I want you to start to sit with your story of where does your self-worth when it comes to your financial gains, where do those stories stem from so you can truly define where you want to take it and who you need to be to show up in that. This is your Badass Drenny podcast. I am Kereen Walsh, serial entrepreneur, growth strategist, executive leadership coach, and best-selling author. Each week I will bring you a guest or thought that will help you align what you love with what you do in order to build that bad-ass life and business you dream of.
Welcome everybody. To another episode of your Badass Drenny podcast, I am sitting in thoughts around self-worth based on the conversations that I had with founders from Camp Joy. If you listened to the last episode, you heard from Alana and Katherine who are the founders of Camp Joy going through a transition in actually how to stand in their self-worth because they're new to entrepreneurship. They are bringing stories from their past occupation and trying to navigate, well, what should this revenue, income, earnings, story B, becoming an entrepreneur.
Now, I know that they are not the first to be questioning this or even just considering like how do I value what I bring to the table. And you know, I've shared my journey through writing my book, Be a Badass, on how I was very career-driven and kind of money-driven from an income standpoint because I wanted it to be freedom for me. Learning gives us freedom, right? It gives us the freedom to choose how we live, where we live, allows us to invest in ourselves in different ways.
And in each year based on my earnings, I would figure out how to invest in myself. And every time I invested myself, it increased myself worth because now I had something else to offer others and either monetize what I learned or just grew me from the inside out so I could just be better at what I was doing and demand what I believed my time and energy was worth when it required me to show up in someone else's business or leading my own. So since that was a topic of last week, I thought I would dive into it a little bit more in this conversation with you. And in case you haven't heard that episode yet, I'm just going to share a quick clip with you right here right now.
So you can hear how we started to navigate the discovery of your own self-worth and how it worked for Alana and Catherine to start thinking about. And then I'll jump right in after you hear this segment and give you a few more tips and tricks on different models to use in order to really outline your worth and what to go after in order to achieve it. So let's jump into the segment from the last episode and then I will see you on the other side. Something that having as you said a history with you in my life for so many years and some and a reason why Catherine and I wanted to work with you is because every time I have a conversation with you whether it be about a social encounter or theater or this new business plan and everything, I feel that I walk away knowing that I need to invest further in my personal worth and something that's really difficult for Catherine and I is that we are coming from a field of theater where we are not valued as you know 30 something in the field.
We do not have huge bank accounts. We are not like in you know invincible or anything like that. So I'm just curious what are ways in which you think that we can as on a personal level and also strategically like on a camp joy level come together and figure out how to measure our worth or like make a measuring or a metric or like a value system for personal worth. Sure.
When it comes to first of all as founders of your business, you are the creator and designer of the business initially. And then eventually you think about what would it be if I just own this business in order to generate income revenue, et cetera from it, how can I own it? So there's different language I think from a money mindset standpoint, this is the question I'm hearing around how do I evaluate my worth in my business or what I'm creating? And when you come from a history of being undervalued because the system of theater and acting and unless you're like a pop star right and you have some agent that's booking you multi-million dollar contracts which is a really small percentage of true entertainment and what the fees are that are paid to people with that skill set.
It's in my mind a broken system when it comes to being paid what you're worth. So what's really awesome about building and launching your company is that you get to determine the worth and value system not only for yourselves as owners and leaders of the business but also for anyone that eventually joins your team as you expand to more and you're going to have to learn what does that look like? Like what's the competitive advantage in the world based on where we are going to be as a level of earnings in our company to compensate ourselves. And what I would bring it though back to each of you as an individual it's almost like well what do you need to earn in order to feel as though this business is a success and because you might not have had languages around your earning potential because of the industry you were in then this is the next wave of education you guys are going to have to put yourself in.
So when we were on our last call together and I shared with you like how I value my time and my business and how it helps me prioritize the decisions I make on where I spend my time and who I say yes to like what projects I say yes to and where does that come in my prioritization order. I have to do evaluation on okay how much is my time worth to my company. So in general annually my business and all my different revenue streams I'm basically at that 1.2 million 1.5 million in earnings is my target each year of revenue that I want to bring into my business that is not my personal income annually. So everybody can help me.
I'll tell you though if I wanted to earn that annually I definitely could. I choose to I definitely could because I don't believe in any limits on my earnings. That's that is where my money mindset is. However my choice on where I want to spend my time how I want to spend my time and the construct of my business.
So I'll give you the model that I work within. So I have a target of earning my goal each year is to try to earn a little bit more in my company so that I can expand my impact like that's my model because I know that if I think past myself and only my income and I think about revenue for my business to provide more jobs for my team but also more impact with my clients then I'm thinking more expansively on the potential revenue draw into my business. So with that 1.5 million let's say that's the target then for me I need to decide what does my income need to be for me to have the lifestyle I want the time freedom that I enjoy and also continue to invest in myself each year to up level into the next version of myself. Like those are the factors when I think about the amount of income that I need to sustain my life in the way that I choose to design it.
So I would say that range somewhere between 350 to 450,000 a year. I can leverage for investing back into myself my lifestyle my home etc. If I choose to the rest of the revenue goes into investing in my team making sure they're getting paid and the marketing the growth of the business whatever channels that that is. So for me let's say my income is at that level however I'm not just selling my time for money and when you have a service based business you're pretty much selling your time for money until you actually create programs that can sell themselves or have team members that you're selling their time for money.
So one of the things we talked about for camp joy for example is that eventually you're gonna have so much demand you're gonna have to build and train counselors joy counselors, joy camp counselors to come in and facilitate for you because you're gonna reach capacity based on all the demand and when you do that you're now selling other people's time for revenue that then feeds your pockets to for income as well as building out what you need to do next for your business. So when you kind of know those numbers then you also say well what's the cost to my business when I say yes to certain things that are not initial revenue drivers right so I know a whole new language and we can dive into it also separately in a in a session but I I want to give you some of the language because if I'm at 1.5 million earnings for my company and I'm the lead salesperson to hit that for my company regardless if it's income for me or not I am a cost to the business when I'm not doing income driving activities. It's why I'm actually sitting on more of a probably like a three million dollar business was because I'm still in the doing at times where I'm trading my time for money versus just selling and focusing on the sales and the growth of the business and having a team execute against that that is less expensive to my business than I am. Does that make sense?
Totally. So when you're defining your worth it's really about what are your goals what do you want to target and hit and then you you manage your revenue streams against those targets and then as entrepreneurs you have to pay yourselves. You have to know that your effort has a return and I know that now at this point because you're just starting out you're you're still in the earning mode so it's hard to feel like you could pay yourself and even if you get investment to continue to build and expand it you still need to come up with numbers to pay yourself because you need to get into the habit of earning for your output in order to keep going and growing even if it's a fourth of what you initially want to earn but knowing those numbers matter because it's going to help you prioritize the decisions you make it's also going to help you realize who you need to hire in order to allow you to build the company to that but then also just standing in your worth you know like you are you are both worth whatever you choose you want to make and if you need permission to step into that worth I'm giving it to you right now because only you can determine your worth and the problem is you are in a system that determines your worth for you which is why it's difficult to think in this way but now that you're owners of your own business your owners of your own revenue stream you are allowed to decide what your worth is right now based on what you are building and the return that you're going to get from building it and only you can determine that together like it is not about anybody else to tell you what you're worth that's when you're an employee you guys are owners of your own business when you're an employee and someone else's business they are determining your worth when you're an entrepreneur running your own business you are the ones setting the tone for your worth and sky's the limit in that regard so I guess yes yes exactly yes I just get so Karim when you when you talk about our worth it gets us get me get to be so excited because it also just like you're saying we have not the system it was broken and I feel like we are restructuring our minds and our hearts and our ability to be limitless and that's the thing yeah yeah you get the design I love that and if that's what you walk away with from from today's talk that that brings me joy because I know it was the hardest one of the I fortunately learned it very young because I hit limits really young and I knew I had a stronger self-worth um within me that no system was going to stop me from the earnings that I deserve and I was very fortunate so I love that you guys are asking the question to build a deeper connection with your self-worth because you'll now then show anybody you work with like how you feel up in the world is reflected in everyone you surround yourself with you and they need that lesson also so I'm happy to be able to have these discussions with you and I know listeners listening to this needed to hear this today so it was like amazing to ask the question because we are always stuck in a system where we're just broomed unfortunately from a young age to believe in the limitations other people put upon us until we choose to challenge them yeah and this you're now at the stage where you get to define your worth within your own business which is so freaking powerful so embrace it you're working on yeah yeah it's so valuable to both of us to have a female like advisor telling us these things like we just love you so much did you get any aha moments from that segment seriously it is something that you are not alone in if you are questioning each stage and I shared a little bit about how I had to change my own mindset to grow my business in order to actually create more earnings for my team and my company I also had to be really true with myself on what do I need to earn in order to have the life that I truly desire because you know we know we need to earn in order to live in this world and I'm sure if you're someone who loves to live off the grid you're not even listening to this episode so those of you who are listening are always trying to better yourselves right like you you come into my arena because you know I'm all about that growth and when it's a growth spurt around income and earnings you have to know your numbers you have to know why you are doing it yes and where you're passionate but also what would happen if you were to hit certain numbers in order to do that next thing to plan for whatever is next so I go through this a lot in my coaching sessions with my clients and obviously you just heard the dialogue with Alana and Katherine and here's the deal it is all subjective it is and it is all a representation of what you truly believe about yourself and what you want to accomplish for yourself so if you think about your money story to date and where you're sitting in your earnings are you satisfied with what you're earning and what it provides you that's question number one if the answer is no I am not satisfied well what does it need to be in order for you to feel fulfilled and also accomplished in what you are going after for yourself only you can define that the problem I had back at the beginning of my career was that other people were trying to define my level of success and I fell into that trap because that's how we were trained to think and believe that's how we became employees of other people's companies that's how we went on a track to always go after more or sometimes have the energy and wait wait to see if someone's going to recognize my value oh my god guys if you're waiting for someone else to recognize or value before you ask for what you're worth please please stop please stop please look at yourself right now and say I am worth the earnings and my financial potential that I set up for myself I am worth it because if you are waiting I guarantee it will not come to you in the way that you desire because you are not asking for it you are not telling people that is what you are targeting to do you are not showing yourself what you need to step into to go and earn that who do you need to be to go and earn that that's question number two it's like once you realize there's a gap from where you are and where you want to be well who do you need to be to go and achieve it what you need to know what you need to learn what you need to be able to provide what are the qualifications in order to earn that amount now here's the thing between a feminine mindset and a masculine mindset the masculine mindset will say I deserve that right now and the ego is running things and they'll go after it before even knowing and feeling like they're qualified they just know that they will do it once they receive it if they receive that earnings and they'll figure it out as they go for the feminine mindset we believe and we have been trained to wait and make sure we know make sure we've tried it out and prove it before we ask for it and I like to live somewhere in between in the middle integrated between the two where it's like I have proven skill sets I also see the trajectory of where I'm trying to go and I know I will hit it so I would like to be I would like to make sure I'm compensated for the results you're going to get from the future version of me because I know how hard I'm going to work and how willing I am to make that happen so that might be a little stretch for some of you who are just joining me in this conversation today but I want you to start to sit with your story of where it does your self worth when it comes to your financial gains where do those stories stem from so you can truly define where you want to take it and who you need to be to show up in that now if you don't know if you're totally blank and you're listening to this and you're like hearing how the hell do I figure this out well luckily I have an exercise for you that you can go and leverage if you go to karimos.com slash resources you'll see on that page there's an exercise called quantifying your vision you know I talk about division work all the time if you've been with me for a while you've gone through the strategic life planning workbook and the exercises and the podcast episodes associated with that while quantifying your vision is like the next step to really create the tangible way of assessing what you need to earn in order to create the vision life that you desire so for example I wanted to have a home in a certain town that looked a certain way where I drove a certain car and I had access to certain luxuries or restaurants or where I would shop like I had that vision right we go through the vision exercise to think without limitation what does that look like well now that you map that out it can feel so far away if we don't quantify what that really means to make that happen so when you think of that house you think of that car you think of the lifestyle you have you think of the places you go to eat how much do you need to earn to sustain that lifestyle we need to quantify it so this exercise helps you really get clear on what your vision is but also how to quantify those tangible things and even if it's like ceo of ex-company well you still need to quantify what is the earning potential of cios of that industry and what are the qualifications that help you quantify making that happen because without the end goal without that destination you're trying to hit in the clarity on that destination to figure out who you need to be to make that happen it's going to create that inner turmoil when you make decisions that are not aligned with that vision and it's going to confuse you to be like well I worked so hard but how come I'm not making anything how come the earnings aren't coming in with all this hard work when you quantify your vision and align it with your self-worth and then find the voice and the way to go ask for what you want or make it happen in the arenas that you choose to go and play within the past becomes so much clearer and the less uneasy you are around the transformation and change you're going through so go grab that exercise quantify your vision it's at the careenewalls.com slash resources page and take a stab at it check it out if you're sitting with unease around your self-worth and how to go into a new arena and make sure you are transitioning your skill set into that new arena to figure out what you could earn don't undersell yourself figure out what is sellable about you what is worthy about you and then where you're going to be learning to grow into that role to prove to yourself that you are worthy that's what this is all about so I hope today's episode helped you I know a lot of us are sitting in uncertainty around our careers our businesses where earnings will come from but unless you're clear on it you won't see the path to go and make it happen for yourself regardless around what's happening in the world you are 100 capable of the creating the life you truly desire right here right now thank you for letting me be part of your badass journey today and of course I'd love to hear from you if you have aha moments questions anything that's relating to this topic do not hesitate snap a picture of the episode post it on insta let me know what you took away or post it on linkedin let me know what you took away or let me know what question you have and let's dialogue on it I'm always walking alongside you and I will see you in the next episode wasn't that such a great episode I know you got amazing takeaways from that what I would love for you to do for me if you can help me extend my reach just go ahead and subscribe to the show so you get the latest notification and listen before anyone else also if you could go ahead and post your review your five star review will help me get other people interested in this conversation and extend my reach of impact most of all I would love for you to share this with your community it means so much to me to have you as a listener and I would love to connect with you so if you have any questions you'd like me to answer on the show go ahead and email hello at karaonkwalsh.com and my team will make sure that I get your question so we can get them answered on the show for you thank you so much for listening today and I'll see you on the next episode