“Success leaves clues.” Tony Robbin
Want to become a millionaire?
Often wonder how people become millionaires other than winning the $830 million Powerball jackpot?
Well, wonder no more.
Billionaires like Bill Gate, Warren Buffett, and Elon Musk think and look at things differently.
Here are the 3 mindsets that they have in common and we all can learn from.
You make millions when you add value to millions
I used to wonder why star athletes or famous singers made so much money.
After all, they were just playing the sport they were good at, or singing songs that people like.
Then I realize the principle of adding value.
Athletes like LeBron James or singers like Lady Gaga are worth so much because they entertain millions of people.
Or people like Bill Gate or Warren Buffett enable thousands of companies to be successful or millions of investors to become wealthy.
When you add value to millions, you make millions.
Don’t trade time for money
Don’t get me wrong. I am not advocating laziness, or against hard work. But if you want to be rich and wealthy, you can not trade time for money.
Because time is finite, and there are only so many hours in a day.
You need to do something other than work 80 hours and kill yourself to become wealthy.
Rich people have ways to make money even when they sleep.
The reward is in proportion to the risk
Yup, “no risk, no reward” is a cliche, but it is also true.
There is a spectrum of risk-taking from fear of making any changes to recklessly jumping into anything that sounds promising.
And in between that spectrum, there is the calculated risk, where you carefully consider the risk and the reward of doing something before taking action.
There is a famous day trader whose secret of success was never to take any trade unless the gain of winning is 3–5 times the loss.
And he never trades any amount larger than .25 percent of his total portfolio.
In conclusion
There you have it, start looking at things with these 3 mindsets that could make you the next millionaire…
If this article helps you in any way, please leave a comment so I can write more articles related to this subject. Thank you!