I recently listened to a terrific audio taped teleconference with host Lee Milteer and her special guest Keith Cameron-Smith a successful Author and Entrepreneur. Lee has an awesome program called the Millionaire Mindset where she taps the brains of many successful Entrepreneurs in efforts to find out what makes them tick, how they achieved what they have and how they continue to improve and create successful businesses as Entrepreneurs. The course is called Millionaire Mindset because she extracts from her guests the attitude, mindset and basically the way that many successful Entrepreneurs think.
My Brief Notes: (based on Keith Cameron-Smith’s book)
Top 10 distinctions between how millionaires think and how middle class and lower class think!
10. Millionaires think long term, middle class and poor think short term
- The very poor tend to think day to day
- The poor tend to think week to week
- The middle class tend to think month to month
- The rich tend to think year to year
- The very rich tend to think decade to decade (10-20 year strategic plans)
- The primary goal for the very poor and poor is SURVIVAL
- The primary goal for the middle class is COMFORT
- The primary goal for the rich and very rich is FREEDOM (and they will do whatever it takes to experience an abundance of freedom)
****Seek and you shall find mindset****
If you seek to survive you will
If you seek to be comfortable you will be
If you seek freedom you will find it
“One of the reasons you must learn to think long term is because it takes longer to become free than it does to acquire survival, it takes longer to become free than it does to become comfortable.”
“You have to have business plans that go at least 1 year into the future, a lot of multimillionaires have business plans that go at least 10 years into the future. This allows the rich and wealthy to have a very clear vision into the future of where they want to be and how they want to achieve.”
“Where do you want to be 5 years from now? Where do you want to be 10 years from now? If you don’t ask yourself those questions you should be asking yourself these questions on a daily basis or at least on a weekly basis.”
“The rich and wealthy have developed the discipline of delayed gratification which has helped them to achieve their wealth. Giving up something today for something that you want more of tomorrow. Give up a little bit of your comfort today so that you can be free tomorrow”
“Also if you think longterm in all of your relationships your going to think more and more from a win-win perspective. As entrepreneurs it is the relationships that we cultivate that really makes us rich. Success in life is all about successful relationships.”
Thinking long term works in every area of your life, from thinking long term about your health, that means eating right, exercising, etc.
9.
- Millionaires talk about IDEAS and make things happen
- The Middle class talk about other people and other things and watch things happen
- The Very poor will talk about other people and end up saying what happened
Power Tips for thinking like a millionaire
- Spend more time talking about ideas instead of “things”
- Millionaires come up with ideas that the middle class spend their money on
- Build the right relationships with the right people at the right time
- Look for relationships that you can build long term (no one night stands!)
8.
- Millionaires embrace change and the middle class and poor are threatened by change
- Middle class people assume when change is presented to them that it is going to be negative, painful or bad one way or another.
- Millionaires think that when change is presented to them that if its good then hey that’s great but if its bad or seems to be negative that’s okay because now they have an opportunity to learn and grow. They believe that change is going to benefit them either way positive or negative. Either by learning from what change brings or by accepting the benefits from change if it is good.
7.
Millionaires take calculated risk, the middle class are afraid to take risk.
A calculated risk is when you increase your knowledge first on whatever endeavor you want to partake that may be risky (another way you could put it is doing your due diligence) and then consider the consequences of failing BEFORE you take action.
Ask yourself these 3 questions:
- What’s the best that could happen
- What’s the worst that could happen
- What’s the most likely that could happen
Here is the insight…
If the most likely thing that could happen brings you closer to your goals and if the worst thing that could happen DOES happen and you are willing to live with that, then you go for it.
On the flipside…
If the most likely thing that could happen does happen and it doesn’t bring you closer to your goals, and if the worst that could happen does happen and you aren’t willing to live with that and go through that, then don’t do it.
There is a lot more that I could include but I just wanted to show you some of the fabulous material that was presented in this segment of Lee Milteer’s Millionaire Mindset. I encourage you to check out her program and sign up. Also pickup a copy of Keith Cameron-Smith’s book which you should be able to find on amazon.com or at his website (just do a search in Google)