How Your Money Philosophy Might Be Flawed
We all have a philosophy about money. Most of it is flawed. Most of us have made money our whole lives based around this philosophy, and it’s kept many people stuck and broke.
We live with a money agenda that says – we are paid based on the time we invest, produce, commit; or work…
We always stay limited because we can only produce 24 hours in a day. Listen in to explore a new philosophy that might serve you better if you are struggling with not enough money.
What You’ll Learn from this Episode:
Your Money Philosophy
Why It Might Be Flawed
No One Pays For Time
How to Increase Your Income by Increasing Your Mindset
Welcome to the Street Smart Wealth Podcast, show #325. Click the icon, top left (right between to two title links) to open the player and listen in!
Time, Money, Value Your Philosophy and Success
Why It Might Be Flawed
Do you see how this might be flawed thinking?
I’d like to paint a slightly different picture for you, and potentially create a shift in your thinking.
Think right now about how you create money in your life. Not how you want it to be, but how it is, right now…
I’m going to share some thoughts and then invite you to consider a new way of looking at money…at least as it shows up or leaves in your life. Especially if you don’t have as much money in your life as you would like.
Here are a few things I invite you to consider –
How getting paid based on hours worked affects the value you place on your time.
How to invest in yourself to overcome these limiting beliefs
How to separate time from part of the equation in your earning chart
How to get paid based on value
How to create more time
See if any of these are beliefs you have –
that your earning potential is limited by time, therefore limiting the amount of money you can make…
that the idea of making more money, sounds like more time and work
It’s probably not your fault, you think this way, as it’s likely how you were raised, just like me. But once you know the reality, then it is your fault if you choose to stay stuck.
No One Pays For Time
Here’s a concept we believe – our value is equal to the hours we work times the hourly wage we are paid.
But, where is the value in the hours worked? People don’t pay for hours, they pay for results. Only you can place a real value on your time, as you own it.
So we are paid based on the value we provide.
Get the point of that and let it settle in, because without a shift, you may spend your life thinking that your ability to make money is tied to your hours available and where you are now.
As an entrepreneur and even as an employee, the best thing you can do for yourself is begin to determine what the value is that you bring to the table. Remove the “Time” associated with it from the equation, other than the value that you create during time.
In the corporate world, we somehow began to equate value and getting the job done with a 40 hour work week. And, that seems to have shifted more to 50-60 if you are salaried. That’s just their way of squeezing more time out of you for the same pay.
It’s still more like 40 hours in a blue collar type career because of overtime, and unions.
You Are Paid For the Value You Create
Think about the value you provide in your job, or your business. How can you get paid more for less time? This is a key to creating freedom in your life.
What do you think it’s going to take for you to double your current income? In terms of time? In terms value?
If your belief is that money is created by the time you commit, you will forever be limited.
How to Increase Your Income by Increasing Your Mindset
If you believe that money is produced by value, you are able to increase the amount of money you make by increasing the value you create.
And when you think about money that way, there is no limit to the amount of money you can make, and there’s also no limit to how fast you can make it. You’ve taken out the constraint of time and therefore made your potential limitless.
We are conditioned through learning to believe that the value we can create increases over time. School,. experience and so on makes us more valuable. Time, must be invested.
Time is finite and limited, but what about value? How limited is the value you can create and add?
If it’s not time that creates money, and it’s value, then all you must do to increase your income is to increase your value.
And, be honest with yourself about the value you bring to the table.
In network marketing, like our jobs, we have the tendency to undervalue what we bring to the table. We also do a big disservice when we bring people in to launch their business when we say – it’s just $100 to start and that’s it.
Well, that’s really only part of the story.
Would You Be Interested in a Workshop on How to Create a Paid Program?
We give away our time to our customers and our team. And why is that? When you buy a car, they don’t give away free oil changes, for the most part. They get you launched in your car, and there is some free stuff, but pretty soon, you are paying for everything else.
So I would like you to begin shifting how you place value on your time in this business. People WILL pay a premium for value.
Value, in your business can come in the way of many things. You can charge for your time to come in and hands on train customers; you can create a coaching and training and ongoing accountability; or any number of other things in your business and around your product or service.
How Do You Grow Your Mindset
Let’s go back to value being created in your mind. What are you doing to invest in your mind? To feed it so that it produces more value for you?
Personally, I invest dozens of hours each week into my mind, mindset and how I think and act. I’ve been in a learning and growing phase for 25 years! I’ve learned how to take all of my learning and form it into an asset.
I’ve invested thousands of dollars into my mind as well. And, I’ve earned that money back over and over again. Pay attention to what goes into your mind. Feed it only the best and it will give you back the best.
That asset allows me to make money out of thin air, almost. I can lose all of my money, but unless I lose my mind (And I know it’s possible), I can always make more money and I am not dependent on anyone else for permission or to tell me my value.
Increase Your Value Output
You have a number of skills sets too, I’m guessing. What’s your value? When you create value and offer it into the world, you create your own paycheck and your own value and worth.
The world is waiting for it, I promise you. Be as value based as you possibly can. You will always win by creating good value and sharing it. When you know that creating value os what creates income for you, and the better the value is, you can focus on doing your best work. Always!
Don’t get caught in a scarcity mindset of just chasing after the money. Collectively, we have decided that money is valuable as a society. And, it’s just an energy. It has no real value other than what it allows us to exchange it for, in terms of other energy.
Create a Thinking Shift
The thinking shift becomes – money is created by value, and not time. If you aren’t making what you feel you are worth, ask yourself who is placing the dollar amount on your value, and ultimately your time?
And, another shift – if you truly believe that your mind is your most valuable asset because it allows you to control all the other areas of your life – your time and value, and money, then begin to ask and answer – how will I do this?
If you’re willing to agree or at least consider that it’s not time that creates money, but money that creates time, or time freedom, and that the way to create money is with your mind by creating value with your mind, you may be asking “How do I do that?” How did you do that?
I started believing that my mind held the answers, and it is my most valuable asset. And, I put my time and energy there with what I take in with my mind; reading, podcasts, seminars and education. Positive input.
If you believe this, too, then answer this – How might you treat your mind differently?
Same with your business investment. It may only be $100 to start your business, but that’s only tip of the iceberg, if you want to be successful.
Convention, tools, outside training, coaching potentially, and more.
If you buy a McDonald’s, you can’t opt out of the French Fry or shake machine.
In summary – Value creates money, our mind creates value. Spend time feeding and taking care of your mind and producing value for other people with the mind, there is no limit to the amount of money and abundance that can be created.
10X your income by 10X the value you put out!
How I Did It
You know my story. 1999, frustrated and not making what I felt I was worth, I was searching.
Gave up a Saturday in October and attended an internet seminar. That started my on this 19 year quest for knowledge, education, implementation and then teaching. I made a decision then that someday I would teach this to make the path simpler for others.
The circumstance was this – there is huge opportunity to make money online without leaving my children and my home.
I created this thought in my mind, I can do this and then I can teach others, and make it easier than I was experiencing.
Feeling – Excited, scared, hopeful, determined, and committed. Willing to put in the time and energy.
Results – lifestyle pinch me business around the globe!
What’s your money philosophy? Is it serving you? How do you want to shift it to serve you better?
Value buys you money, and money buys your time back.
DIRECT SALES BUSINESS COACHING
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