Congratulations, You Are Now A Millionaire
By Christine OKelly | October 27, 2007
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I want to share a mind “trick” that has is working for me and that I am now leveraging to create a million-dollar business. It’s a very simple concept and one that has helped me change the thoughts I have, the decisions I make, and to help me develop a mindset of wealth, even though I was not raised with one.
I’ve always been amazed that people tend to achieve about the same level of societal comfort as their parents. Most people tend to raise their income level a bit higher than their parents do, but not by leaps and bounds. This told me that wealth had less to do with luck or talent, and everything to do with what we deeply believe we deserve and are capable of.
So here’s the deal….
Starting right now, you are a millionaire. All you have to do now is keep it.
I’ve come to understand that being a millionaire or a multimillionaire is a mindset first and foremost. If you are a millionaire, you are going to think differently and make different choices than if you were a hundred-thousand-aire.
Being a Millionaire Has Little to Do with the Resources You have Now
The last company that I worked for was a start-up internet company of about 80 people. The CEO had been a millionaire 2 times over – building up his first million, losing it all, and then starting over. He used to say that you could drop a millionaire off somewhere where they had no money and knew no one and they could be a millionaire again with a year or so.
I asked him about the early days of the company after he lost his first million. He said that in the beginning, he and his business partner were literally digging coins out of the couch to buy a burrito for lunch.
I knew the 3 year old company was making a lot of money, but it wasn’t until I moved into management and had access to the numbers that I realized the company was making upward of $50,000 PER DAY. It was unbelievable.
Yet they still remained hungry. Their biggest concern even at that point was that someone working passionately in their garage with no capital (perhaps someone like you) would create a better product and take their place in the market.
This company absolutely refused to take any funding from investors, even though at that point, they were being approached consistently. The reason was because bringing in an investor is what caused him to lose control of his first business along with his millions. There are ways to bootstrap your way to a million dollar business.
It’s Easier to Keep What You’ve Got Than To Overcome the Challenges of Getting There
There area few lines in the movie Dangerous Minds that have stuck with me over the years and inspired this way of thinking. If you’re not familiar with the movie, it’s about a new teacher that comes in to teach a class of students that most of the school staff thought of as hopeless losers. She tries a lot of things to get them to care about school, but when she said this one thing that changed their mindset – everything turned around.
Teacher: At this point, everyone has an “A.” But it’s up to you to keep it.
Student 1: Bullshit.
Student 2: What if it ain’t bullshit? Ain’t never had no &%*# “A” before.
Once they had the belief that they were “A” students, they started doing what it took to keep it. Once you have the deep believe that you are a millionaire, you will start doing the things it takes to keep it.
Quantifying the Goal
When I was 19 and a poor college student, I told my boyfriend at the time – “let’s start thinking that we’re rich, and maybe it will just happen!” This really did work to help us achieve our “perception” of rich at the time, but we were far from rich. The problem with the self talk we gave ourselves, is that we didn’t quantify what we wanted. “Rich” isn’t specific enough. Millionaire, however, gives us something to work with.
What is a million dollars?
There is more than one way to look at a million dollars. And you don’t need to make a million dollars per year to be a millionaire. But if the sky’s the limit, why shouldn’t we? Let’s break a million dollars down per year down to the way that most of us are accustomed to thinking about money:
A million dollars is $83,333 per month.
Or - $250,000 per quarter
How to Abuse This Way of Thinking
Thinking that you are already a millionaire does not mean that you should go out today and buy a new BMW with $900 per month payments. That’s more of a middle class mindset. Instead, think of yourself like my old boss – as a millionaire that happens to have few resources at the moment, but can rebuild. Then buy the BMW in cash.
How Using this Way of Thinking Might Manifest In Your Daily Life
- You’ll change your perception of what is “a lot.” Suddenly, making $5000 per month seems just as absurd as earning $7 per hour at a fast food place does to you now.
- You’ll start thinking bigger. You’ll begin ruling out business ideas that used to seem profitable, but now seem like more work than they’re worth.
- You’ll instantly start seeing more opportunities: Once you bump your perception of what is possible up a notch, an entirely new range of opportunities becomes available that were “invisible” to you before.
- You’ll rearrange your life to start working toward this goal. If you are serious about what you want, you may need to make some sacrifices. Naomi at IttyBiz talks about how she and her husband accomplished what they set out to do by rearranging their life, even though everyone else said that it was impossible.
- You won’t be afraid to talk to rich and successful people. Why should you be? You’re one of them.
- You’ll begin seeking out people who have achieved your goals already and learn from them. Maki of the top ranked money making blog Dosh Dosh asked readers to share exactly what they were doing to make money online and published 63 unique results for his readers. Though Maki is already successful at making money online, the successful person never stops seeking out ideas, tips, and advice from others who have also achieved success.
- You’ll start reinvesting more money into your business ideas rather than buying inconsequential things that won’t get you where you’re going.
- You will begin creating wealth for others rather than counting on it from others. Good business models create opportunities for others, the rest take those opportunities. When we create more value for more people, we naturally create more wealth in our own lives.
I’ve always passively “wanted” to be a “millionaire” but I didn’t really know what that meant and I had no idea how to get there. Deep down I did feel that it wasn’t really possible for me.
Once I decided that I was a millionaire and that I wanted to keep it, things really did begin to change. Within a week I had an ah-ha moment about a business model that will not only help me to achieve this goal, but that will also help hundreds or thousands of other entrepreneurs bring more income into their lives. You won’t see this business on my “my businesses” page. This is something that is in the works that I am currently putting together.
What We Believe is Possible Imprisons Us and Empowers Us
When my then husband and I were flat broke, living as roommates in someone else’s house, without a car, and pregnant with our first child, I had a business idea that I knew could make a $10,000 chunk of money twice per year.
At the time, we thought this was a TON of money. But because I thought that was so much money and unobtainable, I spent a lot of time dreaming about it and made no real progress on getting it launched. Somewhere in my mind, I didn’t think I was worthy of this.
Are you doing the same thing with one of your great ideas? Now that you are a millionaire, does your big idea seem small? Does it seem more obtainable? Have you tried a similar way of thinking? How has it worked for you?
Topics: Business Opportunities |
43 Comments »
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Great post, Christine! I truly believe that your mindset has a lot to do with how much money you have. It is all in your expectations. I have seen people who came from poor backgrounds who just can’t seem to hang on to money, even if they are earning a good income.
I remember how afraid I was to cross the $50,000 per year barrier many years ago. I finally made the leap and asked for $54,000 in the interview, and ended up with $52,000. It was a lot more than I was making at the time. I would not have gotten it if I had not asked for it.
Now I am struggling with this issue again. I come from a middle-class family, so I am having to convince myself that it is ok to earn more.
Thanks for the thought-provoking post.
Thanks Pat! It is ok to earn more - because if you’re earning more, you are probably providing a lot of value to others.
I’ve been asking myself a question I read in the book ‘Secrets of the Millionaire Mind’ by T. Harv Eker. The question is something like, “How can I provide more value to more people?” It’s a different mindset then when you work for someone else for sure!
Whenever I create a business model, I try to organize things so that the person paying stands to gain much more than the amount they paid out for the product or service.
I can do nothing but cry at this moment because this blog has directly spoken to my need right now, and I know that it is an act of God! I have been really getting closer to God and have asked Him to direct my path. I know that I have a HUGE calling on my life (as everyone does)which is very scary right now. After reading this blog, I feel that a tremendous weight has been lifted off of my (creative thinking) shoulders. Some people feel that a walk with God is a waste of time or boring, but I can say that in my 29 years on this earth, this has been the most exciting and mind blowing time I have ever experienced. Ask according to His will and you shall receive! Thank you for allowing God to use you to minister to me!
Wow Amanda… thank you
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Great advice Christine. It’s funny (but true) how much we hold ourselves back sometimes.
Congrats on breaking free of that and realizing your full potential.
I’m curious about the new idea that you’re working on… I’d love to hear from you if you don’t mind talking about it.
Thanks Travis! It is crazy how much we hold ourselves back. But it’s not easy to break out of it either! We become so conditioned with our thinking that we don’t see other options.
I promise I will tell you more about this new idea very soon.
Hey pretty lady…
Awesome post, as usual. Thanks for the link! For me, the big number was (the very strange) $96,000/year. That was $8K a month, and I figured that when I got there, I’d consider it a success.
About parents and money: When my husband was in university, he was taking a sociology class. (Sociology majors tend to do that.) At one point the professor, in one of those doomed-to-fail attempts at rhetoric, asked how many people thought they’d do better financially then their parents. My husband was the only one who did not raise his hand.
She freaked out in true FemiNazi fashion, saying he had no vision, no goals, no motivation. Jamie’s like, “My Dad is the executive vice president of the largest bank in the country. I don’t even WANT to do better than that.”
His goals were different. He wanted to be home more, to spend time with his kids more, to spend money on what he wanted instead of constantly being worried about retirement. He wanted to be happy, but he was raised with the belief that happiness was not important - money was. I think we’re a lot happier than my in-laws are, but we had to be really conscious about it. He was raised with the belief that you could not be a success if you are not in a white-collar job in an established and conservative company. It took a lot for him to get over that.
Thank you very much for this post. People, it’s crucial that you get out of the poverty mindset. You’re worth so much more than that.
That is an EXCELLENT point Naomi. Money doesn’t necessarily buy happiness. The goal is to be happy. I strongly suggest never chasing money - its more important to chase your passions and if there is a way to become financially free doing so, that is great. I love freedom.
I strongly believe that in order to become wealthy you need to be providing more benefit to more people and that is at the root of my goals.
I agree totally with the part about turning down business oportunites that, althought seem promising, can turn out to be too much work than what they are worth. I have done that twice this year myself, and both accounts involved investors….just as your old boss related to.
And yes, a company that can provide wealth to others is the sign of a good and strong one.
Very tremendous article Christine! You , as always, speak in mass volumes.
GOod stuff! Self actualization and the power of positive thinking. I think I might have to post something about this and being a writer. Nice blog!
I would love to read a post about this - let us know when you do and stick a link in here to it!
Whew! Where to start? I knew I had “thought small” in the past, but each time I try to think of big numbers, it wasn’t long before I realized they’re not nearly big enough!
I used to believe making money was hard, but now I know it’s easy. Like, ridiculously easy. I love that idea that everyone starts with an “A”, but it’s up to us to keep it.
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Christine,
Great post — as usual! It has really gotten me thinking about changes that I need to make in order to be successful. I really enjoy reading your blog because it always helps me think of things from a different view. As you know, I am also a stay-at-home mom of three and I am ready to get back into the swing of things. Now I just have to map out where is the best place for someone with my skills to begin!
Tara
Thanks Tara! And I’m so glad you contacted me offline - I think that really going to do some big things!
Hi Christine,
I love the “Dangerous Minds” reference…it was the perfect analogy for the millionaire mindset.
People have limiting beliefs that keep them from doing what really anyone can do.
Your blog is REALLY GOOD!
John
I hear ya - I love that movie - and particularly that quote! That movie came out in 1995 (12 years ago - geez) and I have never forgotten that quote… I can be difficult to find your own limiting beliefs because, well, you don’t always know that they exist!
I have to comment, this post was amazing. Your blog puts things into perspective for me. I run a small copywriting business myself and you help me realize there is so much more I could do it with.
*do with it
It would help if I didn’t have dyslexia in the morning!
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This is one of the best posts I’ve read in a while. I also believe in the power of positive thinking. This is one to print out and post in my office at 611rent.com Thanks again for the inspiration.
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Excellent post, and I will go ahead and lump myself into the category of folks who have a lot to think about after reading it.
It is quite painful, breaking out of these prisons we build for ourselves, and it can often lead to bruising and perhaps even permanent loss. But often the things that are lost are things we should not have been holding on to in the first place, and once we let go … we have our hands free to reach for something better.
Wow Margie - you say this with such eloquence… thank you so much for your comment ~
She’s smart, isn’t she? At least she says nice things on your blog. On my blog she tells me I shouldn’t have got my hand stuck in a box of wine.
Aw, sorry Naomi, I was just giving you a hard time. You always hurt the ones you love!
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Your mindset does have an enormous impact on your ability to make money. There is a web site called the Million Dollar Experiment (I think that is the name). The objective is to set an intention to attract a million dollars. The affirmation is beautiful:
“In an easy and relax manner, in a healthy and positive way, in its own perfect time, for the highest good of all, I intend to attract a $1,000,000 into my life and into the lives of everyone else who holds this intention.”
A circle of people joining in the same mindset/intention is very powerful.
Yes T! I know about the million dollar experiment. I think that’s a wonderful idea and actually have that affirmation on my desktop!
Hey Christine, thanks for the inspiration. This is a great post, it’s getting printed and going into my Tickler for review every week.
Thanks! This was exactly what I needed to read right now. I periodically let my mindset start slipping and my ambitions sink, and I needed some inspiration to boost it back up where it should be. It can be hard when other people are always projecting their fears onto you. Thanks again!
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Fantastic post -
I have always had this thought process but never actually thought anyone else had it.
It’s true that people love reading a story within an Article with a powerful message.
Thanks for this.
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Thanks Chick,
Wizzer sent me and I am glad he did. It is very true as I have been in the process of changing many old voices in my head, ironically they are not my own, now that I hear myself clearly again, I am walking in life and doing things differently as you have described above. That’s great confirmation for me!
Stugotz
Stu, Wizzer is a cool guy - I’m glad he sent ya! It’s amazing how much negative “talk” we can have in our own heads isn’t it? I’m glad to hear that you’ve found your OWN voice again.
I totally agree with you.
I felt that having a job kept me from making real money. So quit to try out several of my own ideas.
Great post, but I have to admit that after reading your headline all I could think about was the gag in the movie Office Space.
I agree with you but I find that mostly we need to stop focusing on “making money” and start focusing on properly handling the money we have (or earn).
Just my two cents,
Jon Marks
@NYC Criminal Lawyer - “Nothing? Hell, you don’t need a million dollars to do nothing. Look at my cousin, he’s broke, don’t do sh!t.”
I agree with you though, just learn how to use the money you already have. I suggest everyone check out a guy name Dave Ramsey. No link here, serious searches will find him
Greg
wow what a great post. You made me realize I need to change my mindset. Very practical information, thanks.
Sounds like Anthony Robins has got to you. Be carefulof believing everything is possible because it isnt! There are many who wil not experience the challenges! If you are just chasing money you are doomed already! Pursue art creating, something that contributes to the way we live and you will find that everyone wants to be a part of you. Get known as a money chaser and you will end up miserable hopelessly without true friends and loves.
Believe in yourself by all means but millions doesnt bring the joy you need to survive.
Take good care and get as much joy everyday from what you do. The Baldchemist