The Way Millionaires View Money Is Much Different From Everyone Else

Doesn’t it seem like the rich keep getting richer while the middle class is stuck in the same old spot?

Economic inequality is a hot topic right now, and many people go as far as accusing the wealthy of having some sort of unfair advantage. Those are easy accusations to make, and they resonate well with some people. But the truth is, there are no unfair advantages.

Everyone has the same opportunity to acquire wealth.

The biggest thing holding back most people from striking it big are their thoughts, beliefs and philosophies about money. The differences between how the wealthy and the middle class look at money are as extreme as they are numerous. It’s as if the two groups are living on completely different planets.

So what are the money-making secrets of millionaires?

1. The wealthy focus on earning.

The masses focus on how to protect and hoard their money. The wealthy also know saving is important. But they know earning money is even more important. Most people are more concerned with the modest gains they accumulate from their savings and investments than they are with using their billion-dollar minds to create a fortune. Instead of focusing on clipping coupons and living frugally, the wealthy reject the nickel-and-dime thinking of the masses and focus their mental energy where it belongs: on the big money.

2. The wealthy use leverage.

In the minds of millionaires, leverage is everything. The wealthy strategically focus their efforts on the most profitable areas of their businesses while leveraging their contacts, credibility, and resources to maximize the results of every action they take. The middle class sees hard work as a badge of honor. The wealthy sees success as a more important badge of honor.

Think about what you were taught about hard work growing up. If you’re not exactly raking in the money, make a decision to let go of any limiting beliefs you have about hard work, and start thinking about how you can use leverage to become more successful.

3. The wealthy think about money in non-linear terms.

The masses trade time for money. This creates the belief that making money is a linear process directly connected to time. The average person believes the only way to earn more money — with the exception of raises and bonuses — is to work more hours.

Millionaires know big money requires thinking about it in non-linear terms. They are masters at generating money through ideas that solve problems. They realize there is no limit to ideas; therefore, there is no limit to how much money they can earn. Fortunes can be created almost overnight with the right idea at the right time, but only if the creator understands this non-linear phenomenon.

4. The wealthy see money through the eyes of logic.

The wealthy see money for what it is and what it’s not, all through the eyes of logic. Unfortunately, few people are able to think about money without clouding the subject with negative emotions, which come from dozens of middle-class beliefs that are ingrained in our minds when we are young. Emotions have a useful place in our lives.

But when it comes to thinking about money, put your emotions on the shelf and let reason be your guide. When you stop thinking about money through the eyes of emotion, you are free of the psychological chains binding you and free to earn all you can. Decide today to use logic to dictate your financial strategies and emotion to motivate yourself to stick to it.

5. The wealthy believe being rich is a right.

The average person believes being rich is a privilege awarded only to lucky people. World-class thinkers know in a capitalist country they have the right to be rich if they’re willing to create massive value for others. They believe if they make life better or easier for others, it’s their right to be rich. They’re always thinking of new ways to build a mousetrap — and are often scorned by the masses for being materialistic, self-absorbed and greedy.

The great ones believe they have the right to be as rich as the value they create. Stop believing self-made millionaires are just lucky. Start believing you are worth every dollar you earn and more.

The most important thing to remember about money is that regardless of your education level, IQ score, or performance in school, you have everything it takes to become a millionaire and earn all your desire. Stop thinking about money in terms of fear and scarcity, and start thinking about it through the eyes of freedom, possibility, opportunity and abundance.

If you’re rich, keep thinking the way you’re thinking. If not, maybe it’s time to change the way you think about money.

From Business Insider

5 SECRETS TO BUILDING AN UNSTOPPABLE PRODUCT

WHY DO SOME PRODUCTS TAKE OFF, WHILE OTHERS MAKE US WONDER, "WHY DIDN'T I THINK OF THIS?" IT STARTS WITH GREAT DESIGN AND AN EMPOWERED TEAM.

A product is only as good as the team that builds it.

Here’s what I’ve learned in 10 years of assembling successful teams:

1. MAKE SURE TEAM MEMBERS WITH DIFFERENT SKILLS HAVE THE SAME MISSION.

Everyone--developers, product managers, designers, growth hackers, customer support staff--should understand how their work and actions directly influence the product.

Early interactions--think job interviews--are key for implementing a product-first mentality. When team members recognize they share the same goal, productivity increases.

2. EMPOWER EVERYONE ON THE TEAM.

It’s all about giving team members the chance to be heard without repercussions. Hold regularly scheduled discussions in an open and convenient setting; we typically have them around lunch where everyone in the office can participate and voice their opinions on features we are currently building--or should be building. When someone has prepared for the discussion and delivers a passionate case for taking the product in a certain direction, their ability to “own” a piece of the process has an exponential effect on the quality of the product.

3. CLEARLY DEFINE THE PRODUCT’S PARAMETERS.

It is the CEO’s responsibility to define the constraints around the product.­ Blue-sky thinking is great when you’re just getting started, but as the product starts to settle and the market fit has been established, it is important for the CEO to clearly communicate and define the constraints within which the product will scale--these can be business constraints or product/feature based constraints.

4. DON’T COMPROMISE ON DESIGN.

We all know users are inundated with apps and web properties urging them to download or use their product.

Remember that there is a finite amount of time that your users have. In seven seconds or less, a prospective user is going to make a judgment about your entire product--this absolutely necessitates the need for beautiful and efficient design. If your product feels cumbersome to use in the first seven seconds, then you have have most likely lost her for life. Bad design is fatal in today’s market.

5. MISSION CRITICAL: REALIZE THE LAUNCH IS EVEN MORE IMPORTANT THAN YOU THINK.

Don’t just announce your product and expect reporters to come running. Make the time investment to figure out the various factors that could affect your launch week set up partnerships ahead of time, mobilize your initial beta users to ensure that these users are delighted by the features available during launch. If they’re not, postpone everything (you heard that right) and get to a more complete product before you launch.

From Fast Company

Always remember and never give up!

10 Easy Ways to Start Something Great

Bob had a big idea for the Dallas community, yet his first step was just asking a few people to meet to talk about it. Allen wanted to start a new business and he began by setting up coffees and lunches every day with those who could help him learn. Cynthia’s first step in changing the culture of the call center she worked in was setting aside time each day to walk around and listen. As a nurse, Lindsay’s first step in changing procedures in her neonatal ICU unit was bringing new information to her team meetings.

None of these first steps are daunting. It’s because the first step wasn’t the end game. It was just a way to get started and move. In my research for my book, Make Waves: Be the One to Start Change at Work and in Life, I’ve learned that those who start change are incrementalists. They know that progress happens and grows, but you have to start first – even if the first step is small.

I have had many conversations with others about their idea for a change-- or what I call a wave. I always encourage exploring and learning to find the first step. Getting started is the hardest part.

What’s your wave? How can you get started?

Here are some simple ideas that may help you create the right first step for you:

1. Schedule three meetings with smart people. Talk to those with knowledge about what you want to do. Ask questions. Listen. Don’t go in with a set plan yet. Good discussions can help you create yours.

2. Read a few books that push your thinking. Don’t view a book as the bible on your topic, but to spur ideas.  Menlo Innovations was first envisioned after Rich Sheridan started reading books about the new ways of leading a business and on design. A new idea emerged.

3. Invite knowledgeable experts over for a discussion. Create a time for a conversation about your ideas and ask those who could contribute for an hour or two of time.

4. Start an ideas notebook. Begin to research and collect ideas and interesting examples for your new business, product or non-profit. Writing down your thoughts and creating a file for inspiration can help your ideas emerge and grow. Share what you have learned with someone you trust.

5. Binge watch YouTube. Between TED Talks and thousands of other speeches you can listen to almost any speaker on almost any topic. Create your own personal viewing station. Take notes and write down important points that can help you develop out your plans.  Determine how to translate your key points into action.

6. Set up a shadow day. If you are interested in starting a business or expanding a non-profit, find someone who has done it and ask if you can join them for a day to better understand what their work is like.

7. Create the vision and impact you hope to have. Answer ‘what will be happening when you realize your change?’. What will the impact be? Don’t worry if you don’t know the goals and specifics yet. You shouldn’t – it’s too early. You should know your “why” though.

8. Find one small experiment. Find one small way to dabble in your idea. If you have a new product idea, try creating a few examples to see how it works. If you want to write a book, start a blog to try writing more and explore new topics. A good experiment answers questions so identify those upfront. Let your experiment guide your longer term decisions.

9. Write down your “must haves” including financials. I find that this is the step most often overlooked.  Your ‘must haves’ create boundaries for you. Questions like ‘can you invest in the business?’ or ‘ what are your minimum earnings required and for how long?’ make sure you know you your minimum requirements for your idea.

10. Create an options matrix. On the left column list out all of your ‘must haves’. Across the top row write out all of the viable options you have developed for getting started. Rate each option against your ‘must haves’. While this won’t give you the answer, it will help you compare one against the other and rule out choices that just don’t get you where you want to go. Pick the one that is the best place to start and begin.

When you are starting a wave, it hasn’t been before in quite this way. So, expect surprises and that you won’t have all of the answers upfront. Find your way to get started and move forward.

As Brett Hurt, the co-creator of Bazaarvoice said, “Motion creates motion. Momentum creates momentum.”

What’s your first step?

From Success

John C. Maxwell: A Guide for Making Tough Decisions

If you can't make them, you can't lead.

Good leadership is not a popularity contest. One of the most important days in my career was the day I realized that leading well was more important than being well-liked.

Anyone who has had this epiphany know it’s a tough moment: We’ve all wanted to be the “cool kid” since our grade school days. Now we sometimes find ourselves sounding like the principal.

But our careers are filled with difficult, sometimes unpopular choices, and our success rests on how we handle them. I once heard Colin Powell say, “Trying to get everyone to like you is a sign of mediocrity. You’ll avoid the tough decisions, you’ll avoid confronting people who need to be confronted, and you’ll avoid offering different rewards based on different performance because some people might get upset.”

We’re tempted to postpone and avoid tough decisions and hard conversations. The great American financier T. Boone Pickens once cautioned: “Don’t fall victim to what I call the ‘ready-aim-aim-aim-aim syndrome.’ You must be willing to fire.” Decide. Act. That’s your job as a leader.

How do you find the motivation to do what you wish you could avoid? How do you learn to do what others don’t want to do and say what others don’t want to say?

In a nod back to that grade school analogy, I’m giving you some homework. This worksheet will help you identify the decisions you have to make and the steps you must take in order to make them. Ready?

Step 1: Take Responsibility.

The bottom line is this: Nothing changes if nothing changes. Procrastination kills leadership effectiveness today and leadership potential tomorrow. Whatever is your biggest problem now will be your biggest problem next week and your biggest problem next month unless you do something about it.

List three decisions you’ve been putting off:

1. ________________________________________

2. ________________________________________

3. ________________________________________

Step 2: Prepare Yourself.

Are you feeling anxious about those looming choices? Let’s do some research to boost your decision-making confidence.

Pick one of the above problems. List the information you need to move forward and the experts and colleagues who can offer insight.

Info needed: __________________________________

___________________________________________

People needed: ________________________________

___________________________________________

Step 3: Reflect.

Once you’ve completed the first two steps, consider where that knowledge takes you. What insights did you gain? Did you discover things below the surface?

List your realizations:

1. __________________________________________

____________________________________________

2. __________________________________________

____________________________________________

3. __________________________________________

____________________________________________

Step 4: Determine your action plan.

What do you need to do before you take action? Should you meet with key influencers? Write a step-by-step strategy? Consult with an expert?

List your next moves and give yourself a deadline to make them.

Action: _________________________________________

Deadline: _______________________________________

Action: _________________________________________

Deadline: _______________________________________

Action: _________________________________________

Deadline: ________________________________________

Go through that four-step process, and I promise that decision-making will go from overwhelming to attainable. (Notice, though, I’m still not calling it easy!) Repeat that process for the additional situations you listed and the countless others you’ll face in your personal and professional lives.

Let me offer a few other strategies to make the process easier.

Act immediately. Although it is your responsibility to deliberate options and make educated decisions, you’ll also encounter situations in which you must think on your feet. Great leaders act with limited information. Don’t hedge! Take action using your knowledge and instincts to guide you.

Be confident. Don’t waste time and energy second-guessing yourself. Someone once told me that I have no rearview mirror. I believe that’s true: I have little desire to look backward. I make decisions and move on. You should, too.

Think payoff. Your motivation to act comes from the benefits you envision. Is your team morale likely to improve? Will productivity increase? Will you see an impact on the bottom line? Focus on those positives. It’s like going to the dentist—you may not look forward to the process, but the outcome is highly beneficial.

Change can be hard, but uncomfortable changes often lead to breakthroughs. In every challenge lies the opportunity for growth. One of the most difficult decisions that I ever made was leaving the organization my father led—the place I had committed 10 years of my life to. That decision was painful and a little frightening, but it was also the move that changed my career.

From Success

4 Things Remarkable Startups Have In Common

Why do some startups succeed and others don't? Here's a hint: It doesn't have to do with if an idea is good or bad. Indeed, the successful entrepreneurs are able to run with amazing concepts and pivot otherw when needing. There are a few more tried and true principles that can contribute to the success of your new company.

Among other things, these are four things remarkable startups have in common.

1. Founders are insanely passionate about the idea. Don't start a business without passion. You won't be able to see it through if you are not really into your idea. Founders of most successful startups started searching for solutions to a problem they cared about and made it their focus.  

"You have to be burning with an idea, or a problem, or a wrong that you want to right. If you're not passionate enough from the start, you'll never stick it out," Steve Jobs has said.

Founders with great passion tend to inspire others to greater success, and they look out for those traits in new hires. According to best-selling authors and workplace strategists Kevin and Jackie Freiberg, passion enables innovation and creativity and makes employees want to stay in their jobs and contribute, even when they’re not feeling their best.

2. They don't try to do too much at once. Laser focus is immensely crucial for the success of every new business. What is the one thing your startup is known for?  Your startup should be focusing on the one thing that makes you stand out. All the successful and well-known startups you know today are doing the one thing that makes them stand out.

For instance, Snapchat knows a picture is worth a million words and have allowed users to send photos and videos that disappear a few moments. Dropbox wants to be the go-to solution for uploading and sharing files in the world.. Most great startups start out to provide simple services or products, but as they grow customers and users tend to demand more, the company needs to improve and make solutions even better.

"The most important things for startups to do is to focus. Because there's so many things you could be doing. One of them is the most important. You should be doing that. And not any of the others." says founding partner of Y Combinator Paul Graham.

3. They value their customers and take great care of them. Does your startup know how to design and deliver great customer service? Successful startups are constantly seeking to satisfy their customers. The importance of reinforcing awesome customer service should be made clear among your employees. Design your products with the customer in mind. Remarkable startups listen and respond to their customers' evolving needs and expectations.

Strive to make your customers feel that signing up with you was one of the best decisions they ever made, and you will likely have their business for a very long time. As your product changess, the best opportunity you have at delivering the best service is a close relationship with your customers that value their feedback and user experience. Your customers are the people that support you, trust you and most importantly, rely on you for the service or product you offer. They could have chosen your competitors, but they chose you. Make them a part of your evolving development process. Startups that grow with their customers ultimately win.

4. Entrepreneurs don't forget the importance of culture. Successful startups establish and maintain some the best company cultures that promotes and motivates employees. The team behind a product or service is one of the most important factors for a successful business. The first people you hire for your startup are critical to your startup's success. And cultural fit is as equally important as competence when hiring your best people.

People with the right skills and personality are more likely to influence your small team to greater heights than just competent hires. Culture takes time and effort to build, but as long as you don't lose sight of it, you are on a journey to building a great company. It is well known that Google has a unique culture and some of the company's success can be attributed to this culture. 

From Entrepreneur

10 Things Only Exceptional Bosses Give Employees

Good bosses have strong organizational skills. Good bosses have solid decision-making skills. Good bosses get important things done.

Exceptional bosses do all of the above -- and more. (And we remember them forever.) Sure, they care about their company and customers, their vendors and suppliers. But most importantly, they care to an exceptional degree about the people who work for them.

And that's why they're so rare.

Extraordinary bosses give every employee:

1. Autonomy and independence.

Great organizations are built on optimizing processes and procedures. Still, every task doesn't deserve a best practice or a micro-managed approach. (Here's looking at you, manufacturing industry.)

Engagement and satisfaction are largely based on autonomy and independence. I care when it's "mine." I care when I'm in charge and feel empowered to do what's right.

Plus, freedom breeds innovation: Even heavily process-oriented positions have room for different approaches. (Still looking at you, manufacturing.)

Whenever possible, give your employees the autonomy and independence to work the way they work best. When you do, they almost always find ways to do their jobs better than you imagined possible.

2. Clear expectations.

While every job should include some degree of independence, every job does also need basic expectations for how specific situations should be handled.

Criticize an employee for offering a discount to an irate customer today even though yesterday that was standard practice and you make that employee's job impossible. Few things are more stressful than not knowing what is expected from one day to the next.

When an exceptional boss changes a standard or guideline, she communicates those changes first -- and when that is not possible, she takes the time to explain why she made the decision she made, and what she expects in the future.

3. Meaningful objectives.

Almost everyone is competitive; often the best employees are extremely competitive--especially with themselves. Meaningful targets can create a sense of purpose and add a little meaning to even the most repetitive tasks.

Plus, goals are fun. Without a meaningful goal to shoot for, work is just work.

No one likes work.

4. A true sense of purpose.

Everyone likes to feel a part of something bigger. Everyone loves to feel that sense of teamwork and esprit de corps that turns a group of individuals into a real team.

The best missions involve making a real impact on the lives of the customers you serve. Let employees know what you want to achieve for your business, for your customers, and even your community. And if you can, let them create a few missions of their own.

Feeling a true purpose starts with knowing what to care about and, more importantly, why to care.

5. Opportunities to provide significant input.

Engaged employees have ideas; take away opportunities for them to make suggestions, or instantly disregard their ideas without consideration, and they immediately disengage.

That's why exceptional bosses make it incredibly easy for employees to offer suggestions. They ask leading questions. They probe gently. They help employees feel comfortable proposing new ways to get things done. When an idea isn't feasible, they always take the time to explain why.

Great bosses know that employees who make suggestions care about the company, so they ensure those employees know their input is valued -- and appreciated.

6. A real sense of connection.

Every employee works for a paycheck (otherwise they would do volunteer work), but every employee wants to work for more than a paycheck: They want to work with and for people they respect and admire--and with and for people who respect and admire them.

That's why a kind word, a quick discussion about family, an informal conversation to ask if an employee needs any help -- those moments are much more important than group meetings or formal evaluations.

A true sense of connection is personal. That's why exceptional bosses show they see and appreciate the person, not just the worker.

7. Reliable consistency.

Most people don't mind a boss who is strict, demanding, and quick to offer (not always positive) feedback, as long as he or she treats every employee fairly.

(Great bosses treat each employee differently but they also treat every employee fairly. There's a big difference.)

Exceptional bosses know the key to showing employees they are consistent and fair is communication: The more employees understand why a decision was made, the less likely they are to assume unfair treatment or favoritism.

8. Private criticism.

No employee is perfect. Every employee needs constructive feedback. Every employee deserves constructive feedback. Good bosses give that feedback.

Great bosses always do it in private.

9. Public praise.

Every employee -- even a relatively poor performer -- does something well. Every employee deserves praise and appreciation. It's easy to recognize some of your best employees because they're consistently doing awesome things. (Maybe consistent recognition is a reason they're your best employees? Something to think about.)

You might have to work hard to find reasons to recognize an employee who simply meets standards, but that's okay: A few words of recognition--especially public recognition--may be the nudge an average performer needs to start becoming a great performer.

10. A chance for a meaningful future.

Every job should have the potential to lead to greater things. Exceptional bosses take the time to develop employees for the job they someday hope to land, even if that job is with another company.

How can you know what an employee hopes to do someday? Ask.

Employees will only care about your business after you first show you care about them. One of the best ways is to show that while you certainly have hopes for your company's future, you also have hopes for your employees' futures.

Now it's your turn: What exceptional thing has a truly extraordinary boss done for you?

Written by Jeff Haden