The other day as I sat in 2 hours of traffic my mind started dreaming about what I would do if I won the lotto. I think we all wish at some point or another that we could be a millionaire but realistically that is not going to happen for the majority of people. Why? Most of us just don’t think like a millionaire.
You may hear people say (or you have said it yourself) that rich people are greedy or believe that they don’t work hard. It is thoughts like this that are exactly the reason we aren’t millionaires and others are. I have been perusing the internet and books and found some common traits that millionaires have or espouse to have.
Commonly they all say that to be a millionaire you need to think like a millionaire!
Trait 1: They commit to being wealthy
Millionaire are not only willing to sacrifice to become wealthy they also believe beyond any doubt that they will become a millionaire. This may relate somewhat to what psychologists call the self-fulfilling prophecy. In very simple terms what you believe effects what you emit to others, and their responses validate this.
Trait 2: They are focused
Correlated to trait 1, millionaires are incredibly focused on what they want to achieve. Whereas others will get deterred upon reaching hurdles and commonly give up, millionaires will persevere to the end. These hurdles are seen more as challenges not as a signal to give up and move on.
Trait 3: They focus on their core business
The trap many entrepreneurs fall into is switching around as new ideas come in (and a lot of new ideas come in to these people). Their perseverance comes in here, but they remain focused on their core business which allows them to see what is working and what is not.
Trait 4: They continue learning
Rich Dad, Poor Dad author Robert Kiyosaki stressed the importance of education. This may not be in the traditional sense of returning to uni, it may be focused more on extensive reading and seminars. One of the biggest factors here is surrounding themselves with other multimillionaires-those are the people who they learn the most from.
Trait 5: Action
One of the biggest traits of a millionaire is their penchant for action. When they see an opportunity or think of an idea they jump on it and move forward to implement it. Part of this is also being decisive and making strong decisions about how to achieve their goals.
Trait 6: They build a team
Millionaires recognise that nothing successful comes from a one man show. They will build up a team of trusted members which allows them to do more at once. It often also helps with the expansion of an idea. The key here is that they are always on the lookout for talent which they can use.
Trait 7: They are not afraid of failure
Mistakes are a reality of life but it is how you deal with them that makes the difference. Millionaires see mistakes as working out what works and what doesn’t and it is from this that they continue to grow and create success. Whilst for the majority of people failure is seen as a negative they use it as a positive because of the lessons learnt.
Trait 8: They invest
One of the biggest traits of millionaires especially at the beginning is that they focus on investing not spending. Their focus is to continually build their wealth. Some of this is focused on them learning about what makes a good investment. They also create multiple flows of income which helps them build their wealth in different areas.
Trait 9: Confidence
Part of committing to being wealthy and having that belief, is linked to confidence. They are confident in what they can achieve and also confident in what their value is. Confidence also brings in powerful positive self-thoughts and positive self-esteems all key ingredients to them achieving success.
Trait 10: They are generous
Despite popular belief millionaires are very generous with their money. Many give away 10% of their gross earning and commonly they set up charities. They following this because of the belief that the more you give the more you put yourself in the position to receive.