What James Malinchak Teaches Regarding Ego Versus Bank Accounts By Andrea Adams-Miller “Don’t fill your ego! Fill your bank account.” James Malinchak shares this quote often with his audience and his clients. However, it was not until my first one-on-one coaching day that the phrase actually hit home for me. When James asked me questions to know more about me, I was happy to share all the different things I was involved. I was beaming at all the sacrifice, energy, and time I was investing to what I considered fundamental causes. Then James asked me how all my volunteerism was affecting my family and my business. Literally, I hung my head. My ego as a giver was instantaneously depleted. I admitted defeat. I was worn out; my resources were exhausted, and my family didn't see me unless they were volunteering with me. I noticed I was giving it ALL away - time, money, and energy to the point that I did not have time, money, or energy left to give away any more. James helped me to realize this by creating a time wheel to show me where I was off balance. He described to me that in my attempt to be a giver I was giving to the point that I wouldn't be able to give anymore - soon! He explained to me that by not creating a balance of give and take with myself my loved ones, and my company, I was removing the ability to continue giving as I enjoyed. He showed me how I could reorganize time, energy, and money into my own company. This reorganization placed my business in a stronger financial position. In this new position of financial stability, I can choose which charities and organizations I wanted to donate my time, energy, and money. He explained to me that in filling my ego as a giver, I was depleting my physical and emotional bank to the point of bankruptcy. The fact that my loved ones had been telling me that for a long time had gone overlooked. To hear that information struck me from a mentor that I had spent a lot of money in, well, it hurt; it was embarrassing. Unable to contain myself, I cried. Yes, I cried in his office for virtually the whole session. Normally, people will be angry at somebody for telling them this information. However, I was grateful. Through my tears, I nodded, “Ok. Ok. Ok.” All the while, he kept being truthful with me. I thought I was successful with my business, and to the outsider I did appear successful. On the other hand, he explained how I could be so much more. He was blunt with me that he could have said, “Kudos to you, Andrea, for all your service and dedication to your community.” He said he could have allowed me to continue to feed my ego, but he said that I hired him to mentor me to take my business to a higher level. He reminded me I had hired him to tell me the truth about where my business was headed. When he planned it all out, my business was going to that point of transforming into a charity, a non-profit. To which, he indicated if I wanted to carry on as I was doing business that I can apply for grants and become a legitimate non-profit business. But, he didn't think that's what I
wanted from my application essay. He was correct. I wanted more than ego. I'd been in the theater; The truth is that I love the applause, but a standing ovation doesn't pay the mortgage. The ‘good jobs’ and ‘thank you's’ didn't provide for my children. Honestly, the prices I was undercharging were diminishing the experience, knowledge, education, dedication, overage, time, and passion I've got for what I do as an interpersonal and business consultant. I wanted more, and committed myself to adhering to his advice. In only a short time, there's been a incredible turnover, a change of events. A number of the charities I had to step back from until I've stored up the time, energy, as well as funding to invest in them again. Even though, I have been able to remain a strong supporter for the ones I like the most. My customers are happy, and new customers are attracted to me for the increased dedication I have to my craft. Expansion has been fantastic and overall success has never felt so great. Overall, I've been filling my bank account and incidentally that's filling my ego, something James Malinchak may have left for me to discover for myself! Andrea Adams-Miller, CEO & Founder of IgniteYourRelationships, LLC, is known by the media as “The Leading Interationa Authority on Healthy Relationships.” She's a keynote speaker, relationship and business relationship consultant, columnist, international award winning radio show host, and best-selling author. She shows people how to create, retain, as well as sustain REAL lucrative relationships for life!
James Malinchak, Featured on ABC’s Hit Tv Show Secret Millionaire, is known as by many specialists as the World’s #1 Big Money Speaker Coach and Trainer. For Totally free Video Trainings regarding how to get money to speak and the way to turn into a professional speakers, have a look at twitter.com/JamesMalinchaks.
Published on Jul 18, 2013