In this episode of 'Good Ideas + Bad Decisions', co-hosts Ellen and Kat explore the messy middle of running a business with financial consultant Melissa Mittelstaedt. Melissa discusses the importance of getting 'comfy' with money, shedding light on scarcity vs. abundance mindsets, and the often complex relationship between personal and business finances. They dive into practical advice for solopreneurs, including the significance of paying yourself, shifting your money mindset, and understanding the value of the transformations you offer. Melissa also shares her journey from sign language interpreter to financial coach and offers insights into her various programs designed to empower business owners financially. Tune in for a candid, supportive conversation about making your passion profitable and finding financial peace.
Melissa Mittelstaedt is a Financial Consultant who helps conscious solopreneurs take ownership of money so they can stop winging it and start creating financial stability in business & life. She loves working with business owners to help them understand that "their financial past doesn't shape their financial future" in a very judgment-free kinda vibe!
Kat is the Owner + Operator of kat&co and brings a unique perspective with her psychology background and experience in creative business operations, making her adept at discussing the intersection of creativity and structured processes. Join her newsletter The kat&co Download!
Ellen is the Owner of Ellen Hockley Consulting and offers valuable insights from her extensive experience in building successful small businesses and empowering female entrepreneurs, providing practical advice on business strategy and growth.
00:00 Welcome to Good Ideas + Bad Decisions
01:06 Meet Our Special Guest: Melissa Mittelstaedt
01:54 Diving into Financial Consulting
02:46 Navigating Financial Relationships
05:18 Understanding Scarcity and Abundance Mindsets
09:39 Generational Money Mindsets
15:07 Early Financial Lessons and Family Dynamics
20:57 Melissa's Journey to Financial Consulting
24:10 The Great Pivot: Finding New Opportunities
24:52 Embracing Money and Passion Together
25:58 Challenging the Starving Artist Mentality
28:40 Mindset Shifts Towards Financial Abundance
30:02 Balancing Business and Personal Finances
32:07 The Importance of Paying Yourself
34:18 Understanding Your Business's Financial Needs
41:38 Melissa's Financial Consulting Services
45:30 Final Thoughts and Advice