How to Dig Yourself Out of the Poor Mindset

When I came to this country, my family and I were broke and poor.

You may go broke, but you’ll never have a poor mindset.

What’s the difference?

To me, broke is simply when you’re out of money. Poor is a state of mind. Poor means that others have money and you don’t. It means you don’t believe in abundance, you believe in scarcity.

You may go broke, but you’ll never have a poor mindset.

 

Broke vs Poor

To me, broke is simply when you’re out of money. Poor is a state of mind. Poor means that others have money and you don’t. It means you don’t believe in abundance, you believe in scarcity.

I tell my wife now, “Hey listen, I might make a bad decision with the franchise, and we might end up going broke. But I’ll tell you this: I’ll never be poor, because I’ll be broke for a small amount of time and then I’ll find a solution to a problem that society is having. I’ll start charging for that solution, and I’ll make money again.”

Being broke means someone makes a bad decision and they’re out of money for the moment. Being poor is the mindset of, “It’s just…I doubt myself and don’t believe I’m worthy of success. I don’t believe that I have a good relationship with money. I don’t believe that I deserve money.”

 

You Have to Pay Your Dues First

People have to break out of this poor mentality, man, because it’s choking them out. Unfortunately, most people think that things are supposed to work out perfectly right out the gate.

It doesn’t. I was a 15-year overnight success.

When I was bleeding, you didn’t know of me. I would literally walk from my apartment to my car in the carport and the sun would just touch my skin. My skin would burn. I would have essential tremors where I would lock up and just tip over and freeze for a minute or two, and my wife would have no idea what’s going on.

I would have anxiety attacks so bad that I had to go to the hospital, but nobody was around when all that was happening.

Now people see the big franchise, they see the coaching clients, now they see all the thought leaders that I coach and consult. You have to give it a decade, a decade and a half, to succeed.

 

When (and How) Do You Course Correct?

Now, when do you know it’s time to course correct? Sometimes you might know early on—a year in, six months in—but I say to ask a mentor. When you’re in the trees, you don’t have the eyes to see your situation from the outside. You just see the trees, not the whole forest.

So most people need to go, “Hey mentor, I’ve been doing this for six months, but I’m not seeing any money. I’m already $50,000 in, should I keep going?”

The mentor might go, “Oh, you know what? You’re almost on the right track; just pivot 90º this way and keep going.”

Or they might say, “That’s an absolutely stupid idea, I can’t believe you started it. I’m glad you asked me. Now let’s course correct completely and move on.”

In the beginning, you have to have mentors around you that you trust, people who have already been where you want to go. If you don’t have those mentors, then you need to have a strong gut.

For me, I was fortunate enough to have mentors. I was a personal trainer, I had clients. These clients were financially successful, and because I couldn’t afford a mentor or coach to guide me along, I would just ask them, “Hey look, I’m trying to start a personal training studio. Am I on the right track? Is this what you would do?”

They would say, “No, try it this way,” and I would. And here I am now.

Perfect your mindset and watch yourself grow into a booming entrepreneur.

 

Committed to your success,

Bedros