Module 62 - 'Minimum-Wage Mindset'

Leadership, Personal Development, Motivation Blog Series

‘Minimum-wage mindset’ results in ‘minimum-wage results’

I want to start with a quote by T. Harv Eker: “Rich people have their money work hard for them. Poor people work hard for their money.” You may of course argue that this is not the case, but how many wealthy and successful people have you seen or know who think as someone who is earning just enough to get by?

Minimum-wage mindset

So, how does someone with a ‘minimum-wage mindset’ thinks, or what is a ‘minimum-wage mindset?’ Often this is someone who still lives in their past, they live with fixed beliefs of the past and with what they were conditioned to think and believe in since they were little kids. Now, I am not saying here that to become rich and successful you need to give up and forget everything that you had learned as a child from your parents, teachers, peers. Many of our character attributes learned early in life are absolutely valuable and important to remember, such as respect, courtesy, empathy, punctuality, etc. What I am saying though is that we need to learn to change and adapt to the time we live in today, while keeping our unique character values and beliefs.

Often what is holding us back limiting our ability to advance in life, and in turn reaching our full potential, is that we tend to get stuck in the past, refusing to change, adapt, and recognize that time had passed, people had changed, and expectations to reach success had changed.

Business environment that we live in today changes daily and requires flexibility, willingness to learn, and demands extremely strong work ethic. You cannot go to work with a mindset that I need to punch in, work my 8 – 9 hours, and punch out, while still expecting to be successful and reaching a lifestyle where you can have everything that you want whenever you want.

Punch in, Punch out mentality

Sure, you can absolutely work your regular 9-5 job, get your 40 hours per week, and have just enough money in your back account to pay your monthly obligations, and then have just few dollars left, if that, until the next paycheck, which is still who weeks away, while all you have is $5 in your account. So, what do you do? You begin looking for a second or even third job in order to take care of your family and their wants and needs. In this case forget about taking long vacation, since you have to work and cannot be away for more than two-three days at most, which are typically your regular days off, during which you have errands to run and paying bills. If this is the lifestyle you desire and comfortable with, then this post may not be for you, unless, you are looking for a way to improve your current situation and achieve something bigger in life. If you are currently in the paycheck to paycheck, working two to three jobs situation, I want to let you know that I know how it feels because I’ve been there and understand the feeling as if you virtually live at work without seeing your family for several days. The good thing is, you don’t have to remain in such situation. You can change your present if you have extreme desire to do so and strongly believe in yourself.

In order to being changing your present and begin creating the life that you want, you need to understand the mindset of someone who sees the world as a while canvas, where dream life can be created, where anything is possible.

Growth and Success Mindset, where minimum wage is unacceptable

This person may start working a minimum wage job, however, he or she will be immediately looking for opportunities and ways to improve their financial and professional wellbeing, and not by obtaining another job or secondary job, but by growing within existing role in order to keep moving forward. So many times, people begin a new job and once minimum required skills have been learned, they lose interest, desire, and drive to keep moving forward and continue growing themselves and business while acquiring new skills outside of what is required. How can you expect to change your present if you are standing still?

Success-Focused Mindset

People who are successful in life have worked extremely hard every day to reach to the top of their game. They have invested a lot of personal time towards their personal and professional development through formal and self-education, with tools and resources that were available to them at that time, not making excuses that it’s difficult, impossible, or that they do not know where to start.

Act now or wait for the ‘right moment’?

Successful people seek every opportunity to grow their knowledge and take advantage of what they can do today versus waiting for the right time to come. It’s just like with New Year’s resolutions, many people commit to lose weight, go to school, make more money, on December 31st, but then January 1st comes and nothing happens, simply because something else came up and commitment made earlier was placed to the side. Very few people actually press ‘resume’ on the goals that they have set and instead wait for the right time to come, or next year.

Why do we wait for the New Year to begin improving our life? It is all in your mind. If you have a very strong desire to change your present for the better, then there should be no reason to wait for a specific date, that time is now.

Successful people hold on to their commitments no matter what. What is the easiest way to lose trust of another person? It’s not following through on your promises. It works the same way in business and in life in general. When you set a goal, then do everything you can to reach it, and don’t stop until it has been reach. Do not make promises that you cannot deliver on.

Learning from mistakes

Successful people learn from their mistakes, make necessary improvements and try again without repeating the same mistake twice. As Steven Denn said: “You can never make the same mistake twice because the second time you make it it’s not mistake, it’s a choice.” So, don’t let temporary failures or mistakes stop you, learn from them and try again. Many successful and famous people failed multiple times before reaching success.
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If you really want something in life, if you want to change your present and create a life of your dreams, then you should really consider to understand your mindset and see if it aligns with your goals. ‘Minimum-wage mindset’ will not create a millionaire lifestyle.
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