If you want to develop a millionaire mindset, start with these four ideas.
#1. Focus on your highest value activities. It doesn’t matter if your highest value activity is product development, starting an ad campaign, or just plain old selling, just focus on the most important thing. A person with a millionaire mindset will not emphasize office furniture or much less significant time wasters. Remember that 20% of your activities result in 80% of your results. Focus on the most important things.
#2. Focus on assets. You need adequate cash reserves. Not just an emergency fund, but some funds to expand or make acquisitions or to advertise, etc. You need enough money you can “piss in the tall weeds with the big dogs”.
In addition, you need to max your Roth IRA and SEP IRA. Look into both types of accounts immediately. Ask a fee only financial planner about both these plans (and check references).
Outside of retirement plans, you still need more assets to earn money for you while you work at your main business or for your employer. These assets include businesses, real estate, bonds, stocks, IP, notes, your websites, and there are still more assets. You can also own property and other items like ships, planes, art, vehicles, and equipment that you can use, trade or sell.
Buy things that make money and use time as wisely as you can! Remember that time and healthy relationships are assets too.
#3. Squeeze the most out of each deal. Become a deal maker. Be persuasive. Sell assets and then buy better assets. Be creative. Remember, in order to not lose your shirt in a deal you must know exactly what you are doing. Do your due diligence and think things through! This leads to idea number four…
#4. Move quickly, anticipate and plan. Move quickly to put your plans into action. Don’t start procrastinating. Anticipate things that customers or competitors will say. Seek council from an experienced business consultant, or other professional if you think you need help. Having a good mastermind is a plus too. Lastly, create solid plans and back up plans. As Donald Trump says, “Take care of the downside and the upside will take care of itself.”
For more information, please click the link below: