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Billionaires - September 20, 2022

How your Mind is Blocking you from Becoming a Billionaire

Successful people have one thing in common; the right mindset, as it is, can be very powerful. This mindset has seen billionaires unlock and maintain their financial freedom. While the mind has the ability to unlock potential, how you think can be blocking you from becoming a billionaire. 

However, the more you control your mind, the more mentally stable you will become. This way, you manage your thoughts, emotions and become more productive. These energies are also channelled into your money-making activities.

Like most billionaires, Manny Stul, the chief executive officer (CEO) of Moose Toys, has conditioned his mind to wake up early. Though a life-changing experience for him, it was hard initially.

He said, “It was a struggle at first. But after about two weeks, I woke up without an alarm. I never got out of the habit, ever. When I go to bed, I always wake up early and exercise for an hour.”

This has given him the time to prepare himself for the day mentally. Since building wealth starts with your mindset, here are some ways to stop your mind from blocking you from becoming a billionaire.

Thinking that money is the root of evil

This ideology has seen many people draw themselves away from success. Though money has exposed the bad blind side of some people, it has also shown the side of some through their different charitable activities.

This, in turn, has increased charitable organisations and philanthropy activities by some of the wealthiest people in the world. Their good cause has seen the improvement of the world at large. Some of Africa’s richest people, such as Aliko Dangote, Strive Masiyiwa, Tony Elumelu and Abdul Samad Rabiu, have contributed to the continent’s educational, health and entrepreneurial development.

From the research and markets report, the non-governmental organisations (NGOs) and charitable organisations’ market value was about $329.3 billion in 2020, with a compound annual growth rate (CAGR) of 6.9% since 2015.

This is to increase from $329.3 billion in 2020 to $457.8 billion in 2025 at a rate of 6.8%. It is also projected to increase at a CAGR of 4.9% from 2025 and reach $528.1 billion in 2030.

Thinking you’re not smart enough

The truth is that the wealthiest people in the world are not any smarter than you. The difference is that they have learned to overcome this thought and embrace themselves.

Before Walt Disney founded the media giant, he had numerous failed production and was labelled as lacking imagination. Disney went on to pioneer some filmmaking and animation techniques that changed the industry.

Another notable example is Steve Jobs, who was fired from the company he co-founded. Not relenting, he found his path back to the company in 1997 and brought the most significant growth and expansion to Apple. So if you want to make your share of billions, free yourself from the idea of not being smart enough and just take the step.


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Thinking short term

You need to do is change your mindset about building wealth. It takes years of hard work to build generational wealth. Elon Musk, the wealthiest man in the world today, made his first million dollars in 2002 after selling PayPal. Twenty years later, he is worth $273.2 billion. 

Likewise, the wealthiest man in Africa, Aliko Dangote, became Nigeria’s first billionaire in 2007. Fifteen years later, he became the wealthiest man in Africa. Change your orientation about money to move from your financial point to the next. To make more money, you need to consider a long-term investment of your time and money.

Warren Buffet said, “The reality is that when you invest for the long term, the time you spend in the market is more important than the time you enter the market.”

Thinking you have to do everything yourself

Nobody achieves anything alone. Having the mindset that it all depends on you limits your financial attainment. The fact is that, either directly or indirectly, someone assisted you in getting to where you are now. Instead of having the idea that you can do it alone, explore other talents as you never can tell what you will discover.

This is why it is said that teamwork means together, everyone achieves more. Alone there is a limit to where you can get to, but together, you will go far. Michael Jordan, a businessman and an ex-basketball player said, “Talent wins games, but teamwork and intelligence win championships.”

Fear of Outshining Your Peers

It may seem like there’s no reason to be scared of success, but the truth is that some people are terrified. This comes from the mindset of not wanting to be more successful than their peers. Instead of thinking you do not need to achieve more as you are comfortable with the group of people in your life, expand your network. Concentrate on the happiness and satisfaction you will attain from being successful. This fear is what differentiates successful people from ordinary people.

Steve Siebold, the author of How Rich People Think, said, “Successful people are operating at a level of consciousness where fear doesn’t exist.”


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