THE HABITS AND MINDSET OF A MILLIONAIRE ENTREPRENEUR

A typical millionaire Internet marketer has certain habits and mindset that ensures their consistent success. For these entrepreneurs, success is not coincidental. These habits or mindset may be gained innately or by developing them through training and self development.

Below are just three of these habits or mindset.

Time is extremely precious to the millionaire online marketer

The millionaire online marketer is always guarded with the use of his time. In almost every single activity that he is engaged in, he will analyse either deliberately or mentally how effectively he is using his time. Many millionaires will have an estimate of how much they are worth per hour and set goals around increasing their value per hour. This is the reason why successful Internet marketing trainers, for example, charge high prices to deliver training. As they get more successful and people make more demands on their time, they charge even higher prices.

They also split up their days into revenue and non-revenue producing times. Non-revenue producing times are usually late at night, where they afford themselves the treat of actually watching television for example. Revenue producing time is when they are hard at work, either growing their business or helping others do the same. Even their personal development is undertaken in their non-revenue producing time. This implies a high level of planning and organising on their part. They are very consistent and persistent and in control of their actions and words. If you ask an online marketing entrepreneur for help or have a chat with him, he is likely to bring time into your conversation. Do not be surprised if he asked you something like, “what can I do for you in the next minute?” He is probably in his revenue producing period and you are infringing on his time.

Making Money is not enough

The common mistake of new Internet marketers is to be seduced by the amount of earnings they could potentially make with an online marketing business. This is simply not good enough for the millionaires in the industry. They are more interested in profits. For them managing the money they make is what really counts. They are always looking at ways of improving their returns for every $1 spent.

Helping others make money is very important to them as well. This is the reason they are likely to spend the bulk of their time with only relatively few members of their teams. These are the members who they have identified as demonstrating the habits and mindset required to be successful. In online marketing, the success of these team members means residual income for the millionaire, so that is all the justification they require.


They are psychologically unemployable

This is a very important mindset in online marketing. The majority of the success stories in online marketing will tell you they fired their boss before striking it rich and spent the next couple of weeks or months questioning their own sanity. However, they have the mindset that failure is not an option in their business and will do whatever it takes to succeed. They use the fear of going back to work for somebody else as motivation to succeed. In their minds, quitting and returning to work is one of the worst things that could happen to them. The strength in potential adversity drives them on.

The millionaire habits and mindset can be developed but it requires a lot of focus and discipline. Good planning and organising skills are also required as well as total respect for time and money. They develop a loathing for working for someone else that drives their success.

IS A LEADER BORN OR MADE

I have been thinking about this for a long time. Is a good leader born or made? Some people say leaders are born. That may be true in the case of a monarchy for example. I am absolutely convinced that anyone can become a good leader, as long as they have a mindset to become one. What is that mindset?

A good leader is one who is committed to serving rather than being served. This means the leader must focus on meeting the needs of the people being led. In network marketing, this involves providing a significant proportion of your time, coaching, mentoring and supporting members of your team. This is the surest way to grow your business and reduce attrition.

Too often, people think of great leaders as people who have vision and go on to achieve it to a certain extent, like Adolf Hitler. I do not consider this great leadership as it is unsustainable. People eventually feel manipulated and this could affect morale and sometimes even lead to rebellion. Therefore, a good leader is also one who identifies the needs of the people he or she leads and tailors his vision to meet these needs. In network marketing, for example, a leader could set a vision of creating a certain number of millionaires from among his team within a certain period.

A good leader must be adaptable to situations and recognise that a one-size-fits all approach is not the right approach. The leader must adapt his leadership to fit the occasion, the individual or the circumstances. She must demonstrate a high level of integrity – this is very important as people are likely to follow those whom they respect and trust.

We all demonstrate traits of both good and bad leadership. We can choose to deliver more consistent good leadership through personal development and self evaluation. Most importantly, by listening to and meeting the needs of our team members, success is almost guaranteed.