Your Money Mindset (Part 3)

How do you feel about money?

As with your mindsets around price and business and success, your mindsets around money could be holding you back.

My clients set targets for revenue (the size of their businesses, if you like) with a wage PLUS a net profit margin of 10%.

Do you have a target or an income in mind for your business?

How do you feel about that?

Obviously, you want it and it’s appealing. 

But does it feel realistic and achievable?

Do you feel like you deserve it? 

Or you will by the time you get there?

What do you think your friends will think of you? Or your family?

It’s common for people to feel a fear of leaving those people behind if they make more money (and those people don’t).

How do you feel about people who’ve made a bit of money (more than you got)?

Anything coming up?

Some common money mindsets are:

  • Rich people got their money by luck or inheriting – they don’t necessarily deserve it.
  • Rich people are mostly a***holes.
  • Money turns you into a snob.
  • Money doesn’t come easy, you have to work for it.
  • Rich people are better (than me).

Do you see that you might hold some negative money mindsets and that they can cause you to sort of self-sabotage?

They might contribute to you not doing the work that will help you grow your business (and make more money).

Maybe you’ll:

  • Not charge enough
  • Not make those calls
  • Not delegate well
  • Not live
  • Not invest
  • Not manage your money
  • Say things like, ‘As long as there’s money in the bank, I don’t worry.’

So these are risks to your goals of having more money and it’s worth trying to change those mindsets that could be causing you to behave this way.

So try to adopt some positive and helpful money mindsets.

Things like:

  • It’s okay for me to make those margins. It’s not greedy, it’s fair.
  • It’s okay for me to make my wage and a profit for my business.
  • When I’ve made a bit of money, I’ll deserve it.
  • When I’ve made a bit of money, I won’t be a c*#k.
  • When I make money off the efforts of my team, I’m not being a skanky capitalist exploiter, I’ve done the work of finding the work and organising everything so they can do it.
  • I’ve made a list of all the cool things I’m going to do with the extra money I’m going to make. It’s going to be great.
  • I have a responsibility to my business and all the people it supports (me, my staff, my family, their families, my customers, my suppliers) to keep it healthy – which means profitable.

Do you see what I mean here?

Don’t be talking yourself out of making money.

Talk yourself into it.

Start by getting some business coaching.

There are four ways you can engage with me:

1. Subscribe to these emails and get them once a week in your inbox so you never miss a video from me.

2. Join the Trades Business Toolshed Facebook Group where you can watch these videos, ask me questions or talk to your peers.

3. Attend my next Tradie Profit Webinar.

4. Book yourself a 10-minute chat with me. We’ll talk about whether coaching is right for you now and if it is, we’ll go further into the process before you have to make your mind up.

See you later.

Click here to book a money maker call with Jon.