Johnny Carter, Founder of Lifestyle Advantage explains the psychology of success…

The Psychology of Wealth Creation- tips for stay at home mums wanting to start their own million dollar businesses 

‘Mumpreneurs’, otherwise known as entrepreneurial stay at home mums, are the new breed of businesswomen. Being their own boss, conveniently working from home and achieving balance in family life hold immense appeal. But what if you could become a multi-millionaire by the age of 40? By creating the right mindset from the get-go, and with a strong understanding of Science of Mind and wealth creation, it is possible.

The Psychology of Wealth Creation – It’s an Inside Job.

Since learning NLP (Neuro Linguistic Programming), quantum physics and Science of Mind, it wasn’t long before I grasped the concept of wealth creation. That is, I realised how self-made multi-millionaires and billionaires no longer work formoney. Instead, money works for them. This means they have the freedom to do what they love, which is exactly what I wanted.

After networking with self-made millionaires, and then becoming one myself at the age of 35, suddenly I was acutely aware that all of us (yes, all of us) have the ability to create wealth. Sure, there are many people who are aware of what they could do to enhance their financial wellbeing. But here’s the thing, not everybody acts on what they know.

In order to become a wealth creator, it’s what you actuallydoabout what you know. If you learn everything about wealth creation and don’t close that knowing-doing gap, all of your knowledge won’tmake a difference. This is where Science of Mind of wealth creation and NLP work their magic. In other words, the human science that enables you to get yourself to do what you inherently know, or ‘Mind-to-Muscle’.

I also realised there are unusual linguistics surrounding wealth and money. That is, the meanings that each individual gives to wealth, becoming wealthy, etc. For some, these descriptions conjure guilt, unworthiness or inadequacy, and no matter how much they desire wealth they can’t manifest it because they are wired (within their own matrix framework) against it. Meanwhile, others can have the opposite response, where wealth purely equates to money and they are so caught up with it that their sense of wealth lacks a holistic approach.

Yes, wealth is an inside-out job. First and foremost, you must become wealthy on the inside (mentally and emotionally) before seeing it in terms of money, tangible things and related resources. Then you become a wealth creator for yourself and can create wealth for others. This is how the true pathway to financial independence is created.

Given we live in an age where there are unlimited opportunities to create income, especially with myriad online outlets, there’s no reason for mums not to give it a go.

Obviously you need to be discerning in terms of choosing what you do, and due diligence plays an important role. This means you need to do your homework and understand every detail of the offer to ensure you are not getting ripped-off by unscrupulous business dealings.

Johnny Carter’s top 10 tips for ‘mumpreneurs’ or stay at home mums wealth creation: how to get rich on the inside so you can be wealthy on the outside, too.

1. Create a clear vision and believe in yourself.

The clearer you are about your intent, belief in yourself and the outcome, the more likely it will manifest. But, how is this going to fit around your schedule? How much time are you willing to put in? What exactly is your vision? And, how much income are you wanting to create from it? Put this on a vision board, write it down and ask yourself, why are you really doing it? The ‘why’ will be your motivation for running a business.

2. Establish your budget from the get-go.

Ask yourself, how much money are you willing to spend on your first business? You need to look at the sort of return you can potentially make off it. Also, how many hours are you willing to spend on it per day/per week? You need to be realistic. Even though an online business is more economical, it still costs money. Have a reasonable budget in mind and always be aware of the additional expenses you need to include as sundry costs – those incidentals you don’t foresee early on.

3. Become a self-development junkie.

Before you start anything, spend at least six months educating yourself and filling your mind with the right content in order to take the required action. Read as much as you can, whether online or from the library or bookstores. There’s an abundance of material to choose from.

4. Get going online.

There are unlimited opportunities and resources online to create income. What’s more, online businesses don’t cost a lot. You can kick-off some online businesses with as little as $500. Plus, social media costs nothing to promote your business; it’s about the time you are willing to invest. Make sure you do your due diligence, though, and get second opinions. If you’ve got a credible accountant, financial advisor, or someone who you respect and has been in business, taken the risk and done well, go and seek their advice.

5. Make sure your health is tip-top.

It’s vital to start your day off well. Energy is everything and so is your state of mind. Meditate in the morning for 30 minutes and do some yoga to get your energy flowing. You want to get in the physical and mental state that’s conducive to doing the work physically. Having kids takes a lot of energy already. Another healthy habit is getting a diary and writing a journal entry of how you see your ideal day, planning and writing it, then sticking to it.

6. Tap into the power of affirmations.

Affirmations help to reprogram the subconscious mind and get rid of those self-limiting beliefs.  Repeat them to yourself every morning to get yourself going and put your mindset in the right direction. You’ll find plenty of affirmations online, and can easily place them around the house.

An affirmation might include: ‘I feel passionate about my life and this passion fills my life with excitement and energy’.

7. Be bold and take action.

Like everything in life, don’t just think about it or procrastinate. In order to make things happen, you have to move from fear to faith by building a bridge and taking action. Running a business inevitably has its hurdles. So make sure the original vision is a big enough motivator in terms of what’s getting you up in the morning to create this source of income. It really comes down to your mindset and how you handle challenges. Also, never be afraid of making a phone call to the owner of another business to get more information. Rather than emailing, pick up the phone, talk, get referrals and testimonials.

8. Think like it’s never too late.

Generally, women have a much better ability than men to be detached from the outcome. Men can be better at taking action but become more attached to the outcome. That’s why the male species tend to get more stressed. But what women do need to work on creating is that intention and taking that all-important action.

9. Create multiple sources of income.

The secret to wealth creation is having multiple sources of income. It doesn’t matter how big the source is, what’s great about having a number of home-based businesses, especially online, is you can you tailor them to fit around your schedule, such as school pick-ups and drop offs. Plus, you can spend more time working on your businesses rather than in them.

10. Ensure you have plenty of support and network with likeminded people.

Be wary of critics when in business, they will arise. In saying that, don’t be afraid or put off by others who criticise what you are doing. Instead, surround yourself with likeminded people, you’ll need them. Support from your husband or partner is ideal but not always possible. Fortunately, there are numerous business networking groups to join. A good starting point is meetup.com to see if there are stay at home mum groups with women trying to start their own venture. These groups are where you are going to get your support network from; sharing ideas and helping each other. It also helps give you referrals. Try to find time to go to a networking group at least once a week.

And finally: Move to the beat of your own drum. Success isn’t easy and running a business is hard work. But so is being a mum and having children. If you’ve gotten through that then I can guarantee that you can do this. Believe in yourself and push on to reach your goals. It could be an exciting new beginning.

Johnny Carter is the Founder of Lifestyle Advantage, an intuitive business and life coaching consultancy based on the ‘Law of Attraction’: www.johnnycarter.com.au