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Think Like a Billionaire: How to Get Rich Even If You Don’t Have Much Now

Think Like a Billionaire: How to Get Rich Even If You Don’t Have Much Now

Have you ever wondered why some people are rich and some poor? You may think it’s the luck of the draw – the family you were born into, the country you live in, the abundance or lack of good jobs. Yes, these can be factors, but the difference between being rich or poor primarily boils down to one thing.

Are you continually poor and struggling to find enough money, looking at rich people and finding it unfair? Or even someone with a good amount of money and wondering why some people struggle to get the money they want when you find it quite easy?

Abundance Mindset vs. Lack Mindset: the Strong Predictor of Your Future Wealth

Instead of blaming conditions and circumstances as to why some people are rich and some people are poor, consider your state of mind – or rather what type of mindset you have.

Our beliefs are very powerful and can steer our lives in the direction of what we firmly think about. If all you’ve experienced is being poor, then you are likely to continue to have a belief that you will remain poor. On the other end of the spectrum, if you’ve always been rich, you’re more likely to have a belief that you will stay being rich.

It’s all about whether you have an abundance mindset or a lack mindset but what are the differences between these two powerful mindsets when it comes to our money situation?

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10 Key Differences In Behaviour and Mindset Between Rich and Poor

Here I’ll discuss the key differences between an abundance mindset and a lack mindset and how this affects your success with money.

Skepticism vs. Trust

Poor people tend to have a more skeptical view of things. They have a belief that people are out to get their money or rip them off. Do you find you constantly think “I’m not paying that much!” believing that a company is being greedy by pricing something that high? This mindset is coming from a space of lack – lack of money and grudgingly parting with what ‘little’ you have. The focus is primarily on lack.

Rich people are more likely to have a more trusting viewpoint on many subjects. They are more trusting of people, non-skeptical of people’s motives and parting with money. Yes, this is easy if you have more money, but it’s down to the abundance mindset and not focusing on losing something but rather gaining regarding what you’re buying.

Problems vs. Solutions

Poor people generally have a negative mindset when it comes to all areas of life – not just money. They look for the problems rather than the solutions and use these to blame for their circumstances e.g. where they live, the government, not enough jobs, or just other people and their actions. Excuses about why they’re not successful i.e. creating problems, not solutions, is a common mindset.

Rich people, even if they grow up with negative circumstances, are more likely to see it as a chance to take responsibility and do something about it. They accept that life throws obstacles in the way but it’s up to them to find a solution and not turn it into a reason not to succeed.

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‘They’ vs. ‘We’ Mentality

When working in a job, poor people are more likely to separate themselves from the job or company they work for. Creating a ‘them and us’ perspective means you’re essentially not taking responsibility for your role and your role in the company as a whole. When a complaint arises that a service is taking too long, it’s easy to say “it’s because they don’t employ enough staff” being quick to blame and separate from responsibility.

When you have a ‘we’ mentality in a job role, you are showing investment and commitment. It’s about showing your belief in something or someone which spreads trust and investment from others. Would you rather give a tip to a waiter who apologized on behalf of the restaurant or someone separating themselves from the problem who began pushing the blame onto the middle-management?

Assumptions vs. Questions

Making assumptions can be very harmful and keep you in a lacking state of mind. Poor people are more likely to give up because of these assumptions e.g. thinking “I doubt there are going to be any good jobs in this area, so there’s no point in looking” is immediately cutting yourself off from possible opportunities. Lack of questioning and research keeps you in the same poor situations.

On the other hand, the habit of questioning will give you more opportunity to succeed. Thinking ‘what if’ is very common in people who are rich and successful – “what if I ask around about possible jobs?”, “what if I just send an email to the recruiting department in case they have an opening?”. They see possible potential in everything rather than shutting it down with negative assumptions.

Money Importance v.s Time Importance

Poor people will believe their life will ultimately be better if they work more hours for more money. But they are trading precious time they’ll never get back for a few extra dollars. Their focus is more on lack of money and having to compensate through extra work rather than focusing on the quality of time they have.

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Rich people are more likely to focus on the importance of time over money. They see experiences as important to their quality of life and worry less about earning that extra paycheck. Their jobs are more centered around enjoyment of what they do rather than focusing primarily on the money they’re earning.

Criticizing vs. Gratitude

Complaining and criticizing is a common trait in the mindset of someone who’s poor. This has most likely come from embedded beliefs passed down from generations – seeing the majority of things as wrong rather than right. They are more likely to see things from a negative perspective rather than a positive one.

An attitude of gratitude is a healthy mindset that promotes abundance. Counting your blessings and not taking anything for granted brings more of what you appreciate into your life – including money. This is a common mindset of successful people in all areas of their life.

Competition vs. Creation

Poor people are more in competition. This means they see what other people are doing and emulate them. The problem with this is that they never think of a different way of doing something, creating the lack of growth and outside-the-box thinking that brings success.

Successful people see themselves as able to accomplish without comparison or competition with others. They look for different ways of doing and achieving a goal rather than follow what others are doing. This means they are less likely to cut themselves off from getting what they need.

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Amateur Advice v.s Expert Advice

Seeking advice to help yourself is a good thing, but people who are unsuccessful tend to take free or cheap advice from unqualified peers at face value and rarely question or challenge it. The downfall of this is, they’re completely trusting what could be wrong or unhelpful advice meaning it could lead them down the wrong path.

Rich or successful people are likely to seek out expert advice and aren’t afraid to spend money on getting the best there is if it means gaining more success. Expert advice means a thorough, wider variety of options and is seen as more of an investment rather than an expense if it means being on the road to achieving success.

The Cheapest Way vs. The Best Way

Similar to the above point, poor people have a mindset of always trying to find the cheapest deal. Take buying clothes as an example – always heading to the cheap, bargain section and buying a few items may seem like you’re saving money but most of the time you may not even end up wearing the clothes. Making these decisions from a mindset of lack can end up costing you more.

Rich people will invest more and make more conscious decisions about what they’re buying – not necessarily for the cost but the longevity and investment in what they’re buying. They will more likely buy an expensive item of clothing knowing it will get good use than waste money on deals.

Distraction vs. Thinking

People who spend a lot of time being distracted by watching TV or other forms of digital entertainment are taking away their time to invest in growth and critical thinking that could lead to becoming more successful. They are less likely to read books or enrol into courses opting to find distraction instead.

The abundance mindset is shaped by little distraction and rather by getting involved in activities that better yourself and help you see different perspectives. Knowledge is power and taking control to understand yourself, your abilities and your capabilities rather than get distracted will give you more opportunity to develop the abundance mindset and gain success.

So, it doesn’t matter where you’re starting regarding the amount of money you have; it’s about your attitude and mindset. A mindset and perspective of lack will only bring you more of the same so why not turn that around? Get into the habit of thinking from a space of abundance and see how it changes, not just your money situation, but your life as a whole.

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Jenny Marchal

A passionate writer who loves sharing about positive psychology.

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Last Updated on June 29, 2020

How Does Setting Goals Lead to Success?

How Does Setting Goals Lead to Success?

As well as being the founder of Lifehack, I also help people on a one-to-one basis through life coaching.

I’ve been doing this for more than 10 years now and have helped hundreds of clients reevaluate their lives and turn inertia into progress and failure into success.

A common theme I’ve noticed with many of my clients is that they don’t have any definite goals to aim towards.

This has always surprised me, as goal setting is frequently recommended by self-improvement gurus, performance coaches, and business leaders. It’s also something that I learned at university and have implemented successfully in my life ever since.

If you’re similar to the majority of my life coaching clients and you don’t have any definite goals to aim for, then you’re missing out on what is probably the most powerful personal success technique on the planet.

The good news is—you’ve come to the right place for help with this.

In this article, I’ll explain exactly what goal-setting is and how you can put it into action in your life. As you’ll discover, it’s a key that can open many doors for you.

An Introduction to Goal Setting

Goals can be big, small, short-term, long-term, essential, or desirable. But they all share one thing: They will give you something to aim for.

This is important. As just like a ship without a destination, if you have no goals, you’ll end drifting aimlessly.

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Goals give you purpose. They also give you drive and enthusiasm. In other words—they make you feel alive!

If you’ve never spent time setting goals before, then here’s what I recommend you to do:

  1. Take some time to evaluate all areas of your life (health, career, family, etc.).
  2. Determine which of these areas need a boost.
  3. Think of ways in which to achieve this (for example, if you want to boost your health, you could eat less and exercise more).
  4. Set some definite goals that you would like to achieve.
  5. Write down these goals, including the date you want to accomplish them by.

Now, before you get started on the above, I want to make one thing clear: Goals are not wishful thinking!

By this, I mean that while your goals should be ambitious, they shouldn’t be unrealistic or verging into fantasy land.

For example, wanting to be promoted at work would be a realistic goal while wanting to be President of the United States might not be. (Of course, feel free to prove me wrong!)

If you’re new to the world of goal setting, then I’d recommend you start with easy-to-achieve goals. These could be things such as eating a healthy breakfast, walking more, taking regular breaks from your screen, and sleeping early.

These simple goals might take you a month or so to achieve, including making the daily practices a habit.

Once you’ve successfully accomplished these goals, you’ll find your self-confidence grows, and you’ll be ready to set yourself some bigger goals.

Here are a few examples that you might want to choose or adapt to your personal circumstances:

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  • Run a marathon
  • Buy a new car
  • Learn a new language
  • Travel around the world
  • Change career
  • Retire early
  • Write a book

I’m sure you can think of many more things that you would like to achieve. As the famous Shakespeare line neatly states: “The world is your oyster!”

Now, the trick with big goals (as I’ll show in an example shortly) is to break them down into small, bite-sized chunks. This means you’ll have a big end goal, with smaller goals (sometimes referred to as objectives) helping you to gradually achieve your main aim.

When you do this, you’ll make big goals more achievable. Plus, you’ll have an easy way to track how far along the road to your goal you are at any given point in time.

Let’s see this in action…

Going from an Idea to a Global Success

Everything starts with an idea.

And there appears to be no shortage of good ideas in the world. But there is a shortage of people willing to put these ideas into action!

This is the essential step that will move you from being a dreamer to an achiever.

Back in 2005, when I first had the idea for Lifehack, I really only considered it to be a platform to record some of my productivity and self-improvement techniques. I’d developed these during my time at university and as a Software Engineer at Redhat.

However, based on the number of views and positive feedback I received on the first few articles, I quickly realized that Lifehack had the potential to be a popular and successful website—a site that could help transform the lives of people from all across the world.

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It was at that point that I decided to set some goals in place for Lifehack.

The way I did this was to set specific targets for different areas of the business:

  1. Number of articles published
  2. Amount of time spent writing and promoting the articles
  3. Number of new readers
  4. Number of new email subscribers
  5. Revenue generated from ads

For each of the above, I set weekly, monthly, and yearly targets. These targets were realistic but were also ambitious. In addition, I wrote down the necessary steps to take to achieve each target within the specified time frame.

This goal setting had a powerful impact on my motivation and energy levels. Because I could clearly see what needed to be done to achieve each goal, I found a purpose to my tasks that made them exciting to complete. Each small target achieved took me closer to accomplishing the bigger goals.

For example, my initial goals for writing articles were for just five a week, which equated to 20 per month and just over 100 per year. However, as I dedicated more and more time to Lifehack, I found I was able to exceed my initial goals.

This led me to increase the numbers. Of course, there’s a limit to how many articles one person can write. So when the readership began to exponentially increase, I started to hire other writers to help me out with the site’s content.

From my initial goal of just over 100 articles per year, I’ve used goal setting to help Lifehack publish more than 35,000 articles to date. This is now the largest collection of original self-development articles in the world.

And in terms of readership—this has skyrocketed from a few dozen in 2005 to several million in 2020.

And of course, I have many new goals for Lifehack, including expanding our range of online courses.

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My original goal has always remained the same though: To change people’s lives for the better.

Goal Setting Can Transform Your Life

If you haven’t yet experienced the incredible power of goal setting, then now’s the time to get started.

Build a definite picture of what you want to accomplish, break it down into small, achievable steps, and then start taking action!

You’ll be able to change all areas of your life using this method, including boosting your health, improving your relationships, and transforming your career. You may also want to use goal setting to start a new hobby or plot a path to a prosperous and peaceful retirement.

So please don’t wait for success to drop in your lap (which it is highly unlikely to do). Instead, decide on exactly what you want, then make a plan to get it. This is the secret to lifelong success.

Legendary motivational speaker and author Paul J. Meyer said it well:

“Goal setting is the most important aspect of all improvement and personal development plans. It is the key to all fulfillment and achievement.”

Final Thoughts

Now, let me leave you with five questions that will help you think about your future:

  1. What would you like to be doing in 3, 5, and 7 years?
  2. What things make you happiest?
  3. How can you share your knowledge and experience?
  4. Who can help you achieve your goals?
  5. What would you like to be your legacy?

Take plenty of time to think about these questions. When the answers come, you’ll be able to start building a picture of how you’d like your life to be—and what goals you need to set to make this picture a reality.

More Tips on Setting Goals

Featured photo credit: Jealous Weekends via unsplash.com

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