Dream Big. All the millionaires I interview have big dreams. They believe that they are worth more than a 9-to-5 job and that there is more to life than working forty (or more) hours a week for forty years only to take a forty percent pay cut once they’ve reach retirement. These big dreamers are also prepared to risk money and time ( reasonable risk) and just go for it. A number of them have even risked the farm a few times. Now don’t get me wrong; I’m not asking you to do this, and I’m not asking you to put all your eggs in one basket and hope. However, you may consider taking a few of those hard-earned bucks and trying something new, maybe just part-time at first. Try building a small business, optioning a stock, or flipping some real estate for cash. You never know, I might be interviewing you next!
Get Out of your Comfort Zone. We all operate within a comfort zone, a specific way of living that we have become used to over time. Unfortunately, these comfort zones often hold us back from what we really want. For years, I believed I was worth about $50,000 a year, and during this time, $50,000 is what I was paid. I didn’t know any better, so I kept working for another person and making less than I deserved. Then, I experienced an awakening and came to believe I was worth $250K a year. I quit my job and started my own business. Well, I did not hit the $250K that first year – but I did earn $245K that year! You must attack your comfort zone. You must get outside of it; push yourself to do things that you don’t like; push yourself to try new things; push your-self to break your poor habits and to discard your limiting beliefs. Push yourself past FEAR! All successful people ac-knowledge the undiscovered planet, the realm of the unknown and unfamiliar. Now, it’s your turn to join the ranks of these successful people.
Work Smart, not Hard. Millionaires tend to work smarter, not harder. Don’t get me wrong; they are still prone to working 16-hour days, but they use their time much more effectively than others. They have a better plan for making money and a better plan for cashing in on their labor. And if they are going to work a sixteen hour day, they want to reap the fruit of their labor personally. Their time is worth way too much to waste on making money for someone else. Here are some intelligent strategies: Invest in real estate. Own a small business. Let your money make money. Invest in stocks. Manage, but do not do. Be unique in the marketplace. Find models and mentors who are successful, and pattern yourself after them. Trade money for time, not time for money!
The Quick and the Dead. One of the major rules for successful people is “Take Action!” While you are sitting their thinking, someone else is taking action. People are starting a new business, taking control of their credit, starting online companies, buying new homes or investing in property, cutting their taxes by 50%. Stop analyzing things to death and make a judgment. It’s time to take fast action.
Take Emotions out of Decisions. Confront FEAR! In our culture, we are taught to weigh both sides of a decision. For the most part, that’s good advice. It only becomes a problem once people get caught up in the weighing. They spend all their time searching for one more piece of information. They review it to death – “Should we? Shouldn’t we?” By the time they make a decision, the opportunity is gone. For most people, there is only one reason why they miss opportunities – FEAR! You might experience fear of loss, fear of failure, or maybe fear of rejection. This fear is holding you back. It is costing you financially and emotionally. In contrast with this mentality, millionaires learn to conquer their fears, to push past them and concentrate on three simple things: first, the investment; second, the return; third, the probability of success. If an investment offers a good return, go for it! Even when you are petrified with fear, you just need to take that first step forward.
Total Commitment Successful people give everything that they have and never say the words, “I tried.” Either they get the result they are looking for or they don’t. They never hold back on a project. It keeps them up late and gets them up early. They work their regular jobs for 40 hours a week and then put in another 20 hours buying real estate or starting a small business-even when they’re tired. Let it not be said of you when you are old and gray that you “missed your dreams because you were watching TV.” All that you need to do is schedule some time for success. This can be as little as eight hours a week to start, Maybe, every Saturday morning or Mon-day night (Well, maybe Tuesday night during football season). Schedule the time and the results will follow.
Mentors. Mentors are worth their weight in gold. Take my word for it; this has been proven time and time again! Mentors will teach you things that you could never learn from a book, a self-study manual, a video, or a website. When I first learned to golf, I already had experience playing hockey, but I found that swinging a golf club as if it was a hockey stick resulted in a terrible slice to the right. I bought every magazine, book, and video on golfing to correct the problem. I was cheap and didn’t want to spend the money for lessons. After much strife, I decided that I was not the problem – it was the clubs! So, I bought new clubs (Fire sticks). Alas, those new clubs merely helped me drive the ball deeper into the trees. Finally, I broke down and bought some lessons and in the very first lesson the problem was corrected! Immediate feedback, a coach, or a mentor can get you on the path to success quickly.
Student of Success. Millionaires never stop learning. They continually study success. They study money, real estate, business, and asset-building. They have a thirst for new knowledge and they are the first to buy tapes, books, and manuals, or to seek further training. Several years ago, I documented purchases of over $81,000 for seminars, training, and self-study materials to improve my education. I couldn’t have gotten to where I am now without this. Continuing education is a key to my success and to that of countless others as well. Invest in yourself first!
Bounce Back Well. Millionaires are by no means exempt from failures. They have losses, but they keep a positive attitude. They tell themselves, “I will get them next time. I just have to work a little harder or smarter to get a better result.” They know that all they need is a better plan and they remember that a flat ball doesn’t bounce – so they keep it pumped up.
Selective Memory. There are no failures, only learning experiences. When successful people swing at a baseball, they do not remember the 66% of the time they miss; they remember the 34% of the time they get hits. They hold their success close and let go of their failures. The problem for most people is that they refuse to forget the last time they failed. It’s no wonder they stop swinging the bat. Selective memory is a key to success.
Don’t Quit. The character of men and women is not measured in the number of their failures but in the number of times they shake off those failures and try again. Ask Sylvester Stallone whose screenplay for Rocky was rejected over 300 times! Ask Edison who made more than 10,000 (no, that’s not a typo – TEN THOUSAND) attempts to invent the light bulb. Ask Lincoln who experienced failure a dozen times as he strove to acquire a political office. Success is just a decision and one step away! Never give up, and you will stay on the path to prosperity.