Monday, June 13, 2011

The Millionaire Mindset

I read a great blog post on Yahoo! Finance. The blog post was entitled, Don’t Worry, Be Wealthy: Easiest Time Ever to Make Millions, Author Siebold Says. I'm copying the last portion of the blog post here because I think it's important for business owners to keep this in mind at all times. Some of the statements refer to employees instead of business owners but some business owners still have an employee mindset. (i.e., The owners run their companies as lifestyle companies instead of viable, sustainable entities wholly separate from themselves.) Notice the point about finding problems that are profitable to solve. Isn't that what the successful businesses do? Solve others' problems? The bolded items are from the blogger, not mine.


The Millionaire Mindset

There are key differences between the way rich people look at money and the way the rest of us do, according to Siebold:

  • Wealthy people look at money in positive terms and as an opportunity, where as most of us live in fear of being laid off or not having enough money for retirement.
  • Instead of worrying about running out of money, soon to be millionaires are thinking how to make more money. World-class performers are finding problems that are profitable to solve. They know that just because a solution hasn't been discovered yet doesn't mean it doesn't exist.
  • Millionaires tend to move towards what they want, rather than move away from what they don't want, which is what the masses most often do.
  • World-class thinkers have the guts to be optimistic right now in these shaky times and reject the middle-class cynicism that plagues the masses. It's not comfortable for a millionaire in the making to forge ahead when everyone around him or her is negative, cynical and unsupportive, yet the great ones push forward and are rewarded with riches for the rest of their lives.

Siebold's bottom line: "Take inventory of your consciousness and the way you think about money and ask yourself: Is this the way a rich person thinks or someone in the middle class thinks about money?"

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