Who wants to be a billionaire?

How do you see a billionaire?

Your mind doesn't really know how much money you have

- From chapter 22, If you want to be rich don't work for money

Have you ever heard someone say they want to be a billionaire? Maybe you are that someone. You see the lifestyle of these insanely rich people and you want that for yourself. It is a good desire. But there is an unseen catch.

Most people think that the journey to becoming a billionaire is a journey of having. They assume that you actually “have” your way to becoming a billionaire. Meaning that they think they are getting closer to becoming a billionaire by having things. But that couldn't be farther from the truth.

Yes, super rich people have things. But they don't get there by having things. Think, you must have noticed it yourself before.

A billionaire is someone that has given up a lot of things.

Still don't get it? Most people talk about what they will do to become a billionaire. You rarely find people who talk about what they're willing to give up to become a billionaire. The “giving up things” part is the real work.

What are you willing to give up for your financial ambition?

Dan Peña is used to saying, “Ladies and gentlemen, you can't have it all”. I listened to an interview of Bill Gates where he said that he didn't believe in weekends during his younger years. That is not a popular take today. People want to take it easy and still strike it rich.

This is not to say that you must give up your weekends and time with your family because you want to grow richer. Not at all. This is just saying that your ambition, whatever it is, will take something away from you. If you can't give something up, don't be surprised if nothing is coming down.

It could be as simple as giving up watching the news every morning to have more time and mental alertness to deal with your major priorities for the day. If you give up something big, a big break will come right back at you.

So when next you hear someone say they want to be a billionaire, ask the person:

So what are you going to give up for that dream?

- David

Buy trust

A business leverage

The rich don't work for money

- From Chapter 2, If you want to be rich don't work for money

I got a greater understanding of the value of trust this week. I had to make some financial transactions. There was a delay with one transaction and that caused a halt on all the others.

I wanted to get someone I do business with to get the other transaction going on the trust that the delayed transaction will be resolved. That was when I realized that there was no trust in the relationship. He was very reluctant.

Trust is more important than money. You should never work for money. But you can work for trust. And the only way to know you are gaining trust is to test it. If you never test your level of trust with someone, you will very likely have a false impression of the level of trust between you.

Trust takes your business relationship to another level. It is worth the things you trade for it. If you wait until the day you need trust before confirming you have it, you may have a very bitter experience.

Trust is a business leverage. Buy trust. And also, make people earn your trust. Give people opportunities to work to earn your trust.

- David

Get angry, get rich

Why settle for little?

This is why people grow old and go broke. The many years of complacency finally added up.

- From chapter 11, If you want to be rich don't work for money

Why do some people have superior knowledge but inferior results? Some even brag about their knowledge but they are not making it happen in the real world. I got to ask myself that question recently. Is my result a true reflection of what I know? Think about that for yourself:

Is your financial result a true reflection of what you know?

If it is not, why settle? Why not go all the way? I love this quote:

Go big or go home

Sometimes, we need to get angry about our current financial situation. We can tolerate anything until we get mad. That madness or anger is responsible for change. I had a reason to be mad recently. And I think I will stay angry about it.

Tolerance is why people grow old and grow broke. They never took charge. Those little everyday complacency added up.

If you are serious about growing your finances, something has to change in your daily routine. My day is divided into two: the first part of the day is dedicated to the things making me money today while the second part is dedicated to the things I'm working towards for the future.

If you are still stuck performing daily trivia, you need to break out. Get angry and get rich. Why is it that someone else has to determine your wellbeing? Always remember that true freedom comes by having a lot of money. Don't settle for little.

- David

Millionaire success habit I

This is about timing

A flawed prototype is better than an idea on paper

- From Epilogue, If you want to be rich don't work for money

Yesterday, I was listening to Bob Proctor. He talked about something so powerful for success. And that is decisions. He expanded on one thing from Napoleon Hill's book, Think And Grow Rich:

Successful people make decisions very fast and change them slowly (if they ever change them)

But this is not the way most people make decisions. Most people would say, “I'll think about it”. And that phrase is responsible for being average more than anything in the world.

A lady complained to me recently that she wanted to quit her job and live her dream. She had a quite substantial savings. So, I showed her an offer to put her saved up money to work where she can quit her job almost immediately. She is still “thinking about it” after a week. Of course, I canceled the offer because she wasn't ready. Even if she says yes, because it took too long it is no longer a genuine yes.

When Andrew Carnegie wanted to give Napoleon Hill the task of a lifetime, Carnegie gave Hill 60 seconds to answer (unknowing to Hill). Hill answered in 26 seconds.

Most people are trying to make their first attempt the best. They would be thinking for days about a decision that should be made in seconds. They would be analyzing on paper or opening an excel sheet for something that should be decided with a yes or no answer.

The millionaire success habit is making decisions fast. Get in the habit of making fast decisions when opportunities are presented to you.

- David

P.S. There is something you have been putting off for a while. Go do it now.

Magic in 6 months

How much do you want to be earning?

The moment you can imagine yourself there, it becomes easy to get there

- From chapter 12, If you want to be rich don’t work for money

I wrote a piece on Medium a few months back titled: This neglected way of becoming a millionaire is still the most compelling. And the idea is to write down what you want - write down a list of 7 things that you truly want.

If you haven’t done that before I would strongly recommend you to do so. But before that, I want to increase the stake for you.

Recently, I got challenged to write down what my life would look like 6 months from now. I was initially trying to write down what will be the result of the things I am working on right now if things go well. But I stopped right in the middle of it. I wasn’t dreaming big enough.

So, I canceled all of that and wrote one thing that will make me really happy that I had no idea how it is going to happen. No, I won’t share what it is. But it is on my mind refreshed.

So, I want you to write one thing that would really make you happy 6 months from now that you currently have no idea of how it is going to happen. Just write it down. And put it somewhere you can see it every day.

If you don’t know what to write, this question might help:

How much do you want to be earning 6 months from now?

Napoleon Hill suggests writing that goal in the present tense (with gratitude) on a 3X5 card and carry it everywhere with you.

Just do it. It’s magic.

- David

P.S. I just launched a free course at Northrock Business School for real estate agents. And the course is about sales. If you are involved in the real estate business, you might want to check it out —> https://nrbschool.com/p/the-millionaire-real-estate-agent

Loading more posts…