The Only Way How to Make Money so the Money will Make You
What Is Your Mindset On Money?
Based on the common questions people ask me when reviewing the business strategies and the investment strategies on this website, a major block to your success may be your mindset. For some reason, most people do not apply a business mindset to their personal business. They apply a consumers mindset.
For many people, the following are the first two questions they ask when approaching a business opportunity:
- Is this a scam? I do not want to be stung by a scam.
- Is this going to cost me anything? I only want to get involved if it costs nothing
Are these questions some of the first things that pop into your mind when considering |
doing something extra for yourself? If they are, you are approaching your ideas with a "consumers" mindset. You need to shift your perception so you approach them with a "business" mindset. Let me explain.
If you were going to open a restaurant or cafe, you would go though a process of analysing your area, the menu you wanted to bring to this area, work out how much you think you could make selling your menu to diners and then decide whether or not to continue. If you decide to continue, you would probably borrow a third of a million dollars to lease your equipment and fitout the restaurant, and then start selling.
The first thing your business would need to cover would be your lease payments and wages to staff. If anything was left after this, you'd pay yourself a wage. If there was anything left after this you make a profit.
Before you decided to open your doors, you would not ask yourself "I hope this isn't a scam" or "I'll only open this restaurant if I don't have to spend any money". Rather you'd bring your business mindset and call the loans, lease payments and wages your business risk. When your revenue exceeds your expenses, you make a profit. This becomes the reward you earn for taking this risk and succeeding.
Similarly, if you want to start a law practice, you would spend 5 years of your life and about $100,000 studying before you even go through the process of setting up shop. That is 5 years not being paid before you start your analysis on whether the shop would be profitable or not. Yet you would not question whether this experience is a scam. This is because your perception of these activities is taken with a business mindset.
If you have this same mindset when you approach an internet business or an investment strategy, you will never be scammed. Specific ideas and system trials may not necessarily work, but this does not mean you were scammed. This means a business risk did not pay off. And here is the kicker. If you approach these ideas with a business mindset and they don't work, you will see them as a learning experience. So the cost of the failed risk then becomes an education expense.
In bringing your business mindset to these opportunities, you should do similar analysis to the process as you would if you were opening up a restaurant. Work out what the risk and potential reward are. Make sure you do not risk anymore than you analyzed unless your idea is starting to look promising. If the risk fails and you lose your time and money, what did you learn from the experience? If things are starting to work, optimise what is working and rationalise your spend where its not working. Treat these ideas as if they were a business, because they are.
The real beauty of all the business strategies on our website is you do not have to risk much to get your ideas started. An internet business, using our strategy at Internet Based Businesses, can be launched for less than $500. This is a ridiculously small amount compared to the cost of "setting up shop" on the street. Similarly, you can try our freelance work providers for less than $5. The risk here is negligible, but if you approach it with a consumers mindset, you'll just be spending money rather than starting a business.
So what is a scam then. A scam is a process you may get caught up in if you are not adding value to anyone or anything. Remember, this is the only way a business will become profitable, by adding real value to clients. So if someone offers you "easy money" that you don't have to earn, it is probably a scam. If you give them money to help the process along, you are probably being stung. And if you don't learn and keep giving them money, you are being the fool in the saying:
"A fool and his money are soon parted"
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