May 04, 2021
Think yourself successful: 4 books to help you hack the millionaire mindset
To be a successful entrepreneur, you need to adopt the mindset. But where to start? We’ve lined up the best brains on the subject to clue you up.
Who doesn’t want to be a millionaire?
Most of us would like to spend our days working on something we’re passionate about, as well as giving us the bank balance of dreams. But though many of us aspire to it, how do we go about achieving that elusive goal?
Turns out, the first step is to think like one. Easy, right? Well, it is now that we’ve compiled the best books on the subject, from the brightest millionaire minds. Read on to gain insights from books designed to help you hack that millionaire mindset.
Fancy the fast track to millionaire town? DeMarco’s illuminating work debunks the old ‘get a degree, get a job, work hard, retire rich’ model and opens up a new way of thinking. He certainly got it right, managing to retire a multi-millionaire at the ripe old age of 33. So what’s DeMarco’s advice?
Understand that wealth stands for three things - none of which is money. It means meaningful relationships, being healthy and physically fit – and freedom. This is where the money comes in. It helps you live where you want, eat what you want, travel where and when you want and follow your hobbies with a passion – even if they’re expensive. When you don’t have to trade your time for money, you can spend it exactly as you wish – and that, my friends, is what wealth really is.
Realise that your income eventually can’t depend on your time anymore. How’s that work? You have to unlink your income from the hours you work. For example, an author puts in months or even years or work to write a book, but once it’s done, they keep earning from each sale even though they no longer spend the time. You have to build a great company or product that starts to produce passive income, even when you’re sleeping. The Fastlane might be fast, but it’s not a shortcut. There are no shortcuts.
So says Dean Graziosi, the multi-millionaire behind this helpful book, which teaches us the habits we need to take up to become financially successful.
This mindset hack focuses around the ‘seven levels of why’ exercise. It’s an exercise the author learnt which helps us find the motivation and energy to start and continue our path to wealth. It’s a method that involves asking yourself the question ‘why’ seven times.
Graziozi was shown this method himself, and initially he shared basic and generic answers. But something changed with the last few whys. He realised his deeper purpose for what he was working on and this gave him drive and purpose. Understanding our purpose gives us resilience to keep pushing when times get hard. Graziosi believes it made a big impact on him – and it will on you, too.
Other mindset hacks include:
Give up on your weaknesses and focus on your strengths. It’s easier said than done, but when you do this, it’s life-changing. Defy the inner villain that thrives when we focus on the negatives. Find your strengths and make them even stronger.
Awaken your inner hero! Focus on solutions, don’t worry about the things that could go wrong. Take control of your actions using the four C’s: Courage, Commitment, Capabilities and Confidence. Courage to believe your efforts will bring results; recognize the importance of commitment by asking yourself if you’ve ever achieved anything without it. Take a course or read a book to improve your capabilities – and have the confidence and ability to let your hero take charge.
Are we born with the ability to be a millionaire? This fascinating study suggests our financial success is predetermined from birth – but don’t worry, all is not lost! Secrets of the Millionaire Mind shows us how to break through mental barriers to succeed. So how do we hack the habits of the rich?
Tip 1: You probably try and make money the same way your parents do. As kids and young adults, we often turn to our parents for advice. Often, this extends to learning about money and jobs. Therefore, if your mum or dad have a regular job, chances are, you will too. You need to strive for more to break through this cycle.
Tip 2: Take control of your money! You’re the one in charge, so don’t sit back watching your pay check disappear each month and wonder “where did it all go?”. The first step to making a change with your finances is realizing that you’re the one in control. Step up. Analyze your bank statements and understand your spending, and adjust where necessary.
Tip 3: Focus your energy on improving your wealth, not resenting others for theirs. Adopt a positive mental attitude towards wealth and money. You can’t envy or mistrust current millionaires while hoping to become one yourself. It will block you from engaging with those you could learn from the most.
Feel like being a millionaire is aiming too low?
Then check out how to hack into the minds of the seriously super rich...
As you probably guessed, self-made billionaires are a rare breed. This book discovers what makes billionaires stand out – and what they all have in common. Read on if you’d like to learn the dualities billionaires characteristically exhibit. Could you be one of them?
Billionaires are multitaskers. Hang on, isn’t it bad to multitask? Turns out it’s HOW you do it that matters. While micro multitasking is not a good thing, billionaires are able to juggle multiple ideas at the same time. For example, Bill Gates built Microsoft at the same time as two other companies. Time to dust off those juggling balls.
Risk is relative. There’s a fine line between two risky and not promising enough, and billionaires know how to walk it. Why? Because generally they’ve been there before. They have a relative view of the risks, and don’t focus on the downside. They’re less worried about taking the risks, and they’re willing to take a loss if they get it wrong.
Producers must partner with performers. Producers are people with clear vision, innovative ideas and the skills to bring resources together.
Performers are highly specialized in their field and are exceptional at executing a particular skill. Imagine Steve Jobs without Steve Wozniak. You need both types to succeed – and billionaires know this.