Review: How Ordinary People Became Millionaires
July 21, 2008 by Akemi Gaines
A Japanese study on millionaire mind
I found an interesting book titled “How Ordinary People Became Millionaires” written by Ken Honda (in Japanese – I’m bilingual and have access to the whole lot of resources non-Japanese speaking people have not. . .)
What’s really interesting is that the author surveyed not only the millionaires in Japan but also asked the same questions to non-millionaires. The result was startling. Millionaires do think and act differently from the rest of the population.
(Photo by Leefotos)
The millionaire mind is the entrepreneurs’ mind.
The book says four out of five millionaires surveyed made their fortune themselves. Even in old country like Japan, entrepreneurship is the main way to build wealth (51%, including independent specialists such as lawyers and accountants), followed by corporate senior management (24%) and heirs of inheritance (18%). So the millionaire mindset is also the successful entrepreneurs’ mindset.
Here is what I’ve learned about the millionaire mindset vs wannabes mindset. Which do you identify with more? (While the book often makes contrast between the Wannabes and real Millionaires, I did add my own 2c in Wannabes descriptions to supplement. I think I know what it is like to be a Wannabe. . .)
Wannabes: Unless I win the lottery, there is no way I can become a millionaire.
Millionaires: It’s very possible to be rich and I work hard every day toward this goal.
Wannabes: I chose my job for the pay and working conditions (such as location).
Millionaires: I chose my business because I love doing this, I am good at doing this, and I can make people happy doing this.
Wannabes: I hate what I do. When I get a better job, I’d work harder. (But I have little idea what that is.)
Millionaires: I do my best in whatever I am doing, and this is how I’ve found what I love to do.
Wannabes: I work to get paid. What else?
Millionaires: I work to grow as a person and to contribute to the society.
Wannabes: Show me the money.
Millionaires: The money follows me when I deliver value.
Wannabes: Millionaires use money lavishly.
Millionaires: It is critical to use money mindfully. Also, it’s important to get the best life out of things. (One proudly reports he has been driving the same car for 19 years.)
Wannabes: I’m not interested in money. Money doesn’t buy me happiness. (Actually, I think million dollars will make me happy, but I’m not going to admit it.)
Millionaires: Money is energy, and so it’s critical to grow big and strong as a person so that you can manage money, rather than being managed by money. No, money doesn’t automatically buy you happiness.
Wannabes: Luck is everything to get rich. And I have no control over luck.
Millionaires: Luck comes to those who do the honest hard work, and I can find and catch it.
Wannabes: I hate failures. I’m afraid of failures.
Millionaires: We learn through overcoming failures. My success came through learning from failures.
Wannabes: Gosh, I messed up! What am I gonna do? This is the end of the world.
OR, Well, maybe something will work out. . .
Millionaires: This is what happened, and these are the things I can do. Let’s prioritize them. I need to be honest and ask for help . . .
Wannabes: I have some friends, but I’m pretty much on my own.
Millionaires: I’m grateful for all the people who have guided me and supported me. I have the trust of many people (50+) because I always do my honest best.
Wannabes: What do you have for me? Right now? (Isn’t this how rich people use others?)
Millionaires: I treat everyone with respect. Relationships are for long-term, and it’s important to cultivate deep meaningful relationships. Luck often comes through people, but that is not the purpose of meeting people.
Wannabes: Mentor? You mean someone who can teach me job skills?
Millionaires: I have mentors. I learn more about life from my mentors.
Wannabes: I don’t like talking about work at home.
Millionaires: My spouse is my best supporter. We talk about everything. My spouse is the source of my courage and insights. (It doesn’t necessarily mean the spouse is involved in their businesses.)
Wannabes: Go to school, get good grades, get a good job.
Millionaires: The best education is the rich life experiences that prepares a person to changing times and to help the person to meet many people. It’s also important to find what you like doing through these experiences.
Wannabes: Education adds credentials to get a good job.
Millionaires: Education is not only about formal education. Any experience that you can learn the desired skills, such as apprenticeship, is good education. (Some reports taking low-paying jobs as a way to learn the trade and to build network.)
10. Vision and Decision-Making
Wannabes: Another hard day. Let’s just watch TV to unwind . . .
Millionaires: I think about what I’ll be doing 10 years from now, and prepare for it today.
Wannabes: I’ll think about it tomorrow.
Millionaires: Practice making many decisions. You need to shoot many times to get good at it. And do it fast. (The author reports the wealthiest group returned the survey answers the quickest.)
Wannabes: I’ll do it if I feel like it.
Millionaires: I have a clear vision for my life and business and make decisions based on the vision.
Wannabes: . . . (analysis paralysis) . . .
Millionaires: I make decisions intuitively.
What is surprising is there is nothing surprising about millionaires’ way of thinking.
Each statement is so common sense. Yet when you read carefully, you notice there is something extraordinary about them. For instance, do you have 50 or more people supporting you? Do you feel you can attract good luck?
Overall, do you see how millionaires take ownership of their lives, think long-term and positive while the wannabes are opportunistic, short-sighted and sound bitter?
Is this really the secret of their success?
Now some of you may be thinking “This is just BS. These millionaires are hiding the secret of their success.” Well, I don’t know any of them, so I have no reason to defend them, but I do think they mean what they say. Why? Because it makes sense.
Go back and read what they say, this time just the millionaires’ parts. Do you see how each aspect of their life work together with other aspects, making the whole a streamlined system of thoughts and actions?
They do the honest hard work and deliver value to their customers, which delights the customers, leading to attract more customers and business opportunities (=luck). When there is a problem, the people around them support them because they know they are trustworthy. They learn from their failures and grow stronger. When they go home, they are the same trustworthy person who love what they do, still talking and thinking about their businesses with passion. They learn from everyone and everything, and this feedback to their business growth . . .
There is no contradiction, no isolated aspect, no waste of energy. The whole system of their thoughts and beliefs is perfectly aligned with the universal truth of love and abundance.
I think this is yet another example of the Law of Attraction at work
It’s hard work, but it’s not just hard work. It’s a lot more than that. I think it’s the whole system of thoughts and action in alignment.
What do you think about these millionaires / entrepreneurs? Do you want to follow their way?
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