Poverty In The Mind Of
A Business Owner
By: Sandi Krakowski
You wouldn't think that most business owners online struggle with a lack mindset but many do. It is evident in workaholism, poor decision making and management. But even more so it's an infection of enormous proportions in the mind of many budding entrepreneurs.
What does poverty look like in a company and more specifically in the life of a business owner and how can you stay clear of this horrific condition?
To be impoverished and live in lack according to Webster's Dictionary is: The state of one who lacks a usual or socially acceptable amount of money or material possessions.
Scarcity goes one step further: The quality or state of being scarce; especially: want of provisions for the support of life.
When you see these two definitions you typically think of those suffering in a homeless situation, one who can't even provide for his next meal, the ones who live in third world countries who barely have sustenance. But you wouldn't see it as a controlling factor in the life of a business owner who can't get ahead, would you?
Let me say this as clearly as I can- having worked with tens of thousands of clients in my kitchenware businesses, the three vitamin stores I owned and operated, the gyms I work in coaching people in bodybuilding, the network marketing programs I built, writing copy, consulting in marketing and all the other things I've done…… this is a killer disease for the business owner. Few ever find their cure. Sadly.
How can you recognize poverty in your life or that of your company structure? Here are a few clues:
1. Do you guard the things you have as a company owner or business as though it is your very own? Do you make sure a contract is signed with every relationship and every task? Do you protect everything you have, every penny, every hour, constantly keeping track to make sure nothing slips through the cracks? This my friends is an impoverished state of mind and it typically will hold a company at the $ 1-15 million mark. Try as hard as they can, most company owners (and I say most, there are exceptions to every scenario) won't go beyond that point because of this basic essential need of control.
Control is a symptom of poverty. Good management is the opposite. Tony Hsieh is a great example of that. Rather than fearing his bottom line and having to fire someone his company practice was to give someone $ 2000 to leave if they were holding the team back. Nothing more needs to be said. What a wise man!
2. Is there always a reason for why you never quite made it to your dreams? Is someone in your past, your current clients, the economy, your competitors, those who didn't keep their end of the contractual agreement you had in a NDA the reason why you never got to where you should have gotten to? And is this story of such loss a part of your company history that all clients know? Do you nearly instill 'fear' into your customer base of anyone bringing harm on your "precious" – ie your company?
Many of you might be laughing at this point and that's a good sign. Others might be feeling completely sick to their stomach and that's a good sign as well… as long as you do something with that emotion rising up in you.
What is poverty anyways? Some think it's a force, an energy (negative). Others believe it to be a spirit, an enemy or a spiritual entity to be avoided. Whatever you believe is fine & applicable. I personally think it's all of the above!
3. Do you struggle to just get ahead? Are you selling a weight loss product but just can't break your addiction to food? When you work hour after hour after hour do you always feel like no matter what you do, you can't get ahead? Do you presume that others must have more talent, more insight, more gifting, more 'connections' and something else that is MORE than what you have? This is a sign of poverty. I'll agree that insight, gifting, connections and talent will get you far but a preoccupation of the more that others have is a sign of a deep rooted problem that will make building a company the hardest thing you ever do in your life. Hence the reason some stay in a dull, boring job they hate. The pain of staying where they are, they reason, is less than the pain of continuing to fall short on their desires.
What does poverty look like in a company and more specifically in the life of a business owner and how can you stay clear of this horrific condition?
To be impoverished and live in lack according to Webster's Dictionary is: The state of one who lacks a usual or socially acceptable amount of money or material possessions.
Scarcity goes one step further: The quality or state of being scarce; especially: want of provisions for the support of life.
When you see these two definitions you typically think of those suffering in a homeless situation, one who can't even provide for his next meal, the ones who live in third world countries who barely have sustenance. But you wouldn't see it as a controlling factor in the life of a business owner who can't get ahead, would you?
Let me say this as clearly as I can- having worked with tens of thousands of clients in my kitchenware businesses, the three vitamin stores I owned and operated, the gyms I work in coaching people in bodybuilding, the network marketing programs I built, writing copy, consulting in marketing and all the other things I've done…… this is a killer disease for the business owner. Few ever find their cure. Sadly.
How can you recognize poverty in your life or that of your company structure? Here are a few clues:
1. Do you guard the things you have as a company owner or business as though it is your very own? Do you make sure a contract is signed with every relationship and every task? Do you protect everything you have, every penny, every hour, constantly keeping track to make sure nothing slips through the cracks? This my friends is an impoverished state of mind and it typically will hold a company at the $ 1-15 million mark. Try as hard as they can, most company owners (and I say most, there are exceptions to every scenario) won't go beyond that point because of this basic essential need of control.
Control is a symptom of poverty. Good management is the opposite. Tony Hsieh is a great example of that. Rather than fearing his bottom line and having to fire someone his company practice was to give someone $ 2000 to leave if they were holding the team back. Nothing more needs to be said. What a wise man!
2. Is there always a reason for why you never quite made it to your dreams? Is someone in your past, your current clients, the economy, your competitors, those who didn't keep their end of the contractual agreement you had in a NDA the reason why you never got to where you should have gotten to? And is this story of such loss a part of your company history that all clients know? Do you nearly instill 'fear' into your customer base of anyone bringing harm on your "precious" – ie your company?
Many of you might be laughing at this point and that's a good sign. Others might be feeling completely sick to their stomach and that's a good sign as well… as long as you do something with that emotion rising up in you.
What is poverty anyways? Some think it's a force, an energy (negative). Others believe it to be a spirit, an enemy or a spiritual entity to be avoided. Whatever you believe is fine & applicable. I personally think it's all of the above!
3. Do you struggle to just get ahead? Are you selling a weight loss product but just can't break your addiction to food? When you work hour after hour after hour do you always feel like no matter what you do, you can't get ahead? Do you presume that others must have more talent, more insight, more gifting, more 'connections' and something else that is MORE than what you have? This is a sign of poverty. I'll agree that insight, gifting, connections and talent will get you far but a preoccupation of the more that others have is a sign of a deep rooted problem that will make building a company the hardest thing you ever do in your life. Hence the reason some stay in a dull, boring job they hate. The pain of staying where they are, they reason, is less than the pain of continuing to fall short on their desires.
4. When you create a website for your business do you settle for what you can 'get' for free? Are you always looking for the next discount? Do you stay with a 'free' hosted blog even though you know that it isn't the right way to run a business? Do you always presume it's God who wants you to stay where you are, it's just your lot in life that has made it impossible for you to get training on WordPress, sales copy, internet marketing and whatever else it is you need? This is poverty. It's a crafty form of poverty that keeps one in lack and scarcity, but in a very passive form.
Poverty is defined as a lack of a basic need. So what is the basic need a business owner has that he or she is feeling so removed from that would cause such destructive behavior? It's different for everyone.
I spent several months helping clients in a business I was testing out. It was a spiritual root coaching business. While my clients all had a faith based system of some sort they varied quite a bit. Some were Christians, others Mormons, Hindu, Spiritual, New Age, Metaphysical and even Atheist. But unanimously the roots could be found. It was very rewarding to see people with wealth written all over their life going beyond their limitations and stepping into their destiny. It was also very disheartening to see how many people knew what their problem was but didn't have a desire at all to change things. After 8 months I closed that business.
Your basic emotional needs cannot be met in the profit or loss of your company. You can pretend that it can be, but the cold hard truth is, your deceiving yourself. There is no amount of money that can bring peace to the soul, no amount of list size in your internet based business that can bring you security and contentment. Those have to be found first. Then crazy wild fun things will begin to appear in your business.
Currently I'm coaching every single week with marketing giant MaryEllen Tribby. You've probably heard me talk about her quite a bit. She's helped me tremendously. Her track record makes the things she suggests to me hold weight. When she gives me her thoughts on the reality of 'Original Idea' I take it to heart. When she sheds light on media buying, JV partnerships, the abuse of contracts, knowing what to charge and more, I take her serious. Having a mentor is one of the best ways I know of to overcome the things that are holding you back.
So, where are you today? Do you see yourself in any of the examples I've given? If you have, here is a formula for getting past that point.
1. Forgive. Start with yourself and then others. Do not exclude anyone or any situation. I realize it's easier said than done but having experienced horrific trauma in my life as a child, a gang rape at 19, several abuses in religious cultures in my lifetime and more…. I can say with full confidence… you deserve to let it go. You deserve to be free. Do whatever it takes to get to the other side of that pain and keep short accounts.
2. Be realistic. Your expectations of your business must be objective and not governed by your emotions. Be willing to go the extra mile, take the extra time and do whatever it takes to get input on what you can expect in your business. Masterminds and mentoring help tremendously with this.
3. Go forward. To be stuck is a sign of poverty. Sometimes just 'doing the next' thing will bring about change in your life. Going forward no matter what. Read "Ready, Fire, Aim" by Michael Masterson for more on that.
I believe with all of my heart that a business and owning your own company will change your life. It will be the most fun, the most challenging, the most rewarding and the most educative experience you'll ever encounter. But it requires a good hard substantial look at things along the way.
I hope I have helped you with this issue of poverty. This is NOT your portion in life and it's not your future. Let's move forward together, shall we?
674869520 3989986 7607885 n How To Build The Right Business" class="alignleft" height="137" src="http://sphotos.ak.fbcdn.net/hphotos-ak-snc3/hs338.snc3/29507_411527699520_674869520_3989986_7607885_n.jpg" style="padding: 0px; margin: 0px 1.571em 1.571em 0px; float: left; clear: left;" title="How To Build The Right Business" width="103" />
Sandi Krakowski spent 6 years in the Direct Sales industry building a $ 4 million dollar company that was run 100% online through eCommerce, building large sales forces in network marketing and home business industries. Expanding her skill set and offerings to her clients she invested over $ 200,000 to gain the powerful knowledge and wealth of skill her clients paid dearly for to earn millions for their companies. She went onto build a 7-figure marketing and copywriting firm in just 20 months.
Currently she runs one of the fastest growing training venues teaching beginners to experts how to really use the internet to it's fullest capacity. Clients such as EarlyToRise.com, Gina Alexander and Bob Bly have referred their own customers to Sandi for her WordPress Training.
She teaches with a style that is passionate, intense and fun! Her students say that they get more value from Sandi in one hour than they've paid months for from other online 'experts' who can craft great headlines but don't deliver results.
Sandi has a free report entitled, “The Biggest Mistake People Make With A WordPress Site” 95% of people make a single mistake with WordPress that costs them huge losses in their business! Don't let this be YOU! Grab this report now!!
{ 6 comments… read them below or add one }
Sandi this is a great article. Poverty, in every form that it out-manifests, is insidious. It slowly leaches the life out of everything it touches. We must constantly self-audit and stand guard at the gates of our minds and hearts. Forgiving is an act of immense generosity and it obligates the law of reciprocity to us. It frees us from the shackles that poverty binds us with and allows that which is rightfully ours to flow more easily to us. In order to get more of anything, one must be willing to joyfully give more of everything.
Thanks Rose! I couldn't agree more!
So good to be connected with you!
This is a brilliant article and very timely. I was just having a discussion about this topic with my folks. They just don't understand the internet world, the strong desire to want more from life and why I don't give up and get a “real job”. This will be one article I come back too frequently. Thanks Sandi
Great Article Sandi! I loved this part ….
~Your basic emotional needs cannot be met in the profit or loss of your company. You can pretend that it can be, but the cold hard truth is, your deceiving yourself. There is no amount of money that can bring peace to the soul, no amount of list size in your internet based business that can bring you security and contentment. Those have to be found first. Then crazy wild fun things will begin to appear in your business. ~
I’m still working on my peace, security and contentment stuff. I think that is sort of a constantly evolving process. But I’m also expecting the crazy wild fun things to start happening soon!
Thank you for this article. I recognise some elements of it in myself and can see how I am learning to let go of this. I also see it in other therapists I coach in practice building, I get rather frustrated when they will settle with Mr S*ite websites rather than investing the time/money on a wordpress site that will service them and grow with them as they build their business.
I really enjoyed your post and I love the title. Definitely some things in here that I can work on, some that I am already currently working on. Great advice!