PPI #163: The Mindset of a Billionaire – Learn How To Think Correctly

Billionaires think a little bit differently than the rest of us. And today I want to share with you a handful of things that I've discovered by studying some of the greatest minds and billionaires out there so that you too can elevate your game and achieve the things that you're looking to do in your life.

Hi, my name is Eric Partaker and I've been recognized as the CEO of the year. And I'm also the author of two best selling books, including the Three Alarms. So one of the first things that I learned by looking at how all the billionaires out there operate is that they think deeply and wisely. Now, they don't necessarily think too long. They actually prioritize decisiveness, speed over precision, and they make their decisions quickly, but they do think deeply I about the things that they want to do or not do and then make wise decisions. And part of making wise decisions is recognizing that your decision doesn't need to be right. They don't actually put themselves in a situation where they're not able to move going forward because they're too worried about making a wrong decision. They think deeply, not too long, but deep enough to kind of arrive at a decision, and then they act. And if they're wrong, they accept that they're wrong. And then they make another decision and they act. And again. And that's a good segue to the second point, which is that they learn from their mistakes. If you study or talk to any billionaire out there, they'll say that absolutely integral to the path that they eventually, you know, went on and to the things that they achieved is that they learned from their mistakes, that their mistakes themselves were an incredible fundamental part of their evolution, growth and development. It's through their mistakes that they learned what to do and what not to do. And, and you need to almost think of your mistakes as. It's more like you're in a laboratory with a clipboard and you got your white lab coat on and you're doing all these experiments in work and in life and some of them work and you're like, great. And you tick those off, I'll do that again. Some of them don't. And you keep trying and you test out new hypotheses and you see what works and what doesn't. And the things that don't work, it's okay. It's just data in the end. And you take that data and then you factor it into your next move and your next decision. You're not afraid of making mistakes. You actually look to embrace them because you know that it's through the mistakes that you'll collect the valuable learning you need to reach the summit that you're going for. Number three, you'll see that billionaires are often very mindful of who they associate themselves with, and they tend to associate themselves with other successful and positive people. The late Jim Rohn said, you are the sum of or you are the average of the five people that you spend the most time with. Now, whether that's absolutely correct, it's kind of besides the point. The point is, is that you need to level up your team, you need to level up your squad. You need to make sure that you're spending time with people who are going to help you reach the next level, not keep you at your current level or pull you down to their level. So, so ask yourself right now, are you spending time with the people that matter most for the growth and the development that you seek? Number four, be aware that you don't know everything. And how great is that? That means that there's so much more to learn. I'm on a constant quest for continuous learning and development, consuming things and then trying to teach them to other people. And it's wonderful when you embrace the fact that there's so many things that you don't know, because it means that on the flip side of that, there's so many positive, exciting experiences waiting for you in the form of things that you have yet to do and learn. Number five, billionaires are savers. They pay themselves first. What do I mean by that? At the end of the month, one of their expenses, if you will, is to make sure that they're paying themselves something in the form of a savings account. They don't take their savings from what's left over. They actually decide, here's what I'm going to say first, and then they limit their expenses to what's left over from that. So ask yourself right now, do you pay yourself first at the end of every month? And if you're sitting back and thinking, I don't have enough to pay myself, well, at least developed a habit of doing this. Even if you pay yourself 1% of your monthly income, get into the habit of paying yourself something and save that so that that money can start going to work for you and, and compounding over time and creating the wealth that you're ultimately seeking. Number six, the billionaire mindset is a mindset of independence. Now, this doesn't mean that the billionaires out there aren't looking to, you know, work collaboratively. Collaboratively with other people to the contrary, they're absolutely seeking and wanting to do that because they know that success isn't achieved alone, that it comes through collaboration, that it comes through working and supporting others. But they also maintain their independence. They don't become overly reliant on just one person or one thing. They can step back from that. They can start afresh, start anew. So a good question for you again right now. Are you doing your best to maintain your independence? Are you your own person, your own space, with your own dreams, wishes and desires? Or are you dependent upon someone else? Number seven, billionaires share this mindset of being super active. This doesn't just mean in the gym or exercise. And it also means going places and experiencing new things. And this doesn't require having money. You can do this even without the money to finance, you know, elaborate, you know, trips or vacations. You can be walking and going to places and visiting and experiencing new things, but they're staying active. They're staying active socially, they're staying active mentally, they're staying active physically, they're staying active emotionally. So they're staying super active in all aspects of their lives. Number eight, billionaires all share having big goals. If you shoot for the moon, even if you miss, you'll still land amongst the stars. The wonderful thing about big goals, about goals that seem almost impossible to achieve, is that it commits you to action. You have no choice but to take action because the goal is so big, you can't wait around and be ready. At some point in the future, you, you need to start acting now, and you become hyper aware of your time. And it gets you dreaming again. And when you start dreaming again, you start feeling positive. And when you start feeling positive, you're in a better frame of mind, in a better position to achieve the things that you're looking to achieve. Number nine, billionaires divide their big projects into small stages. So what's that big lofty goal that you're trying to achieve right now? How can we break that down into three, five steps? How can we organize those steps across the weeks within a calendar quarter? Let's create sequences, let's create milestones that we want to achieve so that we can get a taste of success on our way to the summit that we're trying to reach. Last but not least, billionaires program their mind for success. And I'll give you a simple way that I've done this every single morning. So I have a technique that I use in the morning. I kind of think of the morning is a time where I'm going to rev the engine of the day. And so I have this acronym, IREV, the a.m. the Morning. The I stands for identity. I think about who am I at my best on the health front, on the wealth front, on the relationship front, and what will that version of me achieve? I make sure the R. The R stands for reading. I make sure I build in some time to learn and read something at the beginning of the day. The E stands for exercise to get me into that positive moodset, you know, get me full of energy. The V is visualize. You know, how am I going to act with excellence throughout my day? That's the I rev. And then the A stands for affirmations. What are some positive statements that I can say to myself? And then the M is for meditation. Even if it just for five minutes, how can I bring myself to a calm, positive state of mind? And if I rev the AM in this way every day and it takes only an hour for me to do this, and it really puts me in the frame of mind that I need to achieve the goals that I seek and also to weather the challenges that will inevitably appear throughout my day. And I'd love to hear from you. So don't forget to leave a comment and a rating as well. And if you'd like to get a copy of my new book, the Three Alarms, please head over to my website@ericpartaker.com that's E, R, I C ericpartaker.com or where you can pick up a free digital copy of my new best selling book, the Three Alarms.