How Your Belief About Money Affects Your Profits
Our money belief system can shape how we think about revenue for our business. When we are kids, we are raised with certain belief systems around money. Usually, those beliefs come from our parents and the language they used when talking about money. Did you hear them say things that were positive or negative toward money? Did your family create a habit of saving or were they spending more than came in?
As an entrepreneur who has had 10 successful businesses, I can tell you that my thoughts and feelings about money have definitely changed. When I started my advertising agency, I had no financial support, no inheritance looming, and zero in my savings account. I knew my business would be successful and I knew that the money would come.
The way I saw it, I had three choices:
- Cave into the pressure, stay stuck and allow life to continually overwhelm me.
- Resort to the same habitual ways of doing a job (or making money) that continually left me feeling emotionally flat and worn out.
- Step out into the big unknown world, face my fears, and aim for a life with purpose.
To this day, I’m so thankful that I dug deep, gathered my courage, and opted for Door Number Three. Many people stay immobile and stick with Door Number One or Door Number Two because they feel that nothing is worth risking the security and stability of a lifestyle that they feel familiar and safe with, even if they’re unhappy. I’m not criticizing this choice. Only you can determine the right path for you. There are real issues of responsibilities, the cost of living, education, and retirement. I get it. Remember, I was there.
What I can say to help quell your fears is that when you’re following your passion, the excitement and momentum you expel can create a financially rewarding outcome far above and beyond your survival consciousness. The key is to move from survival thinking to abundance living.
“I had to make my own living and my own opportunity. But I made it. Don’t sit down and wait for the opportunities to come. Get up and make them!” ~Madame C. J. Walker, Haircare entrepreneur, philanthropist, the first woman to become a millionaire by her own means according to the Guinness Book of Records(1867-1919) Blast Of!
How has your money belief system shaped your business? Can you get past those fears and thrive?
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Allison Maslan, CEO of Pinnacle Global Network, is the Wall Street Journal Best Selling Author of Scale or Fail, which is endorsed by Daymond John and Barbara Corcoran of Shark Tank. Allison’s built 10 successful companies starting out at age 19.
Now she and her team of CEO Mentors pay it forward by helping business owners scale their companies, fast-track their success, and create a more meaningful life. Pinnacle Global Network, a world leader in scaling companies and empowering business leaders has guided thousands of CEO's and Founders to success over the past decade. Allison’s been featured in Inc., Success, Fortune, Fast Company, and Forbes Magazines, is a regular contributor to Entrepreneur Magazine, and a featured expert on ABC, CBS, NBC, CNN, and Fox across the US. She is also the host and producer of The Scale or Fail Show podcast, and the Women Who Own it Podcast in partnership with WBENC, the largest certifier of women-owned businesses in North America.
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