When it comes to earning money, billionaires have a different mindset. I'm going to list attributes that you can apply to your life to change your own perspective and gain a billionaire mindset. Follow these steps to first become a millionaire. Shoot for the stars so you can land on the moon.
Top 3 Billionaire Mindsets
- Invest in assets that passively earn you money.
- Give back to your community.
- Grow your own brand.
If you want a detailed advice on how to achieve the billionaire mindset, learn it directly from an actual billionaire in this book. This is the co founder of Nike teaching about his experience when growing a billion dollar business.
Assets vs. Liabilities
- Real Estate
- Dividend Stocks
- Owner Managed Companies ( Not owner operated )
One huge problem most people have is that they work for their money. Learn to make your money work for you is the best billionaire mindset you will ever be able to have. Use your 9-5 to buy investments that pay you back for owning them. Use this ratio to track your progress.
PI / L = FF
PI = passive income
L = liabilities ( Expenses )
FF = financial freedom
Goal here is to make FF equal 1 and up. So if my liabilities or monthly expenses are $3000 per month. I need to aim first to generate enough passive income to pay for ALL my monthly expenses. That would make my passive income be $3000 a month to match my $3000 in expenses.
Focus all your efforts first to make this a reality. If you believe this isn't possible then you need to change your reality to make it happen. Break it down to smaller goals. This goal will likely take years. More can be learned about this mindset from these two books Rich Dad Poor Dad and Retire Young Retire Rich.
When you give back to the community you gain so much more. Giving back can be the form of owning Real Estate that is a safe place for a family to live. It can be training someone new skills to run your business.
It can be donating your time to others to improve their lives. By doing this you will inevitably network with people that will open doors of opportunity that will allow you to earn more money so that you can serve more people.
Take 5 minutes to google how service to others improves your own happiness in life. You'll see research after research showing that service others will only improve your own life 10 fold. This billionaire mindset will forever alter relationships you'll have for the rest of your life.
Grow Your Brand
Be active and meaningful about the content you create. I'm not necessarily talking about social media, although that is a part of the picture. Present yourself in a respectable way, stand firm to your beliefs. Emulate successful people in your field until it becomes your reality.
Billionaires are driven and willing to make sacrifices. A sacrifice likely will be in the form of working late hours on your craft until you finally make it. Others will see your diligence and see value in what you can bring to the table. Master your craft and share it with others and grow your own personal brand to develop your billionaire mindset.