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Episode 68

E68: Scaling Solo: A New Definition of Wealth with Rochelle Moulton

In this episode, the fabulous Rochelle Moulton, business coach, cohost of The Business of Authority podcast, and now(!) creator of her new podcast, Soloist Women, shares her journey from working with small boutiques to focusing primarily on soloists and creating a platform for women to share their stories and expertise. A few takeaways from Rochelle's episode:

  • Redefining Wealth:  Wealth is not just about revenue. It is the balance of what is important to you and brings you joy–whether money, free time and/or flexibility.  We each get to define our own version of wealth. This redefinition of wealth is especially important for soloist women because we often face distinct challenges due to traditionally shouldering domestic responsibilities. The perfect mix isn’t static, and may change during different seasons of business and life.
  • The Importance of Building Assets:  Don’t underestimate the value of your unique knowledge and methods. Turn your methodologies and processes into valuable assets like books or unique tools, like creating licensable content or training programs. But be careful not to fall into the trap of misfit ideas that don't align with your business model.
  • The Power of Listening: Rochelle embarked on a Listening Tour to understand the challenges soloist women face, their aspirations, and what frustrates them. By truly listening to their stories and experiences, she gained valuable insights that helped shape her offerings and connect with her audience more effectively.

I particularly love this lesson Rochelle shares about listening tours that I can’t hear often enough: “They gave me the sales copy for the landing page, because they told me stories. They told me experiences. They told me things that had happened to them. They told me what they did not want. Like they were so clear about what they didn't want. And I use that language on my website.”

Don't miss out on this empowering episode of Hourly to Exit! Tune in now on your favorite podcast platform, and let Rochelle's story inspire you to embrace your own journey to success. 🎧💫

Connect with Erin to learn how to use intellectual property to increase your income and impact. hourlytoexit.com/podcast.

Erin's LinkedIn Page: https://www.linkedin.com/in/erinaustin/

Think Beyond IP YouTube Page: https://www.youtube.com/channel/UCVztXnDYnZ83oIb-EGX9IGA/videos

Music credit: Yes She Can by Tiny Music

A Team Dklutr production

Transcript
Erin Austin:

Hello ladies.

Erin Austin:

Welcome to this week's

Erin Austin:

episode of hourly to exit.

Erin Austin:

I'm very excited about

Erin Austin:

today's guest, Rochelle

Erin Austin:

Moulton, who we've had

Erin Austin:

here before, and we have a

Erin Austin:

wonderful new conversation

Erin Austin:

about what's been happening

Erin Austin:

lately with Rochelle.

Erin Austin:

Welcome

Rochelle Moulton:

Rochelle.

Rochelle Moulton:

Oh, thank you so much, Aaron.

Rochelle Moulton:

I'm really excited

Rochelle Moulton:

to be with you.

Rochelle Moulton:

Well,

Erin Austin:

I am very excited

Erin Austin:

about this conversation.

Erin Austin:

So many exciting things

Erin Austin:

have been happening

Erin Austin:

in your business.

Erin Austin:

and I love to catch up the

Erin Austin:

audience on the new stuff.

Erin Austin:

But before we get

Erin Austin:

to that, would you

Erin Austin:

Rochelle Moulton:

Erin Austin:

introduce yourself?

Erin Austin:

Oh, sure.

Erin Austin:

So I'm Rochelle Moulton

Erin Austin:

and I help soloists

Erin Austin:

turn their expertise

Erin Austin:

into wealth and impact.

Erin Austin:

And that's a new way

Erin Austin:

for me to say what I do.

Erin Austin:

So I love having it roll off

Erin Austin:

the tongue a little easier

Erin Austin:

than it sometimes has.

Erin Austin:

It's fantastic.

Erin Austin:

We are definitely going to

Erin Austin:

have a conversation around

Erin Austin:

wealth, but I think it's

Erin Austin:

helpful to kind of back up

Erin Austin:

and talk about, where you

Erin Austin:

started in your career and

Erin Austin:

how it's evolved to get

Rochelle Moulton:

you

Rochelle Moulton:

to where you are now.

Rochelle Moulton:

Sure.

Rochelle Moulton:

So basically grew up in

Rochelle Moulton:

big firm consulting, which

Rochelle Moulton:

is not unlike big law.

Rochelle Moulton:

there's a partner track

Rochelle Moulton:

and you either get

Rochelle Moulton:

on it or you don't.

Rochelle Moulton:

And so I was there about 10

Rochelle Moulton:

years in one firm and I made

Rochelle Moulton:

partner at a really young

Rochelle Moulton:

age and I was like, wow, I've

Rochelle Moulton:

made it, this is awesome.

Rochelle Moulton:

And then it was the first time

Rochelle Moulton:

it dawned on me that Oh, no,

Rochelle Moulton:

this is just the first step.

Rochelle Moulton:

Now I have to do all

Rochelle Moulton:

this other stuff that

Rochelle Moulton:

I wasn't necessarily

Rochelle Moulton:

interested in doing.

Rochelle Moulton:

I found it challenging

Rochelle Moulton:

in those days.

Rochelle Moulton:

And it's frankly still true.

Rochelle Moulton:

There weren't as many women.

Rochelle Moulton:

there were probably about 20

Rochelle Moulton:

percent female partners when

Rochelle Moulton:

I made partner at that firm.

Rochelle Moulton:

And so those numbers

Rochelle Moulton:

haven't changed a whole lot.

Rochelle Moulton:

and eventually I just decided

Rochelle Moulton:

that I wanted to indulge

Rochelle Moulton:

my entrepreneurial side.

Rochelle Moulton:

I was tired of hiding who

Rochelle Moulton:

I was of not saying what I

Rochelle Moulton:

meant or what I wanted to say.

Rochelle Moulton:

And so I left and with

Rochelle Moulton:

a partner, I started my

Rochelle Moulton:

first consulting firm.

Rochelle Moulton:

I had that for six years.

Rochelle Moulton:

And our original strategy

Rochelle Moulton:

with that, which I know

Rochelle Moulton:

you'll appreciate was we

Rochelle Moulton:

never expected to sell

Rochelle Moulton:

it except to employees.

Rochelle Moulton:

So the idea was, it would

Rochelle Moulton:

look like the partnership

Rochelle Moulton:

that I came out of where we

Rochelle Moulton:

would sell to other employees

Rochelle Moulton:

and they would take over.

Rochelle Moulton:

We'd have partners and

Rochelle Moulton:

that was the model.

Rochelle Moulton:

and we didn't do that.

Rochelle Moulton:

instead we sold it

Rochelle Moulton:

to Arthur Anderson.

Rochelle Moulton:

the reason I'm mentioning

Rochelle Moulton:

this now is because it

Rochelle Moulton:

was really an interesting

Rochelle Moulton:

experience selling like

Rochelle Moulton:

I'd never sold a business.

Rochelle Moulton:

I never started a business.

Rochelle Moulton:

So there was a whole lot of

Rochelle Moulton:

learning and looking back

Rochelle Moulton:

now, a whole lot of touching

Rochelle Moulton:

this idea of what is wealth.

Rochelle Moulton:

What does that mean?

Rochelle Moulton:

How do I negotiate

Rochelle Moulton:

wealth for myself?

Rochelle Moulton:

and so anyway, I sold that

Rochelle Moulton:

and I went to work with

Rochelle Moulton:

Arthur Anderson, working

Rochelle Moulton:

primarily with their

Rochelle Moulton:

tax partners, teaching

Rochelle Moulton:

them how to sell better.

Rochelle Moulton:

So I worked with a lot

Rochelle Moulton:

of like really narrowly

Rochelle Moulton:

focused experts.

Rochelle Moulton:

Enron happened.

Rochelle Moulton:

So I started my second

Rochelle Moulton:

business, which was an

Rochelle Moulton:

individual coaching business.

Rochelle Moulton:

And it was interesting.

Rochelle Moulton:

It wasn't really what I

Rochelle Moulton:

wanted to do at the time

Rochelle Moulton:

because I was focused

Rochelle Moulton:

on corporate executives.

Rochelle Moulton:

And at that time, coaching was

Rochelle Moulton:

seen as something that you do

Rochelle Moulton:

just before you fire somebody.

Rochelle Moulton:

And the kind of coaching

Rochelle Moulton:

that I was doing was

Rochelle Moulton:

for high performers.

Rochelle Moulton:

And I wasn't interested

Rochelle Moulton:

in, Taking somebody

Rochelle Moulton:

who is failing.

Rochelle Moulton:

I wanted somebody who

Rochelle Moulton:

was already performing

Rochelle Moulton:

well and getting them

Rochelle Moulton:

to an even higher peak.

Rochelle Moulton:

So after that I took my

Rochelle Moulton:

last job job, which was in

Rochelle Moulton:

a fortune 500 company and

Rochelle Moulton:

they kept firing my bosses.

Rochelle Moulton:

So by the time I left,

Rochelle Moulton:

I was running a national

Rochelle Moulton:

consulting practice.

Rochelle Moulton:

And then in 2007 is when

Rochelle Moulton:

I started doing what I'm

Rochelle Moulton:

doing now, which is working

Rochelle Moulton:

primarily with people in

Rochelle Moulton:

the consulting and creative

Rochelle Moulton:

agency space, helping them

Rochelle Moulton:

to grow their business.

Rochelle Moulton:

And originally I worked,

Rochelle Moulton:

I would say maybe 50 50

Rochelle Moulton:

with partnerships and small

Rochelle Moulton:

boutiques and individuals.

Rochelle Moulton:

And now most of my

Rochelle Moulton:

practice is with soloists.

Erin Austin:

Great.

Erin Austin:

Well, that brings us up

Erin Austin:

to where we intersected.

Erin Austin:

I mean, we kind of circled

Erin Austin:

each other for a while, but

Erin Austin:

I was a happy participant

Erin Austin:

of your inaugural soloist

Erin Austin:

women's mastermind

Erin Austin:

that you did last year.

Erin Austin:

of the things that has.

Erin Austin:

Fascinated me and it still

Erin Austin:

fascinates me because I

Erin Austin:

haven't quite gotten it right

Erin Austin:

is the listening to a process

Erin Austin:

when you're thinking about,

Erin Austin:

like, talking to a new group

Erin Austin:

of people or introducing

Erin Austin:

a new offer, like, how

Erin Austin:

you kind of figure it out.

Erin Austin:

what direction you wanted to

Erin Austin:

do when you started focusing

Erin Austin:

a little bit more on soloists.

Rochelle Moulton:

Yeah.

Rochelle Moulton:

So I knew it's one of

Rochelle Moulton:

those things where you have

Rochelle Moulton:

like an inkling that you

Rochelle Moulton:

need to change something

Rochelle Moulton:

or you not even need, you

Rochelle Moulton:

want to change something.

Rochelle Moulton:

Like it's just kind of

Rochelle Moulton:

speaking to you, but it's

Rochelle Moulton:

sort of below the surface.

Rochelle Moulton:

And I just had this sense

Rochelle Moulton:

based on what was going on

Rochelle Moulton:

in the world at the time.

Rochelle Moulton:

I wanted to do something

Rochelle Moulton:

for and with women.

Rochelle Moulton:

I didn't know if

Rochelle Moulton:

this would work.

Rochelle Moulton:

When you look at consulting,

Rochelle Moulton:

it's still pretty much

Rochelle Moulton:

75 percent male in the

Rochelle Moulton:

independent space, at least

Rochelle Moulton:

at about 25 percent female.

Rochelle Moulton:

I never really thought

Rochelle Moulton:

about, do I serve men?

Rochelle Moulton:

Do I serve women?

Rochelle Moulton:

I serve consultants who want

Rochelle Moulton:

to grow their businesses.

Rochelle Moulton:

I was agnostic.

Rochelle Moulton:

but I felt like there was an

Rochelle Moulton:

opportunity to help women that

Rochelle Moulton:

were not achieving what they

Rochelle Moulton:

wanted to in a different way.

Rochelle Moulton:

So, the idea behind the

Rochelle Moulton:

listening tour was I wanted

Rochelle Moulton:

to see are there Other

Rochelle Moulton:

women like me who hadn't

Rochelle Moulton:

joined any women's groups,

Rochelle Moulton:

like I literally hadn't.

Rochelle Moulton:

I mean, over the years I have,

Rochelle Moulton:

but not when it came to this,

Rochelle Moulton:

like, I just didn't think of

Rochelle Moulton:

gender as a differentiator.

Rochelle Moulton:

And so, I pulled a group

Rochelle Moulton:

of people together and

Rochelle Moulton:

when I say group, I talked

Rochelle Moulton:

to them individually,

Rochelle Moulton:

but I found some women.

Rochelle Moulton:

Thank you, Aaron, who

Rochelle Moulton:

would agree to give me

Rochelle Moulton:

some, straight feedback.

Rochelle Moulton:

And this idea I had

Rochelle Moulton:

was a mastermind.

Rochelle Moulton:

And the reason I was thinking

Rochelle Moulton:

it was a mastermind is

Rochelle Moulton:

because there's so much

Rochelle Moulton:

in the heads of women that

Rochelle Moulton:

doesn't get shared, right?

Rochelle Moulton:

It's in there.

Rochelle Moulton:

Or if it's in a group

Rochelle Moulton:

with men as well as women.

Rochelle Moulton:

We as women often tamp

Rochelle Moulton:

down what we have to

Rochelle Moulton:

say, or we get silenced

Rochelle Moulton:

a little bit too readily.

Rochelle Moulton:

So what I wanted to test

Rochelle Moulton:

with the listening tour

Rochelle Moulton:

was, first of all, what are

Rochelle Moulton:

the problems and challenges

Rochelle Moulton:

that these women had?

Rochelle Moulton:

What have they tried?

Rochelle Moulton:

To, solve them, what worked,

Rochelle Moulton:

what didn't work, what were

Rochelle Moulton:

their frustrations and if

Rochelle Moulton:

they could wave a magic

Rochelle Moulton:

one, I always love to ask

Rochelle Moulton:

the magic one question,

Rochelle Moulton:

if they could wave a magic

Rochelle Moulton:

wand, what would that look

Rochelle Moulton:

like, what would change?

Rochelle Moulton:

and as I went through that

Rochelle Moulton:

process, I had an idea of what

Rochelle Moulton:

this thing would look like.

Rochelle Moulton:

And then at the end of the

Rochelle Moulton:

conversation, I'd say, okay,

Rochelle Moulton:

so if it looked like this.

Rochelle Moulton:

and I can't remember now

Rochelle Moulton:

if I had a number in mind,

Rochelle Moulton:

but I didn't, share the

Rochelle Moulton:

number and I said, so what

Rochelle Moulton:

would you pay for this and

Rochelle Moulton:

what would make, you know,

Rochelle Moulton:

that it was a good thing.

Rochelle Moulton:

one of the reasons I'm

Rochelle Moulton:

really glad I did it is one.

Rochelle Moulton:

They gave me.

Rochelle Moulton:

The sales copy for the

Rochelle Moulton:

landing page, because

Rochelle Moulton:

they told me stories.

Rochelle Moulton:

They told me experiences.

Rochelle Moulton:

They told me things that

Rochelle Moulton:

had happened to them.

Rochelle Moulton:

They told me what

Rochelle Moulton:

they did not want.

Rochelle Moulton:

Like they were so clear

Rochelle Moulton:

about what they didn't want.

Rochelle Moulton:

And I use that

Rochelle Moulton:

language on my website.

Rochelle Moulton:

and then the other thing they

Rochelle Moulton:

told me is, and I love this

Rochelle Moulton:

because this is part of what

Rochelle Moulton:

monetize their expertise.

Rochelle Moulton:

They said, you're

Rochelle Moulton:

too low by half.

Rochelle Moulton:

And that was kind of

Rochelle Moulton:

the consistent message.

Rochelle Moulton:

So I doubled the number and

Rochelle Moulton:

there were still, think,

Rochelle Moulton:

two people who thought it, I

Rochelle Moulton:

should have doubled it again.

Rochelle Moulton:

And, but it was like,

Rochelle Moulton:

yeah, I can see I'm

Rochelle Moulton:

going to double it.

Rochelle Moulton:

I'm not going to quadruple it.

Rochelle Moulton:

Let's start with the double.

Rochelle Moulton:

we had a good first cohort.

Rochelle Moulton:

So what I loved about the

Rochelle Moulton:

listening tour and why I like

Rochelle Moulton:

it for people in our kinds

Rochelle Moulton:

of businesses in our kinds of

Rochelle Moulton:

space is that it allows you.

Rochelle Moulton:

To not sell.

Rochelle Moulton:

I mean, I was not

Rochelle Moulton:

there to sell.

Rochelle Moulton:

I was there to listen and

Rochelle Moulton:

they taught me so much.

Rochelle Moulton:

And then what was really

Rochelle Moulton:

interesting is they did allow

Rochelle Moulton:

me to use them as a sounding

Rochelle Moulton:

board when I put together the

Rochelle Moulton:

first sales copy to say, does

Rochelle Moulton:

this sound like what you said?

Rochelle Moulton:

And a couple of people

Rochelle Moulton:

are like, I don't like.

Rochelle Moulton:

That number, like

Rochelle Moulton:

there was a revenue

Rochelle Moulton:

requirement for purchase.

Rochelle Moulton:

So like, no, that's too low.

Rochelle Moulton:

I think it should be higher.

Rochelle Moulton:

So yeah, I definitely

Rochelle Moulton:

recommend listening

Rochelle Moulton:

tours and it really

Rochelle Moulton:

gave me the confidence.

Rochelle Moulton:

I was still scared.

Rochelle Moulton:

I was nervous about it.

Rochelle Moulton:

I'll be honest.

Rochelle Moulton:

but it gave me the confidence

Rochelle Moulton:

that there are women out

Rochelle Moulton:

there sort of like me.

Rochelle Moulton:

Right.

Rochelle Moulton:

Who wanted this certain

Rochelle Moulton:

kind of experience and

Rochelle Moulton:

hadn't found it yet.

Erin Austin:

right, yeah,

Erin Austin:

was very inspired by your

Erin Austin:

listening to our both, the

Erin Austin:

way that you conducted yours

Erin Austin:

and the way you explain it

Erin Austin:

and it's been a struggle for

Erin Austin:

me like you said, it's not

Erin Austin:

a sales pitch, but there's

Erin Austin:

somewhere in the back of

Erin Austin:

my brain that kind of feels

Erin Austin:

like, I'm asking a lot when

Erin Austin:

I ask for the feedback.

Erin Austin:

And so that's something I'm

Erin Austin:

still working on my ability to

Erin Austin:

kind of, do more than a couple

Erin Austin:

then I kind of get like, okay,

Erin Austin:

this is, asking for too much.

Erin Austin:

And,

Rochelle Moulton:

you

Rochelle Moulton:

know, it helps with that.

Rochelle Moulton:

I used to do a lot of,

Rochelle Moulton:

client interviews, client

Rochelle Moulton:

slash customer interviews.

Rochelle Moulton:

And so in those cases, I'm

Rochelle Moulton:

I wasn't with the firm.

Rochelle Moulton:

I was independent.

Rochelle Moulton:

And so I would ask them

Rochelle Moulton:

everything so comfortable

Rochelle Moulton:

because I, yeah, it wasn't me.

Rochelle Moulton:

And so I think sometimes

Rochelle Moulton:

if, we can not make it so

Rochelle Moulton:

personal and think of it

Rochelle Moulton:

as, Oh, well, what if I

Rochelle Moulton:

were interviewing for my

Rochelle Moulton:

company, but it wasn't mine?

Rochelle Moulton:

how would I approach

Rochelle Moulton:

it differently?

Rochelle Moulton:

Sometimes that helps to kind

Rochelle Moulton:

of get out of our own way.

Rochelle Moulton:

Well, maybe this goes

Erin Austin:

to the issue

Erin Austin:

of soloist women and having

Erin Austin:

them be their own cohort

Erin Austin:

is as opposed to with, men.

Erin Austin:

And did you find, and do you

Erin Austin:

find that women have just

Erin Austin:

different challenges about

Erin Austin:

selling themselves and putting

Erin Austin:

themselves out there than men

Rochelle Moulton:

do?

Rochelle Moulton:

I feel that's such

Rochelle Moulton:

a loaded question.

Rochelle Moulton:

I'm almost afraid

Rochelle Moulton:

to answer that.

Rochelle Moulton:

I mean, the general answer

Rochelle Moulton:

is yes, I think that's true.

Rochelle Moulton:

I mean, it can be different

Rochelle Moulton:

for individual men and women,

Rochelle Moulton:

of course, but the challenges

Rochelle Moulton:

generally that I see with

Rochelle Moulton:

women are that they often.

Rochelle Moulton:

I shouldn't say they, we often

Rochelle Moulton:

have responsibility for a

Rochelle Moulton:

big chunk of the home stuff

Rochelle Moulton:

and it's so wrapped up in

Rochelle Moulton:

our identity that it becomes

Rochelle Moulton:

really difficult to make

Rochelle Moulton:

powerful decisions because we

Rochelle Moulton:

think we don't have any power.

Rochelle Moulton:

Oh, we need to have this.

Rochelle Moulton:

Time off, we need

Rochelle Moulton:

to be flexible.

Rochelle Moulton:

We need to do this.

Rochelle Moulton:

So we can't ask for as

Rochelle Moulton:

much as someone who isn't.

Rochelle Moulton:

And I like to turn the tables

Rochelle Moulton:

on that and say, actually,

Rochelle Moulton:

we can ask for more when

Rochelle Moulton:

we're in that situation.

Rochelle Moulton:

So that's the

Rochelle Moulton:

biggest difference.

Rochelle Moulton:

The other one.

Rochelle Moulton:

but let me just tell you

Rochelle Moulton:

a quick story of something

Rochelle Moulton:

that literally happened is

Rochelle Moulton:

2 things happened in the

Rochelle Moulton:

same day, which is probably

Rochelle Moulton:

why they, struck me.

Rochelle Moulton:

So, I had a, male client

Rochelle Moulton:

who was getting ready to

Rochelle Moulton:

publish a book, and he was

Rochelle Moulton:

going to look for blurbs,

Rochelle Moulton:

from, famous quote unquote

Rochelle Moulton:

people in his circle and

Rochelle Moulton:

he's like, oh, Is going to be

Rochelle Moulton:

delighted to get this from me.

Rochelle Moulton:

Like he just looked at it.

Rochelle Moulton:

Like, of course, they're

Rochelle Moulton:

going to want to help me.

Rochelle Moulton:

This is good for them.

Rochelle Moulton:

Their name is going

Rochelle Moulton:

to be in my book.

Rochelle Moulton:

And then there

Rochelle Moulton:

was another woman.

Rochelle Moulton:

Kind of same situation.

Rochelle Moulton:

And she said, I'm going to

Rochelle Moulton:

get anybody to book anything.

Rochelle Moulton:

That's the difference, right?

Rochelle Moulton:

There.

Rochelle Moulton:

Right.

Rochelle Moulton:

Got one just assuming

Rochelle Moulton:

everybody wants to join

Rochelle Moulton:

in and somebody else

Rochelle Moulton:

going, how can I do that?

Rochelle Moulton:

So sometimes that's

Rochelle Moulton:

the difference, but

Rochelle Moulton:

again, it doesn't always

Rochelle Moulton:

apply individuals.

Rochelle Moulton:

There's plenty of very

Rochelle Moulton:

powerful and outspoken,

Rochelle Moulton:

strong women in this

Erin Austin:

space.

Erin Austin:

Absolutely.

Erin Austin:

Well, you mentioned, wealth.

Erin Austin:

And so, as, the listeners may

Erin Austin:

know, and you know that when

Erin Austin:

I started, think beyond IP and

Erin Austin:

the early exit podcast, it was

Erin Austin:

to help, put more wealth in

Erin Austin:

the hands of women, because I

Erin Austin:

think wealth in the hands of

Erin Austin:

women can change the world.

Erin Austin:

And, but that there was this,

Erin Austin:

Bias against kind of the term

Erin Austin:

wealth and that we think of

Erin Austin:

greed and wealth sometimes

Erin Austin:

in the same sentence.

Erin Austin:

And certainly we have

Erin Austin:

these examples in

Erin Austin:

popular, in media of.

Erin Austin:

Greedy, wealthy people.

Erin Austin:

And so maybe there's a little

Erin Austin:

bit of negativity attached

Erin Austin:

to it, but obviously,

Erin Austin:

you know, wealth is power

Erin Austin:

is a voice is choice or

Erin Austin:

options, like all those

Erin Austin:

things that are benefits.

Erin Austin:

So how have you found

Erin Austin:

the wealth conversation

Erin Austin:

in the context of women?

Erin Austin:

Rochelle Moulton:

Erin Austin:

Well, it's interesting.

Erin Austin:

This is, it's fairly new for

Erin Austin:

me to use the word wealth and

Erin Austin:

I pondered over it and what's.

Erin Austin:

Let's be honest.

Erin Austin:

I agonized over it for

Erin Austin:

weeks using that term

Erin Austin:

because I felt like it was

Erin Austin:

so laden with, judgment

Erin Austin:

and it could be wealth

Erin Austin:

the way you described it.

Erin Austin:

It's a bunch of greedy

Erin Austin:

billionaires who, are

Erin Austin:

not worried about the

Erin Austin:

rest of the world.

Erin Austin:

there's other people who

Erin Austin:

think about, well, wealth is

Erin Austin:

not something that I want.

Erin Austin:

Wealth is like money is bad.

Erin Austin:

Money's the root of all

Erin Austin:

evil, kind of like that,

Erin Austin:

that sort of thing.

Erin Austin:

I think that the reason I

Erin Austin:

started using the word wealth

Erin Austin:

is revenue wasn't enough.

Erin Austin:

in this ethos that I'm

Erin Austin:

trying to create, because

Erin Austin:

yes, we need revenue, but

Erin Austin:

it, in, this community

Erin Austin:

that I'm building, it's not

Erin Austin:

about working the maximum

Erin Austin:

to get the maximum revenue.

Erin Austin:

It's not about that,

Erin Austin:

like bro hustle model.

Erin Austin:

It's about, having

Erin Austin:

enough free time to do

Erin Austin:

whatever it is that.

Erin Austin:

Make it brings you joy,

Erin Austin:

whether that's your kids

Erin Austin:

or a hobby or you're

Erin Austin:

donating your time, in

Erin Austin:

another part of the world,

Erin Austin:

whatever that looks like.

Erin Austin:

and then the flexibility.

Erin Austin:

So it's free time and

Erin Austin:

then the flexibility

Erin Austin:

and how you use it.

Erin Austin:

So you don't have to

Erin Austin:

be seated at a desk.

Erin Austin:

You don't necessarily have

Erin Austin:

to be, at any one spot in

Erin Austin:

any one, city town, you

Erin Austin:

can be wherever you want.

Erin Austin:

And so the way I

Erin Austin:

look at wealth.

Erin Austin:

In this context is

Erin Austin:

that we each define our

Erin Austin:

own version of wealth.

Erin Austin:

So what I might describe as

Erin Austin:

wealth to me might be a lot

Erin Austin:

less money than you make.

Erin Austin:

I might have a lot

Erin Austin:

more free time, or it

Erin Austin:

might be a lot more.

Erin Austin:

And I keep it and invest

Erin Austin:

it for my future, or I

Erin Austin:

give a bunch of it away,

Erin Austin:

support the causes that

Erin Austin:

really matter to me.

Erin Austin:

And you said, that about

Erin Austin:

putting more wealth in the

Erin Austin:

hands of women, I mean,

Erin Austin:

that's my underlying, big idea

Erin Austin:

slash revolution in this is

Erin Austin:

I do want to see women have

Erin Austin:

more money and more power.

Erin Austin:

It's in my voice just

Erin Austin:

cracked when I said power.

Erin Austin:

I want to say that again.

Erin Austin:

I do want women to have more

Erin Austin:

money and more power because

Erin Austin:

studies show when women

Erin Austin:

have more money, we use it

Erin Austin:

to the benefit of humanity.

Erin Austin:

We use it for our families.

Erin Austin:

We use it for our communities.

Erin Austin:

We use it for a big idea.

Erin Austin:

We use it globally.

Erin Austin:

And that's, yes, that's

Erin Austin:

what I get goosebumps

Erin Austin:

whenever I think about that.

Erin Austin:

Yes,

Erin Austin:

absolutely.

Erin Austin:

That is, I mean, and

Erin Austin:

it is the thing that.

Erin Austin:

personally keeps me going

Erin Austin:

as I continue to, kind of

Erin Austin:

figure out the best way to

Erin Austin:

help women achieve that.

Erin Austin:

And, the way I looked at it.

Erin Austin:

I mean, you definitely have

Erin Austin:

this balance of, time and

Erin Austin:

flexibility and kind of

Erin Austin:

various elements of wealth.

Erin Austin:

And I will say that mine was.

Erin Austin:

More one dimensional and

Erin Austin:

literally in terms of, the

Erin Austin:

traditional way we think we

Erin Austin:

define wealth, but that for

Erin Austin:

people to, stop thinking

Erin Austin:

just about income, because

Erin Austin:

it's very limiting, right?

Erin Austin:

Like that it's just about

Erin Austin:

the, cash that flows in, but

Erin Austin:

it's, what are you building?

Erin Austin:

that was the conversation

Erin Austin:

about building assets and

Erin Austin:

having something that can,

Erin Austin:

run without you, or that

Erin Austin:

perhaps you can sell someday.

Erin Austin:

And that so long as we're

Erin Austin:

selling our time, we can

Erin Austin:

never have more than income.

Erin Austin:

We can't create, true

Erin Austin:

wealth with that.

Erin Austin:

And so that was, my point

Erin Austin:

of view, talking about the

Erin Austin:

creation of assets and using

Erin Austin:

our expertise to create IP.

Rochelle Moulton:

Yeah.

Rochelle Moulton:

Well, you know, it's funny.

Rochelle Moulton:

I had a real taste of the

Rochelle Moulton:

physicality of that a few

Rochelle Moulton:

years ago, just before

Rochelle Moulton:

the pandemic, I started a

Rochelle Moulton:

property business with a

Rochelle Moulton:

friend of mine and we bought

Rochelle Moulton:

our first property and we

Rochelle Moulton:

just sold it this year.

Rochelle Moulton:

I literally built some

Rochelle Moulton:

wealth with that, and it

Rochelle Moulton:

was really kind of cool

Rochelle Moulton:

because it's physical.

Rochelle Moulton:

You can go look at it.

Rochelle Moulton:

It's not like it's

Rochelle Moulton:

a bank account.

Rochelle Moulton:

It's in this case, you

Rochelle Moulton:

could argue it's my IP.

Rochelle Moulton:

It was really more

Rochelle Moulton:

like my vision my like.

Rochelle Moulton:

Arms.

Rochelle Moulton:

Yeah.

Rochelle Moulton:

Some of the work that I wound

Rochelle Moulton:

up doing myself took some

Rochelle Moulton:

time, but I could literally

Rochelle Moulton:

see it and see it change

Rochelle Moulton:

and see the value grow.

Rochelle Moulton:

And there's something really

Rochelle Moulton:

powerful about seeing you

Rochelle Moulton:

build wealth for yourself

Rochelle Moulton:

and inside your business.

Rochelle Moulton:

it's very.

Rochelle Moulton:

Empowering, I guess.

Erin Austin:

I agree.

Erin Austin:

And so, well, you know,

Erin Austin:

real estate is real property

Erin Austin:

as opposed to, but I liked

Erin Austin:

it, but I like to make the

Erin Austin:

analogy to real property.

Erin Austin:

Whenever I'm trying to

Erin Austin:

explain, I'm always with

Erin Austin:

analogies, you know,

Erin Austin:

to try to help make

Erin Austin:

concrete intellectual

Erin Austin:

property concepts.

Erin Austin:

And I like to use the

Erin Austin:

example of real property.

Erin Austin:

when you think

Erin Austin:

about, can I just.

Erin Austin:

Use something just because

Erin Austin:

it's available on the

Erin Austin:

Internet, kind of like

Erin Austin:

somebody's pasture that,

Erin Austin:

seems like it's free.

Erin Austin:

I can walk on it and

Erin Austin:

use it and borrow it and

Erin Austin:

hunt on it or do whatever

Erin Austin:

I want to do on it.

Erin Austin:

Like, no, that's somebody

Erin Austin:

owns that and you need

Erin Austin:

permission to use it.

Erin Austin:

And the same thing applies to.

Erin Austin:

Intangible assets as well.

Erin Austin:

It's the exact same concept.

Erin Austin:

You don't just get to use

Erin Austin:

other people's property just

Erin Austin:

because you can stumble upon

Erin Austin:

it, in the wild, so to speak.

Erin Austin:

And so, yeah, make sure people

Erin Austin:

understand that intellectual

Erin Austin:

property is a real asset.

Rochelle Moulton:

Yeah.

Rochelle Moulton:

And I think, I don't know

Rochelle Moulton:

if you find this to be

Rochelle Moulton:

true, but I find with some

Rochelle Moulton:

of the, clients that I've

Rochelle Moulton:

worked with, they don't.

Rochelle Moulton:

Really realize

Rochelle Moulton:

what's there, right?

Rochelle Moulton:

They know.

Rochelle Moulton:

Oh, yeah, I know this stuff

Rochelle Moulton:

and it's almost like we

Rochelle Moulton:

discount, our genius, right?

Rochelle Moulton:

The things that we're really

Rochelle Moulton:

good at and the things that

Rochelle Moulton:

we've developed, unless

Rochelle Moulton:

it's like, just staring you

Rochelle Moulton:

in the face, like, maybe

Rochelle Moulton:

it's an assessment tool

Rochelle Moulton:

or something like that.

Rochelle Moulton:

But, yeah, we tend

Rochelle Moulton:

to undervalue that.

Rochelle Moulton:

And I think.

Rochelle Moulton:

it's across our industry.

Rochelle Moulton:

I suspect it's just

Rochelle Moulton:

because it's not usually

Rochelle Moulton:

a physical product.

Rochelle Moulton:

So we think about it

Rochelle Moulton:

differently, but we

Rochelle Moulton:

need to change that.

Erin Austin:

Yeah.

Erin Austin:

Well, what, plans do you have

Erin Austin:

for your soloist community?

Erin Austin:

Like what soloist

Erin Austin:

women community

Rochelle Moulton:

like?

Rochelle Moulton:

So I just started the

Rochelle Moulton:

community in May we're

Rochelle Moulton:

in the last day of almost

Rochelle Moulton:

the last day of September

Rochelle Moulton:

as we're recording this.

Rochelle Moulton:

so far what it's been

Rochelle Moulton:

is a place for women

Rochelle Moulton:

who are, soloists in the

Rochelle Moulton:

expertise space and B2B.

Rochelle Moulton:

Right to have some really

Rochelle Moulton:

interesting conversations

Rochelle Moulton:

and to have them as a group.

Rochelle Moulton:

So there's people in there who

Rochelle Moulton:

are just starting and there

Rochelle Moulton:

are people who are earning,

Rochelle Moulton:

a half a million dollars.

Rochelle Moulton:

Plus.

Rochelle Moulton:

So it's a mix.

Rochelle Moulton:

And then the other thing that

Rochelle Moulton:

I did based on feedback from

Rochelle Moulton:

the original listening to her.

Rochelle Moulton:

Is that I also divided

Rochelle Moulton:

the group by revenue.

Rochelle Moulton:

So there's the first

Rochelle Moulton:

hundred thousand.

Rochelle Moulton:

These are the people who

Rochelle Moulton:

are working to make their

Rochelle Moulton:

first hundred thousand

Rochelle Moulton:

in their business.

Rochelle Moulton:

There's a hundred thousand

Rochelle Moulton:

to two 50, which is

Rochelle Moulton:

kind of another sort

Rochelle Moulton:

of demarcation line.

Rochelle Moulton:

And then there's 250,

Rochelle Moulton:

000 plus, and those are

Rochelle Moulton:

semi private spaces.

Rochelle Moulton:

Cause everybody only gets

Rochelle Moulton:

invited to one cohort

Rochelle Moulton:

and you can graduate.

Rochelle Moulton:

Right.

Rochelle Moulton:

That's the beauty of it.

Rochelle Moulton:

You can go to the next one up.

Rochelle Moulton:

And so what I wanted

Rochelle Moulton:

was I wanted a place for

Rochelle Moulton:

women at varying stages

Rochelle Moulton:

to help each other and

Rochelle Moulton:

be able to ask questions.

Rochelle Moulton:

But I also wanted there to

Rochelle Moulton:

be a private semi private

Rochelle Moulton:

space where, you know,

Rochelle Moulton:

you're talking to other

Rochelle Moulton:

people that are roughly at

Rochelle Moulton:

your stage of evolution.

Rochelle Moulton:

So that's where we are now.

Rochelle Moulton:

My plan going into the fall

Rochelle Moulton:

is to have probably monthly

Rochelle Moulton:

get togethers where Either

Rochelle Moulton:

we've invited a guest to come

Rochelle Moulton:

in and talk about something

Rochelle Moulton:

really critical to our

Rochelle Moulton:

businesses, you know, like

Rochelle Moulton:

intellectual property as an

Rochelle Moulton:

example, and the 1st, 1 that

Rochelle Moulton:

we're going to do is going to

Rochelle Moulton:

be more of a get to know you.

Rochelle Moulton:

I have a little,

Rochelle Moulton:

technique in mind for us

Rochelle Moulton:

to be able to do that.

Rochelle Moulton:

Cause it's harder, as you

Rochelle Moulton:

know, virtually it can be

Rochelle Moulton:

harder to really get to know

Rochelle Moulton:

people, but, because there is

Rochelle Moulton:

a curated process for this,

Rochelle Moulton:

I've spoken to every single

Rochelle Moulton:

woman that's in the group.

Rochelle Moulton:

So I have a sense of kind

Rochelle Moulton:

of who they are and where

Rochelle Moulton:

they're coming from, where

Rochelle Moulton:

in the world they live.

Rochelle Moulton:

that's really

Rochelle Moulton:

interesting mix as well.

Rochelle Moulton:

And so I'm, Looking to kind

Rochelle Moulton:

of get them to help each other

Rochelle Moulton:

and then we'll go from there.

Rochelle Moulton:

Do

Erin Austin:

you find

Erin Austin:

it difficult to jump

Erin Austin:

between the income tiers?

Erin Austin:

Like, do they have

Erin Austin:

significantly different

Erin Austin:

challenges and how

Erin Austin:

you work with them?

Erin Austin:

Rochelle Moulton:

Erin Austin:

it's interesting.

Erin Austin:

I generally, yes.

Erin Austin:

Now, most of my like one to

Erin Austin:

one clients, very few are

Erin Austin:

under a hundred thousand

Erin Austin:

because of the way I structure

Erin Austin:

my offerings and their cost.

Erin Austin:

I've worked with some, but

Erin Austin:

yeah, they are different but

Erin Austin:

it's different in a cool way.

Erin Austin:

Like the, earlier ones,

Erin Austin:

what they're trying to

Erin Austin:

do is they're trying to

Erin Austin:

figure out how do I make

Erin Austin:

this business sustainable?

Erin Austin:

And I've just arbitrarily

Erin Austin:

chosen a hundred

Erin Austin:

thousand dollars.

Erin Austin:

I mean, you could have

Erin Austin:

a sustainable business

Erin Austin:

at a much lower.

Erin Austin:

Revenue point than that,

Erin Austin:

depending on what you want

Erin Austin:

to create and how much

Erin Austin:

time you want to spend.

Erin Austin:

A lot of these women have

Erin Austin:

been doing this for, a year

Erin Austin:

to maybe two or three years

Erin Austin:

and they're figuring it out.

Erin Austin:

And so their questions are

Erin Austin:

actually, they tend to be

Erin Austin:

pretty deep and structural.

Erin Austin:

Like just as an example, one

Erin Austin:

of the conversations that

Erin Austin:

came up recently is, okay.

Erin Austin:

They, actually this

Erin Austin:

came from your guesting

Erin Austin:

on soloist women.

Erin Austin:

I just remembered that it came

Erin Austin:

exactly out after that, aired.

Erin Austin:

And they said, okay, I know

Erin Austin:

I need create something

Erin Austin:

else beyond just my

Erin Austin:

time, but how do I do it?

Erin Austin:

Like I'm so busy, I don't

Erin Austin:

have any extra time.

Erin Austin:

And what I, encourage them

Erin Austin:

to think about in this case,

Erin Austin:

I would not have said the

Erin Austin:

same thing if they were in a

Erin Austin:

different revenue category,

Erin Austin:

but I said, all right, what

Erin Austin:

you need to do first is prove

Erin Austin:

that you have a business.

Erin Austin:

That it's sustainable,

Erin Austin:

that you're going to

Erin Austin:

have clients or buyers.

Erin Austin:

You need to test out

Erin Austin:

these things before you

Erin Austin:

worry about how you're

Erin Austin:

going to leverage them.

Erin Austin:

Let's figure it out first and

Erin Austin:

let's, not borrow trouble yet.

Erin Austin:

Let's do that next

Erin Austin:

after you get here.

Erin Austin:

So that's different.

Erin Austin:

I think the other thing that's

Erin Austin:

different is the, the 100

Erin Austin:

to the two 50, especially.

Erin Austin:

You know, I'd say about

Erin Austin:

maybe 175 and under, usually

Erin Austin:

they're at the point where

Erin Austin:

they're like, what I call

Erin Austin:

the gilded hamster wheel.

Erin Austin:

They're working a lot.

Erin Austin:

They're getting

Erin Austin:

paid very well.

Erin Austin:

when we earn those, that

Erin Austin:

kind of money in our

Erin Austin:

businesses, we usually take

Erin Austin:

home a lot of that, right.

Erin Austin:

It's not like having a

Erin Austin:

shop or a storefront.

Erin Austin:

And so they, are kind

Erin Austin:

of stuck on that.

Erin Austin:

Wheel and they have to figure

Erin Austin:

out, okay, now I know that I

Erin Austin:

don't want to do this thing

Erin Austin:

that I've been doing, and I

Erin Austin:

want to do more of this thing.

Erin Austin:

So how do I leverage that?

Erin Austin:

Am I going to create a thing

Erin Austin:

for a lot of people to buy?

Erin Austin:

Am I going to change

Erin Austin:

how I price these?

Erin Austin:

Am I going to

Erin Austin:

productize some things?

Erin Austin:

So those are their questions.

Erin Austin:

And then the two fifties and

Erin Austin:

up, I mean, they're just,

Erin Austin:

They got it figured out.

Erin Austin:

They've got the basics,

Erin Austin:

but what happens is, and

Erin Austin:

it's really, it's fun.

Erin Austin:

And I know nobody's going

Erin Austin:

to cry for these kinds of

Erin Austin:

problems, but they really

Erin Austin:

are interesting problems.

Erin Austin:

It's you get to this point

Erin Austin:

and you say, okay, I think

Erin Austin:

I can help more people.

Erin Austin:

How can I do that?

Erin Austin:

And remember, this is

Erin Austin:

a soloist community.

Erin Austin:

So how can I do that

Erin Austin:

without hiring employees?

Erin Austin:

Do I hire contractors?

Erin Austin:

Do I hire it all?

Erin Austin:

How do I do that?

Erin Austin:

And so they're grappling

Erin Austin:

usually with those

Erin Austin:

kinds of questions.

Erin Austin:

Or sometimes what they've done

Erin Austin:

is they've said, all right,

Erin Austin:

created a great business,

Erin Austin:

really happy with it.

Erin Austin:

Now I have this personal thing

Erin Austin:

that I really want to do now.

Erin Austin:

And so what I want to do is

Erin Austin:

I want to get my business

Erin Austin:

running so it can kind of

Erin Austin:

run without me so that I can

Erin Austin:

focus on this revolution,

Erin Austin:

this big idea of something I

Erin Austin:

want to change in the world.

Erin Austin:

Yeah.

Erin Austin:

Yeah.

Erin Austin:

I like that.

Erin Austin:

And all of those.

Erin Austin:

stages, it reminds me of

Erin Austin:

when I have someone come to

Erin Austin:

me where they want to create

Erin Austin:

some sort of, licensing

Erin Austin:

program out of what they do

Erin Austin:

and they do it not because

Erin Austin:

they're at capacity, but

Erin Austin:

because maybe they're what I

Erin Austin:

want isn't selling that well.

Erin Austin:

So they want to take what

Erin Austin:

they're doing and create

Erin Austin:

this other revenue stream.

Erin Austin:

But similar to your.

Erin Austin:

Advice to your 1st year,

Erin Austin:

like, we'll 1st figure

Erin Austin:

out, make sure that your

Erin Austin:

services are working and

Erin Austin:

that they are they provide

Erin Austin:

the desired result and that

Erin Austin:

there is a demand for them.

Erin Austin:

And then when you bump

Erin Austin:

up against the impact

Erin Austin:

or capacity issue.

Erin Austin:

That you're hired your clients

Erin Austin:

have that's when you've

Erin Austin:

proven, your methodology or

Erin Austin:

your service, whatever it

Erin Austin:

is, you have happy clients,

Erin Austin:

you're at capacity 1 way or

Erin Austin:

the other, that's the time

Erin Austin:

to, build these other things.

Erin Austin:

Not when you're still trying

Erin Austin:

to figure out the business.

Erin Austin:

Yeah.

Rochelle Moulton:

Yeah.

Rochelle Moulton:

Cause I mean, we put so

Rochelle Moulton:

much pressure on ourselves,

Rochelle Moulton:

you know, and it's,

Rochelle Moulton:

there's only so many things

Rochelle Moulton:

we can tackle at once.

Rochelle Moulton:

And so let's tackle the

Rochelle Moulton:

things where we're going

Rochelle Moulton:

to get the best result, the

Rochelle Moulton:

biggest bang for effort.

Erin Austin:

Right.

Erin Austin:

Yeah, I love that.

Erin Austin:

So for 2024, what do you see?

Erin Austin:

What do we need

Erin Austin:

to worry about?

Erin Austin:

What should we be happy about?

Rochelle Moulton:

Ooh,

Rochelle Moulton:

that's a big question.

Rochelle Moulton:

you know, it's interesting

Rochelle Moulton:

because I mean, who knows what

Rochelle Moulton:

the economy is going to do?

Rochelle Moulton:

That's kind of

Rochelle Moulton:

the big question.

Rochelle Moulton:

And I just had a long

Rochelle Moulton:

conversation with someone

Rochelle Moulton:

yesterday who is in the

Rochelle Moulton:

startup space and the

Rochelle Moulton:

startup space people have

Rochelle Moulton:

just had a heck of a year

Rochelle Moulton:

with the real tightening

Rochelle Moulton:

of venture capital money.

Rochelle Moulton:

And so people who

Rochelle Moulton:

serve that space have

Rochelle Moulton:

really been impacted.

Rochelle Moulton:

So, and I was asking

Rochelle Moulton:

her, so what's your.

Rochelle Moulton:

Projection like, what do

Rochelle Moulton:

you, is it going to be

Rochelle Moulton:

better, worse, the same?

Rochelle Moulton:

And she said, I think it's

Rochelle Moulton:

going to be close to the

Rochelle Moulton:

same, but there will be

Rochelle Moulton:

some lightning of money

Rochelle Moulton:

available for the right ideas.

Rochelle Moulton:

So I guess the question

Rochelle Moulton:

becomes, and you know,

Rochelle Moulton:

I'm not an economist who

Rochelle Moulton:

knows what the answer is,

Rochelle Moulton:

but optimistically at for

Rochelle Moulton:

soloists in particular.

Rochelle Moulton:

And here's why one

Rochelle Moulton:

is that I think jobs

Rochelle Moulton:

are getting tighter.

Rochelle Moulton:

And we had a lot of people,

Rochelle Moulton:

especially in the tech sector

Rochelle Moulton:

that were let go this last

Rochelle Moulton:

year, who started businesses,

Rochelle Moulton:

even if they didn't want to,

Rochelle Moulton:

if they hadn't planned to, you

Rochelle Moulton:

can start a soloist business

Rochelle Moulton:

without a lot of capital.

Rochelle Moulton:

You just need enough to cover

Rochelle Moulton:

your own expenses, you know,

Rochelle Moulton:

and if you don't have a laptop

Rochelle Moulton:

already, okay, so you buy 1.

Rochelle Moulton:

but there's not a lot

Rochelle Moulton:

of expenses around this.

Rochelle Moulton:

So I think what will

Rochelle Moulton:

happen is more and more,

Rochelle Moulton:

especially women will

Rochelle Moulton:

continue to do this.

Rochelle Moulton:

The other thing that's

Rochelle Moulton:

happening, which, it's

Rochelle Moulton:

been a long time since

Rochelle Moulton:

I've been an employee, but

Rochelle Moulton:

I'm kind of appalled by it

Rochelle Moulton:

is the corporate CEOs who

Rochelle Moulton:

are saying, come back to

Rochelle Moulton:

the office because we need

Rochelle Moulton:

to count noses, we need

Rochelle Moulton:

to know that you're here.

Rochelle Moulton:

So I think that, those of

Rochelle Moulton:

us who have toyed with the

Rochelle Moulton:

idea of having a business.

Rochelle Moulton:

At some point are going

Rochelle Moulton:

to get fed up with this

Rochelle Moulton:

sort of, paternal system

Rochelle Moulton:

of having to show up in

Rochelle Moulton:

ways that, don't serve us.

Rochelle Moulton:

and especially women that, are

Rochelle Moulton:

dealing with the brunt of the

Rochelle Moulton:

responsibility for childcare.

Rochelle Moulton:

Yeah.

Rochelle Moulton:

And childbearing.

Rochelle Moulton:

Yeah.

Rochelle Moulton:

Yeah.

Rochelle Moulton:

So I do believe

Rochelle Moulton:

that's happening.

Rochelle Moulton:

but I also think that, I

Rochelle Moulton:

am an optimist by nature.

Rochelle Moulton:

the world is, doing some funny

Rochelle Moulton:

things right now and I don't

Rochelle Moulton:

feel optimistic about that.

Rochelle Moulton:

It's not like funny.

Rochelle Moulton:

Haha.

Rochelle Moulton:

Or.

Rochelle Moulton:

No, no, I don't want to get

Rochelle Moulton:

into political conversations,

Rochelle Moulton:

but yeah, there's, I mean,

Rochelle Moulton:

we have wars, we have a lot

Rochelle Moulton:

of things happening right now

Rochelle Moulton:

that, are not great, but we

Rochelle Moulton:

have women who have always

Rochelle Moulton:

been strong, resilient.

Rochelle Moulton:

And I believe that we're

Rochelle Moulton:

going to have more of us

Rochelle Moulton:

that start businesses.

Rochelle Moulton:

And I will even go out on

Rochelle Moulton:

a limb and say, we're going

Rochelle Moulton:

to make a lot more money.

Rochelle Moulton:

One of the things that I

Rochelle Moulton:

was just blown away by in

Rochelle Moulton:

the first mastermind is how

Rochelle Moulton:

accomplished these women

Rochelle Moulton:

were and how they figured out

Rochelle Moulton:

how to piece their business

Rochelle Moulton:

so they could make it work.

Rochelle Moulton:

there was a minimum.

Rochelle Moulton:

revenue requirement.

Rochelle Moulton:

And so we had women who

Rochelle Moulton:

were working, I think the

Rochelle Moulton:

one who worked the least

Rochelle Moulton:

number of hours on average

Rochelle Moulton:

worked 15 hours a week.

Rochelle Moulton:

So ladies, I'm telling you,

Rochelle Moulton:

if you're not already doing

Rochelle Moulton:

this, this is possible.

Rochelle Moulton:

And by looking at how we

Rochelle Moulton:

monetize our expertise,

Rochelle Moulton:

how we charge for it,

Rochelle Moulton:

how we, build it, we can

Rochelle Moulton:

make a lot more money.

Rochelle Moulton:

Then we are making now,

Erin Austin:

maybe one of

Erin Austin:

the challenges will be if

Erin Austin:

there is a kind of a fresh

Erin Austin:

wave of new consultants and

Erin Austin:

the market is how do you

Erin Austin:

stand out from the crowd?

Erin Austin:

Well,

Rochelle Moulton:

that's,

Rochelle Moulton:

you know, at the end of

Rochelle Moulton:

the day, that that's it.

Rochelle Moulton:

and that's why the whole

Rochelle Moulton:

this idea of expertise and

Rochelle Moulton:

the word I use is authority

Rochelle Moulton:

is building think of it

Rochelle Moulton:

as market authority versus

Rochelle Moulton:

command and control authority,

Rochelle Moulton:

this idea of building

Rochelle Moulton:

market authority in a niche.

Rochelle Moulton:

And what happens is that

Rochelle Moulton:

as when we first start a

Rochelle Moulton:

business, a lot of times we've

Rochelle Moulton:

been in a corporation or an

Rochelle Moulton:

agency and we go, all right,

Rochelle Moulton:

I'm hanging out my shingle

Rochelle Moulton:

and we take everything that

Rochelle Moulton:

comes to us that first year.

Rochelle Moulton:

And it comes fairly easily

Rochelle Moulton:

often because, especially

Rochelle Moulton:

in the U S everybody

Rochelle Moulton:

loves an entrepreneur

Rochelle Moulton:

and we want to support

Rochelle Moulton:

you and we send you work.

Rochelle Moulton:

And then the second year.

Rochelle Moulton:

That's not happening so much.

Rochelle Moulton:

And in the 2nd year, you've

Rochelle Moulton:

had a year's worth of

Rochelle Moulton:

experience under your belt and

Rochelle Moulton:

you say, oh, I loved working

Rochelle Moulton:

with this kind of person or

Rochelle Moulton:

this kind of organization.

Rochelle Moulton:

I did not like doing this.

Rochelle Moulton:

figure that out and you

Rochelle Moulton:

gradually think of it like

Rochelle Moulton:

a funnel where you keep

Rochelle Moulton:

getting narrower and narrower.

Rochelle Moulton:

And eventually, you find that

Rochelle Moulton:

niche and that niche is where

Rochelle Moulton:

you really can start to build

Rochelle Moulton:

not only your expertise,

Rochelle Moulton:

but you can build public

Rochelle Moulton:

authority where other people

Rochelle Moulton:

are reading your stuff like

Rochelle Moulton:

you've done, with hourly to

Rochelle Moulton:

exit and your whole concept.

Rochelle Moulton:

It's people come to

Rochelle Moulton:

you and you become a

Rochelle Moulton:

recognized authority.

Erin Austin:

Which is

Erin Austin:

daunting to some people,

Erin Austin:

but you just need to start.

Erin Austin:

I mean, it was for sure

Erin Austin:

for me to, having worked.

Erin Austin:

in corporate, for a very

Erin Austin:

long time, working with,

Erin Austin:

the B2B experts and needing

Erin Austin:

to do, content marketing

Erin Austin:

and things like that

Erin Austin:

and getting out there.

Erin Austin:

It's, takes some time to, it

Erin Austin:

takes a little bit, but that

Erin Austin:

first step, it gets easier.

Erin Austin:

Rochelle Moulton:

Erin Austin:

That's for sure.

Erin Austin:

Well, I think that we all

Erin Austin:

look at whoever the recognized

Erin Austin:

authorities are in their,

Erin Austin:

in our spaces and we go, Oh,

Erin Austin:

well, I could never do that.

Erin Austin:

Well, you don't

Erin Austin:

have to, right.

Erin Austin:

And you just.

Erin Austin:

Start to your point,

Erin Austin:

just start and

Erin Austin:

you'll figure it out.

Erin Austin:

It will take you places

Erin Austin:

that you didn't even

Erin Austin:

know you would go.

Erin Austin:

Absolutely.

Erin Austin:

Absolutely.

Erin Austin:

I love that.

Erin Austin:

So have we talked

Erin Austin:

about your new podcast?

Erin Austin:

I don't

Erin Austin:

Rochelle Moulton:

Erin Austin:

think we have it.

Erin Austin:

Oh, I guess we didn't.

Erin Austin:

Okay.

Erin Austin:

it is pretty new.

Erin Austin:

So it's called surprise,

Erin Austin:

surprise, soulless women.

Erin Austin:

I think today we released

Erin Austin:

our fifth episode,

Erin Austin:

so it is fairly new.

Erin Austin:

what I wanted to do

Erin Austin:

was I wanted to find a.

Erin Austin:

I shouldn't say find, I

Erin Austin:

wanted to create a space

Erin Austin:

where we could hear some

Erin Austin:

stories of soloist women.

Erin Austin:

Yes.

Erin Austin:

I wanted to hear the advice

Erin Austin:

and the expertise, but even

Erin Austin:

from the experts, I still

Erin Austin:

wanted to hear their story.

Erin Austin:

Mm-hmm.

Erin Austin:

and like the one that just

Erin Austin:

posted today is the story

Erin Austin:

of someone who created a

Erin Austin:

seven employee agency, a

Erin Austin:

creative agency, and downsized

Erin Austin:

it back to being a solo.

Erin Austin:

And I heard the story inside

Erin Austin:

the solo swimming community.

Erin Austin:

And I said, Ooh, would you be

Erin Austin:

willing to talk about that?

Erin Austin:

I think this is

Erin Austin:

so interesting.

Erin Austin:

So I want, women to

Erin Austin:

know what's possible.

Erin Austin:

And that's the

Erin Austin:

idea behind this.

Erin Austin:

And I, co host another

Erin Austin:

podcast, in the space.

Erin Austin:

and we do a lot of,

Erin Austin:

do this, do that.

Erin Austin:

This is how you do it.

Erin Austin:

And And I was less interested

Erin Austin:

in that for this one.

Erin Austin:

I really, I think we women,

Erin Austin:

especially, we love the

Erin Austin:

stories that we can learn

Erin Austin:

from and talk about and some

Erin Austin:

of the connections that have

Erin Austin:

been made, between some of the

Erin Austin:

listeners and the guests that

Erin Austin:

have happened so far on five

Erin Austin:

episodes have been terrific.

Erin Austin:

So I, yeah, I hope, people

Erin Austin:

will listen to it and

Erin Austin:

give me feedback too.

Erin Austin:

Yeah.

Erin Austin:

Yeah.

Erin Austin:

Something that's not

Erin Austin:

there you want.

Erin Austin:

Absolutely.

Erin Austin:

Absolutely.

Erin Austin:

A hundred percent recommend

Erin Austin:

both of your podcasts.

Erin Austin:

So very.

Erin Austin:

Great information

Erin Austin:

on both of them.

Erin Austin:

So as you know, this is

Erin Austin:

the hourly to exit podcast,

Erin Austin:

where we talk about building

Erin Austin:

a scalable and saleable

Erin Austin:

expertise based business.

Erin Austin:

And I have a particular

Erin Austin:

soft spot for building

Erin Austin:

intellectual property assets.

Erin Austin:

And so you've alluded to it

Erin Austin:

somewhat as you talked about,

Erin Austin:

the clients, particularly in

Erin Austin:

the soloist women community,

Erin Austin:

but what types of issues do

Erin Austin:

you see your clients having

Erin Austin:

around intellectual property?

Erin Austin:

Like, how are they

Erin Austin:

thinking about it?

Rochelle Moulton:

Okay,

Rochelle Moulton:

that's a good question.

Rochelle Moulton:

I think the 1st thing

Rochelle Moulton:

is a small thing,

Rochelle Moulton:

but it's, important.

Rochelle Moulton:

And that is, I alluded to

Rochelle Moulton:

it earlier is that we don't

Rochelle Moulton:

think about our intellectual

Rochelle Moulton:

property as an asset.

Rochelle Moulton:

We just, we think about, oh,

Rochelle Moulton:

well, we know this because

Rochelle Moulton:

it comes naturally to us.

Rochelle Moulton:

We've studied this for years.

Rochelle Moulton:

We geek out about it

Rochelle Moulton:

and that's not an asset.

Rochelle Moulton:

So that's, I think the 1st

Rochelle Moulton:

thing is that awareness

Rochelle Moulton:

of what it looks like.

Rochelle Moulton:

I think that the

Rochelle Moulton:

other thing is.

Rochelle Moulton:

It's often in, with clients,

Rochelle Moulton:

it's often that they're

Rochelle Moulton:

looking at, doing consulting,

Rochelle Moulton:

speaking and writing.

Rochelle Moulton:

And so there's books.

Rochelle Moulton:

And I think a lot of

Rochelle Moulton:

people, when they first

Rochelle Moulton:

think in the consulting

Rochelle Moulton:

space, especially about IP,

Rochelle Moulton:

they think either I have a

Rochelle Moulton:

methodology that is uniquely

Rochelle Moulton:

mine and, or I have these

Rochelle Moulton:

topics that I want to put.

Rochelle Moulton:

In books that I want to

Rochelle Moulton:

write about in books.

Rochelle Moulton:

So that's tends to be

Rochelle Moulton:

where their mind goes.

Rochelle Moulton:

and the methodologies

Rochelle Moulton:

are interesting because

Rochelle Moulton:

they're often not that

Rochelle Moulton:

really special, right?

Rochelle Moulton:

I to say it another way.

Rochelle Moulton:

It's like, it's, we all think

Rochelle Moulton:

our methodologies are special.

Rochelle Moulton:

And if you're a consultant,

Rochelle Moulton:

and maybe this is true with

Rochelle Moulton:

attorneys as well, if you're

Rochelle Moulton:

a consultant, we love to

Rochelle Moulton:

tell you about our process.

Rochelle Moulton:

Well, first we do this,

Rochelle Moulton:

and then we do this.

Rochelle Moulton:

Because we're fascinated by

Rochelle Moulton:

it, but clients aren't clients

Rochelle Moulton:

are interested in outcomes

Rochelle Moulton:

now where, the methodology

Rochelle Moulton:

can really become valuable

Rochelle Moulton:

is when it's around something

Rochelle Moulton:

like, I always think of it an

Rochelle Moulton:

assessment is the first thing.

Rochelle Moulton:

Like, I have a number

Rochelle Moulton:

of clients who.

Rochelle Moulton:

charge on the high end

Rochelle Moulton:

to big organization.

Rochelle Moulton:

So maybe, you don't work

Rochelle Moulton:

with them for less than

Rochelle Moulton:

150 but they have a 50,

Rochelle Moulton:

000 assessment thing, and

Rochelle Moulton:

that's the black box and

Rochelle Moulton:

their IP is most definitely.

Rochelle Moulton:

in that.

Rochelle Moulton:

And so getting them to really

Rochelle Moulton:

think about that, I think

Rochelle Moulton:

is a challenge, which is

Rochelle Moulton:

really why I love the work

Rochelle Moulton:

that you're doing and why

Rochelle Moulton:

I send people over to you

Rochelle Moulton:

and to listen and read your

Rochelle Moulton:

stuff because yeah, I think

Rochelle Moulton:

it just takes, it takes a

Rochelle Moulton:

minute to think about it.

Rochelle Moulton:

And it is a different way.

Rochelle Moulton:

To grow, right?

Rochelle Moulton:

Because I can grow by

Rochelle Moulton:

selling my own time.

Rochelle Moulton:

I can grow by like I did in

Rochelle Moulton:

my 1st company by leveraging

Rochelle Moulton:

employees can hire employees

Rochelle Moulton:

and I can bill out their time.

Rochelle Moulton:

I can grow by developing

Rochelle Moulton:

IP, whether that's a

Rochelle Moulton:

book or whether that's a

Rochelle Moulton:

methodology or it's a black

Rochelle Moulton:

box and I maybe I can figure

Rochelle Moulton:

out how to license that.

Rochelle Moulton:

in order to make it grow.

Rochelle Moulton:

Maybe I can figure out it.

Rochelle Moulton:

Maybe there's like a train the

Rochelle Moulton:

trainer piece of what I do.

Rochelle Moulton:

the thing that I find so

Rochelle Moulton:

interesting is we don't

Rochelle Moulton:

feel like sometimes we

Rochelle Moulton:

like glom onto this, an

Rochelle Moulton:

idea, but we don't really

Rochelle Moulton:

know how it applies to

Rochelle Moulton:

our particular business.

Rochelle Moulton:

Like, Oh, I want to

Rochelle Moulton:

do train the trainers.

Rochelle Moulton:

Yeah.

Rochelle Moulton:

But the thing you want to

Rochelle Moulton:

train them on is something

Rochelle Moulton:

they only use once.

Rochelle Moulton:

Right.

Rochelle Moulton:

So that's probably not.

Rochelle Moulton:

Yeah, that's probably

Rochelle Moulton:

not a good 1 to do that.

Rochelle Moulton:

And so I, see those

Rochelle Moulton:

as the, as the primary

Erin Austin:

challenges.

Erin Austin:

Yeah.

Erin Austin:

Yeah, I agree.

Erin Austin:

And, yeah, the, constantly

Erin Austin:

beating the drum, that is

Erin Austin:

everywhere, when you're

Erin Austin:

an expert, every time

Erin Austin:

you use your intellect.

Rochelle Moulton:

Yes, yes,

Erin Austin:

exactly.

Erin Austin:

So you agree.

Erin Austin:

Thank you.

Erin Austin:

A couple more questions before

Erin Austin:

we wrap up, as we mentioned,

Erin Austin:

creating a more equitable

Erin Austin:

economy is 1 of the goals

Erin Austin:

of the hourly exit podcast.

Erin Austin:

And so I love to introduce

Erin Austin:

the audience to other

Erin Austin:

organizations that are

Erin Austin:

helping to do that.

Erin Austin:

Rochelle Moulton:

Erin Austin:

Oh yeah, there is.

Erin Austin:

We were talking about

Erin Austin:

this before the show.

Erin Austin:

So the organization is

Erin Austin:

called Hero Women Rising.

Erin Austin:

It's based in both the

Erin Austin:

U S and, the Congo.

Erin Austin:

And the founder of this is a

Erin Austin:

woman named, Nima Namadamu.

Erin Austin:

And I actually heard her

Erin Austin:

speak in Los Angeles, I

Erin Austin:

think maybe five or six

Erin Austin:

years ago when she was here.

Erin Austin:

And.

Erin Austin:

I had goosebumps.

Erin Austin:

I had tears.

Erin Austin:

She was one of the most

Erin Austin:

amazing women I've ever

Erin Austin:

had the pleasure to listen

Erin Austin:

to and certainly to meet.

Erin Austin:

she, has a number of

Erin Austin:

mobility issues and she is

Erin Austin:

supporting women in the Congo.

Erin Austin:

Now, the Congo is a place

Erin Austin:

that is rife with rape, not

Erin Austin:

just of women, but also of

Erin Austin:

the earth for the valuable

Erin Austin:

metals that go into a lot

Erin Austin:

of technology products.

Erin Austin:

And she created a number

Erin Austin:

of different ways for women

Erin Austin:

to band together and learn

Erin Austin:

how to use a computer.

Erin Austin:

And how to create businesses

Erin Austin:

and create income for

Erin Austin:

themselves so they could

Erin Austin:

get away from some of the

Erin Austin:

problems that are endemic

Erin Austin:

in a very difficult part

Erin Austin:

of the world and she, would

Erin Austin:

travel between Congo and

Erin Austin:

the U S to raise money.

Erin Austin:

And, it's not easy for her.

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many of us can get

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on the plane and not

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really think about it.

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She had a lot of accommodation

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issues and she was so

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and strong and giving.

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And yeah, just get goosebumps

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just thinking about it.

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So I heard her speak.

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And, my husband's, one of my

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husband's clients was one of

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the sponsors and he said, Oh,

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would you like to meet her?

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And my first reaction, no,

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no, I couldn't, I couldn't.

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And he's like,

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come on, come on.

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And so I, went up and met

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her and we had a brief

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chat and she was even

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more powerful one to one.

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So Oh,

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that's wonderful.

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Well, we will have the,

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link to the website,

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in the show notes.

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So I hope everyone

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will check that out.

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And so, where can

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Rochelle Moulton:

Erin Austin:

people find you?

Erin Austin:

Well, the easiest place

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is my website, which

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is Rochelle Moulton,

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M O U L T O N dot com.

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And there are links.

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There to, the solace women

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community, which you,

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can apply to join, to the

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two podcasts and to the

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mastermind, which will have

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been, completed when this

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comes out, but we'll have

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another one in the spring.

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So feel free to take a look

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at that too.

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So is there a waiting list

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that people can get on

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or application process?

Erin Austin:

Okay.

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There's an

Erin Austin:

Rochelle Moulton:

Erin Austin:

application process.

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Yeah.

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Fantastic.

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Well, this has been wonderful

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as always, Rochelle.

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Thank you again for coming on

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to the hourly active podcast

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and sharing your wisdom.

Rochelle Moulton:

Thank

Rochelle Moulton:

you so much, Erin.

Rochelle Moulton:

This was fun.

Erin Austin:

All right.

Erin Austin:

Thanks guys.

Erin Austin:

See you next time.

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Erin Austin

Meet Erin Austin, a Harvard Law alum with over 25 years of copyright and contracts experience. As the go-to advisor for professionals with corporate clients, Erin empowers entrepreneurs to be their own advocates, standing out for her commitment to transforming expertise into empires through the creation, protection and leveraging of intellectual property assets. Explore her blend of legal expertise and entrepreneurial insight on ThinkBeyondIP.com and the "Hourly to Exit" podcast. Off the clock, you'll find Erin in the great outdoors or connecting with business coaches to elevate 6-figure consultants into 7-figure powerhouses.