In my work as a business and abundance mentor, I have seen first-hand that a positive relationship with money allows you to make better financial decisions, overcome challenges with ease, and experience greater abundance. 

A negative money mindset, on the other hand, can lead to fear, procrastination and financial struggle. To help you identify and overcome a negative money mindset, I have outlined five mental blocks that will stall your business success and stop you from creating wealth. 

Negative self-talk

Negative self-talk, particularly around money, is one of the main blockers of entrepreneurial success. Pay attention to how you speak to yourself about money. Are you supportive of your success? Or are you negative and defeatist?

“Using positive language with ourselves is critical.”

Our subconscious mind influences our decisions and the life we create for ourselves; therefore, using positive language with ourselves is critical. For example, change, “I have so many expenses” to, “I have investments that are supported in abundance”. Simply changing your mindset from considering expenses as deficits to thinking of them as investments can have immediate positive impacts. You will be thinking ‘expansive’, instead of ‘expensive’. 

Aiming for average

Many people do not raise the bar high enough when they budget for a task or when saving money. This is a mistake. Whatever you plan to do, add an additional five per cent outlay, minimum. 

Imagine a gym session where you are sprinting five kilometres. With this mindset, you would add another 250m to your workout to smash your goal. Over time this extra effort will add up, and you will consistently reach above your goals. Financially speaking, you should save an additional five per cent where you can and offer a further five per cent to wow your clients – you will reap the rewards in excess.

Shame around money and wealth creation

Media and society have conditioned us to feel shameful for wanting an abundant life. This limiting belief will sabotage your wealth creation and block you from reaching your potential. 

You can overcome any shame by immersing yourself in the money mindset: reading books by entrepreneurs, seeking professional mentorship to address money blocks, consistently writing out your views about wealth creation, and reflecting on your money habits. 

Relying on your new business for income

If your new business venture is stalling while you are setting up, you must let yourself earn a side income. If you don’t, customers will sense your desperation and run for the hills. By allowing yourself to earn an income, you will take the pressure off the outcome of your business and you can operate with ease and joy. Take on part-time or casual work if you need to and view it as an investment in your business.

Hoarding of any type

My most successful millionaire clients are firmly against hoarding in their homes and businesses. Hoarding represents a deficiency mindset. It stems from the idea that an item cannot be sourced later and should be kept in case it is useful one day. 

I advise my clients to use the following concept when considering an item they have not used or enjoyed for some time, “Will this item serve my grandchildren? If not, then best recycle it or give it to charity.”

Your home and place of business are an extension of your energy. They should be clean, organised and every item should serve a purpose.

This article first appeared in issue 39 of the Inside Small Business quarterly magazine

The post The will for wealth appeared first on Inside Small Business.

A millionaire mindset isn’t about having a million dollars in the bank or living in a luxury penthouse. Instead, the focus is on creating the perspective of a millionaire, which is one of abundance. It is about transforming your attitude towards your life so that you feel you have everything you need and can therefore move through your life and towards your goals with ease, confidence and enjoyment.

Outsource what doesn’t serve you

Time is a precious currency that cannot be earned back. In turn, many millionaires or those on the trajectory to millionaire-hood outsource all tasks that they believed aren’t playing on their strengths. Even before they could justify the expense, some hired a house cleaner or personal assistant because this fed into their millionaire mindset. By outsourcing, they freed up time to focus on wealth creation, time with their loved ones and doing what was most important to them.

By applying this theory, once you calculate your per hour salary and the hours you gain back per week by outsourcing tasks, you will often find that you are ahead financially, using those hours gained to create wealth or enrich your life.

Incorporate daily spirituality

Many modern-day entrepreneurs have intertwined business and spiritual practices such as feng-shui. The intention is to focus on abundance flowing into you with ease. For example, in feng-shui, the colour green is often associated with wealth and certain plants are said to increase ‘wealth energy’. So, including these in your home can connect you with a feeling of prosperity and positivity.

Our thoughts are also energetic. Therefore, by limiting negative self-talk and transforming your words into ones of gratitude, you will reprogram your mind to see opportunities in obstacles. Focusing on money as energy activates the subconscious mind to remain laser sharp on creating wealth. Prioritising this view will continuously stand as a reminder that you are capable of and are here to generate a wealthy lifestyle. 

Treat yourself with care

The way you treat your wellbeing is a reflection of the financial opportunities that will come to you. Therefore, resting and doing what you love must be scheduled into your calendar. Recharging your internal energy battery is a must if you want to trailblaze ahead and gain clarity into your vision for goal setting and achievement.

The greatest entrepreneurs and millionaires schedule monthly or weekly day spa appointments, time with their loved ones, a swim at the beach, or simply a sleep-in. The key is to choose your preferred recharge method and incorporate it into your schedule as a non-negotiable.

Blocks to achieving your millionaire mindset

I’ve seen firsthand several things that will keep you from achieving the millionaire mindset and creating an abundant life.

Firstly, feeling guilty about money and wealth creation will sabotage your success since your self-talk will be shameful and condemning. Also, if you need to earn a side income while you start your business, you must allow yourself to do so. If you don’t, you will be desperate for sales and your customers, sensing this, will run a mile. Finally, one of the biggest blocks I’ve seen is people’s fears about expenses. Believing that expenses are investments instead of liabilities is crucial to creating gratitude, positivity and prosperity.

Fortunately, these blocks are all transformable by becoming conscious of yourself and following the tips above.

The post Three tips to develop a millionaire mindset appeared first on Inside Small Business.