money

10 Traits New Millionaires Have In Common.

10 Traits Millionaires have in common

 

Recently I read an article on Lifehack that I found really inspiring, detailing the 10 traits new millionaires have in common.

The world’s idea of who and what a millionaire is has changed. When we conjure up an image of a very wealthy person, we are imagining less and less a stodgy old man sipping branding in a wing back armchair, and instead, more and more what we envision is a young, energetic entrepreneur. The internet has paved the way for anyone with a good idea and the ambition to see it through to become rich and it is increasingly common for the successful people among us to be young and driven.

I also read another article last week (I wish I could remember exactly where) that reflected what I teach in my UPSwing Mastermind too. That is, that the new understanding of wealth is more about freedom and values of health and personal truth - LIVING and BEING the woman you are meant to be -  than the old stereotypes we may have been bought up with.

So what do these millionaires we are getting so used to seeing have in common? They all share the following 10 traits.

 

 

1. They Act Fast

A sense of urgency lies at the heart of any millionaire. It isn’t enough to have a great idea, you need to have the will to act on it before anyone else has a chance. If Mark Zuckerberg had decided to sit on Facebook and develop it slowly over a few years instead of a few months, he would have been left in the dust. Instead he put his idea into action almost as soon as he formed it and the result has been massive success.

 

2. They Build Strong Teams

Even the people who seem to have built their empires on their own have had the help of a good team. It is usually the case that they built that team themselves. When Steve Jobs founded Apple he wasn’t alone, his partners gave him insight into the things he didn’t understand and allowed him to grow the business in all directions at once.

 

3. They Leverage Their Success

Success breeds success and young millionaires aren’t afraid to keep the ball rolling. When they see a good idea, they jump on it. It is no coincidence that Google now owns Youtube and countless other web applications that we can’t imagine the world without. The leaders of forward-thinking companies aren’t afraid to go beyond their own comfort zone and use the money they have to generate more money.

 

4. They Are Independent Thinkers

Founder and CEO of Alibaba, Jack Ma, held a meeting when he decided to start his company. He invited nearly two dozen friends to his home and asked them what they thought of his idea. All but one told him not to quit his day job. He chose to ignore them and pursue it anyway. He is now a billionaire. Not being afraid to stand alone is a common trait among the young and self-made wealthy.

 

5. They Think Big

Young millionaires dare to dream big. They see the possibilities that lie behind great ideas and aren’t overwhelmed by the scale of what they are chasing. The truly successful individuals take things one step at a time and work at what they can handle, but their eye is always on the larger goal.

 

6. They Follow Their Passion

Most people who achieve success early in life do it by following a path they care about and are interested in. Just because an idea is good, doesn’t mean it is inspiring. When Steve Jobs was trying to convince John Sculley to leave his comfortable job at Pepsi to come take over the business side of Apple, his sales pitch was “Do you want to spend the rest of your life selling sugar water, or do you want to come with me to change the world?” That is passion incarnate.

 

7. They Are Focused

When asked what makes Mark Zuckerberg such a great leader, Facebook employees time and time again reference his focus. Mark Zuckerberg’s goal is to connect the world in ways no one else has ever dared to imagine, and every decision he makes is unflinchingly taking him closer to that goal. Having a clear vision is a key to success for any young leader.

 

8. They Love Learning

Just because they are rich doesn’t mean they think they have all the answers. Millionaires in every field share a lifelong love of learning. They hold open meetings where they can get advice from people at every level of the organization because they understand that you never know where the next great idea will come from.

 

9. They Love Teaching

The best way to get better at what you do is to teach the tricks of the trade to someone else. Successful young people share their vision and teach their team members what they need to do to succeed. It not only makes everyone smarter, it builds camaraderie and gets everyone on the same page.

 

10. They Aren’t Afraid to Fail

Finally, and most importantly, millionaires aren’t afraid to fail. Bill Gates once said, “It’s fine to celebrate success but it is more important to heed the lessons of failure.” Keeping an open mind and being willing to learn from your mistakes is the only way to keep moving forward.

 
 
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Are You Too Nice To Start Making Money?

Are you too nice to start making money

 


This week’s Business Bites we’re focusing on when does being too nice impact on your business? There is a big difference between being too nice and being kind - people are kind and compassionate when they're confident and comfortable with who they are. Usually possessing a level of positive self-esteem, they're not overly preoccupied with how others see them.

An overly nice person often feels more insecure, and seek the approval and validation of others. This type of person tries to please others and thus an often be seen as a great friend but not a business entrepreneur. 

 

 

Mind Body Green recently posted a great article which dives into the issue many entrepreneurs face which I wanted to share with you. Often a subtle shift in the way we present ourselves can result in increased success. http://www.mindbodygreen.com/0-12778/hey-entrepreneurs-how-to-stop-being-too-nice-start-making-money.html

 
 

3 Money Mindset Tips for Healthy Entrepreneurs

3 Money Mindset Tips for Entrepreneurs

 

As a new entrepreneur, the issue of money can come to the forefront pretty quickly when that cushy regular pay-check has all too quickly become a distant memory.

Perhaps for you the fear of financial uncertainty is the key reason you haven't yet taken the leap towards the career you day dream about each and every day...

I am a firm believer that to be healthy on all levels we need to also heal our relationship with money! And there is nothing like taking that step forward into our dream career to bring the issue of money quickly to the forefront to be healed.

In order to change your financial situation, you need to first change your thoughts about your situation. Your money mindset is your attitude and ideas with regards to your personal finances. When you know how to manage your finances, the possibilities are endless.

Here are some tips to improve your money mindset:

Tip #1: Make small changes over time

New Years Resolutions are awesome but let’s be honest, they’re usually broken by the time it’s time to clean up the champagne bottles. Making lasting changes to your money habits and financial success requires dedication and making small changes is much easier to implement than huge changes overnight.

You might begin with a goal to create a budget, pay down your credit cards or tracking your spending.

As you succeed in each of these goals, increase to more challenging ones such as adding an extra valuable service to your business, paying down your credit cards or making voluntary contributions to your super fund. As you become more comfortable with money, you will see it grow and be able to continue with your new fiscally responsible attitude.

 

 

Tip #2: Get rid of lack and hello abundance

Abolish thoughts of lack such as “I can’t afford it” or “I’m broke” and replace them with positive money thoughts including “I have enough at the moment”, “I’m lucky to earn the money I do”. A small shift in your self-talk promotes personal abundance and wealth.

Practice gratitude daily, as being healthier, happier and less stressed, can sometimes unlock your true financial potential.
 

Tip #3: Shift your attitude

Change your relationship with money. Many women fear looking at their bank statement, nervous about spending money or abuse the money they have by spending it on a whim. You need to feel positive and be at peace with the money you have, knowing you will attract more when it’s needed. Changing your attitude towards money from spender to nurturer, will also provide ideas of abundance, growth and wellbeing.

Having a positive relationship and views on money, goes a long way in feeling satisfaction and peace with your entire life. How much money you attract isn’t a reflection of who you are as a person. When you look at your numbers remind yourself it’s your personal choice on how you want to interpret them – as a negative or as an opportunity.

Let us know in the comments below your own tips for healing your relationship with money.

 
 
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