Think Like a Millionaire
Posted by davev in Start Thinking, Take Action on August 18th, 2010
Attitude is Everything
The most important attitude for financial success is long-term thinking. Successful people think a long way into the future and they adjust their daily behaviors to assure they achieve their long-term goals. In a longitudinal study done at Harvard University in the 50s and 60s, they studied the reasons for upward socio-economic mobility. They were looking for factors that would predict whether or not an individual or family was going to move upward and be wealthier in the future than in the present.
They studied factors like education, intelligence, being born into the right family, or having the right connections. In every case, they found individuals who had been born with every blessing in life who did poorly. They also found individuals who had been born or come to this country with no advantages at all who had been extremely successful. What was the distinguishing factor?
They finally determined that there was only one key attitude that mattered. They called it “Time Perspective.” Time perspective refers to the amount of time that you take into consideration when planning your day to day activities and when making important decisions in your life.
Time Perspective
People with long-time perspective invariably move up economically in the course of their lifetimes. When you spend weeks, months and years developing your skills and ability and expanding your experience in order to be successful, you have long-time perspective. The average professional person has a time perspective of 10, 15 and 20 years.
Begin to see that everything that you are doing today is part of a long-time continuum, at the end of which you are going to be financially independent or financially unfortunate. People with short-time perspective think only about fun and pleasure in the short term. They have what economists call “The inability to delay gratification.” They have an irresistible tendency to spend every single penny they earn and everything that they can borrow.
When you develop long-time perspective, you develop the discipline to delay gratification and to save your money rather than spending it. The combination of long-time perspective and delayed gratification puts you onto the high road to financial independence.
Action Exercises
Now, here are two things you can do to develop the attitudes of financially successful people:
First, think long-term about your financial life. Decide exactly how much you want to be worth five years, ten years and twenty years from today. Write it down. Make a plan. Take action on your plan every single day.
Second, develop the ability to delay gratification. Instead of buying something on impulse, put off buying decisions for a day, a week or even a month. Decide in advance to “think it over” before you buy anything. This can change the way you spend money almost immediately.
Why Money Is Good
Posted by davev in Start Thinking, Take Action on August 10th, 2010
The way you think about money will determine how much of it you accumulate more than any other factor. Your attitude toward money affects your emotions and your motivations.
Do You Feel That You Have Enough?
In psychology, money is what is called a “deficiency need.” This means that it only motivates you when you feel deficient in it, when you don’t feel that you have enough. Above a certain level, when you feel that you have enough, it is no longer a motivator. Put another way, when you have enough money, you don’t think about it very much. But when you have too little, you think about it all the time.
Determine Your Attitude Toward Money
The effect money has on your emotional life depends on your attitude toward it. If you feel that you have too little, money can become an obsession for you. It can dominate your thinking, feelings and actions. Arguments over money are a major reason for marital breakdown. Problems with money are the primary reason for business failure, the ruination of friendships and psychosomatic illnesses of all kinds. It’s not uncommon for people to even kill themselves over money problems.
Practice the Reality Principle
The Reality Principle applies especially to matters of money. This principle states that, “You must deal with life as it is, not as you wish it were, or could be.” Most people live in a world of partial self-delusion, with regard to money. They wish, hope, and pray about their financial futures while at the same time, deep in their hearts, they know their dre ams will never mat erialize. In Lewis Carroll’s book, Alice in Wonderland, one of the characters says quite happily that he is quite capable of believing several impossible things before breakfast each day. In the same way, many people believe quite impossible things about money and then they wonder why they are having so many financial problems.
Overcome Deep Seated Beliefs
One of the most common obstacles to achieving financial independence is a deep-seated belief that somehow money is wrong and that people who have a lot of it are inherently evil. This belief is not based on any factual foundation. It goes back to early childhood conditioning when the growing child is often told this because of other people’s desire to rationalize away their own financial failures.
Money Is Good
The fact is that money is good. It takes money to buy homes, cars, clothes, food and most of the good things in life. Money has an energy of its own and it is largely attracted to people who treat it well. Money tends to flow toward those people who can use it in the most productive ways to produce valuable goods and services, and who can invest it to create employment and opportunities that benefit others. At the same time, money flows away from those who use it poorly, or who spend it in non-productive ways.
Action Exercises
Here are two things you can do immediately to improve your attitude toward money:
First, be perfectly honest to yourself with regard to money and to the amount you want to acquire in life. Pretending that you don’t care about money when you really do will only make you unhappy.
Second, begin today to think about all the wonderful things that you could have in your life if you had more money. Then, begin to think of all the things that you could do to increase the amount you earn and the amount you keep.
The Causes of Money!
Posted by davev in Start Thinking, Take Action on July 30th, 2010
Never Worry About Money Again
You must aim to reach the point where you have enough money so that you never have to worry about money again. The good news is that financial independence is easier to achieve today than it has ever been before. We live in the richest country at the richest time in all of human history. We are surrounded by more wealth and affluence than ever before. Your job is to get your fair share.
Financial Success Is Not An Accident
The Law of Cause and Effect applies to money as much as to any other subject. This law says that financial success is an effect. As such, it proceeds from certain, specific causes. When you identify these causes and implement them in your own life and activities, you will get the same effects that hundreds of thousands, and even millions of others have gotten. You can achieve whatever level of affluence you really want if you will just do what others have done before you to achieve the same results. And if you don’t, you won’t. It is as simple as that.
Your Beliefs Determine Your Success
There is perhaps no other area where universal laws are more in evidence than in the acquiring and keeping of money. In America today, there are several million men and women who have started with nothing, or deeply in debt, and achieved financial independence. Their attitudes and behaviors have been studied in great depth. We now know the keys to wealth creation better than ever before. And what we know is that your most cherished beliefs on the subject of money will be the primary determinants of how much you acquire and how much you keep over the course of your working lifetime.
Your Primary Aim in Life
Your primary aim in life should be the achievement of your own happiness. However, happiness is something that exists naturally in the absence of fears, doubts and negative emotions. One of the factors that most deprives you of happiness is worry about money. And, by the way, when we talk about money worries, we’re not referring to your having too much. The problem is virtually always that people feel that they have too little money and their lives are suffering as a result.
Build a Financial Fortress
Perhaps the greatest single fear, the one that causes you more distress and unhappiness than anything else, is the fear of failure. In the area of money, you experience this as the fear of poverty and the fear of loss. Since one of the deepest needs of human nature is security, any threat to your security, real or imaginary, can cause you tremendous stress.
You can only free yourself from the fears of poverty and failure by achieving a specific level of financial worth and then by building a fortress around it so that you are safe and impregnable. This achievement of financial independence is a key responsibility of adult life. No one else will do it for you.
Action Exercises
Here are two things you can do immediately to implement the Law of Cause and Effect in your financial life:
First, begin today to implement the causes of financial success in our society. This requires that you spend less, save more, invest carefully and strive toward financial independence.
Second, study other people who are financially successful who have started from little or nothing. Find out what they did to become financially independent and discipline yourself to do the same things.
How to Achieve Wealth and Success!
Posted by davev in Start Growing Rich on July 28th, 2010
By Brian Tracy
Everyone I talk to wants to be wealthy. Most are savvy, hardworking and willing to do whatever it takes to achieve their financial goals.
What’s the one thing that holds most smart people back?
What’s the one thing that limits the earning potential?
It’s not starting a business. And it’s not delivering your product or service. The one thing that keeps most people from being successful and wealthy is knowing how to close the sale.
No sale, no income, no business.
Closing The Sale Is The Key to Success!
No matter how smart you are, how good your product or service is, or how long you’ve been in business—if you can’t close the sale, you won’t ever achieve the level of wealth and success you deserve.
Whether you’re just getting started or you’re a seasoned business owner, I’m sure you’ve felt the frustration of losing a sale you deserved, and increasing your income. And during this current recession, with sales shrinking or at best stagnating for most businesses, there is only one sure way to keep profits rolling in.
When I first started out in business, I know that I lost a lot of sales I deserved due to a whole host of common objections. Simply because I didn’t know how to close the sale, all too many of my customers would walk away without getting the product or service they needed and I’d lose the profit I could have earned.
Even worse, I’d lose the potential profits I could have earned from getting the customer on board and helping them for years to come.
Imagine you’ve cooked a delicious meal, but then you couldn’t get anyone to eat it. That would never happen in my house, but that is what happens to all to many business owners. They have a great product or service and they can’t get enough people to use it and buy it.
There is one simple truth about selling and without it you could struggle forever to be successful. The simple truth about selling is that your prospects, your potential customers, are better at convincing themselves to buy than you are. Once you understand this simple strategy and start using it, you’ll close many more sales and start achieving your financial success. This is the one approach that changed my life and can change yours too. With it you can close more sales in less time!
Making Selling Easy!
Why is it so easy to make more money when your prospects do the selling? Trying to convince anyone to spend money is a challenge. Helping them get what they want is easy. And that’s the simple idea behind Eliminating Obstacles to Sales. It shows you how to walk your prospect to the close so they get the product or service they want and you make more.
Eliminate Obstacles to Maximize Your Wealth!
If you drive to work every morning, I don’t have to remind you that it takes much longer to get to work in rush hour traffic. Even a well-designed and well-built freeway slows down to a mind-numbing crawl when it’s overloaded with cars. Nothing is more aggravating. You’ve got a well-tuned driving machine that could easily do 60 miles an hour and get you to work in 15 or 30 minutes. Instead, you can spend an hour or more stuck in traffic. Your prospects’ objections are like the cars in that traffic jam, slowing down the sales process. Eliminate those objections in advance, and you and your prospect get to the sale in half the time.
Move the obstacles off the road and clear the way for your prospects to buy. You’ll melt their resistance and sell more of your products and services—again and again. Use this technique to eliminate obstacles to the sale and ‘pre-sell’ your prospects. You’ll close more sales and make more money with less effort.
To your success,
Master Your Fears
Posted by davev in Take Action on February 15th, 2010
By Brian Tracy
Perhaps the greatest challenge you will ever face in life is the conquest of fear and the development of courage. Fear is, and always has been, the greatest enemy of mankind. When Franklin D. Roosevelt said, “The only thing we have to fear is fear itself,” he was saying that the emotion of fear, rather than the realty of what we fear, is what causes us anxiety, stress, and unhappiness. When you develop the habit of courage and unshakeable self-confidence, a whole new world of possibilities opens up for you. Just imagine-what would you dare to dream or be or do if you weren’t afraid of anything in the whole world?
Develop the Habit of Courage
Fortunately, the habit of courage can be learned just as any other habit is learned, through repetition. We need to constantly face and overcome our fears to build up the kind of courage that will enable us to deal with the inevitable ups and downs of life unafraid. The starting point in overcoming fear and developing courage is to look at the factors that predispose us toward being afraid. The root source of most fear is childhood conditioning, usually associated with destructive criticism. This causes us to develop two major types of fear. These are the fear of failure, which causes us to think “I can’t, I can’t, I can’t,” and the fear of rejection, which causes us to think “I have to, I have to, I have to.” Our fears can paralyze us, keeping us from taking constructive action in the direction of our dreams and goals.
The More You Know, the Less You Fear
Fear is also caused by ignorance. When we have limited information, our doubts dominate us. We become tense and insecure about the outcome of our actions. Ignorance causes us to fear change, to fear the unknown, and to avoid trying anything new or different. But the reverse is also true. The very act of gathering more and better information about a particular subject increases our courage and confidence in that area. You can see this in the parts of your life where you have no fear at all because you know what you are doing. You feel competent and completely capable of handling whatever happens.
Analyze Your Fears
Once you have identified the major factors that cause you to feel afraid, the next step is to objectively define and analyze your personal fears. At the top of a clean sheet of paper, write, “What am I afraid of?” Remember, all intelligent people are afraid of something. It is normal and natural to be concerned about your physical, emotional, and financial safety and that of the people you care about. A courageous person is not a person who is unafraid. As Mark Twain said, “Courage is resistance to fear, mastery of fear—not absence of fear.”
Action Exercise
Begin your list of fears by writing down everything, major and minor, that causes fear, stress, or anxiety. Think about the parts of your work or personal life where your fears might be holding you back or forcing you to stay in a job or relationship in which you are not happy. Once you have written down your fears, arrange them in order of importance, and then pick them apart one by one.
