I recently attended Tony Robbins: Unleash The Power Within in West Palm Beach. As part of the event, we discussed money and business. This was also the part where I noticed the Average Joe needs to undergo some serious mindset changes so they can earn serious money.
Coincidentally (but not really), I had several consultations calls the following week where business owners were struggling with trying to earn serious money. Many of them had the same patterns they had to break free from.
You need to trust yourself enough to take risks.
Because I started my career by blogging about all my money mistakes, I tend to attract a lot of people who have also overcome some major financial hurdles. This particular week, it was individuals who got themselves into trouble with debt and had worked hard to pay it off.
I’ve worked with enough people in this situation where I’ve noticed there’s only one thing that holds them back: They are afraid of returning to that place when they were in debt.
This means they don’t take risks, they have pre-conceived notions about how much money people have and, consequently, usually aren’t earning much money in their businesses.
Now, here is what I also noticed at Tony Robbins: UPW. Many of the people who attend this event are a) making millions and b) take risks all the time. They trust themselves to figure stuff out, and they usually do.
Wanting money isn’t a bad thing.
We live in a society that sends us confusing messages about the desire for money. On the one hand, money is seen as the epitome of success. On the other hand, if you want money you must also be greedy. It’s no wonder we’re all totally confused about our feelings as it pertains to money!
Because of this, many aspiring business owners feel guilty for wanting money. “I just want to help people. I don’t need a lot of money,” they say.
That’s a beautiful sentiment, but the logic is flawed. You can’t give from an empty cup. Additionally, the more money you make, the more you can reinvest and help people. That’s why you must get over this mindset issue if you plan to earn serious money.
Personal finances are one thing, business finances are another.
While I wholeheartedly believe having a personal finance education is the bedrock of building wealth, business owners quickly learn that personal finances and business finances are different animals. Quite frankly, what helps you in personal finance won’t necessarily help you in business.
For example, debt in your personal life (like debt over a shopping spree) is not a good idea. On the other hand, businesses leverage debt as capital all the time. Additionally, you can deduct the interest on business debt.
That’s why, if you want to earn serious money in your business, you need to stop treating your business finances the same way you treat your personal finances.
If there’s one thing I learned from attending Tony Robbins: Unleash The Power Within, is that the ability to earn serious money is mindset and mechanics. You can’t have one without the other and expect to be successful.