I want to talk about how to live an abundant life.
I recently read the study about a gentleman who researched 1,700 millionaires and billionaires. He found out the common thing that was true about all of them was their abundance mindset.
Now, what’s the difference between an abundance mindset and a scarcity mindset?
The biggest problem we have when we want to build wealth is the scarcity mindset. It’s a mindset that says, “I need to save money here”, “I need to save money there”, and “I need to be cost-efficient”. So we’re trying to save as much money as possible. I’m not against being smart when it comes to being cost-efficient but the problem is where do you invest?
See wealthy people measure return, not the cost.
If you measure the return, you don’t worry about the cost. As long as the return makes sense, you keep investing. That’s being in an abundance mindset. You’re constantly investing in people, in space, in equipment, in marketing, and etc. You’re constantly in this investment mode
One of the most important places that you can invest in is yourself.
In our organization, we get gigantic results for the people we work with. I mean the amount of return that we get for them is phenomenal!
As a matter of fact, we quantify that return and are constantly making sure they are getting the return for their investment. Even though we quantify the return for them, still so many individuals are worried about the cost or initial investment. As soon as I start showing them the cost, they say “how can we afford this?”. But I ask, “How can you not afford this? You have to find a way to do it because I will grow your revenue so significantly. I will give you so much return, it will impact you, your entire team, your business, your relationships, and really everything.” That’s an abundance mindset.
I did a study one time between the people that paid me the least amount and those who paid the most. Who do you think got the best results? Now, this is not a sales tactic. The truth is the ones with a bigger investment got the best results. And it makes sense if you think about it.
Let’s say you want to get in shape. You could just buy the gym membership for eight dollars a month. But what if you got the membership to an elite gym and hired a personal trainer? And maybe you went to Whole Foods and ate only organic? Then you began reading the nutrition and fitness books and you kept invested over and over again. Wouldn’t you agree that you’ll get better results when you invest more heavily into your growth?
The same thing happens to your own education in your business. You have to have the willingness and the ability to invest heavily in your business.
The biggest mistake that you can do is operate in the scarcity mindset. And we all fall into a scarcity mindset at some point but we gotta change that mindset if we want to succeed.
So how do you cultivate an abundance mindset?
Start by changing your thoughts and the questions you ask yourself. Instead of thinking about cutting back. Start thinking,
“How much more revenue can I make if I invested in this?”, “What are some new ways to increase revenue?”, “How can I help grow my team’s abilities?”
If you’re gonna learn to become really good at creating that abundance mindset and become really good at communicating it, you have to begin changing your way of thinking.
Think about it from this standpoint.
Instead of hiring the cheapest, invest in hiring the best and most talented team members who fit your company’s culture. Then continue your investment in their abilities and skills whether through continued education, conferences, books, and etc. What results will that bring?
Your business will grow because you invested in better team members so now instead of having people who are lazy and take no initiative because you hired the cheapest now you have the best and the most talented and they work hard to go get you the best clients.
What if you invested in your attire? When you look more successful, you’ll feel more successful, and you’ll attract successful people, and then before you know it, you’ll wake up and you find more successful than ever before.
At first, you’ll have a period of time where you struggle and you’re putting a lot in with a low return. But you have to understand that you’ve got to actually do it continuously over a period of time. The compound effect of having an abundance mindset over five or seven years will create the lifestyle you want. The business you want. You’ll be able to have all the things around you that you’ve always wanted because of the fact that you invest in you and your business.
Measure the return, not the cost
Have an abundance mindset.
Impact those around you.
It’ll make all the difference.