Secrets of a Millionaire Spirit by T. Harv Eker

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I  read the book  ” Secrets of a Millionaire Mind ” by T. Harv Eker. This book is intended to help you create a wealthy person’s mindset. To become a millionaire, you don’t need to have any money to start with. All you need is a millionaire mindset. You will understand why.

T. Harv Eker believes that everyone has a “personal financial plan” imprinted on their subconscious.

This financial plan represents a person’s mindset when it comes to money and determines their wealth.

If this financial plan is negative and underdeveloped, the person will remain poor no matter what events in their life or what opportunities they encounter.

On the contrary, if the person has a positive and solid financial plan, they will be able to create wealth in their life no matter what.

If right now you don’t have the financial success you hope for, your financial state of mind is not up to your ambitions.

T. Harv Eker explains that this personal financial plan can be changed through work on yourself.

He has already transformed the minds of thousands of people who have now become wealthy with his guidance.

I have put together the most important principles of the book in this article in order to build you a rich mindset.

Follow these principles and you are guaranteed to be on the road to financial success.

I will refer to “poor” to denote people with a personal financial plan or negative mindset and poor about money, and to “rich” to denote people with a personal financial plan or positive mindset and rich in the face of money.

Principle # 1: Be responsible for your life

The rich think they are the creators of their lives and their financial wealth, while the poor believe that it is external events that keep them from getting rich.

The poor tend to behave like victims:

Blame others for what happens to them
To justify oneself
To complain
This victimhood mindset can in no way allow you to create wealth since instead of taking action, you spend your time complaining and blaming others.

You are passive, whereas to get rich you have to be active. To get rich, stop feeling sorry for yourself and take charge of your life.

Principle # 2: Be determined to be rich

People with a rich mindset are determined to get rich and stay that way for the long haul, while those with a poor mindset would like (or rather dream of) getting rich.

Only a small percentage of the population is wealthy. Why ? Simply because most people don’t make a commitment to get rich. It’s like a distant dream that maybe will fall from the sky.

Poor people are not ready to take the necessary actions to get rich. They are not determined enough.

On the contrary, rich people are 100% committed. They know their goal is to create wealth and they give themselves the means to do so: focus, courage, learning, effort, a winning attitude and perseverance.

Principle # 3: think big

People with a rich mindset think big while those with a poor mindset think small.

How to get rich? By creating value in the market.

4 factors determine your market value:

Offer: What is the market value of your offer?
Demand: does your offer meet a demand?
Quantity: How many people are impacted by your offer?
Quality: What is the quality of your offer?
If your offering brings maximum market value to as many people as possible, you can get rich. You have to think big by increasing the quality and the price of your offer.

The poor, on the contrary, do not believe in themselves enough to increase their value in the market.

Principle # 4: focus on opportunities

Rich people focus on opportunities while poor people insist on seeing only obstacles and problems.

As the rich have confidence in themselves and are confident that they will achieve their goals, they focus their attention on the opportunities, take the necessary actions and thus face many more opportunities than the poor.

Of course, they also encounter problems, but these do not bother them. The rich solve their problems and stay focused on their goals while the poor stop at the slightest obstacle.

Principle # 5: Surround yourself with positive and wealthy people

The rich see other successful people as inspiring role models. They are motivated and take inspiration from people who are successful in the fields they work on.

They follow their example by reproducing the same winning actions. Moreover, the rich surround themselves with motivated and positive people with whom they push each other up.

On the contrary, the poor do not like rich people and denigrate them.

They associate them with evil and selfishness when most of the rich have become rich, precisely because they bring value to others. The more value you bring to the market (and therefore to others) the more likely you are to get rich.

If you want to get rich but denigrate the rich, how can you achieve this?

This is impossible since your mind will prevent you from achieving this goal that you so denigrate.

Principle 6: Learn how to sell yourself

The rich are ready to promote whatever value they can bring to the market, while the poor denigrate everything to do with marketing and sales.

However, if you are not ready to sell yourself (goods or services), how are you going to be able to get rich? How is demand going to be able to buy you?

Denigrating marketing and selling is one of the biggest obstacles to building wealth.

The real issue is not whether or not you like promoting yourself, but knowing why you are promoting yourself.

Ask yourself these questions:

Do you believe in yourself and the value you can bring to the world?
Do you believe in your offering – the product or service you are selling?
Do you think what you have to offer can benefit other people?
If you believe in yourself and in what you can do for others, then why hide it? It is your duty to promote it.

So you will help as many people as possible and at the same time you will become rich!

Those who denigrate or have a hard time selling themselves are the ones who don’t believe in themselves and what they have to offer.

Principle 7: Learn to receive

The rich know how to receive, unlike the poor. When you don’t accept another person’s offer, you take away the joy and pleasure of giving. If you give someone a gift, would you prefer that person receive it with joy and thanks or rather reject it?

Also, when you are not ready to fully receive, you are training the universe not to give you.

The rich think it’s okay to be rewarded for the work and the value they bring to the market.

The poor, on the other hand, even if they work hard, do not feel worthy of being rewarded for the work and the value it brings. What will you bring to others if you stay poor?

In general, the poor work for money, so they have little time and money to spend on helping others. Don’t you think it would be best to help others from a comfortable position?

So be ready to receive whatever we give you in all areas: love, friendship, help, money …

Principle 8: Choose to be paid based on your results

While the poor choose to work for their time, the rich choose to be paid for their performance.

What do you think of the difference?

Our time is limited. If you base your income on your time, then you will be limited.

You should then increase your price per hour. It is possible, but as you can imagine, it is not endless.

A better approach is to get paid based on your results. Your results can be exponential and have few limits other than the ones you assign to them.

Most people are afraid of being paid for their results because they don’t believe in themselves and in their ability to drive results.

So they choose the convenience of hourly paid work, or rather what society calls “security.” They need to be sure they get paid at the end of the month.

Realize that the vast majority of millionaires have become rich from their own business income, not from working for another business.

By having your own business (company, investment…), you will be paid according to your results, and not according to your time. So there will no longer be a limit to how much you will be able to earn.

Principle 9: Learn to manage your money well

The rich know how to manage and use their money to their advantage, unlike the poor.

The rich aren’t smarter than the poor, it’s just that they’ve developed good financial habits.

Your financial habits are the result of your past conditioning:

Education.
Family.
Environment.
These habits are not final. On the contrary, they are flexible and you have the power to change them and turn them into millionaire habits.

You can either control your money or your money will control you. To be in control of your money, you simply need to manage your money better by changing your financial habits.

T. Harv Eker recommends creating 6 different accounts to manage your monthly income:

A “Necessities” account to pay all your irreducible expenses (rent, food, etc.) where you will put 50% of your income.

A “Financial independence” account where you will put 10% of your income. This money will be used to invest in assets or passive income investments.

A “long-term savings” account where you will put 10% of your income.

An “Education” account for you to train where you will put 10% of your income.

A “Pleasure” account to please you (restaurants, activities, etc.) where you can put 10% of your income.

 

A “Generosity” account to give to others (when we give, we receive in return) where you will put 10% of your income.

 

Principle # 10: Develop a System to Make Your Money Work Hard for You

When the poor work hard to make money, the rich have created a system to make the money work hard for them.

Working hard is important.

But working hard will not make you a millionaire on its own.

Rather than working hard, you have to work smart.

For the rich, working hard is only a temporary situation, for the poor it is a permanent situation.

Indeed, the rich work hard until their money works hard for them. The time it takes for them to build a wealth of assets and investments that generate passive money.

Here are the 3 main sources of passive income:

Perceived returns on financial assets such as stocks
Rents and other income received from real estate investments
Income received from a business that you own (and not manage)

Without passive income, you cannot become financially free and you will have a hard time becoming a millionaire.

Principle 12: Train yourself constantly

While the poor think they already know it all, the rich keep learning and training.

Getting rich can be learned.

One of T. Harv Eker‘s most famous quotes is “All the experts were a disaster to begin with”.

If you keep doing what you’ve always done, you will get the results that you always have.

The fastest way to get rich is to develop YOU.

That is, train yourself, learn and step out of your comfort zone to become the best person you can be.

To be rich requires to be rich on the inside.

The best way to train is to learn from those who have the results you want to achieve.

The rich listen to the advice of people who are richer than them, not their neighbors who probably know nothing about it.