inner circle

How a Business Support System Helped to Redefine Wealth with Patrice Washington #45

Patrice Washington is a personal finance expert who started the Redefining Wealth podcast with the help of her business support system. She always knew that money was about more than material possessions. Her work with countless one-on-one clients taught her that a relationship with money is actually about personal well-being. Patrice teaches the masses how to move from debt management to money mastery. Personal finance expert, author, speaker, and Redefining Wealth Podcast host, Patrice Washington joins this episode of My Biz Bestie to discuss money mindset, business support systems, and so much more. Listen to this episode to learn how important having a business support system is for growing a business.

Learning how to ask for help

After being raised by strong, independent women independence came naturally to Patrice, but asking for help didn’t. Her fiercely independent ways didn’t help her grow her business or in her personal life because she didn’t understand how to accept support. It took hours of therapy for her to peel back the layers and to learn how to give herself permission to receive support from others. Now that she understands that other people’s expertise and assistance can really help her business grow she has been able to scale her business. Learn how Patrice learned how to change her narrative and how that led to business growth.

Who supports and challenges Patrice Washington?

Patrice loves the support her husband gives her but she admits that he is the last one to challenge her to rise up and make the most of her business. Spouses often make fantastic cheerleaders, but they are often not the best coaches. She attributes the encouragement of her business support system to her pivot in creating the business model that she has today. Her business support system includes a group of 7 women entrepreneurs that meet through biweekly calls, a group chat, and a live meet up a couple times a year. She knows that once she speaks her goals aloud, her business support system will hold her accountable. Who holds you accountable for your business goals?

No matter how successful she is, Patrice is still a work in progress

Patrice Washington knows quite a bit about self-improvement. After trying for years to figure everything out on her own and struggling with low self-esteem she learned to seek help. She knows that the story you tell yourself can be the one that holds you back the most. She feels that the most dangerous place to be mentally is when you think you’ve mastered something. That’s when you stop putting in the effort to improve. Patrice understands that no matter how successful she is, she will always be a work in progress. How do you reevaluate your progress and make lasting self-improvements?

How did her business support system help her pivot?

Despite all her success as a personal finance expert, Patrice Washington was unsure of how to pivot her business. Self-doubt crept in--would people listen to her if she broadened her horizons to discuss money mindset issues? Her husband thought it was a great idea, but it wasn’t until she felt the support of her business support system that she found the confidence to rebrand her image and begin the Redefining Wealth podcast. Listen to this episode to hear how having a business support system can change your outlook and help you redefine your business.

In this episode...

  • [2:12] Who is Patrice Washington?

  • [5:15] Money affects every part of your life

  • [12:39] What has she learned as a business owner?

  • [15:33] No matter how successful she is she is still a work in progress

  • [21:10] Who supports and challenges her?

  • [30:52] How she taught her daughter that material possessions don’t define wealth

  • [35:33] Her business support system helped her pivot

Connect with Patrice Washington

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What are the Group Norms in Your Squad? #42

Have you ever been a part of a group and wondered why you were so disappointed by it? Maybe you were in a paid business group and felt that others discussed their personal lives too much, or not enough. When others don’t live up to expectations this can be a source of disappointment. On this episode of My Biz Bestie, Maelisa and Amber put on their psychologists’ hats to discuss group norms and why they are important to creating the right inner circle. If you have ever been a part of a group you will want to listen to this episode to help you understand how expected norms affect the group experience.

What are the rules of your tribe?

You use group norms every day without even thinking about it. Group norms are an unspoken and unwritten set of social rules that govern the behavior in any given group. They are based on the type of group and differ based on the different social situations that the group is involved in. These unwritten rules guide the tribe, squad, posse, or group and lead to the expectations within. You can feel when someone is out of place when they aren’t meeting the expectations or following the norms. Think of some different groups you are in, how do your expectations of it vary based on the differing group norms?

TWEET THIS: What are the rules of #YourTribe? Listen to this episode of #MyBizBestie to explore the group norms of your #InnerCircle.

What are ways to think about squad rules to get your expectations met?

People often join business groups, paid masterminds, or networking groups based on an understanding of perceived group norms. To have your expectations met you need to have clearly defined rules that you understand. When the rules seem like they aren’t being followed it can lead to conflict and disappointment. Conflict is really an expectation that is not being met. If your expectations aren’t being met this can cause a personal crisis and lead to doubt as to why you are in the group in the first place. Have you ever left a group when you discovered that it didn’t meet your expectations?

How to get the best value out of your group

If you are interested in joining a paid mastermind or networking group then you need to be intentional about what you are doing. When you are not thinking about the social norms of the organization then you are setting yourself up for disappointment. One way to be clear about the norms is to simply ask what the rules are. You will get more value out of the group if you are able to express what your expectations are. Be thoughtful about what you are looking for and what you expect. Clearly defined expectations help to prevent hurt feelings or disappointment later on. Listen to this episode to hear more about how you can get the most value from your tribe.

Evaluate the norms of your squad

If you wonder why you are feeling disconnected from the tribe or if you are disappointed in the group you may want to consider whether the group norms are right for you. Get clear on what exactly they are and evaluate whether they are right for you and your goals. You don’t want to be a part of a tribe where you expect one thing and then it doesn’t happen. You will get more value out of the group if you are able to express what your expectations are. If you are looking to expand your network and open yourself to more opportunities then take a peek at the My Biz Bestie Networking master class. It could be exactly what you need to find your ideal squad.

In this episode...

  • [2:02] What are the rules of your tribe?

  • [4:38] What are ways to think about squad rules to get your expectations met?

  • [6:42] An example of boundaries

  • [9:55] How to get the best value out of your group

  • [19:46] Evaluate the norms of your squad

  • [24:02] Deciding whether to stay or leave the group

Resources & People Mentioned

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The 6 Areas of Your Life That Create Your Business Support System #33

Welcome to season 3 of My Biz Bestie. After an enjoyable summer hiatus, Maelisa and Amber are back in action and ready to talk about entrepreneurship, business relationships, and of course, biz besties. On this episode, they are excited to explore not just the biz bestie relationship, but the entire support system that surrounds you and your business. They explore the different areas of your life that provide a support system for you and your business. Are you ready to discover what the 6 areas of your life that create your business support system are? Listen now to hear what they are.

You come first

You should come first in your life and in your business. The self is all the things that make you-you. Your personality, self-care, self-esteem, mindset, professional growth, mental health are all very important to your business. If you don’t have your self in order then your business can suffer. Listen now to hear why you are the most important part of your business support system.

TWEET THIS: Are you ready to discover what the 6 areas of your life that create your business support system are? Listen now to this episode #MyBizBestie hear what they are.

 

Your biz bestie

If you have listened to this show before then you already know the value the biz bestie relationship can provide. Your biz bestie can give you honest feedback in many aspects of your business. It’s nice to have the one on one relationship with someone whose opinion you value and who you really like. You trust your biz bestie to be open and honest. There is often an overlap between business and professional advice in the biz bestie relationship.

Your inner circle

Your inner circle includes other people whose opinions you value. This may or may not include your biz bestie. The inner circle could be people in a mastermind, mentors, collaborators, or simply people you are close to. Your inner circle is a group of people that you share your wins with and they have seen the progress that you have made in your business.

Your team

Your team includes all the people with which you have a business relationship. This can include vendors, consultants, and collaborators. All of these people support your business in reaching your goals. Listen now to hear how your team is part of your business support system.

Your loved ones

Your loved ones are all the family and friends that don’t run a business. They care about you and help your personal relationships. They may not understand what it’s like to be an entrepreneur, but they want to support you in your endeavor however they can. Your loved ones help you find boundaries in your business. Listen to this episode of My Biz Bestie to hear how your loved ones can impact your business.

Your community

Some people neglect this part of their business support system. Your community includes those that you meet networking, collaborators, or referral sources. You may not feel as connected to your community as your inner circle, but your community is like having an extended circle. If you have a local business the community can be found at community events or the chamber of commerce. Listen to this episode to hear why it is important to connect with a larger audience.

Which areas of your business support system need help?

As you think about these areas of your business support system, which one do you feel needs the most nurturing? Which area (or areas) needs to be grown? Leave a comment on this page and tell us which area you will start nurturing. Maelisa and Amber have a special giveaway in store for 4 lucky people that leave comments. Comment now and be sure to listen on September 10th to find out if you have won!

In this episode...

  • [2:12] What are the areas of your life that build the support system?
  • [3:46] Yourself
  • [5:17] Your biz bestie relationship
  • [6:10] Your inner circle
  • [7:45] Your team
  • [8:49] Your loved ones
  • [12:54] Your community
  • [16:11] Which areas do you feel need the most nurturing in your life?

Resources & People Mentioned

Connect With Maelisa and Amber

Subscribe to My Biz Bestie on iTunes, Stitcher, iHeart Radio, or Spotify

How Can Having an Arch Nemesis Help You Grow Personally? #32

How Can Having an Arch Nemesis Help You Grow Personally? #32

Whether you call them frenemies, haters, or nemesis (nemesi??), it seems like everyone has someone in their lives that is their antithesis. On this episode of My Biz Bestie, Amber and Maelisa flesh out the arch-nemesis relationship. An arch-nemesis can actually be an important relationship that helps you define your life (much like a biz bestie!).

The GSD Mavens Share the Value of a Week-Long Entrepreneur Retreat #31

The GSD Mavens Share the Value of a Week-Long Entrepreneur Retreat #31

This episode is a special one where six GSD mavens join Maelisa and Amber to share their experiences from the week-long GSD entrepreneur retreat. You may not consider a week-long retreat to be a valuable use of your time, but these ladies will prove you wrong. Listen to this episode of My Biz Bestie to hear the GSD mavens explain why the week-long GSD entrepreneur retreat may be exactly what you need.

How to Set Up an Amazing Group Retreat #20

How to Set Up an Amazing Group Retreat #20

On episode number 20 of My Biz Bestie, Amber and Maelisa discuss how to set up an awesome group retreat. Group retreats are a wonderful way to get away and really focus on your business. When done well they are the perfect mix of business and pleasure. Planning a group retreat can be a daunting task. A well-planned retreat is not just good for your business, it’s good for your soul. If you are thinking of planning a group retreat or even just attending one then you will want to listen to this episode to hear Maelisa and Amber's insider’s scoop on how to make it amazing for everyone involved.

What are the Benefits of Masterminds? with Natalie Eckdahl #19

What are the Benefits of Masterminds? with Natalie Eckdahl #19

Have you ever wondered if a mastermind would be a good idea for you and your business? Perhaps you’re already in one, but it isn’t providing you with all the benefits that you were expecting? On this episode of My Biz Bestie, Natalie Eckdahl from the Biz Chix podcast is here to discuss masterminds. Natalie is the mastermind queen and has the scoop on everything you have been wondering about masterminds.

How Can Utilizing a Business Support System Save You Time and Money? #16

How Can Utilizing a Business Support System Save You Time and Money? #16

Do you have a business support system in place? What kind of support system, you ask? Well grab your favorite headphones and a cuppa and sit down for a listen! On this episode of My Biz Bestie, we’re talking about support and not the 1-800-helpdesk kind. Your business support system can be a part of your network, but they are your inner circle…