7 Core Considerations To Constructing A New Money Story
“Think you can, think you can’t; either way you’ll be right.” ~ Henry Ford
If you’ve been reading my blogs or following me on social media, then you’ve likely become familiar with the debilitating effects money blocks can have on your success with money and in life. Perhaps you’ve started uncovering some of your own money blocks and you’re now at the point where you are ready to write a new money story?
If that’s where you find yourself that’s great. But regardless of where you may be on your journey shattering the invisible boundaries over what’s possible for your life and creating a financially empowered life designed around your purpose, you’ll appreciate the wisdom from this article on things you should take into consideration that I learned from Dave, one of my mentors.
7 Core Considerations To Constructing A New Money Story
1. Disengage from “what might have been.”
If you attempt to reenter an old story and acquire what you missed in the past; it won’t work because it is no longer the past. I wasted a lot of time and energy lamenting over all of the reasons why despite my best efforts, I was unable to acquire a CPA firm in the past. Little did I know then that acquiring a CPA was not a part of God’s plan and purpose for my life. Looking back, it’s amazing how every door I thought I was to walk in to acquire those firms, was “magically” close shut for one reason or the other
By focusing on what might have been, you lose today and tomorrow. “If only” fantasies erode the power of today and expend energy that could be better served pursing your purpose for tomorrow. I know from personal experience that when you let go of the past, you reclaim your aliveness in the present.
2. Coming to the end of your past and even resolving emotional issues isn’t enough.
Gaining insights from your past and even resolving the self-limiting beliefs and attitudes that held you captive to an unsatisfying and unfulfilled life is great. However, you can’t get stuck in the moral victories of resolving all of the emotional baggage from your past. You have to harness all of that energy and use if for something good.
You have to have a purpose, a dream, in order to give hope a blueprint. To live a satisfying and fulfilled live, your next act has to be built around your purpose. The fire, passion and discipline that purpose gives you is what will not only sustain you on the journey ahead, but also help you overcome every obstacle while keeping hope alive.
The plot and strategies forged from your new money story provide the organization. The goals you set will provide the direction.
3. Have a “big picture” of your money story and bring it into focus whenever necessary.
The big picture consists of your own ideals and principles, and objectively organizing your life and decisions according to what you believe to be in your best interest. We’re talking about the rest of your life here so let’s take the time to set ourselves up for success.
Start by getting absolute clarity on your purpose. Why do you exist here on planet earth? What’s the one thing you do uniquely well that you’d do even if you weren’t getting paid? What are you passionate about? What did you used to dream about doing as a kid?
For example, my purpose is help clients overcome the magnetic pull of limiting beliefs from their past, so they can take action on present opportunities to create a financially empowered life, designed around their purpose, that brings immense success satisfaction and fulfillment beyond even their wildest dreams
Then work on getting clear about your vision. What are all of the different ways you are going to bring your purpose to pass? Will you be working as a solopreneur? Will you work with partners? What specific initiatives will you engage in? Who’s your target market? What are the different ways you can serve them.
For example part of my vision entails working with solopreneurs, small business owners, coaches, professional practice owners and executives. Some of the ways I’ll serve them will be working one on one with them in a coaching, mentoring or consultancy capacity. I’ll also work with them through my group coaching programs, online courses, summits, conferences, speaking engagements etc. etc.
Lastly, work on identifying specific goals that will support your vision and ultimately serve your purpose. Make your goals SMART….specific, measurable, attainable, realistic and time sensitive.
For example, when I was working on developing as a speaker, I set a goal to complete being certified by the John Maxwell Team by a specific date and did. As part of that goal, I wanted to be one of the finalists to speak on the stage at his biannual international certification events and though I didn’t make it to the stage, I did make the Top 10 list, which was the last phase before they picked 3 people to speak on the stage. Making the top 10 was a huge accomplishment for me back then.
The beauty of having complete clarity of your Purpose, Vision and Goals (“PVG”) is that it’s the safest way to avoid falling victim to the ‘shiny object syndrome’….something I’ve fallen victim to many times in the past. As you journey into living into your new money story, while the next right thing may not always be clear to you, I can assure you that if you have clarity on your “PVG,” you will always be clear about what the next right thing isn’t. If that next thing isn’t in harmony with your PVG, instantly you know you can confidently say NO to that shiny object being proposed to you.
4. Distinguish need from want and establish priorities
A need is an essential requirement, a necessity for mind, body or spirit. Think food, water, shelter, community etc.
Wants (wishes and desires) are replaceable with other wants, but a need cannot substitute for another need. Remember my earlier story about purchasing HIS and HERS Mercedes Benz while on my journey to becoming debt free? That was clearly a want that I somehow convinced myself was a need back then. The sad thing about wants is you can never get enough of what you don’t need. Think about it, do we all need a new smart phone every 12 months?
Priorities are about getting clarity about what is really important to you? Every day of your life, you will redefine and refine priorities, and make decisions based on this fundamental question. As you make those decisions, remember to prioritize plans and pursuits based on core values and needs. Again, did I really need those HIS and HERS Mercedes Benz vehicles?
Money and finances must be balanced with family, work, health, friendship, leisure and taking care of yourself. Any neglect or imbalance in one area may generate overcompensation in other areas, which strangely enough, throws you right back to being out of balance again. Forget being balanced and identify the right rhythm to your life and focus on staying in rhythm.
5. When establishing a goal, ask yourself, “What is good enough?” and also know what reaching a goal will do
The goal of “more money” can never be reached, because it has no end point. More money, like perfection is a quest that’s never satisfied. Instead, think about the level of influence and impact you want to have in specific areas and let that determine your money goal.
It is important to know what achieving a goal will do in order to distinguish clearly what it will not do. If you’re read through one of the gifts that I’ve given you on the 17 common money storylines, then you should be aware of some of the things money can’t do. Reaching a monetary goal will not undo the past, make your marriage better or make other troubles go away. This is one reason why I stress the importance of mastering the emotional language of money, for it truly is a secret language that determines your success in money mastery.
6. The only familiar territory is behind you
Danish philosopher Soren Kierkegaard said, “Life can only be understood backwards, but it must be lived forwards.” If worrying about the future fills your present, then both will be diminished.
As scary as taking bold steps forward to live into your new money story might seem, remember that you’ll never do anything important that will feel comfortable in the beginning. Your capacity to endure uncertainty is the essence of growth.
So, whatever your new money story calls for you to do, do it afraid. That’s what courage looks like…doing the unfamiliar afraid, until it becomes familiar and no longer scary.
7. Seek out suggestions, critique and professional advice
While it’s been said one the best investments you can make is in knowledge, the only other better investment you can make is in the specified knowledge you get from someone who’s been down the path you are embarking on. That’s where consulting with a mentor-coach to help you identify, deconstruct and construct a new money story for you will pay the highest dividends to you.
At times this may be difficult emotionally, when it would seem easier to consult (really collude) with someone who would mirror and agree with your own opinions. Taking the easier route would be fatal to your end goal. Seeking the help of professional advice from mentors and coaches, who are not only objective but can help unearth the treasures that lie within you, is something that quite frankly is invaluable.
Read this as many times as necessary so you can internalize each consideration. Then put it to good use in constructing your new money story. As you do, you’ll find that you are getting more fluent with the emotional language of money.
Needless to say, I believe it’s imperative you become fluent on the emotional language of money. It’s the secret sauce to creating a financially empowered life, designed around your purpose, the brings fulfillment and satisfaction beyond even your wildest dreams. It’s part of my calling and life work. It’s changed my life and the life of my clients for the better. It will have dramatic impact on your life too once you discard your old money story and live into a new one that you co-author with me as your trusted guide. I know you’re ready to start the journey to creating the life you can’t wait to live. We can get started right after you take the assessment and then book a call so we can chat!
That life you desire, that life you’ve been dreaming of, that sense of purpose, success and fulfillment that you know is your birth right, all of that is within your reach. It can ALL happen easily and effortlessly for you by simply taking your first step and completing the assessment and then booking a call so we can chat!
It’s time to construct a powerful new money story that empowers you to live the life you’ve always dreamed of!
With Abundance & Fulfillment,