Profiting from Abundance | Warrior Wealth | Ep004
In This Week's Episode....PRODUCTION
Golden Nugget #1: Donating Pinky Toes and The Mindset Angle of Money
- Your business is a mirror of the power of the person that you allow yourself to be, and the way in which create profit comes down to the mindset that we have about money, which begins with how we were raised.
- While drinking with my college buddies, we were talking about donating one's pinky toe to science for $25K, and I said, "Yes I would" because of my little to no education about money
QUESTION: What was the upbringing that you had in regards to money?
Golden Nugget #2: Uncomfortable Having More Money
- When it came to investing, I learned that once I began making money after reading the book Rich Dad, Poor Dad I found that I didn't know how to handle money once I've made it, even though I was at one point the largest trainer of Robert Kiyosaki's CashFlow events in the Western United States.
- After a poor investment of $600K, it wasn't until my recovery years after losing even larger amounts of money, I learned an invaluable lesson of build, loss and rebuild.
QUESTION: What lessons have you learned from LOSING money?
Golden Nugget #3: Money is a Belief System
- We all approach money from the belief system of abundance or scarcity, but once we see it as a game, we'll be able to solve more problems for more people more frequently and remain in a state of abundance.
- The ironic thing is that some are extremely uncomfortable with having large amounts of cash sitting inside of their bank accounts, choosing to rather live in scarcity because it was a familiar place to be.
QUESTION: Do you look at money from a mindset of scarcity or abundance? Are you OK with large amounts of cash sitting in your bank accounts?
Golden Nugget #4: The King's Cash
- There are different kinds of profit:
- 1) The Kingdom Cash: Gross Revenue within Business
- 2) The King's Cash: Take Home Money
- Selling more does not equal more money and profit. There's a fundamental flaw in which businessmen believe that they keep what's left over after paying all of the other expenses. We look at money differently that's sitting inside of our kingdom and the money sitting in our personal King's account.
QUESTION: Do you pay yourself first or last, seeing yourself as your #1 Asset? Why?
THE KING EATS FIRST!
Golden Nugget #5: I Am Valuable
- In order for ridiculous amounts of return to occur within my life, I have learned to determine what amount I'm going to take out each month for myself FIRST and put it in what we call The Vault, which we'll talk about in the next episode.
- You are a BUSINESSMAN, and the world revolves around your courage, commitment and courage to take the risk and opportunities to get paid.
QUESTION: What is ONE THING that you are going to do today to apply 'the king eats first' principle into your life?
When in a state of abundance, we are able to solve more problems for more people more frequently.
Quote of the Week:
"We were trained and influenced about the patterns we see the topic of money based on how we were raised and what kind of community we grew up in. Money is an idea and a concept that ultimately pushes us to a place of power to produce in the first place. And yet, if you operate from a place of scarcity and lack, it erodes the value of yourself, trusting others instead."
"Abundance becomes this possibility that money is more of an idea than it is as an actual thing. It's a Game of numbers and a belief system that creates value for other people, solving problems, consuming more profits for more people more frequently. Solving more problems for more people more frequently will make scarcity no exist in your life."