The Millionaire Mindset

Do you have a millionaire mindset? Ok, maybe you don't want a million or think that's too high a goal. That's ok. The purpose of this article is to get you thinking about the way you think about money.

Here are some facts about millionaires from researcher Thomas Stanley of the Millionaire Next Door and the Millionaire Mind:

Millionaires say that the foundation of their financial success is to be in integrity 'being honest with all people; practicing discipline/self-control; having social skills and the ability to get along with people; hard work 'more than most people; and a supportive spouse. Well, you might not have the supportive spouse right now, but don't worry, you can control the other four factors and reach financial success.

1/3 of millionaires are business owners or entrepreneurs. They have courage to take financial risk but are not gamblers. The kind of risk they take is related to choices of their occupation or vocation. Being self employed has the risk of no employer backing you up and if you fail to deliver what the market demands, you may be out of business. Just the same, those with millionaire mindsets think it is risky not to be self-employed. And I agree! Being self-employed allows you to be in control of your own destiny. Profits are your own and there is no one stopping you from making as much as you'd like.

Millionaires focus on success, not failure. They practice believing in themselves and persistent attention to their work. The words of Napoleon Hill "Think and Grow Rich" are still true today. They develop an understanding of their strengths and limitations and hire others to do the things they are not best at. They have an abundance of common sense. And here's a key point 'they choose work that they love.

Financially independent people have no difficulty focusing on their goals and working at high levels of productivity because they love their work and are excited by it every day. They know their chosen work allows them to fully use their strengths; they get self-esteem from their work and they are absolutely certain that their work will make them financially independent one day. Now, please note that many millionaires had several other jobs before finding their ideal one. And you probably will too. One of my mentors was fired from his first five jobs before finding his passion and fortune in real estate!

The rich find a great idea, often something they are passionate about, they assemble a great team of people, follow advice and hang out with people who are already where they want to be and they never let anyone steal their dream. Most people will scoff at your desire to be financially free because they don't believe they can achieve this for themselves. Don't let them. Don't even tell them. Just surround yourself with those who are already where you want to be and share your dream with only those who you know will support you and see the vision of your dream with you.

If being self employed, working from home and being financially free is your dream, stay tuned for the next article on "Great Home Based Businesses." I'm walking out the door now of Starbucks, where I've worked this afternoon, taking my own advice 'I'm on my way to a real estate investors club. I've built a six figure business and am now ready to generate more passive revenue (more on that topic in a later issue), and I've chosen real estate investing as the way to do this. So, I'm on my way to learning new things I have a passion for, putting persistent actions into place, meeting people who are already where I want to be and getting support!