Secrets of the Millionaire Mind focuses on the mindsets of the rich. And what you can do to acquire that mindset.
Because where thoughts go, money follows.
- Being rich is a mindset: mindset-rich people can create their wealth at will
- Your thoughts are not who you are: change your thoughts and change your life
- You will be paid in direct proportion to the value you deliver
Being rich, as much as being poor, is a mindset. To change your life, including financially, change the way you think. And for good or for worst, explains The Millionaire Mind, a mindset is often passed on from parents to children.
God I can relate to that. I grew in a family where a government job was the ultimate dream.
Internal Locus of Control
Rich people believe they’re in control of their lives and that they can fix things. They don’t complain about the government, society or what’s wrong in the world. They think what they can do to change their conditions.
As The 7 Habits of Highly Effective People say: change start with yourself. Start by focusing on what you can control, and your area of control will automatically expand.
Rich People Think Big
They have an abundance mentality, they think there’s more and more out there, and the only question is how to get it.
And poor people think small. They clip the coupons, try to hold on to the tip, spend hours to save a few cents.
Spend Time With Rich People
Rich people spend time with other people who also have a millionaire mindset.
Play to Win
Millionaires play to win, while poor people play to avoid losing.
Rich people focus on opportunities while poor people focus on obstacles.
Rich people admire other successful people. They want to connect and learn from them. Poor people resent successful people and try to take them down instead of learning from them.
This was a big one for me. I always shied away from self promotion, but the author says that rich people aren’t afraid of selling and promoting themselves.
Focus on Value & Results
Rich people choose to get paid based on results. They know they’ll get paid once they can deliver results and value, so they focus on build product or business systems.
Poor people think in terms of time instead. And they sell their time for money to someone else.
Make Money Work For Them
This is similar to the concept of Rich Dad Poor Dad. Rich people invests in assets that will generate income. And they invest their money in a way that generates more money.
Poor people, exchanging time for money, keep working hard and being enslaved to money.
Learn and Grow
Rich people keep increasing their knowledge because they look for knowledge (read how to develop a growth mindset). Poor people think they know it all.
While poor people focus on buying and spending, rich people focus on investment and, when needed, keeping expenses low. Also read The Millionaire Next Door.
Real Life Applications
Don’t Save for Rainy Days
Save for your financial freedom days! It’s a small mindset shift, but it’s a little golden nugget that can change your perspective for the positive.
Have a Good Cause
If your drive to make money is insecurity, fear or the need to prove yourself, money will never make you happy. Find a better and more empowering alternative to become rich.
Rich Mindset: Spend
To get you into a rich mindset, the author advises you spend money. I am not fully convinced this is a good idea.
There’s a lot of referencing to other products and seminars of the author. I didn’t particularly appreciate that.
I particularly loved the mindset and unconscious mind focus of the Secrets of The Millionaire Mind. It’s similar to what Tony Robbins says, but then it adds tons of good examples and helpful differences between rich and poor mindsets.
Definitely a must read in the self help and get rich literature.