Having a Wealth Mindset

I was reviewing some notes recently from a conference I went to a while back, and I ran across a key concept if you want to build wealth in your life. Mindset is one of the biggest, if the THE biggest factor in whether you succeed or not. You can have all the knowledge in the world, you can know exactly HOW to achieve what you want, but unless you have the right mindset to pursue it and see it through, it is worthless. Many people know how to be successful, but never do because they don't think in the right way. Here is a brief breakdown from my notes on the mindset of the Broke versus the mindset of the Wealth.
Broke mindset

• Dreams
• Want a better job
• Saving money
• Net Worth
• Pay off debt
• Buy and Hold
• Appreciation
• Look Rich
• Use their own money

Wealthy mindset

• Goals
• Self employment
• Invest
• Cash flow
• Arbitrage
• Trade
• Passive income
• Look broke
• Use other people's money

Look at the difference in the mindsets. It is night and day different, so as you would expect, so are the results. The one on the list that I would tend to disagree with is the "buy and hold" versus "trade", as there are many instances that buy and hold makes more sense than buying and selling, but depending on the situation either could be the best option (we will touch on this at a later blog post). That is why education and having the right team around you is so important as well; knowing what to do in any given situation to give yourself the best result. No situation is exactly the same, so you need to know how to respond to anything, or at least have a highly qualified group of people around you that does and that can advise you.

Look at the list and honestly assess your own mindset. Which one do you most align with? Where do you need to make some adjustments? After doing so, take action and deliberately change your mindset to reflect that of wealth instead, and I promise you will see the positive results in your business and your life.