If there’s one thing I want you to take away from this guide it’s that you have everything you need inside you to be incredibly successful, happy and wealthy, it's this. The mindset of a wealthy and happy person which is also the key difference between rich people and poor people.
It’s right there, tucked into the crevices of your brain. By tapping the incredible power of positive thinking, visualization, self-confidence, and strong interpersonal relations, you can literally explode your opportunities in any niche.
But, what does that super successful you look like?
What mindset does the ultra confident businessperson take to work each day and how do you tap into that mindset in every aspect of your life so that you not only feel better about yourself, but continue to strive for improvement constantly?
So let's dive deep into what is the mindset of a wealthy and happy person.
1. The Root of Wealth.
If you still think that wealth is directly related to how much time you spend working, it’s time to rethink your outlook.
Wealth is not a measure of how much you do, but of how creatively you use your time.
Someone could spend their entire life selling donuts at a corner coffee shop, making $50,000 a year of take home income.
He works 10 hours a day, 6 days a week and is able to pay his mortgage.
But, if that same man created a marketing plan that set his donuts aside from others, then franchised the rights to make his donuts and maintained a 15% stake in every franchise he sold, he would be making $500,000 a year within 5 years and could probably work half as many hours.
He’s working less and yet making more money.
How did he do it?
He had a big dream of working less, making more money, and growing his business’s reach.
He then leveraged the time of other people to create more donut shops and built a strong presence in dozens of markets instead of just one.
Wealth doesn’t sprout from thin air. You’ll need to do hard work to get it and you will need to take some risks.
But, honestly, I’d rather take a handful of risks and work my backside off for a few years so that I can enjoy the rest of my life in comfort, pursuing my passions than wondering what “might have been”.
2. People With Wealthy Mindset Believe in Investing and Reinvesting.
A big part of that long term success is recognizing opportunities to reinvest the money you make into your business and generate new streams of income.
Our donut shop owner probably wouldn’t be able to franchise without first spending a lot of money on a marketing plan, a new store front, and a marketing campaign to reach potential franchise owners at trade shows and in publications.
He also probably spent hours developing his franchise model and brainstorming ways to reach potential buyers. But, when he finally built his empire, he was able to reach unprecedented levels of success.
When you make money from your business, immediately reinvest what you can, then spend the rest. Reinvestment in contract labor, new systems, employees, bigger facilities, and marketing can all help you grow infinitely faster.
Better yet, it helps to remove you as the lynchpin of your business. Part of a confident, happy business owner is being able and willing to pull back and let other people take on tasks you would otherwise do.
3. People With Wealthy Mindset Understand The Meaning of Hard Work.
I am a hard worker. Even now, after years of successful business dealings, I spend a lot of time every week developing new ideas, strengthening existing websites, and creating new partnerships.
If you want to be successful, use your confidence to know that all the hard work you do now absolutely will pay off in the future.
4. Setting Goals and Task Timelines.
Step one is to set goals for yourself that you know you can complete. Start simple and always be realistic about what you can and cannot achieve.
That means, if you plan on starting a membership site for stock photography, you shouldn’t expect to get 10,000 members in one month.
It’s not very realistic. However, it also doesn’t mean you should set a goal of only 10 members in one month.
You might not always meet your goals – that’s okay as long a as you keep tracking your goals and adjusting to them.
If you set a goal of building a site and getting 50 members in one month and you get only 25 members, guess what? You still got 25 members. I’d consider that a success.
Be very clear about you goals, however. Vague, overarching goals are hard to maintain and they don’t allow for good tracking.
Instead of having big, impossible to define goals like “make X amount of money” create small, specific goals that you can work towards month to month. I like to use the task test for all my goals.
I will write a list of goals for the month and then go through to each goal and ask “can I create specific tasks that will help me achieve this goal?”
If not, then my goals are not specific enough. Once you’ve done that, schedule in those tasks accordingly and you’ll have a clear path toward achieving your dreams and goals.
5. People With Wealthy Mindset Never Procrastinate.
A timeline is vital because the last thing you want is to start procrastinating on your new project.
Everyone gets stuck in this rut occasionally, but the people who find success and wealth manage to overcome it quickly.
Here’s how I do it. First, I have three categories for every task, idea, or project I come up with:
1. Do it Myself
2. Outsource It
3. Do it in the Future
The most important tasks that I need to perform are immediately scheduled for a future date when I can accomplish them.
And if the task is not important or is an excuse to procrastinate on what I really need to get done, I place it in an “ideas” folder where I can come back in a few weeks to check for good ideas.
I check that ideas folder once every month for new ideas that have not yet been completed and reassess whether they are important enough to focus on right away.
Procrastination comes in many forms, and everyone has their own tricks for getting past it. What you need to remember every step of the way is that the sooner you complete something, the sooner you either succeed or fail.
Fear of failure is a big reason for procrastination. But, guess what – we don’t care about failure. In fact, we welcome it – it gives us the tools we need to get better and learn from our mistakes.
That’s fantastically useful, but you first must be willing to embrace your mistakes and to keep working, even when you’re fearful of what might happen.
6. Drawing on Challenges to Succeed.
Truly successful, wealthy people will actively seek out challenges in their business so they can generate solutions. You need to find the energy and drive to feed on these challenges.
It may seem counterintuitive to spend so much time looking for ways to make your job harder, but consider the alternative.
If you look only for the easiest way to get through the day, how many opportunities are you missing out on?
Remember our donut shop owner? He had two choices – the easy route of making $50,000 a year and working endless hours or the hard route of expanding, investing and franchising so he could make $500,000 a year and work half as much.
The second option is risky and it takes quite a bit of time and money up front, but by rising to the challenge, our donut salesman created a business that can support him for years to come.
When you are presented with a challenge, don’t shy away from it or put it on the backburner – jump at the opportunity to test your newfound knowledge and confidence.
The worst that can happen is that you generate valuable experience you can use for the next challenge.
7. People With Wealthy Mindset Realize The Power of Focus.
Focus is the act of sitting down, devoting your entire being to a single task, and not stopping until it is completed.
It also happens to be one of the single biggest enemies of entrepreneurs looking to find a happier, more fulfilling lifestyle in their business.
So much happens around you at any given time – from family issues to business snafus – that you may feel like your head is spinning on its axis sometimes.
But, a few simple exercises that help you narrow your focus can help you reduce the stress you feel in your work and get a whole lot more done.
- Set Aside Specific Time Frames – Every day, sit down and write a list of what needs to get done, then sit down and get it done. Don’t work on anything else, and try to maintain the same timeframe on a daily basis to optimize your productivity.
- Don’t Be Afraid to Keep Working – If you get on a roll, don’t stop working. How often do you get “in the zone”? I might reach that magic point once every week or two, so when it happens I don’t let some artificial timer stop me from whipping out a whole lot more work.
- Avoid Distractions – Tune out the world. Unplug the Internet if possible, get a quiet room, or even rent an office space so you can separate yourself from the many distractions of the world at large.
- Use positive affirmations - Positive affirmations have the power to manifest your dreams faster. Hard work combined with some rest and positive affirmations can help you achieve your goals faster. It is one of the top secrets of people with wealthy mindset.
Achieving focus is both a physical and mental task. By separating your tasks and only working on one at a time, you can narrow your actions in on the task at hand.
But, to truly focus on any given aspect of your business, maintain the confidence you started with that says you are capable of success, that you are a tremendous thinker and that your dreams are absolutely possible.
You’ll be surprised how much drive those simple thoughts can give you.
The rich didn’t get that way by chance. They worked hard and they made a lot of mistakes. They then applied the knowledge gained from those mistakes and generated companies that allowed them to build massive wealth and maintain the lifestyles they dreamed of.
Happiness, wealth and friendship – those three things are closely interwoven and should remain so if you want to be find that degree of success in your own life.
Create a strong foundation, build relationships you can tap in any part of your life and don’t let anyone tell you that something isn’t possible.
There are a million clichés I could quote, but I’ll keep it simple.
The world is a big place and there is a lot of room for successful men and women with the confidence and drive to build a business. Master the basics and I can guarantee a long, happy life filled with wealth and people you will grow to know and love.
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