How to Channel a Millionaire Mindset into Your Business
(Because You Need to Act Like A Millionaire Before You Can Become One)
Not everyone is born a millionaire. But that’s no reason not to channel a millionaire mindset into your business. Rather than sitting around wondering “why didn’t it happen to me”, we can look at how we can make it happen for ourselves.
And that means looking to millionaires and learning from their habits so that you can bring them into your own life. Because, spoiler alert, you need to think like a millionaire before you can become one.
You need to adopt a millionaire mindset.
First, come the thoughts. Then the actions. And then the results.
It all starts by getting your mindset right, as you work to build up new habits that’ll help you grow your business (and yourself). Even if you’re thinking “hey, I’m not so fussed about becoming a millionaire I just want to be comfortable”, these tips can still help you with that.
They’re all about getting the best out of yourself with a millionaire mindset.
#1 Focus on the things that’ll make you money
This is a message that you’ll often hear from Denise Duffield-Thomas (and yes, she’s a self-made millionaire!). You need to focus your time where you can have an impact. And that means focusing on the things that’ll make you money.
Your time is just as precious as your finances, if not more so. Unlike money, you can’t earn more time but you can ensure that your time is a worthwhile investment.
This is where you have to leave your ego at the door and take a long hard look at what’s working (and what isn’t) in your business. Just because you have an attachment to a certain product or offering, doesn’t always mean that your customers are going to feel the same way.
Where do you see the most impact in your marketing? Which products are bringing in the biggest returns? Which service offerings are being snapped up, and which ones aren’t? If you want a millionaire mindset in your business, you’re going to need to focus your time where you can make the most money.
#2 Consider the long-term
In a world of fast food, on-demand and instant access, so many of us are used to wanting something and getting it now. But business isn’t like that.
Get rich quick schemes aren’t sustainable. Overnight successes don’t show the many years of hard work before that magic moment. And there is no ‘magic formula’, no matter what the marketing gurus out there might like to tell you.
Instead, it’s about showing up and planning with the future in mind.
Think of it this way, do you want to put up a tent just for the night? Or do you want to build a home that’ll keep you and your family safe for decades to come? (I know which I’m going for, and it certainly doesn’t involve camping!)
When you’re planning for your business, it’s not enough to just think about the now. While jumping on trends and taking advantage of topical interests is important, it’s not enough on its own. You’ve got to think about how you’re going to keep that wave of interest going once the initial interest dies down. That’s what will make your business sustainable.
#3 Be honest with yourself
It’s easy to get caught up in ideas. That wonderful wave of inspiration strikes, and we can’t help but follow its trail to see where it leads.
But, sometimes, we need a sense checker. We need someone (or something) to break things down and consider just how practical these ideas are.
How much time will it take? Will it distract from other projects? What investment is needed? How will you market it? Is there an audience for it? There are always so many questions that come alongside any new project, it’s essential to be honest with yourself and truthfully ask “is this worth it?”.
#4 Grow your knowledge (when you need to)
There’s a fine balance between getting on with it and doing the best you can with the knowledge you’ve got, and continuing to learn and grow.
You will never know it all. Even millionaires don’t know it all.
Instead, you have to learn to be selective. What skills do you really need to develop? And what can wait? Use your millionaire mindset to discern between a “nice to have” and a “need to have”.
#5 Network and build real relationships
It’s often said that we become the average of the five people we spend the most time with. So, if you’re following a millionaire mindset, you’re going to want to look for people who will help lift you to the next level.
Seek out the people you can learn from, the ones who will truly support you. Build connections with other business owners who will truly understand what you’re trying to achieve, and make sure that they’re real connections too.
Please don’t just throw a pile of business cards in the air and hope for the best! Networking takes a lot of time and effort to get it right.
Find people in different industries, with different approaches to your own. Bounce ideas off them and do the same in return. Build yourself a community that will boost you up, and commiserate when things don’t go to plan.
When most of us think of delegation, we think of hiring an assistant or full-time member of staff.
But delegation doesn’t always have to be so traditional. You could book a contractor to help out on a specific project, or simply hire someone to clean your house. If something is taking time away from you growing your business, then it’s worth investing in.
“Businesses with 1 to 4 employees generate an average of $387,000 in revenue per year. Businesses with 5 to 9 employees average $1,080,000. The numbers keep growing exponentially from there.”
#7 Believe in yourself
We’ve heard it all before but we’ll never hear it enough. You need to believe in yourself.
Because if you don’t back yourself, who will?
Every business venture starts with you putting yourself out there. It means taking a risk and believing that you can do it.
Be prepared for the fact (yes, fact) that not everyone will welcome you with open arms. That’s ok! You’re not going to be perfect for everyone, but you will be for some people. And it’s those people that we’re aiming for.
As you bring each of these millionaire mindset shifts into your life and your business, remember that it’s going to take work. You’re not going to adopt them all overnight. Instead, it takes time and it takes consistency. Save this post so you can refer back to it easily, and keep on showing up. Weave them into your life one by one. I’m rooting for you!
Identify your Money Blockers
Is your money mindset holding you back? Overcome your limiting beliefs and move towards a millionaire mindset with a free clarity call to get you started: