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Why having an abundant mindset is good for business

In today’s episode of the podcast I talk all about money mindset and how important this is as a business owner. I also give you an activity to do that may help your money mindset!

 

KEY TAKEAWAYS COVERED IN THE PODCAST

 

  • Your money mindset can have a big impact on your business.
  • A scarcity mindset: You are scrambling around to make money, you are worrying about paying bills, you worry there is never enough, you say you can’t afford it, you are jealous of those who have more, you worry about competitors, you are scared of change, you believe there is only so much, you hope others will fail and you don’t set any goals.An abundant mindset: You are grateful for everything, you notice the small things, you cheer others on because you know there is enough to go round, you are willing to take risks, you are generous, you want to learn more, you know there will always be more, you think big and set goals, you share your knowledge, you are inspired by others ahead of you and you believe there is enough for everyone.
  • The activity – make a list of the negative thoughts you have around money, then re-write those negative thoughts into better thoughts. Think about what you would say instead. Write down 3 things that could make you feel abundant.

 

THE ONE THING YOU NEED TO REMEMBER ABOVE ALL ELSE…

 

Keep that abundant mindset – it really will help you and your business.

 

HIGHLIGHTS YOU SIMPLY CAN’T MISS

 

  • Why is money mindset important? 03:20
  • Scarcity vs Abundance 04:16
  • Money mindset activity 10:55

 

Transcript Below

 

Hello and welcome to this week's episode of the podcast. How are you doing? So we are nearly at the end of the summer holidays. In fact, if you're listening to this, as it comes out, we've probably got about a week left.

 

And although I love my daughter and my stepson. I'll be very glad when they're at school and the house is a bit quieter and I can crack on a bit. That will be great. How have you managed? It's-it's hard. Like it's really hard trying to do all the things and not trying to shout at them on a minutely basis. It's really difficult.

 

So like I said, I formally be quite glad that they are back at school and I'm confident that you might feel that way too. Okay. So today we're going to be talking about money. And specifically your thoughts around it. So I have, I guess I didn't really think about money in the way I think about it now. Definitely not.

 

I think, I didn't think it was important when I started my business. I saw it as a very practical thing. You know, I asked for money, people give it me if they have my service and I didn't think much about money mindset. In fact, I didn't even know it was a thing if I'm honest. And over the last few years, five, six years, I've been doing more and more and more work on it.

 

And now I feel like I'm really happy with my mindset around money and actually the difference it's made to me and my business has been quite significant. So even though I am not the world's expert on a money mindset, and actually that's on my list of amazing people to get on is someone who can talk about money.

 

I do want to take you through a session that I did at last, at the last SOAR I did, which was in June. I think. We do one in November as well, which is coming up and in a few weeks time, the cart will open again for the Academy for only like four days. So obviously if you get to join then you get to do the November event.

 

So this is one of the activities we did in the event. The event, isn't like, it's not like an event where I bring speakers and you just sit into some speakers all day. It's a really practical event. I do bring speakers, amazing and different speakers that you don't find everywhere else. And my sessions are all around doing practical stuff.

 

So I did this whole session on money mindset because having done all the work I've done doing all the coaching I do in the Academy. I can really see that sometimes this really holds people back. So I want to just go through this activity with you today, if that's okay. And it's just something that you can think about.

 

If you've got a pen and paper and you wanna write down. Then cool. Great. But it's certainly something that you can think about as we're, as you're listening to this, if you're driving or as I do often listen to stuff, when I'm doing my makeup or whatever you're doing, so you'll be able to do it. So don't panic. So firstly, why, why do we even need to think about this?

 

And I think it's really, really important because actually, like I said, it can have some really big impacts on your business. If you don't have the right mindset around money. It's like, so like the mindset thing, we know how important it is, but just the other week I was having a call with one of my Academy members and they were talking about the fact of, they thought they were all full on rubbish.

 

You know, business wasn't very good. And they obviously weren't very good because of the fact that they haven't got the customers coming in. I had to have a real sort of discussion with them and say, just because you don't have a customer at the moment does not mean that you are all those things. And it kind of tips back to that whole mindset thing.

 

If you're thinking in a certain way, You're going to attract more of it. And if you're thinking in a negative way, you might attract more of that. So I just think it's nice to think about money in a good way. Anyway, I'm rumbling. So let me get to the point. So the first thing I got them to do was to think about what their thoughts were around money.

 

Did they have a scarcity mindset or an abundant mindset? So if you have a scarcity mindset, which I definitely had, and I was definitely brought up in this environment, then you think these kinds of things. You're scrambling around to make money. You stress about paying the bills. You worry, there's never enough.

 

Like, you know, there won't be enough business. There won't be enough customers. There's too many competition. You say we can't afford it. And just even words, I know it sounds really like you might listen to this thing and, “Well yeah, we can't afford that thing.” Just even saying that sometimes can have like a trigger in your brain that's like, it kind of says, “Well I'm never going to be able to afford it.” but it might be, I just can't afford it right now, or I haven't got the money for it right now, but I'm going to see how I can. You're jealous when people have more, although ever since I read it, We Should All Be Millionaires with Rachel Rodgers.

 

She actually frames jealousy in another way. As like almost a motivator or knowing what you want in the world. So when you see someone like, I dunno, I was gonna say driving a Ferrari, but I'm not jealous about that. I think I've thought for, they're not built for me. I'm trying to get in and out of one of them in my size had just been absolute nightmare.

 

So, but like, let's say. You know, garden envy, someone's got a humongous garden or they've got a huge team or whatever, whatever, if I'm jealous at that, then that's kind of, she frames it as a good thing. Cause it's like, well, that's what you're trying to aim for. That's what you're trying to go for. Being jealous where it's like, I'm just trying to think.

 

Annoyed or a bit bitter about it. I think that's the scarcity thing. Worrying about your competitors, thinking, you know, well, they're doing it. Now I'm not going to have a business course with change. So you might not want to change and flex as often because you're scared of what's going to happen. Believes there's only so much.

 

So have you ever liked. Oh, this happened to me. I would have plans to launch the Academy and I found out that a potential competitor was launching at the same time. And I thought, what an absolute nightmare, like, you know, that's it now it's going to ruin my launch. And actually that's the scarcity mindset of there's only so much, you know, rather than thinking there's plenty to go around with.

 

You know, we'll be absolutely fine. I hope that others will fail that you look at others and think “Nice one. Let's hope they don't get many members because that means I get more and not setting any goals.” So I'm interested to, you know, as you were listening to me, go through those points, whether you're sat there going, “Yeah I can see myself doing that.” because I totally could. Now, given all the work I've done, I then now try to practice an abundant mindset. So this is the kind of things that you would think about or do if you were trying to be abundant. So the first thing is grateful of everything and I am like crazy grateful of the smallest and the biggest and the teeniest things like going and getting tomatoes off my plan.

 

That is just like the best thing in the world. Driving a really fancy car is really nice as well. I'm very grateful for all of it. So when you start looking at gratitude, it's really hard to be have a scarcity mindset when you have gratitude, you know, because you're so grateful for everything. I mean, as I'm recording this now that the world, well, the world has been a bit crazy generally, but obviously everything's going on in Afghanistan.

 

And, and because my husband was in the military and has been there hundreds and hundreds of times, and he knows lots of people who were still going back in and trying to rescue people. And right now, like I could not feel more grateful for the life we live. In this country in the UK. And that I'm not in a position where I fear for my life, but for being a woman, like how grateful am I of that?

 

Like hugely grateful. And we notice the small things. So I do, I totally notice, the small things. I really make myself pay attention to them. And when I'm doing a gratitude practice every morning, I'll write four things that I'm grateful for. Sometimes big-ish and others times that absolute tiny, you know, like my amazing husband gets up and makes me a coffee in the morning.

 

Like that is amazing. Cheers others on. So when you're in a, an abundant mindset, you know, there's enough to go around and therefore you really encourage and help and support others. And I'm a real giver. Like now I remember working for companies where it'd be like, you know, as if you'll do an exam at school and you've got your arm around your papers so no one could read it.

 

I'm not like that now I'm very open. I give a lot. And the idea of that is one, you know, people get concerned and say to me, not worried, they're going to steal that and do it for themselves. It's like, well, if they do, they do. And I'm not concerned about that because of the fact that I know people will come to me for me.

 

And if they don't want to come to me for me and they want to go to the other person for them, then they'll do that too. So it doesn't worry me. Willing to take risks. So doing a few things that feel a bit risky, knowing that, you know, actually I'm going to spend that money on that coach, or I'm going to do this thing to Uplevel the business, or I'm going to bring on a team member.

 

Generous. I like to be generous like this one of my favorite things. If I'm honest, I love nothing more than offering to pay for things, treating people to things, just giving people bonuses. I love it. I love it. Well, wants to learn more. So again, knowing that there's still so much more to learn so much more we could grow.

 

Know there will always be more. So a bit, like I was saying about terrible example I gave at the beginning of that, that Academy member who's like I haven't got a client and therefore life is awful. If they had an abundant mindset, if they were using their abundant mindset, they think I don't have a client right now, but I know there's going to be another one where it's going to come from and how. I don't know that, but I just trust that it well.

 

Thinks big and sets goals, which again, like if you're being abundant, then you're ready to kind of go “Yeah this is what I want in my world.” Shares the knowledge. We talked about this, and I'll say I'm big at doing this inspired by others ahead of them. Again, this is something that I have done and people have done with me.

 

So I've just worked with someone on my 90 day program who wants to do what I do. So perfect. Come and join the 90 day program and I will show you how I do it. And that's what I did. I find people who did what I wanted or had the business I wanted. And I was inspired by the fact that they did it rather than feeling annoyed or resentful that someone was more successful than me.

 

And I just thought, great, I can do this too. And then believe there's enough for everyone. So again, that competition is not concerned, you know, that there's enough people in this world to be, you know, giving something for everyone. So those are the differences. That's the scarcity versus abundance. So hopefully you've kind of sat there and thought, “Yeah, actually I, I'm good there, but I do often think about that scarcity thing.”

 

So I try and sit firmly in the second list. The second list of all the things that I've just said in the abundant mindset, those are the kinds of things. So then what I asked everyone to do was I wanted them to write their thoughts around money. So make a list of the negative thoughts you have around money.

 

So, and this was really interesting. It was things like, and this often came from other people. So for instance, mine would be money doesn't grow on trees. That's, everyone's heard that. I'm sure people like us don't have stuff like that. My mum used to have this saying, I think it's like fur coat and no knickers or something.

 

It's a ridiculous saying. But like basically saying, you know, it was all for show or whatever. She often saw money as bad as in people who have money are horrible and they're bitches and that, oh, I just swore I never swear on the podcast. I'm so sorry. Yes. Sorry about that. I'll not do it again. You know, that the money it makes you mean and horrible and yes, so many negative things.

 

I'm sure you can sit there and think. Oh, I remember being told this or this is something I say maybe. So I got them to write down their thoughts around money, and then I got them to rewrite them. So rewrite the negative thoughts into better thoughts. So the way I do this, or the way I encourage the members to do this is sometimes it's not as easy just to rewrite the thought.

 

So let's say people who have money are evil. Sometimes you might go to rewrite it and think, oh, I'll re rewrite it's saying people who have money are just lovely and you don't believe it. So therefore that can be a bit hard and it feels a little bit like not disingenuous, but just feels like you're going through the process.

 

You don't believe it. So what's the point in writing it down. So what I like to do then is if it feels like a bit of a stretch to just flip it into a positive, I like to see if I can disprove it. Is there people that have money who are actually very nice. Well, yeah, I can think of lots of people that are nice that have money.

 

So actually I can believe that that's not the case. And I might just write in my, my next section where I want to rewrite these negative thoughts. I might write not everyone who has money is evil. I know lots of people who are lovely and kind and generous who have money. So whatever you were thinking, and if you've, if you're writing this down or you're coming back and listen to it again, you've written it down basically next to it.

 

You just want to write, what would I say instead? Money doesn't grow on trees is another good one. So you might flip that to money's everywhere, like, and it is, it's everywhere. Like just constantly the world's obviously goes around with money. So you might want to have a think about how to rewrite them.

 

And like I said, if you can't rewrite them, then try and find an example that has, that has proved that statement wrong. Another one like that you have to work really hard to get money. Well, I know people don't work really hard and have lots of money. So that statement isn't true. Either rewrite it, or think of an example where you can disprove your statement.

 

So once I've done that and they wrote down them, I gave them a couple of exercises to do. I got them to write down all the amazing ways that they are abundant. And I didn't give them like ages to do this because this sort of thing you could go on forever, because most of us, and if you're listening to this podcast, I'm assuming you're the same.

 

Most of us have lots and lots and lots to be grateful for. You know, we might have a house, you know, that we live in, we might have food on the table. We might be able to, you know, keep ourselves clean, brush our own hair. We might be able to breathe and walk and like there's so much. And like I said, you know, when you go into it and you start to realize actually how very lucky am I, it's huge.

 

So like I said I got everybody to write down. What, what did they abundant for and how are they abundant? Then I got them to write down three things that they could do to make them feel abundant. Because it's a feeling. It doesn't mean you have to be really rich to be abundant. So can I tell you something really silly?

 

One of the things. So my friend Ailish talks about do what makes you feel bougie? Okay. So she has sparkling water and fancy teas. They make her feel bougie. So for me, like, if I want to feel really rich, this is gonna sound absolutely ridiculous. I buy Ziploc sandwich bags. And I'm just waiting for dramatic pause.

 

Cause I think you were thinking, I was gonna say, you know, speed boats and champagne, no Ziploc sandwich bags. I know how ridiculous this sounds as I'm saying it. Basically we were poor when we were little and we were the kids that went to school with like tinfoil sandwich, like sandwiches wrapped in tinfoil, like, I hated it.

 

And, and the, the people who at school with if they had like a proper sandwich bag, you'd think “Ah they're rich got loads of money.” So for me, like that is a ridiculously stupid, but amazing one to do. Like if I buy them and we have them in the house, I suddenly feel like, “Oh my gosh, I am so abundant.” So I got them to write something.

 

Then it might be another thing that makes me feel really abundant is I have a fresh flower delivery every other week. That makes me feel super abundant. It's like, that's amazing. It doesn't have to be crazy expensive. It could be the feeling abundant might be taking the afternoon off because you've got the luxury to take some time off.

 

So whatever it is, like I said, it doesn't have to be, I made of money, so I can do this, or certainly not put yourself in debt to do something or spending money that you haven't got. But there are so many ways in which we can feel abundant. So, so many. Let me just run through those things again. So I gave you the list of scarcity and abundant mindset.

 

So scarcity was things like scrambling to make money, stress about paying the bills, worried there's never enough, thought you can't afford it, jealous, worry about competitors, cautious with change, won't show your knowledge, believes there's only so much hopes that there was fail and never setting goals.

 

Whereas an abundant mindset is you're grateful for everything, you notice the small things, you cheer others on, willing to take risks, generous, wants to learn more, knows there will always be more, thinks big and sets goals, shares knowledge, inspires others ahead of them and believes everyone is enough.

 

And then I got you to think about what your thoughts are on money. What are some of the words that may be your thinking like that aren't that positive. And some of these sayings that you just say, and you don't even think about it, then how can you rewrite those? And if you can't rewrite them confidently without really truly believing it.

 

Can you at least find an example that disproves your statement. Then write through all the ways in which you're abundant, which there'll be millions. And then the last exercise was what three things can you do to make yourself feel abundant. Buy Ziploc sandwich bag, if you're like me. Um, anyway, so, like I said, I am, I'm on the lookout for someone awesome. To talk about money mindsets with you guys. And obviously I will bring them on the podcast when I find them. But in the meantime, I just wanted to go through this. It's really, really important. Like I said, when we're in business, if life's hard and, and especially through summer, like a lot of the coaching calls that I've done, a lot of the people I've spoken to have really struggled through summer because it's summer and children are off and life is a bit different.

 

So sometimes that mindset could really spiral you down. Whereas if you try and keep that more abundant mindset, You might feel a bit happier about it all.

 

So there we have it. Next week we have an interview and a fit, I think next week we're talking about LinkedIn advertising. I think that's, what's lined up, which is interesting.

 

We've never talked about it before. So I've got an expert coming in to talk about that. And next week, I'm going to tell you about the upcoming boot camp that is coming back again. It was so good the first time. So many breakthroughs, so many amazing comments and businesses all kind of set up ready to, to create their dream businesses.

 

So, yeah, look out for that and get ready to sign up for that. Okay. I will leave you for today. Have a great rest of your day and I will speak to you soon.