In May 2005, Forbes magazine reported that there were were 691 billionaires in the world. 1400 people across the world turn into millionaires every day. Why is it that some people achieve this status and others don’t. Are there common characteristics that millionaires have? The big plus in attaining financial independence is the ability to do business in the way that you choose.
How can you become one of these people? What kind of life, and business, do you want to run?
We all have the potential for greatness BUT what do we need to do to achieve it?
1. Successful businesspeople don’t make excuses for bad outcomes or blame others. They reflect on the outcome and have the ability to learn from their own mistakes but also, as important, what did they do well. In the Richard Robbins Masters Edge program, the Post Reflection stage is one area that I personally think is great. Check out his website http://www.richardrobbins.com/
2. The Successful mindset for a Millionaire is a clear vision of what the goal looks like. They make their goals and then they set in action what is needed to achieve them. They review their goals on a regular basis and ensure that they are still on the correct path.
3. They sense a good idea and they go for it. They are not afraid of failure. I look at Jim Basillie and his pursuit of an NHL Team in Hamilton. Whether you agreed with him or not, nobody can argue that he had a vision! He continued toward the goal…
4. They remain focused on their CORE business. Although, inspired by ideas, they always remain true to their overall goal.
5. They understand the importance of learning and drawing from other people’s experiences. They are constantly thinking about new ideas and how they can apply it to their own business.
6. They are not afraid of trying and then reviewing what they have done right! You learn what works. I was interested in a column in the Kitchener Record by Golf Professional Dave Smallwood. June 18, 2009 “I’m an upbeat, positive, silver-lining kind of guy, just like most golfers I know. Given that, answer me this: Why do golfers, even normally upbeat men and women, insist on over analyzing their bad shots while spending so little time on the feel and mechanics of their well-executed ones?”
I’ve had countless golfers out for lessons and, typically, they don’t respond with much positive emotion to their well-hit iron shots. But throw one bad shot into the mix — maybe a little unintended fade — and all they can think of is, “What did I just do wrong?” Here’s the funny thing: I believe strongly that we can learn more from our good shots than our bad ones.”
I had the opportunity to take a golf lesson with Dave a couple of weeks ago and true to form, I analyzed everything I did wrong (and that was lots) but failed to analyze what I was doing right until he pointed it out to me. Made a big difference in how I practice…not that my golf game has improved much, still working on that part, but I am not as hard on myself and spending more quality time during practice.
7. They know that no man stands alone, especially the successful. Take courses, attend seminars, hone your abilities. Model your behaviors after successful people. Read books. Personally a few that I love are Stephen R. Covey, “the 7 Habits of Highly Successful People; Brian Tracey “Eat that Frog” and Jim Loehr and Tony Schwartz “The Power of Full Engagement”.
You cannot be an expert in every field. You need a great team to rely on! To conclude with a quote from the George S. Clason’s “THE RICHEST MAN IN BABYLON”, “The Fifth Cure …Make of thy dwelling a profitable investment…..Thus comes many blessings to the man who owneth his own house. And greatly will it reduce his cost of living, making available more of his earnings for pleasures and the gratification of his desires. This, then, is the fifth cure for a lean purse: Own thy own home”.
What are you doing to get the Millionaire Mentality?
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