How important is your money mind-set for your business?
In my previous blog, I said that your success depends on your business model (read previous blog).
I have made a tool: the BIZZ Road Map. This tool I use to work smarter, achieve more balance and better results. The first step is the money mind-set. It is essential in order to be successful. But does this account for 90% of your success as some experts claim?
The word mind-set is used a lot, but what does the word actually mean?
Your mind-set is your way of thinking and interpreting. Your attitude regarding various things.
One crucial element to be successful in business is your attitude regarding money.
What are your views on money? Do these views support you in becoming successful or are they limiting beliefs?
Your mind-set – your convictions – influence your thoughts, emotions and actions. And also influence your revenues. Limiting beliefs can block you. For example, when decisions need to be made, or when taking the necessary steps in your business to get more clients.
Therefore, it is important, before becoming master of your business, to be master over your mind-set.
What are limiting beliefs?
I have been fighting with limiting beliefs since I was a teenager. These convictions are deeply rooted in my sub-conscience and I fall back on them every time something goes wrong. Unfortunately, these are mostly convictions that do not contribute to my success. They don’t help me, because they are not the most positive of convictions.
- If no one registers for my workshop then right away pops up in my head: “You see, I am not good enough or my product is not good enough.” And I go back refining until I think it is perfect instead of looking at the actions I took marketing my workshop.
- I grew up in scarcity (we were not well off and my parents often struggled to bring the 4 of us up), so when an assignment ends, I have a tendency to panic if I don’t find another client instantly. When I fall into that mind set-trap I am convinced that clients do not need me and that there is a lot of competition. In other words, I am scared I will not get enough revenues to settle my bills. In reality however, in my 15 years of entrepreneurship I have always been able to pay my bills and travel 6 times a year abroad.
- And then this conviction: “You have to work hard to get a good income”. The result of this is that I worked very hard, based on an hourly-rate for years, yet in the end it did not bring the freedom that I aspired for when I became entrepreneur. I now follow my BIZZ Road Map action plan with the ultimate goal to spend 6 months in the Netherlands and 6 months in a warm country.
How are limiting beliefs created?
Limiting beliefs are created in your youth, formed by what people important to you told you or showed you regarding their attitude to money. Are there things they always said to you and you just believed unconditionally? Maybe you learnt survival techniques in your youth which are no longer helpful today?
Because limiting beliefs are part of your personality and are stored in your sub-conscience, they are not always easy for us to spot ourselves until someone else points them out and holds up the mirror (your partner, friends, coach, trainer).
Everyone has their own limiting beliefs but they do not per se have to be about your attitude to money and earning money. However, these limiting beliefs unfortunately do not always have the effect we hoped for, and they can block you or hold you back from taking action.
Can you change limiting beliefs?
Yes of course.
Step 1 is to recognize your limiting belief. Recognition and acknowledgment are the first step to transformation.
When things aren’t going well or aren’t “in the flow”, then I always take time to listen to what I am saying to myself. Are these positive thoughts? Do they give me strength to go on? Or am I talking myself down with negative thoughts because I am stuck. And what triggers these thoughts in me? In which situation do I say what to myself. And does this motivate me to get ahead? If you can answer these questions, then you already have a good idea of your own limiting beliefs.
How can I change limiting beliefs?
There are a lot of theories. Some people find affirmations helpful, meditations, NLP, using a coach, following training, Yoga, Mandalas, praying or merely doing (taking action).
But what works for one does not by definition have to be helpful to another. It is precisely the quest for what works the best for you which makes it interesting.
I can indicate what works for me and who knows, it might work for you too. Because it involves convictions deeply ingrained in your sub conscience, step 2 works well for me:
Ask for help or attend a training to gain proficiency in how to change your attitude regarding a certain situation. But don’t stop, keep in ACTION, keep doing and trying!
Whilst writing this blog, I asked a friend how she coped with limiting beliefs.
She gave the following example:
If you are scared of drowning when you jump in the water, you can do 2 things:
- You can dodge the situation all your life or
- You can ask for help and take swimming lessons to overcome your fear
This also applies to deeply ingrained limiting beliefs concerning money and your business.
My personality is shaped by my past, but I can change the future.
In summary, my 5 tips are:
- Recognize and acknowledge your limiting beliefs
- Ask for help to facilitate change, for example find a coach
- Go to a training to learn how you can change your attitude to certain situations
- Persevere and take action.
- Keep trying different things till you find what works for you
What are your limiting beliefs and how do you deal with them? Will you share it in the response area beneath? Your input can help me and the other readers too!
I truly appreciate that you made time to read my blog and you will make me even happier if you leave a comment! In return I will invite you for a 30 minute free Skype session to talk about your biggest challenge. Thank you!