At The College Investor, it has been proven over and over that side businesses can turn into huge businesses and that college students can earn money while still in school. There are, of course, limiting factors like time that can hold someone back from earning more money.
However, if time is not a limiting factor for you and you’re still struggling to earn more money you need to dig a bit deeper. Whether you’re working a day job or struggling to get your side business off the ground, one of these mental barriers could be the problem.
Here are five things that may be preventing you from earning more money.
1. You Compare Yourself to Others
There’s nothing more crippling than comparing yourself to others and feeling like you don’t measure up. Trust me. I’ve been there. Done that.
What I can tell you is that if you stop paying attention to what others do and instead put more effort into what you should be doing, you’ll see amazing results.
There’s always going to be someone who’s better than you. That’s a fact. Push it out of your head and focus on yourself instead of everyone else.
2. You’re Afraid of Failure
The fear of failure ties in closely with comparing yourself to others. You’re afraid of what it will feel like to put a ton of effort into something only to see your idea crash and burn.
The fear of failure is real. There’s always a possibility that you could fail at whatever you’re attempting to do. There’s also a chance that you’ll succeed.
If nobody ever asked for a raise, worked harder, or started a business because they were afraid to fail the world would be nothing. Nobody likes to fail but those who accept the fact that failure is inevitable recognize that it is also a learning experience.
I think one of my favorite quotes pretty much sums this up “If you’re not failing, you’re not trying hard enough.”
3. You Fail to Launch
Then there are some of us who have amazing ideas but get caught up on the details and are victims of the failure to launch syndrome.
The hardest part about starting anything is just getting started. If this is one of the problems that’s keeping you from earning more money map out a plan and go one step at a time.
Once you take that first step everything will start to fall into place and you’ll be able to gain momentum. Force yourself to get started. In a year from now you’ll be so happy that you did.
4. You Don’t Take Responsibility
At one time or another I’m sure we’ve all blamed someone or something else as the reason why we can’t earn more money. “The economy is bad.” “I don’t have enough money to start a business.” “My boss will never give me a raise.”
I’ve certainly done this a time or two.
The problem is that placing blame does absolutely nothing for you. There are plenty of opportunities out there, you just have to be willing to take a chance and go for it.
5. You’re Afraid of Success
Just like some people are afraid of failure others are afraid of success.
You’re afraid of what people with think about you if you earn more money. You’re afraid of getting a promotion and being in the spotlight.
Personally, I’ve never experienced the fear of success so I turned to a psychology website to see what this was all about. Apparently there are some people who feel extreme anxiety at the thought of success just like those who have the fear of failure.
You Can Earn More Money
If it’s a mental barrier that’s keeping you from earning more money, pinpoint it and work to overcome it.
There are opportunities everywhere you just have to identify them and take action. Whether working a day job or working on your own business it’s definitely possible to earn more money if you lose the excuses and just go for it.
Are any of these five excuses holding you back from earning more money?