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.
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
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.
4. Control your mind
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.
6. Master your language
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
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
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
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.
3 Wonderfully Uncommon Reasons To Form Better Habits
As we race away into 2018, consider these very personal and fundamental bonuses to making and sticking to your resolutions.
Eat healthier. Exercise more. Be more productive. Read faster. Be friendlier. Sleep better.
Welcome to the New Year, a time when people set resolutions to form better habits and lead better lives.
Understandably, a lot of the articles, videos and other resources about starting off the New Year focus on which habits are best and the steps you need to take to achieve them. They outline the goals, plans and actions we need to make our resolutions a reality.
If you’re looking for 10 tips on how to lose 100 pounds in 90 days, then this article isn’t for you. Instead, why not consider some of the underlying and lesser-talked about benefits of kicking bad habits and forming better ones this year.
1. Challenging your norms
Why is it that you sneak sweets and junk food so often? How come you’re always so tired in the morning? Why can’t you get your butt to the gym?
If your answer for poor habits is “That’s just the way I am/the way things are” then you’re probably underestimating yourself. Stop. Think about your actions and why you’ve taken them perpetually over time. You might learn a lot.
Take personal finance advisor and entrepreneur Ramit Sethi for example. When he stopped to analyse himself and why he wasn’t going to the gym, he realised something simple that he’d never considered previously: His closet was in a different room, separate from his bedroom. Instead of getting up in the cold to put on clothes, it was easier to just stay in bed.
“Once I realised this, I folded my clothes and shoes the night before. When I woke up the next morning, I would roll over and see my gym clothes sitting on the floor. The result? My gym attendance soared by over 300%.”
Forming a new habit is your chance to examine your life — or at least one important aspect of it — and figure out why you’ve been making the decisions that lead to the habits you want or need to change.
2. Taking control
We don’t have to be the sum of randomised actions and results, based simply on moral and civil codes. It’s up to each one of us individually to take control of our actions and maximise the results.
It’s the same in business. There’s nothing you do without careful research and consideration in order to maximise productivity, profits, etc.
You’re your own boss. You control your thoughts and actions; these things aren’t up to chance. Having the ability to make significant changes to your life is empowering, so long as you seize the opportunity.
Take control. Be the entrepreneur of yourself, 100 percent.
3. Achieving clearer self-awareness
Some people say it takes only 21 days to form a new habit. Others say that just isn’t true. However long it takes, habit formation is a personal journey; one that requires desire, motivation, dedication, perseverance and change.
Habit formation takes you out of your comfort zone, to a place of self-discovery. If you’re getting into shape, how far can you push yourself physically? If you’re trying to eat better, how much temptation can you withstand?
Figure out what was required to succeed or why it was that you failed. Either way, you can obtain a clearer sense of your personal limits and, hopefully, how to achieve your goals — and sustain them — within your constraints.
As Benjamin Franklin said, “Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.” Not only to the world, but to yourself as well.
This article was originally posted here on Entrepreneur.com.
How To Build A Disruptive Attitude
What does it mean to navigate a disruptive world and succeed in a market – place that is changing faster than it’s ever changed before?
What do you need to know to be a success? What resources and support do you need? How do you need to feel and think to be a success in a disrupted world?
According to Malcolm Gladwell, who spoke at the 2017 BCX Disrupt Summit, you need three key things to succeed in a disrupted world: Resources, knowledge and the right attitude.
The First step towards innovation and disruption is your mind. Your attitude.
For Gladwell, Malcolm McLean is the single biggest disruptor of the 20th century, in that he implemented containerised shipping. Without this fundamental shift in the way we ship cargo, the modern, connected world as we know it today would not exist.
Crucially, McLean did not invent containerised shipping, but no one had been able to make it work before a trucker from Ohio came along, and got irritated by how long he had to wait at the docks to offload his cargo (roughly 24 hours).
But McLean had an idea and he presented it at a conference of maritime shippers in Amsterdam. They laughed him off the stage. Normally, when we are treated with this type of derision, we get discouraged and give up. McLean didn’t do that. He possessed a fundamental trait that all entrepreneurs need: He didn’t require the approval of others to do what he believed was right. Entrepreneurs are open, creative, and see solutions to problems that others don’t; they are also — crucially — highly conscientious, which means they follow through on an idea in a detailed, disciplined way.
This is rare. You get creative people, and conscientious people, but it’s not easy to find both traits in the same person. Add to that the third trait of disagreeableness, in that they do not have to follow established norms, and you have a real game-changer.
McLean didn’t look at the problem as a shipper did. He came from an entirely new angle, and not only found a way to make containerised shipping possible, but affordable too.
Ikea is a similar example. In a nutshell, Ikea is furniture shipped flat from Poland. Ingvar Kamprad pursued outsourcing on an aggressive level, had an extraordinary amount of creativity in solving problems, and was very conscientious. Consider how difficult it would have been to build a world-class manufacturing plant in Poland in 1961. The country was a post-WW2 mess, in the grip of Soviet Russia, known for shoddy workmanship and actively hostile to free enterprise.
And then Kamprad waltzed in from Sweden and pulled off the impossible because of his single-minded grit and attention to detail. He is the epitome of conscientiousness and obsessiveness.
Now consider Steve Jobs.
By the 1970s, Xerox was the most important tech company in the world. They were the richest, most innovative and profitable company, and they invested in a state-of-the-art R&D centre and filled it with 100 of the most brilliant computer scientists from around the world, and told them to be brilliant.
And they were. As per Xerox’s request, they reinvented the office. They invented the laser printer, the world’s first word processing programme, interfaces — and the list continues.
And then a 23-year-old Steve Jobs visited the centre. At that stage, his company was making traditional kit computers out of a garage. He was blown away by what he saw at Xerox Park and all the incredible things they were doing — particularly when he was shown the mouse and interface the Xerox team had developed for personal computers. He immediately saw how icons and a mouse changed everything. This was the future of computing.
Leading the charge
Here’s why Apple is the world’s biggest tech company four decades later, and Xerox is not: While the Xerox team understood they had changed computing forever, there was no urgency to be the first to market.
Jobs left that day, immediately told his team to stop what they were doing, because it would soon be obsolete anyway, and started working on a new product based on what Xerox had developed.
His team told him he was nuts — they’d spent millions on what they were doing. Jobs said it didn’t matter. It was obsolete. He didn’t have more resources. He didn’t have smarter guys. He didn’t even have a wiser and better vision.
But he was in a hurry. And he was able to execute on his vision.
If you can get your mindset right, you can gather the resources and knowledge that you need to be successful. Learn as much as you can. Be open to new ideas. And if something is soon going to be obsolete, walk away. Find the next big thing. Because you’re either being disrupted, or you’re the disruptor. Which would you like to be?
Time Is The Ultimate Success, Not Money
Don’t use your time to make more money, use your money to make more time.
Why do we work so much? I know the answer is “money,” but why? Yes, we need to cover our cost of living – your true basics like food, clothes and shelter. But after that, what are we working for?
The short answer is luxury. We want to get our hands on some luxury.
For some, that’s cars, watches, boats and all of the other flashy things we see scrolling through Instagram. For others, it’s art or travel. Everyone has their own definition of luxury.
But that shouldn’t be the reason for our lifetime of toil. It should be for time. You see, time is the true measure of success – the real currency of an entrepreneur.
We work our lives away to buy objects of luxury instead of enjoying the luxury of our time on earth. We should be yearning for free time to do what we want, not what we must. We should want time to do the things we like, not the things we dislike. Forget the desk job. Forget cleaning the house. Forget mowing the lawn or cooking dinner. If you don’t like it, the luxury of having extra money should eliminate it from your life.
This isn’t a rant promoting unadulterated laziness. I’m a firm believer in work, especially deep work in your creative pursuits and hard labour in your physical pursuits. I’m also a firm believer in not doing what you hate.
For my own creative enjoyment, I enjoy writing – both words and code. That’s my deep work, and no matter how much money I have, I’ll never outsource that. In the physical world, I enjoy lifting weights, fighting and doing yard work. Those are things that I won’t be cutting down anytime soon. Since I enjoy those things, my time isn’t better spent eliminating them from my life. But certain aspects of them can certainly go.
I love weight training, but I hate planning my workouts. It takes me too long to figure it all out. Thankfully, that’s a problem that money solved in my life. I have an amazing trainer who sets it all up for me, giving me my time back. I love writing, but I hate publishing my work. Thankfully, you can hire a content manager (or team) to handle that. Prime examples of money buying my ultimate luxury – time. Time that can be better spent doing things that either make me more money, which I can use to unlock more free time, or that I enjoy, like reading or hanging out on a beach with my family.
Maybe I want to tighten up my Jiu Jitsu game. Maybe I want to create a cool bonsai tree. Maybe I want to learn to play chess or learn a some new tech that could advance me in the professional world. Maybe I just want to sit on my ass and read or play a video game or watch some mindless tv for an hour every now and again. These are things that we work for.
Freedom versus the slavery of materialism
Only after you’ve unlocked your free time is it even worth pursuing the material. Fancy cars aren’t my style, so why would I waste money that could be used unlocking my freedom, on a cool car? Unless you truly enjoy driving cars (which I do,) washing cars (which I don’t,) fixing cars (meh) and everything else that comes along with it, you’re spending your time to make money to buy something you don’t truly love. That’s backwards.
Love to travel, but only get one week long vacation a year? Go somewhere for a month or two. When you’re not working a full-time job, you’ll have the time to explore new ways of making a living if you want more months like that.
Do you really love exotic cars and want a Ferrari, but you’re just settling on the Mercedes? Take that money, buy some more time, and spend it building a business that makes you the money instead of your boss. Instead of that Benz, put that money into buying more time. That’s now what defines you as successful.
This article was originally posted here on Entrepreneur.com.
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