HOW BILLIONAIRES THINK
Making money is just a small part of what makes someone truly wealthy. Much of it comes from a person's mentality—how they think about money, how they think about time, their goals, and the way they define success itself. There are ways that the super-successful approach these things that are distinct from the average person. But by adopting some of these mental practices of billionaires
1. They Focus on Earning, Not Saving
In his book How Rich People Think, Steve Siebold distilled three decades of interviews he conducted with millionaires around the world into dozens of tips to help guide readers to reframe their mentality. The first distinction between rich and average: "Middle class focuses on savings. World class focuses on earning." He emphasizes that this is especially true in times of financial difficulty—when the economy takes a downturn or when their industry takes a hit. Instead of operating from fear and making decisions focused on protecting themselves, squirreling away as much money as possible and not making any aggressive moves, the super-wealthy see opportunity.
"Even in the midst of a cash flow crisis, the rich reject the nickel and dime thinking of the masses," he writes. "They are masters at focusing their mental energy where it belongs: on the big money."
Rich guys aren't putting their attention on how much money they have for retirement—they are looking for how they can turn the money they have into far more wealth. Having a few side hustles for when the going gets tough won't hurt either.
2. Work is Their Hobby
Billionaires don't get to where they are without a huge amount of passion for the projects they're working on, and "work" for them is often indistinguishable from vacation—they do what they love, and find ways to make money while doing it. As Siebold puts it, "Middle class earns money doing things they don't like to do…World class gets rich doing what they love."
Rich guys don't understand the concept of "work" in the traditional way—of showing up, putting in time, and getting paid for spending time doing something. They know that rewards come out of accomplishing something, and offering something that's in-demand. They see steps that need to be taken to reach their goal, but the focus is always on the goal, and the excitement they feel when thinking about it. So for billionaires, "work" is a lot of fun. But if you insist you need a few hobbies outside of your 9-5.
3. Wake up Early
Each and every single billionaire I interviewed said that waking up early is a big component of their success. Most said their wake-up time is around 5:00 a.m.
Early hours, when the sun is just starting to rise, exude a special kind of primal energy. You have more time to think in silence, work undisturbed and mentally prepare for the day. There’s also something wonderful about knowing you’re getting a head start while others are still asleep.
In his book How Rich People Think, Steve Siebold distilled three decades of interviews he conducted with millionaires around the world into dozens of tips to help guide readers to reframe their mentality. The first distinction between rich and average: "Middle class focuses on savings. World class focuses on earning." He emphasizes that this is especially true in times of financial difficulty—when the economy takes a downturn or when their industry takes a hit. Instead of operating from fear and making decisions focused on protecting themselves, squirreling away as much money as possible and not making any aggressive moves, the super-wealthy see opportunity.
"Even in the midst of a cash flow crisis, the rich reject the nickel and dime thinking of the masses," he writes. "They are masters at focusing their mental energy where it belongs: on the big money."
Rich guys aren't putting their attention on how much money they have for retirement—they are looking for how they can turn the money they have into far more wealth. Having a few side hustles for when the going gets tough won't hurt either.
2. Work is Their Hobby
Billionaires don't get to where they are without a huge amount of passion for the projects they're working on, and "work" for them is often indistinguishable from vacation—they do what they love, and find ways to make money while doing it. As Siebold puts it, "Middle class earns money doing things they don't like to do…World class gets rich doing what they love."
Rich guys don't understand the concept of "work" in the traditional way—of showing up, putting in time, and getting paid for spending time doing something. They know that rewards come out of accomplishing something, and offering something that's in-demand. They see steps that need to be taken to reach their goal, but the focus is always on the goal, and the excitement they feel when thinking about it. So for billionaires, "work" is a lot of fun. But if you insist you need a few hobbies outside of your 9-5.
3. Wake up Early
Each and every single billionaire I interviewed said that waking up early is a big component of their success. Most said their wake-up time is around 5:00 a.m.
Early hours, when the sun is just starting to rise, exude a special kind of primal energy. You have more time to think in silence, work undisturbed and mentally prepare for the day. There’s also something wonderful about knowing you’re getting a head start while others are still asleep.
0 Comments