Do you have a Millionaire or Miser Mindset?

Millionaire Mindset

Nothing happens in the world until something is sold.

Whilst I don’t believe Mother Nature would agree with that statement, it is true of the business world. Let’s face it; regardless of what you do and how you generate a living, it all ultimately comes down to the almighty dollar. Who has more, who will generate more or who can save more. This therefore raises the question:

Do you think like a millionaire or react like a miser?

For many of us, discussing money is an uncomfortable and almost impolite topic. Think about how you feel when you contemplate asking a friend for the money they owe you, or how you feel when you tell your partner exactly how much we spent at the yearly sales.

That same uncomfortable, feeling often rears its head in our professional life. Generally speaking, if you are self-employed or climbing the corporate ladder I can guarantee that you will have to deal with your money issues.

Whilst there have been countless books and articles written about abundance here are a few tips to ensure that your business and career is growing with a millionaire’s mindset.

Policies and procedures
Not exactly inspiring or exciting – but I know a few audit accountants who would disagree.

  • Ensure that your terms of trade are clear, concise and consumer friendly. This way you will avoid any confusion when it comes to discussing accounts or collecting funds.
  • Take care with contra, ‘mates’ rates’ and doing things for free. These need to be mutually beneficial arrangements.
  • Establish a discounting policy and stick to it. It is always easier to refuse a discount when a policy exists.

Know Your Numbers
Know what the market rate is for the service or goods you provide. This will ensure that you are being fair to both yourself and your client.

  • Someone has to be the most expensive, if it is you, you also should be the best in the industry.
  • Everything that happens in business has a cost. Take the time to understand the costs in your business. When you understand what it means and costs in real terms to generate business you will feel more comfortable asking your clients to pay what is charged.

Respect and Confidence

  • Respect the energy and time it takes to earn the income and revenue you generate.
  • Respect your hard won expertise. The skills you have spent years developing.
  • Confidence when you ask for a sale, request an account to be settled or any other finance based conversation comes from knowing the facts and appreciating your worth.

When all is said and done, electricity is not free. When you think of your business in terms of what you generate it becomes much easier to have a millionaires mindset.

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Kylie Gabutto

A born presenter and sales person, with passion for marketing and a knack for getting things done, Kylie has had a varied and interesting career.  She is currently writing her first book and is in the final stages of developing the LAUNCH Program, an on-line program for people who want to get focused and pursue their entrepreneurial dreams. She is professional and is always positive. Most notably, Kylie is motivated.  She understands what she wants out of life and pursues it with passion, integrity and intelligence.  She is a game changer. www.kyliegabutto.com

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1 Comment

  • Reply May 1, 2014

    Kylie Gabutto

    […] Develop a millionaire’s mindset to money and how it is managed in your business. For more on this see the article that I have written for Australian Content Magazine. […]

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