A Business Superhero’s Guide To Becoming Friends With Money
Last week, we discussed the 7 steps to becoming a business superhero. This week, we’re going to talk about money. If you want to be a business superhero, you’re going to have to make friends with it.
However, I also understand that we’ve been raised in a culture filled with lies and misconceptions surrounding money. It is those lies and misconceptions about money that are secretly holding you back from getting more of it. So, let’s start by re-examining what money is so that we can get down to how to make friends with it.
Myth #1: Money Is Not Freedom.
People without money are often far more free than those with it. Many people with money live miserable lives enslaved to the things they hate out of fear of who they would be if they didn’t have the money they have now. Many business owners hate the business they are in but feel chained to it because they don’t know what else to do to make money. So, we can eliminate that myth.
Myth #2: Money Is Not Time.
You may be under this impression because you currently trade your time for money, but time existed long before money ever did. Furthermore, there are ways of making money without investing a substantial amount of time in it. While money can be used to buy tools that will save you time or allow you to free up more of your time, it cannot be used to restore lost time.
Myth #3: Money Is Not Evil.
Money can be used to do evil, just as any tool can be put to use for evil purposes, but that is not its purpose. It is not designed to be evil. The proper quote is that the “love of money” is the root of all evil, from 1 Timothy 6: 10, because it leads to all kinds of evils and wandering from the faith in its pursuit. The truth is this: The unhealthy desire for anything can lead to all kinds of evils and ultimately a loss of faith.
Truth #1: Money Is a Tool
Money is a tool. It is how you use your money that determines the outcome. Money can either serve you well, if you understand what it is and how to use it, or it can serve you poorly if you don’t. It can be used to help you or it can be used to harm you. You must learn the proper use of money if you want it to benefit you and the people you love.
Truth #2: Money Is A Responsibility
Money represents responsibility. It is your job, when you have it, to give it a purpose and to assign it tasks to fulfill that will benefit you and the people you love. Money, much like people, which does not have a purpose will wander off or get into mischief. It won’t accomplish anything and it won’t benefit anyone. When you have money, you have a responsibility to give it a purpose and put it to work benefitting as many people as possible.
Truth #3: Money Is A Metric For The Amount of Trust You’ve Earned That You Can Deliver A Desired Result AND A Measure Of How Committed Your Prospect Is To Achieving That Result
Money is a metric, or a way of measuring, for the amount of trust you’ve earned that you can deliver a desired result and the level of commitment your prospect has to achieving that result. That is all it really is. If you want more money, know what results you can deliver with the work that you do, set yourself a goal of becoming THE most trustworthy person in terms of delivering on those results, and then figure out who is just about literally dying to get those results. When you can do that, you will not have to pursue money. It will pursue you.
Let me give you an example. You and I do not know one another. So, if I ask you for $100 and promise to deliver $100,000 to you in two weeks, you will not be likely to whip out your credit card or turn over your cash, even though the promised return on the investment – the results – are incredible.
You do not trust me to deliver the desired results. In fact, it would take me a lot of work – a lot of evidence – before I had earned enough of your trust to be willing to part with that money. If I lowered the price to $10, you would be even LESS likely to invest your money with me as you would become even more convinced that I wasn’t telling the truth. After all, it would seem incredible that I would be willing to do so much for you for so little.
However, if we were well known to each other and I developed a reputation for delivering $100,000 in just two weeks, not only would you eagerly part with that $100, you would give me 100 more of those $100 bills in order to get the results. I wouldn’t have to chase the money. The money would come looking for me.
Here’s another example: Let’s say that I create art that leaves people feeling filled with hope whenever they view it. Not everyone is going to want that art work. Why? Some people are already feeling very hopeful. Their cup is full, they don’t need to spend money to get what they want. They might view your artwork for a few moments and admire it, but they aren’t going to buy it. Their need for hope is not urgent.
Now, take someone who is holding on to hope by very thin threads. Maybe they have just lost a family member or a job. Maybe they have just been depressed for so long that they’ve forgotten there was ever a time when they weren’t and they are tired of hurting. They are seriously considering taking their own life.
If they find my artwork and it fills THEM with hope – you can better believe they are going to whip out the wallet and buy it. They will want to keep that hope front and center, to remind themselves of a reason to continue fighting for another day.
Truth #4: If You Want More Money, Sow More Money Seeds
If a farmer wants to increase his crop of wheat, he knows he needs to plant more wheat seeds. Planting grape, barley, corn, or any other kind of seed won’t do it. He’ll only get more of what he wants if he plants more of that kind of seed.
If you’re wondering how this applies to money, allow me to explain. Money is a metric of TRUST. Trust comes from RELATIONSHIPS. The seed of money, therefore, is relationships. If you want to earn more money, you need to plant more money seeds by forming more relationships. The more people that know who you are, know what you do, and trust you to deliver the desired results, the more money will flow your way.
Truth #5: It Is Not Greedy To Want More Money
If you were raised with the mindset that wanting more money is greedy, please pay attention. Wanting more money is not greedy. In fact, if money is just a metric for how much people trust you to deliver a desired result, you should want to become the single most trustworthy person on the planet in terms of delivering that result. There’s nothing greedy about wanting to become more trustworthy or with delivering more and greater results for people.
However, if you are sacrificing your relationships to get money, you are doing it wrong. Sacrificing relationships to get money is a lot like eating seeds rather than sowing them. You will end up one day with barren fields and a broken heart. Every relationship in your life has value. The more people you know and who know you and know what you do, the more people you can reach.
Making Friends With Money
When I talk about making friends with money, what I mean is that you have to create an environment where money is respected, welcomed, valued, and appreciated. You can’t blame money for your problems by saying things like, “If I had more money, then I could do such and such” or “If I had more money, I wouldn’t feel like I do right now.”
Money is not at fault for your problems. Blaming it will not create the room in your life for more of it to appear. Blame blinds you to the true causes of a problem and, ultimately, to what you can do to change things.
Money needs to be welcomed, too. If you’re ashamed or embarrassed about money, it’s not going to feel welcome. It’s not going to stick around where it isn’t welcomed and wanted. You’ll subconsciously find ways to get rid of it if you’re ashamed or embarrassed about having it.
Money needs to be valued. If you don’t value and what it can do, you will waste it on things that do no good for you or the people you love. You will ignore it, neglect it, mistreat and abuse it. If you truly value money, you will give it a purpose and send it back out into the world to work for you. If you value it, it will never come back to you empty.
Money must be appreciated. Every time you receive money from someone, they are complimenting you. They are showing their trust in you. The more of it you have, the more you have done to earn that trust. Appreciate that trust for what it is and don’t abuse it, misuse it, or ignore it. Instead, appreciate it for what it is and do your best to reciprocate by working to deliver mind blowing results anytime someone turns over their money to you.
Next Week: A Business Superhero’s Guide to Branding, Marketing, and Sales
Now that we have straightened out our relationship with money, it’s time to get our minds right about the three core elements of a successful business: branding, marketing, and sales. Many businesses fail before they even get started because they either don’t properly understand these things, they don’t use them properly, or they put them in the wrong order. We don’t want that to happen to you, so be sure to come back next week and read up on the strategies that will allow you to keep saving the day.