Millionaire Mindset – The reality
Millionaire Mindset is quite easy to achieve if you do these things i mentioned here, Almost everyone wants to answer to the millionaire’s call but certainly, no one becomes a millionaire by just sitting idle at home watching Cable television with their legs crossed all day long conjuring a mental picture of the luxurious cars they want to drive, the big mansions they want to buy and live in, the exotic vacations they want to embark on in various cities across the world.
But all of these thoughts remains that of a wishful thinker and not that of an individual with a millionaires mindset simply if you fail to understand that the multiple zeros will not just conjure themselves in your bank account while you sit with your fingers crossed doing absolutely nothing. Even if you intend becoming a millionaire with what you do, you don’t just automatically become a millionaire without making sacrifices and understanding the path you want to tread.
A lot of people, especially young and bright minds , have the unrealistic thoughts that millionaires live exotic, stress less, stable lives with zero worries but that is not entirely true because they look all polished, well groomed on the outside. But the reality is that some of these people put in a whole lot of time, energy, and thoughts to actually drive a successful enterprise and they are not as rich as they seem to appear simply because their resources are pulled into pushing their businesses to the point where you envy.
However, a millionaire’s mindset in reality is a total different ball game from what you imagined, it is a clear and well defined way of thinking that requires clearly set goals, swift and well calculated actions towards desired result, risk taking and hard work.
To help you understand what obtains in real life, here’s five reality of a millionaire’s mindset
MORE INVESTMENTS AND LESS SPENDING
Steve Siebold once wrote that ‘while the world –class thinkers understand the importance of saving and investing, they direct their mental energy towards accumulating wealth and solving problems. Having a real mindset is to understand the saving and re-investing culture. In reality as opposed to thoughts and imaginations investments are made every single day, but not without proper and detailed investigations and findings. This means that, it is more appropriate to look before you leap in any business venture. Thus, the seed should be separated from the harvest not for any other reason but for replant that will rake in much more harvest eventually. The seed is your capital which should never be tampered with, and the harvest after subtracting the seed is your profit which you should also not spend entirely on luxuries but essential, so you have to cultivate a saving culture that will shade you on your raining days and which you can also put into other ventures to have a multiple source of income to foster a more stable financial life.
Try to live within your means, buy what you can afford, most especially take care of your needs first and do away with your wants.
NO ANTICIPATED SPENDING
You have a millionaire’s mindset? If you do, you won’t spend what you have not earned or plan based on the resources you have not gotten your hands on. You do not spend simply because you belief that the resources to pay back will come even from a business deal you have not sealed yet? So what then happens when the anticipated profit margins is not actualisable in the long run? This kind of lifestyle only runs you out of business faster than you got in or you think possible.
CONTINUOUS RESEARCH AND LEARNING
Charles F. Kettering once said “Research is nothing but a state of mind, a friendly welcoming attitude towards change, going out to look for a change instead of waiting for it to come Research for practical men is an effort to do things better”.
You constantly need to evolve with ideas and thoughts to drive your goal further, by bringing something new to the table at each point in time to keep you at the top of your game, find out what your competitors are doing at the moment and devise means of surpassing them, this does not just only keep you in business but also ensure that you get paid at the end of the day.
The world is constantly evolving, the business sector is also not left out and in this era of very fast growth you have to keep up to stay in business by ensuring that you have the best people want in terms of services and products because people will only offer you money for a satisfactory service or products. So you have to keep learning something new every single day and do not allow information gathered during research to sit unutilized. Keep information at the top of your mind and ensure that it influences every move and decision you make. Find out the new technologies, services available put them to use and get to work!
FOCUS AND STRATEGY
Allowing distractions to take your mind off your vision will only succeed in ruining you and leave your dream of becoming a millionaire in a vegetative state. Write down your vision clearly and remind yourself everyday what it is, you can even write out a mantra to recite every time to remind you of what you want to be and how far you want to go. Do not get carried away by what people have to say, how many people have failed in the same venture as you and remember to strategies just how you want your vision accomplished. Line up the steps to be taken and take those steps in time, do not forget to carry along your subordinates or team members so that can see it just the way you do and that way you can enjoy the cooperation you need from them to achieve you objective.
GOOD MANAGERIAL SKILLS
A lot of thriving businesses have failed across the world because of poor managerial skills. Failure is deeply rooted in bad management. A vivid example is Compaq, a company founded in 1982, they produced PCs with better graphics, reliability and performance better than all its competitors at a relatively competitive price, they had highly experienced engineers and made huge sales within its first four years but things went sour after twenty years when the company was in a huge debt of almost two billion dollars and was eventually acquired by Hewlett-Packard and it lost the name and fame it built over the years. They could not keep up with the competition and the management could not salvage the situation. It is not enough to start a business but sustainability and staff management is key to having a business venture that can weather the storm.
Quit the day dreaming and get to work, becoming a millionaire requires a huge effort, first is having a clear set goal, another is strategy, focus is also involved and the passion that will drive you through the challenges that will suffice as you progress. Don’t aspire to be the money squandering millionaire who only cares about the luxuries money can buy but aspire to be that millionaire who builds an empire that remains long after he is gone. So strive to leave your name in the sand of time by successfully building an empire that the world can remember you by.