Developing Your Abundance Mindset: Introduction + Chapter 1 of Master Your Mindset

[00:00:00] Welcome, you're listening to The GrowOrtho Podcast presented by HIP. This podcast is dedicated

[00:00:07] to orthodontist who want to stand strong in their market and be leaders in their community.

[00:00:13] Now, onto today's show. Hey it's Luke at HIP and if you've been listening to The GrowOrtho

[00:00:19] Podcast maybe for weeks, months or in some cases years, you know that we typically interview

[00:00:25] an industry expert whether it be someone working in the office or a consultant or just a

[00:00:33] strategic partner for orthodontist. Well, we're going to change things up just a bit and

[00:00:38] this year we've actually released four books and so we're going to release every audiobook

[00:00:44] basically a chapter for each episode. Listen, enjoy and let us know what you find valuable

[00:00:51] and implement and what works well in your office. Thanks so much for supporting HIP and we

[00:00:56] hope you enjoy all these episodes on the Practice Growth Series. Introduction.

[00:01:05] From a very early age, I had this sense of knowing that I was here for a reason. I'm not entirely

[00:01:10] sure where it came from but I have always felt that I was put on earth to do something meaningful.

[00:01:16] For this day I still ask God daily to guide my steps so that I continue to uncover my purpose.

[00:01:21] I am very grateful for all the good fortune in my life and I make sure to give thanks daily

[00:01:27] for my many blessings, both fully manifested and those which were in process. My life is

[00:01:33] a work in progress and I am diligent about ensuring that I am consciously guiding the

[00:01:37] way it unfolds. Throughout this book you will hear mention of my morning formula, a process

[00:01:44] that I use daily to keep my awareness focused on my goals and the principles that are most

[00:01:49] important to me. With all the distractions today, it is very easy to get off track and forget

[00:01:55] why you're working so hard. Every successful person that I have studied has some version

[00:02:00] of a morning formula. This book contains everything you need to build your own process for

[00:02:06] staying on course with your goals and it is my hope that by the end of it you will construct

[00:02:10] your own morning formula. In this fourth and final book of the orthodontic practice

[00:02:16] growth series we will cover the most important aspect of building a successful orthodontic

[00:02:21] practice mindset. A positive mindset is a quality that is developed and honed. It does

[00:02:28] not happen by accident, we are not born with a negative mindset. However our upbringing,

[00:02:34] schooling and culture pretty much predisposes us to becoming negative, feeling like we're

[00:02:40] not enough and focused on what we don't have. The most successful orthodontists in the

[00:02:45] industry have overcome these forces to develop an abundance mindset and you can too.

[00:02:51] In the next chapter we'll dig into the concept of abundance. At hip, we find that orthodontists

[00:02:57] with an abundance mindset are easy to work with because when they do what we say they

[00:03:02] get outstanding results. We call them easy growers because they are a pleasure to work

[00:03:07] with. Their practices grow quickly and we get to showcase how well our proven systems

[00:03:11] work. There are a number of qualities that easy growers possess and we will cover them

[00:03:17] in the chapters that follow. If you read this book carefully and apply what you learn,

[00:03:22] you will soon find yourself joining their ranks.

[00:03:27] Chapter 1. Developing your abundance mindset. The road to wealth lies in augmenting our

[00:03:34] means or diminishing our wants. Benjamin Franklin.

[00:03:41] Once upon a time there was a farmer who lived in a small village. He had a large field of

[00:03:46] wheat and every year he worked hard to cultivate and harvest it. One day while he was out

[00:03:52] in the field he met a traveler who asked him why he worked so hard when he had so much

[00:03:56] wheat. The farmer replied, I work hard so that I can provide for my family and share

[00:04:01] my abundance with others. The more wheat I have, the more I can give to those in need.

[00:04:07] The traveler was impressed by the farmer's generosity and asked him how he had acquired

[00:04:11] such abundance. The farmer smiled and said, by working hard and being grateful for what

[00:04:17] I have. I believe that abundance comes to those who are willing to work for it and shared

[00:04:22] with others. And so the farmer continued to work hard and shared his abundance with those

[00:04:28] knowing that the more he gave, the more he would receive in return. Anonymous.

[00:04:35] This is a simple and timeless tale that has been passed down through generations to illustrate

[00:04:38] the concept of abundance and the importance of hard work, gratitude and generosity.

[00:04:44] The farmer's obvious outward success was based on his inner belief in abundance.

[00:04:49] His mindset guided his actions and as a result created the success he desired.

[00:04:55] His goal to generate enough wheat to help as many people as possible motivated him to work hard.

[00:05:01] The reward he received was not the abundance of wheat, rather his ability to provide for those

[00:05:06] in need because of it. While times have changed dramatically, the concept and lesson remains the same.

[00:05:13] There are many more ways to achieve success today and opportunities to make a lot of money abound.

[00:05:19] Our culture has become obsessed with equating success to making money.

[00:05:23] The concept of abundance gets lost because everyone is so focused on creating a big pile of

[00:05:29] cash for themselves, instead of the joy and happiness that making their community a better place

[00:05:33] would bring. Whether you're growing wheat, creating beautiful smiles or innovating new text solutions,

[00:05:39] the concept of abundance can still take your life and business to new heights.

[00:05:44] How different would the world be if people focused on creating abundance around them rather than

[00:05:49] only being concerned with their own wants and needs? The shift in mindset from,

[00:05:54] how can I make enough money to take care of myself to? How can I make enough money to help as

[00:05:58] many people in my community as possible transform the energy and results? Success can be defined in

[00:06:05] many ways and will vary depending on our goals, values and circumstances. There are multitudes

[00:06:10] of ways to define your own success beyond the accumulation of material wealth however.

[00:06:15] You don't get very far in life today if you don't consider money in the formula.

[00:06:20] While you are welcome to take some time now to write about all the things that you want in your

[00:06:24] life, the principles of this book go far beyond manifesting all your dreams. The great thing about

[00:06:30] the age-old success principles that you will find here is that their application tends to yield all

[00:06:35] your wants and desires as a byproduct. If you have read the previous books in our orthodontic

[00:06:41] practice growth series, you'll have seen our patient acquisition and retention framework,

[00:06:46] Perf. And we've shared all our strategies for growing multiple seven and eight figure practices.

[00:06:52] Reading about the strategies and processes to improve the team, culture and operations in your

[00:06:56] practice is very different than applying them in real life. Where there was desire, aspiration and

[00:07:02] ambition, there was also competition, fear and anxiety. And for most of us, the latter usually

[00:07:10] takes over our minds, preventing us from accomplishing the dreams and goals we have set for ourselves.

[00:07:16] When we see a doctor enjoying an exceptional level of success, we judge them and make up stories

[00:07:21] about why they must be unethical or uncaring. You may think that they are only in it for the money

[00:07:27] and imagine that our superior moral standards make it impossible to enjoy that level of prosperity.

[00:07:34] This negative self-talk is so common in our society that we think it's normal. It's called

[00:07:39] the scarcity mindset. And I often encounter it in this industry. It becomes evident within

[00:07:45] the first few minutes of speaking with some orthodontists. The scarcity mindset focuses on the belief

[00:07:51] that there are not enough resources to go around. If the orthodontist down the street is getting all

[00:07:56] the new patients, then there will be none left for me. Scarcity implies a lack or shortage of

[00:08:01] something which leads to a sense of urgency or competition as people fight for these limited

[00:08:06] resources or opportunities. The scarcity mindset leads to feelings of fear, anxiety or stress

[00:08:12] and causes people to focus inward on their own needs or desires at the expense of others.

[00:08:17] It keeps us in defense mode, trying to protect our turf and hold on to what we have.

[00:08:23] Sadly this is a recipe for staying small, struggling and basically not enjoying the ride.

[00:08:30] At hip, we've encountered all too many orthodontists who think my competition is out to get me

[00:08:35] and if they find out what I'm doing, they will take all my patients. They worry about what will

[00:08:40] happen if another practice in town hires us and they start getting similar results. They think that

[00:08:46] there are not enough patients for everyone which could not be further from the truth.

[00:08:52] Dr. Ben Fishbine, founder of Fishbine Orthodontics has made it into all four of my books because he

[00:08:58] exemplifies what is possible when you combine proven systems for growth with an abundance mindset.

[00:09:04] When he first started out, he did not have an abundance mindset. He recently shared the

[00:09:09] scarcity thought process that he had early in practice. Maybe you'll recognize some of it in your own

[00:09:15] thinking. In the past, if I saw someone with braces who wasn't my patient, I'd get pissed off.

[00:09:22] It honestly felt like competition was taking my patients from me. Literal thoughts would go

[00:09:27] in my head like, my dog goes to school with her. How could she go to another orthodontist?

[00:09:34] Why do we think this way? It's not like only a small group of people want straight teeth.

[00:09:39] There are 95 million people in the US who could get treatment. Who were really in competition with

[00:09:47] are the places those people are spending money and place of orthodontic treatment.

[00:09:52] We should focus less on our competition and more on reaching out to those 95 million people.

[00:09:57] Obviously, if we filter down to our areas, that comes down to a few thousand people. But that's

[00:10:03] still a lot. We just need to get out of our way, put our ego on poor mindset aside and grow.

[00:10:12] Twitch failure on another practice was just limit what's possible for you and your practice.

[00:10:18] In 99% of markets, a single practice can't service 10% of the potential patient base.

[00:10:25] Shifting from a scarcity mindset to an abundance mindset involves wanting what is best for others

[00:10:30] and moving from a perspective of competition to collaboration with other orthodontists.

[00:10:35] Thinking about what you can do for the good of all the orthodontists in your community will only

[00:10:41] bring you more success. Developing an abundance mindset takes work. You have to decondition

[00:10:47] all the scarcity thinking that has been programmed into you over the years.

[00:10:51] When you get to the point where you look around at all these people, you don't know and say to yourself,

[00:10:56] look at all these new patients. You know it's working. Shifting to a more than enough mindset

[00:11:02] is empowering and causes opportunities that you can't see with a scarcity mindset to almost jump out

[00:11:07] at you. An abundance mindset can be cultivated through gratitude, mindfulness, and positive thinking.

[00:11:15] This must be a daily practice because it's too easy to be overwhelmed by all the

[00:11:19] griping and complaining around us daily. Your environment, social connections,

[00:11:25] and personal experiences have a major impact on your mindset so it is critical to control

[00:11:31] as many of these external factors as possible to stay in a positive frame of mind.

[00:11:37] I have built these practices into my morning formula and encourage you to do the same.

[00:11:42] I provide details on creating a morning formula as well as my current one as an example in chapter 2.

[00:11:49] Let's talk about money. While abundance does not only involve creating monetary wealth,

[00:11:56] it isn't necessary to have a clear understanding of what money is.

[00:12:00] Money is the harvest of production that can be used to obtain the service and harvest of others.

[00:12:06] It is the only reward that is entirely negotiable and can be used by everyone.

[00:12:10] While it's true that having money isn't the sole reason people are happy,

[00:12:14] it sure can buy more happiness than poverty can.

[00:12:18] Money is a warm home, a healthy family, good education, trips, and helping the less fortunate.

[00:12:25] All the other factors that constitute success become much easier to accomplish with the financial

[00:12:29] means to bring them about when you have abundant money. The beauty is that as an orthodontist,

[00:12:35] your practice is one of the best vehicles for producing wealth.

[00:12:39] The key is to think like a business owner with an abundance mindset.

[00:12:43] You have invested much time, energy, and money into becoming an orthodontist.

[00:12:49] You've sacrificed a lot so it's safe to assume you may be at a point where you would finally

[00:12:55] like to reap the rewards of your hard work. Maybe 20 years ago was possible to just open up shop

[00:13:00] as an orthodontist and build a $3 million a year practice. Today, we live in a very different world

[00:13:07] that is changing by the minute. New solutions like Smile Direct Club are popping up as the man

[00:13:13] for orthodontic services grows, making building a thriving practice more challenging.

[00:13:18] Many orthodontists are struggling to even hit the national average of $1.2 million in production.

[00:13:25] Considering these factors is crucial if you want your practice to succeed,

[00:13:29] an orthodontist must generate a substantial amount of money simply to cover the costs of getting

[00:13:34] into and being in practice. Student loan debt alone is upwards of $800,000 and opening a practice

[00:13:41] can run anywhere from low six figures to a million plus depending on the types of modalities

[00:13:46] and equipment you want. Fortunately, it's not all doom and gloom. There are strategies to stand out

[00:13:52] from the competition, market your practice and build a solid foundation of happy patients.

[00:13:59] It just takes thinking like a business person rather than a highly specialized doctor that deserves

[00:14:05] to earn high income. In books 1, 2, and 3 we've shown you the strategies you need to implement

[00:14:11] to run your practice like a business. You are fortunate to be in a profession where generating wealth

[00:14:17] is considerably more achievable than in any other field. By following the principles we teach

[00:14:22] practitioners, you will be able to build a highly profitable orthodontic business and use the

[00:14:27] proceeds to fund any number of endeavors. Determining value

[00:14:34] How do we decide how valuable a person service or item is? First, we must consider what value means.

[00:14:42] Value is a concept that refers to the worth or importance that an individual places on something.

[00:14:49] It can be subjective, varies from person to person and can be influenced by a person's beliefs,

[00:14:54] experiences or cultural background. Value can also be objective based on facts that can be

[00:15:01] measured or quantified. The amount of value we perceive influences whether we think something

[00:15:06] is worthy of investment. Why is a diamond more valuable than a lump of coal?

[00:15:12] Well, a diamond was a lump of coal at one time. It just takes very specific conditions to transform

[00:15:18] the coal into a diamond. That's the secret. By altering conditions, something with little value

[00:15:25] can become something of great value. Human beings can vastly increase their value to the world.

[00:15:31] They just need to discover what conditions they can alter to increase their value.

[00:15:36] The formula for creating value. The amount of money we receive will always be in direct ratio

[00:15:43] to the demand for what we do, our ability to do it and the difficulty of replacing us.

[00:15:49] The amount of money we receive for our work is determined by a complex interplay of these

[00:15:54] and other factors. Most people think that by continuously developing and improving our skills

[00:15:59] and abilities, they can increase their value and potentially negotiate for higher pay.

[00:16:04] If you stop thinking that you should get paid what you're worth as an orthodontist and start

[00:16:09] thinking about how to build more value into your product, you'll never have to worry about this.

[00:16:14] Quite frankly, none of your patients think that it is worth paying you more because you graduated in

[00:16:19] the 99th percentile and continue to take courses that know other doctors take. But does building value

[00:16:25] into your product or service mean? According to Dr. Castilla, building value only occurs when you

[00:16:32] know who your customer is. She explains, you need to have clarity about who your customer is,

[00:16:39] not all customers are the same. You can't be everything to everybody. Once you decide who your

[00:16:44] customer is, you need to go out and listen to their voice, not necessarily the voices of vendors or

[00:16:50] the voices of other orthodontists that may have a different target market. Clarity is power.

[00:16:56] This means you have to put yourself into your patient's shoes and consider what they might think

[00:17:03] would be valuable. Imagine a busy mom or dad carrying kids around to school and activities,

[00:17:08] working full time and trying to make ends meet. How much would they value convenience as like fast

[00:17:14] visits, virtual checkups, affordable payment plans, staff that make them feel like gold? Or a

[00:17:21] multitude of other specialty concepts that you determine that your niche demographic want?

[00:17:27] The value we create for others. Let's discuss the value we provide to our patients.

[00:17:34] Is the value solely derived from the braces on their teeth, despite the pain and inconvenience they

[00:17:39] may cause? Or is there added value in ensuring that orthodontic care is convenient and accessible

[00:17:45] to everyone? The true value lies in delivering affordable, convenient and exceptional results that last

[00:17:51] a lifetime. Components that impact orthodontic value. One, affordability. Two, convenience. Three,

[00:18:01] exceptional results. Unfortunately, if the first two value components are not emphasized,

[00:18:08] orthodontic practices risk losing patients by solely focusing on the final result.

[00:18:13] While most orthodontists excel in the third value component, providing excellent work and patient

[00:18:18] care, many also prioritize charging high fees and down payments, fearing that they may devalue their

[00:18:24] service or be seen as cheap. This mindset becomes a barrier for patients who want to start but

[00:18:29] cannot afford the steep upfront costs. A minor shift in mindset and fee structure can significantly

[00:18:36] increase the conversion rate in the treatment coordinator room by incorporating all three value

[00:18:41] components. You can surpass the average $1.2 million practice and become unstoppable.

[00:18:49] When preparedness meets opportunity, opportunities are abundant and are constantly presenting

[00:18:55] themselves. The question is whether you are able to see and act on them. When you have a

[00:19:01] scare-say mindset, you are too focused on the problems you see and how they are affecting your

[00:19:05] dwindling resources. People with an abundance mindset don't see problems. They see new

[00:19:11] ways to differentiate themselves by creating valuable new solutions. Most orthodontists desire to

[00:19:18] increase their income and assume that their professional loan qualifies them for it. However,

[00:19:23] this mindset is no longer valid. DIYers and dentists also offer in business line and new technology

[00:19:30] may emerge anytime. Nowadays you must prepare as an orthodontic business owner to succeed.

[00:19:36] If braces are viewed as a commodity and consumers are price conscious, what can you do to elevate

[00:19:42] the demand for your services and your ability to deliver and make it challenging for others to

[00:19:47] replicate your unique product? Do you want to be the low cost braces provider or the high price

[00:19:53] high end option? You prefer treating adults only. Whatever your vision, you can achieve it by

[00:19:59] positioning yourself correctly. The orthodontic industry is projected to grow from $2 billion to

[00:20:05] over $4 billion in the US alone by 2025. Orthodontists who think innovatively and strategically

[00:20:12] will be poised for unparalleled growth. Those remain stagnant, may face closure or be forced to

[00:20:18] work as associates. Don't let that be your fate. The new reality. New technology is increasingly

[00:20:27] prevalent in our daily lives, revolutionizing how we communicate, access information and make

[00:20:32] purchases. This new reality has transformed to the way we live, work and interact with one another,

[00:20:39] creating new opportunities and challenges for businesses and individuals alike.

[00:20:44] Consumers now have more choices and options than ever before, leading to a shift in how products

[00:20:48] and services are marketed and sold. With vast information and multiple options available at their

[00:20:54] fingertips, consumers are now empowered to shop around, compare prices and make informed purchasing

[00:21:00] decisions. This shift doesn't necessarily imply that you must offer the lowest fees in town,

[00:21:06] low and high fee strategies can't succeed. However, it requires that you are conscious of your

[00:21:12] patience financial means and make it easy for them to pay your fees, often via low down payments

[00:21:18] and to monthly installments. There is a way to position low and high fees, and it's all in how

[00:21:23] you sell it. If you would like to hear Harrison, our amazing senior practice advisor at HIP,

[00:21:29] present an exemplary fee presentation, please visit hip.agency-mineset.

[00:21:38] As a local orthodontic practice owner, you can leverage technology to expand your reach,

[00:21:43] boost revenue and improve efficiency. Consider offering convenient virtual consultations,

[00:21:49] utilizing digital new patient workflows to save time and implementing virtual monitoring,

[00:21:55] produce the need for in-person appointments. Targeted advertising platforms can also help you

[00:22:00] stay top of mind with potential patients, enhancing your chances of attracting new business.

[00:22:06] While technological advancements bring new challenges, they also present exciting opportunities

[00:22:11] for growth and profitability. By embracing these innovations, you can position your practice

[00:22:17] for success in today's digital age. To ensure your success in this new reality,

[00:22:22] you must drop the scarcity mindset of the high-income earner protecting your turf.

[00:22:28] You'll only struggle to earn less and less each year.

[00:22:31] Develop your abundance mindset, think like a business owner seeking new opportunities

[00:22:36] and keep working on your business to be ready to seize them. You will thrive beyond your wildest dreams.

[00:22:44] The complacency trap. If it's so easy to succeed in this new reality, why is everyone doing it?

[00:22:52] The most dangerous factor that lures orthodontists into the rut of average or below-average production

[00:22:57] is that, compared to the general population, a low earning orthodontist is still a high-earner.

[00:23:04] I'm not suggesting you compare your life to someone else's, but be careful of your point of reference.

[00:23:10] You can live very well even compared to most executives. Are you satisfied that you are doing your best?

[00:23:16] The fact that most orthodontists who approach my company do so for help generating more production

[00:23:22] tells me that the answer is likely, no. It's normally stuck in your perspective and unable to see any of the way of doing things.

[00:23:30] It's hard to comprehend when someone tells you there is another way. This is the reason it's all about mindset.

[00:23:37] Again, it comes back to letting go of the limiting belief that, I'm an orthodontist therefore, I already know everything.

[00:23:45] And shifting to the growth and abundance mindset of, I need to learn how to run a business.

[00:23:51] I can get help from people who know how to do this better than I do.

[00:23:55] Spending money correctly will allow me to make even more money.

[00:24:00] My time is best spent seeing patients. There is a more efficient way to do this.

[00:24:06] Just because I've always done things this way does not mean it's right.

[00:24:10] Complicency can hit at any level. I see practice owners who are stuck at $1 million and I've seen others

[00:24:20] stuck at $5 million. To me, a practice owner stuck at $5 million is a sadder because they have already proven

[00:24:27] that they know how to scale. They typically have a decent mindset, a good team and a vision but then

[00:24:33] they give up. Why? Because their needs are primarily met and they want to live and enjoy things.

[00:24:41] There was nothing wrong with that outside of not fulfilling your purpose.

[00:24:46] The bigger purpose of your life. The fact that you're an orthodontist who has ended up as a business

[00:24:52] owner has put a lot of responsibility on your shoulders. You may have opened your office simply

[00:24:57] because you needed a place to practice and did not want to work for someone else.

[00:25:01] When you read about the entrepreneurial myth, E-Mith, chapter 8, you'll see that that is one of

[00:25:07] the worst reasons for going into business. Businesses that thrive are built on a purpose. They have a

[00:25:13] mission, vision and core values that create real impact. The real magic begins when that purpose

[00:25:19] aligns with your life's purpose. It can't be about the money. It has to be about impact.

[00:25:26] Can you impact more people? Change the quality of life in your community. Help people live a better

[00:25:32] life. When you land on something that moves you, your purpose is to do that. You can say

[00:25:38] didn't come targets but never make that your sole purpose. People slow down and take it easy

[00:25:44] when they hit their financial goals. But I want to tell you don't slow down.

[00:25:49] Brooks Martyr. Not harder. Bring in more associates, empower your team and create leaders.

[00:25:54] Don't sacrifice your purpose due to making enough. Our reward will always be in direct proportion

[00:26:01] to our service. Don't like your income? How can you increase your service?

[00:26:06] In this case, how can you help more people? Your service must come out of you, meaning your mind

[00:26:13] abilities and energy. This doesn't mean that you physically have to do everything.

[00:26:18] You will seldom be paid for more than you are doing. You may not be saying this,

[00:26:23] but your actions and motivation could be screaming it. Why bust my ass more when my needs are

[00:26:28] already met? I work three or four days, bring home 500k, take expensive vacations, etc.

[00:26:36] But if you could work these same hours but triple your take home and impact more people,

[00:26:41] the mindset can hinder your progress and prevent you from reaching their full potential.

[00:26:46] As an orthodontist, you can provide significant value to a wide range of people.

[00:26:52] However, simply being an orthodontist isn't enough. It's like having a BMW without any fuel.

[00:26:59] The question to ask yourself is whether you'll be satisfied knowing that you could have accomplished

[00:27:04] more, helped more people, generated more revenue or made a greater impact?

[00:27:12] How much wealth do you want to create?

[00:27:15] Most people think they want more money than they do, and settle for a lot less than they

[00:27:20] could earn if they went about it the right way. They'll say, I want $20, 50 or $100 million.

[00:27:27] But in reality, the only need $10 million to quit working now will move comfortably forever.

[00:27:33] However, if they get stuck in the hamster wheel and don't grow, they will never get to $10 million.

[00:27:39] A great example would be an employee making six figures with all the skills to own a company

[00:27:43] and take home a million plus a year, but they get complacent because their needs are met.

[00:27:49] It is estimated that $80,000 in the United States will meet all your needs, including a car,

[00:27:55] house, food, vacations, and toys. Something turns off in most people when this is reached.

[00:28:03] However, if we live according to our purpose and mission, we don't have to focus so much on the money.

[00:28:08] It will come and be in surplus. The average $1.2 million practice owner probably takes home $400,000

[00:28:16] to $600,000 a year. I have met one doctor who does $1.2 million annually and takes home $900,000.

[00:28:26] Kudos to him for keeping his operation lean and efficient, but he still falls in with the rest

[00:28:30] of the folks who are totally complacent and stop growing. How do you create wealth?

[00:28:38] The process of creating wealth is quite simple. You set a goal for how much wealth you want to build

[00:28:44] and then you create value and exchange it for money. First, decide how much money you want to make.

[00:28:49] Then forget the money and focus on improving yourself when you're practicing until you've grown

[00:28:53] to the level that will fit and earn the income you seek. Once your business is qualified for the amount

[00:28:59] you want to make, you will soon find ourselves earning it. Remember, it's not harder than what

[00:29:05] you're doing now. It's just a matter of shifting your focus and taking consistent action towards your goals.

[00:29:11] Here are the three amounts of money to decide upon. One, the yearly income you would like to earn now.

[00:29:18] Two, the amount of money you want in savings and investments.

[00:29:22] Three, the amount you want in retirement income. One of the biggest mistakes people make is not

[00:29:29] deciding on specific amounts for their goals. However, if you take the time to determine these

[00:29:35] three amounts and keep them close by, you'll already be in the top 5% of achievers. You'll have a clear

[00:29:41] direction for where you want to go and if you're truly committed, plan accordingly and take the right

[00:29:46] steps you will undoubtedly get there. The real challenge isn't achieving your goals, but instead

[00:29:52] not setting them in the first place. You cannot hit a target you don't have, so don't leave your

[00:29:57] success up the chance. To truly understand how to approach money, you must first identify the type

[00:30:03] of person you are. One who limits their wants to match their income or one who creates income

[00:30:09] to meet their wants. It's a personal decision and depends on your values and priorities.

[00:30:15] To determine your ideal approach, consider who you know that is already living the lifestyle you

[00:30:21] aspire to have. Observe their habits and how they use their time. It's not about the job, practice

[00:30:28] or location, but the individual's mindset and actions. Remember the only limits you have

[00:30:34] or the ones you suffer yourself. To achieve your desired financial outcome, the most critical first step

[00:30:40] is to be clear on what you truly want. The key to achieving what you want is to set clear goals

[00:30:46] and focus on them. Any people settle for what life gives them instead of deciding what they want.

[00:30:53] By thinking about your desires, writing them down and reviewing them regularly,

[00:30:57] you create a mental tension between who you are now and who you want to be.

[00:31:02] Again, reviewing this daily in your morning formula will prevent you from getting

[00:31:06] sidetracked by life's distractions. This mental tension fuels your mind to seek ways to

[00:31:12] bridge the gap and create your desired life. In the upcoming chapter, we will discuss boosting

[00:31:18] this process and achieving your goals even faster by tapping into your X-factor.

[00:31:23] This extraordinary, paralyzed dormant in all of us until we seek to access it.

[00:31:28] Keep reading to learn how focusing on your goals can help you stay motivated and make success

[00:31:33] inevitable. My bargain with life for a penny, a life would pay no more. However, I begged at

[00:31:43] evening when I counted my scanty store. Life is a just employer. He gives you what you ask,

[00:31:52] but once you have set the wages, why? You must bear the task. I worked for a memials hire

[00:32:01] only to learn to smade that any wage I had asked of life, life would have willingly paid.

[00:32:10] Jesse B. Rittenhouse. Thanks for listening. If you'd like to learn more about HIP or any of the

[00:32:16] topics in this episode, send an email to hello at hipcreativeink.com that's hello at HIP creative

[00:32:26] I.N.C. dot com or jump over to our website at hip.agency