Financial success is not just about hard work; It's also about your way of thinking. Scott Mautz, author of The Mentally Strong Leaderjoined TheStreet to discuss how mental toughness is the key to mastering your finances.
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Full video transcript below:
CONWAY GITTENS: What is the mindset that differentiates financially successful people from financially unsuccessful people?
SCOTT MAUTZ: Yes, it all comes down to this: understanding that you can become mentally stronger. At the heart of this is mental strength. I go back to the 6 core mental muscles: the ability to be confident, have a great sense of resilience, be bold when the time comes to be bold, stay focused on your goals, make good decisions and send positive messages to those around you, even in times of negativity and to stay positive, even in the face of negativity. I've seen it time and time again. And interestingly, in a study I've done many times, I asked 3,000 executives at a time to think about the highest-performing organizations they've ever been a part of that overcame the most obstacles to achieve the most success. financial.
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What were the attributes of those leaders and those organizations at the time. Every time I asked this question, just over 90% of respondents, 3,000 respondents at a time, describe mentally strong leaders, people who are confident and who have people. They stay focused on their goals. They make great decisions. They have a great sense of boldness and strength, all when it comes to financial decisions for the organization. So I really believe that mental strength is the self-leadership superpower of our times, which is the next EQ, it's the next emotional intelligence because EQ is just one part of it. It is leadership, the self-leadership superpower of our times, that can help you manage yourself internally so you can better lead yourself externally, whether financially or even personally at work and in life.
