money mindset

Is Your Money Mindset Holding You Back?

It’s no secret that I’m a huge fan of an actionable strategy and providing you all with clear actionable steps, so when I say that this blog is on money mindset, you may be thinking that this stuff isn’t as strategic as some of my other content. However, I believe that developing your money mindset and your wider entrepreneurial mindset is one of the most important and strategic things you can do.

Here are the Three Steps I think are fundamental to changing your Money Mindset which will ultimately help you make more money in your business.

Step 1

Assess what stories have you been telling yourself about money. What internal chatter pops up when you think about money and finance? I’ve found that people tend to have a few similar stories they are telling themselves about money and it usually stems from childhood. Perhaps a few of these will sound familiar?

  • I’m not good with money and finance
  • I don’t understand money and finance
  • Money is hard to earn
  • Money is hard to keep
  • I don’t know what to do with my money
  • I hate the complexities of money – it’s boring

These views often manifest themselves into a few specific behaviours:

  • Overspending – those of you who get paid or make some money in their business, or even if things are really out of control get a new credit card and think… WOOOOO – I’ve been paid let’s spend it!!! {I definitely used to be part of this camp}
  • Abdication – My accountant/husband/partner handles my money which you justify as “delegating”
  • Fear – GAHHHHH I can’t spend any money, I need to keep it all here nice and safe in this account/under my bed incase something goes wrong.
  • Ignorance – You may just be ignoring your money because you are scared of it or you don’t understand it.
  • Under-charging – often stemming from lack of self-worth which is sadly sometimes bolstered by stories members of your own family and those closest to you are telling you.

Chances are you will be firmly in one or perhaps even a combination of these camps. And that is OK. You don’t need to change who you are as a person to change your financial reality.

Step 2

To flip your view on money and finance you need to tell yourself a new story every day.

Things like:

  • I’m good with money
  • I understand money
  • Money is easy to earn
  • Money is easy to manage
  • I’m in financial control and I know what to do with my money
  • I always live below my means.

Step 3

Build a crystal clear picture of what you really want and when. This has to be specific:

  • I want to make $…
  • I need $… to live the life I want to live
  • Having $… means I could do X with my business

Then take action. This Money isn’t going to magically appear and although I’m a huge fan of the Law of Attraction and manifestation, you need to take consistent action towards this new goal. You need to think, feel and believe that this will be your new financial reality and take relentless action in pursuit of this new goal.

When I think about my own story and journey with money some of the actions I took were investing in coaches and programmes to teach me how to become financially literate. I invested time and money speaking with investors and financial planners. And I still dedicate time daily to reading something financial, looking at the stock market, assessing my shares and working on my money mindset.

Think about that must – your new standard – and now challenge yourself to think of 20 ways you can take action to make that must your reality. You could:

  • Add a new product line
  • Add more value to your customers
  • Price your products/service at what you really truly deem it to be worth – Note you must be able to demonstrate the value to the buyer its no good just adding zeros.

If you want to take this even further, there is also a link to my e-book Master Your Money – the 30 day action plan. This e-book is filled with actionable strategies I took when I first started out on my own journey with money and as a result have been me go from crippling debt to thriving CEO with a successful business and investment portfolio.

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