When it comes to money, “relationship” may not be one of the first words that come to mind. We may think of words like bills, shopping, saving, or even investment. However, if we think deeply, our relationship with money contributes to the word or phrase we come up with. It may reveal if we have a money mindset.
What is a money mindset?
A money mindset refers to an individual’s attitude towards their finances. An entrepreneur’s money mindset will influence how they assess potential investment opportunities and make financial decisions, thereby growing their income. Lourissa Setu, a New Zealand-based 6-figure affiliate marketer, mentor, and coach, believes that a money mindset can help entrepreneurs grow their revenue.
Though she believes that each entrepreneur can grow income depending on where they are at in the process, she encourages them to develop a healthy relationship with their business and, by extension, money. “Their thoughts play a massive part, and their relationship with it plays a massive part,” she states.
Be in a Relationship with Your Business
To grow a business to 6-figures, hard work is imperative. There is a need for dedication and determination, but have we ever really thought about the power of our thoughts and genuinely telling ourselves that our 6-figure dreams are possible? Do we develop a relationship with our business and our money? Lourissa encourages entrepreneurs to “think of your business as a relationship with your partner. It has so much to give to you. How much intentional time are you spending with it, loving it? Does it light you up? How much gratitude do you have for it, and how much are you willing to improve yourself? How much of a priority is your business to you?”
Like a relationship with a human, she points out that, “what you put in is what you will get out, so it’s important to get real with how committed you are to the business and how important it is for you. Think about how much you want it to grow. There has to be an energy exchange. You cannot expect your business to do everything for you if you are not willing to do anything for it to grow. Nourish it and take care of it like a baby.”
Have a Healthy Relationship with Money
This level of commitment will translate in your earnings over time. When we examine successful entrepreneurs, it is evident that they had to change the way they operated their business and the way they viewed money. They demonstrate that they have a money mindset. “Being in a relationship with your business means you are also in a relationship with money. So how do you speak about money? Do you circulate it in alignment with your values? Are you grateful for it, or do you blame money? How you treat it matters.”
When you have a healthy relationship with money, then growth is possible. These are fundamental thoughts to consider for any entrepreneur who is looking to grow a 6-figure income. As Lourissa concludes, “you cannot expect to earn $30,000 and more per month thinking you can put in the bare minimum to get that. It’s like a relationship; if someone were putting in the bare minimum, you wouldn’t be keen to date them.”
To develop a money mindset, entrepreneurs need to take the time to evaluate their existing attitudes and think more positively. They do well to analyze their current money mindset and work at developing positive money management habits.