“How do you make money with a podcast?” This is probably the number one question I get asked on the regular.

And it makes sense. If someone is going to take time and put forth the effort of having a show, they want to know how to make it profitable.

However, in the world of business, I believe that it is important to have a solid foundation in our approach to making money. Whether that be through a podcast or some other form.

And that is why, I am talking about the Money Mindset that all successful entrepreneurs and business people have.

Through the years, I have interviewed hundreds of amazing people, and the common denominator they all had in their success was that before they worried about how to make money, they changed the way they thought about money.

Over the next few weeks, as I dive into the three fundamental beliefs about money that successful people share, I want you to ask yourself where your money mindset is. 

What do you currently believe about money and making money? Think about it, and maybe even write down a few thoughts to compare with mine.

Let’s get to it!

Where Does our Money Mindset Come From?

We all have a different context into how we view money based on several different elements.

The way that we were raised, the people that we were surrounded with, the amount of money that our parents had growing up, the amount of money that maybe our relatives or a close friend or family member might have had.

The things that we were taught in school or in college or even the things that we were not taught in school or in college– all of these things formulate how you and I think about money.

My relationship with money has taken a complete one hundred and eighty degree turn from how I grew up.

One of the things that I had to overcome is the fact that people taught me all growing up that money was evil. If you wanted money, or if you went looking for money, you would end up with unhappiness and lack of fulfillment. 

While I still believe that money is not the answer to happiness, having money and making money is not evil and not to be feared.

Which brings us to the first of three fundamental beliefs about money that all of the most successful people I know share. 

Adopt these, and I won’t promise that you’ll be a billionaire, but I can promise you will have the right mindset to have a life of abundance.

Belief #1: Money is in Abundance

The first belief that you need to adopt is simply that money is in abundance. 

This is a fundamental belief that needs to change if you are going to make good money. The problem that people have when they first start trying to make money, is they have the bad mindset of thinking that money is scarce.

If you grew up in a time or in a household where adults were always telling you to turn off the lights because of the electric bill, or clipping coupons to save a few pennies here and there, this can breed the mindset of scarcity when it comes to money.

Now, there is nothing wrong with saving and being wise with money or spending, but we can often subconsciously believe that we need to save, save, save, because there is not a lot of money out there in the world. 

I’m here to tell you, that is just not true. Money is in abundance. Money is out there. It’s everywhere. They print more of it all the time.

So your question is probably, “Ok, Travis, but then why don’t I have it?” 

The question for financial success is not about if there’s enough money. The question becomes, “how do I go get some of it?”

So the very first thing that needs to change when it comes to your money mindset is believing that money is not in scarcity, and you have to start believing that money is in abundance. 

When I started believing that money was in abundance, I took responsibility and focused my attention on how to get some of it!

Just that one belief, that one shift, changed the way that I viewed money and changed the way that I brought money into my life. 

This foundational belief about money will change your mindset from living in fear about money or losing money, to living in excitement and anticipation of how to find it!

Practical Application of Belief #1

How do we then turn this belief into a practical action step we can apply to our life? Great question!

I interviewed Patrick Bet-David of Valuetainment on Build Your Network a few years ago, and his take on money was refreshing and helpful.

He gave a few practical tips that I felt lined up perfectly with this belief that money is in abundance.

Feel free to listen to his interview here, but let’s take a look at just a few practical ways we can live out the belief that money is in abundance.

1. Remove Distractions

Patrick said, “This is America. Listen, money is the easiest thing you’ll ever make…Unfortunately, we have way too many distractions today that get us away from what we could do to increase our wealth.”

When we believe that money is in abundance, people often dwell on the “things” money can buy. The cars, the houses, the parties, the jets, etc.

And while those are all fun and exciting, it is important to remove any distraction, physical or mental, when building a business.

Set your priorities in life, and if you believe that money is in abundance, allow building your business to be a priority.

Remove the distractions of what money can purchase in order to pursue what money can provide which is freedom and security.

2. Actively Look for the Opportunities Around You

The belief that money is in abundance should give you the drive and desire to look for ways to make money.

Patrick spoke of this briefly when he talked about his experience with his father’s cancer and insurance. When his father’s treatment at a government hospital did not go the way Patrick wanted, he saw an opportunity to launch into the insurance world.

He would later go on to start PHP Agency, Inc. which is still one of the fastest growing companies in the financial marketplace.

When you believe money is in abundance, it would make sense then that money is surrounding you.

Look for opportunities in your every day life. Find the pain points or the inconveniences that could be solved by a business.

Not every idea will be a winner, but if you remove distractions and look for opportunities in what you are familiar with, you can find something to take to the next level.

3. Learn a valuable skill

When you believe that money is in abundance, the drive to do whatever it takes to find it will ignite.

The best way to fuel this fire is to learn a new skill that would be help in business.

Learn to communicate well. Practice reading people and reading a room. Take a course in Microsoft Word or Google Sheets.

Set a goal to learn a new skill every month or every quarter. Maybe even have a big goal of finishing a degree or a certification within the year.

Whatever the skill is, learn it and apply it. Seeing how that one skill improves your business will prompt you to learn another.

We are always learning, and when we put a priority on developing our own skills, the world is a better place for it.

Conclusion

I sincerely hope that as you read through this you thought about your own money mindset.

What do you believe about money? Do you believe it is scarce or in abundance?

How would the belief that money is abundant change your viewpoint on the opportunities before you?

The best part about this is you get to tell me! Let me know in the comments below what your money mindset is and what practical tip you are going to apply today!

See you all next week for money mindset belief #2! It’s a good one….