280 Unlocking Wealth Through Smart Time, Money & Energy Investment Strategies For Entrepreneurs

Entrepreneurship PodcastOnline Business PodcastMarketingInspired Living Podcast
Written By Kelsey Reidl

What type of wealth do you desire in your life? 

Learn the different types below.

What type of wealth do you desire in your life? 

Do you aspire to a wealth of riches, or an abundance in another form? Are you coveting the traditional monetary forms of success and affluence, or perhaps something else? What sort of wealth would you envision having in your life?

I've been asked recently about the Income Level of our Leap Mastermind Participants, and I wanted to address that this mastermind is about SO MUCH MORE than the pursuit of wealth.

 

In this episode, Kelsey chats about:

  • How to unlock wealth through smart time and energy investment strategies

  • Investing your time and money as an entrepreneur

  • Experiences over things

  • Why time is so precious

  • Prioritizing your energy, your health and wellbeing improves

To connect with Kelsey

 

Access the transcript for this episode:

  • You're listening to the visionary life podcast. I'm your host, Kelsey Reidl.

    Each week, I'll bring you conversations with the most visionary humans on this earth, in hopes that you'll be able to absorb their wisdom, avoid their failures and feel less alone on the roller coaster ride that is entrepreneurship.

    This season, I'll be chatting with creative thinkers, masterful marketers, brick and mortar shop owners, brand builders, and people just like you who have a story to share or a vision that inspires. If I can share one quick secret with you before we get into the episode. It's that we all have a little bit of visionary inside of us, you know, that spark that nudges us to pursue our full potential in this lifetime.

    But perhaps somewhere along the line, it got covered up, I'm here to tell you that it's never too late to explore that inner voice and access the brilliance deep down inside of you. It's in you, it's in all of us. Let's dive in.

    Hey, visionaries. Welcome back to a little mini episode, I want to talk about unlocking wealth through very smart time, money and energy investment strategies. This is catered towards entrepreneurs and non entrepreneurs, because I'm going to take a bit of an approach where I share how I'm investing my time, energy and money as a business owner. And also, I'll add in how I'm investing my time, money and energy. As a person who is living on this earth who does not work all of the time and does not want to work all of the time.

    Even though I feel like my work blends so beautifully with my life. But at the same time, it is important to make sure that you're getting out from behind the screen and investing our precious resources in a lot of other things besides the business.

    So I want to first start with a question and ask you have you ever considered what type of wealth you desire in your life?

    Do you aspire to a wealth of riches? Or do you aspire to an abundance of health? Do you aspire to have more time freedom and an abundance of time? Or like I said earlier, like is money maybe your biggest driver right now and that is totally okay, we are not ashamed to talk about the fact that having more financial resources can actually be such a tool to having more time and energy and health abundance.

    But I want to ask you what sort of wealth you would envision having in your life if you could wave a magic wand. And maybe that's a wealth of material possessions. But that also might be a wealth of internal growth or a wealth of evolution. And I have to admit something to you. I hadn't quite considered this question in a while. But something happened last week that really struck me. So I'll kind of rewind a bit. So right now my colleague, Emily Elliot and I are in the midst of interviewing and enrolling. For our brand new leap mastermind.

    This is a mastermind that is presented by myself and the visionary method, as well as Emily's community, she runs a community called the magnetic life. And Emily and I have come together, we've been working together for many months, and growing this beautiful business partnership.

    And we knew that there was a demand for a mastermind for women who are not only looking to grow their business, but who understand that there are so many other pillars of life that must be in balance, in order for the business to radically succeed. So we've actually already enrolled for a bunch of spaces in this mastermind. And if you are curious, just DM me on Instagram with the word mastermind. And I'll just send you more details. No strings attached, we can always chat about it.

    But we have this document that outlines what this mastermind is about. And yes, growing the business reaching for new income levels is huge. But there's also so many other pillars because we have parents inside of the mastermind who want time wealth with their kids. We have creatives inside of the mastermind who want energy wealth so that they can dream up their next creative project that will impact 1000s or millions of people.

    We have startup founders in the mastermind who desire a wealth of freedom by hiring more team members and by outsourcing. We have doctors inside of the mastermind who desire desire, more autonomy over their schedule and their ability to maybe get out of in person practice five days a week and start moving to an online care model.

    We have x corporate girls who desire it all they want time freedom, they want money freedom, they want energy freedom, because right now they're totally drained and energy lists inside of their corporate job. And they're building their side hustle right now, which is super admirable. And so it's been interesting because as we've been kind of behind the scenes promoting and enrolling and selecting people that we'd love to invite to the mastermind, we've had some inquiries from people asking us, what's the income level, which is totally fair, I've joined masterminds before where it said, You must be making at least six figures a year. So you kind of know immediately whether you're in the right place.

    But you'll notice that once you get inside those masterminds, there is a whole degree of maturity levels inside. And there are some people who they created a project and maybe they got lucky and hit 100k. But they haven't done the work. And they don't live admirable lives, because all they do is work. Or there are people who have gotten inside of there who have this incredible emotional maturity, and business maturity. But maybe they've already sold a company for a million dollars, and now they're starting their next one.

    So for them, it doesn't really make sense to be around other early six figure earners, because they've already done this before, and they've put in the ground work. And so to simply justifying, based on an income goal, it almost doesn't feel like enough, and it feels very surface level. So even though inside of our mastermind to go back to that we have a pretty good metric of what each member is earning. We also decided to leave that metric out of the equation. And Emily and I had many conversations about this, really trying to decide do we disclose that you must have already earned at least 50k and reoccurring revenue for multiple years in a row to get inside, because that would have been something that we feel could have attracted the right person.

    But the mastermind is not solely about the pursuit of financial wealth. And for people who that's the only metric they desire. We know there are other places on the internet, that they can go, they could hire a financial advisor, they can work with a group investment coaching program, they could hire a sales coach to just get them to close more deals using scripts, and maybe that would get them to their 20k 30k or 40k months quicker. But we decided that our elite mastermind is not that place. Because although we're going to talk about money, we're going to talk about investing, we're going to talk about increasing your prices, we're going to talk about why we want more wealth. We also want to make sure that there are conversations around the energy wealth, the decision, wealth, the freedom, wealth, the time wealth.

    And so that really did get me thinking like, do I want more financial wealth? Do I want more time while do I want more energy wealth? What is my focus right now? And how can I get ready to share that with the group that Emily and I are facilitating. And I'm going to dive deep onto each of those levels and actually share where I'm currently investing my time, energy and money as an entrepreneur. So I to give you a high level overview. I'm currently really, really, really trying to manage my energy wealth, because I'm seven years into business. And as a female entrepreneur, I've also learned a lot about the 28 day rhythm or however long your cycle lasts, that affects all of us as women, and how to work with it versus against it.

    For example, when a woman is ovulating, she generally shows up with more confidence, has more energy is more extroverted has a lot more bandwidth. And I feel that. So knowing that there are certain weeks of the month where I am, what I would call a high performer and I show up and do my best work. So this is oftentimes when I would want to be scheduling podcast interviews, speaking on stages, doing forward facing work, hosting webinars or master classes, and being in my power and not being afraid to stand up and get more visible.

    But then there are also weeks where I feel like I want to retreat. So this is a good time for more admin task, time when I can have the whole day free of calls and really learning to work with my body versus against it. And another topic that if you live

    Listen to the episode of the podcast with Geralyn power on working with the seasons of business, you would have heard that different seasons bring different energy levels, and that it's important to honor that the energy that we have as entrepreneurs in the winter is very different than what we have in the summer, for example. And I'm also thinking more about hiring a second team member. So I already have one team member that works as our program manager, and she does a lot of admin work for me, and she works quite a few hours each week.

    However, the next step is for hiring a content creator, somebody to help me with more content output, as my time is very, very limited in coaching my private clients.

    So anyways, I want to dive right into the pursuit of wealth in all areas of life give you an idea of where I am feeling very prosperous, and maybe where I am still working on building wealth. And let's get right into it. So let's start with money. No money one, this is always interesting, right? So where am I investing money as a business owner. So right now I have quite a few reoccurring expenses to run a business.

    And I would be happy to do a deep dive on this. But I think high level, it is important for you to note that in order to run a growing business, in order to run a business that is set up to double or triple or quadruple in the coming months, it is important to invest in software and tools and platforms that are going to make your life easier. And so I have quite a long list, I'll try to share most of them here.

    So number one, I invest in things like the Zoom software that allows me to have lots of recordings space in the cloud software. And that allows me to have conversations with my clients. I invest in Asana, which is a project management software that I manage all my private clients, I invest in my website, which is hosted on Squarespace, and that cost me a monthly fee. I invest in client gifts.

    So I like to send my client gifts and just little love packages, especially when they finish with me, I invest in branding. So that would be using things like Canva, hiring graphic designers or doing a brand photo shoot every so often, I invest in payment processors.

    So I use a software called moonclerk. And that helps me to collect reoccurring payments, I invest in artificial intelligence software, I use jasper.ai, I think it is the best tool. And I use it every single day not to do the work for me.

    But to be my second brain as a small team. I invest in Google ads every single month. And aside from that, where I am currently focused on investing even more money, number one, and really sorting out the best opportunity for my bookkeeping, my accounting, my taxes.

    So I do invest quite a bit of money in having a professional helped me with that. Like I mentioned, I do invest quite a bit of money in my team member who does so many amazing things for me. And I also am really focused in investing in my own learning, learning as a marketing professional right now.

    So I'm currently enrolled in a Google Ads course. And that's kind of where I'm focused on my continued education at this moment. I'm not in a formal mastermind right now. And I am very much a advocate for being part of paid masterminds, or even starting your own free mastermind.

    I have a informal mastermind with two of my girlfriends, Stephanie long and Krista, who you've probably heard on the podcast before, but I'm also always joining paid mastermind. So I'll join one a year generally. And although right now I'm not part of one, I'm very open to being pitched for one if it's the right fit.

    I also invest in conferences and workshops. So if something catches my eye, and I feel like I need to uplevel a skill, I will invest there.

    So that's a little bit about how I'm investing business wise, but also there is a whole other pillar which is how am I currently investing in my personal life. And I guess I'm using the term investments because I'm not going to talk about my investments. I do work with an investment advisor.

    These are more my expenses will say. So when I take a look at my personal expenditure, one thing definitely jumps out at me. And it's that I prioritize experiences over things.

    And I'm definitely an adventure seeker, someone who takes pleasure in encounters rather than accumulating objects. And when it comes to understanding how I've spent my money, or how I continue to spend my money, I think that exploring the world and investing in experiences has been far more rewarding for me than merely collecting objects, which is why I don't have the best clothes, or the most modern makeup or the most well designed home because that really doesn't enrich my soul.

    For me, it doesn't build character. For me, it doesn't help me to open my eyes to what this beautiful life is all about. experiences do that for me, though. So I look at how I've spent money in the last, let's say, 60 days, and it's been treating my dad to a really nice dinner for his birthday, or going to yoga class with friends, booking acupuncture, or naturopathic doctor appointments every Friday, or traveling right, we did a huge trip to Arizona to Sedona and we spent tons of money there. But that was enriching for us. I spend money on my sports and activities. I recently had a huge bill to fix my mountain bike, but that it to me is enriching. Because then I get to go ride.

    I spent money to go visit a friend in Toronto for her birthday, I spend a ton of money on healthy groceries and shopping at the health food store. So I don't have a lot of things like I don't even remember the last time I bought something off of Amazon because I'm the person who puts it in my cart. And then I go do I really need that? And the answer is always no.

    So there are things I actually do need, but I'm just such a, I don't know, I'm just very resistant to buy things because it brings me literally zero joy for the most part. So anyways, that's how I currently invest my money. Why don't we move on to time? How am I investing time? Oh my gosh, you guys do you feel like and I know everybody feels this way. Because we hear it all the time that the older you get, the faster the days go the weeks go the months go. Now I know there are weeks when maybe you're sick. And you're just like, oh my god this week is never going to end. But for the most part, and I find with my husband and I were always like, Oh my God, it's Thursday. It's Friday already, like, didn't we just have a beautiful weekend together and now we get to do it again.

    Time is so precious. And you know I I share this story all the time. But it losing my mom was like the biggest wake up I was already someone who was so present with life. But what transpired with my mom is that she was literally golfing on a Friday with her girlfriends. And on Sunday, she was essentially dying. And by Monday she was dead. Time is so precious. It's so precious because you're here now you have the ability to use your time wisely and to embrace life, or to do what you need to do to feel amazing. Be in two days from now three days from now you might not be here. And it's not like my mom was just this anomaly like this was just life, she got a life threatening infection that antibiotics couldn't fixed. And that was the end of it. Time is so precious. So in business, I'm really realizing this that my time is valuable. When I can outsource I need to outsource hiring the right people is vital. Because that's income generating for me

    and giving myself time to actually just think and pursue creative endeavors and to dream up the next course is only possible when you have time.

    And so a big focus of my time is actually on doing less. I know that sounds crazy, but seven years into business like I've been a doer I've done the 50 item long to do list every day, Monday to Friday. And now my time is more focused on relationship building. Like yesterday I drove an hour to go do a yoga class with a few entrepreneurs. Today I'm driving an hour the opposite direction to go meet my friend Steph and Guelph to meet up and to just talk and hang out. The me of five years ago never would have

    I'm not,

    I would have thought that was a waste of time. Why? Because I thought I had to be grinding at my computer. And honestly, I do think that it served me for the first many years. But the me of today, the entrepreneur of today knows that these connections, they're everything.

    That is how I need to spend my time, because only I can go out and do the relationship building and maintain the connections in my business. Almost everything else can be outsourced. And I think what's even more important than where I'm spending my time is where I don't spend my time and doing a time audit. If you guys have never done a time study before, DM me on Instagram with the word time study, and I'll send you a template for how you can do it. Essentially, it's tracking what you're doing every 15 minutes of your day, for four consecutive day days, and then coding everything in red, yellow, or green. And being like, this is a task only I can do and I love it. Red being this is a task I should not be doing or I just wasted three hours on tick tock. And so it's very glaringly obvious than where you're spending your time.

    And it'll call out where you shouldn't be spending your time. So for me, I'm very, very disciplined with my time for the most part, I have a Google calendar that would make some people want to rip their hair out.

    But I love to schedule things like walk with my dog, I love to schedule things like shower, I love to schedule, I need to drive from here to here, I'd love to schedule things like write a blog post, get your email marketing strategy together client call all the things I think that's very joyful for me to be very diligent about my time and to make sure that through the day, there's no wasted time.

    And like I said, I'm very, very much a proponent of knowing where I don't want to spend my time. So I don't spend any time worrying what other people are doing. I don't look at your business, I don't want to copy your business. I am. I'm interested in cheering you on. I'm not interested in scrolling what other people are doing or constantly comparing myself. I'm not interested in creeping other entrepreneurs and feeling bad about myself. I'm not interested in being distracted by a phone that is lighting up. So I have all notifications off. This helps me protect my time. And also to protect my energy big, big big time. Time is so precious you guys. Personally, I'm investing time in friendships. So I love meeting a friend for a workout class or doing something that is very Joy producing like going out for coffee on a Friday afternoon.

    Personally, I'm also spending time doing things that light me up, I love to trail build, I love to be involved in my local cycling community, I love to have quiet morning hours, or even just 10 minutes where I sit at the kitchen table with a coffee, I love to paddle down the river on a Friday night with my husband, I love to go biking with my friends. So I'm very good with my personal time and personal hobbies. Maybe that's a result of me not having kids yet.

    But I just love, love the time outside of work and trying to fit in all the many hobbies that I have. Okay, let's move on to energy. Because I told you at the beginning of this episode, I wanted to talk about how I invest my time, energy and money. So energy is the big one. I feel like, you know, I am a very energetic person. But I also go through seasons where my energy feels limited. And I want to be so clear about where I need to spend it. And sometimes, I don't know if you guys feel this way, but I will just look at a chore at 8pm. And I simply don't have the energy or yesterday I needed to reach out to a client to ask them about doing an upcoming training. And I just didn't have the energy. And that's because energy is finite. Like I said, some weeks you have it some weeks you don't.

    And we have to be so careful as business owners and as humans where we devote our energy. So something that we talk about inside of your 2023 leap. We have our Foundations program starting May 17. If you're interested you can just head to my website to learn more. But something we talk about in this program is how to manage energy drains and how to add in more energy givers because if you don't have a good pulse on where your energy is being spent, how your energy is being managed, you're probably not obtaining your full potential in this life or in this business. And becoming more self aware of where you get energy and where you leak energy is so important than this is not a skill that I feel we are taught

    And so that's why Emily and I teach it inside of your 2023 leap. So, at a very simple example, you know, if the news drains you turn it off, if doing your bookkeeping drains, you hire it out. If client calls give you energy, keep them. If designing graphics on Canva gives you energy do that. And of course, there are tasks that we can't outsource yet or don't feel ready yet. But if that's the case, then you need to ask yourself, How do I bring energy? How do I make this easy, it's very much boiling down to mindset and the resistance that you either have or don't have towards the task. And I think this is one of the huge benefits of what Emily teaches. She is the master of alchemy, rising energy and using it to your advantage. So that's such a big one. And for me, when I prioritize my energy, my health really, really improves, right. And I just know that every time I invest my energy into things that bring me joy, it's like my whole physiology changes every time I invest in the betterment of my physical vessel, my mental capacity, my spiritual connection. It's like my energy quantumly leaps.

    And so we cannot avoid this topic. Yes, financial wealth is important. Yes, time well, there's something everybody talks about want time, freedom, time, freedom, time, freedom. But you also want energetic wealth. You also want to have the motivation, desire, energy zest, to do all that you want to do in a day, to be so present in your interactions to be so open to life. Because if you don't have that, but you have all the money in the world, I don't think that you're living a good life, at least not one that I envy. And you guys, these three pillars. Wow. They're stuff that we're all working on all the time. And like I said earlier, this is why Emily and I started the LEAP mastermind, this is why we're merging communities, because we're bringing together a group of 16 women who who get it. And they don't need to be convinced that time and energy and money and the pursuit of wealth in all areas is important. They just know. They just know that this is exactly what our life's work is. And the business is just one vessel. But there are so many other things that are going to lead us to a life of prosperity. And to be that human that just radiates. I'm confident in who I am, what I do, and I'm in complete control. I can say yes to things, I can say no to things, I can easily avoid the things that drain my energy. I have curated my schedule, so that I look at seven days of appointments of commitments, and every single one of them hits me with a hell yeah.

    That's important work. It really, really is. So we're excited to do this with you. Again, if you are interested, we're not exactly promoting this publicly. But if you are a woman who is either a coach or a consultant, or a health professional, or a online business owner, and you want to be around other women who are in the pursuit of wealth in all areas of their life, who are going to be making some big leaps, we would love to invite you to the mastermind. If you're not quite ready for the mastermind, you can join our leaps Foundation program. And the best spot to learn about all of this is on my website, Kelsey rydell.com. I cannot wait to see you there inside of one of these programs. And if you're just not sure where to begin best spot is to just fill out an application on my website. You and I can chat and just see where you're at. Right. Let's connect. As I mentioned, I'm all about relationship building right now. So please don't hesitate to reach out and say hello. All right, this episode went a little longer than I thought. Thanks for tuning in. And I will see you guys next week. Hey visionaries. I wanted to interrupt this episode to actually share a pretty alarming statistic. So research actually shows that women led businesses fail more often than our male counterparts. Oftentimes, that's because we don't have the necessary support the predictable lifestyles and sometimes it's because we try to do it all and be at all when in reality life

    Sometimes has other plans Has that ever happened to you? Well, that's why Emily and I are putting together the LEAP mastermind. This is a weekly mastermind that provides ongoing support as you grow and maintain your successful business. And we're putting together a group of 16 women who are ready to grow in a group and a community. It's all about being around the right people, making new friends, finding new business partners who understand your challenges with running a business, and building an epic life filled with freedom and joy and your version of balance.

    So what we're going to offer is guidance and expertise and accountability between Emily and I, we have coached 1000s of women like you to not only drive more revenue into the business, but to adopt the right mindset to create whatever business and lifestyle you desire.

    We give you the space to dream, we give you the strategies to implement. And most of all, we give you 15 other women who are going to support you and who are going to make you feel way less alone on this journey. Now, right now, we are not selling this publicly. So the only way to get more info, the only way to get more details is to either send me an email Hello at Kelsey rydel.com. Just say the word mastermind. Or you can just quickly find me on Instagram at Kelsey Rydell. Send me a DM with the word mastermind. It is going to be a truly incredible space. We're going to meet every single Wednesday, and we really can't wait to kick off and get things started as of beginning of May. So honestly, I mean, this is the mastermind that I've always wanted to be a part of. I've invested over $100,000 in masterminds before. And I've really learned what works, what doesn't, what we need in order to succeed and I can't wait to spill all the beans.

    So between Emily and I, she's a mindset coach. I'm a marketing coach. We have all the tools that they really don't teach you in school. You're so skilled at what you do. But did you ever really learn how to sell how to promote your services, how to embody the physiology of success, that's going to gift you with six figure seven figure maybe eight figure salaries down the line. So that's it, send me a DM on Instagram at Kelsey Rydell or email me hello at Kelsey rydel.com. We are not promoting this publicly. So this is the only way to slide in.

    Thanks for tuning in to this episode of visionary life. I love bringing you these conversations on a weekly basis. So it would mean so much to me. If you could help me out by rating and reviewing the show on either iTunes or Spotify. It just takes a second. And if you don't want to rate the show, you could also just take a screenshot of the episode and share it on your social media platform of choice tagging me at Kelsey Reidl. I'll catch you in the next episode.

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