Steve Siebold’s 21 ways that rich people think differently

Who doesn’t love lists?

I know I do. My wife used to complain that I would make a list for everything.

Going to Las Vegas, I had my list. Off to Costco, got my list. Movies to watch, listed. TV shows to check out, another list.

The thing I love about lists is that it allows us to take ideas from our heads and get them down on paper in a concise manner.

And it seems that people love them to, especially on the Internet at least.

I would bet that most of you have clicked over to a “7 tips” or “3 methods” article on the Internet within the past week. I know I have, which is why I’m here.

I came across an article by Mandi Woodruff of Business Insider who interviewed Steve Siebold on his new book “How Rich People Think,” one that I have already added to my amazon shopping cart.

“21 ways that rich people think differently” was the title of the article and, considering the financial situation we find ourselves in today we could all use a little help, I thought I’d share them with you here today.

  1. Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil.
  2. Average people think selfishness is a vice. Rich people think selfishness is a virtue.
  3. Average people have a lottery mentality. Rich people have an action mentality.
  4. Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge.
  5. Average people long for the good old days. Rich people dream of the future.
  6. Average people see money through the eyes of emotion. Rich people think about money logically.
  7. Average people earn money doing things they don’t love. Rich people follow their passion.
  8. Average people set low expectations so they’re never disappointed. Rich people are up for the challenge.
  9. Average people believe you have to DO something to get rich. Rich people believe you have to BE something to get rich.
  10. Average people believe you need money to make money. Rich people use other people’s money.
  11. Average people believe the markets are driven by logic and strategy. Rich people know they’re driven by emotion and greed.
  12. Average people live beyond their means. Rich people live below theirs.
  13. Average people teach their children how to survive. Rich people teach their kids to get rich.
  14. Average people let money stress them out. Rich people find peace of mind in wealth.
  15. Average people would rather be entertained than educated. Rich people would rather be educated than entertained.
  16. Average people think rich people are snobs. Rich people just want to surround themselves with like-minded people.
  17. Average people focus on saving. Rich people focus on earning.
  18. Average people play it safe with money. Rich people know when to take risks.
  19. Average people love to be comfortable. Rich people find comfort in uncertainty.
  20. Average people never make the connection between money and health. Rich people know money can save your life.
  21. Average people believe they must choose between a great family and being rich. Rich people know you can have it all.

Having been blessed to know a few multimillionaire friends, I wholeheartedly agree with everything on the list.

There are those people who think that rich people are greedy, selfish, cold or whatnot but money doesn’t make you any of these. What might surprise you is that how much money people have doesn’t change who they are. Money simply acts as an amplifier.

We are who we are.

The richer we are, the more “us” we become.

A selfish person that comes into money becomes even more selfish. A liar who strikes it rich will lie even more.

Money is nothing more than a piece of paper or digits on a screen but one thing it most certainly is is powerful. It affects how we see things.

Anyway, I’m not here to discuss the potential dangers money poses, that’s just something to be aware of. Instead I’d like to comment on a few of the statements that made Steve Seibold’s list.

Number 4 talks about education, something near and dear to my heart and with 22 years of experience behind my belt I couldn’t agree more that we need specific skills to stand out today.

In my father’s generation a college degree was enough to separate you from the pack. Today, college is the pack.

Companies are looking for standouts, meaning people who have gone the extra mile. Yes, they have a formal education but on top of that they have attended a 4 day intensive training program on so-and-so. They want to hear that you spent 4 months working at XYZ corporation as an unpaid internship. They want to know that you have done something with the knowledge you have acquired.

Number 15 talks about education vs. entertainment something I heard about when interviewing Kyle Wilson(who heard it from Brian Tracy). I believe that Jim Rohn illustrated this best when he explained the difference this way: short term fun (aka entertainment) is a day at the beach, disciplined effort (education) is owning the beach.

I used to be the kind of person who watched 3-5 hours of TV a day. Now it’s at most 2. What do I do the rest of the time? That’s easy – work on my website, listen to motivational speakers (just spent 30 minutes this morning), read an educational book (marketing and leadership as of late), put together another podcast or study finance.

It is tough? Sure…but it’s completely worth it because I know I’m working toward my dream each and every day in one form or another which brings me to numbers 5.

We all know we can’t change the past, and yet so many people focus on it. Their failures, their mistakes, their story of woe…they may very well be true but don’t let them take away from your future. The future is not set in stone so if you don’t like where you find yourself today, CHANGE. Turn off the TV, go for a jog, put down the potato chips, hang out with a different group of people, listen to classical music…something, anything. Learn from the past but don’t let it be an anchor.

Finally number 9…the concept of DO vs. BE. Most people think that by doing something you become something. Makes sense, right? But in actual fact that’s just not how it really works.

By being the person you want to be, you do the things that make you successful.  Start not by doing, but by being…by educating yourself.

Make the changes inside and it will be felt on the outside. Yes, we do need to do…but only after we know just what to do.

I challenge you to  think about each statement on the list,  even if you don’t agree with them, and see if you can understand why he came up with this list. It’ll open your eyes.

Adrian Shepherd

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