327: The Mindset Shift That Made Me $40K in One Month - #GrowYourLife

Hey, everyone. Thanks for listening to the Grow youw Life podcast. My name is Jeremiah Krakowski. On this podcast, I show you how to grow your business, how to make more money as a coach, mentor, trainer, or consultant. And I want to show you today a topic that is going to help you tremendously as you're marketing your business, as you're building it. It's a habit that you need to develop more than anything else. There's a book that I've been reading and I've been developing over the last couple of months, my skills at trading stocks. In fact, over the last month or so, I've generated over $40,000 in profit just trading stocks. And it's incredible because this is a skill that I've been wanting to learn for a long time, but it comes off the balance of. Back in June, I made a decision when trading. I traded an options trade, and I lost $12,000 in almost an instant by doing this within the same day. And it was just. It felt devastating. It felt really hard. It felt really difficult. I since crawled myself out of that. I gained far more than I had lost. And I learned a habit of resilience that I think it goes far beyond just trading stocks, but it also applies in building your business. And it's something that I've developed in building businesses over the last 23 years. It's something that my mentors have taught me, and it's something that I've seen has the most tremendous impact on your life as a business owner and your ability to be resilient. And what it is is the ability to move quickly past mistakes that you make. This is a concept that I find that a lot of people fight because they sit in the feelings of a mistake for far too long. I've seen clients actually sit in a mistake for over 12 to 24 months for one mistake that they made. And this is actually an indicator of where they're at mentally. And it's a skill and an ability that needs to be grown. You see, when you're running a marketing campaign, when you're scaling your business, when you're trying to grow your business, you. You're trying to get clients, you are going to inevitably, inevitably make mistakes that may not turn out how you want them to initially. You might get the pixel wrong on your site. You might, you know, just not get anybody who opts into your campaign. And these are things that when we go into it, we need to make sure of that we understand are part of the process. Realize that every time that we run a campaign, it can either win or it'll lose. And instead of seeing things as losers, see them as potentials for learning any mistake that you make, no longer seeing it as a mistake. And that's what this book actually teaches. It actually teaches that to actually develop the ability in trading stocks, you need to not see your mistakes as mistakes, but rather as data to learn from and to then move forward and to take action on even the same thing you see, especially when it comes to trading stocks. But I believe it also applies to business. You're going to touch a few hot stoves, and you're going to have to literally go back and touch the hot stove again. But realize that you have a glove on and you have the ability to do so with wisdom and knowledge. And this is one of the biggest things that stops people, because we know that internally our brain is wired to not touch a hot stove. We are wired to not do the thing that hurt us. Let's say you ran a campaign and it didn't produce the results that you wanted or you made a mistake on something. The skill to develop is the ability to literally go back and do that thing again, but with new data, with adjustments, with a few rules in mind. I'm gonna check on my pixel. I'm going to get some help to help me build my campaign out better. I'm not going to let this one situation stop me from going back. So you wouldn't do that in your relationships? I mean, maybe you would, I guess some relationships, if they're a toxic relationship, you might get out of them, but there are other relationships that you would not do them in, say your marriage or things like that. And you might approach it with different data and a different approach. And so in your business, I suggest not to treat it like a toxic relationship, though it may feel like it. Sometimes it might feel like the most toxic relationship that you're in. Rather see it as, okay, what can I learn from this? And how can I quickly, quickly learn from my mistakes? Get back on the horse again, keep moving forward. You know, this past week, remember I told you I had over $40,000 in gains in the last last month in profit? Well, I had a day on Thursday, and it was a day where I, my mindset was not in the right place and just everything was going wrong. And I lost $3,000. This was this week, and I had, I had actually made that $3,000 over the course of the. The prior week and a half. So all of my gains for the prior week and a half were wiped out. In one day of me, they have the thing that's called house money fallacy. I learned this because I was up so much. I was like, well, I can afford to lose. Lose it. But here's the truth, really, not really that to grow my. My business, my stocks, my portfolio, my family, I got to take money off the table. And you got to not see it as, okay, this is house money, so I can lose it. And it's a concept where you establish certain rules of, okay, I'm not going to do this, I'm going to make sure to do this, and things like that. I was able to be resilient the next day. But I literally. I actually read this, but I listened to the audiobook of it. It's on YouTube. You actually can't find the audiobook anywhere. For the d. It's called the Disciplined Trader by Mark Douglas. You can't find the audiobook anywhere, but somebody scanned the book in and it's on YouTube. It's like six hours long. It's incredible. It's one of the best audiobooks. And I. And what I was thinking the whole time I was listening to it is every concept in this book translates to business. For my business owners, you don't have to be trading stocks, but it's a winning mental attitude of, okay, mistakes don't actually exist. They are just data to learn from and grow and to move forward and listen. That might, like, throw your mind for a loop, but can I tell you that if you start to look at mistakes that you make, as that is, they're just data that I can learn from, move forward, get back on, and do it again, your business will change because you will have the consistency, the momentum and the ability. See, every time that you make a mistake is still part of your momentum because you actually did something. Because you actually got into action, you took action, you did something. And that's more than most people can say. And so by developing the winning habit, the winning mindset of, okay, mistakes are just data I can learn from. And snowboarder Shaun White actually talks about this in snowboarding, the exact same concept. He had a massive injury in the Olympics, if you remember, public stage, smashed his head up, and he got back. Got back. Got back out there. He got back out there in the Olympics rather. And he says that he does not see things as losing ever. He sees it as either winning or learning. I can either win or I can learn from this, but it doesn't mean that I'm going to run from it. It doesn't mean that I'm going to say it was a failure, and that's a habit, and that's the winning mindset to have, is that we don't see things as failures. We actually are looking to fail often. And this is something that I know I've developed over the years, is that I am looking to have moments of failure, because what they do is they teach me where to grow, they teach me what to do differently. I do this in my marriage and my relationships with my family. Now I'm not working intentionally to fail, but I'm looking to develop habits and mindsets that keep me moving forward. I had this failure in trading stocks this weekend, this week, but the next day, I was able to actually recover about $600 of that in profit. And listen, most traders aren't able to get back up again and do that again after a loss like that. I know I wasn't in the past, but it was the winning mindsets of this book right here. And I'll, you know, I'll report back here in a week or so. Where I'm at on this, I might even teach some of the concepts of what I've been doing with trading. Been doing a really profitable scalping strategy. And so with that, what I want to share with you is that just learn to be okay with your mistakes. Love yourself through them. Say it's okay, it's all right, and it's all right to. To get right back on it. Maybe not the same day, but the next day. If you can learn this concept of I'm gonna learn, it's gonna be data for learning. You will transform your life and business. All right, listen, if you're a mentor, coach, or consultant, service provider who wants to learn, grow your business, and make more money, my Wealthy Coach Academy program is the place to do so, where we show you exactly, step by step, what to do. I come alongside you personally and walk you through the process in our community. I answer your questions. We have courses in there that literally will answer every question that you have, walk you through every process that's out there, but you also get personal interaction with me in there, and it's an incredible experience. My Wealthy Coach Academy program will change your life. Promise you that. Grow your life, everybody. We'll talk soon. Have a good one.