With the right plan, virtually anyone can earn financial freedom with just their smartphone, she says.
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In this series called Member Showcase, we publish interviews with members of The Oracles. This interview is with Shannan Monson, a business strategist for female entrepreneurs. It was condensed by The Oracles.
Who are you?
Shannan Monson: I help service-based female entrepreneurs create scalable revenue. I started as a personal trainer and wellness coach before transitioning to helping women build their own businesses.
I made the shift because I saw so many passionate experts stuck in the one-to-one business model. I am obsessed with my work because I think women have really low expectations for their earning potential as a general rule. We’re not as bold about asking for more, so I help women shift their mindsets from solopreneur to CEO.
What are you more skilled at than most people in the world?
Shannan Monson: One of my favorite things to do is walk into a room and see how many people I can get to open up to me. I love making others laugh, getting them to tell me their story, and just making them feel comfortable and at home.
I remember being so excited when social media started to gain traction because I could see the potential to do this in a big way. I believe everyone just wants that sense of belonging — to feel like someone else gets you. I’ve been able to curate a really powerful online community just by giving people permission to be themselves.
What excites you the most about your business right now?
Shannan Monson: I’m really excited about how accessible entrepreneurship is for everyone right now — especially women. The opportunity to create your own business and financial freedom with just your smartphone is so attainable.
The cost of starting a business is the lowest it has ever been. It seemed like it cost millions to build a website 10 years ago, but today, you can build one for free in 10 minutes. Now you can start building an empire before dinnertime. That’s incredible and levels the playing field in so many ways. There’s never been a better time to be a woman with a vision.
What’s your favorite quote?
Shannan Monson: “You can have it all, but you can’t have it all right now.” Many people get stuck because they have so many ideas that they get lost in overwhelm, so they don’t take any action at all.
One of my favorite things to do is brain dump all the goals I want to accomplish, and then pick one to focus on at a time. This has been pivotal in helping me get where I want to go. We really can have it all, we just need to decide what we want first so we can get there.
What advice would you give to your younger self?
Shannan Monson: You have so much more potential than you give yourself credit for. Your dreams aren’t too big — they’re too small. The only thing standing in your way isn’t time or money, but your own beliefs about your potential.
Take a hard look at what you really want and ask yourself: “If nothing was standing in my way, what would I do differently right now?” Then do it.
How do you define great leadership?
Shannan Monson: A great leader sees the potential in others and gives them the confidence and tools they need to live up to that potential. Leadership is really about rising together, not rising above. A good leader can spot vision and drive and mold it into a bigger purpose.
How do you evaluate a good business deal?
Shannan Monson: I always ask myself if it is going to be a win-win scenario. It’s easy to think about how a deal might benefit you, but if it’s not going to move the needle on both sides, it won’t be successful.
Which single habit gives you 80 percent of your results?
Shannan Monson: The most valuable thing I do is sit down each month and define really clear goals for myself. It’s easy to get busy and distracted by others’ to-do lists. Specific, actionable goals keep me hyper-focused on my vision and make it easy to say “no” to everything that isn’t driving toward it.
What are you working on right now?
Shannan Monson: I’m focused on growing my team so we can support more female entrepreneurs as they take their businesses to the next level. I’ve really had my head down, asking myself, “What is the magic that got us here?” so I can create systems and find people to replicate that on a bigger level.
What is the most exciting question that you spend time thinking about?
Shannan Monson: “How can I do it better next time?” Every time I finish something, I take the time to feel gratitude for the results. Then I’m jumping right back into analytical mode to ask myself how we can do it better next time. I do that in everything, from business to my relationships and life in general. I ask myself: “Is it working?” Great. “How can we make it work even better?”