Unlocking the Power of the RICH Mindset: How to Achieve Success and Abundance
There are countless business books bombarding us with information on how to become a wealthy businessperson. I have read many of the most popular books out there. The main thing I disliked about many of these books, was their emphasis on changing your mindset as opposed to providing legitimate, action-oriented tasks, that you can implement to drive home the goal of financial independence. After much reading and analyzing their message, I understood the importance of mindset. There are three big “Rich Mindset” points that I think are the most important.
Working by Yourself
The Right Group
Working by Yourself
In my opinion, the most important “Rich Mindset” point is Working by Yourself. No one is going to care about your success more than you. You will always be your own number-one fan. In the beginning, you may not have any employees, and from the initial idea to the start-up phases you may be a solo show. To succeed in the Working by Yourself “Rich Mindset”, you must hold yourself accountable, believe in yourself, keep pushing even when you don't see tangible progress, and continue learning. If you don’t gain the Working by Yourself “Rich Mindset” it will be incredibly difficult for you to see any single idea through to the end.
Leverage is a huge “Rich Mindset” point. Those who don’t understand leverage will never understand just how big they can become. Leverage is the difference between Joe Schmoe working 9-5, becoming a minor millionaire at age 70, through old-fashioned hard work, saving, and living well below their means as compared to Jeff Bezos or Elon Musk who are now multi-billionaires who probably couldn’t spend all the money they have in 10 lifetimes. It is the difference between someone who makes $50k a year and someone who makes a million a month. The basis is leverage, or in other words, understanding what is possible and focusing your time and energy on pursuing things that others perceive as impossible. Financial leverage is an investment strategy of using borrowed money but business leverage for a “Rich Mindset” is different. The “Rich Mindset” leverage is simply thinking big and investing your time and effort into those big ideas. Leverage is the difference between a person working a full-time job, an entrepreneur whose business is making $100k a year, a business owner whose business earns $1M a year, and a business magnate whose business makes $50M a month. All of these people have the same amount of time given to them in a single day as well as a year. The things they spend their time on are the difference and that is what separates them. Leverage is how you become a tycoon with an enterprise because you first understand that it is possible and shoot high.
The Right Group
The Right Group is an interesting “Rich Mindset” point because it is less a mindset and more an environmental point. However, before being able to change your environment, your mindset needs to change which is why I have it as one of the “Rich Mindset’s” most important points. The Right Group mindset is pretty simple. Surround yourself with the Right Group. This can mean friends, mentors, employers, and even family. Each group has its own effect on you and should be handled differently and for different reasons.
You embody your friends whether you want to or not and whether you realize it or not. The friends you choose to surround yourself with reflect you. Some “Rich Person” mindset books may say to completely remove them from your life and if they are truly detrimental to your path then that may be the best course of action. There is nothing wrong with having and keeping friends who do not want to follow the same path as you, just know they will not understand you and your choices. The reason they won’t understand is they won’t understand the level of leverage you are working with or the working by-yourself mindset.
Mentors are the quick way to be in the Right Group. Changing your environment can be difficult depending on your current situation but a mentor can coach and walk you through things that you had never considered. You want someone who has already done what you want to do. It may seem offensive but you want your mentor to be someone better than you, at least in a specific field you want to learn more about. Pick someone better than you so you can learn how to be better than them. This ties into changing your friends, if you surround yourself with people lower than you to make yourself feel better, you will always be the smartest in the room but you will never learn. I have had the opportunity to work with a lot of people who were older than me and was able to learn from them even though not as formal mentors. I saw what worked and what didn’t, what traits I’d like to embody, and things I wanted to stay far away from. Other ways to learn from people and get a mentor are through online groups, paying for a mentoring service, or just asking someone who is higher up than you in a company you work at or know of.
The Right Group and a “Rich Mindset” with employers work as follows. Work at jobs that have the skills you want. For example, if you want to learn how to recruit, work for a recruiting company, if you want to learn sales work for a multi-multi-level marketing company, or in the sales department. This is where the “Rich Mindset” comes in, instead of looking at a job for its financial benefits to you, look at it on a grander scale. Look at the skills you can learn as the primary benefit. With this simple change of mindset, you are now getting paid to learn a new skill from people who have tons of experience in the field.
Attempting to have the right environment when it comes to your family may be a bit more tricky. Unlike your mentor, friends, and employees, you can’t choose your family. When it comes to family you get what you get and you don’t get upset. I’m very grateful as my family has been a blessing, not a burden. Family can be similar to friends where they don’t understand the leverage or working by yourself mindset. One of the biggest potential issues that I’ve seen with entrepreneurs, or really anyone doing something outside the status quo, is the family’s negativity. If you notice that your family is always making negative remarks when you bring up ideas or discuss your current and future plans then it may be best to stop mentioning it to them. Instead of dealing with negativity which can wear you down after long enough, it is best to just show them instead of telling them. How many times have you heard famous stand-up comics, celebrities, or business owners say their family told them they were crazy and they should get a real job until they became successful? People won’t believe something is possible until it’s done, so just do it.
The “Rich Mindset” is not just one thing. It is a plethora of mental steps that once combined provide you with a new mindset that assists you in becoming wealthy. Working by Yourself, Leverage, and The Right Group are some of the most critical mindsets needed to succeed in business. Having a business is not easy. It is hard work and it doesn’t end, which is why having the right mindset is so important.