3 Money Management Secrets For Entrepreneurs

3 Money Management Secrets For Entrepreneurs

Except, if you’re like most of us, you went into business all excited about your offering and expected the money to just start flowing.

Maybe you injected some personal cash and had savings to live off while you built your business.

The plan was to then have your business start making lots of money and fund a lifestyle that’s so much more ABUNDANT lifestyle than the one you had before, right?

But the thing is… Without any real plan of what that transition is going to look like, you can get yourself stuck in no man’s land.

A place where it feels like you’re constantly throwing money at your business and not being able to pay yourself – let alone enjoy that abundant lifestyle.

It’s stressful and frustrating and it sucks.. and I’ve been there too.

So in this episode, I’ll share 3 things every business owner really needs to know – ideally BEFORE they start – to ensure your business starts paying you as quickly as possible.
(so you can enjoy that abundant lifestyle & sing the song of sweet freedom ASAP)

 

 

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A quick personal story:
When I first started my finance business, I was a broke single mom. So the pressure to succeed was on!

But I wanted more than to just put ‘food on the table. I wanted to create a really beautiful, abundant lifestyle. But I didn’t know what I didn’t know. 

And so before long, I felt like I was working really hard but getting absolutely nowhere.
I felt like my business was a black hole I couldn’t seem to extract enough money out of  for myself to enjoy a comfortable life.

But once I deeply understood and applied the things we’re about to cover, everything shifted. I realized I’d had completely the wrong attitude. It wasn’t a bad attitude.

It’s just that when you go into business, things are different.
And the sooner you realise that, the easier your life will be.

Here we go:

Number 1: Money mindset trumps strategy every time.

You really have to sort out your money mindset as soon as humanly possible – ideally BEFORE you start your business. 

Because in business, you can only succeed to the level of your self belief, your self worth and your self image. So the sooner you start expanding those things, the better.

Otherwise they act like an invisible barrier you can’t seem to move past.
And when you don’t realise the problem is your mindset, you start thinking it’s your strategy – and that can keep you stuck & broke for years!

For most entrepreneurs, this shows up as imposter syndrome – thinking we still don’t know enough. So we take another course, work with another coach, implement a new strategy, try yet another approach.  EX-HAUS-TING!!!

We keep throwing money, hard work and time at the problem, when the problem is really just up here <taps head>

You can have the best business strategy in the world, but if your head’s not in the right space, you’re going to unconsciously do all these weird things to undermine that amazing strategy. You’re going to be repelling opportunities, abundance & clients as if by magic.

Some become course junkies, always thinking, “I don’t know enough”.
Others will miss opportunities – not reaching out to people can help or might be interested in what we offer, not getting in touch with that person you met, etc. By NOT doing these things, they stay small.

If you don’t do the mindset work, your patterns will keep you stuck in the same old place. 

But as you expand your self belief, self worth and self image, the abundance flowing into your business will expand to match.

So the very first thing every business owner needs to embrace is that your money mindset trumps your business strategy – every single time.

So get your mindset right FIRST. Then get the right strategy in place.


I’d love to hear from you in the comments below:
When did you realise that your mindset is your most important business asset?


Number 2: Your business pays YOU

When you’re in business, you need to start managing your money differently.

That’s because your business pays you.
On one hand, there’s your business and its finances.
And on the other hand, there’s you and your personal finances.
The two should be separate.

And your business needs to generate enough income to pay you AND pay its bills.

That’s a very different mindset to the mindset of an employee.

Number 3: In business, Cash is King!

When you’re in business, the golden rule is that ‘Cash is King’.

Your cash flow is the most critical factor in making sure your business can keep growing and flowing. It needs to be able to pay its expenses and continue to expand – and it needs to be able to pay you as it grows.

Learning how to manage that cash flow and smooth it out, is critical.

See, as employees, it’s easy for us to ignore our finances. We get a regular paycheck and it’s easy to work out how to make it last.

But when you’re in business, we need to ensure the cash keeps flowing into & THROUGH your business – and that’s all on you!

Because business income is usually irregular, you’ll also need to learn how to smooth that cash flow.

And then, once your business has paid you, you also want to be really smart with that money so you can create financial stability and grow your wealth.

It all comes back to knowing that ‘Cash is King’ – then smoothing and managing that cash flow as well as possible.

I recently uploaded some 2-minute ‘Quick Tip’ videos on my YouTube channel, including one on how to smooth that cash flow. You can watch it here.

To manage your money well, it’s critical to have it well organized.

So if you haven’t yet taken my free ‘Organize and Tidy Your Banking’ workshop, then I recommend you jump on that next. The link is both here & below for you.

The workshop is designed especially for entrepreneurs and leads you through a simple 3-step process to organize and tidy your banking so you have the essential foundations and structure in place to help your money flow – and grow.

Ready to go deeper?

 

 

FREE LIVE WORKSHOP

Organize & Tidy Your Banking

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How to set financial goals in business – and achieve them!

How to set financial goals in business – and achieve them!

When it comes to setting and achieving financial goals, most new business owners make one simple mistake.

And it’s the reason they don’t achieve their financial goals.

In this episode I’ll share what this mistake is and explain how to set financial goals in business – and actually achieve them – by simply asking yourself the right questions.

 

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Ok, first let’s talk about this very simple, but common mistake that has massive consequences.

And please don’t feel bad if you’ve done this – because I did it too! In fact, most new business owners do.

The simple mistake is that they start a business – but keep thinking like an employee!

They’re not used to crunching the numbers on the basis of running a business. And they don’t know how to set financial goals that are appropriate for a business, rather than someone on a wage or salary.

Starting to think like a business owner comes with time. It’s simply a matter of learning how to ask yourself the right questions.

When I first started my own business I made the same mistake. I was still thinking like an employee. I set my income goal at $10,000 per month because I thought that would solve all my problems. But when I hit the $10,000 a month, my problems were far from over. In fact, they were BIGGER because I was running a business! And that business had expenses and I had tax to pay. There were these things I hadn’t allowed for.

In this episode, I’m going to take you through the quick & simple questions you need to ask yourself, so that you can set and achieve the financial goals that are going to give you the outcome, the lifestyle, the peace of mind that you’re looking for.

So how do you set the right financial goals as a business owner? Well, there are 3 key questions you need to ask yourself:

Number 1:  What are my personal expenses?

How much does your business need to pay you?
A handy hint: If you want to really smash this, make sure it includes your next financial goal. For example, if you’re planning to pay off a $5,000 credit card over the next 10 months, you need that extra $500 per month of personal income.

Number 2: How much does my business need to operate?
How much money do you need to run your business? Your business has its own ‘living expenses’ – known as operating expenses. You need to pay those bills to stay in business. So make sure you have those thoroughly covered.

Number 3: How much tax will I need to pay?
This is the biggest difference between being an employee and being a business owner. You don’t get to keep all the money… you need to pay some of it to the government in taxes. As an employee, your employer did it for you and the rest was yours to keep.

Knowing how much of your gross income you need to put aside for tax is really important.
Putting tax money aside from the beginning also shows that you’re EXPECTING to make a profit, which makes you magnetic to more.

Check out this episode here for more info on how to manage your money to make you more magnetic. And you might also want to check out this episode here, which takes you through the 5 rules for a money management system that helps you pay your bills and reach your financial goals.

Ok, let’s get back to your income goal, which of course is the sum of all 3 answers above.

Your income goal is the sum of your personal living expenses, your business operating expenses and tax.

Now I’d love to know in the comments: When you’ve set financial goals in the past, did you allow for tax or did you forget? Because I know I did, especially the first time (Ok, and maybe the second). So let me know whether you did the same thing!

Ok, we’re not done yet because this episode is about how to set and ACHIEVE your financial goals.

So let’s talk about how to achieve them.

This is of course a combination of mindset and business strategy. You’ll find plenty of other episodes here with tips for sorting out your mindset to help you attract that income goal.

So today, let’s talk about the strategy. In particular, let’s ask one more simple, but very critical question. 

Are you ready?

The question you need to ask yourself after you set that income goal is: Can my business actually make that much?

Given your current business model, your current pricing products and services – is it actually possible for you to generate that level of income? Because if you’re charging $50 an hour and you can only work 20 hours per week because you have young children, then making $10,000 per week will be impossible.

A really simple process my business coach taught me a long time ago is what she referred to as “Income Stacking’. All you do is list every single product and service that people can buy from you & how much it costs, and then work out how many of those you need to sell to achieve that income goal.

Then you ask, Is that achievable?

From there, you can make some decisions and changes as you need. Maybe you need to increase your prices, maybe you need to focus more on leveraged products where you don’t need to put in more hours – where all you need to do is improve the system and funnel that sells them for you.

So by asking that simple question, “Can I actually make that much money given my current business model,” you get to work out very quickly whether the goal you set is achievable or whether you need to make changes.

If you’d like a handy calculator to help you put those numbers together so you can work out what your income goal should be, then grab my free Income Target Calculator. The link is below, so scroll down & download it now.

I hope you enjoyed this episode and found it really useful? I can’t read your mind, so please let me know by leaving a comment below.

Remember – it’s time to embrace your unlimited potential. and you’re ready to take the next step.

xx Miriam

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3 Tips For Organising Money That Make You Magnetic – For Entrepreneurs

3 Tips For Organising Money That Make You Magnetic – For Entrepreneurs

Having your money organized feels FANTASTIC

You feel in control of your finances and your destiny. 
But even better… organizing your money well can also help you attract a whole lot!

And I’m all for that!

In today’s episode, we’re going to cover 3 specific ways to organize your money better – which also turbo charge your money magnetism.

 

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Ready? Let’s do it!

3 tips for organising money – that make you magnetic to more:

First, a bit of important background info for you:

When I was running my finance business, I noticed that people on bigger incomes didn’t necessarily feel any better about their finances. In fact, they were often MORE stressed and had little confidence in being able to manage their money.

I also noticed that people on more modest incomes who knew how to take great care of their money had more savings, often owned multiple properties and were enjoying life a whole lot more.

Even though they had LESS income, they had MORE wealth and LESS stress.

It was years later, after  I studied hypnosis and the Law of Attraction that I figured it out.

See, those people with the money confidence were more aligned with abundance and so consequently attracted more of it. The pieces of the puzzle would fall into place for them, opportunities and windfalls would land in their lap.. and they’d know exactly what to do with that bonus money!

This is where the Magnetic Money Code was conceived.
I discovered that money thrives when you create an eco-system. When you know how to manage your money to grow your wealth… and where your attitude and your vibration help you consistently attract more.

This is what we do in Magnetic Money. We create an eco-system where you and your money can thrive together.

Today, I’m going to share 3 tips for organising money with you – in a way that makes you magnetic to more – ESPECIALLY if you’re an entrepreneur!

TIP #1: Separate Discretionary Spending From Fixed Expenses.

When you do this, you’ll know where your fun money is. And you get to spend it however you choose – without feeling guilt or worrying that the bills won’t get paid. Because your fun money is ONLY for you to have fun with. That is its job.

This raises your vibration and makes you feel RICH, which makes you magnetic to even more.
It also ensures that you always meet your financial obligations and your bills get paid – which further adds to that feeling of abundance.

TIP #2: Make Compound Interest Work For You, Not Against You

Start by reducing your debts as quickly as possible, because that’s where compound interest is working against you. Then swing that pendulum around and invest in things that ATTRACT compound interests so your wealth starts to grow.

Even if you start by paying off a credit card, your focus & intention will accelerate you towards that goal.
Plus, you’ll feel excited and enthusiastic about clearing those debts so you can start growing your wealth. 

This raises your vibration and shifts your attitude – which makes you magnetic to more money.

And so the cycle continues to build & build.

OK, before we move on to tip #3, let’s hit pause.

Take a moment & ask yourself – Do you have a system for organising your money? 

Do you separate discretionary from fixed expenses? Are you actively focused on making compound interest work for you, rather than against you?

Of course, I personally use the Magnetic Money System and share it with my students.
I only spend 5-10 minutes a week organizing my money and it’s one of my favorite things to do, because it’s super easy and I can really see my financial progress.

In fact, when I first implemented the system, I was still carrying a large credit card debt. It was about $70,000.
When I finally put the system in place, the incredible power of that focus & increased alignment had me clear that debt 000 in just 7 months! And it had been hanging around for years!

This is the power of a great money system. It accelerates your financial progress and at the same time,  raises your vibration so you become magnetic to more.  It’s a beautiful positive cycle that continues to build momentum.

TIP #3: Put tax money aside

This is especially critical for entrepreneurs and business owners.

It makes perfect sense from a practical point of view, of course, because you need to pay that tax bill when it comes. Many business owners have been caught out by not having the money when handed the tax bill after their first truly profitable year in business.

So you definitely want to avoid that. But more than that – on an energetic level, it has an even more powerful effect. Because putting that tax money aside sends a powerful message to the Universe that you EXPECT to make a great profit in your business.

My tax bill is physical confirmation that I’ve had another great year in business, that I’ve made lots of profit. And now I get to share some of it with my community and my country.

When you’re prepared show that you expect it by putting that tax money aside, not only does it feel really great to say, “Hey, Mr. Taxman, here’s your check.” … it helps you attract a whole lot more money along the way because your energy is one of, “I’m in business and making profit. And I fully expect it.”

You’re literally putting your money where your mouth is and demonstrating your expectation with your actions.

If you need help with organizing your money, then definitely check out the Magnetic Money program. This is what we do – along with helping you get in consistent alignment with abundance and clearing those old money blocks.

And if you’re wondering, “But how much money do I need to make in the first place? How much does my business need to bring in?” then grab yourself my free Income Target Calculator at the link below. 

Did you enjoy this episode? Please drop me a comment and let me know!

It’s time to embrace your unlimited potential, gorgeous and you are so ready for that next step.

See you in the next episode!

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How to manifest business success – while juggling your day job

How to manifest business success – while juggling your day job

Are you still working in your day job while growing your business?

Katie Allen asked a really cool question about this:

How do you manifest business success when working in your job leaves you feeling exhausted, burnt out and really struggling to tap into that abundance mindset?”

So in this episode, we are going to talk about how to use Law of Attraction to help you make money as quickly as possible so you can build your beautiful new business – while still working in your day job!

And in fact, we’re going to talk about how to take advantage of the fact that you have a day job to turbo boost the whole thing!

 

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Building a business while you’re still stuck in your day job can feel really hard. You might feel resentful and like you just want to so you can fully immerse yourself in your business. I felt that way when transitioning from my finance business into my coaching business.

At the time, my finance business had become my ‘day job’. I had grown it into an amazing, successful business and it brought in lots of money, but my heart was in my coaching business. That’s what I wanted to build. That’s where I wanted to spend my time. And so I found myself constantly battling against having to show up and spend so much time in the finance business.

It was really tiring and it wore me down.

So eventually I decided to stop struggling. I looked at the energetics of what was going on and took it back to basics. And I made a few tweaks that completely shifted that energy which allowed me to not just show up more in my new business without feeling tired and worn out – it also allowed that business to take off and become successful a whole lot faster! This meant I could leave the finance business sooner and hand my clients over to my wonderful husband, leaving me free to build my coaching business full time.

Here are some basic principles that will help you manifest business success and leave that day job faster:

The first thing to remember is: What You Resist, Persist!

The more you struggle against the day job, against not wanting to be there, feeling resentful of the time you’re having to put into it and the energy it’s zapping from you, the worse it’s going to get!

You will only exacerbate that problem and feel more drained and resentful. So you need to let go of that and stop resisting what is, which is what will make space for ‘what is yet to come’.

Next: Surrender allows new doors to open.

Surrender yourself to accepting that this is how it is right now. You may need to go a little bit slower. Some days you won’t be able to work on your business. 

The more you allow yourself to go with the flow of that, the more that energy actually relaxes and allows new doors to open. That allows new opportunities to come to you, because you’re no longer wrapping up all your energy in the struggle against what is. You’re allowing things to unfold and flow where life naturally wants to go next. And that allows the Universe to do its magic, put you in the right place at the right time and have the perfect conversations that ultimately help you grow your business even faster. 

Because who knows what amazing people you’ll meet through your day job that end up being the perfect catalyst to help you succeed in your business?

The more you just surrender into it and enjoy where you are right now, the more you allow the magic to unfold.

Sometimes in the Magnetic Money Club, a member will say, “Look, I’ve decided I’m going to take a part-time job as I build my business.” People used to feel embarrassed or like they’re failing, but my reaction is always to CELEBRATE because that job plays an important role in allowing your business to grow without all the pressure of having to make money instantly. It allows you to find your way, to figure it out, to let things find their way. The day job takes the pressure off your business and that allows the magic to flow.

If you’re still in a day job while building your business, tell me in the comments:
What are 3 things you love about your day job that you can be really grateful for?

The more you tap into that and express gratitude for all your day job gives you, the more you allow that energy to shift.

Remember also that the one thing that will support your alignment more than anything else, is getting enough rest. So be okay with going slow and get lots of rest because that allows you to be in alignment. And your  alignment is worth more than any amount of hard work you could put in.  

You can never work your way out of poor alignment. 

So you may as well take a rest, have a nap, go to bed early, take a day off and get back in alignment. The power of that alignment will make up for any missed time. 

Time is irrelevant when you work with the power of alignment. 

Let me share a quick story:

One of our Magnetic Money members works full-time while running her business. She took a new job she thought was going to free her up more, but didn’t realise she’d have to travel to and from the office. This meant she was out of the house from 7am until 7pm each day! There was no time and energy left for her business. She was quite distraught. We had a conversation and I said, “Look, it’s okay. Right now you’re in a transition period. Get  your head around a new job and settle in. Your business will still be there for you. Just look after yourself for now and love everything you can about this new job. And you’ll see… the energy will shift and things will find their way.”

Well, about 2-3 months went by. She felt terrible because she had all wanted to achieve all these things in her business. But she surrendered. And once she found her feet in her new job, things started to shift. She suddenly had freedom to work from home and a lot more flexibility. She found that beautiful place of alignment again and within a few months, she’d achieved more in her business than she’d hoped to all year. By surrendering and letting go, relaxing into & accepting what is, she’d allowed herself to get back into alignment. And she made up for all the ‘lost time’ in next to no time.

What she achieved in the next few months in her business was really quite staggering – and actually more than many others who are full time in their business.

So remember: Time Is Irrelevant – Alignment Trumps Everything.

Your mindset is going to be one of your most critical assets in getting you through any transition periods. So make sure you check out the episodes linked below, because they will really help you with sorting out some of the main mindset blocks that tend to slow entrepreneurs down.

It’s time to embrace your unlimited potential and you are SO ready to take that next step!

See you in the next episode!

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Want to manifest more abundance in your business & life – CONSISTENTLY?

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How To Attract Business Success

How To Attract Business Success

Most entrepreneurs are impatient. 

We want to attract business success. We want the clients, the leveraged income, the freedom and the lifestyle. And we want it all… yesterday.

So when things aren’t going as fast as we’d like, we often dig in and work longer & harder.

We create more funnels, new email sequences, new marketing strategies, more content and new offers. We do MORE, hoping that will accelerate our results.

In this episode, we’re going to discuss why that’s completely the WRONG approach if you want to attract business success – especially if you want to do it WITHOUT working harder.

 

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When I first started my finance business, I was a broke, single mom. So naturally, I worked my butt off. I worked late nights, seven days a week. Whenever my kids didn’t need me, I worked.

And I built a wonderful, successful business. But I also got very, very tired.

When I started looking more deeply into the energetics of business success, I made some radical changes. This included deciding to only see clients during school hours and only at my office. My colleagues thought I was nuts! But guess what?

My business doubled!

I became more effective and started attracting higher quality clients who valued my time and service more. The biggest shift though was in my energy – and that made all the difference. 

And that’s what we’re going to talk about today.

First up, let’s discuss the smell of desperation… because nothing turns people off faster. (I mean, have you ever had someone be really keen to date you – but just you weren’t interested? The harder they tried, the more of a turn off it was, right?)

When we start working longer & harder to generate more business, we start giving off that energy of desperation.  And energetically it literally REPELS people.

So how do we know when you’re doing it? Let’s be honest – when you’re starting to FEEL more desperate! After all, that’s why you’re working harder, refusing to give yourself a break and trying more & MORE things.

On the other hand, what is sexy and attractive as hell is CONFIDENCE.

When you meet someone who’s totally grounded and confident – they know who they are and what they want – and they don’t give a flip what others think – that is a very magnetic quality. 

I’m not talking about arrogance. I’m talking about being confident in yourself, in what you stand for and who you are. Energetically that is very, very magnetic. And it all comes from knowing yourself, honoring yourself and loving yourself.

Here’s an easy way to get into that space:

Look at your testimonials and client feedback. Keep them all in a folder for easy reference – especially when you start to doubt yourself! When you read over those messages telling you how fantastic you are, how much you helped people, how much they appreciate you – that’s a powerful reminder of your value, the value of your service and how important what you do is.

I also invite you to spend some time getting really clear on what you stand for.. 

How do you stand out? How are you different? What does everybody else out there tell people to do? And where do you have a really strong differing opinion? What makes you ranty? What are your ‘soapbox’ statements?

For example:
For me, it’s that most people who teach Law of Attraction tell you “Do these X things and you will attract what you want”
And I call bullshit on that – because it’s not what you do that matters. Because this is a vibrational (feeling) Universe, it’s how you feel that matters and makes you more magnetic to money & abundance.

The Universe doesn’t care what you say or write. It doesn’t know if your desk is messy, what time you got up in the morning or what pictures you have on your vision board. The reason some of those things sometimes work for you is because they helped you feel abundant. And that’s what magnetizes you to more abundance!

See how that stands out from the “Do these X steps so you can attract Y?” message?

Mine is a totally different take. And you have the same in your business!

So spend some time getting clear on those soapbox statements. They will help you stand in a  whole new, much more confident energy. And that is sexy and magnetic as hell!

Next, let’s talk about what it means to be magnetic

Being magnetic, magnetizing yourself, to money, abundance, clients and opportunities actually means standing still and inviting those things to come INTO your space.

It’s not about hunting or fishing for more money, clients and abundance. It’s about standing in your power, being really clear in your energy and creating space to invite them in

How do you approach your business? Do you stand in your power, are you clear on your message and invite people into your world?

Or are you hunting them down, spraying ‘Eau de Desperation’ all over them? 😊

I’d love to hear your thoughts in the comments below!

Now, let’s talk about the energetics of allowing people to come into your space:

If you spend all your time creating more content, new funnels, more offers and sending out emails and offers to work with you, you’re constantly pushing energy OUT. And that means you’re not allowing any energy to come back IN!

It’s the difference between fishing and hunting versus allowing yourself to become more magnetic.

That’s why it’s important to spend more time becoming grounded, clearer on your message and creating an energetic space that people can step into.

That means being willing to step back a little, taking a break, going away for the weekend (without your laptop and phone), meditating etc.. basically allowing some time & space for all that energy you’ve put out to come back in.

Remember – energy is a flow. If you’re constantly pushing it out, you’re not creating space for the flow IN.

Before I go, let me share my number 1 tip to help you become more magnetic to money and business success:

And that is to take excellent care of yourself & get lots of rest!

Because no amount of work will ever make up for a lack of alignment. When you feel tired, when you feel run down, when you’ve been working too hard, when you start resenting your business and not looking forward to sitting at your desk anymore, you’re completely in the wrong energy. And whatever you do is not going to be effective.

In fact, it’s more likely to be counterproductive. 

So always take care of yourself first. Pay attention to your energy, listen to those early signs and take a rest when you need to. When you come back into your business, feeling rested & refreshed, you will be aligned and inspired. And everything you do can turn to gold.

This is the very key to becoming more magnetic to money and business success as an entrepreneur.

Make it your mantra to always put YOU first. To take excellent care of yourself. Because when you combine great business strategy with the power of alignment, you will get incredible leverage and amazing results.

It all comes from you looking after yourself so you can be in alignment in the first place.
Now, one of the best ways to enjoy a little rest AND align with the vibration of abundance is with a hypnotic meditation I’ve specifically created just for this purpose.
You’ll find the link in the show notes below.

It’s time to embrace your unlimited potential, gorgeous

And you’re absolutely ready to rock your business through the power of alignment.

READY TO GO DEEPER?

Download your FREE Self-Hypnosis Abundance Manifesting Meditation here:

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