One of the most common questions from media people after my first successful exit as an entrepreneur was: “After 10 years of online business, are you a millionaire now?”. The value of the transaction was confidential, so I decided to give them a somehow foggy answer: “Well, I was a millionaire while I had the business, I just didn’t have it transformed into cash…” Without exception, they were puzzled by this answer. That reinforced once again for me the very popular obsession for money as a number.
I wrote about money as an energy form before, so I won’t talk about it again, feel free to read that post if you haven’t read it yet. Basically, for me, the most important thing about money is not its number or social value, but the raw energy it provides to you. Being a millionaire out of an online business is not so rare these days anyway, so the question was even funnier to me. But the “being a millionaire obsession” is still very common, and as I said, that question was one of the most frequent questions I had to answer, and not only from media people, if I think a little bit.
And then I sat down and tried to understand what is a millionaire. From a financial standpoint is clear: a guy with more than one million in bank. But from my own standpoint it wasn’t like this. Being a millionaire is not a question of money into bank. I was very honest when I responded that I was a millionaire before selling the business, and this is how I felt. I think being a millionaire is more of a mindset than a bank statement. Being in a millionaire mindset means you can access that amount of money if you want. You just can. It’s not compulsory, or needed. But it’s like an insurance. If you need that amount, you can have it. By selling the asset’s of your company, for instance.
And than I started to think about the elements of such a mindset. I thought about what I have done in the last 10 years, and how all of this rearranged in this mindset. I come up with around 30 sentences, which I will try to describe below. Keep in mind that these are my personal experiences only, and they may or may not apply to your own lifestyle, expectations or goals. Also, this is not even remotely a manual of how to become a millionaire. As I told you, I don’t know much about it and by reading this post you won’t learn how to put a million cash in your bank account. All I know is how I created a millionaire mindset, without having the physical money. Weather you should manifest or not the physical money is entirely up to you.
I will try to split the list into 10 sentences per post. Here we go, with the first 10:
1. Don’t buy stuff you don’t want just because you need to spend money, buy something you really really want
That’s a tremendous money saver. It deals with all your impulse shopping crisis, or social pressure for cool gadgets, or you name it. If you manage to really buy things just because you need them, and not because you need to spend money in order to have some thrills and chills out of it, you’re half way there. You’re piling energy.
2. Don’t be afraid to want things, regardless of their money value
That could be interpreted as contradicting with the first sentence but it isn’t. It’s about giving yourself freedom to want what you really want, without putting a tag or a limit on it. It might costs millions of dollars, but allow yourself to want that thing, even if you don’t have millions of dollars. Yet. You will attract that money. Eventually.
3. If you really really want to have something, just have it, don’t fantasize about having it
Again, you might think this is opposed to the last sentence, but it isn’t. It’s about really going after what you want, until you have it. Just go and have that car, or that computer, or that relationship if you really, really want it. Don’t settle for less. It might feel like you don’t have the resources for it at that exact moment, but that’s an indicator of the fact that you don’t want that thing enough. Yet.
4. Carry more cash in your wallet
Might sound dumb, I agree. But it just works. Make your wallet capable to accommodate your day to day operations. If you aim for millions of dollars but you are not able to pay your parking lot, you won’t have those millions, that’s for sure. Carry more cash but don’t spend more cash if you don’t need that (that would be sentence no. 1, in case you already forget it 😉 )
5. Understand what people want from you
The easiest and most enjoying way to make money is to get it in exchange for the value you provide. If you’re going to make money this way, it’s crucial to know what people want from you. It’s incredible how most of the people are making assumptions about what they are supposed to give. Just make sure that you know exactly what people want from you. And, if you can, deliver.
6. Understand what you can offer to people
Closely related to no. 5. If you get to know what people want from you, start finding what you can offer. Maybe they are asking you something impossible or two draining form you? Look inside yourself, assess your skills and values, and see where you can do best. And then try to connect with people that seem to be in need for what you seem to have to offer. And deliver.
7. Don’t argue, win or lose
Especially if you work in partnerships, this is one useful way to gain some time on your side. You will have different opinions at some point, that’s for sure. Trying too hard to win a fight with your associate (or your client, or your employee) will just kick you off the road. Accept the fact that you can either lose or win, and chose one. And then move on.
8. Don’t think about the money, think about what you can do with the money
This is difficult because there is a whole management pressure to think in terms of budgeting stuff. In terms of: x money for x things. Instead, try to use: I want to do this thing, and for that I will need that amount of money. It’s not about forgetting the budgeting, but about trashing away the numbers in money, and only think at their creative support for your purpose.
9. Keep a healthy lifestyle
Can’t stress enough on this one. Not wasting your body and mind energy is the greatest gift you can make to yourself, regardless of your millionaire status. And starting to have a congruent body vibration will soon attract similar vibrations around you. If you’re wasting your time in dully yet spectacular activities, which in turns puts your body to unneeded stress, then expect some delays in your goal to become a millionaire. Money likes healthy people.
10. Say only what you want to say
Don’t speak if you don’t have to, just because you can. That sentence can have a dramatically impact on your activities. Some people will want to take your mind with their mind, just to play you, or to abuse you. Although it might be useful from an experimental standpoint, if you really want to attract more money, just say only what you want to say, and don’t allow yourself to be fooled around. It’s much more complicated than it sounds, I know…
So, that’s it for the first part, hope it was at least some food for thoughts. In the next post I’ll share my next 10 sentences for a millionaire mindset. Meanwhile, feel free to comment on those first 10.
Later edit: Now you can get the ebook based on this blog post:
Wonderful information. When the student is ready the teacher appears!
Wonderful information! And truly when the student is ready the teacher appears 🙂
Awesome Post, this guy is great and has inspired me to teach people how to Develop a Mindset of Millionaires!
yes this is very true.its a good thing to have that state of mind and always be of the best character.you don’t have to impress people to keep them and make them believe in you.try impressing your self and you will see things turn around for good.
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Good post
It was indeed a nice post. Whatever means you choose, trust that you know what you want. The clearer you are about what you yearn for, the easier it is to stay focused on the goal. To make money, you must be prepared to take a few risks. You require to risk a lot regardless of the venture you intend to invest in. People often say you must only risk what you can afford to lose. It follows that risking little won’t make much of a gain or make money fast. Settle on what you want beforehand and get out at the right time. Next up, ignore the majority’s view; it’s probably wrong for you. Don’t be afraid to stand alone. Rely on your own decisions to become rich fast.
Nice post. If you expect yourself to become a millionaire (not in feeling but in hard money in the bank), I’m convinced that this is 50% of getting there. Having the right attitude and accompanied mindset will get you very far.
How about “If money is lost nothing is lost,if health is lost half of U is lost but if character is lost U r completely lost”
.-= djashish´s last blog ..Oscars of Advertising World:Best Ad-films winning Golden Lion at Cannes =-.
Hi 😉
I like your thoughts but I don’t like the way all the people in our world are runnig forward to make money. The beauty of our life, happiness and health are priceless.
We people are misleaded in the last decades that money, beauty, fame, SLR Mercedes-Benz, plastic surgery etc. have value!?! What really have value: me, family, friends 🙂
I absolutely agree with you we have to buy things we really like & enjoy. So this way we are happy by our new gain. Quality is more important then quantity!
🙂
Cheers!
.-= addicted to life´s last blog ..Favorite pictures from www =-.
Thanks for the great post. So many of these sentences have to do with developing the proper mindset in your work and in your life. I like the points of always negotiating win win with your partnerships; being committed to a healthy lifestyle, and not being afraid to want things because of the money. Complemented, of course, by not thinking about money, but thinking about the things you want to do with the money. That keeps you off of greed, and focused on service and living.
.-= Steve´s last blog ..Do You Need to Stop Moving Sideways? =-.
Your indict of “retail therapy” is spot-on. The post itself is very smart overall, too. It’s interesting how people have that “are you a millionaire” thing on their mind all the time, isn’t it?
@HankM yes, I think the obsession of numbers is what makes the “millionaire” milestone a proof of success. It’s not like this, of course, but people keep reinforcing this belief 🙂
@liu thanks for the comment, glad you found something useful here.
@Evelyn Lim of course it is, I just used a mental hook here 😉 People are attracted by familiar stuff around them, a million dollar being something like a symbol for abundance. In the end, it’s not at all about numbers 🙂
great post!! i have learn something here Thanks For sharing
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Thumbs up to saying that having a millionaire mindset is really more than having a million bucks in the bank. Stumbled!
Evelyn Lim’s last blog post..20 Funny Money Quotes
This is really cool stuff, i like your thinking .
invest in me network’s last blog post..Google LatLong: Street View cures the homesick blues
@BunnygotBlog thanks for your comment. Well, the way you’re spending money tells to me that you do enjoy traveling. And I mean by that that you do enjoy mostly the travel than the destination. Which, in my opinion, is a great thing 🙂
@Jonathan the “million dollar” is already folklore, an archetype of the wealth. It’s been used metaphorically here – although there is no roadblock whatsoever in actually manifesting a million dollar if you want – as a definition of abundance. A mindset is a blueprint for the reality, it’s the seed and the plan. A scarcity mindset, although strongly focused on money, will never attract abundance.
@Steven Roll welcome here, my friend 🙂 As per Jonathan response, I totally agree with your standpoint, and this is what this series is about: a mindset of abundance.
@Kikolani wow, you’re getting a MacBook Pro soon! That’s great. I’m quite a fan of Apple products and gadgets. About spending by impluse, no need for retail therapy – although it might help 😉 – just assess your real goals and see what your money are good for. I know I did.
These are some great quotes. Especially about not buying just to shop… I have a tendency to do that a lot. Retail therapy I guess. But it’s better to just save up for something big, like a vacation, or the Macbook Pro I’ve been wanting for forever.
~ Kristi
Kikolani’s last blog post..Discover More About Yourself Through Blogging
To some extent, I think it might be a misnomer to call what you’re describing as a “millionaire mindset.” As you say, it’s not amassing a specific amount of money that is important. Rather, it’s living a fulfilling life by pursuing things that you’re passionate about. Maybe one of the keys to fulfillment is focusing on the things in your life now that you wouldn’t trade for a million dollars. Anyway, I’ve come to think of this as more of an “abundance mindset.” The reward is the emotional pleasure, not a number associated with my bank account.
Dragos, I agree 100% with you when it comes to mindset. When you have a millionaire mindset, the physical reality (in this case a million dollar net worth) becomes the natural result of who you already are on every other level. Without the right mindset it’s just money and there is no real connection to your inner self. To be truly rich always starts with perception. With or without money we can all be rich, if we are then either the money will come or it will cease to matter.
Jonathan – Advanced Life Skills’s last blog post..What Is Holding You Back?
#1-3-5-7&8 right on!
I budget because it is practical to do so. I am not an extravagant person. I don’t have clothes filled with designer clothes or several different high tech gadgets that have a short life span.I just don’t have the need for that. I hate shopping it is a waste of time for me. The waiting in line drives me crazy but it is sometimes necessary but more then once I have thrown something down and walked out of the store because I decided the wait wasn’t worth the purchase. Hopefully this doesn’t sound to strange coming from a woman since we have a reputation of loving to shop.
I get more excited over a savings of $10. on a pair of Adidas running shoes then pair of Jimmy Choos.
Now traveling and kitchen gadgets are another story. I shop around for hotels and car rental but kitchen gadgets and spices are another story.
I think I spend wisely. When buying a car, I think long term that this car is going to be around for a couple of years. Brand only matter because of the technical part.
People are funny when it comes to money. Some are even weird and transparent of having an agenda. You can suddenly find your self very popular for the wrong reasons.
I tend to have the same close friends with similar life styles and backgrounds but do not limit myself to only them. I have several friends that are teachers, work in food service and stay at home moms.
I think if you aren’t flaunting dollar signs at people they are going to treat you different.
A peer of mine drives a very economical car when working but owns a second car he drives when he is not.The second car is more sporty.
I don’t want to be judged by my wallet but by my value as a friend and human being. This is how I feel about people. Each person that comes into our life brings us value in some form.
Terrific article Dragos.
Cheers
BunnygotBlog’s last blog post..Life Is What You Make Of It
This is insightful and thought provoking stuff.
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Working on my millionaire mindset: http://tinyurl.com/8am5t6
Glad you like it 🙂
Seems like your fridge is your vision board ;-). Ever thought to make a separate vision board?
you mad my day! I just realized (today is the salary payment day) that I need more cash in my hand. Just as a form of freedom: I can do what I want, when I want, generally speaking. Now, I just need to think how, I will vizualize it and put it on my fridge door 🙂
Glad you liked it, Bogdan 🙂 Yeap, assumption is one big rabbit hole, and I know I lost myself thousands of times in it 😉
Great post !!! Looking forward to the net two on this topic 🙂
Your 5th point: AKA “the assumption is the mother of all f**k-ups”