To go from being a salaried employee to the life of a million-dollar entrepreneur, there are some massive mindset shifts that have to take place. In fact, there are seven shifts necessary for this transition.
I know this from my own experience. I started out as a salaried worker on $30k a year straight after college, so I know that to go from earning a few thousand dollars a month to earning a few thousand dollars a day is a massive leap.
1. If it is to be, it is up to me
This means eliminating any trace of victim’s mentality, and you can find out more here. It means you quit playing the blame game and making excuses for your circumstances and your mediocrity.
Say to yourself: “I’m the only one that’s responsible for where I am and where I’m going.” That doesn’t mean that there aren’t other people involved, but life is only 10% of what happens to you, and the rest of it is how you respond.
The main difference between entrepreneur mentality and employee mentality? Taking responsibility. An employee clocks in and out and their sense of ownership matches the shifts.
Even as a manager, you always have a boss to go to if you need help. As a business owner, the buck stops with you. Therefore, if it is to be, it’s up to me.
2. Champion’s mentality
The definition of a champion is: “someone who knows the rules of the game and is willing to play by them better than anyone else”. There are no excuses here – you’re committing to be the best in whichever arena you’re playing.
To truly stand out in the world and create the level of abundance you want, you have to be willing to create the same level of value. Don’t apologize for creating a certain level of income – your long-term, sustainable income is always created by long-term, sustainable value.
Over time, your character will speak louder than your sales pitch, and people will recognize your achievements. They won’t be fooled by a flash-in-the-pan person offering a quick solution.
Your income is directly correlated to the number of people you help and the problems you solve. When you can help people to help themselves, your income will increase exponentially.
3. Learn to work the numbers
When you learn to work the numbers, it takes away the emotion and lets you take control of your outcome. And your income! This is especially key for women, because we’re emotionally driven and tend to ride those highs and lows in our business.
Women tend to work when they feel good and don’t work when they feel bad. But a stop/start mentality doesn’t help you grow your business or your income. By taking away the emotion, you can work consistently out of discipline.
Learning the numbers allows you to stop guessing, and to stop working only when you feel like it. This is mission critical in any industry. By knowing the averages and playing them, your results will come through.
Do the research, know the average metrics, and fine-tune them to create your own metrics to make you more productive and start to change your mindset.
4.The law of likeability
People do business with people they like, just as in your personal life you’ll see that people want to hang out with likeable people. If they don’t want to be around you, they won’t want to do business with you.
It’s not easy to master this law. Personally, I struggled with it because I’m ‘Type A’ – a control freak with a strong personality. I know what I want, but it doesn’t always work if you’re an entrepreneur and you rely on other people to support you in your business.
Here’s a fun analogy to help you think of the best way to work with people. Remember the Billy Ray Cyrus mullet? In the 90s, we called it ‘business in the front, and party in the back’, because it was short at the front and long behind.
Instead, aim to be a reverse mullet! That’s ‘party in the front, business in the back.’ You’re showing up to party, but there’s a purpose to it. It ties into mastering people skills and attracting people to you with dynamic interpersonal skills.
The reverse mullet approach lets you go to where the people are. Network and make connections, attract your clients and share value; but all the while have your business objectives in the back of your mind.
5. Boundaries for a Healthy Mindset
I call this my favorite B word, and I’ve talked about boundaries in other blogs and vlogs. They’re so important, and I’ve worked hard to develop and implement strong boundaries so I don’t get lost in the shuffle of everyday life.
First of all, learn to say ‘no’ pleasantly and persistently; with kindness and grace. It’s an iron fist in a velvet glove. For me, once I’d done that, I had to learn to factor in ‘me time’ and build in a buffer to keep my own cup filled.
You have to be able to refuel when necessary and keep your energy levels up. It’s impossible to give to other people when your own well has run dry.
I’ve also had to make the firm decision to eliminate negative people from my life. Sometimes they become negative and you have to constantly filter to see if a person is having a negative influence on your life.
A final ‘boundaries’ tip is to batch or block your time. Keep your personal time and tasks clearly separate from your personal time and tasks. For me, these are also separate from my philanthropic time and tasks.
Block out time to put on these different hats. It will allow you to batch your work and be fully present in the moment. You’ll find you become much more effective and efficient and your passion levels will stay high. You won’t get lost in the shuffle.
6. Upgrade from a positive mindset to a success mindset
These sound similar, but they’re not the same. You may know people who seem positive, but they’re negative in disguise. Or they’re a martyr. They’re grateful for your attention and tell you what a hard time they’ve been having.
Think of these people as Eeyore from Winnie the Pooh. They think they’re positive, yet they’re anything but. On the other hand, you don’t have to be Tigger either!
There’s a risk of being fake and phony there. Instead, make an effort to let your own unique light shine through. Be genuine and authentic; real and raw, the people around you will appreciate that.
A success mindset means you say: “I WILL succeed. I AM succeeding. Failure is not an option and success is non-negotiable.” Manage yourself so you don’t give in to the mentality of shrugging your shoulders and saying, “Oh well, I did my best”.
That’s an excuse. You can always push yourself further and go the extra mile. You’ll always be tired, so decide if you want to be tired from work or worry. Remember: when you’re working, there’s no time to worry!
7. Adopt personal growth as a lifelong obsession
OK, not all obsessions are healthy, but this one is! All the other belief systems I was able to develop in my life and the negative elements I’ve eliminated have enabled me to change my life.
This has entirely transformed the way I show up and do life now, compared to when I worked as a salaried employee in a corporate bank. My obsession with personal growth has probably served me better than anything else I’ve done in my life.
I upgraded my ‘financial thermostat’ – moving from accepting my first job at $30k then $40k on a corporate banking salary to creating and attracting a $40,000 a month income as my own boss. I had to overcome all the limiting belief systems that were holding me back.
But this was only possible due to my ongoing commitment to personal growth and professional development. We must embrace the idea that we are truly limitless. For me, this has only come through my obsession with personal growth.
That’s not the world I grew up in. Life teaches us to feel restricted by circumstance and situations. There were all kinds of limitations on me, just like everyone else has. But I no longer believe that.
The transformations in how I think, my world view, and how I perceive reality came because of my commitment to ongoing personal growth. And my mindset completely changed as a result.
How can you shift your mindset?
I believe that anyone can learn to be superhuman, if they’re committed to the journey and the process. You can do everything with happiness and choose joy; to release the stress over the results.
For me, these seven mindset shifts led to my ability to build, attract and create a million-dollar income, and to sustain a level of success I never dreamed was possible as a child. I do this not just to rack up a bank account, but so I can make a difference in the world around me.
Life is not about how much you make. It’s about the impact you make on the world. The more I make, the more I can give and share and create a bigger influence.
A lot of things in this world cost money; money makes the world go round. What do you want to do with your money? Perhaps you want to help your loved ones and to solve the problems you see in the world around you. Great! You can create anything you want in life if you’re willing to believe in yourself and put in the effort.