Wealth Building - How Rich is Rich?

It’s actually quite hard to define in a dollar amount what rich is.

We often say so-and-so is rich because he or she has a high-income corporate job, buys brand new luxurious cars, dresses in fancy clothes and so on.

Although these are outward demonstrations of ‘rich’, crucially, that does not mean these people are wealthy (they might very well be of course but it’s not a given).

It’s actually quite hard to define in a dollar amount what rich is. It can be subjective and mean different things to different people. In addition, it can depend on where you live and the cost of living in that place. In 2003 Gallup poll of Americans the public's median definition of "rich" was an income of $120,000 - or assets of $1 million. But if you ask someone who already has $1 in assets they are likely to say being rich would be to have $5 or $10 million in assets. Some people are never happy!?

If you are rich, don’t be fooled into thinking you’re wealthy. If you’re not already rich, don’t worry about it, focus on being wealthy and you will be rich anyway. Whilst it may be difficult to know if you are truly “rich”, you’ll definitely know if you’re truly wealthy and for how long!

Discover some fast wealth building strategies and tips at www.MillioniareMindsetSecrets.com

To the Readers: How rich is rich for you? - share your personal view in the comments bellow : )

Wealth Building - Is “Rich” a Feeling?

Feeling rich is completely subjective.

In a way being rich is a feeling and you probably never think you’re truly rich or as rich as you could be.

Someone making $30,000 per annum will probably say that if they made an income of $100,000 they would see themselves as ‘rich’. How someone defines rich depends on their expectations and how they feel about it.

So the less money you have, the less money you think you'll need to become rich. And the wealthier you are I suspect the more money it takes to make you ‘feel’ rich. This is why very often the "rich" aren't feeling so rich.

As Mark Victor Hansen famously says: "The feeling of rich makes you rich. The feeling of poor makes you poor." It's is not the vice verse!

Discover some fast wealth building strategies and tips atwww.MillioniareMindsetSecrets.com

To the readers: Do you feel rich? If not, what do you need in order to feel rich? (share in the comments below)

Wealth Building - Better to Be Wealthy Than Rich

If you are a millionaire, are you by default wealthy?

If you strive to build wealth rather than just get rich you’re basically giving yourself the keys to the vault!

There’s a massive difference between being wealthy and being rich. Not all rich people can be wealthy but all wealthy people can be rich. Confused!?...let me explain.

If you are a millionaire, are you by default wealthy?... Ahmm, not necessarily so.

A millionaire by definition is someone whose net worth (asset value minus debt) exceeds a millionaire dollars/euros etc. However, if a person did have 1 million in assets but theses assets were not generating income then that person by my definition is rich but not wealthy.

These questions explain will help you get a better understanding of wealth and what is the difference between rich and wealthy - have a guess and let me know what do you thinks on each of them in the comments area below.

I will talk more on each of them in my next posts.

• Why Making Money Won’t Make You Rich?
• How Rich is Rich?
• Is “Rich” a Feeling?
• How to Best Measure Wealth?

Strive to build wealth rather than focus on being rich. You can build wealth by starting or running a profitable business, investing in real estate, etc. The key thing is to focus on generating future income from these assets. Now you are creating wealth. Discover some fast wealth building strategies and tips atwww.MillionaireMindsetSecrets.com

Business Startup Mistake # 2 – Not Choosing the Right People

Business Stratup - Failure or Success

That depends on whether or not you will avoid the two biggest mistakes that most business startups are bound to face:not creating a business system and not choosing the right people to implement the system.

A system without the right people to manage it is like a ship manned by drunken sailors, unmanageable and destined to hit the rocks. Choosing the right kind of people to manage a system is essential and will maximise your chances of success. Interviewing and selecting people is going to be a key part of your job as a business owner.

If both the system and the people building the system are flaky then the chances of failure are great.

Once you have selected the right kind of people,the work doesn’t stop there. You will be required to manage and lead your people often at the same time - motivating, monitoring, measuring and rewarding.

Motivation is an art, measurement is a science, monitoring is a skill, rewarding is fun! People are generally motivated by personal reward which in general takes the form of financial remuneration, job security etc. However, the best form of motivation is giving someone a simple compliment. And it doesn’t cost you a dime. Being genuine and saying something as simple as “well done, I like how you did that job” will do more for motivating your people and strengthening your business than any amount of cash reward.

In my view, your people are your biggest asset, not your customers. Properly motivated and managed people will crawl over broken glass for a good quality organisation with good leadership. Indeed, for the business owner, unlocking people’s potential is an extremely gratifying experience.

Finding the sweet spot between personal reward and organisation benefit is the key to success.

Find out more business startup success secrets at www.MillionaireMindsetSecrets.com for FREE and get access to a wealth of resources to help you build and grow your business.

Business Startup Mistake # 1 - Not Creating the Business System

Starting a business throws up many opportunities and challenges on a daily basis.

You are both head chef and chief bottle washer; creating the vision, devising your sales and marketing strategy, raising sufficient finance to fund the businesses growth etc. Now, add devising a whole business system into the mix and you’re gonna be knee-deep in a whole lotta challenges.

One way of looking at is asking yourself would you be better off investing time and money into building a pipeline(i.e. a system) rather than hauling buckets (i.e. no system). A lot of entrepreneurs have not worked in large systemised business or franchise operation before so they find it very testing and almost impossible to devise and implement a business system. Most small businesses are therefore hauling buckets.

The whole purpose of creating a business system is to allow you tocreate a business that will quickly run itself without your own day-to-day involvement. For most small business owners this is merely a pipe dream. The reason this happens is that not enough time is invested up front devising the systems to run the business. So avoid the mistake that 99% of self-employed business owners.

Read The E-Myth by Michael Gerber to help your find out more about what’s involved in creating your own business system. Finally, rather than trying to build a business system you may want to consider buying a franchise instead.

Educating, training and mentorship is widely available to help you avoid making these typical startup mistakes. But, what could you right now do to avoid these 2 typical small business startup mistakes? Well, help is only a mouse click away. Why not sign up NOW for more business startup success secrets atwww.MillionaireMindsetSecrets.com for FREE and get access to a wealth of resources to help you build and grow your business.

Business Startup Success Secrets – 2 Big Mistakes You’ll Probably Make

The hardest part about building a business from scratch is that you have 2 very big variables to contend with. One is the system and the other is the people building and running the system.

Let’s talk about 2 big business startup mistakes that are often made and what you as an entrepreneur can do to avoid them.

Business Startup Mistake # 1 - Not Creating the Business System

The whole purpose of creating a business system is to allow you to create a business that will quickly run itself without your own day-to-day involvement. For most small business owners this is merely a pipe dream. The reason this happens is...(Read more on this in my next post)

Business Startup Mistake # 2 – Not Choosing the Right People

A system without the right people to manage it is like a ship manned by drunken sailors, unmanageable and destined to hit the rocks. Choosing the right kind of people to manage a system is essential and will maximise your chances of success. Interviewing and selecting people is going to be a key part of your job as a business owner. If both the system and the people building the system are flaky then the chances of failure are great. (Read more on this in my next post)

Educating, training and mentorship is widely available to help you avoid making these typical startup mistakes.

But, what could you right now do to avoid these 2 typical small business startup mistakes? Well, help is only a mouse click away. Why not sign up NOW for more business startup success secrets at www.MillionaireMindsetSecrets.com for FREE and get access to a wealth of resources to help you build and grow your business.

Think and Grow Rich – 6 Surprisingly Simple Steps to Turn Desire into Gold - Steps 5 &6

The accumulation of wealth has nothing to do with chance, good fortune and luck.

Wishing will not bring riches. But desiring riches with a state of mind that becomes an obsession, then planning definite ways and means to acquire riches, and backing those plans with persistence which does not recognize failure, will bring riches. There are 6 steps to turn your desires into gold outlined in Napoleon Hill's book ‘Think and Grow Rich’ which have worked for countless others.

In my previous posts I have outlined steps 1 to 4 as follows:

• Step 1 - Pick a Number
• Step 2 - Give in Return
• Step 3 – Decide on a Date
• Step 4 – Create a Plan

Here are the last two steps to your wealth success:

Step 5 – Make a Statement

Draft a clear, concise statement of the amount of money you intend to acquire, the date by which you will achieve it, what you intend to give in return and describe clearly the plan through which you intend to accumulate this wealth. This statement becomes your affirmation of intent.

Step 6 – Read Aloud Twice Daily

Read you written statement aloud, twice daily, once before going to bed and once in the morning. As you read – see and feel and believe yourself to already be in possession of this money and wealth. Doing this exercise evokes the powers of autosuggestion which allows you to communicate the object of your desire to you unconscious mind. The unconscious mind in turn influence the conscious mind, its daily thoughts and actions.

It is important that you follow the sequence of steps described in this article and especially make sure you carry out point # 6 as this will ensure your money attainment and wealth creation programme seeps into your unconscious mind and you will become an unstoppable force just like a heat-seeking missile.

Find out more about Think and Grow Rich at www.MillionaireMindsetSecrets.com