Two Kinds Of People—A Mindset Shift That Will Transform Your Life
Those who are successful have a unique mindset and approach to life. The majority of individuals are not successful because they are not producers, but because they spend most of their time as consumers.
So what is holding us back from launching that side venture? Or the result of establishing such a company? What prevents us from stopping creating excuses and actually starting?
Consumer mindset
From childhood, we are groomed to be obedient consumers in a materialistic culture. Everybody buys. Reading, listening, eating, and shopping fill our days. To be joyful, we buy unnecessary things. Always buying newer, better stuff. We work to buy the latest clothes, car, and meals. None of this will bring us happiness. Real happiness comes from financial freedom and independence. It comes from believing you can achieve your dream.
Consumers and producers—what's the difference? Some don't know what it means or why it matters. What impact would one make in our lives or the world? More crucial than you realize. Your life may vary depending on whether you're a consumer or producer.
Consumers on spending their money
- Entertainment: Distractions. To escape your situation, you spend money. Technology, entertainment, the best TV packages, foolish shopping, gambling, drugs, alcohol, etc. They're popular because they're great distractions.
- Disposable Gimmicks: Products and services that promise "quick fixes" Drugs, booze, fat-burner medications, get-rich-quick schemes... These consumable items and services are aimed to make consumers think they can address their problems without any effort.
- Brand: Spending money on things they think project an image. Here's the truth: they're projecting their own discontent. How come? Because maybe it's true if you can convince someone.
Producers on spending their money
Investing is the only thing that producers care about spending money on. As a result, manufacturers are patient when it comes to making investments. They are not interested in "quick-fix" products. Most of the time, you need to be patient for the return.
A few examples of producer investments are listed below.
- Investment: Spending money to make money. Investments in stocks, bonds, real estate, or businesses. This spending generates revenue
- Investment in oneself:
Professional and Personal Growth: Books, lectures, seminars, courses, personal coaching/mentoring—anything that can help people reach their goals.
Producers recognize that their health is an investment, not a cost. Producers invest in their health:
- Nutritional supplements or higher-quality food: Better input yields better result.
- Exercise: A gym membership, but also jogging shoes or a bike (gotta have a bike to be a cyclist).
- Investing in others: Producers value it. Sometimes that investment is meant to yield an interpersonal, social, time, or quality gain rather than a money gain.
Spending habits are a key differentiator between consumers and manufacturers. The things that are significant to one individual may not be to another. If we're being completely forthright, we're all somewhere on a scale between being consumers and producers. Some may have characteristics of both sides, but are firmly committed to one.
Let me be clear: I'm not denying the possibility that manufacturers make unnecessary purchases on occasion. They might drive costly cars, go on extravagant vacations, and make unhealthy choices overall. In certain cases, consumers may own their own homes, have stable employment, and be content to live paycheck to paycheck.
This begs the question, why shift to a production mentality? Is there anything you stand to gain by shifting your perspective on how you allocate your time and how much it's worth?
Okay, then let's move on to the monetary details. A more investment-oriented frame of mind would have you constantly looking for ways to boost your cash flow. Rather than waving goodbye to your hard-earned money as it disappears into the horizon on a one-way flight, picture a boomerang that returns to you with dividends. The majority of people, if they were being completely honest, would admit that they could use a little extra dollars at the end of every month. What if, then, you discovered a way to put your money to work for you, rather than the other way around?
How do I do it?
So how do you make a change from a consumer to a producer mindset? Well, if you’re asking yourself that question, you are already starting to change.
Change takes time. Remember, producers are patient. But they set a goal and then work toward it every day. Adopt a new attitude about how you spend your time and money.
Remember, being a producer isn’t about being a millionaire, although that can sometimes be a byproduct. It’s about recognizing real value, living a life of curiosity and having an interest in all that it has to offer. It’s about being part of the game, not just a spectator!
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