I have seen people online and people I used to know in my personal life that have a broke mindset. If you want to be rich, you need to have a rich mindset. In a recent YouTube video, I explain 10 mindset lessons that can help you become a millionaire. In this article, I will briefly summarise each of these lessons.
1. Operate In Big Money Spaces
One of the reasons I got into property is that there is a lot of money in the space. People are spending hundreds of thousands of pounds on a single transaction. When big transactions are being made, you can make great money with even a 1% broker fee!
2. Outsource Your Life
Once you get a little success in your business, outsource your life. Get a cleaner, a gardener, etc. You need to focus on making money, not doing mundane tasks. Understand what an hour of your time is worth, and only do jobs that are worth more than that.
3. Become A Master
Most people try to be good at everything. But if you want to succeed in business, become good at a single thing. Become a master at what you do and know your niche inside out, to the exclusion of everything else.
4. Develop A Thick Skin
If you have any level of success, people will try to take you down. People will have nasty things to say, and you can’t let it get to you in any way. Focus on serving your customers and doing the best for your family, ignore the rest!
5. Quick Thinking And Action
When I see someone taking a long time to order at a restaurant, I think, “you’re broke”. In business and in life, you need to think and make decisions fast. If you take too long thinking, you won’t do well in the business world.
6. Embrace Impatience
Some people teach that you need a lot of patience in business, and of course you do need to think about the long-term, but day-to-day you need to be impatient. You need to want everything to happen now and to follow things up if they are taking too long!
7. Be Ruthless With Your Company
If you have friends that aren’t rich, don’t take financial advice from them. If you know people with a broke mindset, cut them out of your life. If you want to be rich, get around rich people and people working hard to get there.
8. Expect Problems
Entrepreneurs are problem solvers. You will have problems at every stage of your business, from the start to when you are hugely successful. Be ready for them and enjoy the challenge of overcoming them.
9. Be Brutally Honest
Be direct. You are here to make money and there is nothing wrong with that. Be clear with the people you are negotiating with that you are here to make a profit. Never be afraid to fire bad staff or evict bad tenants. Say what needs to be said and get straight to the point.
10. Celebrate Wins
Celebrate every win. Celebrating wins puts you in a winners' mindset. When a footballer scores a goal, they celebrate hard. But they quickly move on and continue with the game. You should do the same.