Calling all Entrepreneurs! This one’s for you. It’s time to talk money mindset!
I went to a networking meet up for creatives the other day and the topic was money mindset. Which was intriguing, since in real estate all we tend to think about is making money and growing our portfolios.
The speaker though asked some great questions that really made me sit back and think about my own money mindset and what money means to me. Let’s do this!
We all grew up differently. Some of us had rough childhoods while others had normal loving ones. Psychology proves, our childhoods shape the way we see the world and in this case, money.
I can only speak from my own personal experience so that is where this comes from. I grew up in a family where there were winners and losers. It was a zero sum game, meaning if you win, someone must lose.
As I have gotten older, I realized life is much more complicated than that. I used to see money as a game and the person winning was the guy or gal driving the nice car and had everything they ever wanted.
Now, that is still the goal but I think money, like life, is much more complex of an issue.
I don’t think my drive will ever go away but my appreciation for money has definitely changed. I remember what it was like to be broke and not sure how bills were going to be paid. It wasn’t that long ago because it still happens when we get slightly over extended.
As entrepreneurs, I think our risk/fear tolerances are very different than the average person. We aren’t afraid to risk everything on an idea or side hustle that produces money.
Is it the money though that drives us? Or is it the idea you are creating your own income?
How Much Money Do You Need?
Now this is an interesting question. I think, as much as possible to secure the life I want to live. My ideal life is never working 9-5 and never counting on someone else to pay my bills.
Okay, if that is the short term goal, how are we going to accomplish that?
I think to answer this question, we have to be honest with ourselves. We have to be able to sit down and ask, what is my goal with this business and why am I sacrificing so much to do it? If the answer is to make a lot of money, you may want to rethink it.
Almost every person who starts a business with the sole purpose of making money, fails. Because this journey will take you to the depths of your soul.
You will find out what you are really made of and why so many people fail. Figure out what you want to get out of it and how much money you realistically need to make to achieve your goals. Then pedal down and don’t look up until it’s accomplished.
Is it Money’s Job to Keep Me Safe?
Let that one sink in! Is it money’s job to make you feel safe and secure? What does that feel like?
Some of us, myself included, have a hard time feeling safe because of our childhood. We never felt safe and secure so in our adulthood it’s often interpreted as ambition or drive.
Really though, we have ambition because we never want to feel the way we felt in our childhood, unsafe. I promise guys, money isn’t going to make you feel safe. Every year Leanna and I make more money and every year she has to remind me of that.
As adults, we often forget how much our childhood shaped us and how much we are just trying to protect the little boy or girl inside of us. It’s often scary to look inward because it’s nothing but chaos and fear.
Money will never cure the chaos. It will never be the cure for your fear of failure or fear of what others will think of you.
I struggle with this the most. It is very difficult to calm the inner person who is constantly reminding you of the chaos.
Like clockwork, I will break into an anxiety fueled moment where I don’t know how to get to the next level. Leanna will promptly remind me of the fact we were dead broke two years ago and made it work. It’s calming to remember where you started and also humbling.
So, Who’s Job Is It To Keep You Safe, If Not Money?
This is a hard one because the answer is ourselves. We have to work through our own struggles to find out what our real purpose is in running our business.
It can’t be money and it can’t be someone else because you will constantly feel like you’re missing something. That empty feeling is you telling yourself something isn’t healed.
The good news? It can all be fixed if you want it to be. We have the power to unlock our potential and it is up to us to make it happen. I have learned the hard way that we can control our feelings toward something and our mindset doesn’t need to be in stone.
Whether it’s money, a person, or you hate your current situation it can all be changed. You don’t have to live in a world fueled by scarcity and fear of failure.
You can wake up a decide to be better, decide to work a little harder for your family, and be grateful for the journey.
I won’t sit here and say it’s easy. I have days I want to sink into a hole and ignore all responsibilities. I think that is okay and part of being an entrepreneur. We are empathetic people since we are solving problems in the world through business.
We understand others in a way that some will never understand and we make money from solving those problems.
But it isn’t easy to keep that motivation all the time. No one expects you too, but the key to feeling fulfilled is looking inward and asking the hard questions.
Hope you enjoyed this topic as much as me! Leave a comment on how you stay grounded and your money mindset!