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Are You Undervaluing Yourself? with Ruchi Pinniger

Are You Undervaluing Yourself? with Ruchi Pinniger

We sit down with Ruchi Pinniger, Founder and CEO of Watch Her Prosper, to discuss becoming empowered in every sense of the business world, saving for retirement, and why women undervalue themselves when they run businesses.


0:00:00.1 Maricella Herrera: Hi everyone. Before I get to the episode, I want to take a moment to address the United States Supreme Court decision to overturn Roe versus Wade on June 24th, which stripped away the right to have a safe and legal abortion. Restricting access to comprehensive reproductive care, including abortion, threatens the health and independence of all people, which we have already seen with abortion bans and restrictions in countries like Poland and Malta. This decision has dire consequences and could have harsh repercussions for other landmark decisions within the United States. I encourage our audience, American and otherwise to learn more about what you can do to help at I encourage you to speak up, take care, and spread the word.

0:00:45.3 Intro: Welcome to the Ellevate Podcast, conversations with women changing the face of business. And now your host, Maricella Herrera.

0:01:03.0 MH: Hi there. Welcome to the Ellevate Podcast. I'm your host, Maricella Herrera. And I'm here with my co-host Megan Oliver. How are you, Megan?

0:01:09.0 Megan Oliver: I'm doing great. I am, from what I hear, a bit warmer than you are right now.

0:01:15.9 MH: Yeah, I'm freezing and it's one of those cold that comes through your bones, but it's my own damn fault because I went for a run and then I just showered and I have dripping wet hair.

0:01:28.6 MO: Oh, oh yeah. That'll kill you. Sometimes I have a tendency to like take a shower and then have to do an errand, and then I'm like, why am I so cold? It's because I walked outside with freezing cold hair.

0:01:37.8 MH: Yeah. So it'll pass. The thing is my hair takes so long to dry that I'm just like, Ugh.

0:01:46.6 MO: I can only imagine. I always wanted, as a kid, I always liked curly hair 'cause my hair's always been, well as a like baby. My hair was curly.

0:01:53.3 MH: Really?

0:01:54.2 MO: But it went straight, yeah, when, if you see it, well, it's always been wispy like, and it still is where it just, it has curl-ex everywhere. It has wisps and everything. And so as a baby it was, it was all over the place and kind of curly. But then come about age two, it just went bone straight and it has just been that way ever since. So I always love curly hair, but I had like, one of my closest friends in college had curly hair and she was like, "Oh, you cannot imagine what a nightmare it is. The upkeep".

0:02:24.6 MH: Yeah. It's, you know, it's a blessing and a curse, I will say. Because I hated my hair when I was younger. I love my hair now. It's a blessing because I really, if I'm not running, I only have to wash it once a week.

0:02:38.1 MO: See that's so nice.

0:02:39.8 MH: Yeah. And it looks totally fine and it doesn't get, like it, because it's pretty dry. And then also like, I don't really have to style it or comb it. Like I wash it, I put gel in it and that's it. I'm done. That the washing, the taking care of it, the like putting products in it so it doesn't get like all frizzed up. All that is like a nightmare. But once you have it, once you're in the groove, it's great.

0:03:09.1 MO: Yeah. I only ever had the, I have to wash it every day.

0:03:12.4 MH: Wow.

0:03:13.3 MO: [0:03:17.5] ____ Crazy. Greasy, oily. The only time I ever had that experience was one time I went blonde for like a year or two just for fun.

0:03:20.6 MH: I couldn't imagine you blonde.

0:03:22.4 MO: I know, it's 'cause it was growing out by the time that I came to Ellevate. So it kind of just looked like I had bleached the tips of my hair. And so I had, but I had a blonde pixie cut and uh, it, I only had to wash it like every two days and it was the greatest thing ever.

0:03:38.7 MH: Wow.

0:03:40.4 MO: Sometimes you think about that.

0:03:42.8 MH: Sometimes I think about that. Well I guess our people might be bored of us talking about hair. I mean like what the hell? Who are we? So let's talk about something more interesting. What have you been up to?

0:03:55.2 MO: So I, as listeners of the podcast will know, I am back in Texas right now visiting family. I'm actually currently at my brother and his fiance's house because we have 42 billion family members coming in tomorrow. Uh, to the point that I was telling you before the podcast, to the point that there's no room for me to stay at my parents house, which is where I've been staying. My parents literally had to go to the RV storage place and pick up their RV and put it in the driveway because some of our family will be staying in the RV. That is how much family I have coming in. So that's fun. I have not seen the baby yet because she has been sleeping. But I will be spoiling her throughout the day. As soon as she's awake.

0:04:32.2 MH: As you should. You get more baby time than your family 'cause you're staying there.

0:04:40.7 MO: Exactly. That's why I was like, I was saying to my mom and I was like, "Oh, I'm winning on the baby time this weekend."

0:04:45.1 MH: Yeah. I can't wait to see my nephew. They're coming here from London on the 15th and then on the 18th. We all go to El Salvador. It's the first time he's going to El Salvador. So we'll see how that goes.

0:04:58.7 MO: Oh, that's so cute that I know this. I know podcast is not a visual thing, but everybody, Maricella shared a picture of him wearing a clown nose yesterday, and just, it was the cutest thing ever.

0:05:07.8 MH: Yeah. I was having a rough day and I texted my sister-in-law and I was like, I need some cuteness in my life. And she sent that and I thought I had to share.

0:05:17.7 MO: Yes, yes. I very much appreciated on all, all ends.

0:05:21.3 MH: Yeah. That's even, I don't know, I've had a, I feel like I've had a couple of rough, rough weeks. And in many ways like there's a lot of things going on and not to be a downer here, but I also do think winter hits days are shorter, it gets darker. It really does affect your mental state. So if anyone else is dealing with that, um, know you're not alone. And just try to get some cuteness in your life. It helps.

0:05:48.0 MO: It does.

0:05:53.2 MH: Anything you've been watching or reading?

0:05:54.0 MO: I had to fly back up to New York for a few days and while I was on the plane I saw, there was a show that I had seen advertised while I was watching like Football with my family. 'Cause I don't normally have cable or satellite TV. They have Direct TV. Uh, because I used to use streaming at my place. So I've been seeing a lot more things advertised that are just on basic cable. And there was this show called The Cleaning Lady that they also had on the plane. And so I just checked it out 'cause I was curious and it is so interesting. Sometimes it's a little crazy over the top in the drama, but like, I watched General Hospital, so who am I to say what's over the top? But it's about, it's about a woman who is from Cambodia and she has a son who, her son is half Filipino, half Cambodian. And they came to the USA legally to get a bone marrow transplant. But the person who was gonna do the transplant backed out. So she had to stay in the country illegally just to try to get a medical care because he has like a really severe medical issue.

0:07:02.3 MO: And she is a doctor, but she's not able to work as a doctor while she's in the US seeking care. So she's working as a cleaning lady and then at one point accidentally like comes upon a mob kill scene and the way that she gets out of it without them taking her out is she cleans it up for them. And she does such a good job cleaning it up that they like bring her on to other mob, you know, scenes of mob violence and have her clean those up. And it's just, it's such an interesting show. Apparently it's based on like an Argentinian show. Which I had never heard of either, but it's super interesting. But it also, the reason I liked it is it deals with a lot of things. Like it deals a lot with immigration and how broken the US's immigration system is. And you know, she's there with her sister who's been there illegally for 25 years just because she literally cannot get an immigration attorney. She cannot get through and, you know, dealing with one of her kids. It turns out wasn't born in the US whereas one of them was. And dealing with the fallout, there's a whole scene where they get picked up by Ice. It's just such a really, really interesting dive into things that I haven't seen done a lot in primetime television.

0:08:22.6 MH: Very interesting. I should check it out. I'm a cable cutter but I just looked that up and I think it's on Hulu, which I do have.

0:08:30.1 MO: Yes. I've been watching it on HBO Max. HBO Max has the full first season. Yeah.

0:08:35.7 MH: That's really, 'cause speaking of HBO Max, what I've been getting into finally, because I kind of left, let it pile up a few episodes is the White Lotus. I think it's coming, the season's pretty much over, but I also really like the show and I like the first season a lot and the second season is not disappointing because it does, it does kind of cheekily funnily darkly deal with economic divide like the haves, the have nots and the different realities that people live.

0:09:13.9 MH: And it's eye op. It's not eye-opening 'cause you know, this is true but it's also, I don't know, it's very well done. It's funny, it's a great show but it does touch on some social issues that make you think.

0:09:31.9 MO: Yeah, I gotta see the new, new season. 'Cause I saw the first, well I saw most of the first season with my friend and then she went on ahead of me, but then I saw how it ended. And so I really wanna see the second season. 'Cause I'm curious what they'll do with the second season.

0:09:46.5 MH: It's very good. It's very good. It's basically another hotel somewhere else and the characters are basically all new except for Tanya and it's pretty good.

0:10:00.9 MO: But is Jennifer Coolidge in this one?

0:10:01.0 MH: That is. She is Tanya.

0:10:03.3 MO: Oh, so Tanya's still in it. Okay. I see. I didn't recognize her name. See now I'm in. I'm in for anything. First of all, I love Jennifer Coolidge. Second of all.

0:10:10.6 MH: Me too.

0:10:11.0 MO: I love that character. She's so crazy.

0:10:15.8 MH: Yes, he's crazier.

0:10:17.2 MO: Yeah. That was what Gabby who I was watching it with. Every time she would like open her mouth, we would crack up 'cause she would just say the craziest stuff.

0:10:27.9 MH: Well, you won't be disappointed. Watch it. I like winged it in the last couple days.

0:10:35.8 MO: I think my mom hasn't seen... Either hasn't seen the first season or hasn't seen the whole thing. So that's a very, I'll watch that with my mom.

0:10:40.1 MH: Oh yeah, for sure. Well if you're looking for something else to do with your mom, you can also listen to this podcast episode.

0:10:48.8 MO: True.

0:10:48.9 MH: So my conversation today is with Ruchi Pinniger, she is the founder and CEO of Watch Her Prosper. She's committed to empowering women business owners to be prosperous and powerful through their finances. I really hope you do tune in and keep, um, and enjoy this conversation. Uh, we had a lot of, um, we go a little deep into our attitudes towards money and the reality of the state for women entrepreneurs 'cause it's not easy and women are really a big engine of the economy, yet our businesses are tend to be much smaller. So Ruchi really works with people to change their mindset and I really appreciated that. Hi Ruchi, how are you?

0:11:50.3 Ruchi Pinniger: Hi, Maricella. I'm great and I'm so excited to be here.

0:11:54.3 MH: Our listeners should know that us getting together has been a rollercoaster of things happening [laughter], everything from rescheduling to now when we're finally able to do it. My laptop just decided not to want to collaborate, but we're finally, finally ready to go have some great conversations. I'm looking so forward so much to this.

0:12:19.3 RP: Me too. And it was meant to be right now, this time, this day. So it worked out exactly how it was meant to. All good. [laughter]

0:12:29.7 MH: Perfect. So Ruchi, I always like to start with this very vague generic question, but, um, I always find that I learn something new from our guests whenever I ask it this way. So can you tell me a little bit about your background and how you got to where you are today?

0:12:49.5 RP: That is a loaded question, [laughter]

0:12:52.1 MH: I know.

0:12:53.0 RP: And I'm sure, it always is. Oh my goodness, where to begin? It's such a fun story actually, because I really truly believe that everything that happens in our life happens exactly how it should. I really, truly believe that the universe is conspiring for my highest good, that the universe has my back. And I know that no matter the ups and downs in my whole entire life. And there have been a lot of both that I am exactly where I need to be at this moment. So, you know, what I can share with you is I have that typical background of going from corporate to being an entrepreneur and business owner. And I never would have dreamed that I would be doing this work. I could not have imagined it. And I started, I mean, I could start with childhood, which is without going too in depth, but really to share with you that there's so many interesting things that happened as a child that I've used now in my life and in my business.

0:13:53.7 RP: For instance, the work that I did, you know, helping my mom sell her Avon, which was her side hustle back then and back in the 80's. And I would sell lemonade and make my own lemonade stands and make my own jewelry and sell that. So I had this entrepreneurial spirit and also a friend of my mom's had his own business and he would come over and bring receipts to me and he would ask me, "Hey, can you help me with this"? And what I didn't know all that time is I was actually doing his accounting. I was taking those receipts and using that old fashioned accounting paper. You may not know what I'm talking about unless you are.

0:14:34.5 MH: I do.

0:14:35.5 MO: You do. I think that's awesome. See, I don't really even know your background, so I'd love to hear. So I do his accounting and then lo and behold, it was time for me to go to high school and I said to my family, like, "I really wanna be a therapist" because at the time everyone used to ask for my advice and come to me when they had breakups.

0:14:55.7 RP: And I would get people together. And then I was like help solve problems. And my family encouraged me to go into business, which I'm really grateful about, now. And I did. So I wanted to be a therapist, went into business, went into the corporate world. I was there for 15 to 20 years. I was at a CPA firm. And then I went on to Wall Street. And after all that time, and during that time, I really felt like something was missing. Like I was meant to do more in this world. I had no idea what it was, what it looked like, but I was guided here. And ultimately I left corporate after years of battling what do I do next? What do I do next? And I hired a coach and I was sort of distraught because I just didn't know what I was meant to do.

0:15:44.0 RP: I was the type of person who needed to know everything, every step. And she said, "All right, Ruchi, you've got to relax. Like seriously relax and just look at this time as a gift from the universe and look for the signs and you are gonna find exactly what you're meant to be doing". And she was right. And I started to meet all these amazing talented women who had their own business, who talked about how they love what they do and they're amazing at it, but they don't know, like they hate the numbers, they're not good at them. All the stories we tell ourselves. And they didn't love running the business. They didn't know how to do it. And one of those people was one of my really good friends. And I started to work with her and started to meet with her like regularly and just go through kind of all the woes that she was going through, what was happening.

0:16:35.3 RP: She would be crying and talking about what was, you know, what was upsetting her and her business. And I started to see this impact. I started to, you know, see, first of all she knew now after working with me what she was really making, what she was spending, not just guessing or writing it on an envelope. Literally. We put her on an accounting system. We helped give her courage to raise her rates after so many years. And she said, I feel like "I've fallen in love with my business again". Like, I think I really helped to give her confidence and to realize like, you don't have to be alone in this. And she started to tell her friends about me and people she knows. And that's how, that's how my, my business was, came into concept.

0:17:25.3 MH: Oh my God, I love so many things about this story. First, I absolutely appreciate your view on the universe has your back, things happen for a reason. They happen exactly as they're supposed to. And the fact that you said, you kind of needed that control first. I'm very curious how you were able to. You know, when your coach said you have to relax, how you were able to make that change?

0:17:56.7 RP: You know, it just took a little time. I'm not gonna say I was great at it, but I really let go of feeling like I needed to know the answer. And what I did is I put, I really started to take action and try different things. So I, you know, I'm really passionate about non-profit work and have been on boards for many years. And I started to volunteer more. I started to get out there more. I started to have coffee with people, old colleagues, maybe people that I had met through, in my corporate world. I started to network more. I just started to like put feelers out and I knew that, you know, every time I'd meet someone I'd say, "Hey, do you know anyone else you think I should meet that would be interesting as part of my journey"? And I would be connected to all these awesome people. And so I think it was probably the real answer is action and patience. Is really what it comes down to.

0:18:52.0 MH: I like that because if you are taking action, you can start seeing how things will happen, right? You don't need to know right now, but you have that movement, that momentum of starting to move forward.

0:19:06.8 RP: Exactly, and that's one of my theories, now, I've been doing a lot of mindset work and in fact going through this certification, and I wish that I had been doing this work back then, 'cause it would have really helped me. But one of the things we talk about is the, how is none of my business.

0:19:25.5 MH: Oh my God, I love that.

0:19:29.2 RP: Right?

0:19:29.9 MH: I'm going to write that down and...

0:19:30.3 RP: Write it down.

0:19:30.3 MH: Put it right on my list.

0:19:31.0 RP: I've got posters all around me, Maricella, you would be... I'll send you a picture after, but I've got these beautiful, little tidbits from one of my mentors who I've been studying under. And that is one. And if I had known that back then, I think, well, everything happened the way it was supposed to, so I don't even want to regret it. [chuckle]

0:19:52.8 MH: And I can see with your attitude, how... I could see how you would have wanted to become a therapist, you have that emotional intelligence, and I think it's what translates for you to do the work that you do because you're dealing with business owners and their finances, and something that's just so fundamentally important in the health of their livelihood, that must also have emotional charge.

0:20:23.3 RP: Absolutely, absolutely, and I think that's why, my company, as you know, is called Watch Her Prosper, and I want people to know, first of all, I don't only work with women, we work with men and women. The reason it's called Watch Her Prosper is really a salute to the many clients that I have worked with and the growth that I've seen and the work we've done, and just really literally watching them prosper, watching them go from not having a handle on their finances, both in many cases, from a business perspective and personally, and going from feeling like they were not in control, not knowing what was happening, didn't understand it, didn't wanna look at it, to really owning it. Like working with myself and my team to be more empowered to save and to pay taxes and to understand what's coming in and what's going out. So yeah.

0:21:22.4 MH: What is the number one mistake you're seeing, particularly women, 'cause our audience is primarily women, women business owners make?

0:21:31.3 RP: Great question. The number one mistake I see is not paying themselves. So many times they put themselves last, they don't see the money that they earn as something that they need to really... It's like they don't value themselves almost, right? So even, for example, someone who might be new in business but might come with 20 years of experience in the work they're doing, they will feel like they need to under charge just because it's a new business and won't value all that work and everything that they've learned in their time, let's say in a corporate situation. So it's like under-valuing and under-paying themselves, I would say would sort of be aligned.

0:22:21.1 RP: The other thing is really just not having a handle on their money, and so you can be working with someone, even let's say you work with a bookkeeper and have them booking your revenue and your expenses is not enough, because your revenue and your expenses is just one piece of the puzzle, and yes, you could be profitable, though what I hear so often is unprofitable, so why do I feel broke? Because the reason is your profit and loss, your revenue, and your expenses is not the whole story, and there's other things that come out of your business that pay for, for example, your owner draw, your taxes, paying for old debt, saving for your emergency fund, all of those things impact your cash, but they don't show up on your profit and loss statement. And that's why a lot of people don't really have a handle on what's going on. The full picture that is.

0:23:19.3 MH: Cash Is King.

0:23:22.0 RP: Cash's King. Cash Is King. That's right.

0:23:26.8 MH: That's interesting to me. I've heard a lot of the not paying yourself, and you know what, actually a few... I will admit to this, I watch Shark Tank and...

0:23:40.2 RP: Me too.

0:23:41.0 MH: A few more episodes ago someone was pitching their company and one of the Sharks was like, "Yeah, this is a red flag for me that you are taking money out of the business, that you should be paying yourself last. And it kind of rubbed me the wrong way...

0:24:00.5 RP: Right. Interesting. Well, I suppose for... Yeah, that's kind of... It's surprising. I suppose, for a shark who's investing in someone, if they're coming to you for money, maybe they see it differently, but I would imagine that at a certain point, they would want their owners, their shareholders to be taking... To take a pay 'cause it's essentially you're working in your business, right. When you were in the corporate world before you started, you were getting a paycheck every two weeks probably, and so it was steady, and so I like to work with my clients to find a way to pay themselves in a steady way, not just really sporadic. Take an owner draw because they need the money, but actually, get into a really nice habit of paying themselves once or twice a month on a schedule, and that takes planning and projecting out the cash and really understanding what's gonna be coming in and out over a period of time.

0:25:00.8 MH: Yeah, and look, I don't remember what the scenario was, I just remember hearing that and being like, "That sounds like people need their livelihood too." Because if you can't pay yourself is your company really successful?

0:25:10.6 RP: Well, that's the question, because exactly, if you wanna replace yourself with an employee, could you even do that, and that's the way for you to think of it as a business owner.

0:25:23.5 MH: And we hear a lot about women's, particularly business owners, and I was shocked, I wish I remember the exact stat, but I think it's less than 1% or 2% of women businesses make more than a million dollars.

0:25:35.8 RP: That's right. I think it was like 1.7%. So we're probably thinking of the same source. You wanna hear another one?

0:25:42.7 MH: Tell me please, I'm fascinated by these stats all the time.

0:25:47.0 RP: Oh yes, 88% of women business owners make less than $100,000.

0:25:53.6 MH: Woooh.

0:25:55.5 RP: Right, and by the way, that's just revenue, that doesn't even take into account expenses.

0:26:01.9 MH: So revenue, it's not just, 1.7% make...

0:26:06.6 RP: Over a million.

0:26:07.7 MH: Over a million?

0:26:08.4 RP: Yeah.

0:26:09.9 MH: And 88% make less than 100 grand?

0:26:12.0 RP: Less than 100 grand. And again, revenue, that's just what they bring in from their customers or clients, that doesn't even take into account the expenses they need to operate their business, and then when you take out that taxes, and then is there even any enough to pay yourself?

0:26:31.5 MH: So why?

0:26:35.3 RP: I think that there's so much... It's a good question. I think there's so much focus for people on the top line number, that revenue number, and I love that people are proud of, "Oh, I broke a 100K, I wrote six figures." I mean, that's awesome, but there's not enough focus on the overall picture and the cash flow. So that's one big reason. The other thing that I like to say that I differentiate what my company and I do, because we take more of a holistic approach with our clients. We're not in many cases only looking at just their business ins and outs, we're understanding how their business goals align to their personal goals so that they do make enough to live their life prosperously and in a way that they really want to, and taking into account their personal goals like saving for a house, whatever, buying a car, when they wanna retire, all those things. We really like to align the two and that's really important, and not everyone really is doing that.

0:27:46.0 MH: Right. Especially in your case, and the way you work, you work primarily with, or I don't know, fully only with service-based business. Right?

0:27:56.9 RP: That's right, yeah. That's right.

0:27:58.7 MH: So I think that differential of service-based is important in this case where you're talking about aligning the personal and the business goals, because a lot of the times the service-based, you're the product.

0:28:15.1 RP: That's right. That's exactly right.

0:28:20.1 MH: Do you ever get people who are stuck in that like, "I just wanna make money for my business." Or stubbornness of "Yeah, your business isn't necessarily working, and you have to make changes".

0:28:34.5 RP: Yeah, well, those are open conversations we have, right? That's the nice thing about working with people to guide them. I don't tell people what they must do, what they must not do, right? They have to figure that out, but I'm really a partner to them and guiding them and talking through the scenarios with them to really support them fully. So there are times where somebody's not making a lot of revenue and it was kind of like, "Well, what now?" And so we talk about what are the different things you can do. What are the new products or AKA, services that you can package and offer? What are ways we can cut expenses? 'Cause, there's different ways to make more money, it's not only bringing in more revenue, it's also cutting the expenses.

0:29:21.6 RP: So we're really looking at that and taking a deep dive into that as well. Though, yeah, those are not easy conversations, and what I really like to do is support them and really for them to know there's different possibilities of looking at this, and I think that's really important when you're working with women in that situation.

0:29:45.7 MH: This might be an over-generalization, but... Sometimes I think that women... We hear about our under-confidence, we undervalue ourselves. Do you see that a lot of people not charging or women not charging what they should be charging like they're worth for a... I don't know for what reason, but do you see that?

0:30:13.7 RP: Absolutely. Oh, I definitely do. And there's probably lots of reasons, some are confidence, some may just be not knowing better. Not knowing what others are charging, and some may be kind of what we talked about, which is not taking into account all of the experience they have that they're bringing into their business, just because you're a new business owner doesn't mean you're inexperienced. So those are the typical reasons I see for women not charging what we'd want them to be charging. And that's one of the areas I really work with clients when we first start up. So for example, I have an architect client, we actually have many architect clients and she started with us last year, and I was looking at her rates and sort of just simply comparing even just to our clients that are similar in her space, in her region, and I said, "Are you... I really believe you're undercharging, how do you feel about maybe moving to this rate? How does that feel for you?" 'Cause you know, ultimately, you also have to be ready emotionally to say those numbers and for people to take you seriously because people feel the energy.

0:31:22.6 RP: If you're really confident in what you're bringing to the table and really confident when you quote your rates, people are gonna feel that versus if you're throwing out a number and you don't really believe that number.

0:31:38.8 MH: That's such a... Again, it goes back, I feel like to that emotional aspect.

0:31:44.0 RP: That's right, it's emotional. I also really believe in the spirituality around it, so like, kind of, the law of attraction, that's a big part of what we do as well, having the little sprinkling of spirituality mixed into the work that we do, so, yeah, it's all related. It's like a deserved level, right? And a lot of it is the thoughts we have, if you're, for example, walking around thinking all the time, I'm so worried about money that there's not gonna be enough. You're in many ways creating that reality because the thoughts are then creating your feelings of unworthiness, which are then creating the, what you're doing, your actions, which are not really trying to sell or not being confident when you're selling, and then that result is, "I'm not getting that project or that new client", so I also work with our clients to use powerful language, have powerful thoughts and do some of that belief work around it.

0:32:49.2 MH: Well, since I always use these podcasts as a way to get my issues resolved. [chuckle] How do you do that though? It's so hard, 'cause I'm honestly always worried about the money, right? And not just me personally, my money, but for the business, if I'm leading the business, I feel like I owe it to our employees, I owe it to our clients, I need to make sure that we have enough cash, and sometimes I really get into that cycle of "Oh God, what am I gonna do?" How do you actually step away from that and have a more positive mindset?

0:33:29.1 RP: There's lots of ways. Though, the first thing I would say to you, Maricella, and anyone going through that is to catch yourself, notice yourself, notice those thoughts come in and interrupt yourself, and just get grounded, breathe and go in nature, dance, saying something that just gets you out of those negative thoughts and then take a new action. Then just think, "Okay, what would the CEO, what would I do as CEO? What would I think as CEO?" So you're kind of like questioning what you're thinking and then making a new choice, because again, that thought that you're talking about is changing your action or behavior, which is then changing the results, so what if you just reframe that?

0:34:23.6 RP: Or, I also will work with people, so it could be that. It could just be day-to-day, the way you're thinking and catching yourself and noticing, or I also work with people to give them a little bit of, I'll call it homework or prosperity work, we may call it. And what I'll have some of my clients do is every morning have a few minutes of time where they just do a quiet meditation, and then we work on some disempowering thoughts, what's going on with them, and work on empowering thoughts to turn those around. So I'll give you a couple of examples if that works for you.

0:35:01.6 MH: Yes, please.

0:35:03.1 RP: Okay, so one of them, I kind of said earlier, something like, if you wanna go from, I'm worried about money and that it won't be enough, or there's never enough, right? To, "I live in an abundant universe, it's safe to let money flow to me." Or another one that's disempowering, "I'm so bad with money, I don't trust myself." And the more empowering thought could be, "I love money for what money can do, every day I trust myself more and more." Right? It could be as a CEO, "It's so hard to run a business, there's always so much to do." And you could, the empowering language around that is, "There's always time to do everything I want to do, I am time."

0:35:52.2 MH: I love me so much. I'm gonna come back and write these down 'cause...

0:35:54.8 RP: I love it.

0:35:55.9 MH: I need to start doing that. [chuckle]

0:35:58.2 RP: Yeah, I'd love to hear from you about it, because what I would want you to do and anyone listening, I want you to take that time, figure out what's going on in your mind, what are all those disempowering thoughts and turn them into something empowering. And I gave you some good examples here, what I love for you to do and others is write it down and then say it out loud, and then this is the big one, this is the game changer Maricella When you believe it, feel it, feel it in your soul, feel it in your heart and really believe it, because then you become... It's like you're operating from a different place, and in fact, your mind doesn't know the difference between reality and imagination. That's true. That is the truth fact. There have been studies, in, for example, athletes where they measure their brain activity...

0:36:53.7 RP: Let's do a baseball player, for example, here, they measure their brain activity when they're hitting a home run, and then they measure their brain activity when they're actually just visualizing themselves hitting a home run, and I don't mean just seeing yourself, I mean from every aspect, the noise of the crowd, how it feels, your body running to the basis, the breeze, you feel, everything, all the senses and you're gonna find that if you really do this in a way where you're visualizing and believing it and really feeling it, that you start to operate from a different place on a day-to-day basis, you show up differently. So in that, what we talked about earlier, you're changing your thoughts now because of how you're showing up. So then your feelings are more empowered and your behavior becomes more empowered and then you get the result that you want.

0:37:52.0 MH: Wow. So visualization really, but like almost putting yourself in that situation, even if it's not really happening.

0:38:01.3 RP: That's right.

0:38:02.2 MH: It's almost the same thing as actually having it happen.

0:38:05.7 RP: That's right.

0:38:05.6 MH: In your brain activity.

0:38:05.7 RP: Exactly. That's right. And a lot of this Maricella is like the law of attraction, right? There's moral science involved, there's spirituality involved.

0:38:15.8 MH: Coming back to the money thing and our attitudes towards money, I was visiting some friends this weekend and all of a sudden we were talking about work and money and whatever. These are my close friends. We, 'cause I, we know women don't talk about money that much, but it all, like, we were in a car and all of us kind of went to that point where we're like, "Yeah, I'm afraid that I will someday be a bag lady. I will someday be out of all my money and what am I gonna do"? Do you find that as a common, I was surprised because we were four people in the car and the four people had the same fear. Have you found that that's very common for women?

0:39:03.2 RP: I think that women are definitely really scared about their futures. Definitely. We're worried, 'cause you don't know. I mean, women, whether or not you're married, let's say you are, you know, women live longer than men. In many cases we already know. It's no secret that women make less. Right. Generally speaking. And so, yeah, of course it's a natural thing. The problem is we don't really talk about it. And that's why I really am here to change that. I want this to feel like a topic we can just talk about. I want it to be natural. I want people to come to my team and I not feeling scared to talk about their money, not feeling judged, knowing that they can truly trust us to be here with them, and that we're here to help them to be more prosperous and to know that they have a partner in this. And to encourage them to really look at the money, pay attention to it, make the plans, do the projections with us, figure out about saving for retirement. I mean, that's one of my greatest joys is to really help women be empowered around their money and to help them start to save, pay off debt, invest in their retirement accounts, something they may have not ever done as an entrepreneur. And to get them to be more aware of this is really possible.

0:40:29.9 MH: That's a very important thing. You just mentioned, a lot of women entrepreneurs, not even like, not allowing themselves to save for retirement.

0:40:37.4 RP: Absolutely. In fact, I was just in an article quoted about this because it's such an important topic and many of my clients after having businesses for years had never saved for retirement. So I'm really pushing them and striving or, yeah. I'm really pushing them and encouraging them to look at that as an option and understand what are their different possibilities in terms of saving for retirement, working with their financial planner and their tax preparer. We work in partnership in many cases as like a financial team to our clients. So really like opening their eyes up to it and having strategies for saving that money so that at your end it's all there. And we're excited to have that money saved to be able to do that.

0:41:24.6 MH: Well, I think what you're doing is really powerful because the combination of money, which is something that's such a difficult topic for many of us helping women in business, who for sure, like we said, we are at a disadvantage. We are not making as much as we should. And women business owners who are making, I'm still staggered. I'm still like in shock with that 88% getting, making less than $100,000. And using also the emotional intelligence and the spirituality, like bringing everything together, I think makes what you're doing extremely powerful.

0:42:07.9 RP: Thank you. And as I said, for me, I could never have dreamed this up. Like if you asked me about this as a young girl [laughter] I could never have seen this because everything in my life led me here and to a place where now, our clients sometimes joke and call me their financial therapist, which I'm not. I'm not...

0:42:24.0 MH: But you sounds like it.

0:42:27.9 RP: [laughter] In many ways. That's really what we're doing. In many ways though, we're not licensed for that. So I don't wanna get into trouble [laughter], so I wanna be careful with my words.


0:42:39.0 MH: Well, thank you, Ruchi. This has been really great. I've learned a lot just in these 30 minutes. So thank you for being here. And is there anything you'd like to add or something we didn't cover that you wanna make sure our listeners get to hear?

0:42:58.9 RP: I think I would love just to give our listeners some encouraging advice for those who feel a little lost in their money or who have the sort of, the judgments that they have about, if they're not good with money or have the stories from growing up, that have carried, that they've have carried with them all those years. I just want people to know that who you've been with, money is zero indication of who you're capable of becoming with money.

0:43:28.6 MH: So it starts now really.

0:43:31.6 RP: Exactly. It starts now.

0:43:34.9 MH: I love it. Well, Ruchi, I'm gonna do our lightning round because Megan will kill me if I don't.

0:43:40.7 RP: Okay, let's do it [laughter] So.

0:43:44.7 MH: Few questions you can answer in a sentence or less. Okay. First one, pet peeve.

0:43:50.6 RP: People that don't say thank you.

0:43:54.8 MH: Oh, that's a good one. That's a good one.

0:43:56.0 RP: That's how, that's why it was so easy.


0:43:56.0 MH: Yeah, that's a very good one. Top self-care practice.

0:44:04.3 RP: Meditation and belief work like I'm asking all of you to do. I do it too.

0:44:11.8 MH: Great. Introvert or extrovert?

0:44:14.1 RP: Definitely extrovert. No question.


0:44:18.4 RP: You could probably tell though.

0:44:20.5 MH: Well, people think I'm an extrovert and I consider myself an introvert. Mm.

0:44:24.1 RP: I would, I might have guessed introvert. I'm not gonna lie. Really? Yeah. Woo. Yeah.

0:44:29.3 MH: Good. Dream Dinner guest. And it could be more than one.

0:44:39.7 RP: My mom, I lost her very early. I was 15, so to have that time with her would be precious.

0:44:43.9 MH: Oh, that's really sweet. And, Oh no, I have one more. [laughter] Favorite recent read?

0:44:52.7 RP: Oh my goodness. I read lots of books for my book club and they're all kind of just more novels and historical fiction. Though I started reading, okay. Here's the honest truth about this question. Even though it's more than one sentence.

0:45:10.0 MH: Go for it.

0:45:10.2 RP: The honest truth is I'm one of those people that buys a whole bunch of books, gets really excited, starts reading them and stops. I really am one of those people. I'm admitting it for the first time ever in public, right now here on this podcast. So I'll tell you a recent read that was really cool that I didn't finish. It was E-Squared by Pam Grout and I do intend to finish it. And it's all about how our thoughts create our reality. And it has like nine different experiments in it that you can really test yourself on that.

0:45:40.7 MH: Oh, I'm writing this one down. E-Square.

0:45:43.3 RP: E Yeah, it's like E two, E-squared by Pam Grout.

0:45:46.9 MH: Okay. So I am kind of like that too. I'm a nerd. I love to read. I have tons of books everywhere. I don't finish all of them. I try to, but, I'm gonna start having that problem because I get so many book recommendations from this podcast.

0:46:06.4 RP: Yes. [laughter], I can imagine.

0:46:06.5 MH: I'm going to now be in a similar situation. And finally, what's one thought that you'd like to leave our listeners with?

0:46:19.4 RP: That's a good one. I would say today can be a new day with your money. Don't allow all the old stuff to come back and haunt you. You can create a new reality for yourself.

0:46:35.9 MH: That's a great one. Thank you Ruchi. This was fun.

0:46:40.7 RP: You're welcome. It was fun. It was great being here. I'm glad we finally were able to do this.

0:46:45.7 MH: I know [laughter], it took forever for us to get together, but it happened. It's all good. Here we are. It happened as it should.


0:47:02.9 MH: And we're back. Hope you enjoyed that. I have to follow up. I know she told me to follow up with her, so I have to follow up on a little bit of the things that we talked about and changing my mindset. I'm still working on it.

0:47:14.0 MO: I definitely cannot wait 'cause she also doesn't she lead the Entrepreneur Roundtables.

0:47:19.7 MH: She is, she's one of our leaders.

0:47:23.2 MO: She is fabulous and I was so excited when we got her on the podcast and you will definitely be hearing from her in future Ellevate events, future Ellevate everything.

0:47:31.4 MH: Yeah. She's a huge supporter of the network. And speaking about our Roundtables, we're coming to a close in the year, so there's just a few more. So if you wanna get some time with other women who are doing great things, get to vent about your holiday stress or just like thinking of how you're gonna be even more of a badass in 2023. Join us for one of the Roundtables. We have our Executive Roundtable, coming up Tuesdays at 1:00 PM and we're gonna be talking on the impact of pause. So how can we take a minute for ourselves?

0:48:16.4 MO: Super important.

0:48:18.7 MH: Yeah. Rising Leaders, they meet Thursdays at noon, Eastern and they'll be talking about deciding to make a career transition or pivot. So if you're considering something like that, if you're kind of wanting to explore it in the new year, great time to come and listen to our community and talk to some other people who are on the same boat. And finally, our Entrepreneurs, they meet Thursdays at 4:00 PM Eastern. And like Megan said, Ruchi who you just heard from is one of our leaders there. So you get to see her. We'll be talking about inevitable success and your 2023 plan. So come join us at one of the round tables to close your year off in the best way possible.

0:48:58.0 MO: Is it just me or does 2023 not sound like a real year?

0:49:02.4 MH: Do you know what all of the, I, as I've said, 2023 every single time I had to check myself. 'Cause I was gonna say 2024.

0:49:11.7 MO: Yeah. It doesn't sound real. 2024 somehow sounds more believable than 2023. 2023 sounds like a star date from Star Trek.

0:49:18.1 MH: I don't know why. I don't know why I couldn't. It was so hard. Really? I almost said 2024. Very, a lot of the times and, well, I was reading this anyway. We have a big history maker section today.

0:49:35.5 MO: We do because it is, as people know, we do record these in advance though. We've actually moved back our schedule a bit, so we're a little more topical. But this is our first one recording since the midterms happened, which for our international listeners we're talking about the US midterms, midterm elections where there was a ton, ton, ton, ton, ton of history made. So we're gonna go over all of the various people that made history in the midterms.

0:50:03.7 MH: Yeah. And I mean, talk about people showing up, not just history making on the people who became firsts, but also people showing up for reproductive rights, people showing up because we care about women's rights and it was so good to see.

0:50:24.1 MO: Absolutely. So do you wanna, do you wanna kick things off?

0:50:29.7 MH: Sure. Maura Healey became the first out lesbian governor in US history when she was elected governor of Massachusetts.

0:50:37.3 MO: Woohoo. Shirley Weber became California's first elected Black Secretary of State.

0:50:44.0 MH: Sarah Huckabee Sanders became the first woman elected governor of Arkansas.

0:50:50.6 MO: Aruna Miller became the first Asian American lieutenant governor of Maryland.

0:50:54.6 MH: Charity Clark became the first woman, elected attorney general of Vermont.

0:51:01.1 MO: Yadira Caraveo became the first Latina elected to Congress from Colorado.

0:51:05.7 MH: Yay. Love to see my Latina people. Kathleen Hochul became the first elected female governor of New York.

0:51:13.3 MO: Andrea Campbell became the first black woman, elected attorney general of Massachusetts.

0:51:16.6 MH: Lee Fink became the first trans person elected to the Minnesota legislator.

0:51:23.4 MO: Summer Lee became the first black woman elected to Congress from Pennsylvania.

0:51:29.2 MH: Leslie Rutledge became the first woman elected lieutenant governor of Arkansas.

0:51:34.7 MO: Becca Balint became the first woman elected to Congress from Vermont.

0:51:37.0 MH: That's amazing. Stephanie Thomas became the first black woman, elected secretary of state of Connecticut.

0:51:45.7 MO: Delia Ramirez became the first Latina elected to Congress from Illinois.

0:51:50.0 MH: Yeah, another Latina.

0:51:52.9 MO: I keep getting all the Latinas.

0:51:53.5 MH: I know. I'm jealous. [laughter] Katie Britt became the first elected female senator from Alabama.

0:52:00.5 MO: Zooey Zephyr became the first trans state legislator in Montana.

0:52:06.1 MH: Sabina Matos became the first Dominican American elected to a lieutenant governor position in the United States.

0:52:13.0 MO: Ruwa Romman became the first Muslim woman elected to the Georgia House of Representatives and the first Palestinian American elected to any office in the state.

0:52:22.8 MH: That's amazing. Reggie Marinelli became the first woman sheriff of Jefferson County, Colorado.

0:52:30.5 MO: Brooke Lierman became the first woman elected as state comptroller and to an independent state government office in Maryland.

0:52:36.6 MH: Mercy Kebchar became the longest serving woman in Congress when she's sworn in next year to represent Ohio's ninth Congressional District.

0:52:47.2 MO: Woohoo!

0:52:50.2 MH: That's a lot of, a lot of, a lot of glass shattered [laughter]

0:52:55.4 MO: A lot of, the floor is covered in glass.

0:53:00.6 MH: I love it. I love it so much. So we'll keep celebrating and we'll keep showing up to make sure that these firsts are not lasts. That is where it really matters.

0:53:12.7 MO: Yes.

0:53:15.6 MH: So join us next week. I have a conversation with someone I was so happy to be able to talk to her one-on-one. I see her every week at the Executive Roundtable. She's a huge supporter. She is so smart and so great at everything diversity, equity, inclusion and belonging. So we wait, you can imagine had lots to talk about. It's Naomi Mercer. She is a senior Vice President of diversity, equity, and inclusion for the American Bankers Association. She provides guidance and thought leadership, develops resources and tools and helps banks with their diversity, equity, and inclusion programs. So you can imagine I had a lot of questions for her, [laughter] and a lot to talk about. She's also a veteran, so we talk about her experience in the military and lots of other cool things. So I hope you can tune in next week for my conversation with Naomi.

0:54:07.0 MO: See you then.

0:54:07.4 MH: Bye.

0:54:15.5 Outro: Thanks so much for listening to Ellevate. If you like what you hear, help a girl out, subscribe to the Ellevate Podcast on iTunes. Give us five stars and share your review. Also, don't forget to follow us on Twitter @ellevatenetwork, that's Ellevate Network and become a member. You can learn all about membership and all the great things that Ellevate Network is doing at our website, That's E-L-L-E-V-A-T-E And special thanks to our producer Katherine Heller. She rocks. And to our voiceover artist Rachael Geissinger. Thanks so much and join us next week.