Everyone wants to be successful and want to know how millionaires think and become rich. So why is it that, in most cases, this never ends up happening?
A large percentage of people will argue that there are a lot of external factors that prevent them from learning how to be millionaires. However, reality is that the really determining factor is how millionaires think.
In other words, your mental capacity is responsible for whether or not you achieve your financial goals. In fact, learning how to manage your money has a lot to do with the ideas in your head.
As T.Harv Eker stated in his book “The Secrets of the Millionaire Mind”.
“Money is a result, wealth is a result… we live in a world of causes and effects”
Based on this, if your goal is to become rich and achieve financial freedom, you will need to review the ideas you have in your mind and evaluate how much it looks like the millionaires think.
How millionaires think unlike other people
In his book, How Rich People Think, millionaire Steve Siebold set about interviewing more than 1,200 successful people over the past three decades.
Here are the 18 ideas responsible for making these people so rich. The first thing you’ll discover is that becoming a millionaire is not as much about money as it is about your mentality.
1. For millionaires, goals are worth gold
When they have well-defined life goals, professionals are much more productive than those who improvise every day.
Now, one of the ways millionaires think is reflected in the way they approach their goals. For them, these are not just small goals, but priorities that are worth gold, for which they work every day.
2. The future is more important than the present
This actually is a debatable thought from a subjective perspective, since one could easily argue that “living in the moment” is more important than worrying about the future.
However, when you understand how millionaires think, you are more likely to know how to be successful because you have a forward-looking mentality.
Millionaires are not afraid to make short-term sacrifices if it means long-term gain, and are not tempted by momentary pleasures because the future is their priority.
3. Failure is not a bad thing, it’s one more step
The fear of failure is what has prevented majority of individuals from seeking purpose in life.
You work in a position that you don’t like but it’s your only source of income, you have the option to quit and start your own business, you’re even considering cheap franchises, but losing stability frightens you and more knowing you can fail so you never really try.
Failure always represents a possibility, and as a society we must stop discrediting it. To understand how millionaires think is to recognize that failure is a necessary step in the process. An opportunity to learn.
It is more important to know how you handle your plans when things go wrong than when they go well.
4. Opportunities are everywhere
Opportunities come when you least expect them. When you understand how millionaires think, and you get ready, you can find them everywhere, anytime or on the day you least expect them, you’ll be more attentive to them.
With this mentality you will discover more opportunities for yourself and end up giving value to every moment of your life.
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5. Calculating the risks you’re going to take is important
The risks are frightening but without them it is extremely difficult to grow.
Studies suggest that the richest and most successful professionals are those who are not afraid to take a calculated risks.
They go against the current, take risks with an idea that they believe is the best investment and are not afraid to face possible sacrifices.
If you are not taking any risks then you are not on the path to a possible rewarding reward. And of course without these rewards you will never get anywhere.
6. Being consistent is good up to a point
Consistency is a state of mind that is difficult to achieve, but that is really important.
For example, if one of your goals is to accumulate great wealth through investments, you have to invest a certain amount of money each month, otherwise you will lose momentum.
However, there is a point at which being consistent does more harm than good. When it starts to lead you down the wrong path, such as developing a bad habit or unproductive routine.
It’s hard to find the time when these “bad” types of consistencies come up, but you’ll need to keep an eye on them.
7. A millionaire understands that nothing and no one is perfect
Accepting that nothing is perfect helps you in a number of areas, you won’t be as worried about taking risks as before and you won’t hesitate so much to start a new project.
You won’t be so discouraged when something goes wrong. Or when you overlook an imperfection, you won’t find yourself looking for the “perfect” time to launch a product and you won’t abandon your goals just because you didn’t accomplish them as you originally expected.
8. What millionaires think of happiness
Most people think that the rich are dishonest, and most of all, they have a lot of luck. And while the rich know that money cannot buy you happiness, it does make your life more pleasant and easier.
Rich people go out and try to be happy on their own. They do not pretend to show themselves as saviors of the world. They know that you cannot offer welfare if you do not have it.
If you want to be a millionaire and successful you must offer a unique value to the society where you are. It’s not about being selfish. But to offer something that is different, you must first work on yourself, on your skills and define how you plan to differentiate yourself.
To help others, you must first work on how to be a better person.
10. Millionaires have a vision
People who think their best days are over will never be rich and will usually have to “fight hard” and deal with depression.
Those who have built wealth got there because they were willing to believe in themselves and to project their dreams, goals and ideas into the future.
11. Millionaire ideas about work
Most people think rich people work all the time. However, one of the strategies for learning how to be smarter, which the rich have used, is to discover their passion and find a way to get paid for it.
12. What the rich think about investing the money
Rich people know that not having the financial solvency to afford something is not relevant. The important question is, whether it is worth buying, investing or following?
Many think that the reason why they do not reach their financial goals is due to their inability to raise money to invest.
The reality is that, if you have a good idea, persistence and convincing capacity, capital becomes secondary. Remember that the money you have is simply a reflection of the thoughts you have in your mind.
13. The kind of friendships of the rich
The rich have decided not to waste their time with people who do not add value to their lives. The middle class even use this pretext to judge their wealth, and decide to become part of mediocrity instead of improving.
So choose the type of friends that surround you very well, as they can raise or lower you to their level. Never forget that you are the average of the five people you spend most of your time with.
14. The opportunities
People are so busy collecting discount coupons that they have missed out on great opportunities. Even in times of crisis, the rich do not waste time on “promotions”, they are focused on where the “huge money” is.
15. An idea regarding expectations
Pay no attention to the one who tells you that life must be difficult, a constant struggle where you must be content with what you have, and be thankful for it.
Now, don’t let expectations get you excited about people, situations or opportunities. Usually, life’s great disappointments don’t come from others, they come from the ideas you get from them. So focus on the present.
16. Everyday is a new learning opportunity
Enter the home of a millionaire person, one of the first things you’ll encounter is an extensive library, full of books, that they’ve used to educate themselves and be more successful. The middle class prefers their magazines, novels and celebrity magazines.
17. The importance
Wealthy people know that the primary emotions that drive financial markets are fear and greed. This is the reason why they include these factors when making a decision. This is known as emotional intelligence.
The knowledge of human nature and its impact on their decisions gives them an advantage when developing investment strategies.
18. The engagement
Most of the people believe that everything in life is a choice and that you have to choose between one of the options you have. The rich think differently and instead believe that they can have anything they want, as long as they move towards their goal strategically with dedication, hard work and love.
In conclusion, while it’s not easy to apply the way millionaires think about your life, you can start with just one of these ideas.
It’s likely to be difficult for you to accept these ideas. But you can accept the one that you like and slowly integrate them into your life. You’ll begin to make better decisions and form habits that will someday lead you to the success you’ve always dreamed of.
Be patient and never stop moving forward.