Watching a millionaire gliding past in a limousine it might occur to you that he must be super-lucky to be leading an uber-cool life.
In reality, luck, if any, plays part only when some of the other essential jigsaws come together in perfect complement.
Steve Siebold, himself a self-made millionaire, who wrote the book How Rich People Think, has this to say for the aspirers who generally feel left alone in the pursuit of making it big:
If you follow the beliefs, philosophies, and strategies of the rich and take action, you have a legitimate shot at becoming a millionaire.
He interviewed 1200 wealthy people to write his book. So there is a good amount of research and introspection when he says:
The secret is not in the mechanics of money, but in the level of thinking that generates it. Once you learn to embrace this, your earning potential is limitless.
Steve’s book is a treasure for what I say ‘practical inspiration’. Here let’s take a look at 6 powerful money-making truths of most millionaires out there in no particular order:
1) Don’t wait! GO after money.
Many of us in the middle class hesitate a lot. We tend to play a waiting game…as if doing so will somehow fetch us money.
The rich on the other hand define specific wealth goals, and create concrete plan to pursue and achieve them.
To quote Steve:
You’re not going to be discovered, saved, or made rich by an outside force. If you want a lot of money, build your own ship. No one is coming to the rescue.
2) You don’t need money to make money.
This of course is not a secret any longer, what with venture capital and crowdfunding being the sweet realities as they’re today.
Steve says that the wealthiest people focus on creative and innovative ideas first. They then approach other people to fund their future.
He blames the middle class cliché that maintains you must have money to make money.
According to him:
[This idea] is limiting, at best, and destructive, at worst. The truth is you have to have great ideas that solve problems to make money.
3) There is little to connect education with getting rich.
I can see many of you squirm reading this. But don’t forget, Dhirubhai Ambani, the self-made tycoon, didn’t have much of formal education.
As remarkable as it may seem, Steve in his research found that:
Becoming wealthy has little to do with intelligence and everything to do with persistence. It’s about knowing what you want and being laser-focused on getting it.
4) Do what you love, the money follows.
Here is a good tip about consistently making money over the long term. This is a slightly different take than what many believe:
Instead of setting out to find work with the most profit potential, focus on work that has the most fulfillment potential. Once you find it, invest so much your heart and soul into your work that you become one of the most competent people in your field.
5) Money can solve most problems.
Let’s face it.
Money is one of the most, if not the most, important tools in the game of life.
Khushwant Singh, whom I deeply admire, believed in healthy bank balance. He felt that –
you don’t need crores but it should be enough to provide for creature comforts and something to spare for recreation, like eating out, going to the pictures, travelling or going on holidays on the hills or by the sea.
Steve says as much.
The great ones know money is a critical tool that presents options and opportunities. And yes, it can solve problems.
6) Self-employment is the quickest way to wealth.
The rich people prefer payments based on results. This sharply contrasts with steady salary or hourly rates that the average people look for.
This is possible since the rich are self-employed, and they can determine their own paycheque.
Steve rounds up saying:
The great ones know self-employment is the best road to wealth.
Now it’s your turn to make it big – to follow the footsteps of successful millionaires..