If you follow any influencers (or pay attention to social media at all), you’ve probably heard someone mention the millionaire mindset. It’s a staple of hustle culture. People casually mention having a millionaire mindset, or tell you that you need one, but what exactly does that mean? Is it something people learn on their own?
A millionaire mindset is not actually about making a million dollars. It’s not even about your net worth, living in a penthouse in New York, real estate, financial freedom, or your bank account.
To those who swear by it, a millionaire mindset is about focusing on changing your life — starting with your mindset — to accomplish the goals you've always dreamed of achieving. It's no small task, either. You must follow purposeful habits and ways of thinking daily.
The idea is that millionaires live in a place of abundance that lets them experience greater success and confidence. If you want to achieve your goal, you start by behaving as if you already have. In that space, your success fuels more success.
What are the habits of a millionaire mindset?
Before we dive into millionaire mindsets, know that asking for help is a great place to start. Having an objective outsider, like a mentor or coach from BetterUp, can help you identify the changes you need to make to your lifestyle and guide you to develop the skills that will propel you on your journey.
But what do you have to do to have a millionaire mindset? Here are eight habits of “millionaire thinking” for you to try out:
1. Focus on your goals
If you don't have your goals on your mind, how are you supposed to reach them? Your goals could be financial growth, stronger well-being, a particular career path, or any other dream. Make a habit of thinking about what you want to achieve. (On average, forming a habit takes 66 days.)
Once you have your goals in mind, write them down and keep them where you'll see them often. They'll always be there to remind you what you're working for, even on tough days.
2. Get comfortable with always learning
People often forget that the world always offers you something to be a beginner at and start fresh. When working toward achievements, you may have to switch up your strategies a bit. Learning to adapt to constantly new changes might help you realize that your practices weren't benefiting you before.
Small skills help as well. Take note of all the new skills you learn and be proud of how you've continued to push forward.
3. Put yourself out there
You can't achieve your goals by never leaving your house or talking to anyone. Networking and paying attention to how you present yourself are essential. If you're trying out a business pitch, you need to be confident while expressing your passion.
People recognize and remember bold, passionate, and courageous individuals speaking about their goals. Networking can help you connect with like-minded individuals who share the same drive as you, too — and maybe even a friend.
4. Be patient
It can be frustrating to feel like you’re hustling without being rewarded, but don't let this deter you from focusing on what you want in life. You can’t change your life in a week. It's okay if you don't meet your personal development goals when you’d hoped.
Good things take time, and just because things don’t always happen when you want them to doesn't mean they never will.
5. Accept mistakes as they come
To grow and learn, you have to make mistakes. You shouldn't look at mistakes as things to avoid at all costs, but instead, opportunities to learn from. Remember, too, that there is a difference between sloppy mistakes (avoid those) and plans that don’t work out but give you more information and insight to try a new tactic.
Failures are opportunities to learn about yourself and your team and offer a great way to develop new skills for the future. Instead of dwelling on your mistakes, reflect on them, and accept them as you continue to grow.
6. Don't forget about sleep
To do your best work, you need to be well-rested. We all have busy days, but catching up on sleep helps your mind and body. It can be easy to stay up late and push ourselves too hard when our to-do list is full, but this isn't sustainable.
Even when you think an extra hour of work will get you closer to your goals, it will likely further exhaust you and harm productivity. Next time this happens, make the mindful choice of sleep. A well-rested body and mind will make you more motivated and ready to start your day.
7. Keep growth in mind
Professional and personal growth is inevitable as you’re working towards your goals. Keeping a growth mindset during your journey to success is crucial to remind you of your beginning.
If your goals are long-term, take the time and review your progress. Not only will you feel a sense of accomplishment, but you'll be more motivated too. If you're ever discouraged, dividing your goals into several tasks can make your progress feel more tangible.
Growth doesn't come overnight and without hard work, which you've done. Thinking about your growth will give you a sense of pride that you should cherish.
8. Stop making excuses for yourself
Excuses will hold you back from pushing forward and achieving your goals. Do you have a problem? Try out some time-tested problem-solving techniques. Try to address problems instead of blaming your setbacks on other factors or complaining.
Work with a trusted coach or mentor to understand what is holding you back or causing an issue. Focus on making behavior changes to create change for yourself. Whether that means asking for help, changing your approach, or even taking a break, remember that the worst thing you can do is let your excuses consume you.
What are some pro tips to achieving the millionaire mindset?
Everyone wants to know the biggest, most effective tips on achieving the millionaire mindset, but the most important tips to keep in mind aren't telling you to buy certain products. They’re about honing in on the new lifestyle this mindset brings you.
Believe in yourself
The millionaire mindset isn't something you can follow for three days and then reap the benefits forever. It may take more time than you'd hoped. Believe in your ability to reach your goals one day. Remember that you're doing your best, and that's all you can ask for when trying to become the millionaire next door.
Be respectful along the way
As you go through this lifestyle change, you're bound to encounter some frustrating times and people. It's okay to feel annoyed or disappointed, but try your best to be as respectful as you can. Once you reach your goals, it'll make you feel more accomplished knowing that you respected everyone who helped you along the way.
Keep love in mind
You're adopting this new mindset for a reason. Whether it's to benefit yourself, family, friends, society, or all of them, you're doing this with purpose. Keeping that love in mind will focus and motivate you even on your most challenging days. Reminding yourself of your purpose will propel you forward.
If you need help getting started, BetterUp has your back. We can help you identify your strengths and reach your full potential. Now that’s a millionaire mindset.
