Entrepreneurship with Anne Mahlum
]It's July, and because of the Fourth of July holiday, I always think about financial independence. For the past 15 years, I have coached dozens of individuals to and through financial independence. The biggest factor I see between people who are close to achieving it or have already achieved it is a belief or manifestation in something big. When I say something big, I want to clarify that "big" is a relative term, and it's different for every single one of my clients, but if you are someone living in a scarcity mindset, you will have a difficult time getting to FI, and you may be your biggest roadblock to getting there.
This month, I will share three people's stories that will blow your minds. All of them started probably similar to wherever you are now, and within 5-10 years, they have achieved some massive goals, and yes, you heard me right, 5-10 years. FI is not a goal to be achieved overnight, but it's a goal that, with enough mindset and manifestation, can be accomplished sooner than later. Doesn't it make sense to work really hard for 5-10 years to have the next 20+ of freedom for yourself? I think so. Joining me today is Anne Mahlum, entrepreneur, investor, motivational speaker, and founder of the wildly successful pilates-based workout studio [solidcore]; she joins me to talk about how she took a huge risk on herself and her journey to the 9-digit net worth she now has. Anne is a big inspiration to me, and I hope you enjoy hearing more about her journey.
What are we drinking?
Anne – Re-Lyte Water
Shannon – Homemade Sparkling Water
Podcast Notes
Wealth is Power
Growing up, Anne's parents had polar opposite money habits, which led to their marriage's demise. That, plus other things she learned along the way, made her relationship with money tricky and riddled with guilt.
This feeling of guilt is extremely common among women. They hesitate to think about building wealth and feel the need to give it all away. Shannon's goal at The Gym is to help coach people from a scarcity mindset into an abundant one.
We all need money to survive, and some people struggle with believing they deserve more than they need. Money is power. It's freedom from a bad relationship, a bad job, or just freedom to spend your time the way you want. It allows you to make bold moves in life.
Financial independence is a goal in every financial plan at The Financial Gym, but it is so much more than just your net worth. People experience financial anxiety at all wealth levels, so it's important to work on your mindset while working on your financial health.
Many women feel that wanting to become wealthy makes them greedy. You can build the life you want, grow your wealth, have meaningful experiences, and be generous. You should not feel guilty for building wealth.
Manifesting Big Goals
Anne understands community building, which is why it was the center of both businesses she started. [solidcore] has 125 locations now, but people say the community is their reason for coming. Your special talents and passions are what will make your business successful.
Anne commits 100% to herself and her ideas. She continues to educate herself and always makes calculated, thoughtful decisions. Through all of the choices, she reflects on whether they support the overall vision, which is community. This has made both Back on My Feet and [solidcore] the successful businesses they are.
When pursuing big ideas or dreams, there will be many distractions and naysayers. You must be focused and determine what is in service to the dreams and what needs to go. You have to be your biggest cheerleader and number one supporter.
If you're not clear about what the goal is, that is the first step. You may be working towards the wrong goal if you struggle to show up. Don't just build wealth for the sake of building wealth. You need to have a deep connection with the goal.
Only take advice from people who are where you want to be and have expertise. This may not be your friends and family. Anne wanted to be in the 1%, so she had to only take advice from the 1%.
Final Thoughts and Practical Tips
Death is permanent and sometimes comes more suddenly than we expect. It's important to live for today while also planning for the future. It's about clarifying what is important to you and working towards balance.
Every decision you make will be unique to you and your journey. Don't wait too long to do what you want in life. Even if it doesn't make the most logical sense, regret can set in if you don't take certain opportunities.
If you want to manifest something, the first step is to write it down or create a vision board. Once you have the goal, work backward to determine what steps need to be taken.
Accomplishing large goals, like becoming a millionaire, comes down to daily decisions. When making choices, reflect on your vision board to see if they support that goal. Go in on yourself 100% and be patient.
If you're struggling to accomplish a goal or work towards it, pause and reflect. Is the goal something you really want? You might not want it that badly, or you may be working towards something you don't actually want.
A great way to tackle a big goal is small steps. Once you have the goal and vision board, break it down and take action towards it every day. Don't make things more complicated than they need to be. Most things just come down to time, energy, and consistency.
Takeaway: My biggest takeaway is that starting a business is a great way to build wealth and become financially independent, and the key ingredient of this journey is belief in yourself. If you don't believe in yourself and the big dreams you can accomplish, how can you expect anyone else to?
Random Three Questions
What is the next big goal or dream for how to spend your money?
What is something that you binge?
If this was your last meal on earth, what would it be?
Connect with Anne Mahlum
Website: https://www.annemahlum.com/
Instagram: @annemahlum
[solidcore]: https://www.solidcore.co/
Resources Mentioned in the Episode:
You Are a Badass at Making Money by Jen Sincero
Think and Grow Rich by Napoleon Hill
The Body Keeps The Score by Bessel Van Der Kolk
If you have any topics you would like me to cover on this podcast, or if you’d like to get in the financially naked hot seat, I encourage you to email me at Shannon@fingyms.com or join the private Martinis and Your Money Facebook Page, and let me know what you want to hear.
As many of you know, other than running this podcast, I’m the founder and CEO of The Financial Gym, and we are celebrating 10 years of this journey. Now more than ever, I see the importance of the work we do every single day. Rising inflation, the return on student loan debt, high-interest rates on loans and mortgages, and volatile stock markets make it a time where, now more than ever, you need a best financial friend to help you make the best choices along the way.
At Financial Gym, you get paired with a Certified Financial Trainer, who we call your BFF. Our team has coached clients through every financial season, whether they were living paycheck to paycheck or headed into Financial Independence and Retirement. As a reminder, we work with individuals, couples, or business owners.
The exciting news of 2024 is that Financial Gym now has a sister company, FG Advisory Services, available for people looking for more traditional financial advisory services like asset management delivered by a team that looks and behaves nothing like a traditional financial advisory services company. We literally have a solution for you, no matter where you’re starting from. So what are you waiting for? Head over to or send friends to financialgym.com to get started today. Our warm-up calls are free of cost and judgment, so you have nothing to lose.