Podcasts > The School of Greatness > How To SHIFT Your FREQUENCY From Lack To ABUNDANCE & ATTRACT WEALTH (This Will FREE You!)

How To SHIFT Your FREQUENCY From Lack To ABUNDANCE & ATTRACT WEALTH (This Will FREE You!)

By Lewis Howes

On The School of Greatness podcast, Dan Martell expounds on shifting from a scarcity mindset to an abundance mindset around wealth and money. He advocates cultivating gratitude, reframing negative beliefs about the wealthy, and viewing money as a tool to create value and live according to one's values.

Martell stresses continuously developing skills, character traits like integrity, and workflows focused on high-leverage activities to increase market value. He also touches on managing time proactively, outsourcing, and investing in growth experiences over minimizing expenses. The discussion covers overcoming a victim mentality, addressing limiting beliefs about money, and adopting habits aligned with financial abundance.

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How To SHIFT Your FREQUENCY From Lack To ABUNDANCE & ATTRACT WEALTH (This Will FREE You!)

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How To SHIFT Your FREQUENCY From Lack To ABUNDANCE & ATTRACT WEALTH (This Will FREE You!)

1-Page Summary

Mindset and beliefs around money, wealth, and success

Dan Martell advocates moving from a scarcity mindset to an abundance mindset about wealth. He suggests reframing negative beliefs like "rich people are evil" to see wealth as an opportunity for creating value. Martell recommends cultivating gratitude and focusing on the abundance around you. He views money as a tool and resource to live freely according to your values and have a positive impact.

Developing skills, character, and value to become more wealthy

Martell emphasizes continuously upgrading skills to increase your market value. He advises learning what customers value and developing skills to provide more value. Martell also stresses building strong character traits like integrity, commitment, and self-discipline to attract success. He believes one's character ultimately attracts success more than just skills.

Strategies for managing time, energy, and workflows

Martell recommends conducting time and energy audits to identify areas to optimize and outsource. He suggests documenting processes with tools like screen recording to transfer tasks effectively. Martell advises shifting from "I don't have time" to "I'll create time" by managing your schedule proactively. He encourages investing in growth experiences over minimizing expenses. Developing systems focused on high-leverage activities is key, per Martell.

The psychology and habits that keep people poor

Lewis Howes highlights overcoming a victim mentality to take accountability for your outcomes. Martell discusses addressing negative beliefs around money, like assuming "rich people are evil." He stresses proactively investing in your skills and growth, not just working hard. Both emphasize shifting to an abundance mindset around money for fulfillment.

1-Page Summary

Additional Materials

Counterarguments

  • While cultivating an abundance mindset can be beneficial, it's important to recognize that systemic issues and inequalities can make it more challenging for some individuals to achieve wealth, regardless of mindset.
  • Reframing negative beliefs about wealth is useful, but it's also important to critically examine the societal structures that may perpetuate wealth inequality.
  • Gratitude and focusing on abundance are positive practices, but they should not overshadow the need for actionable steps and policies that address poverty and economic disparities.
  • Viewing money as a tool for positive impact is idealistic, but it's also necessary to acknowledge that not everyone has equal access to financial resources to leverage in this way.
  • Continuously upgrading skills is important, but there should also be an emphasis on the accessibility of education and training opportunities for all socio-economic backgrounds.
  • The advice to learn what customers value assumes a level of market access and entrepreneurial opportunity that may not be available to everyone.
  • Strong character traits are indeed valuable, but success is not solely determined by character; external factors such as networking, opportunities, and luck also play significant roles.
  • The concept of creating time for high-leverage activities assumes a level of control over one's schedule that many workers, especially those in lower-wage or hourly jobs, may not have.
  • The recommendation to invest in growth experiences over minimizing expenses may not be feasible for individuals living paycheck to paycheck or those with significant financial constraints.
  • The idea that character attracts success more than skills can be misleading, as both are important and often interdependent in achieving professional and personal goals.
  • Overcoming a victim mentality is a powerful step, but it's also important to validate and address legitimate grievances and obstacles that people face due to their circumstances.
  • The emphasis on personal responsibility in financial success may inadvertently downplay the role of systemic factors that contribute to economic hardship.

Actionables

  • You can start a "Value Journal" where you jot down daily instances where you've created value for others, helping you to recognize and focus on the positive impact of your actions.
    • Keeping a journal like this encourages you to actively look for ways to be of service each day, reinforcing an abundance mindset. For example, if you helped a colleague solve a problem, or volunteered your time for a community project, write it down and reflect on the ripple effect of your actions.
  • Create a "Skill Swap" network within your community or circle of friends to exchange expertise and learn new skills without monetary investment.
    • This can be as simple as teaching someone a language while they help you with graphic design. It's a practical way to upgrade your skills and foster a sense of community and abundance, as you both give and receive value.
  • Implement a "Character Challenge" where you focus on developing one strong character trait each month through specific, measurable actions.
    • For instance, if you choose to work on integrity, you might commit to always being on time for appointments for that month, or if focusing on self-discipline, you could set a goal to read for 30 minutes every day before checking your phone. This helps to build the character traits that attract success in a structured way.

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How To SHIFT Your FREQUENCY From Lack To ABUNDANCE & ATTRACT WEALTH (This Will FREE You!)

Mindset and beliefs around money, wealth, and success

Dan Martell, along with other thought leaders, navigates the intricate web of beliefs surrounding money, wealth, and success, advocating for a constructive and abundance-oriented mindset that redefines the value and role of money in achieving a fulfilling life.

Develop a wealth-building mindset by addressing negative beliefs and adopting an abundance-oriented perspective

Martell emphasizes changing negative wealth-related mindsets, advocating for a stewardship approach to money which includes responsible and purposeful management of wealth. He points out that some people struggle with receiving money due to negative beliefs about wealth and suggests that reframing these beliefs can foster a richer life beyond mere accumulation.

Challenge limiting beliefs like "rich people are evil" or "I'll never be rich" and reframe them to focus on the positive opportunities and resources available

Limiting beliefs such as "rich people are evil" can keep individuals from aiming to become wealthy, Martell explains. He encourages reframing these narratives to see wealth as an opportunity rather than a morally tainted outcome. Martell also addresses the issue of self-sabotage due to unconscious beliefs that hinder progress towards wealth and suggests that one should work through these beliefs to prevent them from holding one back. He cautions against equating wealth with negative repercussions, such as familial strife, and advocates questioning the truth of such beliefs by asking, "Is it true?" to uncover underlying misperceptions.

Cultivate gratitude and an abundance mindset by shifting your attention to the opportunities all around you rather than scarcity or lack

Martell asserts that an individual's work ethic is a byproduct of their gratitude and advises focusing on the abundance surrounding us. By fostering an abundance mindset, one can shift their perspective to perceive the world as full of positivity and opportunity. He shares a personal mantra for abundance: "How can I appreciate even more God's grace and guidance in this moment?" Further, Lewis Howes speaks of the importance of gratitude, evoking Ken Honda’s philosophy of mone ...

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Mindset and beliefs around money, wealth, and success

Additional Materials

Counterarguments

  • While adopting an abundance mindset can be beneficial, it's important to acknowledge that systemic issues and inequalities can significantly impact one's ability to accumulate wealth, regardless of individual mindset.
  • The idea that "money is not inherently good or bad" can oversimplify complex ethical considerations around wealth accumulation and distribution in society.
  • Focusing solely on changing individual beliefs about wealth may inadvertently downplay the importance of collective action and policy change in addressing economic disparities.
  • The notion of money as an amplifier can be problematic if it ignores the fact that not everyone has equal access to the initial resources or opportunities needed to create wealth.
  • The emphasis on personal responsibility in wealth creation can sometimes lead to victim-blaming, where those in poverty are seen as responsible for their circumstances due to their mindset, rather than acknowledging external factors.
  • The concept of ...

Actionables

  • You can create a "Money Mindset Journal" where each day you write down one way money has positively impacted your life or the lives of others. This could be as simple as appreciating a purchased cup of coffee that energized your morning, or recognizing a donation made by someone that helped a community. The act of writing reinforces the positive role of money and helps rewire your brain to associate it with positive outcomes.
  • Start a "Value Alignment Fund" by setting aside a small amount of money each week to spend exclusively on things that align with your personal values. This could be supporting local businesses, investing in eco-friendly products, or donating to causes you care about. This practice helps you to actively use money as a tool for personal growth and fulfillment, making your spending intentional and value-driven.
  • Engage in a "Skill-for-Impact Swap" with friends or community members where you exchange skills o ...

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How To SHIFT Your FREQUENCY From Lack To ABUNDANCE & ATTRACT WEALTH (This Will FREE You!)

Developing skills, character, and value to become more wealthy

Martell, Howes, and other successful entrepreneurs emphasize the significance of not only upgrading one's skills and knowledge but also cultivating strong character traits to support wealth-building efforts. These traits and skills contribute to increasing personal market value and attracting success.

Invest in continuously upgrading your skills and knowledge to increase your market value

Martell speaks about the value of continuously developing skills in the context of increasing one's wealth. He discusses the "teach not tell" approach, where he creates trainings for team members to help them grow, which also increases his business value. Dan Martell also suggests talking to your boss or customers to find out what they value and what skills you could learn to make yourself more valuable to them. He encourages inquiring about which additional level of value one can provide and stresses the importance of gaining knowledge to enhance one's market value. Martell emphasizes reading to serve customers better and setting oneself apart from peers.

Adopt a mindset of learning for your customers/clients rather than just for yourself

Martell highlights the mindset shift from learning for personal growth to learning in order to provide more value for customers or clients. This transition focuses on external benefits rather than just personal knowledge or skill enhancement.

Identify the next level of value you can provide and proactively develop the necessary skills

Martell and Howes both talk about the importance of being proactive when it comes to skill development. Howes shares his own experiences of needing to develop his skills through various jobs and encourages others to persevere in developing the value within, even through less-than-ideal jobs. Martell recommends upgrading one's skills as a path to creating more value.

Build strong character traits like integrity, commitment, and self-discipline to support your wealth-building efforts

Martell mentions that character traits such as integrity, commitment, and self-discipline are vital to evolve and become better. He points out that being someone who honors their commitments is crucial and underpins one's value.

Understand that your character and identity are ...

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Developing skills, character, and value to become more wealthy

Additional Materials

Counterarguments

  • While continuous skill development is valuable, it can lead to burnout if not balanced with rest and personal life; it's important to find a sustainable pace for growth.
  • Learning for customers/clients is important, but personal growth and learning for its own sake can also lead to unexpected opportunities and a more fulfilling life.
  • Proactivity in skill development is beneficial, but it's also important to be adaptable and responsive to changing market demands rather than only focusing on predetermined skill sets.
  • Integrity, commitment, and self-discipline are important, but so is the ability to adapt and sometimes pivot away from commitments that no longer serve one's goals or well-being.
  • Character and identity are significant, but external factors such as market conditions, economic trends, and networking can also play a crucial role in achie ...

Actionables

  • You can start a "Skill Swap" group with friends or colleagues where each person commits to teaching a skill they excel in while learning from others. This creates a community-based learning environment that encourages continuous skill development without the cost of formal education. For example, if you're good at public speaking and a friend excels at digital marketing, you can exchange knowledge in these areas, thereby enhancing each other's market value.
  • Create a "Character Challenge" journal where you focus on developing one character trait each month. Track your progress daily with specific actions that embody that trait. For instance, if you choose to work on integrity, you might commit to always delivering work on time or being transparent in your communications for that month. This practice helps to solidify the trait as a part of your identity.
  • Develop a "Value-Add Radar" by regularly ...

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How To SHIFT Your FREQUENCY From Lack To ABUNDANCE & ATTRACT WEALTH (This Will FREE You!)

Strategies for managing time, energy, and workflows to create abundance

Strategies for optimizing time and resources are essential for creating an environment where one can thrive. Dan Martell, along with other experts, offers insights into conducting audits, shifting mindsets, and developing systems to leverage one's capabilities fully.

Conduct a thorough time and energy audit to identify areas to optimize and outsource

Dan Martell discusses the significance of reviewing one's calendar over a two-week period to perform a time and energy audit. This review helps identify tasks that drain energy and can be outsourced efficiently, such as home cleaning or meal prep. It is also part of the "fill part" process, which identifies areas where time is not well spent and either optimizes or outsources them. Documenting everything is crucial, as Martell emphasizes, allowing for processes that enable a business to operate independently of any individual.

Martell demonstrates how workflows can be documented through screen and voice recording, making task transfer to others seamless. He shares his method of recording a video step by step and uploading it to a shared iCloud folder. This process informs the recipient to create SOPs based on the video, validating that knowledge transfer and understanding have occurred.

Document processes and workflows using tools like screen recording to effectively transfer tasks to others

Martell educates on the "camcorder method," which involves solving a problem once, documenting its resolution, and thus preventing recurrent problem-solving for future similar issues. It supports systems for teams to tackle problems independently and be held accountable for their problem-solving abilities.

Shift your mindset from "I don't have time" to "I'm going to create the time" by proactively managing your schedule and energy

Martell transitions from managing time and energy to addressing the mindset. He encourages negotiating one's time with the team and asserting oneself as the talent - delimiting engagement in essential activities and delegating the rest. He advocates for setting aside time and resources for what one deems crucial, like family, health, and relationships.

Moreover, he urges individuals to perceive and use time in a manner that aligns with their enjoyment and fulfillment. Highlighting the contrast in how time feels in different contexts suggests that time management is linked to the energy and joy derived from activities. He also touches on using wealth to invest in experiences, relationships, and growth opportunities and planning his life in five-year increments to prioritize meaningful experiences over financial saving alone.

Invest in experiences, relationships, and growth opportunities rather than just minimizing expenses

Martell exemplifies this principle by financing experiences like a family ski trip, valuing the memories over the monetary cost. He asserts that with business growth, leaders should gain more time, not obligations, and that schedules should populate with activities that are both enjoyable and pr ...

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Strategies for managing time, energy, and workflows to create abundance

Additional Materials

Counterarguments

  • Time and energy audits may not account for the unpredictable nature of some jobs or lifestyles, where tasks and priorities can change rapidly and without warning.
  • Documenting processes and workflows can be time-consuming and may not always capture the nuances of certain tasks that require human judgment or creativity.
  • The mindset shift from "I don't have time" to "I'm going to create the time" may oversimplify complex time management challenges and undervalue the importance of rest and unplanned time.
  • Investing in experiences and relationships over minimizing expenses assumes that one has the financial means to do so, which may not be the case for everyone.
  • The focus on high-leverage, high-value activities might lead to overlooking smaller but ...

Actionables

  • You can gamify your productivity by creating a personal "efficiency leaderboard" where you score your tasks based on value and time taken. Start by assigning points to different tasks according to their importance and the effort they require. For example, a high-value task that takes less time could score higher than a low-value, time-consuming one. Track your scores daily or weekly to see which tasks are giving you the best return on investment of your time and adjust your focus accordingly.
  • Try the "energy matching" technique by aligning your tasks with your natural energy levels throughout the day. Keep a simple journal for a week where you note down your energy levels at different times of the day. Then, schedule your most demanding tasks during your peak energy times and save low-energy tasks for when you typically feel a slump. This could mean tackling creative work in the morning if you're a morning person, or saving analytical tasks for the late afternoon if that's when you're most alert.
  • Create a "relationship i ...

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How To SHIFT Your FREQUENCY From Lack To ABUNDANCE & ATTRACT WEALTH (This Will FREE You!)

The psychology and habits that keep people poor or unfulfilled

Understanding the psychology and habits that keep individuals poor or unfulfilled can empower them to take control of their lives and achieve greater financial and personal success. Lewis Howes and Dan Martell discuss several key factors that can impede progress and fulfillment.

Overcome a victim mentality and take full accountability for your life and outcomes

Lewis Howes emphasizes the importance of shifting from blaming external factors to focusing on what one can control, which is essential for taking full accountability for one's life and outcomes. Dan Martell further reinforces this idea by encouraging individuals not to suppress their aspirations, such as driving a supercar or owning a jet, as living fully is the best way to inspire others and show accountability for one's life. This approach is echoed in their dialogue, shedding light on the deeper conversation about self-worth and value, which are integral to taking personal accountability.

Break the habit of not continually investing in your own skills and growth

Martell's initiative to tidy up his financial complexities serves as a metaphor for the act of proactively seeking to increase one's market value by bettering one's financial resources. Both Martell and Howes discuss the importance of investing in one's skills and growth, with Martell emphasizing the need to feed one's mind with knowledge through activities such as reading books. Lewis Howes shares his journey of continuously investing in his own skills and growth, demonstrating the significance of increasing market value for personal advancement.

Address any unconscious negative beliefs or behaviors around money and wealth

One habit that keeps people from building wealth, as outlined by Martell, is not investing in their skills. He suggests that hard work alone is not sufficient, and the cultivation of valuable skills is crucial. He also explores the challenge some people face in owning their wealthy status, which can be rooted in underlying beliefs such as considering "rich people are evil." Addressing these negative assumptions about being rich is necessary for overcoming financial limitations.

Martell discusses how to identify and rewrite a negative "money story" by examining all the negative beliefs one might have about wealth and addressing those that are flawed or untrue. He challenges the assumption that spending money in business is inherently negative by recognizing the value of business investments for growth. Martell and Howes also touch on the importance of feel ...

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The psychology and habits that keep people poor or unfulfilled

Additional Materials

Counterarguments

  • While taking accountability is important, systemic issues and external factors can significantly impact one's ability to succeed, and these should not be overlooked or minimized.
  • Suppressing aspirations might sometimes be a practical approach to managing expectations and focusing on achievable goals, especially when resources are limited.
  • Continual investment in personal skills and growth may not always be feasible for individuals facing financial constraints or those who must prioritize immediate needs over long-term growth.
  • Reading books and feeding the mind with knowledge is valuable, but it's not the only way to learn; experiential learning and mentorship can be equally or more effective for some individuals.
  • Increasing market value through personal advancement is a useful concept, but it assumes a level of privilege and access to opportunities that not everyone has.
  • Hard work is often undervalued in discussions about success, yet for many people, it remains a fundamental component of their achievements.
  • The idea that "rich people are evil" is a simplification, and while it's important to address negative beliefs, it's also crucial to critically assess the societal structures that contribute to wealth inequality.
  • Business investments can lead to growth, but they also carry risks, and not all investments are wise or lead to positive outcomes.
  • The concept of feeling worthy of success can be complex and intertwined with issues of mental health and societal pressures, which may require more than a change in mindset.
  • Shifting ...

Actionables

  • Create a "Control Circle" diagram where you draw a large circle representing your life and within it, a smaller circle for things you can control. Fill the smaller circle with actions and decisions you can directly influence, such as your response to criticism, daily habits, or career development. This visual tool will help you focus on your sphere of influence, reducing the energy spent on external factors.
  • Start a "Skill Swap" initiative with friends or colleagues where you exchange knowledge or skills without monetary transactions. For example, if you're good at graphic design and a friend excels at public speaking, offer to design their presentation slides in exchange for a lesson in public speaking. This barter system encourages continuous personal growth and the development of a diverse skill set.
  • Kee ...

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