13: Christine Hansen: Investing and making money

One of my best tips for growth is to surround yourself with people who inspire you and who energize you.

For me, one of these people is, hands down, Christine Hansen, aka theSleep Boss.

Christine is a sleep expert who helps high achievers like CEOs, top performing entrepreneurs and athletes sleep a minimum of seven hours straight within weeks and sometimes even days. Now, she is not just an expert at what she does, she’s an absolute business powerhouse with how she has built her company, and we are diving in today all about investments. How do you decide if something has a good ROI return on investment for you? Where should your money be going? And I think some of what we talked about with earning and spending money, especially in the early stages of your business may surprise you.

When she started her life as an entrepreneur, Christine had no clue what money really was. At that time, she was used to a regular income and she had enough in savings, and soon she realized that she was financially illiterate. She based her pricing on comparing herself to others, on what she was reading on other people’s sales pages, looking at the competition and what they were doing, but in the end, she had no clue what she actually needed in order to be financially independent as a person. So, she used everything that was left in her savings and she hired a financial coach.
She realized the difference between what you have in your bank account versus cash flow, meaning that they are actually two completely different things. One of the first things the financial coach had her do was to write down all of their expenses, not just the monthly ones but also the yearly ones.
She soon realized that what you have in your bank account doesn’t reflect how much “play money” you actually have, how much you have to spend. That was an eye-opening moment for her. It was a lot of work to keep track of it, but it was the pivoting point that allowed her to charge accordingly.
She raised her pricing from the same package from $800 to $7000 within a day, because it finally clicked and she knew that she needed to make this, this is her job, she spent years of education, years of training and she had the know-how, she had the skill nobody else had, she needed to do this and she wanted to do this. 

“I did the mistake of charging too much too quickly, which was nowhere near where I’m charging now but i felt it was disaster because i was not confident enough, I couldn’t deliver and it totally ruined my self confidence.”

– Christine Hansen

One of the biggest lies that we are told, according to Christine, is that you need to finish what you started. Figuring out that that sentence is not true is very liberating because it just gives you the permission to actually stop and evaluate and say – This is not going anywhere, let’s pivot. And then you pivot. And it’s brave, it’s brave to try stuff and how are you supposed to know if you don’t try. It’s smart. It’s the way you need to do business, it’s the way you will find the thing that sticks. But you need to know that you might need to do it more often than you think and that you need breathing space and that you need financial resources in order to play, and to try. Because when you’re in a mindset of desperation, your offer is just not going to sell because people sense that, it’s in the words that you use, it’s in how you create marketing copy around it, and people can sense that. You need to learn to let go when things are not working because you don’t always have to finish what you started.

When it comes to investing in your business, you need to be clear on what you need, be clear on your niche. How do you get that clarity? You just have to experience different things, try things out, and realize- Here’s what I need and here’s what I don’t. Some of your investment will be bad, and some will be great, some will change your life.

Crunch your numbers to actually know how much you need. If you don’t know that, the rest doesn’t have tangible validity. So, face your numbers. Make a list of all the expenses that you know, take out that folder, which you hopefully have, with all the receipts of last year and see what you’ve forgotten. If you need any help with this, you can check out Christine’s financial coach Amber Dugger, who has a lot of free resources.

Love + Magic,

Maggie