Stacy Tuschl is a speaker, business coach, and the owner of The Academy of Performing Arts in Wisconsin. She is the author of the book “Is Your Business Worth Saving?” where she reveals proven strategies for pulling entrepreneurs out of a rut and launching them toward business success.
For those who have been following my journey as an entrepreneur, you know by now that I highly value and prioritize being a part of a mastermind. I am currently a member of James Wedmore’s mastermind and to say I have learned some life lessons during this time is an understatement. It’s pretty crazy what can happen when you surround yourself with other like-minded entrepreneurs who are looking to live their best life. Although we still have a little over 6 months left in our mastermind, here are 5 life changing lessons I’ve learned so far:
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Before I met James, I was launched focus. I was bringing in some impressive numbers but they were all launch to launch. James really helped me see the value of bringing in passive income and I had an interesting ah-ha moment when I told him I needed to bring in around $20k/month passive income so I wasn’t always feeling the stress of our expenses in between our launches. Now I know if you are looking at that number and thinking you would love even just a quarter of that, trust me I get it and I was at that point too at one time. However, as I grow my team my expenses continue to rise and I need to make sure I can comfortably cover those expenses. You will be there too! I know it. I always have high priced products and James reminded me there is not only 1 way to bring in that income. It is truly a numbers game and it could be done with a smaller priced product at $97. Let’s do the math and see your options. You might go as high as $1997 and that’s fine, but don’t get stuck in one mindset just because you have always done it or seen it one way.
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Be who you are. I heard so many times, and from so many people that I am so “guarded.” I would hear questions and comments like: “Why do you have walls up?” or “Let people in more” or “Share more emotional, negative stories. It seems you are always so upbeat and full of energy, but we need to see more vulnerability.” After hearing all of these remarks, I was truly starting to believe that this was a huge weakness. James explained that my Myers Briggs personality is an ENTJ, and I tend to not be as emotional, which is expected from this personality type. So, it’s not that I have walls up, but I don’t waste time on things I don’t think are as important, and I focus more on the positive. This specific conversation took place after one of our mastermind events was over and it was such a great conversation, one of my highlights of the entire weekend. It was like he gave me permission to be myself, and for that, I will forever be thankful! ( I will note that knowing your Myers Briggs is important. As I was reading through all of my strengths and weaknesses it helped me understand myself better and recognize where I need to hire out my weaknesses. it also helps me become better at my weaknesses because I am more self-aware).
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Think bigger… no really, bigger than that! We get stuck too much in the “realistic” world, that we tend to not dream big enough. However, don’t go completely opposite of that spectrum and just shout out crazy numbers without doing this exercise. For example, we usually look up at Mt. Everest and think ok here we go, let’s climb this! Instead, James says to pretend that you are already on the top and look down at yourself. Begin to visualize what you had to do to get there. This is where you will see how much you will up-level, because as James says, “What got you here, won’t get you there.” it is almost always time to up-level!
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Put an end to the hustle. You don’t need to hustle 24 hours a day, 7 days a week. You can have a million dollar business and actually enjoy life… and yes, I am still working on this one. I fully believe it’s true, but just for a bit of transparency, I do struggle with getting my brain to shut off. Before working with James, I was still saying yes to everything. My schedule was jammed packed with traveling, speaking engagements, live events, etc. because I had a severe case of FOMO (fear of missing out) and not being able to attend something everyone will be at. However, the past few months I have really made a conscious effort to slow down my travel and make smarter decisions.
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Don’t decide what your clients can afford. This was something that James told someone else in the group on our calls, and I will never forget it. We were talking about pricing and someone said, “I couldn’t charge that much because my people can’t afford that.” James responded with, “How dare you decide what someone else can afford, decide on what they believe they should invest in themselves. We invest that kind of money all the time and someone out there will see the value and the return on investment.” That was a huge takeaway for me because I have said that same statement before. I think sometimes we always think our situation is more unique and we are the exception to the rule, however, there are so many people out there just like you that know they need to invest. They can and will see the value of your product, program or service and charge a lower price just because you think they need a price break versus charging what is worth is never the way to go.
So I think it’s safe to say, even after just writing this, that I have learned so many great life lessons from James Wedmore! I hope you can grasp these lessons and use them for yourself because they will serve you very well in both business and life. In case you missed my live video training where I share all of these life lessons and more, make sure to watch it here.
Oh, and in addition to the live training, I have something else to share with you! Have you downloaded my ACE Framework yet? This PDF reveals everything you need to know about having an authentic, authoritative and profitable social media presence…that experts charge thousands of dollars to tell you. Make sure to grab it. Just click the FREE Download below.
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