Having a Wealth Mindset

I was reviewing some notes recently from a conference I went to a while back, and I ran across a key concept if you want to build wealth in your life. Mindset is one of the biggest, if the THE biggest factor in whether you succeed or not. You can have all the knowledge in the world, you can know exactly HOW to achieve what you want, but unless you have the right mindset to pursue it and see it through, it is worthless. Many people know how to be successful, but never do because they don't think in the right way. Here is a brief breakdown from my notes on the mindset of the Broke versus the mindset of the Wealth.
Broke mindset

• Dreams
• Want a better job
• Saving money
• Net Worth
• Pay off debt
• Buy and Hold
• Appreciation
• Look Rich
• Use their own money

Wealthy mindset

• Goals
• Self employment
• Invest
• Cash flow
• Arbitrage
• Trade
• Passive income
• Look broke
• Use other people's money

Look at the difference in the mindsets. It is night and day different, so as you would expect, so are the results. The one on the list that I would tend to disagree with is the "buy and hold" versus "trade", as there are many instances that buy and hold makes more sense than buying and selling, but depending on the situation either could be the best option (we will touch on this at a later blog post). That is why education and having the right team around you is so important as well; knowing what to do in any given situation to give yourself the best result. No situation is exactly the same, so you need to know how to respond to anything, or at least have a highly qualified group of people around you that does and that can advise you.

Look at the list and honestly assess your own mindset. Which one do you most align with? Where do you need to make some adjustments? After doing so, take action and deliberately change your mindset to reflect that of wealth instead, and I promise you will see the positive results in your business and your life.

Taking Personal Responsibility

When things are not going as planned, it is easy to try to blame everything around us. Whether it's our circumstances, the specific situation or the actions of someone else, we tend to want to look to something that is beyond ourselves. However, if you wish to continue to build toward higher achievement, it is a non-negotiable to take responsibility for yourself and your own circumstances. I don't care if someone else played a part in it or not, or if you have a difficult situation you are dealing with. The bottom line is that, when it's all said and done, at the end of the day you are ultimately responsible where you end up.

A big part of this is realizing that it's not what happens to you that has the final say in where you end up; it's what you do with it, or how you respond to it, that makes all the difference. Jack Canfield calls this "E+R=O", which stands for Event + Response = Outcome. Notice that it's not just Event = Outcome, it's the event plus your response to that event which yields the eventual outcome. Don't blame what happens to you for your lack of success or for the problems in your life. There are an incredible number of stories of people overcoming huge adversities to become successful. The difference between these people and those that never accomplish anything is that instead of using those events as an excuse like so many do, they use it to build their character and to mold them into better people. They use it as a spring board to success rather than a reason for not achieving it.

Wherever you are in your life journey right now, own up to the decisions you've made that got you to where you are. Also realize that it is never to late to make new decisions and get back on track to where you want to go. And always remember that life is a journey, not a destination. Enjoy the ride.

Encouraging Others - The Power of Words

I had an interaction at the end of the day today that really opened up my eyes to the power of encouragement. I work in a sales environment, and there is a group of newer sales agents that have been on the phones for only a couple of weeks. They are going through the normal learning curve you'd expect for anyone new on the phones or to a certain type of sales. About a week or so ago I started talking to them more and just throwing out statements to them to like "you'll get one today, I can feel it" or complementing them on a particular thing they said well. Keep in mind also I'm not their trainer or anyone "above" them. I'm one of them; a fellow sales agent. I was talking to one of them at the end of the day today, and over the last several days he had gotten a sale every day after having a period of not getting any. I was giving him congrats, and he made a comment back to me giving me credit for them. I was thrown off a bit and asked him how so. He brought it back to the encouragement he had heard from me, that it had helped him to be able to make those sales. Now, I'm not taking any credit for the sales that he made; and I'm not saying he gave me all the credit. He was the one on the phone that closed the sale. But somehow my words of encouragement, my consistent reminder that he had what it took to make it happen, had had an effect on him and, as he saw it, was at least part of the reason he has had a streak of sales.

Encouraging words go a long way in building people up. It's easy to get down, especially in a sales position where you face constant rejection. Whether you are a leader by title or a fellow co-worker, be encouraging to those around you. You never know what kind of an impact you may have.

Today - Live in the Moments

Today is all we have. Right now is the only thing we have a guarantee of. We spend so much time planning and worrying about the future, that often we forget to live in the moment. We make calls or text while we are playing a game with our kids. Our mind is thinking of what needs to be done tomorrow and the next day while we are supposed to be listening to whoever we are engaging in conversation.

Too often we fail to see the wonderful things of today in anticipation of what tomorrow will bring. I'm not saying we shouldn't plan, we shouldn't try to be better and grown, or we should try to accomplish our goals. What I am saying is that we need to live in the moments that life gives us. A mentor of mine has done a great job of getting this across to me. Life is about the moments you create. It's about being present in whatever it is that you are doing at that time. It's about making memories and doing things with your loved ones that will make an impact on their lives, as well as yours, because you will remember it forever and the joy it brought you. What are your moments? What is it that gives you life? It's important that you know, so you can put as much energy as possible into creating as many "moments" in life as you possibly can.

We're all busy. We all have a million things going on in our lives. But I challenge you to be deliberate in being present where you are. Put the phone down at night when it's time for dinner. Don't let your mind wander when you are reading to your kids. Even during your business day, be there when you are talking to a co-worker or a client. I promise you that you will start to see a difference in your attitude, in your perspective, and in the responses of those around you.

Peaks and Valleys

Peaks and Valleys. Life is full of them. One minute we can feel on top of the world, and the next we feel like everything is falling apart. So how do we deal with this without letting our lows bring is down too low, to the point of inaction? Or without letting the highs get us to high, to the point of complacency?

It is important to understand that we can't let our highs be too high, and we can't let our lows be too low. With either extreme, we need to stay grounded in reality. Celebrate your victories and get excited about your accomplishments, but remember to keep your feet on the ground and keep yourself in check, or it may not be long until you tumble back down again. Remember what it took to get there, and keep on going. Don't think you can coast once you are at the top of your game. Your are either getting better or getting worse, you cannot stay the same. So make sure you are always improving yourself!

At the same time, you can't let your lows get you too low. Know what the reality is, as grim as it may be, and then take the necessary steps to make it better. Don't mope. That doesn't help anybody, and it certainly wont get you out of your situation. Figure out why you are where you are, where you want to be instead, and put together a game plan to get from A to B. Then do it!

It is also important to realize that everyone has their ups and downs; even those who are extremely successful. Just look at the likes of Donald Trump, one of the most successful and well-known Entrepreneurs. At one point he was millions upon millions of dollars in debt and facing personal bankruptcy. But he fought out of it. He had doubts. He was down. But he kept going, he did things he didn't feel like doing, and he eventually dug himself out, dusted himself off, and became the ultra-successful businessman he is today.

So whether you are currently in peak or a valley, remember it is all a journey. You will experience ups and downs. The valley will turn into a peak, and a peak into another valley. But keep your attitude and your actions in check in all these circumstances. No matter what life throws at you, you can make it through to the other side.