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10 Secrets For Developing A Millionaire Mentality

Integrity is the cornerstone to developing a millionaire mentality.

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confident-businessman

As a millionaire, I’ve learned that most people want to know the truth about wealth.

Many people believe that the only way they can become a millionaire is if they marry it, inherit it, or save it. While they have a point, the only people who become millionaires are the ones who earn it.

That’s right, most millionaires aren’t lucky people who randomly found their paths or have been born into it. Instead, they are ordinary people who selected a large goal and worked steadily toward it.

There’s no easy way to become wealthy, but there are many options to earn your fortune. Whether you’re starting a business, developing a high-end career, investing your money, or become a professional entertainer, you must develop a millionaire mentality.

When the mind is ready, the money will come.

No one can achieve wealth by harboring erroneous thoughts. Instead, you must constantly battle the enemy in your mind to find the wealth of your dreams. Moreover, the secret to your wealth is to manifest righteous thoughts and deeds as you accomplish your biggest goals.

Related: 3 Truths Every Millionaire Knows About Money

1. Practice integrity

Many people think they must sacrifice their integrity to become a millionaire. They assume that rich people cheat on their taxes or swindle people to become rich. Actually, it’s the exact opposite. You can only become a millionaire if you practice integrity. Money only comes to those who can be trusted with it.

Integrity is the cornerstone to developing a millionaire mentality. Like a thoroughbred horse galloping past the finish line, only winners with integrity can sustain reasonable speeds for long stretches of time. If you’ve entered the race without integrity, you will fail to win the ultimate trophy of wealth. Practicing integrity is the backbone of truth wealth and prosperity.

Integrity is telling yourself the truth. Honesty is telling other people the truth.

2. Become social

business-man-on-phone

Since the new millennium, social entrepreneurs can make tremendous financial strides by expanding their influence. Oftentimes, fame can be a prerequisite of wealth. Nowadays, you can strategically build a following while attracting a large number of people to your services. Becoming influential can dramatically increase your wealth.

Instead of reaching out to people, you can have people reach out to you. Many influential people are constantly fed opportunities because of the value they’ve added to their fans. Furthermore, you must have the right team with the right strategy if you want to consistently see results in the financial column.

3. Pay the price

A woman walked up to a grand pianist and said, “I’d give anything to do what you do!” His rejoinder was simple, but pungent: “Yes, except 20 years at 8 hours per day.” The key to success is straightforward – pay the price. Those who pay now will be able to play later. Conversely, those who play now will to pay later. Either way, your life demands a payment.

Depending on your desires, you can set the wager of the price you’d like to pay. If you want massive success, you have to pay a massive price. If you want a modicum of success, you have to pay an infinitesimal price. Moreover, becoming a millionaire is a steep price that requires great risks. Those who pay the price by abiding in their daily habits will receive long-lasting success. Are you willing to pay the price?

Everything we do is a reflection of who we are.

Related: The 10 Strangest Secrets About Millionaires

4. Control your mind

Positive-thoughts

If you want to develop a millionaire mentality, you must have complete control of your mind. By feeding your mind with seeds of positivity, you keep the noxious weeds away from infiltrating your mind.

While most people on the internet indulge in miscellaneous information like ‘memes’ and other short-term distractions, you should constantly be seeking new ways to properly entertain, inspire, and educate your mind.

The average person doesn’t know why they do what they do. For instance, a formerly obese woman told me this truth, “I used to eat so much every time I had a bad thought. Little did I know that I was ‘eating away my emotions.'” When you control your thoughts, you master your feelings, which can lead you to take the best actions. Where are your thoughts taking you?

Remember this sequence: Thoughts>>>Feelings>>>Actions.

To change your reality, you must change your mentality.

5. Acquire skills

You need the skills to pay the bills. In our world, many people relish the term ‘jack of all trades, master of none.’ Jacking up a new trade isn’t going to make you rich, but mastering one will. Money only comes to the practitioner of excellence, not the amateur who performs with average ability. If you want to be a millionaire, you must become an expert at what you do.

Challenge yourself by seeking to acquire the necessary skills to achieve your desired wealth. Generally speaking, the richest people on earth have the most skills and are known for their expertise. Here’s a simple guideline: If you’re putting in at least 8 hours per day to intensively craft your skill, your expertise should make you a millionaire within 5 years, assuming your industry has a high-profit margin.

The marketplace is always conditioning ambitious people to become better.

Related: 10 Ways Successful Entrepreneurs Stay Calm

6. Master your language

public-speech

Our level of income is largely determined by our level of communication. However, it can be challenging to cultivate your language when most of the people around you are murdering it. Since we borrow our language from those who haven’t fully appreciated it, we must be conscientious when taking deliberate steps to change it.

Poor speech cannot be hidden. Like bad breath, the person with uneducated speech is usually unaware of his or her problem. Those who are lazy with their language must suffer the repercussions of lost opportunities. Failure to wield your words correctly will keep wealth away from you. Everyone should keep at least a dozen English books in their homes. Personally, I read the dictionary at least ten minutes per day.

Words are the tools that release the heavens of our mind.

7. Follow the truth

An ancient prophet once said, “The truth will set you free.” Fortunately, our results tells us the truth about ourselves. It reveals what we’ve learned, what we’ve done, and how much we’ve served. What are your results saying about you? Whether you like it or not, those results will give you feedback on what you may need to change. The prevailing truth stands the ultimate test of time.

Your wealth is the sum total of your entire contribution to society. Your rewards derive from your level of service to the marketplace. If you don’t like your rewards, find a way use the truth to create better results. If you do like your rewards, use the tonic of truth to reach a higher level of results. Ask this question: How will I deliver more value to more people in less time?

Your rewards are determined by your contribution to society.

8. Never compete

swimming-block

Most people feel like they must compete to stay ahead. However, competing actually keeps you behind. Competition forces you to copy someone else’s style instead of creating your own. Over time, competition will wear you out because you’ll always try to be better than someone else, rather than being yourself After all, if you’re trying to be everyone else, who will be you?

One day, a prospect advised: “We’re shopping around with other companies. We’ll get back to you.” Instead of worrying about if I would get the business or not, I called them back immediately, “Look, if you’re shopping around, I don’t want to work with you.” Startled and perplexed, they asked, “You mean you’re willing to let us go if we check with your competitor?” Within an hour, I closed my biggest deal of my life.

“Competition is a sin.” – John D. Rockefeller

Related: 10 Powerful Habits That Will Make You a Millionaire

9. Respect money

Most people don’t get money simply because they don’t respect it. You often hear people saying, “Money isn’t everything” or “I don’t need the money.” Because they’ve downplayed the value of money, they won’t have much of it. Financial rewards are attracted, not pursued. What are you doing to attract money to your bank?

Money deserves respect. To respect money more closely, you must be diligent in your financial affairs. This means that you’ve developed the following habits: saving money, paying your bills early and willingly, knowing the account balance(s), communicating with your spouse, budgeting, etc. When you respect money, you will be able to have more of it. If you can take care of R10 000, then R100 000 will come your way.

“Those who are faithful with little will be faithful with much.’’ – Ancient Phrase

10. Aim higher

achieving-goals

Earning R10 Million per year is the same as earning R1 Million per year. The difference is in how high you’ve aimed and your degree of intensity toward your goals. If you set goals big enough to break records, win honorary doctorates, and reach the highest tax-bracket, you will most likely to achieve them. How high will you set your goals?

Related: 7 Tips to Becoming a Millionaire

Most people don’t aim high enough because they are caught up in the daily grind of life. They’re too busy running into the trees, instead of retreating to the mountaintop to catch a glimpse of the entire forest. Take a moment to see the bigger picture. Set your goals so high that they scare you. If they don’t scare you, they won’t prepare you!

If you believe in yourself, everyone will believe in you.

To develop a millionaire mentality, you need to constantly dwell on improving yourself on a daily basis. When you find the appropriate solutions, resolve to take action toward your dreams. Always change your approach and seek new ways of becoming the best at what you do. Your biggest goals will stretch you to become more of who you are. See you at the mountaintop.

This article was originally posted here on Entrepreneur.com.

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Self Development

Better Thinking For A Better World

How to think more critically and strategically in a world filled with complexity and rapid change.

Erik Kruger

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positive-thoughts

We take the act of thinking for granted. It is often seen as a skill one is born with and not one that should be cultivated over time.

As the world becomes more complex and more busy, strategic and critical thinking becomes more valuable. Strategic thinking points to the ability to decide how and when to deploy resources to achieve a certain end state.

Below are four areas of focus that will improve your strategic thinking:

1. Making Time For Reflection

Life is busy. Juggling work, friends and family, and the recurring notifications from your phone has become quite a feat. Therefore, it is becoming increasingly important to create space for reflection.

Related: One-Year Milestone: Smart Thinking That Will Ensure Your Start-Up Makes It Past The First Year

Time spent in solitude allows you to reflect and connect the dots. It temporarily takes you out of a world in which you must be reactive to survive and keep up.

My suggestion is to create a SOS (space of solitude) for at least 30 minutes every day. In this time, reflect on what has been working and what has not been working. Meditate on your goals for the future and plan for the actions that will help you get there.

2. Asking Better Questions

Many of us fall into the trap of sequential problem solving. This happens when leaders or organisations simply move from one challenge to the next and the only question they ask is “how do we overcome this challenge?”.

What about the questions like “how did we arrive here?” or “what assumptions are we making here?” or “what does better look like?”

I am not trying to give you a template of questions to ask. Merely prodding you to go beyond challenging the problem but to also challenge the thinking about the problem.

As we deepen our questions, we elevate our thinking.

Do not simply ask more questions. Ask better questions.

3. Seek More Input

Teams are great and often underutilized. How can you use your team’s knowledge, experience, and opinions in a more constructive way?

Well, how about allowing them sufficient time for reflection in solitude but also as a group. How about prompting them to look for the patterns in their environment? How about, as a leader, asking them questions that allow them to really stretch their cognitive abilities?

Even better, empower them to ask those questions themselves.

Related: Disruptive Thinking: A Winning Edge

4. Thinking rules

We often make the same mistakes over and over. Not because we have not learned the lesson but because the context changes. Or excitement gets the better of us.

During your reflection time (hopefully you have noticed the importance of this by now) you can reflect on your past decisions and figure out how you could have made better decision.

Once you have done this start jotting down a few personal rules that will help guide your decision making in the future. A personal guideline I established was that I will wait 24 hours before making any big purchase. Gadgets and golf gear often get the best of me. But simple rules like these help to guide my decision making and prevents me from making mistakes irrespective of context or emotional state.

What is next?

Starting today schedule a daily SOS. Yes, schedule it. Do not leave it to chance.

Think of it as training for your brain. A space where you get to think. Free of distraction and noise. You will be amazed at the clarity that comes from these sessions and how your productivity and effectiveness soars.

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Self Development

Flourishing Through Failure And Finding Fortune

What we mean by business failure is not the entire business failing due to running out of money or not meeting the target for the year.

Tasmin Copley

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business-failure

Is there a way to flourish through failure when it comes to business operations? Is it something that should be encouraged or stand as grounds for dismissal? Or is all of this just nonsense in a world attempting to pursue perfection?

Let’s talk about failure

What we mean by business failure is not the entire business failing due to running out of money or not meeting the target for the year. We’re looking into the business, into those that make it run – its people.

People are imperfect and make mistakes all the time. But rather than brushing something off as a fail or mistake does no justice when it comes to learning from it. And there are different definitions and degrees of failure based on department and responsibility. But when you mess up and fail, you affect more than just your individual performance.

Related: Smart Money For Small Businesses

Here’s why it can be good for business

As frustrating as it is to have to “clean up” after an employee messes up, failure can actually be good for business.

  • Fewer mistakes: Failing means you can learn from it and be less susceptible to failure in that area again in the future. When you fail, you become a lot more aware of your actions than before and critically analyse before you act for fear of messing up again.
  • Relatability: This will never be a perfect world and businesses and people that don’t mess up are an intimidating and alien concept to the rest of us. If the incident affects the entire business, then use that material to tell your “success from failure” story and show everyone that you’re human and that it is possible to come back from it. Failure makes you relatable in the eyes of the public.
  • Humility: In the same breath, you (as a business) learn to be humble in the times you do succeed, as those moments can be fleeting.
  • Focus: Failure brings a newfound focus and determination to work harder and be better. It’s a shock to the system where you’re forced to bounce-back or continue to fail and jeopardise your position in the business.
  • Innovation: And, finally, failure can be good for business when it encourages innovation. You need to innovate and find a way to sort out the problem that’s been created in a way that will also discourage it from happening again.

Finding fortune in failure

The abovementioned benefits, if you will, of failure are in themselves favoured fortune found in failing. But there are things such as intelligent failures, trial and error, and inspiration that are the true game changers when it comes to failing.

Intelligent failure is defined by Sim Sitkin as: “Learning, maximised and accelerated through the act of trial, error and communicating stories.”

These failures are, almost, planned specifically to generate a profitable and successful outcome. At a risk, of course, because you never actually know what the outcome is. Having a business strategy and plan, created with so much detail, gets put to the test where a trial and error system is used to determine what works, what needs to be tweaked, and what needs to be completely discarded and redesigned.

With intelligent failure, it’s what you make of it and where your motivation to fail is to progress. Unlike preventable and unavoidable failures.

Moving forward

But, in the moment, it’s always a bit harder to see the end of a failure’s repercussions. You do need to find a way to move forward though, once you’ve learned a lesson, there’s no point in wasting time dwelling on it. You need to keep moving forward.

Related: Failure Is Not An Option – Or Is It? Your How To On How To

Do what you need to do to better yourself and avoid similar situations in the future. One way to do that is to keep learning and adapting with that knowledge. Invest your time in sales, human resources, management or marketing courses. Whatever it takes to better your skills and encourage your mind to think more strategically and carefully when it comes to doing the job.

Get it into your head now that you will never be able to please everyone. And if you can do your job, own up to your errors, but a the same time provide your solutions, you will remain valuable to the business.

Staying motivated

In order to move forward, you need to find your motivation and keep it going after you fail. And the way you do this is through support.

Every business operates as a team and you don’t have to be in it alone.

Take more calculated risks and try new things to challenge yourself to do better and find innovative solutions. This will keep you focused and motivated to keep pushing through previous disappointments as it will be a new and fun way of doing your job.

Magnify your goals, literally, on the wall or on your desktop. Keep reminding yourself what you’re striving for and understand that even when you do fail, that the goal has yet to be achieved and is still possible if you just put your mind to it.

At the end of the day, failure is whatever you make of it. You can choose to let it discourage you or you can manipulate it to help you grow and make you more resilient. Failure is an opportunity to do better next time and all successful business people fail, they just know how to deal with it.

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Self Development

Want To Feel Empowered? Check Out These 17 Quotes From Successful Entrepreneurs And Leaders

To achieve success, you must constantly feel empowered.

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Mark Cuban

Feel empowered with these 17 quotes from famous leaders and entrepreneurs from around the world

Coco Chanel

With entrepreneurship comes its own set of trials and tribulations. Whether it’s bouncing back from failure or dealing with difficult investors, every stage of the entrepreneurial journey has its challenges. And to be successful, having the endurance to push through the tough times is necessary. Often, feeling empowered and being inspired will help get you there.

Empowerment is a necessity when it comes to building confidence, moving towards your goal and not listening to any discouraging words from others. And while empowerment can come from a variety of places, it has to start from within. As Coco Chanel once said, “My life didn’t please me, so I created my life.”

Barack Obama

Barack Obama

Barack Obama

“The cynics may be the loudest voices – but I promise you, they will accomplish the least.” – Barack Obama

Related: 9 Warren Buffett Quotes That Will Teach You More Than Just Investing

Richard Branson

Richard Branson

Richard Branson

“I’m not the bravest or smartest person, but I’m courageous enough to dream big, challenge myself and take bold risks.” – Richard Branson

Larry Page

Larry Page

Larry Page

“It seems like the world is crumbling out there, but it is actually a great time in your life to get a little crazy, follow your curiosity and be ambitious about it.” – Larry Page

Related: 49 Inspirational Quotes And Mantras To Help You Overcome The Stress Of Running A Business

Coco Chanel

Coco CHanel

Coco Chanel

“My life didn’t please me, so I created my life.” – Coco Chanel

Michelle Obama

Michelle Obama

Michelle Obama

“We need to do a better job of putting ourselves higher on our own ‘to do’ list.” – Michelle Obama

Related: 10 Leadership Quotes From The World’s Most Influential Leaders

Thomas Edison

thomas-edison-invention

Thomas Edison

“If we all did the things we are really capable of doing, we would literally astound ourselves.” – Thomas Edison

Sheryl Sandberg

Sheryl Sandberg

Sheryl Sandberg

“You are not born with a fixed amount of resilience. Like a muscle, you can build it up, draw on it when you need it.” – Sheryl Sandberg

Related: 10 Motivational Quotes from Facebook Genius Mark Zuckerberg

J.K Rowling

jk-rowling

J.K Rowling

“As is a tale, so is life: Not how long it is, but how good it is, is what matters.” – J.K Rowling

Mark Cuban

Mark Cuban

Mark Cuban

“Know your core competencies and focus on being great at them.” – Mark Cuban

Jeff Bezos

jeff-bezos

Jeff Bezos

“In the end, we are our choices. Build yourself a great story.” – Jeff Bezos

Related: 25 Quotes to Inspire Your Entrepreneurial Journey

Martha Stewart

Martha Stewart

Martha Stewart

“Sometimes, I shake if I have to do something that I’ve never done before – maybe not noticeably, but inside. But I’ll do it because I know it’s not an insurmountable task.” – Martha Stewart

Steven Spielberg

steven-spielberg-director

What you need to look at with empowerment

“In your defining moments, do not let your morals be swayed by convenience or expediency. Sticking to your character requires a lot of courage.” – Steven Spielberg

Related: 50 Inspirational Quotes To Help You Achieve Your Goals

Warren Buffett

warren-buffett

Warren Buffett

“Should you find yourself in a chronically leaking boat, energy devoted to changing vessels is likely to be more proactive than energy devoted to patching leaks.” – Warren Buffett

Steve Jobs

Steve Jobs

Steve Jobs

“Your time is limited, so don’t waste it living someone else’s life.” – Steve Jobs

Albert Einstein

albert-einstein

Albert Einstein

“The value of achievement lies in the achieving.” – Albert Einstein

Related: 10 Great Quotes On The Power Of Goals

Barbara Corcoran

barbara-corcoran

Barbara Corcoran

“It’s your game; make up your own rules.” – Barbara Corcoran

This article was originally posted here on Entrepreneur.com.

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