Do you want to be a millionaire?

So I was at walmart today(yeah yeah, I know), and I was looking at this couple penny pinching even on ramen noodles, counting out 20 or 30 packs. It made me think about how I live my life and use my money to make more money so I dont have to penny pinch.

Most of you know I am quite big on the idea of outsourcing, making something work small then outsourcing it to scale.

How many of you are here to make it by or to become millionaires(thousandaires?). If you are here to achieve a goal of becoming independent or a millionaire, or such, what is your general plan to do that? (not your methods that you will be using but what general traits you are applying to get to that goal)

A long time ago I realized that what separates those who have to scrimp for every penny and those who never have to worry about it is a mindset, a way of thinking. People who make money, a lot of it, can always make a lot of money because of how they think.

Good times, bad times, up market, down market, boom, bust, recession or depression, it doesn't matter. They'll find a way. Over the last year or two I've met several multi-multi millionaires; each of whom has made millions, then lost it then just went out and made it back again.

A few of them have taken me under their wings and are teaching me not "what to do" but "what to think."

I was always a "lack" mentality person before, even though I've started, run and/or sold several businesses in my life, I never "got it" until recently. I always created a business because I thought that being my own boss was the ultimate goal. Unfortunately, that was too dependent on me personally putting in the hours. Sure I was the boss, right up until a supplier decided to stop supplying, or a market just vanished in a period of weeks or whatever. But recently I've gone back to the 9-5 world (three years ago this week actually) and it has been incredibly beneficial for my mindset. I'm surrounded by people who have "lack" mentalities like I used to. I'm surrounded by people with no ambition or goal beyond getting fucked up this weekend. I'm surrounded by people with no hope, no clue and no desire for anything better.

And forcing myself to stay there has been an incredible lesson for me.

So my goal isn't a dollar figure. It's a way of seeing the world. My plan for achieving it is simple: watch what others do who have achieved what I want. Then do what they did.

I'd rather learn everything I can from a person who has managed to make a million, then lose it, then make it again than to actually be GIVEN a million dollars. Because to me, knowing how to do it the second time is more valuable than just lucking into it the first time.

This is a great post. We don't get many mindset threads here. Everything is about "how" instead of "why."

+rep

thats cool you guys learned this mindframe early. It literally took me about 10 years of owning businesses to finally understand it. It was a simple book that talked about being a business owner instead of owning and working a business.

Once I finally learned how to let go and manage my business, I became more successful.

I have a long ways to go, but I think i have the correct mindframe now.

Scuba,

What you said makes a lot of sense to me. I make a decent amount in my day job(100k+) and online is ramping up. I noticed this very early on, my parents made a lot of money, and these days they are millionaires, but my dad works 7 days a week, and only takes 4 - 6 weeks off a year.

The mindset is really what it is about, it is about a taking a good idea as far as you can, scaling it using other people, and letting go by keeping ownership and getting someone to manage it for you, or selling it outright.

I have noticed this in most aspects of life, you are right it isnt just about money but the mindset, you dont have to make a lot to become a millionaire, just spend no money, or you can do it properly and have fun at it.

chillyd said:

thats cool you guys learned this mindframe early. It literally took me about 10 years of owning businesses to finally understand it. It was a simple book that talked about being a business owner instead of owning and working a business.

Once I finally learned how to let go and manage my business, I became more successful.

I have a long ways to go, but I think i have the correct mindframe now.

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What was the switch which made you realize what you needed to change?

you know i dont blame the people that get up every morning or anytime of the day to do a 9-5 job i blame the schools and governments they have brain washed alot of people to think that the only way to be rich or make a living is to do a 9 to 5 job thankfully i was one of the lucky people to be naturally blessed with a millionaire mindset i remember when i used to work a 9-5 job i used to have this bad attitude towards working like i used say to my self why the fuck am i busting my ass for this mother fuckers this is not getting me anywhere i tell ya i was a cocky mofo cocky and pround i guess thats what made me what i am today.

What was the book you speak of? Is it the E-Myth revisted?

Yes. Like in the above post, it's all in the mindset.

I've wanted to be a rich, powerful man ever since I was little, and I saw Scrooge McDuck swimming in his pool of gold. I wanted that.

When I first found out about IM, I immersed myself in it. It lured me in with promises of riches, freedom, and most of all it seemed a lot more exciting than programming. I started small, and for the first 3 months I didn't make a single cent. Then I got deeper and deeper into it, and I realized the value in building systems and how powerful recurring income can be. I picked up a few self help programs on the way, and they helped immensely. After about half a year of studying IM, I just woke up one day and everything just clicked. I saw IM in a way that I've never seen it before, and I completely got over my fear of spending money to make money. I believe that's the biggest factor that affects people today - fear. Fear to try, fear of success, fear of failure. Once I got over that and really started pushing myself and being diligent, the money started rolling in.

What fascinates me is how different the "security" mindset is from the "entrepreneur" mindset. 99% of the people I meet have the security mindset, and even though they admit that they're not happy with their job, they don't want to do anything about it. Some do, but rarely follow through. I realize I used to be one of these people, and now that my whole way of thinking is changed, I feel like Neo in the Matrix. I see the world in a much clearer quality of perception than I ever did before. I'm not scared of missing a payment or anything like that. When I want to buy something, I ask myself "how can I afford this?" instead of "I can't afford this". Small things like that make all the difference.

What I like about IM is that this is truly the only industry where you have the freedom to write your own check. How many jobs out there exist where you can still get paid for work you did 3 months ago? I wouldn't trade my knowledge of IM for anything else.

This isnt a book, we are talking in general terms about life and improving ourselves/our lives.

r-webb-k said:

you know i dont blame the people that get up every morning or anytime of the day to do a 9-5 job i blame the schools and governments they have brain washed alot of people to think that the only way to be rich or make a living is to do a 9 to 5 job thankfully i was one of the lucky people to be naturally blessed with a millionaire mindset i remember when i used to work a 9-5 job i used to have this bad attitude towards working like i used say to my self why the fuck am i busting my ass for this mother fuckers this is not getting me anywhere i tell ya i was a cocky mofo cocky and pround i guess thats what made me what i am today.

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dude,


In a nutshell, there is only 2 ways; make money work for you or you work for the money.

If everyone tries to make money work for them - the money can't work, as no one is doing any work.

Basically, you should get people with these 9-5 mentality to work for you, and you keep the large profits.

Many people love the 9-5 life as it has many benefits, like job security etc.

Thats just how life works. Not everyone is in for the money.

9-5 isnt a negative thing either, but it is how you apply the money from what you get from it. Worst - living paycheck to paycheck, moderately better - saving some, but what everyone should be doing is investing it, preferably in your own business but other peoples if need be.

toyo said:

dude,


In a nutshell, there is only 2 ways; make money work for you or you work for the money.

If everyone tries to make money work for them - the money can't work, as no one is doing any work.

Basically, you should get people with these 9-5 mentality to work for you, and you keep the large profits.

Many people love the 9-5 life as it has many benefits, like job security etc.

Thats just how life works. Not everyone is in for the money.

Click to expand...

yes its true that some people loves working naturally but damn the way you put it tells me your a very selfish person man you ever asked your self this questions why dont the governments just pay everybody in their nation after all the government dont work hard at all all they do is pass bullshitt laws and at the end of the day they will take your money and then pass laws to print more money why cant they just print the money and give it to their citizens for being nice people i should create a government that pays people if they dont commit crimes

r-webb-k said:

yes its true that some people loves working naturally but damn the way you put it tells me your a very selfish person man you ever asked your self this questions why dont the governments just pay everybody in their nation after all the government dont work hard at all all they do is pass bullshitt laws and at the end of the day they will take your money and then pass laws to print more money why cant they just print the money and give it to their citizens for being nice people i should create a government that pays people if they dont commit crimes

Click to expand...

There's nothing selfish about it. If people didn't start businesses, there wouldn't be any 9-5 jobs in the first place. It's a win win situation.

As rwebk said its just quite stupid that goverment says go school bla bla bla allmsot everyone say it oh well im glad @ school i am ( studying for electric worker ) cant remember what it is in english they dont do that shit.

But as example my mother has some univercity flower wtf ever it is education and i doubt she never had job that the education would supposed to give.

And my dad was in business school and works as storage guy

And if you are super educated no one wants you to even their cleaner since when you find better job you will go after that for sure. And still they need tell you how to clean lol

But thats life lol

Thanks for creating this interesting thread and thanks to scuba for a really nice post.
"Do you want to be a millionaire?" - The title of the thread could be a little better imho. But I don't know a better one atm tbh!

In my opinion it's all about goals and believing in achieving those. When I was 17 I knew I am going to own a [whatever car you want - in my case a Lamborghini] somewhen. It sounds stupid, you are right. But it was not just a typical never-gonna-happen-dream, I fuckin knew it there. Three years later I still know it and I'm now three years closer to it.

I want to be successful, I want to achieve something, I want to be Master of Science and drive Porsche in five years. And I want my Lamborghini somewhen later. If I keep believing in it, I will certainly achieve all this.

I want to be somebody. You know. I look at people at university or my regular job and their little lives. Seriously, it either makes me sick or I just laugh at them, depending on my mood. I cannot imagine how they can be happy with what they got or with that future they are looking at. But I guess this is where you have to watch out that success and everything does not get too important. But I like it like that and I think it perfectly fits me.

But there you gotta be really careful imho. I don't wanna end up working 60-80 hours a week just to get that stupid damn car.

Well that's how I see it at least. Don't wanna see it somehow else tbh.

I hate how education is seen as a way to a job, I have two degrees, but I went because I truly wanted that knowledge and experience. Even if you never want to work but start your own companies, university is a great experience and adds to who you are.

I knew a guy in New Zealand who made his first million before he was 17, he still went to university while running his company because he wanted the knowledge, connections and social scene.

Though I am only 20, I have come to two critical realizations.

First, money doesn't buy happiness, but lack of it can buy misery very easily.

Second (and somewhat related), learn something new everyday. Read every day. Your brain is like a muscle, if you don't exercise it regularly it will atrophy. Most successful people have an unquenchable thirst for knowledge.

Moreover, I can't remember which financial guru said the following, but it is quite appropriate:

"First come in the innovators, then come the imitators, then come the idiots."

A lot of what we do online is imitation, but we should all strive to become innovators as soon as possible.

Stunna, that was Warrent Buffet. I have made more headway than most my age, at 25, but I am impressed at your wisdom for your age. The younger you start the easier it is to build up and get it started. Money builds, the first 200k is the hardest.

For my own personal story, when you combine mysticism and mentalism with marketing = millions ... Scuba's right on it, but it's really more powerful, and more deep... keep looking my story will conflict with the religious and moral fabric of many people, that is why I'll withhold it, also, some people will simply not believe it

This has been a very inspiring thread thus far. The intrigue of working for yourself and achieving personal set goals by your own means is what drives me.