Instead of focusing on how much you can save, shift to focusing and acting on how much you can earn.
Amanda Abella is a sought-after Latina millennial finance and entrepreneurship expert who is fully bilingual in verbal and written English and Spanish. After struggling to find a job for several months when she graduated from college in 2010, Amanda realized she needed to learn important life skills that would help her get ahead in her career and her finances.
She started blogging about her financial journey in November 2010 and has since created a community of over 40,000 (and growing) social media followers, email subscriber channels and podcast listeners. Millennials and Gen Xers come to her seeking business and financial advice, support and encouragement.
As the daughter of Cuban immigrants, Amanda also seeks to empower the LatinX community to improve their finances. She has worked as a marketing consulting for companies seeking to reach and engage that market. Amanda’s work includes working with companies like Intuit and Capital One as an influencer. She is also regularly quoted in large media outlets such as Forbes, Inc, Business Insider, USA Today, Mint, NerdWallet personal finance sites such as Rockstar Finance and podcasts such as Entrepreneur on Fire, Stacking Benjamins,and Side Hustle Nation.
Amanda’s background in HR, business development, positive psychology trainings and and personal finance help her create content that teaches her community the steps to gain financial confidence and literacy while overcoming financial challenges.
In 2017, Amanda launched Persuade to Profit her best-selling six-week training program for bloggers and business owners. Clients have been able to 10x their revenue, improve their marketing skills and close more sales.
Where did the idea for your company come from?
I developed Make Money Your Honey in 2013. This came as a result of interviewing over 100 blog readers and social media followers about their thoughts and attitudes toward money. I quickly learned her community was feeling very anxious about all aspects money – from making it to managing it. I also noticed that what my audience truly wanted, was to learn how to have a balanced relationship with money where they can earn, save, invest and spend in accordance with the kind of lifestyle they want.
And so, in 2014, I launched her bestselling book, Make Money Your Honey. Since then, the brand has turned into a podcast by the same name and training programs for bloggers who want to make money and have fun while doing it.
What does your typical day look like and how do you make it productive?
Typical days start with meditation before anything else. When I get to my desk, I start with sales. How many did we close the day before? What products and services are selling? Who do I need to touch base with? The rest of the day looks like consultations and working with coaching clients. Some days are more focused around content and marketing strategy, but a typical day mostly focuses on income-generating activities.
How do you bring ideas to life?
I don’t overthink things. I get an idea and act on it right away. For example, I came up with the idea to offer intensive private sales trainings. Rather than overthinking, I just started selling. Sold out right away.
What’s one trend that excites you?
I love Instagram stories as a means of engaging with my audience, showing other sides to myself and generally just having fun.
What is one habit of yours that makes you more productive as an entrepreneur?
A new habit I’ve started incorporating is going to the sauna a couple of times a week (after doing a yoga class or working out) and getting a massage once a month. I work with a lot of people, and as a coach, I have their energy coming toward me all the time. This helps me get grounded and relax. As entrepreneurs we often neglect taking care of ourselves but it’s paramount to staying productive.
What advice would you give your younger self?
When I was younger I would put other people’s feelings above my own in work situations. This led to being undervalued and underpaid. I would have told myself that no one is going to respect you if you don’t respect yourself first.
Tell us something that’s true that almost nobody agrees with you on.
You can’t frugal your way into more money. It’s impossible. You will at some point have to invest in yourself and your business. Instead of focusing on how much you can save, shift to focusing and acting on how much you can earn.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Sales sales sales. It’s what leads to the most money in the bank the fastest and it’s completely in your control.
What is one strategy that has helped you grow your business?
I’ve outsourced lots of stuff over the years. PR, management, customer service, etc. Building a team ensures that my time is spent on things that bring in the most money.
What is one failure you had as an entrepreneur, and how did you overcome it?
My first ebook totally flopped. My membership site flopped as well. I don’t tend to cry over spilled milk so I don’t stay down for too long. I also have no problem scrapping things that don’t work (and scrapping them quickly).
What is one business idea that you’re willing to give away to our readers?
Monetize your knowledge. Consult. It costs you almost nothing to get started and your brain is expensive so you can charge a premium.
What is the best $100 you recently spent? What and why?
A gym membership that includes a monthly spa treatment. It helps me unwind and decompress and SLOW DOWN.
What is one piece of software or a web service that helps you be productive? How do you use it?
My team and I recently started using ZenDesk to pull queries from all of my social media channels. My virtual assistant handles all queries from within the platform so I don’t have to.
What is the one book that you recommend our community should read and why?
I recommend reading Overcoming Underearning by Barbara Stanny to my clients all the time. It really helps you bust through some money blocks so you can earn more money and stop undervaluing yourself.
What is your favorite quote?
You can’t be grateful and fearful at the same time. I heard Tony Robbins say this when I attended his Unleash The Power Within event. I lean upon this quote every time I get anxious.
- Overthinking is just a form of procrastination. If you allow yourself too much time in between idea and implementation, that’s when self-doubt creeps and causes you to lose time. Don’t overthink, just act on your gut.
- Spend some money on yourself. Whether it’s massage or attending personal development seminars. Your own best asset is you so spend your money accordingly.
- People don’t cost you money, they make you money. Outsource, hire and build a team of rockstars that will take your business to the next level.
Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas.