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5 MENTAL SHIFTS FROM PAYCHECK TO PROFIT MAKING


“Profits are Better than Wages, Wages will make you a Living, Profits will make you a Fortune” – Jim Rohn

You know it is a bit difficult to get rich on wages, but anybody can get rich on profit making. Profit making change your whole attitude, even if you start part-time.

But there is a fear most people have when they say good–bye to the security of a paycheck and venturing to profit making. Often we feel little more prepared to assume full responsibility for our destinies than a small child would feel taking the wheel of a moving car.

All the thousands of self employed individuals I’ve talked with found being on their own to be filled with surprises- some big, some little, some delightful and others dreadful. Confronted with such unfamiliar circumstances, most people try to turn the novel into the known; so it’s only natural for us to want to operate from the paycheck mentality, which has been familiar to us for so long. Once we have the chance to be on our own, we may try very hard to run our lives in much the same way we did when we were on the job rather than profit making quadrant. But that’s like trying to drive a car from the passenger’s seat. From over there it looks easy. It’s hard to imagine all the complication that can arise once you actually take the steering wheel of a moving car in your hands.

Here are 5 mental shifts that can help you to move from wages to profit making.

1. Adopting a new Concept of what’s Possible.

As an employee every hour you work you are earning money for someone else. You are an expense. Obviously every employer wants to keep the expenses down; which means keeping the amount spent on employees minimal. The day you go out on your own, you instantly become an asset; the principal asset of your business. As long as you keep your costs down, everything else you earn is yours to keep and there is no arbitrary ceiling. The sky is the limit. You are limited only by your own time, energy, creativity, know-how and willingness to do what it takes. Properly positioned, you can actually make more than you would ever be able to as an employee doing the same work.

2. Establishing a New Definition of Security

As an employee you receive a paycheck. As long as you show up and do what you’re told, your paycheck arrives automatically. It’s a certainty you come to rely upon. But when you’re on your own, your profit making is created and not received.

This shift from the certainty of a paycheck to the ambiguity of the opportunities is probably the most difficult mental shift people have to make when venturing out on their own. It stops more people from following their dreams and sends more people back to a job than any other aspect of being on your own. In employment, a decision by one person can put you out in the street. But in your own business, every one of your customers has to fire you before you’re out of income. The decision to trust yourself and your ability to support yourself is exactly that, a decision as the weeks and months go by. If you refuse to be immobilized by fear and doubt and continue doing everything you know how to do to succeed, despite your fear and doubt, you will discover the ultimate security-the knowledge that you can and will make it on your own; that’s the mental shift you need.

3. Self-management Muscle

On the job you get sick leave, vacation time, coffee break, and social support system from low workers and the boss is always there to keep you on your toes.
On your own, you don’t get any of these perks unless you give them to yourself. So that is what you need to do. You need to know what will motivate you and keep you on track; so that you can produce best results.

4. Developing a new Source of Power.

Going out on your own is incredibly empowering, because suddenly you are totally in charge of your life. No one can tell you what to do or how to do it. And that usually feels great. But consider this; WHILE no one can tell you what to do, you can’t tell anyone else what to do, either. The day you say good- bye to your paycheck, you also say good-bye to that job title/ authority. You need to develop your charisma.
Charisma: is a personal quality that gives an individual a commanding influence or authority.
Once you own your personal power, you carry with you all the authority you need, regardless of your position or wordily circumstances.

Related: How Your Charisma Can Benefit You.

5. From Help Me to How Can I Help?

We believe that success is always a joint venture. You can’t do it alone. Seeking out and asking for help when you need it are basic to success at anything you do. Just because you’re on your own doesn’t mean you have to do everything yourself. In fact, research shows that those who are most successful on their own make heavy use of consultants, mentors and expert. They are willing to pay for the information and expertise they need. They also hire people to help them carry out aspects of their business they know little about or are too busy to handle.

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