Segment:- Why Mindset is the Real Key: A Millionaire Mind Beats a Million Dollars.

What if money isn’t the starting line, but the scoreboard? We dig into a simple but uncomfortable truth: cash tends to follow the choices we make over and over again, and those choices come from mindset—the “set” of beliefs, skills, and defaults we learned from family, school, mentors, and past work. One of us runs a retail business and admits the sting of capital constraints; the other argues that even with thin resources, the right mental models can rebuild what’s lost and multiply what’s found.

We get practical fast. You’ll hear why mindset is not a single belief but a toolkit, how to unwind unhelpful scripts about risk and pricing, and why people with the same windfall see wildly different outcomes. Then we go head-to-head on go-to-market strategy: start custom and narrow, or apply a one-size process you can repeat across industries? We land on a powerful synthesis—use a repeatable operating system to execute a sharply defined customer thesis. That balance keeps you from chasing “everyone” while avoiding the trap of reinventing execution from scratch.

We also tackle a big question: is entrepreneurship for everyone? The honest answer splits. Not everyone wants the emotional load of running payroll through storms, yet everyone benefits from entrepreneurial literacy and multiple income streams. If you’re not called to be a founder, you can still build wealth through ownership—investing, partnering, or acquiring small stakes that compound quietly over time. Expect direct talk about money as effect, mindset as cause, choosing a real customer with a name and a problem, and widening your portfolio without quitting a job you love.

If this conversation hits a nerve, follow the show, share it with a friend who’s on the fence about starting up, and leave a quick review with your biggest takeaway—we read them all and build future episodes around your feedback.

Chapters

• 0:00 Mindset vs Money Debate
• 0:39 Mindset As Skill And Set
• 2:11 Money As Effect, Not Cause
• 4:33 Custom vs One-Size Business Models
• 7:40 Is Entrepreneurship For Everyone?
• 10:45 Multiple Income And Investing

Transcript

SPEAKER_01: 0:00

Mindset or money, which one is the biggest barrier to businesses? I was a mindset. Okay. Why why? Because you know, anybody can get money. Anybody can get money. But mindset is what maintains it, mindset is what's going to get it. So people like there's a book that I read, uh, The Secrets of a Millionaire Mind by T. H. Ecker. And you're speaking about how there are some billionaires who lose it. I'm sure that if you lost all your money today, you'll be able to get it back. Because it's a money mindset. You can take all of the money away from you, but the skill is still there. And so the mindset, and you see, the thing about mindset is this. It's a mindset. Mindset. Set means a collection of things. I think when people think about mindset, they think about one way of thinking. It's not just one, there's a collection of different things. Because there's a set, like we in school we used to have this thing called a math set. A math set with the set square, the compass, and everything. Because so it's a different set of things. So there are different things in our minds that contribute to our success or our failure. And so most people they haven't dealt with all the different types of sets of minds that they've received from their father, their mother, their school teacher who is who is broke. Your teacher is broke and he's he's teaching you something. I'm not saying there's anything wrong with school, but sometimes they teach you certain mindsets or they teach certain mentalities because a mindset is basically a set of mentalities. They teach you a particular mentality that can contribute to the reason why you are where you are right now. And so mindset is hard because you need to unwind all of those things. You need to find a way to unscrew all of those things before you can you can succeed. And once you have that, even if you lose your money, you're going to get it back. If you are back to rock bottom, you're going to get it back. And so mindset has always been important. Mindset precedes money.

SPEAKER_02: 1:50

So this is contradictory. Seeing as earlier I said you can start a business without money. I mean, earlier, that's what I said. But as somebody who runs a retail shop or a retail business, money has been one of my biggest challenges in business. Because you have the ideas, you have the mindset ready, but you don't have the money to execute. That is really painful as a business owner. So I found money to be a huge stumbling block in my business growth. Yes, even though mindset is important, because the mindset of money is also important. Understanding money, understanding how to utilize money when you have it. Because there are some people who can have$1 million now and nothing changes in their lives because they don't know how to use that$1 million, right? But there's some of us, if we get that$1 million, we will make it work. But yes, so I would say money has been a biggest, one of the biggest challenges for me in business.

SPEAKER_01: 2:52

Yeah. So the thing about mindset is that, for example, if I put a random person in charge of a real estate business and I put maybe Kennedy in Japan, no money, like he has every all his experience, he's gonna win. And it's not because he's probably richer or he's it's just because he has built a different type of mentality. And so you need first of all, in order to be a millionaire, you need to have a millionaire's mindset. If you want to be a billionaire, you have to have a billionaire's mindset. And so what you need to do is that you need to first of all attack the mindset before because money is a result. I don't I don't think people understand, but money is a result of something, so it's money is not money, is the outcome. Money is not the cause, it's like it's an effect, not a cause. And so the the cause of everything is it begins with a mindset. Mindset is not the only thing, but mindset is it's it's always going to precede the effect. So since mindset is the cause and money is the outcome, the word cause or the law of cause and effect, that's what we have. So cause comes with the Latin one as cost, causa means a reason. Effect comes from the Latin one as effective, that means an outcome. So when you're talking about a reason, I'm saying money. So I'm basically saying that a cause is a reason. So mindset is the reason for the outcome, which is money. And so the moment your mindset is wrong, so most people get into many businesses and they feel, feel, feel, feel, feel, and they're wondering why am I failing? Because it's not just about the money. You could have 500,000 CDs and lose it all one day and you're done. But once you have the mindset of multiplying and maintaining, everything changes.

SPEAKER_00: 4:32

Fantastic. So now the next point I have is one size fit all or a custom approach in business. Which one do you think is better when people are starting out?

SPEAKER_01: 4:42

For me, I'm saying a custom approach. Why? Because when you're starting, when you're starting a business, most people are just thinking of everybody all at once. But I believe that you need to start with somebody that you are dealing with. So if you're you're running a you're running a hair business, you're thinking about maybe a modern young lady who wants the hair, or you want something like that. And so for me, I believe that you need to have a customer approach working with a streamlined group of people, somebody in who you are and who you're trying to you're trying to really work with. Listen, tailoring your product for a particular group of people, I feel that's how you need to start.

SPEAKER_02: 5:18

No, Pa, I don't agree with that. Because I believe that the model of starting a business is clear. You have the idea, you execute, you test the idea. So you have the idea, you test the idea, you launch the idea, and then you execute. So you execute on a small scale and then it goes to a larger scale. So the model of business is simple. So once you understand that, in every niche you find yourself, it's a one-size-fits-all. You can do this, you can replicate the system over and over and over to start multiple businesses and it's going to work.

SPEAKER_01: 5:52

I don't quite agree with that. And my my my entire thing is based on this. Custom approach is how anything in this world has ever grown. Nothing ever starts big. You can't just be working one size fits all, just covering everybody into your entire entire business. The reason I'm saying this is this in the Bible. That's okay. Because I'm Christian. When God wanted Christianity to be able to be a widespread religion, because in Mark 16, he says go into all the go into the world and preach the gospel. So that means you're supposed to go to everybody inside the world and go and preach the gospel. But before he got to before that happened, God was only working with the Israelites. He was only working with the Jews. So it was a custom approach before he moved to the one size fits all because he was not working with a group of people called the Gentiles. Instead of working with a group of people called the Jews and the Israelites, he built a tradition with them, he built a custom approach with them. It was like a custom thing. Some of the things in the Bible are just only for the Israelites and later on.

SPEAKER_02: 6:52

Wait, don't you agree that with your experience or your expertise? Because I have expertise in the hair business. But trust me, I can give solid advice to anybody in any industry at all based on the experience that I have running a hair business. Right? So even though you may need, sure, you need to niche down, you need to have a laser focus on your customer, but in scaling or in starting, in launching, or in starting the business, you can't change the model. You need to start in a particular way. There are certain principles that you can't change, certain principles of your customer being the focus, defining your unique selling proposition, pricing right. There are certain things you can't take away from any business model at all.

SPEAKER_00: 7:36

Yes. Do you think if I don't stop you here, I think there's going to be blow. Do you think that entrepreneurship is for everyone?

SPEAKER_02: 7:43

I believe that everybody should have an interest in entrepreneurship. You don't need to be the one selling or running the business, but you should have an interest in entrepreneurship. Sometimes I'm even jealous of the people who have climbed up the corporate ladder. I'm jealous of the resources they have. They get to meet so many amazing people at work just by going to work. They have so many benefits. But after the nine to five, after 60 years, what next? What happens to your life? 60 years is young. What do you do next? If you don't have an interest in entrepreneurship or in maybe having a widened portfolio, a widened investment portfolio, after 60, basically your life is over because you now have to live and rely on your pension, which we all know is not very reliable. So I think entrepreneurship may not be you essentially marketing your business and running your business, but you should have an interest in it. You can partner with people, you can invest in things, but you should definitely have an interest. Because whatever business you are working for, it's also a business. If they hadn't set it up, how would you be able to earn from it? Yes. So I think for everyone. Well, so I think everybody should have an interest in entrepreneurship.

SPEAKER_01: 9:00

So it's for everybody.

SPEAKER_02: 9:01

Yes. I think everyone should have an interest in entrepreneurship.

SPEAKER_01: 9:05

At all. I don't think everybody is wired to be an entrepreneur. I don't think everyone can be an entrepreneur.

SPEAKER_02: 9:10

Maybe you are looking at it as a founder or a CEO. Not everybody is wired to be a CEO or a founder. But entrepreneurship is basically making your money work for you, right? Putting your money somewhere and making it work for you, right? Starting something that works for you. So I believe that everybody should have an interest in making their money work for them. So you think everybody can run a business? Everybody can learn how to run a business.

SPEAKER_01: 9:39

I don't think everybody can run a business. Okay, make your point. I don't think everybody can run a business. How many people in that's why they said entrepreneurship is not for the weak. Not everybody has the mental fortitude to be an entrepreneur at every point in time. Because now, for example, even I didn't want to be an entrepreneur. Why did you become an entrepreneur? Because it's a story that I don't really share, but my parents are both entrepreneurs, have seen us go through struggles just because they decided not to be not to work for somebody else. So when I was little, I used to tell people that. And so I when I was growing up, I was resenting entrepreneurs and resenting running your own business. Why? Because I just felt as though like everybody else, all my friends, the parents are working. Why don't you just go work and just do something like that? And so for me, I really felt as though no, entrepreneurship should not be for everybody. I didn't want to be an entrepreneur. Just that life so happened that I ended up being one. And just because of a few survival things. And I felt like because I also kind of helped my mom do a few things, I feel like I already had the entrepreneurship thing in built inside of me. But it's not for everybody because there are times whereby when you have to pay people and your business is bankrupt. I mean, you look at how they've look at some of the banks that they wiped off in 2017. Look at what are some of the founders up to now. Like some of them are, some of them are miserable, some of them are in jail, some of them. It can happen to anybody.

SPEAKER_02: 11:01

So if you don't think entrepreneurship is for everyone, so you you you think that somebody should entrepreneurship was for everyone who'll be working for whom. Yes, sure. Um you think everybody or those who entrepreneurship is not for, yeah, should stick with their nine to five. Perfectly. But then I also believe that you can't really become rich with one source of income. I I strongly believe that one source of income is not enough to make you a rich man. It's simple. You have to cast a fashion net, not a hook and line. So, in for somebody who wants to be wealthy, maybe I know people have been wealthy from their nine to five, but somebody who is not as fortunate as um the CEO of uh, because I know that some of the CEOs have been really simple cooks. Yes, but some of us who are not as fortunate as them, how do they widen their investment portfolio? Become an investor, not a business owner. Connected Moments Podcast.