Whether or not you realize it, your earnings will always be in line with your mindset. Think big and you will get much bigger results; think small and…well, you can guess what that brings. The key to growing your business is thinking big!
What happens when you think small?
You end up thinking about how you’re going to “get by,” or “make it one more month.” Chances are you’re thinking of the immediate short term, just enough to save you temporarily. Another aspect of thinking small is thinking in terms of compensation on an hourly scale. You can’t even think in terms of investments or what would benefit you long term, because you can’t afford to. When you think small, you can only focus on making money for the here and now.
What’s the first thing when you consider a new project, application or business expense? Could it be how much it’s going to cost you? That mindset alone will keep you trapped where you are until you figure out a new way of thinking.
To break out of the “thinking small” shell, start considering the value of what it is you are investing in. What will it help you accomplish? What benefits will it deliver? Will it help drive sales? Will it help build your business? Will it free up your time? Those are the questions you should be asking yourself.
What happens when you think big?
Wealthy people think differently, and that’s no secret, but, what may not be so obvious is how their mindset directly affects their ability to continually grow. They have simply learned through experience or from the guidance of a mentor that there are successful ways to do things – and they know it all starts with mindset. They learn these traits, study them, and perfect them until they make calculated moves that are more times successful than not.
Remember that software that you didn’t want to invest money into because you thought it was too expensive? Well, that was the first thing your successful counterpoint purchased! Why? Because it cut time by a third, reduced expenses and increased revenue. While you’re still struggling, the wealthy have learned to leverage their business to allow it room to grow. See the difference in the mindset?
Now this isn’t to say you should waste money on non-essential or even useless tools, but there is something to be said for the benefits of thinking big.
Something else the successful do that the struggling do not, is know when to take calculated risk. While you may not be in a position to take any risk at all, the wealthy are continually leveraging their investments. Whether those investments are in the stock market, real estate, business acquisition, outsourcing, product shifts and redesigns, or any other number of examples, each investment is essentially a step up. What steps up have you taken lately?
They also watch for viable opportunities to build additional income streams. How many income streams does your business have? If your answer was one, you’ve got to start thinking big.
Adjusting your Mindset
If you want big results, you have to learn to think big. By becoming a go getter and ignoring your inhibitions you’ll become more confident and therefore be able to accomplish business growth. There is simply no trick, method or product that will successfully turn you into a successful entrepreneur if you continue to think small. You’ve got to push the limits, step outside your comfort zone, and reach farther. Here’s how you start:
Think of one to three ways to increase your income. Here are some examples:
- Write an e-book outlining ways to do something you know and think would benefit others.
- Write the Foreword to a book that you think is valuable and give it out as added-value to prospects, and schedule time to talk with them about the key areas of the book that can benefit them.
- Create a 2-tier coaching program (affordable and high-end)
- Gain followers by providing a paid-subscription to a members-only newsletter
- Gain followers by providing a paid-subscription to a members-only section of your website.
- Partner with others who have businesses that you compliment and ask them to do an email blast for you promoting your Firm’s products and/or services. Do the same for them, if appropriate.
- Ask for referrals to everyone your ideal and great clients know who they think would benefit from your products and/or services, and expect the mother mode.
- Call all the people you have had in your pipeline or pool for years and years and they haven’t yet done business with you. Now might be a good time.
- Call all the people who you did a FRM with or an initial meeting with years ago and they didn’t hire you when you made the offer.
- Change to a flat fee model instead of Assets under Management.
- Charge a planning fee
- Increase your planning fee
Now it’s your turn… How would you answer the below?
3 Ways to Increase My Income Include:
- __________________________________
- _________________________________
- _________________________________
There’s certainly nothing wrong with the thinking small, if you’ve been happy with everything you’ve settled for so far. Although you may tell yourself, at least on the surface, that you’re happy with what you have, deep down that probably isn’t the truth.
You will rarely get what you want and you will certainly not get what you deserve when you think small. You absolutely deserve much more than what you’ve been getting. Thinking big is about realizing your potential and getting what you deserve instead of limiting yourself. There is nothing stopping you from growing your business and thinking big – the ability to change lies within you.
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