January 31, 2010
I’m fortunate in having a self-made millionaire as a mentor and one of the first lessons he taught me was the difference between millionaires and everyone else.
He started off by telling me he had every faith in my ability to earn a million.
At this point I have to say it felt good to have someone like my personal mentor telling me that I had this amazing ability. Of course I always knew that I could make a million if I had the right breaks … but then he added a proviso that really took the wind out of my sails.
He told me that all I had to do was earn get a job, earn 20,000 a year and work for 50 years and I would have my million.
Of course that means that virtually everyone in the western world can, and will, earn a million in their lifetime (it doesn’t really matter if it is £, $, euros – a million is a million).
So what he was really saying was that I was pretty ordinary and getting a million is within the scope of most employed people.
He then put me out of my misery and said that he would let me know the secret of becoming a millionaire ….. which of course is an entirely different thing to earning a million.
He told me that he, and all the other millionaires he knew, weren’t necessarily any brighter or more astute than the rest of us, and they often did exactly the same things as we do in running a business.
So you might ask what is the difference. Well it appears that although the millionaires often go through the same process as the rest they do it faster.
This is how my mentor explained it.
Say to make a million you have to perform 100 major actions. Well the average person might achieve one every 6 months and 50 years later have made their million.
The millionaire does exactly the same thing. They achieve 100 major actions ……. but there is a difference.
The millionaire sets out to achieve the same actions in substantially less time. They achieve 100 major actions in one or two years and build an empire, make the million and often go on to make even more.
Like most things in business this is not a difficult concept to grasp. It is of course much more difficult to achieve and requires a particular mindset.
All the really successful people I know, and that includes several millionaires, all have a particular mindset … it is a combination of critical thinking and creative thinking that is essential to both marketing and business success …. and I’ll write more about that another day.