Ask anyone, “do you want more money?” and the answer is usually “yes!” More money can mean many things: freedom, fun, adventure, escaping the bills, no more worries, a new BMW. Whatever we want, money is usually the means to get it.
Why don’t we have everything we want? We are definitely smart enough; After all, we have sent a man to the moon, shouldn’t we be able to earn a few thousand dollars extra? We certainly work hard enough: statistics show that Australians work between 40 and 60 hours per week. Americans have just two weeks of annual vacation per year. There is no lack of work ethic here.
So what is stopping us from achieving the wealth we really want?
Is it lack of knowledge? No, there are thousands of books and articles on how to build wealth and there are thousands who have done it before, it is achievable. The answers are there, for anyone to access.
Is it lack of desire? Surely not, as most people express a true desire for more cash and can see the real benefits of building wealth.
The distinction between those who make millions and those who don’t is not about intelligence, drive, work ethic, knowledge, skill, opportunity, or even luck. The difference lies almost entirely in beliefs and attitude. These distinctions boil down to seven basic secrets of what I call the “millionaire mindset.”
Secret # 1: Beliefs About Money
Millionaires have specific beliefs about money and wealth. This is the most fundamental and important aspect of becoming (and staying) a millionaire.
Millionaire beliefs include:
* I deserve to be rich.
* There is more than enough wealth for everyone.
* When I get rich, so do others.
* I get rich adding value to people’s lives. I do this by providing services, knowledge or products that enrich others.
* Creating wealth is enjoyable and fun.
* If I want it, I can achieve it, attract it, own it, enjoy it.
* I am the captain of my own ship.
* I am not alone: In wealth creation, I have many partners who assist me in the design, implementation and management of my products and services. We all benefit from growing wealth.
* Nobody suffers for being rich.
* Wealth provides the opportunity to help others.
* I am very grateful for everything I already have in my life.
* I am on this planet to enjoy my life.
* I am already rich beyond measure.
How many of those beliefs do you share with millionaires? Chances are, if you don’t have all the wealth you want, it’s because you may have some limiting beliefs about yourself and money.
We develop our beliefs about money primarily from our family and our first experiences with money. Do you remember your first conscious thought about money? Was it positive? Very often, our experiences with money are negative or unsupportive, associated with guilt, guilt, fear, jealousy, and all sorts of low-level emotional states.
Culturally we are also bombarded with messages about money. Have you heard of these?
* Money does not grow on trees.
* Money is the root of evil.
* It is easier for a camel to go through the eye of a needle than for a rich man to go through the gates of heaven.
* The meek will inherit the earth.
* There is virtue in poverty.
When you think about it, these maxims are of no help if you want to grow wealth. If you subscribe to these beliefs, your ambitions will be in constant conflict with your underlying notions about wealth. The result? In stagnation. You cannot cultivate wealth in these conditions.
Secret No. 2: Reasons to accumulate wealth: the carrot and the stick
Millionaires have very specific and compelling reasons why they build wealth. These reasons keep them focused on their goals. These may include a desire to experience freedom of choice, provide a solid education for your children, help out their favorite charity, eliminate personal debt, ensure a secure future for themselves, or just have fun.
Regardless of the details of the “why” they want to build wealth, all the reasons fall into two distinct categories. These are the ‘Carrots’ and the ‘Sticks’. Both ‘carrots’ and ‘sticks’ are essential components of the millionaire mindset.
The ‘carrots’ are the juicy incentive. Like the horse that has the carrot suspended in front of him to keep him trotting, aiming for the delicious treat, millionaires have ‘carrots’ too. These can be a new Jaguar, a beach house, trips abroad, a stylish wardrobe, a solid educational background for your children, the ability to donate to your favorite charity, a sense of freedom, a sense of adventure, the freedom of choice. The reasons are tangible and esoteric. Basically the most important thing is that the ‘carrots’ feel good.
The ‘sticks’ are the painful reminder of what they don’t want. My aunt, who is now very wealthy, says the main reason she worked so hard for financial independence is that she never wanted to experience the poverty of her childhood again. It was such a painful experience that it served as a whip, a ‘stick’, to fuel his wealth-building activities. Other wealth-building “sticks” might be the pain of crushing debt, the fear of retirement without sufficient funds, the worry of wondering where the next meal will come from.
Anthony Robbins claims that people will do more to avoid pain than to obtain pleasure. This is a key observation in developing the millionaire mindset. To carry out plans for wealth creation, the millionaire-in-training needs to have both ‘carrots’ and ‘sticks’. The sticks keep the feet on fire, they keep the consciousness of pain as an incentive to keep trying, to keep working the plan. However, ‘carrots’ provide inspiration, joy, and rewards. The ‘horse’ of wealth moves much more effectively if it has both ‘carrots’ and ‘sticks’ to cheer it on.
One last word on ‘sticks’. If you have too many, your life is filled with fear: fear of poverty, fear of debt, fear of an insufficiently funded retirement. This is not a way of leading a life and certainly a very eager way to approach the development of wealth. Some ‘sticks’ are a good way to start and then focus more on your ‘carrots’. Not only are they much more fun to think about, but they will make the wealth building process that much more enjoyable and enjoyable.
Secret No. # 3: it’s not about the money
Every rich person knows that creating a fortune is never about money itself. However, it is about what money can do. Money enables experiences that bring pleasure. Ultimately, building wealth is about feeling good, nothing more and nothing less. Can you feel good without accumulating wealth? Absolutely! That is why a rich person feels good, feels “rich” regardless of the balance in their bank account. For the wealthy person, the accumulation of wealth is a process that is only as pleasant as the results.
Rich people are not obsessed with results or balance. Wealthy people focus on the process of adding value to their clients, to their colleagues, to their employees, to their field of work. They know that when adding value, the laws of reciprocity dictate that value returns to them in the end. This way they can feel good at any time. Creating wealth is as much about serving others as it is about feeling good in your own life.
Secret No. # 4: awareness is a key skill for wealth creation
Those who create and attract wealth have a greater sense of themselves. They are keenly aware of what could be holding back their personal growth, including personal efficacy, limiting beliefs, low-level emotional patterns, and a lack of knowledge or skill. They take active steps to remove obstacles to their success.
Those with a millionaire mindset are also very sensitive to their surroundings. They surround themselves with people who support them and assist them in their goals. They hire coaches, select mentors, and pay the best consultants they can afford. They avoid negative, pessimistic, or caustic people in some way. They design inspiring environments that remind them of their personal vision and reflect their individual values. Everything around them is a reflection of who they are deep down and resonates with their vision of themselves already possessing the wealth they desire.
Secret No. 5: focus reveals opportunities
Along with heightened awareness, the focus on key priorities works like a giant spotlight – opportunities are revealed by powerful, focused light. Without clear focus, these same opportunities may continue to exist, but because consciousness is unfocused, the individual may not necessarily notice them.
Secret # 6: Repeat the little steps
Having concentration and greater awareness is not enough to get rich. Inspired and deliberate action is required to create results. Wealthy people take measured steps to create their results. They know that one action is better than none and that small steps in the moment lead to significant results over time.
Secret # 7: Connect to joy, in the moment.
True wealth comes in the experience of joy, in the moment. In fact, this is a choice brought about by the awareness of our connection to all of humanity, the entire universe. When we feel integrated and part of the great experience of life, we can relax and savor the experience of the moment, now. Thus, a great sense of peace allows joy, happiness, and ultimately wealth and prosperity to flow.
So how do you create wealth?
This is the question people always ask first when they want to get out of poverty and earn more money. In fact, it should be the last question to answer. You can’t attract wealth if you don’t have the right beliefs, reasons, focus, awareness, and attitude. Any financial project will fail without these elements in place first.
With that warning out of the way, how do you build wealth?
The simple answer is that there are a multitude of methods and strategies. You can use one or more. These include:
* A traditional trading company
* Invest in stocks, managed funds, bonds, etc.
* Investment in properties
* An online business.
What we know for sure is that there are very few ‘jobs’ that pay an extraordinary salary that translates into massive wealth. Business and investing are really the key to wealth that doesn’t depend on you actually showing up to provide a service.
How do you get started on the technical side of wealth creation?
First of all, choose the strategy that you like. If you are a technophobic, then maybe an online business is not for you. If you like to make and decorate your home, perhaps real estate investing is something you need to do. Whatever you choose, you have to enjoy it and make it fun!
There are many good resources available to teach you the basics of investing, building a business, and more. Don’t feel like you have to do it alone! Get advice, get help, get a coach, get a mentor. Educate yourself: read, read, read. Then take action: small steps, of course!
As a starting point, here are some great resources for you:
Rich Dad Poor Dad – Robert Kiyosaki
Cash Flow Quadrant – Robert Kiyosaki
The Myth of E Revisited – Michael Gerber
You Were Born Rich – Bob Proctor
The Millionaire in One Minute – Mark Victor Hansen
Think and Grow Rich – Napoleon Hill
There are many more books, links and articles on my website http://www.innercompass.com.au to help guide you in the right direction.
Now go and prosper!
I wish you a life of love, laughter, joy, health and prosperity.
Best wishes
Copyright 2006 Zoë Herbert Routh, Inner Compass