you are telling your brain that you have decided to commit to that goal. When you tell someone else the specific goal, you further reinforce that goal in your brain. You have now created accountability, which will have you more committed to your daily actions to achieve the specific result.

Another critical aspect of a community is surrounding yourself with people who are just like you. When you surround yourself with like-minded business owners who have ambitious goals and understand what it takes to build a business, you will have a productive sounding board to help you further your business

growth. But if you don’t have an intentional community to support you, you will get terrible advice from people (probably employees) who don’t have a clue about what you are dealing with.

You must surround yourself with other lady bosses who will support, encourage and be willing to challenge you. Sometimes we struggle in business, and we start believing that something is wrong with us or our business. In a community, you realize that not only is there nothing wrong with you, but you are just like other lady bosses and are not defective. You are just like everyone else with very similar challenges, and that can provide confidence and clarity.

The fourth C is Curiosity

The most powerful definition of the word Curiosity is from Brene Brown’s book, Atlas of the Heart.

Brene Brown defines Curiosity as “Recognizing a gap in our knowledge about something that interested us and becoming emotionally and cognitively invested in closing that gap through exploration and learning.

Choosing to be curious is choosing to be vulnerable because it requires us to surrender to uncertainty. We have to ask questions, admit to not knowing, risk being told that we shouldn’t be asking, and sometimes, make discoveries that lead to discomfort.”

Curiosity creates opportunities that lead to courage.

And the fifth C is Courage

The textbook definition of courage is “the quality of mind or spirit that enables a person to face difficulty, danger, pain, etc., without fear; bravery.”

I agree with the first part of this definition, but I don’t believe that courage comes without fear. Instead, I think that courage takes place in the face of fear.

Consider that we wait for fear to disappear before we take action. And how many times have you not taken action because you were afraid-even if the fear wasn’t logical?

I recently actively took on being courageous whenever I felt fear or anxiety about anything. It was so amazing how many times I took action even when I felt all the feels, and once I did it, EVERY TIME, I was so surprised by how easy it was. I almost felt embarrassed that I was letting my fear get in the way.

Consider this great news: if courage was taking action, no matter how much fear you felt, nothing could stop you. The experience of fear may or may not disappear and usually doesn’t! So you can wait a lifetime for fear to go away or BE courageous and take action.

Start by making it a fun experiment. Notice how often you think about taking action and what emotions stop you. Once you start taking action and pushing through that fear or discomfort, you will build a kind of confidence you can’t manufacture any other way. You will begin to become your own superhero and discover and experience who you truly are, which is my wish for you!

Are you ready to make your dreams come true?
Book a Strategy Call with Erin today!

Love What You Do!

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Lady Boss Lab

In a world where there is so much to do, so many available opportunities, and unlimited potential-we are more burned out and overworked than we’ve ever been!

In a private survey of over 4,000 professionals, the results show that 74% of people do not feel that they are maximizing their professional potential. Source: Procrastinate on Purpose by Rory Vaden.

There is overwhelming pressure in society and the world of business that makes us think we should be more productive. We live in a very fast-paced, high-tech, on-demand world. So, of course, the forcefield of business would pull for more, faster, better, now! 

But if you think about it and tell the truth, how could we possibly do more, faster, better, now (which is one BIG constantly moving flow of to-dos) in a fixed 24 hours every day?

Lady Boss Lab

It’s like turning on the faucet and filling a glass with water, thinking you can catch all the water in the cup and keep the water running. 

IT’S PHYSICALLY IMPOSSIBLE!! 

So why do we even try to tackle so many things each day? You might say, “Well, I’ll just get more efficient!” My response would be, “Ok, let me know how that goes.” Rory Vaden says, “How does it feel to know that all we are is a bunch of juggling hamsters sprinting towards an inevitable crash landing?”

What if our feelings that we aren’t living up to our full potential, isn’t because we aren’t doing enough. Consider it’s because we are doing too much that is not aligned with who we are and what we care about. 

Here are some questions to consider and take inventory of what you do each day. 

  • What do you need to stop doing that no longer serves you?
  • What is part of your regular routine that goes against your personal values?
  • Are you taking on things out of obligation?
  • Do you have a hard time saying no and pleasing others?
  • Maybe you are a closet perfectionist, and you think you are the only one who can do the job or task? 
  • What can you delegate?
  • Are you the hamster on your way to the inevitable crash because you don’t take the time to set up systems and automate things now to give yourself more time in the future?
  • Then the next question is, What the heck do you care about? Why this business? Why did you start this business in the first place?
Lady Boss Lab

Then from that place, and from that place only, look at what there is to do to fulfill your passion or vision. 

The actions to take will start to become more apparent, but you must stay connected to the reason you started your business in the first place. I promise it wasn’t to be an overwhelmed person on a hamster wheel!! 

Fall back in love with your business by doing less! Slow down, do the things that matter with purpose and intention. The satisfaction and joy you will feel will radiate. You will become more productive, and in my experience, you’ll probably get more business!!!

Imagine that!!

Stop trying to get more done in the fixed number of hours you have in the day!

Curious if The Lady Boss Lab is for you? Let’s talk about how we can help you formulate goals, achievements, and accountability to help grow your business.

Schedule a Free Mini Coaching Call

What is a coach?

by
Mind Masters in You

I believe that the term “coach” is overused in the realm of Life and Business Coaching. In fact, if you know me, you know I can’t stand the word coach. But it’s the label that people put on what I do to understand it.  And don’t get me wrong, I have many coaches!

A coach can tell you what to do and give you their formula, but that won’t necessarily make any difference for you. We are bombarded with self-help and how-tos EVERYWHERE.

When you Google “business success for women entrepreneurs,” there are 177 MILLION search results!!!

Why play that game? We don’t need more “how-tos”! Instead, business owners need to develop the skill and discipline for thinking, creating, experimenting, testing, listening, learning, and adjusting to discover your unique formulas.

Now, this takes time! But it compounds into big results when you give yourself the time to make slow and steady progress (as we like to say, “be the tortoise”). AND it’s your unique formula that cannot be duplicated or taught! Wow, what a competitive advantage to have in your business!

“We overestimate what we can accomplish in the short term and underestimate what we can accomplish in the long term.” ~ Jeff Willmore

So stop trying to get fast results or find the secret formula everyone is trying to sell you! Instead, put yourself in an environment that supports you in innovative thinking, producing increased, real results.

“What gets measured gets better.”

Are you ready to develop the skill and discipline for thinking, creating, experimenting, testing, listening, learning, and adjusting to discover your unique business formulas?

Schedule a discovery call with Erin today!

You Have a Destiny, and You Are Worth It!

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Mind Masters in You

You have a destiny, but it’s going to hurt and it’s going to cost you something. AND you are worth fulfilling whatever your destiny is!!!

But here’s the thing-your destiny doesn’t just happen; you have to go get it.

When I say you have to go get it, I don’t mean what most people hear. I don’t mean you have to sacrifice countless hours, stay up all hours of the night, work nights and weekends, or give up spending time with your family.

You’re in for a fight! A fight to come to the realization that your destiny is mostly a fight with yourself and your brain.

There are two reasons people fall short of fulfilling their destinies.

  1. Past pain or failure
  2. A little taste of success

Let’s look a little further.

Past Pain and Failure

Somewhere in the past, you have been rejected or have failed. Those rejections and failures have created pain triggers to help avoid pain in the future. When we experience pain, whether it’s physical or emotional, our brains trigger to avoid (at all costs) to never experience the same pain again.

Here’s the problem, most of the pain or failure we experience is false pain or fear.

You see, if we were cavewomen in the Stone Age, this kind of protective mechanism would work perfectly. It would work because human beings’ survival was a literal threat-survival of the fittest!

In this modern world, today’s threats are not actually threatening our survival-BUT our brains don’t distinguish between an actual threat and a perceived threat. Instead, our brains create a protective response that now no longer serves us.

Understanding this mechanism allows us to recognize the fear and apply an informed view of what is real and what is perceived.

Fear and failure don’t have to define you.

You can see the fear for what it is and then make a choice to move forward of your own free will. Or in the case of failure, recognize where you fell short, leverage the learning opportunities, and grow from what you learned from where you failed.

The second reason we fall short of fulfilling our destinies is due to a little bit of success.

Have you ever reached a goal and then celebrated a little too long? Maybe you stopped doing what was working that helped you reach your goal in the first place. Then the success starts to dwindle, or the momentum begins to taper off. We can definitely see this tendency with losing weight. Once you reach your weight loss goal, it’s like, “Hey, let’s eat cake to celebrate!” But, unfortunately, the tendency is not to keep doing what worked-even though that is precisely what we need to do.

You are only ever-expanding or shrinking in your abilities.

The minute you have a win, celebrate and reward yourself for the success!!!! And then look at this new accomplishment and see where you want to keep expanding and then take action. Otherwise, if you don’t keep growing where you are, you will take the proverbial two steps backward.

As human beings, we are only really afraid of two things; falling and loud noises. Everything else is learned and not real.

Mind Masters in You

Despite your past, you have a future!!

Don’t lose the heart to fight. Doesn’t the fight sometimes take the wind out of your sails? Sometimes that fight is hard to get going. There may not be anything inspiring initially. Or maybe you muster your anger to get you moving forward. Instead of waiting to get the wind back in your sails, TAKE ACTION and move that wind yourself.

Look at the size of the possibility of what could be. You have to want your destiny badly enough. Reflect on what you HAVE accomplished so far and stop focusing on the obstacles.

When your faith is fading, and you feel like quitting:

Focus on the blessings. Gratitude is a powerful tool. It frames the way you view the world. So does dwelling on the obstacles. So prioritize which is more productive for you-dwelling on what is in your way or being grateful for what you have now so that it creates space to receive more blessings in the future?

And then, call out what you are fighting for. I was tired of sacrificing my success for my family and my family for success. So, I declared war on the notion that I could fulfill my destiny or have financial freedom but not both.

My view was completely setting me up for only having success or family.

Every day, I make a conscious decision that I can have a successful business doing what I love and be the mom and wife I want to be, despite what others and society say.

What is your destiny? Your destiny is worth the fight!

If you want to dig deeper into how you can accomplish your destiny, schedule a discovery call with me!

Schedule a Discovery Call Today!

Why Create Deliberate Practices for You and Your Business?

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Mind Masters in You

For the last 2 1/2+ years, I have been actively studying and implementing the concept of deliberate practice into my business and some areas of my personal life.

Deliberate practices can be defined as a unique action that is purposeful and systematic. This intentional practice focuses on tasks beyond your current level of competence and comfort. It isn’t about setting goals. Deliberate practices are something that you create and go after to consciously elevate a skill and performance.

After leading dozens of Business Strategy Sessions with entrepreneurs, I realized that many aspects of The Lady Boss Lab are implementing deliberate practices, and our quarterly summits are one of them!!

A significant component to creating a deliberate practice is measuring and tracking. Tracking the outcome of your practice allows you to actually see the progress instead of feeling how things are going. We can then implement the information to shift and fine-tune the approach.

An example of deliberate practices can be compared to how professional athletes train. They create routine practices, record themselves, and review the videos to see where they need to shift.

Do you have a deliberate practice? Do you find yourself waiting to feel motivated before taking action? Do you get overwhelmed with how to elevate your performance?

The Lady Boss Lab is where you will bring deliberate practice to your performance, business, and personal life.

Mind Masters in You

“When I started my business 14 years ago, I had clients. But I wish I would have had The Lady Boss Lab as a part of my business back then! The Lady Boss Lab has helped me create a foundation for my business that has helped to significantly reduce my anxiety and overwhelm and keeps me grounded in why I love the business I am in.” – Stephanie M., Owner

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SCHEDULE A DISCOVERY CALL TODAY!

You Can Accomplish More than You Imagine

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Mind Masters in You

My mentor said to me once, “People underestimate what they can accomplish in the short term, and they overestimate what they can accomplish in the long term.”

I think of that quote every day!

It can be frustrating and overwhelming, chugging along day by day, feeling like you are not getting where you want to be fast enough. I know I felt like that in the beginning. But baby, after three short years, I am so proud of what I’ve accomplished and the amazing work, my clients, are doing in The Lady Boss Lab!!!

It really is true. I remember feeling like I was never going to “get there.” Make enough money, get enough clients…but looking back and in the blink of an eye, I can’t believe it’s already been three years, and we are on the verge of having a waitlist for our programs.

Where have you lost sight of your bigger vision? Are you still trying to do entrepreneurship on your own? Are you where you want to be?

I invite you to keep the above quote in mind because we really can underestimate the power we have. Remember, slow and steady wins the race, and you will “get there” as long as you don’t give up.

Like I always say, “Be the Tortoise”!

If you feel like you are ready to join a team of supporters and receive one-on-one business coaching to help you reach your dreams, contact me today for a complimentary discovery session.

Schedule Your Discovery Call Today!
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Who Do You Want to BE?

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Business and Personal Goals

What do you do when you have big business and personal goals and an even bigger ambition, and you feel like you are always falling short?

As a Mother, I have struggled to find my identity as a Woman over the past year – to define my business and personal goals. Many Moms have had to take on additional roles in life. Many of us have had major interruptions in our careers-forcing us to work from home. Others have had to take on roles as teachers for our kids to continue learning from home. Some women have had their careers put to a complete halt. All of this change and uncertainty has killed our spirits, caused tremendous stress and a sense of hopelessness.

As the world starts to heal, it comes with newfound hope, but how do we deal with things when they don’t go our way? Here is something that I have found to help me get through challenging times.

Stay focused on who you want to BE.

What kind of person do you want to be? What do you want to be known for? In my work with female entrepreneurs, including myself, we focus on who do you want to be in your life? Your business is a natural extension of your life-at least most entrepreneurs are pursuing their dream or passion.

Consider that when you are connected to who you want to be in life, it gives you a filter to look through that helps direct what actions there are to take. Think about it. If you are being “sad”-there is a particular set of actions that will naturally occur for you to take. You might cry, sit on the couch and eat ice cream. But if you are being “courageous”-you might get yourself up and dry your eyes and go for a walk.

Business and Personal Goals

Most of the time, we don’t think we have a choice about who we get to be in life. Life just happens “to” us. In the book The Happiness Equation, author Neil Pasricha talks about a study conducted by the University of California which concluded that “10% of our happiness is what happens to us. So 90% of our happiness isn’t based on what’s happening in the world! It’s based on how we see the world.”

So since 90% of your happiness is based on how you see the world, maybe that tells us we should be paying attention to our views. Consider that the world isn’t just that you see it. Because, in fact, 90% of what we see is just our view!

I invite you to notice and create new ways of being in your life and business. What does that all really mean? Well, hang out with that question and just notice how much of your experiences is grounded in the 10% of the circumstances and how much of how you react is from the 90% of your view about what is happening.

Get interested in who you want to become. When you are grounded in who you truly are, the actions there are to take will occur naturally for you and will produce results beyond what you imagined.

If this conversation resinates with you schedule a complimentary consultation with me today or use my convenient contact form to reach out!

Schedule Your Discovery Call Today!
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Are You a Tortoise or a Hare?

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mind masters

When we start a new year, sometimes we get a false impression that a fresh start means a do-over. In some ways, it does, but in other ways, it can be a letdown. I used to be really bad at planning. Not because I was a bad planner, but because I would get so caught up in working “in” the business, I failed to slow down long enough and take time out to work “on” the business.

The is the curse of entrepreneurship. Most of us have to do EVERYTHING ourselves. We don’t have time to slow down or fear that we will miss out or lose business if we do slow down. Some of us tell ourselves, “we can’t stop”! But the truth is slowing down and making sure you are still heading in the direction you set for yourself is critical. We live in such a fast-paced world, it can be easy to get caught up in the “hustle”.

BUT “HUSTLING” IS NOT A SUSTAINABLE WAY TO RUN AND BUILD A SUCCESSFUL BUSINESS!!!

The hare never won the race because she went fast and wouldn’t stop to rest. While the hare finally stopped from exhaustion, the tortoise, in her slow and steady pace, passed up the hare EVERY TIME!!! Be the tortoise in the race called your business and your life! I would guess that you tend to overestimate what you can accomplish in a week. Just take a look at your impossible task list of to-dos. I would also guess that you underestimate what you can accomplish in three months. But wait, do you have a plan for how to achieve your goals for the next three months?

Did you have a plan you could follow these last couple of months of 2021? Or were you just hacking away at your to-dos and putting out the most urgent fires first? Most of us are not disciplined enough to stop and do this kind of planning on our own. That is why I have made it really easy for you!

I invite you to summon your inner tortoise and join us for my Quarterly Business Strategy Summit!

Learn More
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6 Steps to Determine How ’21 Will Go For You

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Mind Masters in You

There are a lot of things to consider about our business goals as we start a new year. Past challenges, new goals, what new tools to implement, what we will invest in…many uncertainties and some risky unknowns. 

Now is the time to become grounded in who and what we are about-regardless of what happens to us and our business. 

Step 1: What is your heart telling you? 

  • This is feeling based, no logic in this one yet but it comes later. 
  • Get clear on the direction your heart is telling you to go. 
  • You can do this by comparing levels of excitement. The more excited you feel
    the more in alignment you are with your desire. 

Step 2: Are you ready to stretch yourself? 

  • This also feeling based. 
  • Here you get in touch with the fear factor. 
  • The more scary it feels, the more outside of your comfort zone you will be. But stretching yourself too much is not good for you. 
  • Find the balance of fear and excitement that feels right to you. 
  • Keep the logic out right now and just focus on how the direction feels for you.

Step 3: Have you really made the decision to commit to your goals? 

  • This step is extremely important to determine if you will really go for where your heart is telling you to go. 
  • Reflect on what you are really “up to” in your life. 
  • Is it seriously stepping into your greatness? 
  • It is living safely and comfortably within your means? 
  • Is it going after the unknown no matter what the outcome? 
  • Make a decision about what you will commit to for the next 365 days and go in that direction.

Stage 4: Is it specific and measurable? 

  • Here is where you bring in logic 
  • The importance of making it specific and measurable is so your mind can go to work on how to make it happen. 
  • Don’t worry if you are not clear on how it will go. 
  • The “how” will resolve itself once you are clear on your commitment to “the what” and “by when”.

Step 5: Is there a fun factor? 

  • Without fun you will have a much more difficult time achieving what you want. 
  • Most people drop their goals within a short period of time without a fun factor. 
  • Focus on how you will do this while having a blast. 
  • The fun factor becomes easier to figure out the more your actions are aligned with what you heart is telling you and where your heart is telling you to go. 

Step 6:  Use Your Support Mechanism!

Whenever you are going after something outside your comfort zone, external support is crucial. If it is a goal you have wanted for some time and have not achieved before, this is a big one for you.

With external support you will be 100 times more likely to achieve it… 

Once you have your clarity, stretch, commitment, focus, fun factor and support all worked out and in place, then you are ready to hit the ground running for ’21.

And the cool thing about doing this is the more you put into this process, the more excited you will feel about your ’21.

Here is my challenge to you:

Take Action!

Find a quiet place outside your normal surroundings to contemplate these six steps for clarity on how 2021 is going to go for you. Make sure you will not be distracted by phones, people, computers or other outside things. 

Keep your plans visible, to make sure you will work on them consistently.

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