From the monthly archives:

June 2009

Practically every high income woman comes to point in her life when she makes the “money decision.” It’s when she says to herself, “it’s time to make for me to make some money.” While some women come to this decision early in their careers, for others the change comes later in life. The late bloomers are often prompted by a divorce, a lay-off or an illness that results in mounting debt or a diminished lifestyle.

Initially it’s not necessary that you have a full blown plan of action. However the intention to make more money, becomes the basis for making new and different choices about your income and finances. Cultivating a “profit mentality” (see Day Two) calls for you to value the worth of your services appropriately. Having a profit mentality also means that you eliminate both the time wasting activities and the excuses that are keeping you from achieving your goal.

If you want to know your strongest intention regarding money—simply look at your current life. If you say that you want to make more money but you’re in debt, in a low-paying job, you can’t find the time to do what it takes to make more money or money simply eludes you—either you have not set an intention to make money or you have actually decided not be be financially successful. Remember no decision is still a decision.

YOUR HOMEWORK ASSIGNMENT:
Sit down with a piece of paper and write down that today you are intending to generate make more money.

1. Include a set dollar amount that you intend to make in the next 12 months.

2. Connect the money you intend to make to a concrete goal. For instance, I will use this extra $10,000 to pay down credit card bills, make a downpayment on a house; invest in my retirement fund or take a vacation.

3. Brainstorm about what steps you can take immediately to generate more income. (Be aware of internal resistence that you will feel—push past it)

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Yesterday I gave you some tips about finding out what would motivate you to make more money. Money as we discussed is merely a result–the endpoint. There has to be come strong emotional pull or goal that is going to make you undertake the work needed to change your mind-set and actions toward money.

The next step is to look at the shared characteristics of a power earners. It’s important to look at the similarities between successful people as a way to change your own attitudes and behaviors.

Here are the four key traits of high-income women:

1. Profit-Mentality: They expect to be well compensated for their time, talent and/or expertise. They want to make money because they enjoy what money gives them.

2. Daring: They have a willingness to stretch beyond their comfort zones and try something that she’s not altogether sure she can accomplish.

3. Resilience: They have ability to get up and brush herself off when she’s faced with an obstacle or a flat-out failure.

4. Supportive network: They have nurturing friendships and personal relationships. There are people in their lives who cheer them on and encourage them to keep moving toward their goals.

YOUR HOMEWORK ASSIGNMENT:
Compare the 4 traits of high-income women to yourself. This exercise is not designed to make you feel bad. The purpose is to have you clearly assess how your beliefs,a ctions and relationships are impacting your ability to take that steps that would earn you more money. Afterwards look at each quality of power-earners and in each area decide on one step that you could take immediately to make a change. For instance you may decide to raise your rates or cut-back on “volunteering” your services unless you are REALLY passionate about the project.

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