What Do We Want? Money. When Do We Want It? NOW!
One of the most difficult concepts to wrap my head around when it comes to successful business income ownership via the internet is this idea of doing the work and not knowing if or when payment for it is going to come. That’s almost a complete 180 from what we’re taught.
I have and I’m guessing you have too, been trained to do the work for 40, 50, 60 or more hours during the week because of a promise of a paycheck at the end of every week or two for showing up and possibly (hopefully) doing your best work a majority of the time.
Am I knocking that training? No way. Not as long as you’ve owned it, meaning you’ve built a solid work ethic for yourself, even if your current job is simply for the paycheck.
That experience is gonna be helpful, with a few adjustments, as you grow your freedom by owning your income.
Are You Recognizing Your Employee or Paycheck Thinking?
The employee or paycheck way of thinking says that we accept singular payment for work we’ve already completed and that we won’t be paid for that specific work again.
Sure we gain good will, a good reputation, even a solid work ethic for ourselves. Those are definite pluses. However, no more money changes hands for the work we’ve already done or the time we’ve already spent. Of course we can do the work again to get paid for it again, but we’ll never get that time back and that becomes an ever repeating hamster wheel.
Since we can’t make more time, we’re always trading time for dollars, which can suck.
It’s worse in a crazy economy and gets even worse if you’re a server, day laborer, or unskilled worker. You do the work once, get paid once and have no guarantee when you’ll be offered the chance to do the work again. There are so many forces outside your control.
But even knowing the downside, it’s still hard to step out of this cycle and way of working.
Bills are due – now. The belly wants food – now. Rent is due every. single. month. The idea that we know and trust is work that pays now or immediately is better than work that doesn’t.
If someone promised you payment at some indefinite time in the future for work you’re expected to do right now, would you do the work? How long would you do the work? How long would you be willing to wait for the payment for that work?
That statement, ‘work that pays now or immediately is better than work that doesn’t,’ feels pretty true when we’re in the employee mindset.
We see the work. We do the work. We want payment for the work in whatever time frame (now) we’ve unconsciously agreed to and determined is acceptable.
What Is the Transition to Income Owner Thinking?
The first adjustment to go from an employee mindset to an owner mindset is this – change the expectation that the work you’re doing is going to be THE exact work for which you get paid in some pre-determined time frame.
Here’s what I mean. Even in the business models which create a time for money exchange like Virtual Assistance, Ghostwriting, or Freelance anything, if you stay in the employee mindset, you won’t ever do the initial work because you don’t receive the required daily, weekly, bi-weekly paycheck.
So imagine the shock and utter dejection of someone who believes in the employee model of work for immediate (daily, weekly, bi-weekly, monthly) payment, when they come face to face with the reality of owning your income through any of the 1,000’s of ways to build a business.
It’s not wonder we believe the sales letters for training on how to create and build a profitable business empire, with no guessing, almost guaranteed, overnight if you buy XYZ course from the guy, gal, group, who earned $2,379.56 in just hours after they started their first online venture ever.
Of course we want to believe them because it fits the model of how we’re indoctrinated and supposed to be paid for work.
That’s one of the pitfalls many people step into and stay in when just getting started online. It’s a slippery slope for sure.
What we have to realize is that we may or may not immediately see any money from the time we spend doing the initial work, which leads to demotivation and lack of desire to continue doing the work. Unless you shift your mindset.
At least that’s what has happened to me until I started making this mental transition.
Because when I haven’t seen the results I hope to see, I start to wonder if I’m doing it wrong because I’m not seeing the expected and hoped for results (money).
Why Income Owner Results Can’t Be Measured by Money Alone.
First the work has to be done – whether you’re getting paid for it as an employee with a paycheck or whether you’re hoping to get paid for it as a busines owner.
As an employee – if you meet the basic requirements for doing the work, you’ll receive the result, which is the money you’ve been promised. There are two things to track. Did I do my work? Did I get my paycheck?
As an owner, even if you meet the basic requirements and do the work, there are other results to consider BEFORE you get the desired end result of money.
- How many people who need and want, plus are willing and capable of paying for the work, saw the work?
- How many of those people took some sort of action when they saw the work?
- What actions did those people take? (Optins, query requests, purchases, etc.)
- How many people took each action?
- How many of those actions did it take to get to a monetary exchange?
As you can see there are many more steps between ‘I did the work’ (cause) and ‘I received payment (result) for the owner than the employee.
This is why those sales letters play on your hope.
We wish and want the steps to be the same from employee to owner.
But they can’t be the same for the one simple reason amount of risk and reward. The owner’s rewards are tied more directly to the current AND future business income success, whatever the business happens to be.
An employee takes minimal risk when it comes to the expectation of payment for work performed. The owner takes on significantly more risk – for a greater potential of reward.
Are You Ready Cultivate Your Owner Mindset?
Can you see where employee mindset – ‘I did the work (cause), now give me my paycheck (results), might keep you away from the owner results you’re looking to acheive?
Continuing to have an employee or paycheck mindset actually limits your ability to own your income.
Are you starting to see the light?
Do the work. Show and share what you’re doing with the people who want and need what you’re doing. Always share a next best option.
Keep doing the work. Test, tweak, and track your results.
Start seeing the various results which means now you’re tapping into the owner potential of doing the work.
Keep testing, tweaking, and tracking. Keep doing more of the work that’s working. Stop doing the work that isn’t working.
The business owner mindset can be cultivated – if that’s what you want. It starts right where you are this instant.
You are not alone on this journey to owning your income. What makes us good employees can help make us profitable and successful income owners.