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How to Develop a Money Mindset - Page 6

I started a print newsletter. I accepted numerous speaking engagements, and, following another Abraham principle, focused more on collecting names and addresses than on what I was being paid. I hired a publicist for a PR campaign, which resulted in six TV appearances, three radio interviews, and four newspaper articles. Then I started two new groups, one of which failed miserably. The other group was a $5 drop-in support group for singles (several colleagues found it highly amusing that someone with a Ph.D. would work for $5), which started slowly but grew quickly, becoming the catalyst for numerous word-of-mouth referrals. It ultimately led to the formation of a closed weekly therapy group and a new workshop that's generated more than $80,000 to date.

I created a primitive website on my own, for free, but then realized that if I was serious about the Internet, I needed a more professional look. So I hired a web design firm (www.relationship-institute.com) to build a website for $4,000. I paid for all of this from my expanded caseload. Every two years, I've paid for more business training, including a yearlong personal mentoring program with Abraham in 2001. While I never did take the chimney sweep's advice and get a $100,000 business loan, I did get a $25,000 small-business line of credit, which I've used to fund some of my business training.

I took the huge—and difficult—step of hiring an office manager. Letting go of control and spending even more money was a double whammy. But with the time I saved, I could devote more attention to marketing the practice and expanding the website. Interestingly, I found support and inspiration from reading business books. I learned that almost every successful business person has suffered a massive failure or two—a concept that served me very well when I lost $10,000 in one day because I'd scheduled a huge event for September 11, 2001.

As my group practice income increased, I had an inspiration: if I got even one great idea from a business-training session, it would almost always result in an annual increase in income of 10 percent or more, which would be worth tens of thousands of dollars to me over the course of my career. As a result of this insight, by 2002, spending money on my practice had finally become a low-stress no-brainer for me. In 2003, I began to study Internet marketing extensively, and found it to be a highly targeted, efficient way to attract new clients, and much more cost effective than many other forms of marketing.

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