Secrets of the Millionaire Mind: Wealth File #5 Rich People Focus on Opportunities, Poor People Focus on Obstacles

This is a chapter-by-chapter summary of a book by T. Harv Eker’s Secret of the Millionaire Mind: Mastering the Inner Game of Wealth (2005) series. One chapter, one article. Read this summary, buy the book. Enjoy!

Wealth File #5:

Rich People Focus on Opportunities.

Poor* People Focus on Obstacles.

Poor people’s primary mindset is “What if it doesn’t work?” or more often, “It won’t work.” Rich people, on the other hand, take responsibility for the results in their lives and act upon the mindset, “It will work because I’ll make it work.” Rich people expect to succeed. These are completely opposite mind-sets. Poor people see obstacles while rich people see opportunities. Poor people focus on the risks while rich people focus on the rewards. No risks, no rewards. Harv Eker states that as soon as there is an opportunity, rich people gather as much knowledge as quickly as possible to make their decision. They go for it or not. Poor people claim to be preparing but what they’re usually doing is stalling. They’re scared and wait until the opportunity has gone along the way.

“The idea is to get in the game with whatever you’ve got, from wherever you are. I call this entering the corridor,” says Eker. The point is that no luck – or anything else worthwhile – will come your way unless you take some form of action. “I call this being an ACTION-TAKER.” The author advises us to enter the corridor and then correct along the way. So, act and enter the corridor before you feel perfectly prepared. You will never be perfectly prepared, never! Entering the corridor means getting into a business, learning about a business, not from the outside (Yes, I will have my first small business with my partner next year! Yea!). So, if you want to become a hotelier, for example, it is wise to visit a hotel first. And also, work in a hotel first. Get to know how a hotel works from the inside. From the outside, you don’t see a thing…

If you really want to learn a business, get into it, says Eker, “You don’t have to own the darn thing from day one.” If you remember Harv Eker’s motto: Action always beats inaction. And don’t be the poor person who is still preparing, planning, analyzing and waiting… If you’re always “preparing” and “getting ready,” it’s like you’re waiting for someone else to take the chance. Don’t wait and see but act and see. You can still do some corrections along the way, it doesn’t need to be perfect from day one. If you’re like me, a guy, you’ve probably been in a situation like this (if you’re a lady, imagine): You’re out with your friends and there is a girl you like in the same bar. You wait and wonder what you’re going to say to her – you’re preparing (but you’re also stalling because you’re afraid of rejection or whatever). Suddenly, Bang! There’s another guy with her. You’ve just missed the damn chance! That guy is not better than you, he just took action. That’s the difference! You've outwaited the opportunity.

So, from now on – TAKE ACTION. Get in the corridor when there’s an opportunity. Action always beats inaction. Don’t wait for the opportunity to pass. Place your hand on your heart and say, “I focus on opportunities over obstacles,” “I get ready, I fire, I aim!”

[*I need to note that the Harv Eker makes it clear in this book that he does not mean to degrade poor people. He does not think that rich people are better than poor or middle-class people. They’re just richer.]

I Have A Millionaire Mind!