There’s a few reasons why your money mindset and affiliate business are intricately linked. For starters, if you’re running a (mental) program of a lack mentality or poverty mindset, you’ll likely try to save money on training, products, information and services. This can mean you choose the cheapest possible products, or not pay for training at all. For years I tried to learn affiliate marketing by watching free videos on YouTube.
This can lead to more frustration and uncertainty as each self proclaimed internet “guru” preaches a different strategy! Cheap autoresponders can often get lower engagement rates, because they are linked to spammy emails. Doing everything “on the cheap” isn’t a great strategy, as I found out at great cost. Time is far more important than money and we all only have a limited amount of time.
Still, that’s no help if you’re struggling financially. So I’ve created a few links for cheap and free stuff on this site to help such as the free autoresponder for affiliate marketers.
Why Your Money Mindset And Affiliate Business Are Intricately Linked – Products
For a long time I struggled financially. So when I bought something online, it would be a very cheap product, such as a book from Amazon. Because of my poverty consciousness, I believed everyone else had the same lack and limitation. So I chose to promote low cost items from Amazon and eBay.
Those were the things I bought myself, so I expected others to want them too. There’s two main problems with this mindset. Firstly, not everyone is just like you. We don’t all want the same products. Second, there’s all kinds of products to sell as an affiliate. Selling the cheapest ones is counter productive for affiliates because you earn the lowest commissions from them!
When I switched this mindset and started promoting high value products instead, things began to change for the better. I was able to make much larger commissions from fewer sales.
Why Your Money Mindset And Affiliate Business Are Intricately Linked – Investing In Yourself
I didn’t have the money to invest in myself and my online education for quite some time. However, in 2014 I discovered an online education program and I made the decision that I had to invest. The cost of not doing so was greater than the risk! Only when I realised this did I start to invest in myself and believe in the possibility of earning a real income online.
The catch 22 of affiliate marketing is that most people look towards affiliate marketing because they lack money. So they don’t invest in their education. Their results reflect their lack of understanding and whatever they try nothing seems to work.
I was in this position for several years before I finally started invested in myself.
If your belief is linked to lack, you avoid spending. But it’s a self fulfilling prophecy because you carry this belief forwards into your life, skimping on your education. Most university degrees cost tens of thousands in education fees. But somehow most don’t see their online business education in the same way.
Running Paid Advertising
I’ve spent quite a bit on advertising over the years and I have to say I’m still battling with this one. A poverty mindset brings with it fear of spending. So if you’re trying to build an online business with paid advertising, and fear losing money doing so, you’re more likely to lose. There’s a saying in the trading profession that “scared money is lost money”. It means that money you’re terrified of losing is more likely to be lost. This is because you’re attached to it.
The affiliates who do well online start out with a small marketing budget that they are prepared to lose. That money isn’t “lost” if you learn something from the data you collect and have a plan (for that knowledge) going forward.
Of course if you don’t have a marketing budget at all, you’re probably better off creating content as an alternative. If you’re wavering and insecure about fear of loss with a marketing budget, you are probably spending too much. Again, with the right help and support, this is much easier. It’s very difficult learning paid advertising without the help and support of long term affiliates and marketers.
Belief & Confidence
I have definitely struggled with confidence when it came to building an online business. But confidence and belief are a form of (spiritual) currency and are definitely linked to a poverty/wealth consciousness. As the Henry Ford quote reminds me “whether a man thinks he can or he can’t, he’s right”.
Some people have no money but have more happiness (and joy) than the wealthiest in society. This is testimony to the power of a positive (and happy) mindset. If you can’t be happy without money, you won’t be happy with it!
Your mindset around money/belief/confidence can be beneficial or a detriment to your online business in lots of ways. If you don’t believe something is possible, it’s unlikely you’ll even try.
Mindset Shift
As a beginner I was full of doubt. I wasn’t sure in what direction to take my affiliate business. Should I blog, should I do paid ads? I didn’t know. The not knowing meant I became confused and disillusioned. Nothing happened but I ultimately became a blogger, hence this blog post. Over time, I wondered whether blogging was actually going to work for me. I wondered whether it would make me any money.
But once I got into the swing of things, and started enjoying blogging, I let go of this anxiety. Low and behold, things started happening and I started making those nice affiliate sales. When this happened, it gave me new found confidence and motivation, so I was able to double my efforts.
Confidence and belief can work magic on your affiliate business. When you start seeing results, you’ll be renewed and encouraged. Before that, it can be hard finding your feet.
Summary
So why are money mindset and your affiliate business intricately linked? If you have a poverty mindset, you’ll skimp on your education. This is the foundation of your affiliate business because all your actions will stem from what you know. If what you know is flawed, it’s likely to reflect in your results.
Doing everything on the cheap, like I did, might mean you think in those terms. I thought people only bought products I could afford. But my mentor told me to aim high. There’s millionaires online buying helicopters, for example. Why not aim at selling those products instead of the ones which pay you so little?
Lowly aimed goals reflect low expectations and often come from a lack and limited mindset. Aim higher and stretch your beliefs. If you fall short from a lofty goal, you’ve still out performed a mediocre goal.
Beliefs built on a mindset of abundance are more likely to produce results of abundance. Those built from a poverty consciousness always perpetuate lack and limitation through their very nature.