[ThursdayClub] Maneuver your Mind!
Happy Friday Insider!
One of the biggest lessons I gleaned from Rich Dad Poor Dad (Amazon affiliate link) was this:
If you say: “I can’t afford it”, then you prevent yourself from thinking about various possibilities to grow. Instead ask this question, “How can I afford it?”, this allows your brain to consider all the possibilities.
If you are serious about moving from the left side of the Cash Flow Quadrant to the Right this simple yet powerful maneuvering of your mindset is critical. Reminder E = Employee, S = Self Employed, B = Business Owner, I = Investor.
Part of this mind shift is the willingness to not only believe you will succeed but you have to be willing to take risks.
It’s not easy leaving the comforts of a job and moving to self-employed! In fact, it’s damn hard! It’s even harder spending money you may not necessarily have or want to let go of to move from Self-employed to Business owner. As a refresher, the difference between the two is self-employed people do it all and are still trading time for money, where a Business Owner leverages the power of other people’s talents and time to make money.
I suffered miserably for years in the self-employed world. It’s hard work, you suffer incredible burnout and in turn, you begin to hate your life. At one point I even went back to employee which in retrospect was smart. I learned some new skills, got a breather from my mayhem, and earned a nice living – allowing me to regroup, reset and plot my next business which is now Red Barn Consulting.
Other key takeaways from the book for me were the following
Financially successful people…
- Work to acquire life skills, not earn money – perhaps one of the best things I’ve ever done!
- Become fluent in risk-taking
- Are avid and voracious learners
- Remain focused on the end goal
- Are financially literate and understand how to maximize their money including knowing the tax laws – this one I’m still working on!
- Are NOT cynical – they can channel emotions
I would love to hear your outtakes on the book – did you like it? Learn anything from it?
Next week we will wrap up this month and I hope you are moving towards the right side of the quadrant!
Cheers!
CD