Jul 9, 2012

The Millionaire Mindset by Diggy

I came accross this article via twitter (@godesay) sent to me by S Hassan @selfhelp77  Hope it will help you.

The Millionaire Mindset:
Not Scared of Hard Work or Long Hours.

People with a Mindset of Millionaires are not scared of hard work.
They do not mind waking up and being the first one at their business and the last one to leave. They do not mind coming in on weekends.

To avoid misunderstandings, I am not saying that people with a Mindset of Millionaires actually like this. They may very well rather want to be with their families or relaxing at home, but they know that sometimes it takes sacrifice. What must be done must be done.

Knowing There is No Free Lunch.

This ties in with the first point. People with a Mindset of Millionaires know that it takes hard work or blood,sweat and tears to be successful. If things happen to go easy and come their way easily, then it is a bonus. They do not rely on things to fall in their lap. They work for success, every step of the way.

Taking Action. Waste Little Time Talking and Spend Time Doing.

No daily meetings. No hours spent in boardrooms. Millionaire mindset people take action. They know what they want and decide fast. They know time is money, and things are not going to happen by themselves. When confronted with a situation and a problem, it is dealt with asap. The longer it lies around, the bigger of a problem it gets.

This is not to say that Millionaire mindset people do not spend time planning. On the contrary. Millionaire mindset people are often the biggest planners I know. Coming up with ideas, new way to do this, other ways to automate that. They mostly do this in their spare time, and when things need to be done, they are done first.

Knowing Strengths and Weaknesses.

People with a mindset of millionaires know what their strengths and weaknesses are. They know they are good at certain things, and will admit this openly. Initially I saw this as arrogance, but now I see it as supreme confidence. There is not a doubt in these people’s minds that they are good at what they say they are good at.

On the flip side, these people also know what they are bad at. They will admit this openly too. They will not attempt to do these things (at which they suck) themselves, but will rather outsource the task to someone who is good and pay the price for it.

Not Scared to Spend (Invest).

The mindset of millionaires person is one of constant opportunity and investment. The MM people will spend thousands if not hundreds of thousands of dollars in the blink of an eye on tools,equipment or whatever else is necessary to make the business grow.

I have seen many business owners who do not want to spend money for tools or equipment. These businesses often do a lousy job, spend much more time than they should on a job, and even get injured because of their foolish unwillingness to spend. (Penny wise,Pound Foolish?)

People with the millionaire mindset will rather take out a loan or work longer hours to be able to buy the best equipment to get the job done. They know that this will pay off in the long run and pay out multiple times the initial investment.

The Little Things Matter.

Even though the MM people may have millions of dollars in the bank, I have noticed that they still care and fuss about the little things. (Sometimes) They will rather go out of their way and drive to another store than pay $5 too much for something. Not because of the $5, but out of principle.

One of the reasons that they think this way, is that they got to where they are by making all the little things count. Lots of little things make a big thing eventually.

Living Below Their Means

Mindset of Millionaires people live below their means. Indeed they may spend $40 000 on a 2 month holiday, but they will only do this if it is way within their means.

This is the best way to accumulate wealth. Not spending everything you are able to spend, and save or invest the rest.

Source: http://successinpersonaldevelopment.com/