Have you ever wondered if there is certain factor that makes the difference between being in the middle class and being a millionaire? Between the millionaires and the billionaires?
I did. I am going to tell you what I believe to be the biggest factor in attaining wealth. It’s something that I had to learn myself.
After deciding to pursue Internet marketing, I struggled for a few years, working with other peoples’ marketing systems. Then, when I’d learned enough about the business, I started to create and market my own information products. But I still struggled to make it pay.
There were some bright points, like my first $500-dollar day. I thought how great it would be to do that every day … $3,000 a week! But there’s no way I could have built MOBE into the multi-million dollar company that it is today by earning myself $500 dollars a day.
So, what was the factor that could push my success to higher and higher levels?
Wealth Starts with Mindset
Some people hear or read the word “mindset” and mentally tune out. But mindset is everything when it comes to wealth or anything you will ever succeed at. The life you’re living today is the product of your mindset up to now.
So, what is mindset? It’s:
- The conclusions you’ve made about yourself or the world, based on what you’ve experienced.
- The statements and opinions of other people that you’ve agreed with.
We’re not always aware we’re making them, but those agreements and conclusions determine “what is and what will be” in our lives.
We have different mindsets about different topics, including money and wealth. Someone who was raised in a household where there wasn’t much money might have concluded that he couldn’t have money. It’s scarce. If his parents expressed opinions about money or wealthy people (“Nobody needs that much money,” “Millionaires are dishonest crooks,” etc.), he may have gone into agreement with those opinions. Someone with that mindset may have a difficult time attaining wealth.
On the other hand, someone from a wealthy family may come away with different conclusions. He may see that people have money. He may know kind, good people who are wealthy. Lack of money is never an issue. He may have an easier time attaining wealth.
But it isn’t their parents’ wealth or lack of it that sets them up to be wealthy or poor; it’s their mindset about it. This is proven by the number of millionaires and billionaires who came from humble beginnings.
The Mindset of the Millionaire
In his book, Secrets of the Millionaire Mind, author T. Harv Eker isolated 17 aspects of mindset that differentiate the wealthy from the poor or middle class. I could probably talk for an hour on each of the 17 points but I am going to just talk about this one:
Rich people think big.
Sounds simplistic, right? Like, “Just think about having piles of money.” But that isn’t what it means.
Thinking big means thinking in terms of how many people you reach with your product or service. For an example, who do you think is wealthier: The man who owns a taxi service in a town or the owners of Uber? I would have to say the owners of Uber, because they provide a service to people around the the world. The one-city taxi services a much smaller group of people.
That’s a dramatic example so let’s look at a different angle.
The Value of Your Work
In your business, do you want to service a handful of clients or do you want your phone ringing constantly with new clients and more work? What that’s really asking is: Do you want to play a big game with bigger pay or a small game with smaller pay?
People get a little shook up when it’s suggested that they think big. It triggers fear. They’ve reached a certain place in life or with their business and they want to maintain it. “Thinking big” equals “possibility of failure, of losing what they have. Or, even more so, they are afraid of succeeding.
At the same time, it isn’t only about making money.
Eker emphasizes that thinking big is about adding value to more people’s lives. Whether you’re a gardener, a cook, an Internet marketer, or salesperson, what you do has value to people. If you can solve their problem, make their goals more attainable, put a smile on their face, etc., you bring value to their life. When you look at it in that light, it becomes a lot bigger than “what I do to make money.”
So, the game isn’t really about bigger or smaller pay but about how much help and value you are willing to spread around. The natural result of helping more people is that you are enriched—mentally and in other ways, including financially.
A Little Bigger and a Little Bigger
You might find that you’re not comfortable with a making a huge mental leap. Or you discover that when you attempt to think big, you get instead those conclusions and agreements you made earlier in life.
That’s okay. Instead of jumping in to “big,” you can start thinking a certain degree bigger. Maybe it’s one new client each month this year or something along those lines.
Whether you’re just getting started in business or want more success for your existing business, find a degree of success or expansion you’re comfortable with and work to reach it. Then think bigger again and work to reach that new level.
As you do this, you will increase your confidence in your ability to think big and it will become a very healthy and productive habit.
So, that’s mindset and “thinking big.” Work with it. It’s key to your success.
There are other aspects of mindset that Eker covers in Secrets of the Millionaire Mind, which I recommend to anyone seeking to improve their financial life.