Updated: April 12, 2021
The Billionaire Mindset that you must Have
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The Billionaire Mindset that you must Have
According to Forbes there are 2,153 billionaires in the world out of the 7.8 billion people on this planet earth. It is a tiny tiny percentage of the population. There are a lot of people, they have a lot of jealousy and resentment towards billionaires.
Some have admiration’s towards billionaires. When I hear people they say “I want to be a billionaire” or I see it on social media “Oh I’m going to be a billionaire.” I don’t think most people have the slightest clue of what it takes to be a billionaire.
You got to understand we are not talking about being the one out of one hundred or one in one thousand not even one in ten thousand, not even one in one hundred thousand. You’ve heard of the saying one in a million.
Well being a billionaire is not even one in a million. It’s one in a few million. You have to be that good and that exceptional. Now here’s a visual representation. Here’s what $ 10,000 looks like.
A small in a pile, and here’s what $100,000 looks like. Not even that big of a pile. Here’s what $1000,000 in cash looks like. Now you might think $1000,000 such a big number that it will fill this entire room with cash.
That’s not true actually $1000,000 you could fit in a large bag pack. And here’s $100,000,000 what it looks like. And here is what $1000,000,000 looks like. Now as you can see it is a huge amount of money.
More money than most people could imagine. Disclaimer I’m not a billionaire but I’ve had the privilege of interviewing quite a few billionaires on my podcast the Dan Lok show and I’ve had the fortune of being mentored by some of them and what I’m about to share with you today.
These are simply my observations. Notes that I have jot down in my little notebook. I’ve got a whole notebook of them especially the way that they think and their billionaire mindset and today I’m going to share three findings with you from my little notebook.
And you don’t have to buy any of these ideas. It’s okay to disagree I’m simply sharing with you what has worked for me and in my own business and in my own career. Everyone has an opinion of billionaires but most of those people have never made more than 40k a year in their life and chances are they will never even talk to a billionaire.
Billionaire mindset number one. Money is not their biggest motivator. They don’t do it for the money, maybe in the beginning they did but later on think about it if your goal simply is to live a comfortable life, a luxurious life.
After a while its very easy to lose motivation. They don’t do it for the money after a while they do it for something else. They do it to win. They do it to make a difference or they do it to disrupt an industry or they do it simply because they could.
In fact I would say that is the key difference between a millionaire versus a billionaire. A millionaire once you reach a certain stage of success once you are comfortable it’s easy to get complacent, right? Just like my mentor says default is a bitch.
When you are more successful than the people around you like you know what I don’t want to work so hard anymore, right? Think about it if you are already living in a house that you want, you are already driving the car that you want, you are already taking a vacation that you want, you are staying in the best hotels, you’ve got a comfortable life.
If all your motivation is based on just things, well you’ll lose motivation real quick. From my observation to billionaires, money is simply a way for them to keep score. Not because they are greedy because they enjoy what they are doing and they are good at it and that’s why they get paid a lot of money doing what they do.
You see poor people say, well you know what if I have that kind of money I would never work another day in my life. Well with that kind of mentality chances are that’s why you will never have that kind of money.
Because you are motivated just by money itself. Steve Jobs said it best I was worth $1000,000 when I was 23. I was worth $10,000,000 whem I was 24 and I was worth $100,000,000 when I was 25 but they are not that important anyway I never did it for the money.
Billionaire mindset number two. Billionaires understand people. From my observation billionaires they have exceptional people skills. Now some of them are great communicators. They are great public speakers.
Some of them are world class negotiators or closers. They could get deal done. They could close deals. They know how to negotiate with the banks. Now having good people skills doesn’t mean that they won’t be liked all the time.
In fact most of them they are not that nice. They are tough. They are tough because they have been screwed over. They have been taken advantage of. They have been sued, right? They have been back stabbed.
They have a lot of scarred tissues, right. They have a lot of heat, right. There a lot of people wanting something from them. So they have thick skin and almost without exception they all have world class leadership skills.
They know how to lead people. They understand people. They know how to motivate people. They know how to put a team together. They understand that it takes people to get stuff done. You need to know how to get people together.
Work together as a team and not working against each other and that is tough. I also noticed they are willing to invest time in developing key relationships. And most of them are very generous and they are willing to help people.
As long as you are sincere, that you don’t have a victim, loser entitlement mentality that you are like a blood sucking leech that you want something from them. As long as you are sincere, they are willing to help.
I’ll tell you a quick story through a mutual friend in introduction. He introduced me to one of their most successful, one of the wealthiest men in my city in Vancouver and I got his phone number.
Why don’t you come to my hotel” Cause he owns one of those hotels in Vancouver. He said come to my hotel and I will see you in my lobby just at lunch time. I said great. So I dressed up, I drove there and I saw him in the lobby.
And he greeted me and he was very very nice and then he said why don’t we just eat at my restaurant and cause he owns that restaurant as well at the bottom floor of the hotel. So we went in and he was greeted by everyone.
You could see the people, the guests a lot of people know him. They are saying “Hi, how is it going?” He’s shaking hands with everybody, right. Very welcoming and we sat down and we had lunch and I was asking him, I was taking notes of what advice he would give me and by the end of the lunch I said okay great.
I pulled out my credit card cause I wanted to treat him. He said “No don’t worry about it, you are eating in my restaurant. I’m not going to let you pay in my restaurant.” “Maybe next time.
” As a young guy I got nothing to offer to him. There’s nothing that he needs or wants from me. Not only he gives me his precious time giving me advice but also bought me lunch. It’s incredible.
Billionaire mindset number three. Billionaire they see things that other people don’t. Here’s a piece of land. Poor people they will see just a pile of dirt, right? Some might see a garden. Middle class would see a house that they could live in.
A millionaire might see a fourplex that they could build, but a billionaire could see a skyscraper maybe with commercial real estate at the bottom part and then condos at the top. They would see they could build a train station here maybe they could also acquire that property next door.
They see things completely different. They have a mindset what I call resourceful without resources. They are very very creative when they cannot do something or someone tells that they cannot accomplish that, they will always find a way.
They have a very compelling vision, have a lot of clarity of what they want to accomplish and because they have that compelling vision its very easy for them to attract the right people and say hey I want to help you to accomplish that vision because billionaires they know how to paint that picture and they know how to craft that vivid vision that if you could help him to get what he wants then you will get what you want as well.
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