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5 Money-Mindset Hacks for Entrepreneurs

Yes, you can work like a horse, make all kinds of big plans, stay up late and get up early. But if your head isn’t in the right place, you’ll never get ahead. It’s really that simple.

5Money-Mindset Hacks for Entrepreneurs

A second job? Forget about it. Unless that second job is digging gold bricks out of the ground, you’ll never get ahead. Lack of sleep, lack of a life, an abundance of stress, poor eating – the last thing you need is a second job.

And you know it. It’s why you’ve got your own online business or you’re starting one. So is mindset even important? Shouldn’t you be concentrating exclusively on the mechanics of your business?

The fact is this: Without the proper mindset, the mechanics really won’t amount to much. If you don’t believe you can do something then the odds of you actually accomplishing it are slim. And if you do momentarily succeed, your own self-sabotage will reverse that victory in a hurry.

Here then are 5 money mindset hacks you MUST have to permanently increase your income in a dramatic, gratifying fashion:

Believe in yourself and your abilities.

To say this is key is an understatement. If you don’t believe in yourself, you will actively find ways to fail, whether you realize you’re doing it or not.

We all deal with being vulnerable, feeling uncertain and fearing failure. But you’ve got to trust that by moving forward despite these feelings, you’ll figure it out. It’s a matter of stacking small victories one on top of the other. Each victory should give you some small boost in confidence that you can use to earn the next victory, and so forth.

This is why having a big hairy goal often doesn’t work – you don’t believe you can accomplish it because you’ve never done anything like it before. But if you break that big hairy goal down into tiny simple goals, and then accomplish them one by one, soon you will believe that yes, you truly can do anything you set your mind to.

Lose your money blocks.

If you’re perpetually short of money, you’ve likely been programmed to have a negative relationship with it. During your childhood you heard things like, “Rich people are crooks,” and “Money is the root of all evil.”

Two things you can do to lose your money blocks are…

Reprogram yourself. The subconscious believes whatever it hears over and over again. To reprogram your subconscious takes work, but it’s worth it. When you think, “I have to work hard to make money,” correct yourself with a statement such as, “It is so easy and fun to earn money.” Choose 2 or 3 positive affirmations and turn them into mantras that you say to yourself throughout your day and as you fall asleep.

Find friends who are good at making money. Connect with others who are on the same entrepreneurial path you’re on. Talking to, relating to and being around people who easily make money will help you to see it’s alright for you to make money as well.

Declutter your life.

This one is simple – if you have a lot of useless stuff lying around your office, your home and your car, you don’t have room for the abundance you’re seeking. You don’t have room to grow. Money loves speed, clarity and clear space. It hates clutter. Get rid of everything in your life that serves no purpose and organize the rest.

Be ever so grateful.

Let go of resentments. Forgive positively everybody of everything, with no exceptions. Holding resentments only hurts yourself – it doesn’t hurt the person you refuse to forgive. And be grateful for everything you have in your life, as well as those things about to come into your life.

Forgive yourself for your financial past.

The person you most need to forgive is yourself. And you might have to do it over and over again. Forgiveness is a funny thing – today you forgive yourself, tomorrow you’re berating yourself again for the less-than-wise decisions you made.

Any time you find yourself beating yourself up, forgive yourself. You did the best you could at the time. Remind yourself that the past can never be undone, and you can’t live there, either. But you do have today, so make it count.

Now, most readers will nod their heads at what they just read and forget about it. But a few – perhaps you – will take this advice to heart and begin making the changes necessary to realize your financial goals.

For you, this could be the start of a whole new financial life – one of abundance.

Have a Mission, and the People Will Follow

Rosa Parks was a woman, a relatively ordinary black passenger on a bus going into town one day in 1955. At this time, black people had to give up their seats on public transport for the white passenger; a rule that most followed to keep the peace. But not Rosa.

Have aMission, and the People Will Follow

One day, she had had enough. Her mission was to encourage the civil rights of black people in her community and she felt that this rule was both unfair and demeaning to her cause. So when the bus driver got angry and told her to give up her seat for a white person, as was normal – she did something unheard of. She said no.

This small message to the people around her was the sparking of the Civil Rights Movement and was a key action in the future equality that stemmed from this fight.

Sometimes, in life, you have to be congruent with what you want others to see and experience. Sometimes your business name is not nearly as important as what you stand for. In fact, a well – written or explained mission statement can be the most vital part of your marketing strategy and it can change customer loyalty.

For example, the first store branded as “Trader Joe’s” opened in 1967. This Californian store, despite having a very unexciting name quintupled the number of its stores between 1990 and 2001, and multiplied its profits by ten. Trader Joe’s sales for 2009 was estimated at $8 billion.

In 2010, Fortune magazine estimated Trader Joe’s sales per square foot of floor space to be $1,750 — more than double that generated byWhole Foods Market even though technically they were much bigger with more advertising coverage. Why? Because they had a very clever mission statement that customers believed in and backed. Their statement was this:

“The mission of Trader Joe’s is to give our customers the best food and beverage values that they can find anywhere and to provide them with the information required to make informed buying decisions. We provide these with a dedication to the highest quality of customer satisfaction delivered with a sense of warmth, friendliness, fun, individual pride, and company spirit.”

This statement puts the customer and the customer experience central to the reason that they do business and their customer service policies back that up.

If you wish to succeed online in the same way, you must ensure that no matter how small you are or what product/service you may be selling – that you include a mission statement. One that shows the potential clients what you stand for, what you wish to achieve for them and how you plan to do so. This makes you believable, it gives you value and shows that you have ethics.

Not every online business has a mission statement. They think they don’t need one. They focus all their energy on branding, naming and selling their products and forget that being personal and driven in a very transparent way can absolutely double or triple your profits.

If you are one of these brands that have not yet developed a mission statement – I suggest you get working on one. It is also good to help you understand where you are at and where you want to go. Research some of the most effective mission statements and see what the biggest companies are portraying on their websites and through their ad campaigns to generate inspiration for your own mission.

People like to buy from genuine businesses who know and are congruent with what they are doing. It makes you unique to your message and shows people that you are not all about making money – you have some aims and objectives too that are very important and should be known.

If one black woman on a bus can spark an entire change in the world, who’s to say that your well designed mission statement won’t change the face of how you do business and how important you become to the customer?

What’s Great about Continuity Products?

Two words: Recurring Payments

If you’re like many online marketers, you might think the key to success is having a huge list of subscribers and tons of customers. And of course, both of these things are good…

What’s Great about Continuity Products?

But if each customer only buys from you one time, then much of your time, energy and resources will be spent on forever finding and selling new customers.

If, however, you can increase how often each customer buys from you, then you can make more sales while doing far less prospecting.

For example, imagine if each customer buys from you 6 or 8 times instead of once. And imagine if you only have to sell them once for this to happen…

… you can begin to see the power of subscription payments.

And it gets even better…

– Because your average customer value is higher, you can actually afford to ‘buy’ new customers through targeted and tested ad campaigns. This literally takes the ceiling off of your income.

– People who buy from you on a subscription basis are much more likely to buy other products from you as well.

– You can spend far less time hunting for new customers, and more time cultivating the customers you already have.

– You continue to get paid until the customer does something to stop these payments. It takes effort on their part to overcome their own inertia and figure out how to unsubscribe. Often it’s easier for them to put it off, sometimes for months and even years.

– If the service or product you’re selling brings a tremendous amount of value, they’re not going to want to cancel. Ever.

– You have an excellent idea from month to month of what your income will be. You’ve got financial stability. You can plan ahead.

Continuity products can be clubs, memberships, subscriptions, software and so forth. It’s a product or service that the customer subscribes to, usually on a monthly basis.

As an affiliate, you receive a percentage of the sale each month as the customer renews. As a continuity product owner, you receive payments as long as the customer stays subscribed. You receive full payments if you made the initial sale and partial payments if your affiliate made the initial sale.

Some of the best continuity programs for affiliates involve a service or subscription that is a valuable part of the customer’s business. For example, if someone is making money with their list, they’re not going to give up their autoresponder. Some marketers make ongoing 4 and 5 figure payments each month from just one of these continuity programs, such as Aweber.

Other marketers start their own continuity program and find financial security within months and sometimes even just weeks.

A huge weight is taken off your shoulders when you KNOW that next month “X” number of dollars will be coming in, even if you don’t sell anything new. And you can use that money not only to live on, but also to reinvest into your business such as advertising to drive more customers onto your lists, where you guide them into more continuity in your quest to help them and accelerate your early retirement.

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