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Millionaire Thinking
Millionaire thinking despises poverty and turns the whole concept of depravation and need into thoughts and ideas of wealth and affluence. Money permeates their very being. Nothing compares to waking up each day, brimming with energy, anticipating the many enjoyable experiences in store, while your every action generates wealth and abundance.
Millionaires think positively and:
Act like winners in every facet of their being. Quickly and easily focus their energies and talents into achieving their objectives and generating wealth. Commit themselves 100 per cent to the wealth-creation process.
The rich have always fascinated others less well off than themselves. They stand like a race apart; the rest of us expect them to be more educated, have a better start in life, have extraordinary good luck, too. In short, people think that being rich is something that's decided before birth. The rest of us, though we might make a good living, will never aspire to real wealth. Or so we would have ourselves believe! But what of self-made millionaires? Are they just lucky, too, perhaps born to already wealthy parents?
Actually, no! The fact is, the majority of self-made millionaires, including many famous names, were born to poor, sometimes pathetically impoverished parents. And certainly luck played little or no part in their lives. A great many well known self-made millionaires encountered terrific hardships and numerous obstacles along the way. People like Paul Getty, for instance, whose father was born into abject poverty. And Japanese motor magnate Soichiro Honda, whose father ran a small workshop where he repaired farming machinery and bicycles. Not exactly the privileged childhood we might have expected! Here's what Poissant and Godefroy say about the world's most successful self-made men in 'How to Think Like a Millionaire':
"Their childhoods were generally commonplace, often poor, and sometimes miserable. At school many of them were notorious dunces. Yet, each one of them at a crucial moment in their lives decided to take their fate into their own hands, and, enlightened by a book, the advice or example of a friend, or by a powerful sense of intuition, they set out one by one to get rich."
Here we discuss what really matters for wealth creation. Not childhood, not our parents, not cash, not luck! But ambition, enthusiasm, resilience, confidence, persistence and optimism. But how to acquire those characteristics? 'This article provides the answer. But first, what actually distinguishes a millionaire, or billionaire? One thing to bear in mind at the outset, is that opportunity doesn't pay more frequent calls on the rich. They don't wait for luck to come knocking at all. They make their own opportunities. The rich will look for opportunities and challenges while the majority of people continue their everyday existence, waiting for a good job to turn up, anticipating a pools win, waiting for an elderly relative to die and leave everything they own to them. The really successful man or woman waits for none of these things. Instead, they see opportunity where others see nothing. Opportunity is everywhere: it doesn't take a genius to find it.
"There's a lot of room at the top. This symbolic Millionaire's Club has an unlimited number of vacant seats to fill on its membership roster. I'm afraid that if these seats are not filled more quickly, it is because young potential candidates, who are very qualified, give up the fight before it really begins." Paul Getty
So Why Isn't Everybody Rich?
Ironically, the majority of people fear success. And countless people will actively look for reasons to avoid pursuing a course to great wealth. Fear of the unknown, low self-esteem, fear of failure, are common stumbling blocks. Opportunity never knocks twice, or so they say. In fact, opportunity knocks countless times in everyone's life. People who insist opportunity knocks just once are probably ignoring her constant intrusions. Instead they remain loyal to their time-honoured ways, where change is resisted, opportunities dismissed as too risky, until every day is a carbon copy of every other day. Now and forever.
But who really wants a life where today is the same as yesterday and tomorrow and every day for evermore? Leaving things unchanged is safe, and comfortable. But it's never going to make you rich. Change is essential to the creation of wealth; change is essential to enjoyment in life. This section shows you how to change your life for the better and how to attract great wealth. Let us first of all look at some of those excuses we make for refusing change in our lives. Notice, too, how the world's most successful men and women actually welcome change.
The Excuses
I haven't the intelligence or expertise to go it alone. I'm just not educated enough
This is a sign of low self-esteem. Daily declarations help reprogramme the subconscious to reject negative vibes and replace them with their positive counterparts. Ironically, such worries are groundless and very few of the world's most successful men and women had superior intellect, even fewer had above average education.
Listen to what Mark McCormack says in 'What They Don't Teach You At Harvard Business School':
"There is an old tale of two friends who met on the street after not seeing each other for 25 years. One, who had graduated at the top of his class, was now working as an assistant branch manager of the local bank. The other, who had never overwhelmed anyone with his intellect, owned his own company and was now a millionaire several times over. When his banking friend asked him the secret of his success, he said it was really quite simple. 'I have this one product that I buy for two dollars and sell for five dollars', he said. "It's amazing how much money you can make on a 60 per cent mark-up"."(Used here to indicate profit margin).
McCormack deduces: "I do not have an innate prejudice against intellect, intelligence, or, for that matter, graduate degrees, but they are not substitutes for common sense, people sense, or street smarts".
I'm too old. I'm too young
"If only I'd done it years ago, when I was young". The cry of many a person in middle or later life who suddenly finds a talent he didn't know existed. And now, it's too late. Or is it? Exactly why we consider youth so important when it comes to being successful, particularly in business, is something no-one really understands. And almost certainly this popular belief is pure fallacy. In fact, many of the world's most successful men and women didn't begin to make real money until well into their middle years, sometimes later.
Colonel Sanders of Kentucky Chicken fame had no worries about age being a deterrent to business success. According to the Colonel: "At seventy-four, I sold, for the sum of two million dollars, my fried chicken business, which I'd started at the age of sixty-five, when I was getting ready to live out my days on social security."
Ray Kroc was another great believer in age having no power over ambition and goal-setting. "People are always amazed by the fact that I didn't start McDonald's before I was 52 years old, and that I was an overnight success. ...... I did achieve success from one day to the next, that's true, but my 30 years of preparation were like a long, long night!"
Enthusing on the side of youth, Paul Getty made his first million at the tender age of 23. He says: "All of a sudden I realised that I'd covered a lot of ground towards achieving the goal I had set myself, and which I had undertaken in September of 1914. I had established the base for my own business in the American petroleum industry. I wasn't quite 24 years old, but I had become a successful independent petroleum dealer. And I'd made my first million."
Times are hard. No-one makes money these days
This means we have given up the fight before it even begins. Real entrepreneurs don't think this way. In fact, sometimes the bad times are really the best, certainly where business is concerned:
"It seems like the only thing we can count on in the United States is that even during the hardest of recessions, the rich get richer." Lee Iacocca, Chief Executive Officer, Chrysler Corporation
"There is no such thing as bad times, I kept telling myself. Business is there if you go after it." Estee Lauder, founder of the cosmetics empire that bear her name
The Psychic Sins
Psychic sins are the most common reasons for failure to achieve anything in life, be it money, love, satisfactory personal relationships, self-fulfilment or power. They include:
Allowing other people to run and influence our lives
Most people pay far too much attention to what other people think of them, personally, and in the business sense. Too many people are hurt by criticism, even constructive criticism designed to benefit them. To avoid being criticised, they go with the crowd, doing what everyone else does and never venturing from the well-trodden path. Achievers take an altogether different view, sometimes opposing, even flaunting convention.
"Any businessman who goes against popular opinion must expect to be thwarted, scoffed at, and cursed. This is what made my fortune. While I have seldom if ever set out purposely and with malice aforethought to flout convention and demolish icons, I have never felt obligated to do this, that or another thing merely because it was what 'others' are doing." Paul Getty
Blaming luck or fate for their failures
It's easier and more acceptable for the ego to blame fate or bad luck than to admit its mistakes. Mail order is a good example of a business with a high drop out rate among newcomers. Ask anyone who's tried mail order and given up a few weeks later what the main reason was. They'll probably blame fate or bad luck, when in fact they probably haven't really given the business a chance to work. Low funding, poor testing, inadequate product selection, are the most likely causes of mail order's high dropout rate. The person destined to succeed in business will view those early days - and mistakes - as a learning exercise, a lesson on which to build for the future.
Under-estimating their own worth and potential
Without self-respect, ambition and a genuine appreciation of their own worth, most people are unable to overcome everyday problems which the true entrepreneur sees as challenges from which to learn and prosper.
Among the world's richest and most powerful men and women we find most are born into ordinary families, go to ordinary schools, have average intelligence. Very few were born rich. What they do have, without exception, is a belief in themselves and a knowledge that one day they would be wealthy.
American studies of the rich and famous agree on three main characteristics of self-made millionaires, being:
Never doubting that one day they would be rich. Understanding that only positive action could help them achieve their ambitions. An unconditional desire to succeed.
Failure to Set Clear Goals
Without goals to direct us we are lost before our journey begins. Goals are the single most important factor in the wealth-creating process. 'In 'The Lazy Man's Way to Riches', Joe Karbo singles out lack of goals as the most important reason for failure.
Fear - Your Greatest Enemy
Millionaire mentality means living life to the full, grabbing every opportunity that comes your way, and living every day as if it was your last. It involves risk and this is what most people can not accept. Rather than confront fear face-to-face, they give in to it instead. After all, if you don't risk anything, if you don't stretch yourself to the limits, you don't fail. It's far more comfortable that way! But, it won't make you rich!
American writers refer to these chains that prevent us from reaching our full potential as 'bonds of slavery', 'psychological bonds', 'goal alibis', and many other similarly obscure terms. In Britain we know those excuses are nothing more than sheer, unadulterated FEAR. Fear of all sorts of things, mainly of failure, is what accounts for the majority of lost opportunities. We seek comfort in staying as we are, cherishing today's values, hanging on to today's traditions, sticking with the same boring old job we've always done. Eventually we, too, will know the real meaning of that term 'It might have been."
But it needn't be so!
Fear has very profitable side-effects. Instead of allowing worry and fear to drag you off course, multi-millionaire mentality means using fear and the fear of failure as tools from which to grow and prosper.
"The best remedy for fear is action. Nothing is gained by sitting around worrying of what might, or might not be." Paul Getty
"A man without fear succeeds in everything he undertakes." Napoleon Hill, American author."
The best remedy is to set your plans into action, Getty emphasised, you know they will work, your subconscious will make sure they do. Fear is largely the result of the conditioning process, the learning of what is right and wrong. Ironically, it is often our parents who are to blame. Parents want their children to be happy and safe.
Parents are largely responsible for the fear that keeps us from achieving our ambitions, our 'impossible dreams'. 'Pipe dreams', 'living above our station in life', 'expecting too much out of life', 'chasing the impossible dream' - all things we are advised against by our well-meaning parents. Hardly surprising then that few people seek to advance beyond their 'predetermined station' in life. In later life, our fear of failure means we simply give up trying. If we don't try, we don't fail.
"Everybody makes mistakes. Ibuka and I made quite a few. We lost money on the Chromaton process, and we failed with the L-cassette. We also had to unite a number of companies to keep the Beta-max format alive. But the important thing is that these errors are human and natural; in the long run, they did not compromise the future of the company." Akio Morita
Your Right to Be Wealthy
Wealth is all around you. All you need is the confidence to reach out for your share. Believe it or not, you have millionaire mentality, too. All you have to do is eliminate the negative, accentuate the positive, and you are almost there. Set goals, work out timetables, make best use of your time, and work hard to achieve your goals. The secret of wealth and success in just a few words!
Success is Getting What You Want Out of Life
What does success mean to you? You must consider not only the things you want from life but also the sacrifices you must make along the way. Does getting a better job mean having less time to spend with your children? The extra money and other benefits of advancement might seem worthwhile now, but will you regret not seeing your children grow up? Is your partner in agreement with your goals? Might working towards your goals ruin your relationship with your partner?
The Importance of Goals
"This time next year we'll be millionaires". Del Boy 'Only Fools and Horses'.
Without goals, it's unlikely that you'll achieve anything in life - anything good that is. Goals help you decide what you want from life and the means of achieving your aims. They'll also keep you on track towards achieving your objectives by highlighting any deviations from your best route. Now we take a closer look at goals and their relevance to achieving success and wealth. All successful businesses, as millionaires know, depend on the establishment of realistic and achievable objectives. If you don't know where your business is heading, there is every chance you will get lost along the way. As a business man or woman, your most important task is to put aside sufficient time to setting your goals and deciding the best means of achieving them. Once established, goals should be kept in mind at all times. Goals should always be held in the highest esteem and not allowed to fade at the expense of something else which at the time seems more important. Goals can be amended in the light of changing circumstances, but they should always be increased in value, except in exceptional cases. Bear in mind that downgrading goals is generally a sign of low self-esteem. For this reason it is vitally important to only set goals that are both realistic and attainable. That said it's always best to set your goals at a high but achievable level. Generally speaking, people who achieve success:
Know exactly what their goals and objectives are. This seems like a statement of the obvious, but it's not, for not only must you know that you want a better car, luxury house and improved salary, you must also know the exact model of car, locality of house, and the specific salary or profits you want to achieve.
Really successful people keep their goals constantly to the fore. For many, this means placing pictures of the tangible things they want from life in as many places as they are likely to visit during the day: on bedroom walls, on top of the television, on the office notice board, on the fridge, and so on.
Identify and obtain the equipment needed to achieve their goals. Consider what other things are necessary for you to achieve your objectives. These might be physical or intangible items; they might consist of stationery, office furniture, a word processor or computer. Alternatively, you might need extra time or experience before you can operate your business efficiently.
Design a timetable setting targets and completion times. Know exactly what you need to do today, tomorrow, next week, next year. Stick to your timetable and amend it as necessary. But always make changes on an upward trend, as long as your goals remain realistic and achievable. Don't, for instance, commit yourself to 20 extra hours of work a week, if you already have a full time job you want to keep, which leaves you just a few hours to spare each week for pursuing your business. Make sure your timetable fits in with the needs of those around you, your family and work colleagues, for instance.
Listen to what the experts say about goals:
"You direct a garage or a business like you drive a bus. It does its round, stopping to pick people up, but it can't make a long distance trip. Of course you can be happy driving the same route all your life. But I wanted to drive bigger and faster buses, and see other places." Soichiro Honda, Founder of the Honda Motor Company
"If you can dream it, you can do it." Walt Disney
What Kind of Goals? Goals include:
Better relationship with your partner and children More leisure time More holidays More money Get a job you really like Feel in less of a rut Lose weight Be more assertive Get a new car Buy a new house in an exclusive neighbourhood Ask for what you want and know you will get it Learn to dance Achieve a more balanced life Get into politics Earn money in your spare time Write a book Start making a fortune today! How to Set Goals
Goals are simply desires, things you want to achieve. They might be material such as cars and houses; they can be less tangible like self-esteem, respect, power. Whatever form they take, it is important that you take time to analyse your goals. YOU must know exactly what you want before you can hope to turn your goals into realities. And certainly your subconscious can not help you if you yourself do not know what your exact requirements are. Goals should always be put down in writing - on paper or on computer screen - and left where you will see them several times each day. A very useful technique is to make your own treasure board, including pictures of the exact things you want to have. Pictures of the precise car, house, locations of your holidays, and so on, can be cut from newspapers and magazines and pasted onto a piece of stiff board. Framed, and left close to your workspace, this acts as a constant reminder of your goals and serves to keep you on course to achieving them.
Tips to help you establish and achieve your goals:
Draw up a list of goals. Break these down into identifiable steps. If your goal is to make £10,000 in your first year in business, decide how many units of whatever product you must sell to achieve this target. Include all costs of production and begin timetabling everything from sourcing the product to advertising, to selling and fulfilling orders. This is dividing your goals into sub-goals, where your first sub-goal - the first step on your ladder to success - might be to locate the product.
Start now. Work on achieving step one towards your first sub-goal. When that is accomplished, work on step two, and so on. Bodies in motion keep on moving, they say, and it's no different with goals. The first step leads to another, and another, and so on.
Reward yourself as you move closer to your goal. Buy something that will be useful when you reach your goal. A silver keyring for the keys to your new Porsche is a good idea, or a chandelier for your first country mansion.
Role Models To Aspire To
One of the best ways to become rich yourself is to study already wealthy people. Choose a role model, someone you admire, perhaps someone in the business or profession you choose. Study everything they do and ask yourself why they make certain decisions. Learn what you can from them and then set out to better them. In 'How to Think Like a Millionaire', the authors say: "A man sitting on a giant's shoulders sees further than the giant himself", meaning anyone can benefit from the experience of a good role model, even to the point of exceeding that person's success.
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