Becoming Debt-Free Millionaires: Part II

Written by on September 29, 2020

Becoming Debt-Free Millionaires: Part II

This is the second installment documenting our journey to becoming debt-free millionaires.  This is a big goal that my husband Mike and I have set for our lives.  In sharing our journey we hope to inspire you to make similar radical change in your life to live in total joy, bliss, and make life everything you’d hoped it would be.

A major part of our success has been leveraging the principles of the Law of Attraction.  Throughout this series, you’ll learn lessons about how you can apply these same principles to transform your life and manifest your deepest desires.

How we Rescued Ourselves from an Economic Crisis

As you read in Part I of this series, Mike and I were in a really difficult financial position in early 2020.

The COVID-19 pandemic took our income from $60K+ per year to $0 in one fell swoop. On top of that, we were over $100K in debt.

Our financial issues started long before the pandemic, but this was the event that made our desperation feel real. I won’t rehash the whole story here (hence the idea behind the series), so you can read how we found ourselves in the mess in Part I.

The reality was that we needed to figure out a way to make money – and FAST.

I had been working on building an online business for several years, without much success. I’m proud to say, the lack of success mainly came as a result of learning more about myself and what I really wanted my business to be in my life, as opposed to a lack of strategy or commitment.

We decided this would be the time to go full throttle on taking my business full time.

How NOT to Build a Creative Business

Spoiler alert: this attempt was a massive failure.

I planned a huge launch of a brand new program that, in hindsight, I can see two main problems with:

  • The program I had designed had not truly been vetted by beta testers, and I didn’t have an email list that was primed to buy from me.
  • More importantly, I was expecting that this launch would be the thing to save us from our financial mess.

Big mistake.

Let’s deal with the first problem first.  I did run a sort-of test run for the program.  Really more than a structured program, I offered free coaching in exchange for some testimonials. Overall I’d say it was a good experience, although the response from my freebie clients was minimal.  Mainly, it gave me the confidence to know that I had plenty of ideas and value to offer people.

But this wasn’t really the main issue.

When I did decide to go ahead with the launch, I built my email list using paid ads.  I had an email list of 200 before this point, but I wanted to grow it to increase the chances of higher sales in my launch.  Honestly, my ad campaign ran spectacularly.  I grew my list from 200 to over 1000 in just 3 weeks, and filled a Facebook group that was thriving with excitement for the launch.

By this point, I was feeling confident that my launch would go off without a hitch, and that I would make the $90,000 I wanted to make to 1) pay off all my debt, and 2) make me feel like a legit business owner.  And THAT’s where my main problem lied.

My entire identity as an entrepreneur was built off of this success or the failure of this launch.  And to my surprise (at the time), the launch flopped completely.  Of the $90,000 I could have possibly made, I made $0. And because my whole self-worth was wrapped up in this launch, that mean my self-worth was $0.

Business Lesson

There’s one main reason why this launch flopped.  It is simply because I hadn’t built and truly nurtured a relationship with my email list.  I was able to provide them something they were seeking and help solve a problem for this new audience, but that was not enough.  I didn’t have the know-like-trust factor built enough yet with these people to drive real sales.  Sales are made off of relationships, and I didn’t have any yet.

Law of Attraction Lesson

Talk about low frequencies everywhere! It’s obviously an issue that my self-worth was tied up with this launch.  But on a deeper level, it’s easy for me to see that I attracted the exact match of the energy I was putting out.  My entire drive behind this launch was FEAR: fear that I’m not enough, fear that I’d never be able to have a successful business, fear that I’d be in debt forever…I could go on an on.

This was a huge lesson for me in learning that we attract the things we focus on.  I was focused entirely on fear, and what I got in return I did not like at all.

 


Want to turn your deepest desires into your reality?

Grab my 6-Step Manifestation Method Guide to dramatically change your life.

 


 

How to Repair Your Confidence after a Magnificently Huge Flop

This flop was a pretty huge blow to my confidence.  It’s not that I thought I didn’t have any value to offer anyone, but more so, that I felt like my circumstances would define me forever – and that felt really crappy.  I had been working toward building an online business for two years.  Tons of hard work and heart that felt like it was amounting to nothing.  I felt stuck, discouraged, and for the first time since this journey, I felt like I should just give up.

I took a few weeks to slow down and reflect.  I majorly pulled back on social media.  Mainly, I took some time to think about what I wanted my life to look like, what I wanted my business to represent for me, and how it would play a role in my life.

So I went back to basics and started formulating a plan to use my innate gifts (music & singing) + leveraging relationships in my current network (remember from before when I mentioned that business is all about relationships?).

Here’s what I decided to do:  I would build a music studio where I’d teach voice and piano lessons to clients.  As luck would have it, I already had 3 students, it’s just that I hadn’t really treated it like a serious business.  I knew I wasn’t charging enough, and I knew that I wasn’t protecting my time with good policies.  And the even crazier thing was, I already had a list of nearly 100 leads I could leverage to attract some new students. I knew I needed to make some changes.

Within one month, I signed on 8 new students – this meant several thousand dollars in revenue basically overnight.  I updated my policies so that I got paid upfront each month.  I instituted cancellation and rescheduling policies to protect my time, and to train my clients what’s expected of them.  Even more amazingly, by the second month of operation, I got paid by all of my clients within the 7 days of the month.  Talk about a transformation.

And now, Mike and I are on track to make the most money we’ve ever made before in one month. Our goal is to break $10,000 in October!

Law of Attraction Lesson

Without even knowing it, I was blocking the abundance that right in front of my face. Once I removed my own blocks, it became easy to leveraging the gifts I already had, and turn it into the abundance I’d hoped for for years.  All I had to do was allow myself to receive the abundance that was already available and waiting for me.  It seemed like the obvious choice right – starting a music studio?  Yep! It was.  And for years I’d blocked out the idea because I convinced myself it wouldn’t be worth it.  But now, I finally decided I was ready to claim what was already there for me, and it was absolutely worth it.

What’s Next?

Well, the story definitely not over yet.  We’ve got a ways to go on our debt-payoff, but we have a big reveal about it for Part III of this series!  Stay tuned.

 

Much love 💕,

Katie

 


Want to turn your deepest desires into your reality?

Grab my 6-Step Manifestation Method Guide to dramatically change your life.

 



Comments

Leave a Reply

Your email address will not be published. Required fields are marked *