Have you ever sabotaged your own success?
After working really hard and making more sales than I ever had in the last month of my first year in business, I made almost no money the following month. Why did that happen?
I discovered that something was wrong with my money mindset story. The way you think about money plays a vital role in your business because it can impact your success and in the worst case, lead to self-sabotage.
In this episode, I share how I changed my money mindset story and with it, the limiting belief that kept me from making money. I explain how your beliefs affect your business and how you can change your mindset to prevent it from holding you back and thriving with your business.We all have some kind of limiting beliefs. The key is to uncover them. - Sigrun
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In This Episode of The Sigrun Show:
- How my money mindset affected my revenue
- Identifying my limiting beliefs and money mindset
- Figuring out why I believed that rich people are bad and how it influenced the success of my business
- Wealthy and unhelpful grandparents vs poor and helpful grandparents
- How I changed my money mindset and created new beliefs
How to Change Your Money Mindset
My first year in business ended with three 5-figure months. However, the following month I barely made any sales. The drop in revenue shocked me, but it had a logical reason: I hadn’t follow through with sales. I was self-sabotaging my own success. But why?
It was as if subconsciously, I didn’t want to make more money. When I searched my mind for what was holding me back, a thought popped up: Rich people are bad.
I was surprised that I was thinking this, and I knew there had to be a story somewhere that made me create this belief. Then I had an epiphany: The stories I heard about my grandfather when I was growing up had shaped some serious limiting beliefs in me. Here’s why.
Discovering My Money Mindset Story
When I was a child, I enjoyed visiting my grandparents. They had a huge house, and I thought they were rich. However, when I was eight years old, my grandparents divorced. My grandfather stayed in the big house and suddenly, I wasn’t welcome there anymore. Within a year he was living there with another woman. They never got married, but he called her his wife. Instead of embracing our family, his new wife never showed any interest in us, and even discouraged him from contacting us. It made me feel abandoned. He didn’t show up for celebrations or my graduation, and we drifted apart. I lost my grandfather 33 years before he died.
As I became older, I heard stories about him, how he toured the world with his new wife, how good he was with money – but also how cheap he could be. When my parents were 16, my mother became pregnant. My father asked my grandfather to support them while he would continue his education. He said no. This meant that my parents both had to go to work when they were 16 in order to support themselves, despite my father having parents who could’ve easily supported them.
My parents told me this story many times, and they don’t seem to hold a grudge. I, on the other hand, get upset every time I hear it. When my older brother was born, my parents moved in with my mother’s parents. They only had a one-bedroom flat, but they always took care of us, were generous and kind.
Thinking about this, my mindset story started to become clear. Comparing my grandparents, it was no surprise I developed the belief that rich people are bad.
The problem was that with this belief, I was holding my own success back. It made me feel bad about earning a lot of money.
I knew I couldn’t let this story control my behaviour and limit my mission in life. I felt relieved that I finally identified the story – now it was up to me to change it and create new beliefs.
Instead of holding a grudge, I decided to think fondly of my grandfather. I don’t think he was a bad man – he was good with money but made bad choices. He was probably lonely after the divorce and relieved to find a new wife. When she didn’t want him to have contact with his family he decided to accept it, instead of losing her. Even though I don’t agree with his choice, I can see that to him, it might have seemed the better out of two options.
To lighten up this story, I think of my grandfather as scrooge McDuck. He was initially characterised as a greedy anti-hero, but in later appearances, portrayed as a charitable adventurer and philanthropist. I want to think of my grandfather as someone who discovered too late what he really wanted in life.
My new money mindset story is gradually being created with every step of my own journey. I’m aware of my limiting beliefs – we all have them when it comes to money. The key is to uncover them.
If you want to get over your limiting beliefs, discover your disempowering story and create a new, empowering story.
Do you want to become a better entrepreneur, thrive with your online business and have a bigger impact?
You can download my free guide Six Key Shifts You Should Make for Fierce Success here.