Episode 216: How I Made $1 Million in a Year With Kendall SummerHawk
You don't wait to make $1 million to become the million-dollar business owner. You start being that person today and tomorrow and the next day.
Kendall SummerHawk started filtering all of her decisions and activities through that lens. Money is power, money is freedom, money is choice. She’s been making $1 million or more, every year since 2008.
Kendall created Sacred Money Archetypes Certified Coach training. Her unique voice and innovative strategies on pricing unlock the secret for women entrepreneurs to reinvent their relationship with money and ignite their income. Her vision is to create a world where women hold genuine money power.
There's no magic here. There's work, there's goal setting, and there's understanding what your blocks are. In today's episode, I hope you take a second to really listen in for what she had to do to work on her mindset to create the business and life that she has now so you can figure out how to do it, too.
Kendall’s journey to money coaching
Kendall says she began her career in IT working in corporate health care. She knew she wanted out. She also knew she was ambitious and wanted to make money.
She started a nine-month personal development course and learned about coaching. She says you have to follow those seeds of interest – her course led her to create her business. She says it failed miserably in the first year, but she’s gone on to make close to $30 million.
“You can only connect the dots looking backward. You're not going to connect the looking forwards,” says Kendall. “So, when you have this passion and something really sparks your interest, pay attention to that.”
She also learned the value of a client from her mother who was a successful hairdresser. Her mother honored and revered her clients; she treated them like gold. From a young age, Kendall was inspired to do something creative, do something that’s portable, and work for herself. The next step to money coaching began in 2007 when Kendall started talking openly about money. It’s only in our lifetime that women have had the ability to be entrepreneurs and self-employed.
“It's very new for women to have this kind of authority and autonomy and opportunity and power and flexibility,” says Kendall.
Replace money blocks with million-dollar mindset
What women do with their money is extraordinary. The hurdle so many people have to overcome is this idea that we shouldn't be in it for the money. The craziest description ever of how to keep money out of the hands of women is this constant expectation that we do what I call the free, unpaid, invisible work that makes the world go around.
“We've been programed for centuries that it's selfish to want to make money for ourselves,” says Kendall. “But the thing is, women aren't selfish with their money. ... Therefore, it's not selfish to make money.”
In a way, we haven’t caught up to the truth of this access to money yet. We still have fight or flight responses and worry that we won’t or can’t earn enough.
Kendall shares some money mindset blocks she’s encountered, starting with being selective of who you share your numbers with. Not everyone has earned the right to witness your numbers.
If you're thinking about starting a business, you're looking for inspiration, but a lot of women are looking for permission. It's natural to go to the people closest to us, our spouse or our parents or girlfriends or whatever, and who may not understand, who may feel threatened even though they love you and they say they support you.
But you stepping into this new identity, or if you've been in business for a while and you set a new income goal, it's a really big deal. So be selective. Share them with other women who are ambitious, who are in business for themselves, and whose competitive spirit isn't against you.
The other thing is the mindset of running your life and your business like a $1 million business owner. Kendall started with a filter: How would a $1 million business owner do this? She started with how a $1 million business owner would handle her email. She outsourced household chores. They were small changes. She went from $100,000 to $564,000 and the next year went on to earn a full million.
Change Your Pricing Structure
Kendall says she looked at her pricing immediately to help adjust her mindset. She says it’s an instant mirror to find your money blocks, negative self-talk, and assumptions.
Kendall says the first thing to do is raise your prices, which might involve changing your pricing structure. They cause a very big shift internally for women and how they view their services and how they view giving value. For example, Kendall advocates creating packages for service-based businesses. A money block might be thinking, “How can I charge so much when I only spent x number of hours?"
“Every business on the planet has an opportunity for a high-ticket offer,” says Kendall. “I don't care if it's brick and mortar or any kind of service space.”
She says most women need to stair-step their offers to let themselves catch up with the reality of making the money. They might set a price, get some clients, and then raise the price again. Some can flip it and jump from $100 to $10,000.
Kendall says when people think about charging a lot more, usually the time for money issue comes up right away. Her go-to question is, “What are you afraid of? Or who are you afraid of upsetting or offending or disturbing in some way?” She says 99% of the time, they know the answer, and they start working on that together through coaching.
Free gift for listeners
Take Kendall’s Sacred Money Quiz to discover your money archetype.
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