Mike Pagan: How to Achieve Mental Wealth

Do you know who is on your support team? According to Mike Pagan, coach and author of Mental Wealth: Unlock Your Potential, Enrich Your Life, the first step to mental wealth is determining who is on your team.

Mental wealth is the bank we can draw from when we are facing challenges in our lives. The most important strategy when creating mental wealth is putting together a support team of people who have our backs no matter what. With the right team behind us, challenges and mistakes will be easier to overcome. Mike explains that the easiest way to figure out who is in that support network is to make a list of names and rank them from one to ten. Only the 8s, 9s, and 10s count when it comes to building mental wealth.

Tune into this week’s episode of Powerful Marketing Tips for a conversation about mental wealth. Learn how to build and strengthen your support network, participate in intentional mindfulness, put yourself first, and work more effectively.

Quotes:

“For me, a lot of my focus is very much on having the right support team around. Over my years of business, when I haven’t had the right people that’s when I’ve made the mistakes or I’ve had the challenges. Having good people around you doesn’t mean you’re not going to make mistakes. It just means you bounce back far more effectively.” (01:16-01:40)
“Isolation…kills creativity and prevents decision-making.” (02:34-02:39)
“For me, it’s not about networking. It’s about understanding the power within our network.” (03:30-03:42)
“Self-care for me is a simple starting block…We have to be number one…If we’re not number one we can’t support others.” (07:38-08:00)
“I don’t want anybody listening to this to go and work harder. I want them to be more effective when they’re working.” (13:52-13:58)
“I just want people to create a list of names of people that they believe are part of their support team, their connections that are good for them. Some of those names will be quite random…It’s who you think is supporting you. Then I want you to score them. Where 1 is a low score, 10 is a high score. And this is totally subjective…Don’t give them a bigger score because you think they might be offended and don’t give them a low score because you want to be mean…If you’ve scored somebody 1 to 3, then you know them, they’re an acquaintance but they haven’t got your back…If you scored somebody a 4 or a 5 then you know them because there is a reason. They might be part of a sport you’re involved in, part of your community, the school your children go to. However, if you are away for a month or two...when you turn up they’ll say, ‘Oh, great to see you again’… they won’t ring you in between but they’ll be very chirpy when they see you, because of the reason. You’ve then got your 5s and 6s. A lot of these people will be your good friends…however, the one thing you’re not comfortable doing with these guys is talking about finances, ideas, goals, big plans. They’re not going to get your intimate vulnerability…then your 8, 9s and 10s. These are the people who you are comfortable saying anything and everything to. They’ve got your confidence, they’ve got your back. If they don’t hear from you for a little while they will pick up the phone and…hold you accountable…When it comes to creating a mental wealth team, it’s only the 8, 9s and 10s that count. Everybody else is noise.” (15:32-18:09)