The Millionaire Mind, what is it and how do you develop it?
I’ve always been a big thinker but my thinking really went into overdrive the day I lost $250,000 in one single day. This was an unfortunate event that happened in the markets during the pandemic in 2021. It was shocking at the time, but I quickly got over it.
My mind would not allow me to spend days, weeks or months moping around trying to find people and things to blame. I only had one person to blame. ME.
The Millionaire Mindset
Although it was a shock, I realized I had been thinking too small. $250,000 is a life-changing amount to some people, but to others, it’s just a drop in the ocean. The difference is the emotion you give to the amount. All things are recoverable, and $250,000 is more easily recoverable to a person earning $250,000 a month than it is to a person who saved all their life to buy a house worth $250,000.
This is why to think like a millionaire, you need to be a constant creator, a creator with big thinking. A person who not only created the products, services, and strategies to make a million but also the person who creates the thinking to make a million. The more emotion you give to the loss, the more you will be affected by it in the long term.
Obviously, it’s hard NOT to be affected by loss, I get that. But, when it comes to money if the loss affected you that badly (some people do the most horrific things when in debt), your thinking about money was too low down the ladder.. and for most people, it often is..
Let me explain…
People tend to value themselves too low. They are happy to work for an employer for a pittance, yet don’t have the courage or confidence to work for themselves. When you trust in yourself and your ability, you start to see your finances increase. You are currently seeing your worth as your hourly wage.
The law of attraction tends to give you what you expect, if you don’t expect much and you make a minimal effort most of the time, your subconscious steers you toward your expectations.
Working hard won’t necessarily make you rich. There are only so many hours in the day. You need to work smart in order to gain massive momentum.
The Millionaire Mind – The Million Dollar Compound Trick
Although I call this a trick, it’s more of a simple strategy. When I first started my self-publishing business I kept on putting every penny back into the business. After around 6 months, I was writing a book around every 5-6 weeks but also having a book written by a ghostwriter.
This can apply to any business you create, online or otherwise. Keep putting the profits back into the business, don’t draw anything from the business for at least the first 18 months or so, let your business keep compounding the money that you keep putting back into it, into profits.
Whatever you are selling, you can keep adding products and services to the range. For instance, if you are self-publishing and selling books (my current business), you can also teach others to do the same or offer book-related services such as creating book covers, creating book outlines, and offering formatting and editing services.
Outsource the work you can’t do yourself. But keep the wheels turning every day, stop thinking like an employee, and be determined to create the very best outcome you can. Instead of living your life at the hourly rate you earn, start to imagine how life would look if you were earning a $100, a $1000, or $5000 an hour. It’s not a pipe-dream, people are earning this and more all day long.
It All Starts In The Mind
Many of those people you see earning millions of dollars a year started off in jobs paying less than $10 an hour. Although they accepted the job, they never accepted that, that was their limit. To expand your thinking you have to create a virtual reality in your mind. You can’t aspire to greatness if you are always thinking about the cost of petrol or food. It’s a simple mind switch, your imagination produces the pictures and process that produces the end result.
When you keep focusing on what you don’t have, you just get more of it. You need to focus on what you want and obsess about it day and night, crafting a plan to attain it as you go. If your mind is full of politics, bad news, lack and no hope for the future, you are already creating it. You have to get out of that mode of thinking and start to be optimistic about the future…. HOW MANY LIFETIMES DO YOU THINK YOU ARE GOING TO GET?.
*Stop thinking about what you don’t have and concentrate on what you want. Live it, see it in your mind’s eye, breathe it and start to live the virtual reality of what you want.
*Be a constant creator, let go of the employee mindset and increase your perception of your value
*Losses are inevitable. Learn from them and move on, but don’t spend hours, days, or months being emotionally tied to the result. Massively increase your thinking by realizing that although the loss of large sums of money is painful at the time when your thinking is bigger, the loss will seem smaller.
I hope this post has been of value to you. If it was, please leave a comment below and share.
Thanks. All the best
P.S to increase the power of your thinking and to find out how to massively increase your bank balance, read this book.