Millionaire Mindset: The 12 Secrets of a Millionaire’s Mind

These days it seems like everyone is trying to figure out how to become a millionaire.  What business should you start?  What stock should you invest in? But the secret to becoming a millionaire doesn't depend on the stocks you have or the business you run.  What you need is a millionaire mindset.

And don't worry.  You can definitely develop a millionaire mindset.  

All that is required is keeping the awareness and dedication to following these principles long enough that you re-wire your brain for success.

So, what goes on in the minds of millionaires?  I'll let you in on their secrets.  

Let's take a deep dive into their mindset so that you too can become a millionaire.

The 12 Secrets of the Millionaire Mindset:

The Millionaire Mindset

These 12 principles of the millionaire's mind is the secret sauce you'll need to start incorporating into your daily life if you too want to join the millionaire's club.  Let's take a closer look at each of these principles.

Money is Everywhere

First off, all millionaires and billionaires even believe in one simple fact: Money is everywhere.  You can easily reach out and grab it if you want.

And if that's the case, why wouldn't you just reach out and take it?  So it's no surprise that people who believe in this become wealthy.

Because if there is money everywhere , you won't be afraid to go after it. Furthermore, you will know that you will get it because it is all around and easily accessible. 

The underlying belief here is that the possibilities are endless.  There is an unlimited amount of ways that you can make money.

And if you can be open enough to that, you will eventually be successful in making the money you desire.

There is Enough for Everyone

Part of having a millionaire mindset is the belief in abundance.  The basis of an abundance mentality is understanding that there is enough for everyone.  And I do mean everyone.  

You don't have to feel bad for taking a slice of the pie because there are plenty of pies to go around.  And when you realize this, you won't be afraid to go all out.

You won't hesitate to make money and make loads  of it because money is everywhere and there is enough.  So you don't have to feel like a bad guy taking money from the poor.  Because you're not. 

You are taking the money that is already there.  And there will still be more for everyone else.

Unfortunately, most of us are stuck in the mentality of lack.  Believing that if we get something we are taking it from someone else.  And that's why we haven't been able to attain wealth.

We need to make that mindset shift and truly believe that there is enough for everyone.  Only then will we be ready to receive the abundant wealth that is all around us.

Cash Flow is QUEEN

Having money is all well and good but there comes a time when you realize that cash flow is queen.  Because the flow of money that you have coming in is the life blood of, well, your life.  

If you have no money coming in, you have nothing.  You are broke.  Literally.

That's why, one of the first things you'll want to do on your way to millionaire status is to make sure you have cash flow.  And not just any old cash flow but one that is diversified.

Getting a salary from your day job is great but do you have passive income? semi-passive income?

One thing that millionaires know and live by is the fact that trading your time for money is not a recipe for success.  You need to find a way to make your money work for you.

That way you can earn money in your sleep.

If you ask any millionaire around, they will tell you that they have multiple sources of income.  Not just one.  And you should too.

Just remember that the key is cash flow.  So always be aware of how much money you have coming in versus how much money you have going out.

Take Ownership of Your Life

If you are guilty of blaming others for your misfortunes, that has to stop now. Like.  Right Now.  Otherwise you can kiss your dream of a wealthy life goodbye.

Because what millionaires know and live by is the fact that you are the creator of your life.  

You are where you are today because of the choices you've made, the habits you've developed, and the people you've surrounded yourself with.

By blaming others, you are giving your power away.  So stop.  Take control of your life now.   And start steering it in the direction you want to go.

Remember, in this life you get to choose your destiny. 

Let that sink in.  

Isn't it empowering?  I am the master of my fate.  Isn't that much better than 'woe is me'?

Step into your power.  And take control of your life today.

Action Over Debating

Analysis paralysis.  Have you heard of it?

It is something I'm guilty of way too often for my liking.  I get caught up in analyzing decisions and thinking about how each one could play out.  All in an attempt to choose the BEST one.

And maybe you too sometimes get caught up in researching the latest marketing trends or side hustles to make money.

You may try to find the best plan of action, the one that aligns with you most and you feel you can do easily.  

Then you tweak and fiddle and finagle it some more, all with the intention of making a good plan better.

But all the while, you've done nothing to actually move yourself forward or make progress towards the goal you seek.

It's great to think and to analyze.  But if you get stuck in this process, nothing will ever change.  Millionaires know this.  So they tend to have a propensity towards action.

Zig Ziglar once said,

"You don't have to be great to get started, but you have to get started to be great."

To be an achiever, you have to be an action taker.  If you do nothing, you will achieve nothing.

So if you want to remember one thing, it's this.  Act.  Don't think.  Well, at least not too much.

Leverage is Key

Most millionaires did not get to where they are now by themselves.  They had family, friends, colleagues, and mentors that encouraged them and supported them along the way.

There is lots to do on the way to millionaire status so you need to realize that you can't do it alone.

To join the ranks of the millionaire club, you're going to need to learn how to leverage not just your network of people but your time and your money as well.

Leveraging Your Time

When it comes to time, you definitely don't want to waste yours.  Time is the most precious thing we have and it is limited.  To develop a millionaire's mindset, this needs to be at the forefront of your thoughts.

So how should you be spending your time?

There are some things you are good at and enjoy doing.  And some things that you aren't.

This is what millionaires know and use to make decisions about what they choose to focus on and do on a daily basis.

Millionaires are constantly asking themselves these questions:  

What is the best of use of my time?  How can I use my time such that everything else becomes easier for me?  What things can I have someone else do instead?

So, what is something you do best?  And what things do you need to delegate?

Letting go of control of certain aspects of your life is hard but necessary.  This is especially true if you are a business owner looking to expand and grow your business.

Time is finite.  Learn to leverage it.

Leveraging Your Money

Funny fact, when millionaires invest or take on a risky endeavor, many do not do it with their own money.  After all, why risk your own money when you can risk someone else's?

Think, bank.  Friends.  Or other millionaires who simply don't have the time.

When it comes to your money, you want to make sure it is protected.  For instance, if you want to delve into the world of real estate investing, know that you don't have to and shouldn't use all of your money.

Use the bank's.  Take out a loan or ask friends if they want to invest with you and work out a deal to pay them back.  With interest, of course.

This is the basis of how you can actually get started in real estate investing with absolutely no money down.  

Because if you are willing to trade your time to look up the best deals around, you will be able to find someone willing to put up the money to make it happen.

To invest, all you need is money.  No one said it has to be yours.

Failure is a Necessity

"Failure is but the opportunity to begin again successfully." 

To join the ranks of the top 5% there is one thing you're going to have to get really comfortable with.  Failure.

Sadly, we learn early on in life that failure is bad.  We are ridiculed at school for asking stupid questions or getting an answer wrong.  When we fail, we are subject to punishment from our teachers or our parents.

Unfortunately, because of this, we begin to view failure negatively and aim to avoid it at all costs.  Even if it means giving up on a dream.

We let the fear of failure stop us.  But that is not the case with millionaires. Because they know that failure is good.  That failure is, in fact, necessary if you want to be successful.

Take it from Thomas Edison:

We need to shift the paradigm surrounding failure and actually celebrate it for what it is.  You taking a chance on something important to you.  Taking that risk to achieve your goals.  

Failure is actually the spring board of success.

The point of failure is to give you an opportunity to learn and grow.  And if you learn and grow enough, there is no way you can NOT be successful.

If you can't tell, I LOVE quotes and this one by Denzel Washington is by far is one of my favorites.  

"Never be discouraged, never hold back, give it everything you've got.  And when you fall throughout life, remember this.  Fall Forward."

The Beginner's Mind

The key to long term success is to approach everything in life with a beginner's mind that is open to learning new things.

Because, the thing is, if you believe you know it all, you close yourself off to all the possibilities that surround you.  You stifle your learning and, ultimately, your growth.

Everything is always changing.  Life is change.  So if you are going to be able to handle what life throws at you, you need to be open to everything that comes your way.

No one can know everything.  That includes you.  And when you understand that you don't know everything and are willing to keep an open mind, you learn more and grow more.

And as Warren Buffet says: the more you learn, the more you earn.

Cash is King

Yup.  There's no way around it.  To be a millionaire you're going to need money. Cash is everything in this day and age.  And if you can't respect it, it will not come to you.

Part of respecting money is watching how you speak about it and about people who have lots of it.  

So it's time to check your beliefs.  Are you always speaking negatively about money?

What is key here is to watch your thoughts and actions.  Really take the time to dig up those unconscious beliefs you may have learned from your parents or your environment growing up.

These are the things that could hold you back from building the wealth you desire and deserve.

Cash is king.  And you should respect it as such.

Have Clarity

With any goal, vision, or dream, you must be clear in your intention and in your desired outcome.  

What is it specifically that you want to accomplish?  What are the metrics that will let you know that you have accomplished your goals?

You really must be clear on what it is you want to achieve.  Because without it, you could easily find yourself running in place and going nowhere.

If you can get clear on what it is you actually want, then you give yourself a focus.  And from there you can make the necessary plans to achieve it.

So don't just have a dream or a goal or a vision but have a specific dream, a measurable goal, and a concrete vision.  Because that will allow you to actually achieve them.

Remember, having clarity gives you a path that you can map out and follow.

Estate Planning is Essential

Another thing that millionaire minds do well is planning for the future.  On their road to riches they made sure they took the time to plan their legacy.

What is it that you want to leave behind?  How much money do you want to leave to your children or grandchildren?  How do you want to go about leaving it to them?

By thinking through these questions and making plans well in advance, millionaires or soon to be millionaires are able to use their money more efficiently and preserve their wealth for generations to come.

So, at some point on your journey, you're gonna need to start thinking about your legacy.  

Then get with an estate planner and hash out them deets!  

Trust me.  Your children, grandchildren, and so on down the line will thank you for it!  Plus, you will sleep easy knowing everything is taken care of.

Solution Oriented

The most important thing that millionaires know for sure is that you need to give in order to get.  You can't make money by only worrying about yourself and always looking to take, take, take.

Millionaires are able to get where they are by giving.  They see the problems in the world, and they try to solve them.

And it is in finding a solution to these problems that they are able to make money.  

This is by far the most important of all the principles.  If you want to be rich, if you want to be a millionaire, you need to learn how to solve problems.

And not just any old problem.  But big problems.  Problems whose solutions would have an impact on the world around us.  

Because the bigger the problem, the more valuable the solution.  And the more value you can give to people, the more money you can make.

All in All

You can't become a millionaire unless you take action.  And you are doing that now by learning the secrets to having a millionaire mindset. 

A step, which is necessary if you want to take your finances to the next level.

So write these principles down and start to live by them.  They will help you not only on your journey to receiving the financial riches you desire but also in your ability to truly love the life you live.