Four Steps to Adopting a “Millionaire Mindset”

By: Romy Rivera Click author's name for more of his/her articles

Approximately there are 37 million home offices just in the US, according to the IDC, a well known research firm. In general, the number of home based businesses in the US might vary from 18 to 38 million.

Newsweek magazine reported that by 2005, 50% of the households in the United States were going to be involved in a home-based business! I'm sure that we surpassed the 52% by 2008.

In spite that according to the Home-Based Business Institute, about 70% of home-based businesses will last over a three-year period, compared to 29% of other business ventures; only about 20% of these businesses have a year income from $100,000 to $500,000 (Pittsburgh Business Times) and less than 1% earn more than $1 million per year (SBA's Office of Advocacy).

As you can see even though most business, home-based or not, start with the millionaire mindset to succeed and last, most give up before or soon after the third year from starting. What do you think is the main cause of this low success rate in home-based business?

I strongly believe that it all originates with MINDSET. This is the reason I regard mindset as the basic ingredient in the process of becoming self employed.

When starting your own business the most important thing you have to work on is your mindset. Most entrepreneurs would agree that building a business from zero is 90% mindset.

The best definition of business mindset that I've found is "a fixed mental attitude or disposition that predetermines the way you respond to everything around your business and life in general."

Can you adopt a millionaire or entrepreneur mindset overnight?

No.

Even if other people tell you otherwise. When you are starting a business by yourself, you need 90% of your entrepreneural efforts focused on shifting your mindset and this means that you will need a lot of time and pacience.

If you compare the mindset of an employee with that of an entrepreneur you will find that these two are almost opposite. Therefore, going from an employee mindset to a business person midset requires a 360 degree turn.

So here are the steps that I found helped me tremendously to go from being an employee for 13 years to becoming a business woman in less than 3 years.

1. Spend enough time defining your why. That is, why do you want to self employ yourself, why not keep being employed? Your why has to be strong enough to keep you going, if not you'll give up sooner than later.

2.Make a vivid picture of your goal. Devote at least 25 minutes of your day, prefarably in the morning, drawing a clear picture of how your life will be like when you achieve your goal. This step should be one of your most important daily habits.

3. Practice thought substitution. Make a list of all the thoughts you currently have that might in a way interfere with you achieving your dream. Thoughts like "I'm not a business person" "I'm not good at selling" "I know nothing about Internet" Substitute this type of thinking with the opposite: "I'm a business person" and "I will become a top Internet Marketer."

4.Train your mind consistently. It is totally possible to change your mind. However, you need time and consistent effort. Some of the best writers I've found on this topic are Jeffrry Combs, Harv Ecker and Wayne Dyer. I recently listened to Dyer's Excuses Begone audio program and I consider a great mind changer tool.

After practicing these 4 steps and making them part of your daily routine, you will easily shift your mindset and turn it into your most precious ally for achieving whatever you set yourself to acquire.

Article Source: ABC Article Directory

About The Author: Find a video version of "The 4 Steps to a Millionaire Mindset" in Romy's site. Romy Rivera is an Expert Internet Marketer and the author of the 9 videos formula to "Become Self Employed" Through Internet in 3 Months.