Do you have the mindset of a millionaire?
You are about to find out.
Let me start off with saying that is not the amount of one million dollars that gives someone a millionaire mindset. That is why people who win the lotto or inherit a large sum of money can still go broke,fail at a business or make incredibly dumb decisions.
The millionaire mindset is a way of thinking. It is unique and special and I would dare to say that the majority of the population do not have this mindset. I have come into contact with about a dozen people who have this mindset (and who are millionaires). It wasn’t until recently that I started seeing similarities in the ways of thinking and doing between these successful people. I was curious to find out if there was a specific way how they go through life that contributed-to and resulted in them being successful.
What I found is the following:
(I will refer to people with the millionaire mindset as MM people.)
The Millionaire Mindset:
Not Scared of Hard Work or Long Hours.
MM people are not scared of hard work. They do not mind waking up and being the first one at their business and the last one to leave. They do not mind coming in on weekends.
To avoid misunderstandings, I am not saying that MM people actually like this. They may very well rather want to be with their families or relaxing at home, but they know that sometimes it takes sacrifice. What must be done must be done.
Knowing There is No Free Lunch.
This ties in with the first point. MM people know that it takes hard work or blood,sweat and tears to be successful. If things happen to go easy and come their way easily, then it is a bonus. They do not rely on things to fall in their lap. They work for success, every step of the way.
Taking Action. Waste Little Time Talking and Spend Time Doing.
No daily meetings. No hours spent in boardrooms. Millionaire mindset people take action. They know what they want and decide fast. They know time is money, and things are not going to happen by themselves. When confronted with a situation and a problem, it is dealt with asap. The longer it lies around, the bigger of a problem it gets.
This is not to say that Millionaire mindset people do not spend time planning. On the contrary. Millionaire mindset people are often the biggest planners I know. Coming up with ideas, new way to do this, other ways to automate that. They mostly do this in their spare time, and when things need to be done, they are done first.
Knowing Strengths and Weaknesses.
People with a millionaire mindset know what their strengths and weaknesses are. They know they are good at certain things, and will admit this openly. Initially I saw this as arrogance, but now I see it as supreme confidence. There is not a doubt in these people’s minds that they are good at what they say they are good at.
On the flip side, these people also know what they are bad at. They will admit this openly too. They will not attempt to do these things (at which they suck) themselves, but will rather outsource the task to someone who is good and pay the price for it.
Not Scared to Spend (Invest).
The millionaire mindset is one of constant opportunity and investment. The MM people will spend thousands if not hundreds of thousands of dollars in the blink of an eye on tools,equipment or whatever else is necessary to make the business grow.
I have seen many business owners who do not want to spend money for tools or equipment. These businesses often do a lousy job, spend much more time than they should on a job, and even get injured because of their foolish unwillingness to spend. (Penny wise,Pound Foolish?)
People with the millionaire mindset will rather take out a loan or work longer hours to be able to buy the best equipment to get the job done. They know that this will pay off in the long run and pay out multiple times the initial investment.
The Little Things Matter.
Even though the MM people may have millions of dollars in the bank, I have noticed that they still care and fuss about the little things. (Sometimes) They will rather go out of their way and drive to another store than pay $5 too much for something. Not because of the $5, but out of principle.
One of the reasons that they think this way, is that they got to where they are by making all the little things count. Lots of little things make a big thing eventually.
Living Below Their Means
MM people live below their means. Indeed they may spend $40 000 on a 2 month holiday, but they will only do this if it is way within their means.
This is the best way to accumulate wealth. Not spending everything you are able to spend, and save or invest the rest.
I would love to hear your view about the above points in a comment below.
30 Sentences for A Millionaire Mindset:
On a related note, I have spent the weekend reading an ebook from Dragos Roua. The book is called ’30 Sentences for a Millionaire Mindset’. I have been wanting to make a post about this concept for a long time now, but Dragos’s book called me to action.
Besides having a 2000 reader strong Personal Development blog, Dragos has had multiple successful online businesses for the last 10 years. He has come into contact with thousands of successful people and gained much wisdom throughout his entrepeneurship journey.
’30 Sentences for a Millionaire Mindset’ is truly an eye-opener. Very inspirational and motivational.The book consists of over 90 pages and revolves around 30 principles that form the millionaire mindset. Each principle is explained in detail in its own chapter.
The best part about the book, is that Dragos has included a crash course in ADD (Assess – Decide – Do) and an assessment booklet. The book is not just something that you passively read. . The idea is that with each of the 30 principles of the millionaire mindset, you assess your current situation and decide what you need to change and do to gain that mindset. (And the success that comes with it). You reflect upon your own life and situation and pin-point the things that you are doing or not doing that are holding you back from being really successful.
’30 Sentences for a Millionaire Mindset’ costs just $27 and is instantly download-able.
I highly recommend it! I am always looking for fantastic resources that can help me improve my mindset. I want to grow, learn and be successful. Drago’s book definitely is one of those resources!
(*Note* : If you wish to purchase a copy through the link below, I will get a commission. It does not change the purchase price for you at all. If you do not wish to purchase the ebook through my link, you can buy it from Dragos himself at Dragosroua.com)
Have a Rockin’ day