Do you want to know how to excel in making the most important financial decisions of your life? The host of The Deep Wealth Podcast, Jeffrey Feldberg, speaks with author and post-exit entrepreneur Richard Friesen on how to build a solid financial future.
The Value of Knowing Your Worth
Richard shares a seminal moment about his awakening financial consciousness back in 1995. Startled by a voice in his head declaring his worth at $200,000 a year, he began to challenge his beliefs around worthiness and money.
His breakthrough came when he decided to step beyond what he considered his worth. Richard made a conscious decision to take the best spot in the trading pit, firmly standing his ground and transforming from a cautious trader to a bold market maker. The impact was immediately noticeable; he significantly exceeded his previous earning potential.
This mindset shift demonstrated that internal limits often hold us back from achieving our financial goals. Ignoring these internal voices of limitation can result in substantial financial growth.
Our Mindset Plays a Pivotal Role in Success
Synthesizing the stories shared in the podcast, the significant role our mindset plays in determining our financial success becomes clear. Money mindfulness involves stepping beyond the confines of preconceived limits. It entails seeing the value in every financial transaction and understanding that success, viewed from the perspective of ‘certificates of appreciation,’ means delivering value to others.
Beliefs around money govern many of our financial decisions. Richard suggests an exercise called the ‘three-chair exercise.’ This unique approach involves having a conversation with ‘money,’ providing a fresh perspective about our relationship with money. This exercise often brings to light deep-seated beliefs or fears around money that can be addressed and reframed.
Richard brilliantly reframed the narrative about money and its negative connotations by describing it as ‘certificates of appreciation.’ The ‘money-as-appreciation’ perspective not only transforms the negative associations but also aligns financial success with the value one brings to the market. The more value delivered, the more certificates of appreciation received, and the more successful the entrepreneur is.
These entrepreneurial exercises Richard shared, like the three-chair exercise and guided visualizations, can be critical in identifying and addressing any subconscious elements obstructing financial success. By engaging with these limiting beliefs and narratives, entrepreneurs can rewire their neural circuits through conscious effort, enabling them to overcome these obstacles.
The Influence of Our Environment
Our environment, the people we interact with, and the beliefs we hold about ourselves and money can significantly impact our financial decisions. These factors can either limit our financial growth or propel us to new heights. It is, therefore, crucial to address these issues and align our environment with our financial goals.
A vital concept introduced in this episode is the idea of a ‘success thermostat.’ This metaphorical device represents the internal limits or threshold we place on our success, often unknowingly. Recognizing and adjusting our ‘success thermostat’ can lead to breakthroughs in our financial growth.
There is no denying that external factors like our background, culture, upbringing, and language significantly shape our mindsets and impact our success. In his experiences with his clients, Richard found that this is often a barrier to wealth for those with ‘good hearts,’ who may face a conflict between their values and their desire to accumulate wealth.
Therefore, gaining awareness of these subconscious messages about money and redefining them is vital – where wealth accumulation becomes about delivering value and earning appreciation rather than ‘taking money from others’.
Friesen pushes that one’s surroundings and the people they associate with are crucial for personal growth and financial development. He aptly states, “People who’ve never done any kind of visualization or talking about their parts or having different voices they get right into it. It’s not a problem.”
Conclusion
Mastering our financial future requires introspection, understanding our money mindset, and being open to redefining our success limits. The Deep Wealth Podcast is your ultimate companion in redefining these limits and unlocking your potential to achieve financial success. Let’s strive to extract our deep business and personal wealth and step into the future we envision for ourselves.
As Jeffrey Feldberg rightly concludes, “please stay healthy and safe.”
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Today, Feldberg's passion is helping you extract your deep wealth. The 90-day Deep Wealth Mastery program helps create a solid foundation for three areas: increasing profits to enterprise value and optimizing post-exit life. Deep Wealth Mastery offers strategies and insights drawn from Feldberg's rich experience. The strategies from the trenches get results. Jeffrey's vision is to increase the social fabric of society one entrepreneur at a time.
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