What Is The Millionaire Mindset
Whether you choose to admit it or not, the majority of people would love to be a millionaire. However, most people never achieve Millionaire status because they simply do not have the Millionaire Mindset. Although having the Millionaire Mindset does not guarantee you success, it sure puts you in a much better position to finding financial independence sooner.
So, What Is The Millionaire Mindset?
The Millionaire Mindset is about changing your psychological approach to money, success and happiness.
There is a difference between the ‘Millionaires’ of this world and the so called ‘not so wealthy’ and that is that rich people constantly learn and grow whilst other people think they already know.
Factors And Traits Of The Millionaire Mindset
There are several factors and traits that you need to put into place that will allow you to make more money throughout your lifetime. Yes, there are plenty of ways to make the odd pound or two quite quickly (a list of which can be seen here) but to be able to earn a regular income that will allow you to reduce the number of hours you currently work or that will eventually allow you to quit your existing job, is a little different.
Many people believe that to be wealthy you need to be educated, have a privileged background or upbringing but this couldn’t be further from the truth. Some of the richest people in the world came from humble beginnings and backgrounds and started with nothing. However, the things they did have were the essential traits and mindset that are needed to make more money.
So, what exactly does separate the rich people of society from the poor?
Contrary to believe, we all have a built in ability to make money but throughout our lives we all make mistakes that stop us from actually achieving our goals or becoming wealthy.
One of the biggest differences between very wealthy people and people not so wealthy is having the Millionaires Mindset. Having a Millionaire Mindset is very important from the beginning and if you do not already have it, you will need to adopt it quickly!
There are many factors that make up the Millionaire Mindset and below are several of these factors that you yourself should possess if you want to make serious amount of money.
Adopting The Millionaire Mindset
Control Your Own Destiny: How many times do you hear people saying they can’t do something because of.… and then give a number of excuses as to why they cannot do something. To be successful, you need to abolish any self-doubt and believe you can do and achieve anything. You need to make things happen and take control of creating your own path through life, instead of letting life just take you.
Set Goals: Firstly, you can make your first move by setting a few goals. Yes, it may sound boring but try it and you will be surprised at the results you can achieve.
Make Plans: There is a saying ‘If you fail to plan, you plan to fail’ and if you have goals, you need to plan how you will achieve them. Making plans is an important step in the process of becoming financially independent.
Motivation: Just because you want to earn more money, does not guarantee you will. No one will give you it on a plate and if you want to earn more money, you will have to do just that and EARN IT! Yes, you yourself will have to put the wheels in motion and make things happen.
Be committed: Rich people are committed to being successful and making money. They play the game to win and not to fail. Even if they do fail, they try again and again and again until they succeed.
Failure: Most successful people welcome or have welcomed failure throughout their life. Now this might sound a little strange but they say that in order to succeed they had to fail. They believe that failing in something, only makes you more determined not to fail again. It also allows you not to make silly mistakes again and also makes you appreciate success much more once you achieve it.
Enjoy What You Do: If you enjoy what you do, it will shine through and other people will want to do business with you. They will see your enthusiasm for your product, service or information and will be much more impressed with your knowledge.
Dream Big: In order to make large amounts of money, you need to think and dream big. This allows you to aim higher and will ensure you succeed much more than you would if you had no dreams.
Cease Opportunities: Opportunities are everywhere. Every single day we are all presented with opportunities but sadly, the majority of people are so blinkered they fail to spot these opportunities. Successful people see these opportunities and grab them with both hands.
Listen And Learn: Be prepared to listen and learn new things, especially from people who have already been successful. No matter who you are or how knowledgeable you may be, you can always learn something new.
Manage Your Money Well: Learning to manage your money well is important. There is a saying that “rich people manage their money well whilst poor people mismanage their money well”. Understanding how money works and managing your money so that it is working for you is the first step to becoming financially independent and achieving Financial Freedom.
Be Frugal: If you enjoy spending money, this might hurt you a little but reducing your outgoing so that you are only spending money on the essential items you need is something that you will need to get used to. At the beginning when you are setting up your business, you will need to stick to a strict budget.
Eliminate Debt: This is something that is much easier said than done, especially if you have large debt. However, you can never become financially independent until you are debt free!
Learn To Negotiate: In business you always want to get the best deals possible. The art of negotiation, haggling and bargaining for everything is the key to you making more profit from your business.
Let Your Money Work For You: Learning to make your money work for you is a very important part to becoming wealthy. Rich people have their money work hard for them whilst poor people work hard for their money!
Make your money work for you and not somebody else. Once you begin to make money, do not spend it on silly things such as flash cars but reinvest your money in your business.
Time Management: Make sure you spend your time wisely. To be successful in any venture you will need to put in the hours, especially if you are setting up a business to run alongside your current job. Every spare minute you have can be put to good use working and building your business rather than sat surfing through the TV channels!
Take Action: Put your plans into action. Yes, it is easy to talk a good plan and it is also very easy to read a large amount of literature about something but you need to put all this into practice to make anything happen.
Setting these factors in place sooner rather than later when you are looking at ways on how to make more money will safeguard you from future financial mishaps. Adopting the Millionaire Mindset will set you in good stead to your future success.