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The Millionaire's Mentality
A friend of mine was given a million pounds ($1.4m)
this week. He isn't a millionaire though. For the last
three years he has been Managing Director of a small
company owned by a very rich man. The very rich man is
a millionaire 250 times over and his wealth is growing
faster than he can count it.
My friend's million is his share of the proceeds from
the sale of the company. His boss was made an offer
which he viewed as a good return on his investment. So
he sold out. My friend got his million and lost his
job.
Now, a millionaire would say "What a great opportunity!
How can I use my capital to build a real fortune?"
Instead, my friend has started looking for another job.
At 43-years old he can't imagine life without a 'proper
job.' He is an institutionalized employee.
Being a millionaire, isn't really about having a
million pounds or dollars - you need to have a
millionaire's mentality.
What is that magical mindset, and how does it differ
from the way regular 9-5 folk think?
John Paul Getty said it:
"Luck, knowledge and arduous work - especially arduous
work - are all necessarily for a man to become a
millionaire. But above all that, he needs what can be
called the 'millionaire mentality': that essential
state of mind and conscience which mobilizes the
intelligence and all the talents of an individual to
accomplish his tasks and realize the goals he has set
for himself in business."
The only thing I would disagree with the great J.P. on
is 'arduous work.' Sure, to get anywhere you need to
work hard, but if you love what you are doing, it is
hardly arduous. I prefer to think of 'smart work.'
Keep an open mind.
-----------------
True millionaires see the world slightly differently.
Their minds are open to opportunities. A good example
of this alternative way of thinking is Richard Branson,
the boss of Virgin Airlines. The story goes that he had
taken a bunch of journalists to LA for his inaugural
flight to that city. After a pleasant few days in a top
hotel, the journos were all in the lobby waiting for a
limo to take them back to the airport. One young woman
went up to Branson and asked him the following
question:
"Richard, I don't want to be a hack all my life, what
is the secret to making money?"
Branson looked around and said, "Just keep your eyes
open and the answer jumps right at you. Look at those
outdoor heaters the hotel has around the pool, for
example. I've never seen them before, and with the
English weather the way it is, I'd bet they would sell
like hot cakes at home. Find out who makes them and see
if you can get the UK distribution rights."
Out of interest, the woman checked it out and was told
she could buy the rights for $3,000. She didn't bother.
Last year, the company that did buy those rights was
sold for $25m.
Goals
-----
Goals are the roadmap to our success. With a good map
we get to our destination with the minimum of fuss.
Without one, we flounder and get lost.
Every millionaire - whether they have the money yet or
not - is goal-focused.
Whatever process you use to set yourself goals, this is
one aspect of success that you should never stint on.
The simplest method - and one which works well for me -
is to have a 'goal moment.' Fifteen minutes set aside
each week to focus your mind on your life's 'most
desires results.'
On a sheet of paper, landscape (I use a yellow legal
pad), make four column headings:
* 1. Goals for the next five years
* 2. Goals for the coming year
* 3. Goals for the coming month
* 4. Goals for the coming
week
Starting in column 1, write down all your long-term
objectives. Write them in detail. So, you wouldn't put
'move to a bigger house', you would put, 'I now live in
a five-bedroom, four-bathroom house set in 10 acres of
woodland, with a detached double garage, an indoor
swimming pool and my own gymnasium.'
Make it as real as possible, and make it present tense.
Do the same for every aspect of your life or business
you want to change in the long term.
Then move on to the one-year column. Do the same thing,
but this time, try to make sure that your one-year
goals don't conflict with your 5-year plan.
So, to continue the above example, you wouldn't have a
ten-bedroom house in 25 acres in the one-year plan. But
you might have a four-bedroom house in the smart part
of town.
The one-month goals should be things that you need to
achieve in the short to medium term in order to make
the longer term things happen. They might include
concrete business objectives or self-improvement plans.
The weekly goals are all the things that you are going
to do in the coming week to make the monthly goals a
reality.
Be aware as you write all these things down that this
is not a vague wish list. It is a contract with
yourself. Each week, when you rewrite the whole thing
out again (this is a really important part of it), sign
and date the bottom of the page.
What does all this goal-setting do for you? It give
you:
Focus
-----
Real millionaires, and millionaires-in-waiting have the
ability to focus on achieving their goals to the
exclusion of all else.
They simply do not allow themselves to become
distracted.
Regular folk are like butterflies. They skip from one
good idea to another, attracted by the next big promise
or clever sales line. Then they complain that none of
the schemes they try ever work.
It isn't the scheme, it is the schemer. People who
reach the top in any endeavor do so by staying focused
on their prime objective.
Estee Lauder said, "First comes the shy wish. Then you
must have the heart to have the dream. Then, you work.
And work."
And Dale Carnegie, who knew a thing or two, said,
"Condition yourself to determine clearly in your mind
the goal that you want to achieve, and then, without
letting yourself get sidetracked, head straight for
your ideal."
Self Belief
-----------
Nobody ever got rich by thinking that they couldn't.
Absolute self-confidence is a vital part of the real
millionaire mentality.
Everyone has nagging doubts the whole time, it is part
of being human. True achievers know how to conquer
negative thoughts and smother them with ever more
positive ones.
Ray Kroc, the founder of McDonald's, had a great
technique. Whenever he had negative thoughts, he would
imagine himself writing them out in detail on a
blackboard. Then he would visualize an imaginary hand
wiping the board clean.
He was reprogramming his sub-conscious to concentrate
on the positive things and not focus on the negatives.
As Walt Disney said, "If you can dream it, you can do
it." That applies just as much to the bad things you
can dream as the good. So why make the bad things come
true?
So, you may ask, am I a millionaire? I believe I have
the millionaire's mentality. As for getting the cash,
no problem. It is on my list.
About the Author
Martin Avis publishes a free weekly newsletter:
BizE-Zine - your unfair advantage in Internet
marketing, business and personal success.
To subscribe, and get 6 great free gifts, please visit
http://www.BizE-zine.com
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