Millionaire Myths

Here are a few myths that frequently pop up whenever I’m reading about or talking to millionaires. Although I’ve had to struggle to overcome my limited mindset on some of these myths, the true success is realizing that at any time, one can fulfill her or his dream. It is my sincere hope that if you find yourself trapped by one of these myths that you will either lift yourself out or at least consider the possibility that belief in the myths could truly hinder you from all the magnificent opportunities you could experience.

I’m not smart enough – The Millionaire Mind states that ...the millionaire is that he is not the brightest of the bright in his class. With the exception of the physicians and lawyers, the average millionaire may have SAT scores that border on 1100 and a GPA of less than 3.0. Many millionaires have been told early in their lives that they were not smart enough to succeed. They have suffered the pang of rejection and they have overcome those rejections to succeed. IQ is not the key factor in their wealth creation but other qualities are.

By starting from where you are now, there are many possibilities and opportunities available on any topic of interest. If you have a hobby or an area of your life you enjoy, chances are others may also share your passion. Or perhaps people keep asking you how you do something that seems easy for you, but makes people's eyes cross! You could quite easily be an expert that people are seeking. Keep your options and your mind open. Believe you have the capability to be successful and hold that attitude that what matters most is what you feel and do now.

I don’t have enough money – We’ve all heard the expression “It takes money to make money.” And sometimes that’s true, depending on the type of business you’re seeking. But it doesn’t have to be your money AND thanks to the internet – it doesn’t even need to be over $100! Find a few things in your attic, take a picture of it and pop it on eBay. Your initial capital could easily come from selling those old YuGiOh or Pokemon cards! Later, we will cover some resources to possible businesses you can start easily and without much money. Stay tuned. :)

I’m too young, too old – This is my soft spot. When I was in my teens, I believed I was too young. None of my friends were doing it. I’ve never heard of a rich kid unless he or she was born into it. But a kid entrepreneur? Impossible. Boy, was I wrong, especially now! Yep, now we even have kid billionaires. I bet the parents are glowing!

Now I’m comfortably (sometimes) in my forties and I’m approaching a different type of myth. How much time did I lose? Why didn’t I…? I should have… Why didn’t I listen to…? Why did I listen to…? These questions can go on forever, but are essentially pointless. The best time to become a millionaire is right now from wherever you are NOW. The strange thing I realized is that there is only NOW. The past is our teacher to bring us to this point and the future is our canvas of any picture we wish to create. But everything stops and starts NOW.

I don’t have time – Many can relate to time pressure and stress. Never before have we had so many things given to us instantly, i.e. microwave, TiVo, McDonalds, but yet still lack time for the things that are most important to us. You have many responsibilities and mouths to feed. Both parents or single parent are working day and night to survive until the next paycheck arrives. So how does one create a business, let alone think about being a millionaire if there’s no time to breathe!?!

Here’s some quickie ideas to consider: find something easy to do to supplement your income; partner up with someone who has available time; create a joint venture with the kids (a great way to teach them valuable business skills!); join a business club that meets once a month (every week is good, but a lot depends on your schedule); sell a few things on eBay; watch less TV; spend a little less, if possible to give yourself some breathing room.

Start small. If you have two jobs, find a way to supplement enough income to eliminate the part-time job (this, of course, assumes you want to leave the part-time gig). The income you make from the business can greatly increase compared to the raise or bonus you may get once a year. Then allow yourself and family a little settling in time to get to know each other again. Then, if you enjoy the business more than the full-time job, set your aims at increasing the business income beyond what your job would pay. This is reality and many people have happily traded their old jobs for the wealth and freedom that their business now provides.

I hate sales - This is me again! I love helping others any way I can, if at all possible. But ask me to sell something and I become paralyzed! Fortunately, there are two ways of looking at this.

First, not every millionaire makes their money from direct sales and making cold calls. Those that have developed large companies usually hire a sales team to develop their growing business. If you have a killer idea that requires direct marketing, but hate sales, consider partnering up with someone who likes commission checks. Consider launching your product with an affiliation team of individuals who sale your product online and you pay them a percentage of each sale they make. There are so many ways around not having to call a potential customer during dinner!

A second a way of looking at this is that we all sell something. When we go on a job interview or ask for that first date, we're selling ourselves. As one gains more information and develops an idea of what he or she really wants, creates a plan around that concept and actually takes one action at a time...this process will develop the person's confidence to a point that "sales" is no longer an issue. The most important thing will then be "How can I best take care of the needs and desires of my clients and/or potential customers?" Once you figure out how to help the masses, money will also no longer be an issue. What a wonderful moment that will be!!!

Thank you so much for your precious time! Until we meet again, may everyday be one of joy, happiness and prosperity.

Millionaire Helena