If you were to search online for ways to increase your earning potential, you’d find plenty of articles that have some pretty good advice; things like getting a mentor, asking for a raise, networking, and having a side hustle.
These suggestions aren’t bad or wrong per se, but they are missing the right foundation. The foundation to actually grow your earning potential beyond your wildest of dreams is mastering your mindset.
Today, I am going to show you why your mindset can be your biggest obstacle or your greatest asset: the choice, friend, is totally up to you.
A business is not a guarantee of success or income
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I’ve been a dietitian for a while now. When I started my RD career, I had my hand in everything dietetics-related. I held many jobs, but the truth is: none were very satisfying. Nothing I was doing felt like it was lighting me up with the inner knowing that I was doing the work I was uniquely meant to do.
So I kept looking. There were signs that I was destined for entrepreneurship, but I resisted. I didn’t want that to be the answer, so I kept looking for a “signier sign.”
Ultimately, all signs pointed towards entrepreneurship. Oof.
So, I decided to start my own business. I saw this as an opportunity to gain more control over my career path and work…not to mention my income.
Truthbomb: what most people don’t know is that starting a business doesn’t guarantee a career or financial success. It’s a risk.
It’s also a risk worth taking. You just have to see the opportunity for what it could be.
What do I think is the biggest difference between those entrepreneurs who make it big and those who scrape by? Their mindset. But don’t take my word for it.
So…what is a mindset, anyway?
Your mindset is the collection of beliefs that shape how you see the world, respond to stress and opportunity, and your perception of what can happen in the future.
In other words, your mindset is your personally curated filter through which you see everything. I mean, absolutely everything.
Your mindset isn’t set in stone…but it can be. (More on growth vs. fixed mindset in a moment.)
But for now, your mindset is influenced by your family environment and childhood, your life experiences (including trauma), your opportunities, privileges, and mentorships.
It’s important – especially for entrepreneurs – because your mindset impacts what you believe to be true.
Here’s an example: two intelligent, hardworking dietitians can be in identical sticky situations and have completely different impressions of what happened and the meaning of what happened.
One could see this obstacle as proof that she’ll be stuck in work that she doesn’t love for low pay. The other might see this as the “signier sign” that this just isn’t the right role for her and to keep on moving forward.
What’s different? One has a growth mindset and the other has a fixed mindset.
These aren’t my terms. They come from the book Mindset: The New Psychology of Success by Dr. Carol Dweck, Stanford University psychologist. She is a world-renowned expert in mindset and has a lot to offer dietitian entrepreneurs.
Among other important things, predominantly what you learn is the importance of having a growth mindset.
A growth mindset or a fixed mindset
A fixed mindset is where you believe that qualities such as intelligence and talent are something you’re born with, not something to be cultivated.
In contrast, A growth mindset sees challenges and “failures” as steps within the bigger path towards the end goal. This is a mindset that empowers entrepreneurs to launch their businesses. An entrepreneur with a growth mindset expects challenges.
A person with a growth mindset sees their life, their opportunities, and possibilities as within their control.
Talent can be developed.
Intelligence can be stretched and strengthened.
While we all have different opportunities and privileges, at the end of the day, our life is within our own control.
Does that feel empowering?
Truth is: what you believe has the biggest impact on your own successes and failures.
If you believe that you have no control over your own circumstances – you’re right.
You’re also going to be stuck. And probably broke.
But if you believe that you have unlimited potential, you’re right.
Isn’t that far more exciting to believe?
Let’s dive into the good stuff: how to cultivate a growth mindset so that your life can blossom and your business can boom.
How to cultivate a growth mindset
Here are my three steps towards cultivating a growth mindset. This is a process and a journey. And as you grow and develop, you’ll experience new hurdles to overcome. But with a growth mindset, you’ll have the tools to overcome those, too.
Step 1: Create awareness
Our thoughts & beliefs about money are deeply rooted and often feel very true. Unless we have done the deep work of developing a growth mindset: these limiting beliefs are not true.
“Dietitians aren’t paid what we’re worth”
“I’ll never make six figures”
“The only way to make a good income is to have a business where I work 24/7”
The first step towards cultivating a growth mindset is to be aware of your current beliefs. As you have any kind of thought about money, jot it down.
What messages are filtering through your brain, again and again?
…Are they limiting? In my close to 30 years of experience, dietitians have a lot of limiting beliefs about money. And these beliefs are weighing us down and squashing our earning potential.
So let’s explore other options.
Step 2: Explore alternatives
Just because something has felt true for you does not mean that it has to continue to feel true in the future.
Your beliefs and mindset are allowed to grow, change, and evolve if you do the work.
You can say that dietitians don’t make a great income and cite different resources to prove that you’re right.
Or… you could look for alternatives.
Is it true that all dietitians make 50 or 60k?
Nope. Check out this podcast episode where I interview a 7-figure RD. And if you are truly open to a wider reality, there are many more dietitians who are too: you just have to have a mind that is open to that information.
New examples of wildly successful entrepreneurs are available if you look.
What do you do with this new information? Take notes.
Step 3: Write it out
A simple “brain dump” onto paper every day can help you gain more awareness of your thoughts.
Write down the thoughts that you notice, and then, write down what those thoughts could be if reframed with a growth mindset.
Want to see an example?
If you notice yourself saying, “I will never make more than 60k as a dietitian”, write down “there are many examples of dietitians making more than 100k and I am capable of learning how to as well.”
Awareness is the first step towards achieving the life that you deserve, a life you are perfectly capable of working towards. What’s next?
Awareness creates the foundation. What’s next?
Maintaining this awareness, and taking steps to create more positive results in your RD career, will ultimately lead you to have a more fulfilling and lucrative career.
To grow your abundance mindset and achieve your greatest earning potential, follow these three life tenets.
Tenet 1: Have unwavering self-integrity
Integrity is what you do when no one else is watching or evaluating what you do. Once trust is broken, it is a long road to repair.
Have unwavering self-integrity in all that you do.
Tenet 2: Take personal responsibility for your results
Your results, both positive and negative, are yours and yours alone.
When you make a mistake, it’s your responsibility to address it and do your best to make amends.
When you have a win, it’s yours to acknowledge and express gratitude for. Examine what contributed to both so that your future energy is moving towards the steps that earned the win. Rinse and repeat.
Tenet 3: Evaluate your results regularly
Evaluate your results weekly, quarterly, and annually to stay the course. Have big goals and divide those goals into quarterly, weekly, and daily action plans to get them done.
Evaluate your progress, see what is contributing to your growth and success and do more of that. Evaluate your data with calm curiosity, not judgment. You’re here to learn, grow, and achieve your greatest potential.
Key Takeaways: Increase your earning potential with a growth mindset
There are many skills that go into growing your earning potential; nothing is more important than having a growth mindset.
If you feel like an imposter asking for that raise, that mindset is going to negatively impact how you present yourself to a boss. Maybe you’ll get a raise, or maybe not…but what if you go into that conversation with a positive mindset that fuels not only your confidence but your meeting prep where you are able to detail the many ways in which you brought value to your organization? Your boss would be much more likely to consider you for a raise.
Your mindset is the foundation for your maximum earning potential.
So let me ask you this: has this topic gotten your creative juices flowing? Let’s continue the conversation. I teach my clients how to shift from a fixed mindset to a growth mindset in less time than it would take if they were to go it alone. Check out our private coaching program and schedule a consult call so I can help you do the same.