Impact or money? Can you have both? 

If so, how do you balance the two? 

Well, I had an amazing conversation with Dean Graziosi a while back, and we covered so many epic topics around parenting, business, and life in general.

But after the interview was over and done, one of my biggest takeaways was that Dean had figured out a way to not only make an impact with his life, but make money doing it.

And he wanted to tell everyone how they could too.

Incredible!

So I encourage you to listen or watch the interview on Youtube if you haven’t yet, but for the next few minutes, I simply wanted to share my thoughts on the lessons learned from my conversation with Dean.

Believe me- it’s worth the read!

Impact or Money?

Near the end of the interview, Dean mentioned that at nearly every event he speaks at he asks his audience the same question.

At the end of a great life, if you only had one of two options- you could make a great deal of money or a great deal of impact- who would choose money?

No one ever raises their hand.

He then asks the follow up question- who would choose impact? 

Now every hand is raised. 

And of course, he always ends this introduction with- what if you could do both?

The crowds go crazy.

Reality is who wouldn’t want to leave this earth having not only made a positive impact, but making money doing it? 

Dean  can ask these questions at nearly every event he speaks at because his life has been a living testimony to this fact.

You can balance the ability to make an impact and make money!

It won’t necessarily be easy, but with this understanding that it is possible, let’s take a look at several other principles Dean mentioned throughout his life that could help us all.

Our Greatest Enemy: Untapped Potential

Dale Carnegie, renowned author and speaker, once said, “If you are not in the process of becoming the person you want to be, you are automatically engaged in becoming the person you don’t want to be.” 

Powerful thought.

In our interview, Dean talked about his background.

He spoke candidly about growing up with his mom in a trailer park. She worked three jobs and brought home about $90 a week. 

Even at a young age, Dean was independent and knew he wanted to do his own thing. 

Yes, your circumstances and your background can affect your mindset. But here’s the kicker.

Even when Dean was in his early 20s and had a successful business, he knew he was made for more.

At the end of the day, who you become and your success does not depend on whether or not your past was rough or privileged. 

It comes from a mindset that you possess and allow to fuel the fire to become who you want to be.

When we come to the end of our life, we won’t see impact or money if we do not take advantage of every opportunity to tap into our potential and work to see it become a reality.

Our Greatest Asset: An Underdog Mindset

Have you ever been in one of those awkward moments when you are surrounded by others, no one is talking, and all of a sudden your stomach makes the loudest growl? 

Your body is hungry, and now that you’ve physically heard it tell you so, it’s about all you can think about.

That hunger will consume you until you can find a way to appease the beast. 

When we find ourselves in life at a disadvantage- either because of our background or someone simply does not believe we are capable of something- that can be our greatest advantage!

Dean spoke of his book, The Underdog Advantage, and how early on in his life he knew that he wanted more and allowed that hunger to push him to succeed.

It set him apart from the other young people in his similar situation. 

Sure our background and our circumstances can be a path we are set on, but our mindset is the GPS.

If we want to see our life make an impact, we must learn how to change our mindset! 

“Winners practice- Winners practice when no one is watching. Winners win when no one is watching.”

And I love that! You win in life when your mindset is to put in the hard work when no one seems to care or watch or cheer you on.

Overcome the enemy of untapped potential by utilizing the power of the underdog mindset!

Our Greatest Error: An Knowledgeable Practice

We’ve all heard the phrase, “Practice makes perfect”, but a valid point that Dean brought up was that hard work had nothing to do with success.

Now before you say, ok, Travis, that can’t possibly be. Hear me out!

Dean explained how even though both of his parents worked really hard, they still had not seen the success he wanted for his life.

Yes, success requires hard work, but it requires hard work in the right way. 

That second part is vital. 

See, he explained that if you want to become a better golfer, you should practice your golf swing. 

But if your stance, the way you hold the club, and the way you swing your hips is all wrong, you are not going to become a better golfer despite all the practice!

So how do we take our potential and mindset and make sure we apply it correctly?

Glad you asked! Read on for Dean’s thoughts.

Our Greatest Ally: An Understanding Mentor

This last part of the conversation was where the combination of impact and money came into place.

If you want to build a life that has impact while creating a stream of revenue to provide for yourself and your family, you have to find a mentor. 

Now the dictionary’s definition of mentor is simply an “experienced and trusted advisor.”

This can come in all shapes and sizes so let’s break it down with several quotes from my conversation with Dean.

1- “We all have habits, no matter if they’re good, bad or otherwise, right.  And I realized that the habits of these other guys that were doing well, and I had this one, dear friend, Mark Miller, really successful artist and entrepreneur, and he just had completely different habits.”

Look at what other successful people in your field or industry are doing. 

Remember that bad golf swing? If you want to practice the right golf swing, you find a successful golfer, and look at what they do. 

Implement their strategies and learn from their mistakes and successes. 

Dean stressed heavily that mentorship is key in finding the balance between impact and money.

Whether there are habits to form or knowledge to attain, mentors are crucial to taking your potential to the next level.

We do not have to do everything alone! Sure, the hard work has to come from you, but if you can find someone who has done it before, it will help you know your hard work is heading in the right direction!

2- “There was a shift where I knew every time they would say something was wrong, I knew I must’ve been doing something right.”

There will be opposition. That is a fact.

Especially, if you are branching out of what is normal or comfortable.

Dean explained how his family even staged an intervention like meeting because they thought what he was doing was wrong.

But Dean did not allow this opposition to discourage him. 

One of my favorite pieces of advice came from a fellow guest on my show, Chris Voss, when he said to only take advice from those you would trade places with.

The opposition may come from all different angles, but stick to it and keep moving forward!

3- “The best momentum for success is understanding when you have little wins. And, and that’s something I really want you to focus on –  think of positive reinforcement.”

We reward our puppies with treats and belly rubs when they learn to sit or go outside to use the bathroom, but we sometimes fail to give ourselves enough credit when we have the small victories in our journey!

Celebrate any and all successes you have! 

You have earned it. Seriously.

No matter how small it may seem to you- a win is a win is a win!

When you allow yourself to celebrate the little wins, it fuels the fire to see the next victory…and the next!

When you complete a goal, allow yourself that “belly rub” so to speak. 

You’ll come out wagging your tail and ready for more!

4- “We have both voices. The majority of the time who you become is as simple as that voice that is a little louder. So just know you have to fuel the voice of empowerment. And if you want to move the needle and take risks, you take educated risks by getting self-education by gaining specialized knowledge.”

Read. Invest in self-education. Focus on self-improvement. Learn a skill. 

Take what you know and share it with others.

That is how you balance impact and money. 

Yes, it is simple. Dean even mentioned the simplicity of it all.

But the missing factor that many never find is passion. Dean mentioned having the voice of doubt in his mind even now as a successful middle-aged man.

But he fuels his voice of empowerment instead because he is passionate about the topic of self-education.

Find a way to take your knowledge and share it with the world that not only brings value to them, but builds a revenue stream for you.

When done in the right way with the right passion, you will reap the benefits.

Conclusion

When it comes to life and business, have you fallen prey to the enemy of untapped potential?

Have you implemented the asset of an underdog mindset?

Is your hard work being done and practiced in the right way? And how have you applied mentorship in your life?

Let me know in the comments below, and check out the Youtube interview here if you haven’t already.

Here’s to leaving every relationship better than you found it! See you next week!