WARNING: If You Suffer From This, You May Never Get Wealthy

By: Dan Kennedy on: December 6th, 2014 3 Comments

The opposite of wealth attraction is wealth inhibition.(Tweet this!)

Many people are so wealth-inhibited they never even think in terms of getting wealthy.

Their thoughts are limited to buying a lottery ticket or fantasizing about some unknown and unexpected fortune being left to them in a will.

But having said that, a lot of people do seriously try to figure out how to convert their knowledge, ability, time, energy, and effort into real wealth.

Unfortunately, the majority of the people in this second group never get traction, never get going, never get wealthy because they suffer from wealth inhibition.

Inhibition affects all sorts of things you do or don’t do, such as what you’ll charge or who you are prepared to ask for money.

I’ve spent a ton of time working closely with entrepreneurs who have collectively produced 1 Billion dollars worth of revenue thanks to promotions I’ve had a hand in.

I’ve also spent a ton of time working with people in sales. Both those who identify themselves as sales people as well as those who don’t identify themselves as sales people but have careers as dentists, psychologists and so on.

I’ve made a point to be observant of what attracts wealth to some and not others. Two things are true that reflect wealth inhibition about members of both groups.

One has to do with price. Most fear discussion of price, fear raising prices, are paranoid about pricing higher than their competitors.

I have to work long and hard to get these people to raise their prices or fees far beyond present levels, industry norms, or competitors’ prices, in order to charge what their service or expertise is really worth.

I can give numerous examples where I’ve forced fee and price increases of 200% to 2,000% with absolutely no adverse impact. This shows just how far under priced a lot of people are!

In these cases, this is not a practical issue. This is a business person’s own wealth inhibitions and fears getting in the way.

A second area has to do with pulling the punch when closing the sale. The primary requirement to quote fees such as $215,000 for a membership fee to a private residence club, $70,000 to a dental patient, or in my case $100,000 to $150,000 or more plus royalties to complete a project has little to do with prowess in your field and everything to do with your ability to keep a straight face and voice free of stammer when quoting the fee.

The tendency is for voice tremors with the temptation to discount without ever being asked, out of fear, wealth inhibition, and presumption. In short, to pull the punch.

I have a corporate client in fire alarm sales. If you will, imagine the salesperson who goes into a person’s home to sell a fire alarm. Armed with his sales materials, upon entering the home he discovers the family he is calling on is in relative poverty, at least by his standards. He observes worn carpet and beat-up furniture that is falling apart. He can clearly see the people aren’t doing well.

Conversationally he discovers that Papa hasn’t worked in months and the kid’s got some kind of problem that causes lots of medical bills.

The salesperson becomes increasingly queasy about closing these people. In many cases, he will not close the sale. He will subconsciously pull his punches, accept the first objection easily. Or he’ll consciously, deliberately throw the game at the end and toss that one aside and get out of there.

This is an analogy to the way everybody behaves in all sorts of situations, if operating from a belief of limited wealth. 

I can also give you examples where people are mad because you try to think and make decisions for them. In one case, my friend Glenn Turner was chased down the street by somebody because Glenn made the assumption that the person couldn’t afford the sewing machine he was selling and felt they shouldn’t go in to debt to buy it. The husband caught up with him down the street and called him on it, saying, “How dare you think for me? I’ve got a right to buy that thing for my wife if I want to.”

The queasiness about price, about who somebody is selling to, about their ability to pay, their ability to afford it are all deadly telltales that you suffer from wealth inhibition.

And whether you take their money for what you are selling or somebody else takes it, be it the liquor store, the church, the cell phone company, I promise you somebody is getting their money.

The truth is anytime you start to make decisions for other people, it really reflects more about what’s going on internally with you than it does with anything else.

If you want your wealth attraction glowing and functioning at full power, you can’t have queasiness. You can’t have any reluctance. You can’t charge less than what you are worth and have a problem with raising your prices. You can’t have any inhibition. You can’t ever pull a punch.

In a bigger sense, you have to understand that your wealth is an addition for you but a subtraction for no one. And that whatever a person has or doesn’t have, whatever the state of economic affairs in the world, it has nothing to do with how much wealth you accumulate.

Unless and until you rid yourself of these inhibitions and buy this premise hook, line, and sinker, you will always suffer from wealth inhibition.

The good news is once you identify the things sabotaging you, understand how money moves, and get your mindset right, you can change your wealth inhibition to wealth attraction. If you’d like to know how to rid yourself of wealth inhibition and instead magnetically attract money–you can discover more about my secrets that I finally divulged about wealth attraction secrets here.

By the way, ignoring this message could result in you constantly spinning your wheels in your business…and in life. I highly encourage you to take a moment now to read my important message about wealth attraction.

P.S. – Get “The 10 Rules to Transforming Your Small Business into an Infinitely More Powerful Direct Response Marketing Business” for FREE. Click here to claim your customer-getting, sales-boosting tactics.

 

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    ABOUT THE AUTHOR:

    Dan Kennedy is internationally recognized as the 'Millionaire Maker,' helping people in just about every category of business turn their ideas into fortunes. Dan's "No B.S." approach is refreshing amidst a world of small business marketing hype and enriches those who act on his advice. For more money-making marketing tips, tactics and strategies, go to www.GKIC.com

    3 Responses

    1. David Hunter says:

      I was in the “wealth inhibited” boat.

      I remember when I first started… I wanted to start doing coaching and consulting, but didn’t know what to charge, and I didn’t know how to ask someone for money.

      I looked all over the web about pricing, what to say, etc. And, it seemed, everyone had a different answer.

      So, I decided, screw it! I’m doing it the David Hunter way. I picked a price, got the confidence to say my price when a prospect asked, and… to my utter amazement… started getting clients! Plus, these were all prospects who contacted me! And, the best part… I get to choose WHO I do business with.

      It’s that FEAR that stops people in their tracks. I say, test different prices and see where it goes. You can always raise prices.

      And, I love what you said, “…whether you take their money for what you are selling or somebody else takes it, be it the liquor store, the church, the cell phone company, I promise you somebody is getting their money.”

    2. Hi Dan,

      Great article!

      I can admit that I used to be influenced by the disease of wealth inhibition. Basically, this disease influenced just about everything that I did in life and every decision I made at the start of my business.

      However, after listening to you a while now and some other mentors of mine, I have gradually released the tight grip that I had on wealth inhibition and quickly made a firm tight grip on wealth attraction and am enjoying the benefits of it.

      Thank you for this!

    3. Glenn says:

      Good advise,

      I have to admit to being ready to drop my prices if the potential customer asked. I need to realize my time and services are worth at least what I’m asking if not more.

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