Work hard. Get a good job. Put in time. Climb the corporate ladder. Make money. Retire.
That’s what I was taught.
But that’s not how you actually make money.
I learned the real way of creating money through all my studying of money and business over the last few years. I’ve seen my income triple in the process.
Making money has nothing to do with time and energy. It has nothing to do with working hard.
Making money is easy and fun.
In this episode, I share how you can shift from the time economy to the value economy, where you attract money from abundance.
Here are more of my favorite resources for making more money:
- Value Creates Money–Not Time (blog post)
- 11 Small Money Mindset Shifts That Made A Huge Difference In My Life (blog post)
- Your Relationship With Money (podcast)
- Money Mindset Exercises (free course)
- Grow You (coaching)
Full The Make More Money Mindset Episode Transcript
Hello and welcome back. I am so excited to be with you for episode two. Today we are going to be talking about making more money, which is one of my favorite things to talk about, especially because I have been growing my business so much in a very different way than when I first started learning about money.
And it’s a really good example of what we’re going to talk about. So I don’t know about you, but growing up what I heard was, you know, work hard, go to school, go to more school, get a good job, makes some money, make a lot of money, you know, try to be quote unquote rich, which is like upper middle class at best, you know, be a doctor, be a lawyer, that sort of thing. That was like the frame that I grew up in and it was all based around time and effort.
Like if you go to school, if you put in time, if you put in more effort, you can work really hard, right? Hard work creates money. And today I want to tell you that this is a total lie. It is just, it is just, it couldn’t be further from the truth. The truth is that results and value create money. So those are the two things that I want you to learn today and take with you and apply to your life.
The time and effort economy where you believe that time creates money and that you have to put in more time working to create more money is like one way to look at the world. And then the other way to look at it is the results are value economy where you’re paid in exchange for the value. And the truth is you are always exchanging value for money.
But if you’re stuck in the time and effort economy, you don’t see it that way and you’re going to not make enough money or whatever amount of money you want to make and you’re always going to be like looking forward to Friday at five and looking forward to, you know, vacations only. You know, and not to say that you shouldn’t look forward to vacations, but it’s like you’re stuck in this cycle of where you’re dreading Mondays and looking forward to the weekend only.
And this comes from like most people in our generation having had parents and grandparents who taught us to live like, um, the depression era style where you are kind of clocking in and clocking out and you, you know, tracking your hours and that sort of thing. Now I want you to think about super, super self-made rich people, right? They make like a multimillions of dollars.
They don’t have more hours in the day so they can make so much more money, but they’re not putting in more time. So there are only 24 hours in the day. Revolutionary. I know. That’s why you’re listening, right? Um, everyone has the same amount of time, but self-made like multimillionaires have figured out a way to create money differently.
And I want to look at an example really quick. So think of it in terms of buying a new cell phone. Like let’s say you go into Apple and you are asking someone there about the product and you’re asking them about what features it has and the design and the camera and like all of the stuff, right? What does it look like? You want to know all of the value that’s in this phone. You don’t ever ask about what it took in terms of effort to create the phone, how many hours went into it, how much time was put into it.
Like you just care about the value. So money is always exchanged for value. It’s not exchanged for time. The same is true for anything else you buy, including services you paid for. So think about your dentist, right? You don’t pay him for his time. You’re paying for the result of getting your teeth cleaned or whatever you’re getting done.
And this is even true if you’re paying someone hourly, like an attorney, right? You might be billed per hour, but you’re not paying the attorney for her hours. You’re paying the attorney for what results you expect to be produced during those hours. You know, maybe creating a nondisclosure agreement for you or an employment contract or whatever it is. Like that’s what you expect. So money is always exchanged for value, not time. The problem is that like you can still earn a lot of money in the time economy.
So it’s really hard for some people to wrap their head around this because they have such strong beliefs that it’s not true. So you can work really hard and you can get a good job and you can make decent income and you know, decent in quotes here, it’s like usually determined by your socioeconomic status. And the problem with this is that you can save a lot of money and then you can retire.
And when you do this, there’s tons of effort supporting the time economy, right? You’re like, well, my grandparents did it, my parents did it. But in fact, you know, most middle class people are going to build wealth this way and it’s going to be a small amount of wealth and they’re not going to be like super happy doing it. And this isn’t everyone but this is a lot of people, right?
They, they work hard at their jobs like hoping to make decent income and then they don’t really enjoy it and then they look forward to retiring. Right? They’re just like grinding it out, trying to retire. The whole premise is that like the more time you put in, the more money that you’ll make like over time. But you know, in this kind of way of thinking you’re living for Friday at five, you are looking forward to, you know, the end of the day and all your vacations and you’re just not like, you don’t feel alive Monday morning and like if this is you, like I totally get it.
I’ve been there as an attorney and I’ve been there as a financial planner, both like excellent jobs. But for me, I did not feel like I was excited about my job. And when you’re focused solely on the time that you spend working in exchange for money, you don’t get excited about it.
So even though you can build wealth this way, it’s a much smaller amount of money and it’s like missing how you actually create money. So if you think that you have to work hard and put in more time and effort to create more money, then you will always be limited in the amount of income you can create. And it’s going to be a lot harder for you to really, really enjoy the process and kind of like be um, on fire and an alignment with how you create money.
To create more money, focus on creating value that you put in to the marketplace. So what I mean by value is going to be, um, whoever you’re serving. So if you’re an entrepreneur, you provide a product to your customers or clients in exchange for money. Even if you’re a service based entrepreneurs such as like a virtual assistant or a freelance writer, you’re still paid for the value you produce during your work.
It’s not like the hours themselves. So the more value you provide to your customers or clients as an entrepreneur, the more money you’ll make. This is why in my products, I always, always, always serve my clients first and want to over deliver in value. I always want to expect them to pay me less than what I think I’m delivering. Like I want to overdeliver that way I’m so confident in what I’m charging and I know that they’re getting their money’s worth like no matter what.
And this is how you can make a ton of money and you, when you focus on providing value to the world, you’re not focusing on like getting and hoarding money. As an entrepreneur, you’re just focusing on putting value out there and then letting money kind of be like the report card. I love that. So whenever I want to make money, I just come from a place of how can I provide more value to my audience.
But this isn’t just for entrepreneurs. The same thing is true for an employee. You’re also paid for the value you provide. You’re not paid for your hours. So even if you’re at like a 40 hour per week job, you’re not actually paid for those hours. And this was a real game changer for me. When I learned this, I was in my financial planning career and my attitude was shifted so much. It was totally different because I realized how I was showing up at work wasn’t like my best. Like I was fine, right?
I wasn’t doing anything bad, but I just wasn’t as like energized about the work that I was doing because I was thinking about the time instead of thinking about the value that I was providing. So like I wasn’t going there and being paid for the hours, right? I was actually being paid for the value I was producing for my clients and for the company, like primarily the company and my boss is the, is who I want to provide the most value to and then like indirectly it’s like their clients, right?
Cause I was on a team, that’s how it worked. So if you’re an employee, your client or customer is your boss. It’s the company. So your job is to serve your employer. So you should always be going into work thinking, how can I provide more value? How can I provide more value? And you will attract more money. And you might say, well, my boss is awful and I’m not actually paid more, uh, money.
If I provide more value, like we don’t get along. Whatever the situation is, right? And this may actually be true right now, but here’s the thing. If you always over deliver in value to whomever your boss is, eventually you’ll be paid more. Now, it may not be at the end of the day or the end of the week or at the end of this month, but you will become a person who over-delivers in value and opportunities will come to you and you will make more money.
That’s just the way the world works. Like you will attract and bring in so much more money if you become a person of value and you focus on over delivering value. So always focus on who your client or customer is, your company, your boss, whatever, and be thinking about how can I over deliver in value today? That is where you shift from the time economy and effort economy to the value and results economy.
And honestly it makes the day so much better. You’re not thinking about like when can you go to lunch or you know, when can you get home or whatever you’re thinking about like how can I provide more value? It’s just like what you’re focusing on and it makes the day so much more enjoyable. The same is true no matter what job you’re in, it can be, you know, a stay at home parent as well.
Like what value do you want to produce for that day when you’re home with your kids, it works the exact same way. So what I highly recommend doing is focusing on providing more value into the marketplace, into your job, into the clients that you serve into your business so that you will become a person who attracts money. And the great thing about over-delivering in value is then you’re so much more open to receiving money.
A lot of times we push money away because we don’t over-deliver in value. So we don’t feel worthy of accepting money receiving money. So you know, for example, people might try to give you money and if you come from a place of scarcity and don’t over-deliver in value, it’s really hard for you to accept money that’s offered to you. When you over-deliver in value and you’re constantly putting a value out into the marketplace and over delivering, it is so much easier to receive money, which is the point you want to attract and receive money.
So practicing over delivering in value in whatever way you do that in the marketplace will help you receive money. Another point that I want to make here is that you need to check your beliefs on what you think you can create in the marketplace. So how much money do you think you can create? You know, what do you make this year? What will you make next year and how much money do you think you’ll make in the future? And why?
You know, why not 10 times that, you know, there’s so much money out there, there’s infinite ways for you to create more money and provide more value. And I really want you to stretch your beliefs and try and just imagine what it would be like to make two, three, four times as much money in the next few years for you and why you’re not believing that you can do that and why you don’t want to do it.
Because truly your beliefs are what create the results in your life. Right? Your thoughts, create your feelings, your feelings, create your actions and your actions create your results. So yes, it’s the actions that get you the results, but your actions are driven by your feelings, which were caused by your thoughts. So what you think and believe ultimately does lead to the results over delivering in value and believing that I could make a lot of money is the foundation that I had to go out there and actually do it.
Now, the mindset stuff is so important and that’s what we’re talking about today. But you need the tactical stuff as well. But if you don’t have the right mindset and the right beliefs, it doesn’t matter what tactics are out there, you will find a way to self sabotage. So when I was taking blogging courses and business courses, I was in a really, really good place with my mindset and I didn’t self sabotage.
So I got the results. Like my mindset was great. It was coming from a place of abundance. I knew that value created money. So when I was learning the new tactics and creating a new business strategy, I knew that I had to over deliver in value. I knew that the money would come in if I over-delivered in value. And that’s the mindset that I had when I did all the tactics.
So I want you to just notice that, um, the beliefs come first and you need to really think about what you believe is possible for you with money. Why aren’t you believing more? Because the best news ever is that you can believe anything like anything. Isn’t that just fantastic? I just love that. So why not believe that you can create a lot more money and you do that by providing more value into the marketplace.
And once you have that mindset, then you will take action, you know, in alignment with how you want to provide value and you will attract so much more money from an abundance mindset than you know, a scarcity or trying to live in the time and effort economy.
Another point that I want to make is to separate out work from money. So when you go out and work, it’s your contribution to the world. It’s how you are providing value and you will get money from that. Like money will come in and you will attract it. But I don’t want you to think that you have to work hard to make money so that like quote unquote working hard is, um, is a really good characteristic and character trait to have as a human in the marketplace doing something that you love. But I don’t want you to equate that to how much money you can make because you will never be able to work your way to millions of dollars.
Now you might be able to, you know, quote unquote work hard to a hundred grand, right? Lots of people do it. But beyond that to really scale your income. If you’re always thinking that you have to work hard to make money, there are not enough hours in the day for you to be able to do that. Like it’s just, there’s only 24. So really notice if you’re equating working hard at your job with earning money.
I love working hard just to work hard because I love what I’m doing and it’s motivated by positive emotion and notice what emotion is motivating you to work. If it’s positive or negative, that’s a really big indicator as to how you’re going to move forward in your future. Like I love working hard because it feels good. I’m excited. I feel totally in alignment with how I’m contributing to the world.
Like I don’t want to stop working. I really, really love it, but that is not how I view money. I don’t think about the hours I work and how hard I work, equating to the money that I’m going to bring in. I continuously have been tripling my income and from my business. Well, you know, working full time and now, now I’m on my own, but I’m doing that. Um, as a way to scale my business.
I’m not equating the income to how hard I work. In fact, I hope in the next couple years that I will be working, you know, three days a week and I’ll be working really, really hard during those three days cause I just enjoy working hard. But I, I will expect my income to triple during that time. I want to get to a few million at least a year.
And that is just something that I’m um, deciding and believing in my head and I know that I’ll do it. But if I equated like how long and hard I worked, I would never be able to do that and I would never stop working. And it would always be equating how I contribute to the world with the amount of dollars that I’m bringing in. And they’re separate.
So notice if you are equating how hard you work with how much money you make, and I would love for you to intentionally separate the two because if you are very vested in earning your money per hour, you will be very limited in the amount of money that you earn because you can totally hustle your way to a hundred thousand dollars $150,000 maybe even $200,000 but after that you really can not hustle your way to $500,000 or a million dollars per year.
Like the math just doesn’t work. When people tell me that my products are worth twice as much as that they paid or that they would, you know, spend that again or double any day of the week. I feel so good because I know that I over delivered in value.
So when you think about earning money, are you thinking about everything you’re putting out there in the world and letting it come back to you or are you thinking that you need to earn a certain amount of money per hour? Really interesting. Important question for you to consider. Another really, really valuable question for you to consider is what do you think is normal? Like what socioeconomic status are you in that you consider making a certain amount of money is normal.
It will always be relative to other people in your life. So for me it was really normal to make six figures as an attorney and now it’s normal for me to make between $10 and $20,000 per month from my blog turned online business and next year I want to be at a place where 30,000 per month is normal.
And then I want to get up to that magic $83 K per month to hit the million dollars. So what is normal changes all the time? I love my coach and mentor Brooke Castillo. She is now making 15 million a year with the goal to make a hundred million a year. And it’s all relative, right? Like that’s a lot of money to me. I’m like, Oh my gosh, I just want to make a few million a year. But like why is that?
So what you think is normal is going to determine the results that you have in your life. So if a hundred grand is normal to you and that’s kind of what you’re thinking about, then that’s what you’re going to create in your life. And it’s a totally different way of thinking to get to that $1 million per year. And that’s where you want to go if that is actually what you want to make.
So just keep that in mind as you’re thinking about what’s normal and how much money you want to make in the future. The amount of work doesn’t need to match the money. So the amount that you work, the effort that you put in, the time that you put in does not need to match the amount of money that you bring in. Just make sure you separate the time and effort economy, get out of that economy and enter the value economy because the higher level value that you provide, the more people that you serve, the more value that you put out into the world, the more money that you will attract.
Money can be so easy. Like it really can and how much value you provide to the world will determine how much money you make. Okay. I have a free Money Mindset Training that you can take by going to Nataliebacon.com/money-mindset-training, Nataliebacon.com/money-mindset-training, and you can go through a free seven day Money Mindset Training to get more of this. All right, make it an amazing week. I will see you next time.
Thank you for listening to the Design Your Dream Life podcast. Subscribe to the podcast to get the latest episodes sent directly to you. To learn more about designing your dream life visit NatalieBacon.com.