When I mentor my entrepreneur clients, most of them are surprised to discover that I often spend just as much time coaching them on a correct money mindset as I do on sound business strategies. How you think and feel about money is just as important as how you earn it. But if you don’t think and feel wealthy, then you’ll never get to that point.
So you need to think rich, feel rich, and take rich actions to achieve the lifestyle you want and to support the causes (and people) you care about. You can’t be focused on affecting change when you are anxious about your bank account.
Here are seven simple mantras that can help you infuse a healthy mindset into your life and your business in 2014.
1. “I am responsible for my financial success, and no one else.”
Your financial situation is a direct result of your own actions. If you find yourself blaming other people or circumstances, you are not accepting responsibility. Even worse, you are buying into the notion that you are powerless to change your circumstances. We can’t always control our circumstances. But we can very well control how we respond to them. Wealthy people create their own lives – it doesn’t just happen for them. You need to believe that, too.
2. “I learn about making money from wealthy people.”
If you take advice from someone who is struggling to make ends meet, nice as they are, then chances are you may find yourself in that situation too. If, on the other hand, you look to successful mentors who have proven they know how to make and manage their money, then you’re more likely rise to their level. (So next time your well-meaning Uncle Fred tells you to give up on your business, take into account his OWN state of finances!)
3. “I take good care of my money.”
If you can’t manage the money you have, it’s unlikely the universe will bring you more. Your money management system doesn’t have to be complicated—a notebook, pen, and calculator can even get you started. Ignoring your bills won’t help you achieve wealth.
But listen up: What you focus on expands, so I don’t want you to focus on your debt! Set up and honor a plan to pay off your debts and bills, but put your focus on creating a positive and healthy net worth. I myself was in tons of debt when I started my first business—so much so that I had to get some credit counseling. It was scary to sit down and add it all up, but awareness is the first step. With some care, it will only get better from there.
4. “I see opportunities in everything.”
While most people see roadblocks and risks every day that prevent them from taking action or doing anything to change their lives, wealthy people see the opportunities. Successful companies flourish during difficult economic times, and you can, too, if you know how to recognize opportunities and adapt as you go. As entrepreneurs, we’re blessed to be able to make changes quickly to adjust to market conditions.
When I had the opportunity not just once but twice to spend time brainstorming with Sir Richard Branson on his private island in BVI, my biggest takeaway was that I never once heard him say “Oh we can’t do that.” He listened to all ideas around him with great interest and consideration. He is about nothing but possibility. It was purely magical to be around him! I left feeling that anything was possible for me, too.
5. “I play to win big.”
Small thinking leads to small bank accounts. Big thinking leads to big money. Instead of making it your goal to earn a “comfortable” living, get out of your comfort zone and set higher goals for yourself. I see many women get stuck at one of two revenue levels in their business: One is just under $100K. The other is just under $300K.
These levels are fine and good for a steady income, but I challenge you to look for ways to leverage what you have to dramatically increase those numbers… without working any harder! There is always a way. And those big leaps in income are what will truly change your life, influence your family’s life, and enable you to make an impact in this lifetime in a powerful way. One of my client’s goals was to be able to give away more money in a year than she previously made in a year! What a wonderful way to think about it.
6. “I love to receive–especially money.”
Learning to accept gifts can help you learn to accept money. Even something small like learning to accept compliments from others is a good start. (Have you ever noticed that’s so hard for some of us?) Never apologize for your pricing. Know what you are worth, charge what you know you are worth, and don’t be shy about asking for payment. You deserve to be paid upfront or at least on time. Be gracious, but stand up for your worth.
7. “I enjoy giving money to others.”
Tithing–the act of giving back to worthy people and organizations–is an important part of the money cycle. When I said “yes” to the opportunity to be featured on ABC’s Secret Millionaire, I was stepping out of my comfort zone in a big way. The experience took me out of my element physically, emotionally, and financially (I gave away $100,000 to some worthy causes and people). I also signed a huge contract that made it clear it was not even guaranteed the show would air afterwards! But, I knew that money would always flow into my life, and I was ready to give back in a big way.
When you can share your wealth with others, you’ve truly freed yourself from letting money limit you.
One of my original business mentors, Dan Kennedy, taught me that the “hole” you invest through, spend through, and give through, is the same hole you receive through. If you invest and give small, you get small. Start looking for ways to invest in yourself and your business in the New Year, and ways to give back at the same time. It’s one of the biggest blessings we have as entrepreneurs!
Which mantra really resonated with you and why? What will you be doing in 2014 to become a money magnet? Please share in the comment section below.
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© 2013 Ali International, LLC
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