Money Making Mindset For Entrepreneur Success
I recently got an email from Amy from who asked me a few questions about my money mindset and entrepreneurial success – and I thought it would be interesting to share.
There are so many negative beliefs around money that cause us to self-sabotage our progress and keep us stuck at the same monthly income for years.
While just changing beliefs can’t just magically manifest money in your lap, it’s crucial to have positive attitude towards money if we want to have a great income and be financially free.
Here’s what Amy from The Leaping Lamp asked me about the money mindset and what I shared:
You’re a specialist in having the mindset of a winner, especially in tennis. And you know you can close the gap of of your goal much faster if you already have that mindset of success.
I would like to get into the mindset you have now so I might close the gap of my goals faster. Would you indulge me in a couple of questions regarding your online success and the financial freedom you’ve acquired?
1. What are your level of skills regarding SEO and making a high traffic website? Would you consider yourself an expert?
I think I am an expert although I think SEO in these days is very simple.
This is like 95% of the stuff that I do.
2. How do you perceive money differently before you became financially free vs. today? For example, What was expensive to you before, but today you consider to be a great deal? Does the word /expensive /mean something different to you today?
I read lots of books on money before. Think and Grow Rich, Rich Dad Poor Dad and similar. I simultaneously changed my goals related to money as I was earning more online.
I decided at some point that I want to earn 1 million dollars. Not because of the amount but because of what it takes to get there. I am not there yet but I am still aware of that goal that I “installed” in my brain at some point.
Of course, when you earn much more, then stuff is not that expensive. Although I realize that there are some people who are obsessively frugal even though they have millions.
I am not like that. I don’t mind paying $2500 for business class flight to Bangkok. In fact, I enjoy it.
3. What is one of the biggest changes in attitudes you’ve had about money since it has flowed abundantly into your life?
I enjoy paying for stuff. When I get my monthly bills, I enjoy paying for them.
I read somewhere: “I pay this bill effortlessly.” Start with that mindset every time you pay a bill and eventually you will pay effortlessly.
Before I felt that people with lots of money couldn’t be 100% good. I felt slight resistance towards lots of money.
Now I don’t. I like it. I am not bound by money and it doesn’t define me – but I simply like it.
I keep a detailed record of my online earnings since the first month when I started to earn online. That was in February 2006.
I can see for every month since then how much I have earned and with which program (Adsense, Amazon, Chitika, Clickbank). This signals to the mind that these numbers are important and that I enjoy when they grow.
I also am not greedy. I never felt greedy wanting much more money. I was always very very happy when I earned more than previous month.
I am very grateful to my own talents (intelligence, perseverance, good concentration) and people who showed me the way – Ken Evoy, Andy Williams and others.
I do set some interesting goals when it comes to money – like I want to earn a minimum salary (of Slovenia) – per day. 😉 But again – it’s just an exciting goal and not really that I want that money so much.
What I am going to do with it? 😉
So I think I have a healthy and exciting attitude towards money and that probably attracts it into my life too.
4. How has your thought process changed over these years of your business success? Do you brainstorm good, profitable ideas more often?
It has simplified. I used to complicate more, now I focus on what works and don’t waste time on other stuff.
I don’t brainstorm much – I just grow the sites that I have. It’s more than enough – I don’t need more sites or more money.
I am focusing on my coaching career in tennis in the near and distant future.
5. How much money do you comfortably carry with you on your person? ( I ask this because I’ve heard that people with larger bank accounts carry more cash with them and I should carry more cash with me, too. Get out of my comfort zone a little bit and mimic those who have more wealth)
Very different. Typically around 100 euros. But I may have an empty wallet too and that doesn’t feel uncomfortable either.
But at some point I learned to have a very organized wallet. High notes at the back and lower notes in front. It signals to the mind that you respect money.
Some additional thoughts I think are important:
Money is just metal and paper. It doesn’t mean anything.
What’s important is to feel confident about money making skills and feel confident about entrepreneurial success regardless of the situation – whether I have something in my pocket or in my bank or not.
That inner calm and confidence is what works in the long term and not the outside results – how much I have in the bank.
With that inner confidence you feel calm in any situation. People who focus on the results and the amounts they see in their bank accounts are dependent on those amounts.
When the amount goes down, they feel very bad. They are slaves to the money.
I am not. If I lose everything today, I know I can build websites that bring lots of traffic which will transform into passive income.
So in summary, one should focus more on the inner game:
- not having negative beliefs about money
- enjoying any extra money regardless of the amount (not being greedy but being grateful)
- and developing good skills in creating successful websites that give you confidence and inner calm regardless of the state of your bank account
The other part of entrepreneurial success of course lies in taking action, being productive and keeping your goals in your mind.