“Building a seven-figure business” with money expert Monica Shah
(Left) Seven-figure entrepreneur, money expert, and author Monica Shah.
Seven-figure entrepreneur, money expert, and author Monica Shah was the keynote speaker on Thursday, March 14, 2019 at an event hosted by the National Association of Women Business Owners (NAWBO)–Atlanta chapter. The monthly luncheon event held at the spacious Georgian Club off Galleria Parkway in Atlanta was packed with business owners eager to hear Shah's talk about the five money-generating steps that will turn the work they love into one that funds their ideal lifestyle.
Shah is the founder of Revenue Breakthough, teaching business owner clients step-by-step strategies, marketing, and skills to expand into a profitable, sustainable business. One of her primary missives to entrepreneurs, especially women entrepreneurs, is to shift their mindset into experiencing explosive growth by “changing the conversation around money,” Shah said.
Based in Brooklyn, New York, Shah was in Atlanta speaking at many events about her highly popular money expert mastermind program to get clients to stop self-sabotaging and be smarter about business dealings without fear. Before launching into the five concrete steps to generate revenue for business, she recounted her journey to launch Revenue Breakthrough in 2005. Before Shah could have a clear reset in money mindset, she hit rock bottom, explaining that she was stuck in a mode working 60 hours per week so she wouldn't have to work 40 hours per week for someone else, which meant taking on extra odd jobs like dog walking, cat sitting, and renting her apartment through AirBnB. She knew that things had to change. Right after renting her apartment, while heaving a multitude of bags of possessions up and down NYC subway stairs, she suddenly was struck with the realization that she had no earthly idea of how to leverage out of 25k accumulated opening business debt or even if it was to become profitable. Soon thereafter she realized “she was doing everything backwards,” and the shame of not making money was the real crux in generating revenue.
During our interview before the event started, Monica explained that her Cincinnati upbringing was wholesome and she “came from a family with ultrasuccessful entrepreneurs.” She says in order to shift conversation about money mindset, it is necessary to understand “people's beliefs about family, culture, and childhood,” especially pertaining to their relationship to money. Her money values changed some after earning an MBA from Northwestern's Kellogg School of Management and altered slightly more during her corporate years at L'Oreal Paris. But nothing prepared her fully to be a full-time entrepreneur, so she hired coaches and began a money mindset reframing.
She created five steps to earn, grow, and keep more money in your business. The first of these steps is sales conversation, second is revenue generation, third is tracking your numbers, fourth is having a plan, and the final step is rinse and repeat. Shah says that following these steps in the right order and looking internally for answers can not only help maximize profits but also do so without complete exhaustion.
Shah has spoken at NAWBO events for several years, as one event attendee mentioned, saying that hearing Monica speak had changed her entire mindset and catapulted her business from 6-figures to 7-figures.
NAWBO is the unified voice of America's more than 10 million women-owned businesses representing the fastest growing segment of the market. Started in 1975, NAWBO not only empowers and supports women entrepreneurs, it also advocates on issues that impact women in all business enterprises.
Featured speaker Monica Shah (right) with Neha Negandhi at the NAWBO–Atlanta meeting
on March 14, 2019.
NAWBO Atlanta chapter: https://www.nawbo.org/atlanta
Monica Shah's Revenue Breakthrough: https://revenuebreakthrough.com/
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