Here are some steps you might have been missing out on building a growth mindset:
Embrace challenges: Embrace challenges as opportunities for growth and development. Instead of avoiding challenges, view them as a chance to learn and improve.
Learn from failures: Instead of seeing failure as a negative, embrace it as an opportunity to learn and grow. View mistakes and setbacks as part of the learning process.
Emphasize effort: Focus on the effort you put into a task, rather than the outcome. Recognize that hard work and persistence are key to achieving success.
Adopt a positive attitude: Cultivate a positive attitude by focusing on the positive aspects of a situation. Instead of dwelling on the negative, look for opportunities and possibilities.
Seek out feedback: Seek out feedback from others as a way to learn and grow. Be open to constructive criticism and use it as an opportunity to improve.
Be open to learning: Cultivate a love of learning and be open to new experiences and ideas. Seek out challenges that will push you outside of your comfort zone and help you develop new skills.
Practice self-reflection: Take time to reflect on your thoughts and behaviours. Then identify areas for improvement. Use self-reflection as a way to learn from your experiences and grow.
Celebrate success: Celebrate your successes, no matter how small. Recognize the progress you have made and use it as motivation to continue on your growth journey.
In summary, building a growth mindset involves embracing challenges, learning from failures, emphasizing effort, adopting a positive attitude, seeking out feedback, being open to learning, practicing self-reflection, and celebrating success.
Which one resonated the most with you? What else would you add here to building a growth mindset?
Most people want a business but actually, they want the result of the business, not do the work of the business.
Now for the painful truth…
We have a finite amount of time on earth. We waste most of our lives doing what we donāt enjoy doing.
Our golden years are around 0-25 years old. We have freedom and usually have childlike curiosity during this period. Also, we discover “real world” responsibilities. Then at 25-65, we have āresponsibilityā, which is usually an income. Only a few people have a job that we find fulfilling. This is rare. Most of us, donāt.
25-65 is the 40-year stretch. Then people retire at 65 but most of us are not in a position to retire at 65. This is the goal most people want to be free at. This is not a fun truth. Most people want to go on a different path. The traditional path does not work for the majority of us these days.
Then at 65, usually we have little left to live after this. The average age is 78 for most people. Since 78 is the lifespan.
Most people will work an extra 10-15 years after 65 to be financially free. Yet, many of us subscribe to wanting to take a different path.
Freedom
What Iāll be sharing is there are different types of freedoms. Many of us have a passion for these types of freedoms.
The types of freedoms I learned are:
Time Freedom
Ability to take a vacation at anytime
No committed schedule for how you want to run your life.
Location Freedom
Not having to check in at an office
Ability to travel and work anywhere
Financial Freedom
Money gives us freedom but is not necessarily the solution.
Mental Freedom
You get fulfilment from this
Can sleep well
Time and financial freedom without this do not make us entirely free from what we do.
āThe way you make money is just as important as how much you make.ā Usually, employees earn income by wage or salary. Either way, time or income is finite. By wage, we all only have 24 hours in a day. By salary, the income is still the same regardless of how many hours employees put in.
From here, I’ll be discussing the income matrix.
Income Matrix
Job Income
Passive Income
Leveraged Income
Digital Income
Infinite Income
Job Income
The downside to this:
Low mobility
Mostly no time freedom
Mostly no location freedom
Rarely financial freedom
Rarely mental freedom
Letās say, professional athletes. Theyāre paid usually very well but have limited freedom. Now for most of us who are not professional athletes, itās a rare thing for people who truly enjoy their job.
Passive Income
Income is produced 100% of income is produced without time or direct involvement.
Examples of these are through owning assets like real estate and stocks.
Downside: This route usually required saving up a lump sum to buy assets.
Often, this lump sum is from working from a job income for 40 years. Then one can finally reap the benefits at 65 years and then only have a short amount of years to enjoy this. Once this lump sum is achieved, itās usually eaten up by expenses. Or most people will outlive their amount leaving them with not enough to live off it. Or most donāt make it by saving enough to earn this lump sum.
Leveraged Income
This is another option to create leveraged income through traditional businesses.
Thereās no income cap for sure, but rarely any time or location freedom. Also, 90% of businesses fail.
Digital Income
With the rise of everything thatās online through the internet, the cost and barrier to entry are low. But the failure rate is high. Examples of these are:
Random side hustles
E-commerce
Courses
Agencies
Etc.
No barriers or limitations to those who succeed have:
Ability to travel around the world
Ability to work anywhere, anytime.
Nowadays, people are opting to take online education as opposed to traditional education.
Itās very appealing but not the best place for new people to begin because it has a steep learning curve. It takes more time and is tough to pull off part-time. Requires a lot of time and effort.
This route requires you to sell.
Infinite Income
This can:
be built on any schedule
can be built anywhere, with no cap on growth potential
built around something you enjoy
You can earn income while pursuing your passion and doing what you love. This is the type of freedom we should aim for.
It is important that you find a community where people are making infinite income this way. These people already subscribed to a “freedom first” mentality. They don’t hope and pray for it. They took action on it. All these people want from you is to see you take action, see your progress, grow and most of all, succeed. We push and lift each other to be the better version of ourselves. Once we earned these types of freedoms, we become free to explore other types of income. By earning infinite income, then we can build our way to freedom by doing what we love. Even more so, to pursue our passions and live our lives.
Practicing gratitude involves focusing on the good things in your life. As well as being thankful for them. It is about shifting your mindset from what you don’t have to what you do have. Also, acknowledging the blessings and positive experiences that surround you.
Gratitude has numerous benefits for your mental and emotional well-being. It can help reduce stress and anxiety. Further, it helps increase feelings of happiness and contentment. More so, it also helps improve your overall outlook on life. When you practice gratitude, you develop a greater sense of perspective. You gain appreciation for the people and experiences. They contribute to opportunities that make your life meaningful.
There are many ways to practice gratitude. Some of these include keeping a gratitude journal, expressing gratitude to others, or taking a moment to reflect on the good things in your life. It is important to make gratitude a regular practice and incorporate it into your daily routine.
Some tips for cultivating a habit of gratitude include:
Start your day by listing three things you are grateful for.
Express gratitude to someone who has had a positive impact on your life.
Practice mindfulness and focus on the present moment.
Use visual reminders, such as a gratitude jar or sticky notes, to prompt yourself to think about what you are grateful for.
Take time to appreciate the simple pleasures in life, such as a beautiful sunset or a warm cup of coffee.
In summary, practicing gratitude is about acknowledging and appreciating the positive aspects of your life. By doing so, you can experience a greater sense of happiness, contentment, and fulfillment.
The one advice I would give to my teenage self is a higher education degree does not necessarily correlate with a higher salary.
Sure, it depends on the speciality but is not necessarily true for all degrees. In my case, all my degrees are liberal arts degrees.
Another thing Iād add is that being a high paid employee doesnāt guarantee financial freedom. At the end of the day, employees are taxed. And especially more when theyāre on the higher tax bracket.
So, Iāll encourage my teenage self to explore the entrepreneurship path as well. This will come along with other skills to be developed as well.
Anything else youāll like to add that you want to advise to your teenage self?
The other day I went to pick up groceries. You know when you order groceries through an app then you get assigned a date and time when theyāre ready to be picked up? That.
Sometimes I go by myself, sometimes with my wife, or with my toddler. Or all of them together. Anyway, at times, when I go by myself or just with my toddlers, Iād arrive and park at the stall. Then Iāll call the number on the stall through on-demand interpreting services. Or most know this as VRS. Then Iād give the name and stall number Iām parked in. Then while waiting, if Iām by myself, Iāll be taking the time to think about my next post or just simply take the time to meditate. If Iām with the kids, then Iāll have a conversation with them.
Then when the employee comes out with the groceries, Iād typically get out to open the trunk. Usually, my intention is to at least connect with a basic conversation with them. First, Iād sign, āHow are you?ā The expected response is they freeze like a deer caught in headlights. Then I get sure with the thumbs up. This typically eases the tension. Then Iād get back in the car and let them load the groceries into the trunk. After theyāre done, they usually know to get my attention or make eye contact with me before they close the trunk then go. This usually ends with a wave or thumbs up.
Now, for those you watching or reading this, what would you do in a similar situation like this and why? Comment below. Iām curious to know.
1. Practice mindfulness: Take some time to tune in to your thoughts, feelings, and physical sensations in the present moment.
2. Journaling: Write down your thoughts and feelings and reflect on them to gain insights into your emotions and thought patterns.
3. Ask for feedback: Seek feedback from others about your behaviours, attitudes, and actions to gain a different perspective on how others perceive you.
4. Reflection: Take some time to reflect on your actions, thoughts, and behaviours and identify patterns and tendencies.
5. Learn your triggers: Identify the situations, events, or people that trigger certain emotional reactions in you and explore why they affect you.
6. Seek out different perspectives: Be open to different perspectives, opinions, and ideas that challenge your existing beliefs.
7. Stay curious: Continuously learn new things about yourself and the world around you, and explore different approaches to self-improvement.
8. Be honest with yourself: Be honest about your strengths and weaknesses, acknowledge your mistakes, and take responsibility for your actions.
9. Practice self-compassion: Be kind and gentle with yourself, and avoid harsh self-criticism that can inhibit self-awareness.
10. Seek professional help: Consider seeking professional help to gain a deeper understanding of yourself, particularly if you are struggling with mental health issues that may be impacting your self-awareness.