Wednesday, November 24, 2010

How to Have the Mindset of a Millionaire

© Mark Bond /Dreamstime.com


There are millions of resources on the web, library, and in books that tell you how to make money. You’ve seen the ads: “I made $5000 in one week and so can you?” Many people doubt the validity of these claims. However, the truth of the matter is that making money is not the hard part. The hard part is mastering the thoughts in your mind that say, “This is not possible, you are poor, you will never make it, you can’t accomplish anything this great, you will never succeed.”

Think about all the times you have set out to do something that you felt you were not capable of doing. How long did it take before you quit? Our minds are the powerhouses that allow us to accomplish great, amazing, and unbelievable things. So, in the case of increasing your income or the amount of money you are making, you have to think with the mindset of a money maker.

So, how do you summon the mindset of a millionaire? The first step is proactive thinking.

You have to be a proactive thinker. This is very difficult to master when you have been thinking with the mindset of a reactive thinker all your life. So, let’s start with that. What is a reactive thinker? A reactive thinker reacts instead of responding. So, you are asking, what’s the difference Selena? Here’s an example:

You have set a goal to pay off a credit card this month. The credit card has a balance of $1000. You have been making the minimum payment of $20 on the card for months because that’s all you have to pay…or so your mind tells you that’s all you have to pay. Let’s say you get kind of crazy and say… “I’m gonna put $500 down on this card this payday, and you actually go through with it.” Then, you begin paying your bills and begin thinking, “oh crap, how am I gonna pay all these now? I have put all my money towards the credit card. I am so in trouble. I am so stupid. Why did I think I could do this?”

….and so, the downward spiral continues. This is the mindset of a reactive thinker. It is dominated with fear and worry and reacts with those emotions to adversity and problems. And, it’s always, always, always a downward spiral.

A proactive thinker would say, “I’m gonna pay the $500. Now, how can I create $500 to pay the remainder of bills. Let’s go over my skill set. I have mastered eBay. I am going to spend 1 hour daily searching for deals online. When I find a good one that will allow me to make at least $50 on a product. I will buy the product and resale it. $50 down. What next? The proactive thinker continues to think in a solution-based mindset, approaching problems with confidence in their abilities and the Almighty to aid them as they act on that thinking.

Secondly, the proactive thinker continues to think this way, even when the going gets tough. You can’t say you are going to conquer the universe this morning and by the evening go into a deep depression because things have not went your way today. You must continue to tell yourself you are capable, and you can do it and remind yourself of it daily. Don’t get bogged down in the details and what ifs. Believe it and believe it every day, morning, noon and night.

For me, writing out the goal is also a positive way of thinking in a solution based mindset verses a fear mindset. Here’s how I accomplished the very example above in one month:

-I decided and committed to paying off a credit card with a $1000 balance.

-I got a large poster board that was bright yellow and taped it on a door in my hallway.

-I wrote the figure that I needed to make on the board, tied a marker to a string, and taped this to the board. This is dollar store stuff baby!

Every day, I did something to move one step further in the direction of my goal. It didn’t matter what I did, but I did something.  I sold items on eBay. I sold some crystal glasses to a replacement place in the area that handles china and crystal. I sold gold. Cash for gold! Every time I made money, I wrote it on the board and deducted it from the amount. By the end of the month, I had reached my goal of $1000. That board was a constant reminder to keep my goal and my thinking in motion to a solution.

Finally, you have to realize that proactive thinking is a new habit that you are developing. So, there will be times when you begin to doubt yourself. When you start thinking negatively, stop yourself, tell yourself that is a lie and it is not benefiting you and talk to someone that will build you back up! Do not talk to anyone that will feed your fear! If you cannot find someone positive, then read a motivation book, blog, or better yet, read testimonials on all the financial web sites of people that have done the very thing you are working to achieve. This will fuel your belief. If they can do it, so can I!


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1 comments:

Jared said...

Very good post. I think it is important to stress the importance of avoiding scams too though. The ads that claim to make you $5000/day are often scams. That does not mean however that $5000/day is impossible. You just need to find a way to get there. Everyone has the ability, but tapping that ability is another battle.

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