Change Your Mindset, Change Your Money
You own a business … but howmuch money are you actually making? You’re grinding it out, working hard in your business, but does it feel like you’re moving one step forward and two steps back? Maybe you’re making some money, but not the money you were hoping to make. And maybe you’re now thinking, “Is this what it’s going to be like for the rest of my life?“ I see this among a lot of service business owners. Their business might be busy, and their company could seem successful from an outside perspective, but what everyone else overlooks is how hard you’re grinding it out every day, and the fact that you pay your team first, and you sometimes don’t have a lot left over afterward to put food on your own table. It’s easy to think that this financial shortage occurs because of high costs or high wages or a lack of customers. And those can play a part. However, it might surprise you to discover that there’s something else going on — something behind the scenes that you may not even realize. I’m talking about your mindset. Yes, this surprises and even offends some people, but when you understand it and address it, it will change the game for you. Here’s howmindset makes all the difference. Most service business owners think of their company as a job that they happen to own. They work hard and put in a lot of hours in the hopes of growing the company. They think that if they put in more hours, the company should grow larger. That thinking, though, only applies to jobs where you are paid an hourly wage by someone else, NOT a job at a company you own. No wonder some service business owners burn out even when everyone else thinks they’re doing well! If the paragraphs above describe your situation, then this could be the most important article you’ll ever read.
As a business owner, you need to think differently: you need to think of your business like a wealth-building machine. Your work as the owner is not to grow the business or keep it running. Rather, your job of a wealth- building machine is to build the machine so that it runs on its own. This was a big change for Rob and I in the service business we grew from scratch. We were treating the company like a job, showing up every day and putting in the hours. As soon as we stopped thinking of it like a job and started thinking of it like a wealth-building machine, we realized several things. The difference between the money earned from a job you own and the wealth created from a wealth-building machine is an “X factor” that changes everything and fuels your freedom and the lifestyle you want to live. •
place in our service business and empowered them to make a lot of the decisions. And here’s another example: We built systems and processes to automate a lot of our team’s work so that they could work without our constant guidance. The end result? We were able to step back from the company, and in the last three-to- four years that we owned the company, we didn’t even have offices there. That gave us the freedom to do what we wanted, to spend more time with our families, and to grow CEOWarrior. If your business is wearing you down, that’s perfectly normal. But the reason is because you’re thinking of it like a job — just a job at a company that you happen to own. Start thinking about your business as a wealth- building machine. Every single day you should ask yourself, “What can I do to make this company more successful on its own, without my constant attention?” If you want a great place to start, go read (or re-read) my book, “The Secrets of Business Mastery.” Follow the exercises throughout the book with this wealth-building concept in mind, and by the end of the book, you will have a powerful list of strategies to turn your business from an exhausting job into an inspiring wealth-building machine.
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If we could make it run on its own, we wouldn’t need to be there in order to control it.
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We could build more wealth-building machines that ran on their own.
Once you change your mindset to realize that your company is not a job but a wealth- building machine, you can start building it differently. For example, we put leaders in
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