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S m art Decision Making An important part of the journey to be a Millionaire is acquiring the ability to make smart decisions. We are where we are today because of the choices we’ve made in the past. Think about your upbringing and look at how the decisions you made affected everything that was to follow. For example, the decision to enter university, the decision to drop out of school, the decision to take up a particular job in a certain company, the decision to leave home, the decision to get married and ….. All these substantially affected the person you are today.  Not only have the decision you’ve made brought you to where you are today, but your future will be comprised of the decisions you make from this point forward. Decisions are the building blocks of your past and your future. Most of us don’t know how to make decisions. If we feel good that day and the money is flowing, we tend to do it. If we don’t feel good or money is tight, we don’t do it. That’s no way to bu...

  Change The Way You Think It’s fascinating that we human beings tend to forget the difficulties of accomplishment once we’ve reached our objective. Once we’ve done something, we tend to look at others and think, “Why are you having so much trouble? It’s not that hard.” We do that regardless of the difficulty we may have had when we first tried it. Most rich people felt that way about making money. The great Andrew Carnegie felt that you have to make people work for their own success. He said, “There is no use whatever trying to help people who do not help themselves. You cannot push anyone up a ladder unless he is willing to climb himself.” In his day, Carnegie had an opportunity to rub shoulders with hundreds of self-made millionaires. As he got to know them, he realized that there was a common denominator among all of them. What they all shared was that even in the earliest days of their careers, these millionaires knew what they wanted and what it would feel like to be suc...

  The Early Years, Build Our Character… Everyone’s life is a series of experiences: some good, some bad, and some that come and go with little thought one way or another. The interesting point about these experiences is the number of them that contain important life lessons but that we let pass unnoticed. There may be a number of events from our own lives that implanted strong life lessons in our subconscious minds, even though we failed to recognize them at the time. It was not until later that we were able to look back, analyze the events, and understand the impact they had on our future. All these past events may not be positive, in fact, some of them may have produced strong negative reactions. It’s the events that left lasting impressions, both good and bad.  Developing a wealthy man's mindset is a journey, not a destination. It is a personal journey because everyone’s experiences are different. Opportunities abound, but if you weren’t ready and aren’t prepared, you will ...

  The Journey To Financial Independence As with all journeys, there has to be a starting point, and the distance between your starting point and your ultimate goal determines the amount of time and course of action needed to reach it. Where are you in relation to your financial goal? If you’re 25, college educated, have a great job, have already started accumulating some savings and investments, and your goal is to reach financial independence in 30 years at age 55, your course of action will be totally different from someone who is already 55, broke, out of work and wondering how they’re going to make it to the end of the month. But one thing you all have in common is time. Young, old, rich or poor, everyone has 24 hours a day and seven days a week. What you do with your time determines how quickly, if ever, you reach financial independence. No matter what you’ve done up until now, you have already embarked on your own personal journey through life. Everyone’s journey through life...

  Debt: Constructive or Destructive? Has debt got you down? Are you struggling to make all those payments that come due each month? Do you sometimes get the feeling that no matter what you do, you just can’t seem to get ahead? Do you hope for a raise so you can use the extra money to work your way out of debt? Or do you feel that the only way to improve your life is to change jobs, move, inherit money, hit the lottery, or find a get-rich scheme that really works? If you responded positively to any of these questions, then you are experiencing the effects of destructive debt. For many people, the mounting pressure of debt creates problems with spouses, friends, and coworkers, or simply drives them crazy. Destructive debt is a terrible thing. It is debt to acquire items that are consumed prior to being paid for or that go down in value after their acquisition, without generating income to service the debt. Examples are debts to pay for food, fuel, clothes, entertainment, gifts, recre...

  Evaluate Yourself On Output, Not On Activity I have a colleague who would become very excited when starting a project., his enthusiasm was understandable. In the beginning, he would gather his materials, make lists, reach out to patrons make phone calls, a flurry of activities that made the Road Runner look slow. Inevitably, as time went on, my friend’s enthusiasm for the project would begin to wane. Tasks would remain unfinished, phone calls would go unreturned for days and sometimes weeks. The project would sometimes be passed off to an underline to finish and some projects would just remain undone in favor of the excitement of something new. There was no interest in completion —  in the process that takes a brilliant idea to final product. My friend remained consistently busy, but his productivity was dismal. He would be the first to tell you how hard working he was, but he had very little to show for it. He measured himself on activity, not on output. Baseball players ge...

  Mandatory Requirement For Success — Learn Human Relations A common misconception that traps a lot of people, particularly those just out of universities, is that they believe they will rise to the top by mastering the technical aspects of the job. So they concentrate on mastering every little detail of the job. While that is good and commendable, it is not enough. What is even more critical is your ability to get along with other people. Why? Because as long as we are living here on this planet, learning to get along is a mandatory requirement for success. For starters, who are you working with? People. Who is buying your products? People. Who is going to promote you? People. The answer is always people. So if you want to get anywhere, it is obviously to your advantage to know how to get along with other people. Some of you may still believe otherwise. So let’s look at more questions. Does the most knowledgeable doctor in the hospital get to be the boss? Does the most knowledgeab...

  False Sense Of Not Having Enough Time I don’t have enough time. I am being pulled in many directions. Someone or something is stealing my time. Whether you complain that you are overworked and overextended or you believe that other people, and obligations, are forcing you to postpone or cancel your own aspirations or dreams, you’re basically saying one thing: you are inefficient. Yes, it’s your fault. it’s bullshit and you can change that. When we talk about equality in life, the one thing that we all have in common and in the same quantity is time. I’ll go as far as to say that how we use our time defines our lives. Each day when we awaken, we all have twenty-four hours. We can use those hours wisely or we can make up excuses and use them poorly. Time used well bestows incredible benefits. It helps us make more money, forge important relationships and break down adversarial ones. It creates camaraderie and allows us to bond with those whom we love and respect. It brings us ...

  Be More Open To Learning Some owners do not know how to use their POS (point of sale) system, the basics of inventory management, or other simple tasks. To them, this knowledge is beneath them, or for their management to learn. These are the owners who are unaware that employees are stealing cash and products from them, or who have employees who do not give a care for their products and don’t know about it. These are the owners who are held hostage by their managers but never learn more in order to make changes. Then, when they fail and close, they blame it on “management.” The belief that there’s nothing new to learn, that certain knowledge is beneath your pay grade, and that you are not capable of learning new things (for whatever reason) are complete bullshit. This is really about you not taking full responsibility for your job or business. This isn’t about being smart enough or having a high IQ, it’s a belief that information is either beyond your grasp or not worth gras...

  The Mother Of All Excuses — FEAR Yes, The mother of all excuses: Fear Of Failure. This can mean fear of hurting someone else’s feelings. fear of how you will feel if things don’t work out exactly as you planned, fear of ridicule and criticism, fear of what could happen when you screw up, and yes, even fear of how your life will change if you succeed. Fear provides a convenient comfort zone for many people. If you are afraid to do something, it’s safer to avoid it right? But, in this changing world, you have to think the other way. It’s time to change your perspective and confront that fear head-on.  I know fear. I can relate to it. I’ve made stupid investments. I’ve made stupid decisions as an employee and as a manager. I have been reprimanded and given warnings. I’ve lost money. But I also know fear can be the most powerful tool to make me take action. Fear can be a great motivating factor, and I try to use it to help other people overcome their fears. When one of my co-wor...

  Devote The Right Resources To Learning So many resources exist, from online courses to old-fashioned night school, mentoring opportunities, and training programs. There is no reason you can’t learn new things anytime and at any age. Learning can be as simple as finding someone whom you admire and studying how they do things. The motivational speaker Tony Robbins says that the greatest way to find success is to learn and mimic a successful person. If you want to be a great financier, study Warren Buffett. If you want to be an amazing tennis player, practice and analyze Serena Williams or Pete Sampras‘s techniques. The person who teaches you doesn’t even have to be alive. Billionaire aviator, film producer, and business tycoon Howard Hughes had the ability to provide a vision, then delegate it and execute it through a team. We can learn from that.  Massive open online courses have made all sorts of information easily accessible. From YouTube videos that tell you how to do...

  Don’t Wait Until You Know Everything To Start… Too often we let uncertainties about whether we have what it takes to successfully run our lives. As a result, we tend to avoid new challenges or decline to pursue exciting opportunities that could take us to new levels of personal or professional success and happiness. All because we don’t trust our own ability to rise to the challenges that are involved. Remember: effort leads to mastery! You have definitely been smart enough to accomplish something that was initially scary to you — whether that was starting a new job, writing a business plan, taking a risk by asking for a raise, learning a new skill, or doing anything you have not done before. Don’t think for a second that you’re not smart enough to make a needed change again. Figure out what it is you need to know to move forward and then find a way to acquire the knowledge and do it.  Don’t underestimate your abilities and buy into self-doubt. When you see a gap in you...

  How To Stay Rich! If you want to stay rich, you need to do things differently. Wow! “are you saying that I have to do things one way to get rich and then do different things to stay rich?” you may ask. The answer is Yes, to get rich you basically must focus. But to stay rich, you have to diversify. It’s well-known fact that the strategies that brought you the initial wealth will not keep you there. To illustrate this point, let’s track the normal steps of an average millionaire. He started a business, failed miserably, and then, later on, decided to try again. He failed yet again. Three years later, he made another attempt. This time, he was a lot wiser after the two failed attempts. And to all you know, the money started to roll in. He hit the big time and is now a bona fide, true blue, real-deal millionaire. In fact, he’s so big that he even made the cover of a business magazine. A whiz kid in business - the headline screams. All that initial failures made the success all ...

  To Be Wealthy…. Opt For Control Friends, you have to let go of individual glory. Individual effort can only take you up to a certain height. If you want to go far and beyond, it takes more than one man, it takes a team. If you are clearing five feet, all it takes to jump six feet is some extra training. But if you want to jump ten feet, then more training is not going to help you. You can train all day and all night but you are not going to clear ten feet. What you need is a whole new way of doing things. Perhaps even opposite to what you are currently doing. This whole new way involves a few things that in all likelihood be opposite to conventional wisdom and what you are most likely doing right now.  If you are really serious about building wealth, you must first give up trying to do everything on your own, which means you must have a team. Which also means that you must be willing to pay money for their expertise. The third step is to give up ownership. if you want t...

  Becoming Wealthy Is A Team Sport We all have seen how individualism is of prime importance in school. Firstly, we are graded based on individual effort. And although there are areas where teamwork is important — in sports like football and hockey, it is still the individual effort that counts. The smartest student rule. He is the man on the campus, loved by teachers and students alike. Which is tragic because it teaches us that life works the same way. That individualism is all that matters. Nothing could be further than the truth. In real life, no one gets to do anything great or achieve anything worthwhile alone. No one get to make it big by doing it all on his own. Archimedes was wrong — it takes more than one man and a lever to move the world. And even in individual sports like tennis and golf, there is a team involved. Sure it is players like Tiger Wood or Roger Federer who are the front man. But even these talented players have trainers and coaches guiding them behind ...

  The End Of The Innocence In an ideal world, we would all live happily and peacefully. There would be no need for legal agreements, lawyers, courts, the police, and jail. And who among us does not long for the good ol’ days when life was much simpler when trust was but a given when man’s words is as good as money in the bank and the sky was still blue. Where I grew up, we only lock our doors at night. And the only reason we did that was to keep creatures such as snakes, frogs, and mosquitoes out! But to believe that life is still like that would be living in a dreamland. Those days are gone for good. Anyone who insists otherwise is welcome to try it. Try not locking your doors, try doing business without legal agreements, or try concluding deals by just shaking hands. My guess is that it will be a matter of time before the rattlesnakes get to them, that is if the rats don’t kill them first. While there are certainly millions of decent, honest, and hard-working people in the world,...