A Practical Guide to Money Mindset for Entrepreneurs

I used to think that mindset work was a load of crap. 

If you had said anything about mindset before I started my business, I would have just scoffed at you… “Pfft… mindset?! It’s all just woo-woo nonsense. Who needs it?”

Spoiler alert: You do. YOU need it.

Believe it or not, mindset work for entrepreneurs is incredibly powerful – especially when it comes to money mindset. 

I never would have thought that ✨MINDSET ✨ would be the thing that would make my business double, double again, and double again. 

I’m a very practical person, and it just felt too out there – too intangible and simply not a good way to spend my time. Mindset and business growth just didn’t connect in my brain.

But the more I grew my business and worked with other business owners, I realized that attitude is EVERYTHING.

Going into business with a positive money mindset IS the whole game. 

And what’s wild is I’d actually been doing money mindset work my whole life without even realizing it!

In this post, I’m pulling back the curtain on mindset for entrepreneurs – specifically money mindset work – and why it’s oh-so-important for your business. I’ll even share the exact 3 mindset tricks I grew up with that (unknowingly) helped me as an entrepreneur. 

And once you see just how practical mindset work can actually be, you won’t be able to UNsee how much it plays into your marketing, sales, and bottom line. 

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What Mindset for Entrepreneurs Means for the Practical Brain

You second-guess yourself on sales calls.

You know you’re undercharging but haven’t fixed it.

You’ve got a whole content calendar of ideas that never see the light of day.

Any of that sound oddly familiar? All those thoughts are signs that your money mindset needs some work. And it all traces back to one core principle:

Your thoughts drive your actions. Your actions drive your results.

I know, I know… it sounds a little too simple, maybe even a little too “woo.” Trust me, I get it. If there’s one thing you should know about me, it’s that I am PRACTICAL.

I like skills and hard work and I really like knowing it’ll all pay off in the end.

So wayyyy back in 2006 when my mom forced my sister and me to watch The Secret, you can imagine how hard it was not to roll my eyes.

The movie is based on the book by Rhonda Byrne, all about the law of attraction (aka the idea that your thoughts create your reality).

I was impressed by the concept, but it still felt too “woo” for me… until I heard it explained differently.

Someone told me your thoughts drive the choices you make, which drive your results.

Believe you CAN get something, and you’ll take real action instead of half-assing it. Take real action, and you get real results.

Having mindset explained to me this way finally got it to click in my practical brain. At the end of the day, it’s cause and effect – and that’s something I can get behind.

How Limiting Money Mindset Beliefs Affect Your Marketing

Cause and effect works both ways, though.

When your thoughts aren’t exactly cheering you on, limiting money mindset beliefs sneak in without you even noticing.

Watch how quickly this can happen in your Instagram marketing.

You go to make a post. Halfway through writing it, you think, “Ugh, this is too basic. Everybody already knows this. I need to do more.”

So you don’t post it.

Then your audience doesn’t grow.

And you don’t make the sale.

All because of one nasty little limiting belief living in your own head.

But now, flip it. What if you posted believing just ONE person needed to see your post today?

You hit publish, it gets seen, and maybe, just maybe, someone DMs you. Now you’ve got a brand new client – a real person whose life you get to change.

This shows up in your launches, too. When you believe in what you’ve made, you hype it up. When you’re nervous it’s not good enough, you overexplain it and the whole thing loses the fun and joy that actually gets people to buy.

And it doesn’t stop there. This same hesitation shows up anywhere you’re putting yourself out there – sales calls, how you set your prices, you name it. Having a limited money mindset will always stop you from getting the things you want.

When Your Money Beliefs Sneak into Client Interactions

Let me tell you a story that made me realize my own money beliefs can affect my clients.

A past Magic Marketing Machine client was running virtual painting classes. It sounded like a fun Thursday night, so I signed up.

I went to a fancy, professional-level art store armed with a supply list I only pretended to understand. 

The young woman working the till was lovely. She walked me around for ten minutes and showed me every option. I knew going in I’d be dropping some coin on real materials – and I was happy to. That was the whole point (otherwise I would have just gone to a regular ol’ Michaels).

Then we got to the till.

She looked at my pile, made a face, and said, “Oh no…this is going to be expensive.”

I mean, yeah. I knew that. It was an investment in a new activity for me.

Then she offered me a discount I hadn’t asked for. Asked if I was taking a class, and rang it in at 20% off.

The total came to about $180. And she said: “I’m sorry. I tried.”

What she said next revealed why. She said she’s someone who lives paycheck to paycheck, and wants stuff, and buys stuff, and then doesn’t have money. So spending a couple hundred bucks on something really stands out to her. 

I’m not shading her. I was fascinated by this interaction.

$180 is easy for me. I run a healthy business, and I know that makes me privileged.

But that same $180 wasn’t easy for her.

Both of these things can be true, and she wasn’t wrong to feel that way about her own money. Still, her money mindset shaped how she treated me as her customer.

Ask Yourself: Are YOU Your Ideal Client?

Think about this story for a second. In this moment, I was her ideal client. I wanted the supplies and I was more than happy to pay what needed to be paid for them. 

We didn’t need to have a whole conversation about cost because I wasn’t worried about it. 

But she was. 

She was thinking of her own situation and without realizing it, she assumed her ideal client held the same money mindset that she did. 

So, I want you to ask yourself: are you your ideal client or are you not?

For example, if you are a virtual assistant making $3,000 a month, you’ve probably got a scrappy, stretch-every-dollar money mindset in your personal life. 

BUT if you’re targeting high-level consultants making $15-25k every month, you can’t speak to them with your personal money beliefs in mind. You need to upsell yourself, show that you’re worthy of the prices you set, and speak with the utmost confidence.

It’s important to be cognizant of putting your own beliefs, worries, and fears onto your clients. 

Because when you forget that you’re not the same person, you price for your budget instead of theirs. 

You flinch at your own number. 

Skip the upsell because you wouldn’t buy it. 

You apologize for your prices before the client has reacted to it at all.

And sometimes – like the sales clerk at the art store – you talk someone out of a purchase they were already happy to make.

➡️ Is all this money mindset talk starting to hit a little too close to home? 

If you’re struggling to get clients from Instagram, your mindset could be what’s getting in your way. Check out my free Choose Your Own Adventure training to figure out what you specifically need to do to get more clients through Instagram. 

3 Tricks to Get Yourself into a Positive Money Mindset

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Okay, so we’ve covered a lot of ground already. But building a strong money mindset doesn’t have to be complicated. 

I didn’t even set out to build mine on purpose. My mom wired positive money beliefs into my head without me even realizing what was happening. 

Here are the 3 money mindset tricks for entrepreneurs I’ve unknowingly used since childhood that have helped me succeed. 

#1: The Coin Habit that Rewired My Brain 

One day when I was a kid, my mom came home from a money mindset workshop with a new rule: 

Every time we saw a coin on the ground, my sister and I had to pick it up and say, “I am a money magnet.”

This is something I still do to this day. 

But the thing is, repeating “I am a money magnet” does NOT summon money. What it does is build belief. 

And when you hold that belief close, you start behaving differently – including in your high-stakes sales calls. 

So, give it a shot. The next time you see a coin on the ground, pick it up and say, “I am a money magnet.” 

It’s the law of attraction all over again: Let your thoughts drive your actions and create your reality.

Try this:
Before you go into a sales call with a client, check in with yourself. Are you already expecting them to say no? If so, what would change if you believed you’re worthy of a yes?

#2: Money Mindset Affirmations to Say in the Bathroom Mirror

The money magnet thing wasn’t the only phrase my mom drilled into us. There was also “money comes quickly and easily.” But the affirmation that reeeally stuck was the one that randomly showed up framed next to the bathroom mirror: 

“That’s challenging. But with a little more practice and a little more training, I can do or be anything I want.”

It was soooo corny! Our mom made us recite it over and over every day and we hated it. 

Even now it lives rent-free in our heads. If I start chanting it, my sister will finish it from two rooms over. 

But what if that corny little poem shaped how I see myself today? What if repeating that I can overcome any challenge with practice and training shaped my entrepreneurial mindset? 

Who’s to say that it didn’t?

Turns out if you say something out loud enough times, your brain starts treating it as true no matter how corny it might be. 

Try this:
Pick one money mindset belief you wish you had. It can be something as simple as “I am worth what I charge.” Say it like you mean it out loud in the mirror for 7 days. Notice what shifts.

#3: Create a Practical Dream Board 

Around the same time my mom made us watch The Secret, I learned about dream boards. Turns out, that became one of my first concrete lessons that shaped my money mindset. 

Basically, a dream board is a collage of all the things you want. Cut out a picture of the thing, add it to the board, and wait for the universe to deliver. 

I did NOT buy the whole magic collage thing. So I translated it.  

Like every teen, I wanted a car. So, I cut out a picture of the car I wanted and added it to my board.

But I didn’t just wait for the universe to send the car to me. 

I looked at that picture every day and that car stayed at the front of my brain.

And because it was at the front of my brain, I got a $2 coffee instead of a $5 latte.

And I picked up the extra shift at the Spicy Olive (a real restaurant, where I was a real hostess) instead of going out with my friends on Saturday night.

Nothing particularly “magical” happened. I just kept the goal where I could see it and changed a hundred tiny decisions that would help me get there.

Try this:
Pick one goal you’re working toward and add a picture of it somewhere you’ll see it all the time. This can be your lock screen, your desk, the visor of your car – anywhere that will keep that goal top of mind. Let it nudge you toward the small choices that will help you get there.

Isn’t it wild how much the way you think about money can shape how you grow your business?

It can shape your interactions with leads and clients, and whether you hit ‘post’ or leave that Reel in drafts forever.

Your money mindset determines whether you ask for what you’re worth or talk yourself out of asking before the conversation even starts. 

A lot of times mindset work gets a bad rap for being all crystals, vision boards, and woo-woo nonsense. 

But when you reframe the way you think about mindset, you start to see how much it actually moves the needle in your business

My hope is that this post opens your eyes to the places where your own money mindset might be getting in your way or already working in your favour without you even realizing it.

Want to Start Improving Your Money Mindset in Your Business?

One of the best places to start is by taking a look at how you price your services.

You know that little flinch right before you say your number out loud? Or when you round down at the last second because you’re scared they’ll say no? That’s your money mindset talking.

In my free Pricing Strategy mini training, you’ll learn how to price your new (or existing!) offer in just two steps. 

And once you’re done, you’ll have a solid price that fully reflects what you and your work are worth. 🙌