Jun 1, 2021
“Financial independence is a birthright. We just have to know how to claim it.” Thanks to our guest today, Mel Abraham, we are taking the steps to understand how to do just that. I am thrilled to have Mel on She Sells Radio today because of how much of an impact he has had on me personally. I have always been good at making money, but in full transparency, I haven’t always been good at managing it. I began working with Mel as my financial coach and I am feeling so much more confident and am learning more everyday.
Mel helps business owners and entrepreneurs build meaningful businesses so that they can have more profit, fans, and freedom. His principles help customers become raving fans and create fulfillment from a business that is congruent with your values, in alignment with your higher vision, and connected to all stakeholders at an emotional level. He helps bring people’s dreams out of the darkness and see the light again. He is a globally recognized thought leader, financial expert, best-selling author of the book The Entrepreneur’s Solution: The Modern Millionaire’s Path to More Profit, Fans, and Freedom, and a highly ranked podcaster.
Something I admire about Mel is that he works with some of the top entrepreneurs in the world, but still always puts his own family first. As you listen to this podcast, you will feel inspired and driven to invest in your future in a way that brings you fulfillment now without sacrificing what’s really important.
Show Notes:
[1:39] - Elyse admits that in the past, she was good at making money but not good at managing it. She hired today’s guest as a coach.
[4:09] - Mel explains that many CPAs look back at what has already been done which doesn’t do any good if you don’t look at what’s possible for the future.
[5:34] - Sharing a story about raising his son as a single father, Mel illustrates how he changed his trajectory.
[6:52] - Mel’s son drew a picture of his dad standing in front of computers with phones in each hand. This was an eye-opening experience for Mel.
[8:24] - There is no work-life balance. Mel explains that we need to be on a search for harmony rather than balance.
[9:29] - Elyse connects with Mel’s story as she takes a look at her developing relationship with her son.
[11:32] - The core principle Mel teaches is being able to clearly answer the question of “Why?”
[12:27] - “How do you know when you’ve crossed the finish line if you don’t know where the finish line is?”
[13:40] - When Mel moved his son as the priority over the dollars, everything fell into place.
[14:34] - What is your definition of success? Your own idea of success is what will be fulfilling to you.
[16:13] - Instead of always looking at the cost of things in your business, consider how much of your life it costs you and determine what is worth that investment.
[17:04] - For Mel, he took the time to determine the intolerables to make appropriate business boundaries for himself and his son.
[18:16] - Many people will compromise so much of their lives for money.
[20:33] - Elyse and Mel discuss the simple strategy regarding investment that has been successful for them. It is simple, but not always easy.
[21:50] - Think about the message you create for yourself when you invest in your future with the leftover income each month instead of investing in yourself first.
[22:54] - Mel explains the 50% percent rule and how it works, especially in an online business.
[24:28] - If you follow the 50% rule, you have the opportunity to create a lifestyle for the future.
[25:30] - Your dollars are the best employees when you invest and build wealth. Make it work harder for you than you did to earn it.
[26:24] - Mel advises that if you don’t understand something completely, do not invest in it no matter how good it sounds.
[28:51] - From an advisor’s stand point, are they giving you the best investment for a client or a suitable investment? Get the right person who has your vision in mind.
[30:28] - Don’t be afraid to ask questions. If you aren’t sure where to go to ask, go to Mel’s podcast and he will help.
[32:17] - The qualities that Mel looks for in an advisor are 1) have the heart of a teacher; 2) they understand your vision and buy into it; and 3) they need to have the soul of a servant.
[33:38] - Mel’s number one piece of advice is to believe in the possibilities and don’t delay.
[34:51] - What would Mel’s son’s drawing look like now?
Links and Resources:
Instagram | LinkedIn | YouTube
She Sells with Elyse Archer Home Page
Connect with Mel:
The Affluent Entrepreneur Podcast