The Link Between Millionaire Thinking and the Entrepreneur
Introduction: There is a direct link between learning to think like a millionaire and learning to become an entrepreneur. Becoming a successful entrepreneur requires the same kind of thinking. It's all about developing the mindset for both financial and personal success, which can be re-stated as a mindset for successfully reaching your goals in life. The difference between the two is the aggressive nature of most entrepreneurial thinking, and that rests on the fact that entrepreneurs are actively promoting their own business. If you want to be a millionaire, you can do it by progressing in a business owned by someone else, by working hard at earning money, or by starting your own business.
In this article, the commonalities will be assessed and examined. The first thing both share is the need for excellent communication in all things. You have to know how to talk to people, be clear and specific, use effective e-mailing strategies, and network. The second part they both touch on is resiliency. The entrepreneur must be aggressive, but not without reflection, and is required to immediately determine the important decisions from those that can be reversed as needed. Those who write about entrepreneurial experiences express less concern about taking some time to think things through. The attitude appears to be more risk-taking than that developed by the life of a millionaire. Depending upon your own natural personality, you must decide your own level of aggression and risk.
Studies report that entrepreneurs tend to already have the mindset needed to make money, and become aggressive when they have developed something they feel is the next "big thing." The problem with that kind of thinking is it is from their personal perspective and often lacks an objective view. Many entrepreneurs who have not taken time to develop a strong mindset for what it will take to gain wealth, are often narrowly focused. They over value what they have produced to the detriment of their progress. Many think that because other people tell them they have something that is great, that they really do. They will learn that people often tell you what you want to hear, and it is often just not the truth.
Besides having excellent communication, being aggressive and resilient, both value learning everything you can possibly learn. Gaining a diverse knowledge is so often the key to keeping the whole brain active, being able to talk to people from all walks of life, and just being a more interesting individual that others enjoy.
Communication Is the Key
This is something everyone knows, but it is also what few people develop well. The more the world moves toward the shortened, clipped informal mode, the less people are able to communicate with real thought, express themselves clearly, and with meaning. Words matter. Spoken, written, visual messages, once expressed, become part of who you are. If you give little thought to those expressions, you may be carving a path for yourself that is not in your plan.
It doesn't matter if your communication is through e-mail, notes, newsletters, phone calls, Skype, or in meetings -- once you emit the verbiage, it becomes like a balloon that follows you and stays attached at the wrist. Sometimes not saying anything will give a clearer message; or at least, pause and think before you express yourself. It is one of the most important steps you can take that will build your reputation in a positive light. If you have an Internet company, you may think communication doesn't matter, because you are behind the scenes. It does for several reasons. You have to express yourself on your website, handle clients who contact you, and work with those who support your website, product production, and manufacturing. Every time you pause and choose words that are specific, clear, and professional, you will be cinching the habits for excellent communication.
People will form an opinion of you and your company based on your communication in whatever mode it is. Don't put stumbling blocks in your own path, because you fail to communicate effectively and appropriately.
E-mails are the most used communication method today. Don't take writing e-mails lightly. There are some parts that you need to pay attention to. First the subject line. That is the first thing the reader sees. If you think about it, when you open your e-mail, you glance at the subject line before anything. If it is the same that you previously sent, it is more than likely a reply to an e-mail sent by you. Think about what you want the other person to read. Write something that is clear, specific, and will grab attention. Don't try to be cute or overly clever. Give it some thought. Another piece of good advice is to keep a list of some of those effective subject lines and make them easily available. The same goes with e-mails. You would do well if you had some go-to lines for when you pitch a proposal, or require a favor. It's okay if the same person gets that sentence again later. It is like your mantra. For example, "I am available to take your call 24/7," or "My goal is to meet the requirements you have set," or "I will enjoy working with you on this project," and "Your feedback is important to make sure your vision is my focus." Let a client know that it is okay to be frank with you about your work. Let them know that, as a producer, you demand the client tell you when, and if, the work done is to the client's satisfaction. Clear the way for people to be honest and you will keep them as clients for the long run. One more part of an e-mail that will personalize it and bring the reader's attention to the crux of the message is the post script. Make it more informal, specific -- and keep it short. It is a summary written in few characters.
If you have a web store, marketing depends upon the quality of your website front page, the ease of moving around on the site and use of it. If you have your own business, you can hire someone to do this, but you cannot rely on someone else to make it yours. You need to learn, even if you sit beside the person who does it, and you watch. The worst thing a successful business can do is give the decision-making of any part to others. Even images can have negative connotations in your business that the website developer is unaware of. Images are an important part of communication on the site, on your paperwork, your packaging, and your advertisement.
Another important communication is in your writing. Your focus should be on the value of your product, not the free trial, or what you have; it should be on how it can help the consumer. You do not sell a product by explaining all the parts and how they work; you sell it by telling the customer what it will do for them. It will make uphill riding a breeze; you will have no more gear-changing hassles, and most of all, you will find the seat as comfortable as sitting in your recliner, are examples of this. Tell how your product will take the pain out of their lives.
Learn Everything Possible
The mindset of a successful entrepreneur or anyone wanting to attain wealth in their lifetime means a life of learning. If you don't enjoy learning about the world around you, new ideas, and diverse thinking, then it will slow you down tremendously. Those who are serious about working hard to become wealthy must be willing to become a lifelong learner.
First, you have to work at things that will totally open your mind. If you are an artist, then you will have to work at the more functional side of learning. You will want to learn more technical things Learn how to change a tire, set up a web page, a blog, and learn about other people, other countries, the world's geography, scientific news, and political ideas. If you are a reader, but less creative, then take up a craft, a musical instrument, art, gardening, building or sewing -- something that opens up the side of your brain that tends to get ignored. Be intentional about this and don't dismiss it easily. Part of earning success, however you define that success, is continued learning in many fields of study. Go to events out of your norm. Travel, read, see movies, meet people, and get active in areas you have never before given time. It will make a difference in both your financial and your personal life.
The wonder of the Internet has made learning easy and free. This is an attainable step to take. Find something new to read every day. Listen to a different kind of music or news station. Make an effort to broaden your base. Use your library and take a rest from electronics; learn to play a sport, take a yoga class, or join a singing group. Attend lectures, college recitals, or take free courses that are offered from many prestigious universities. Make new friends. You can learn so much from other people. The point is to push yourself beyond what you know and what you do now. Even though becoming wealthy is very hard work, this is part of that work. Don't reject doing things because you are too busy. Your thinking will suffer. Think of it as cross-training for life success. Balance your time between focused work, learning, engaging in physical exercise, healthy eating, and sleep. It is a whole-body experience to maintain focus toward your goals. Breaks must come in the form of new learning experiences. They will rejuvenate your thinking, jump start your ideas, and bring out more creativity.
A method for freeing up more time is to put those simple and repetitive tasks on speed-dial. Decisions that are lower in importance should take much less consideration and can often be reversed. Stay involved enough to make sure you know everything that is going on, but find support to assist you. Use your computer to keep you focused on tasks, keep you on time to any appointments, and up to date on your business. There are tools for about everything you need to have your numbers at your fingertips. Evaluate what you do, how you do it, and why you do it -- often. Listen to others and observe what is going on in your work and in your life. Stay alert by getting enough sleep and exercise, and let your passion flow.
Be Aggressive and Resilient
The nature of the entrepreneur is aggression. A person who wants his own business has been thinking about it for a while and jumps in with both feet. He moves fast, pushes through doors, and fights to get his product "out there." Aggression can be expressed in verbal, physical, and emotional ways. If aggression is adapted to bring an alertness to danger, or for protection, without causing pain or violence, then it can work for a person. The chemicals in the brain vary and can change levels with changes in behavior. In other words, a person can strengthen behaviors that reduce or increase their aggression. For some, the lack of any aggression is a problem. Studies have noted that good social relationships stymie violent aggression, as does a good support system. Increased aggression can be learned when a person is required to work through a difficult problem in a short amount of time. A person can learn to develop behaviors that keep them pushing forward, but without violence or danger.
Aggression in business is often seen as business savvy. For those who are focused on gaining wealth and maintaining that wealth, it pays to be aggressive in learning, in focus, and in the art of deal making. Aggression, like all emotional-psychological behaviors must be tempered and balanced. Stopping to consider what your morality is based on, and removing obsessiveness, is often the first step to this balance. Knowing yourself is what it all gets back to.
Most entrepreneurs are inventive, creative types who create a product and think they will find immediate success. Without the right mindset to approach a successful business, even a creative entrepreneur can fail.
Resiliency is another matter altogether. Resiliency is the ability to stick out a mission in spite of the difficulty. It is a characteristic that keeps a person from despair and negativity. Resiliency is the flexibility to stay positive, to see the opportunity, and have the strength to withstand strong challenges.
One study talked about children who grow up always being told they are good, that what they do is wonderful, and they are a success. These children lose every chance of learning resiliency. Without a chance to face failure or hardship, a child cannot learn to more than cope, overcome, or work though problems and challenges. A society that protects children from struggle is not doing them any favors.
Adults who have never had this experience, or even dealt with somebody's disapproval, must figure it out. Being resilient is not being aggressive in a bad way. It is not giving up, staying the distance, and problem solving. In American schools, this is one of the downsides. Children are not given these opportunities and allowed to learn independently.
Example: James was an entrepreneur in that he had created several new software programs and apps. He felt the most recent app was something everyone would want, so he set up a website and offered it for sale. It didn't do well, so he ramped up his website, hoping to attract more customers. After a few months he had his friend take a look at it and tell him what was wrong. His friend told him the website gave little information about the product. It was cluttered with too many graphics and would confuse even a techie. He decided to go back to inventing and forget selling.
Then one day, he got an e-mail about the app. Someone wanted to buy it and the rights that went with it. It was more money than James ever thought he would make, so he took it and was very happy -- until he saw his app on a website at a higher cost than he'd listed it, and it was selling like hot cakes. The guy was getting rich. James felt like a failure and stopped inventing.
1. Successful entrepreneurs are usually very creative people who have gone out of their way to connect with others who are like themselves, who are in the business, and who would be great mentors or role models.
2. Networking with others is one of the very best ways to add knowledge to your repertoire.
3. If your product is not selling, it might be because nobody wants it; or it might be you haven't done a great job selling it. You have to become a salesperson to gain wealth. You sell your product, service, and yourself.
4. Aggression is often associated with violence, pain, and harm, but if adapted and used to push yourself in acceptable and legal ways, it can be helpful.
5. Resiliency is currently vacant in our schools. Teaching children to develop resiliency requires them to work through real problems, challenges, and difficult situations. If requires them to fail and move on.
- The Millionaire Mindset
- Thinking Like a Wealthy Person: Strategies for Creating and Implementing a Millionaire Mindset
- The Process of Goal Setting in Becoming a Millionaire
- Internet Opportunities Millionaires Recognize
- Individual Characteristics of a Millionaire
- Incentives and Benefits Of A Healthy Workplace
- The Current Landscape of the Presentation of Your Resume
- A Mindset Shift with Kaizen
- Developing The Building Blocks of a Psychologically Healthy Workplace
- The Process of Lawful Employee Termination
- Safety Workplace Health Issues
- Maximizing Success: Product and Service Management
- The Relationship Between Consumer Rights and Business Ethics
- Business Team Building: Types of Teams
- How to Create the Appropriate Tone in Business Communications