Secrets of the Millionaire Mind: So What the Heck Do I Do Now? (End)

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!

“If you want to change the fruits, you will first have to change the roots.
If you want to change the visible, you must first change the invisible.”

(Harv T. Eker)

An old saying, “What you hear, you forget; what you see, you remember; what you do, you understand.” As you read Secrets of the Millionaire Mind, do you remember Eker’s motto? Exactly, action always beats inaction! That’s why I suggest that you get started. Take the ONE Wealth File that you liked and/or needed the most and read it again and follow the action plans. Think of what you could do RIGHT NOW that would bring you closer to how rich people think and act. That’s the first step. It’s your actions that count!

Now, reading is a start, of course, but if you want to succeed in the real world, it’s going to be your actions that count. Reading is an action as well, and reading great literature is a HUGE step in the right direction. Still, it is very important to integrate what you’ve learned into your life. Otherwise, it doesn’t help you grow. Getting rich said Eker throughout this book, takes focus, courage, knowledge, expertise, 100% of your effort, a never-give-up attitude, and of course, a rich mindset. So work on yourself. Work on your thinking. Work on your mind. Work on who you are. And if you choose to be rich, or better – if you commit to being rich – then it helps to know that the most important ingredient to self-made millionaires’ success is the MILLIONAIRE MIND!

I Have A Millionaire Mind!

Secret of the Millionaire Mind: Wealth File #17 Rich People Constantly Learn and Grow

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 #17:

Rich People Constantly Learn and Grow.

Poor People* Think They Already Know.

Becoming rich isn’t as much about getting rich financially as about whom you have to become, in character and mind, to get rich. “The goal of creating wealth is to help you grow yourself into the best person you can possibly be,” writes Harv Eker. An adage says, “You take yourself with wherever you go.” If you grow yourself to become a successful person, in the strength of character and mind, you will naturally be [almost] successful in anything and everything you do. You will gain the power of choice. You will gain the inner power and ability to choose any job, business, or investment arena and know you’ll be a success. This is the essence of this book. This, I think, is MASSIVE.

“Getting rich is about who you have to become as a person to get rich.” Who do you need to be to get rich? That’s a powerful question. When you sincerely answer it, you’ll know to get rich is about you, and nothing else. “The fastest way to get rich and stay rich is,” revealed Eker, “to work on developing you!” You need to grow. What does that mean? Grow in height? Not so much. Grow your hair? Nope (I’m offended!). Grow in character? Yes. Grow as a person? Yes, that’s it! It’s about continuous improvement of self. To try every day to become the best version of ourselves. In short: If you are not growing, you are dying. Jim Rohn once said, “If you keep doing what you’ve always done, you’ll keep getting what you’ve always got.” So start growing!

One way to get started is to realize that: WE CAN CHANGE. It has never been easy, I know, but we must change… or die. If you want to be successful, you have to copy the successful people. Start with that. If you want to have a great body, you have to copy models or bodybuilders. If you want to be a great salesperson, you have to copy great salesperson. If you want to be rich, then, you have to copy rich people. This is all learnable. “Rich people take advice [or follow examples] from people who are richer than they are,” compares Eker, “Poor people take advice from their friends, who are just broke as they are.” You just need to change something in your lives. You need to take the actions [refer to Wealth File #16] that are necessary to become who you want to become. You need to constantly learn and grow. “The more you learn, the more you earn.” So true!

I Have A Millionaire Mind!

[*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.]

Secret of the Millionaire Mind: Wealth File #16 Rich People Act In Spite of Fear

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 #16:

Rich People Act In Spite of Fear.

Poor People* Let Fear Stop Them.

“Action is the ‘bridge’ between the inner world and the outer world,” writes Harv Eker. Because we are the creatures of habit, we need to practice acting in spite of fear, in spite of doubt, in spite of worry, in spite of uncertainty, in spite of inconvenience, in spite of discomfort, and even to practice acting when we’re not in the mood to act (“It is not necessary to try to get rid of fear in order to succeed”). “If you are willing to do only what’s easy, life will be hard,” explained Eker, “But if you are willing to do what’s hard, life will be easy.” Wow! Take action is the cue! All we’ve learned so far – all the wealth files – is useless if we don’t act. It’s simple as that. If you understand that managing money is crazy important for you but you don’t do it, then what does it help you? Nothing… N.O.T.A.D.A.M.N.T.H.I.N.G.!

It’s easy. Let’s assume that most people know that eating healthy and exercising regularly are important for their health. Then why are health issues bigger than ever before? Because people do not act in accordance with what they think or know is the right thing to do. I don’t say it’s easy to act that way, but it is necessary… at least if you want to be healthy or in this book case, be rich. I have to admit, action can be difficult. Maybe you’re scared, maybe you feel not talented enough, maybe you feel uncomfortable or maybe you are just lazy. But what if sometimes we need to be scared, uncomfortable and make an effort? Well, that’s at least what rich people do said Eker. They act in spite of fear or discomfort. “The only time when you are actually growing,” Eker reasons, “is when you are uncomfortable.” If you are willing to act in seemingly tough circumstances, then you are going to succeed. Life will be easier. If you don’t act, you just stay where you are… or you will even go backwards. For you own sake, take the actions that are necessary for your growth!

Poor people are not willing to be uncomfortable. Being comfortable may make you feel warm, fuzzy, and secure, but it doesn’t allow you to grow. They only time you can actually grow is when you are “outside of your comfort zone.” The minute you get comfortable, you have stopped growing. So, the only way you can grow is when you’re outside your comfort zone. Ask yourself: When was the last time you were outside your comfort zone? I’m sure that was uncomfortable at the moment, but it felt great afterwards. Well, that’s growth! And that’s what you should do every day. Keep living at the edge. Keep living where we don’t feel completely safe and comfy. That’s where we grow!

I say it again: Fear and discomfort should not stop you! Fear most often is based on some (often out of one’s mind) idea of our mind. “You mind is the greatest soap-opera scriptwriter in history.” We, however, have the power to control it and even when our mind goes nut we still have the power to think more rationally and see that often our mind is silly. Eker puts it this way, “Training and managing your own mind is the most important skill you could ever own, in terms of both happiness and success.” Harv suggests starting by observing your mind. What do you think? I mean, literally, what do you think right now? When you do that, you observe your thoughts. When you consciously do that, you can decide whether you want to follow a thought or just let it go and wait for another one. When there is a thought of fear, just let it go. When there is an empowering thought, let it come. “Choose to entertain only empowering thoughts while refusing to focus on disempowering ones,” says Eker. Keep this in mind:

Your thoughts do not run you, you run your thoughts.

So, act in spite of fear and in spite of discomfort.

That’s a necessity for all you want in life…

I Have A Millionaire Mind!

[*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.]

Secret of the Millionaire Mind: Wealth File #15 Rich People have Their Money Work Hard for Them

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 #15:

Rich People have Their Money Work Hard for Them.

Poor People* Work Hard for Their Money.

“The more your money works, the less you will have to work,” said Harv Eker. The idea that you have to work hard to get rich is “bogus”! Eker suggests that if you want to be rich, let your money works for YOU. The magic word is working smart. That’s what the rich people have mastered, he said. The rich no doubt has to work hard, but only temporary. They work hard like everybody else but they think long-term and what they do with their money is smart – they save it to invest it later. First, they work hard for their money and later, they let their money work hard for them. Why do they do that? Because they want to be financially free!

“My definition of financial freedom is simple,” writes Eker, “It is the ability to live the lifestyle you deserve without having to work or rely on anyone else for money.” How is that possible? He said you need passive income. In short, you become financially free when your passive income exceeds your expenses (Income > Expense). There are two primary sources of passive income outline this wealth file. The first is “money working for you.” This includes investment earnings from financial instruments such as stocks, bonds, or other assets that “appreciate in value and can be liquidated for cash. Assets are the key here. These are investments in things that (hopefully) gain value over time.” Like buying land and selling it at a later point (when it has gained value).

The second major source of passive income is “business working for you.” This entails generating ongoing income from businesses where you do not need to be personally involved for that business to operate and yield an income. An example of this would be buying real estate and rent it out. “The idea of passive income is to generate income without having to actually work. Yes, this is possible!” Eker emphasis this: “Rich people think long-term. They balance their spending on enjoyment today with investing for freedom tomorrow. Poor people* think short-term. They run their lives based on immediate gratification.” You have the power to make choices. It’s a matter of priorities. “Poor people think now, rich people think balance.”

So, make the right choices and save some money today so you can invest tomorrow and be financially free the day after tomorrow. Like what Eker said, “Rich people see every dollar as a ‘seed’ that can be planted to earn a hundred more dollars, which can then be replanted to earn a thousand more dollars.” Awesome! From what I’m reading, that how the rich got rich! Hard work today, smart work tomorrow, and no work the day after tomorrow… pretty cool, right?

[*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!

Secret of the Millionaire Mind: Wealth File #14 Rich People Manage Their Money Well

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 #14:

Rich People Manage Their Money Well.

Poor People* Mismanage Their Money Well.

Thomas Stanley, in his best-selling book, The Millionaire Next Door, surveyed millionaires and one of the results of his finding can be summed up in one short sentence: “Rich people are good at managing their money.” Rich people are not any smarter than poor people*, they just have different and more supportive money habits. That’s important! Not smarter, but know how to manage their money. The issue is not intellect, but habit and action. To put it simply: To master money, you must manage money! And to manage money to you need to take action – learn, learn, learn, and try, try, try.

The saying, “I’ll start managing my money as soon as I get caught up” is like an overweight person saying, “I’ll start exercising and dieting as soon as I lose 10kg.” It’s putting the cart before the horse, which leads to going nowhere, or worst, backward! First, you have to start properly handling the money you have or as Harv Eker puts it, “Until you show you can handle what you’ve got, you won’t get any more!” If your son couldn’t handle his Vespa (the Italian scooter), would you buy him a motorbike? Since Eker wrote this book in a very straightforward way, let me also do the same… to put it bluntly: Don’t be stupid and wait for having much money to manage, you’ll die waiting! Start right now with what you got. Every master once started small. “The habit of managing your money,” reminds Eker, “is more important than the amount.”

A Universal Law goes like this: Until you show you can handle what you’ve got, you won’t get any more. This is also true in how we manage our money, even if we only have little. Again, to make the question more personal, if you can’t even handle little money, why would you get more? What does matter is that you immediately begin to manage what you’ve got and you’ll be in shock at how soon you get more. Okay, so how can you do that? Eker advices the readers to create six (6) accounts (first two are most important):

Financial Freedom Account – 10%

Play Account – 10%

Long-Term Savings for Spending Account – 10%

Education Account – 10%

Necessities Account – 50%

Give Account – 10%

I’m not following exactly what Eker suggested here. The main point is: Manage your money. Or as the author reminds his reader, “Either you control your money, or it will control you.” To control money, manage it. He continues, “Money is a big part of your life, and when you learn how to get your finances under control, all areas of your life will soar.” I regret that I was doing the opposite a few years ago. It’s not too late, you and I can start now! Check your wallet now, if you have RM10 in it, put RM1 into your Financial Freedom Account. Start small, start now.

[*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!

Secret of the Millionaire Mind: Wealth File #13 Rich People Focus on Their Net Worth

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 #13:

Rich People Focus on Their Net Worth.

Poor People* Focus on Their Working Income.

“The true measure of wealth is net worth, not working income,” said Harv Eker, “Always has been, always will be. Net worth is the financial value of everything you own. This may sound a well-off or only for the rich - but it’s valid.” Eker explains that there are four net worth factors: #1 Income; #2 Savings; #3 Investments; and #4 Simplification.

#1 Income. Income comes in two forms: Working Income and Passive Income. You all know what the working income is, you go to work and you earn money for your work (or time, as discussed in previous posts earlier). You’ve probably also heard of passive income. This is money you earn without actively working (We’ll discuss that in more detail in Wealth File #15). Working and passive income together make your income (for most people it’s just working income).

#2 Savings. You can earn massive amounts of money, but when you spend it all, you have zero savings. Many people have a financial blueprint that is wired for spending (I’m guilty). These people spend everything they have no matter how much they earn. That’s what Eker called the Parkinson’s Law: Expenses will always rise in direct proportion of income. “That’s why income alone will never create wealth.” That certainly makes sense. We need to make savings.

#3 Investments. Because of savings, we can make investments, another piece of the net worth puzzle. Rich people take time and energy to learn about investing and investments. Poor people* think investing is only for the rich people, so they never learn about it and stay broke.

#4 Simplification. The fourth net worth factor is simplification. This is about saving money by leading a ‘cheaper’ lifestyle. By decreasing your cost of living, you increase your savings and the amount of funds available for investing.

For more details about each factors of net worth, please refer to the book. In short, Eker explains that “rich people understand that buildings a high net worth is an equation that contains all four elements: Income, savings, investments and simplification.” We can raise our income either through promotions and/or by increasing our value. We all also can save more money. Follow the 50:30:20 Rule, spending 50% on needs, 30% on wants, and allocating 20% to savings (find out other Rules from the internet. Choose what’s suitable for you). We too can learn about investments and spend less money on our lifestyle. As Eker said, “To increase your wealth, you either have to earn more or live on less.”

[*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!

Secret of the Millionaire Mind: Wealth File #12 Rich People Think "Both"; Poor People Think "Either/Or"

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 #12:

Rich People Think “Both.”

Poor People Think “Either/Or.”

As Harv Eker puts it, rich people live in a world of abundance, poor people live in a world of limitations. Many believe money and happiness are mutually exclusive, that either you can be rich or you can be happy. Again, this is nothing more than “poor” mentality programming. Do you want a successful career or a close relationship with your family? Seriously, think about it. What do you choose? The poor* will choose one. But why? Why you need to choose between the two? Why not both? The rich – the wise ones, of course – choose both. Be smart and choose both!

Do you want to focus on business or have fun and play? Both! Do you want money or meaning in your life? Both! Do you want to be rich or happy? Both! I choose both! You see, poor people always choose one. Poor people* feel that there is not enough and you can’t have everything. There is truth in that. Rich people, on the other hand, think there is plenty for everybody and you can have everything you truly want. You can’t have everything but you can have what you want. It’s possible. Poor people believe in scarcity; rich people believe in abundance. The difference couldn’t be bigger! Do you have to choose between wealth and happiness? No, of course not! Money is important and happiness is important. You can have both. Eker puts it in proper perspective: “Money enables you to ‘slide’ through life instead of having to ‘scrape’ by. Money brings freedom.” It can’t give or buy you freedom, but it can bring you freedom and make you smile.

Harv Eker writes, “If I can be an example for anything, it would be that you can be a kind, loving, caring, generous, and spiritual person and be really frickin’ rich… My friends, being kind, generous, and loving has nothing to do with what is or isn’t in your wallet. Those attributes come from what is in your heart.” Did you hear (or to be exact, read) that? It’s all about you! There we are again. I already cover this in the previous posts…. Money can’t make you someone you already are. You are who you are no matter what is or isn’t inside your wallet or bank account. So, you can be happy and you can be rich! You can choose both – I choose both. Yes, we can. Life is abundance. Yeah!

[*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!

Secret of the Millionaire Mind: Wealth File #11 Rich People Choose to Get Paid Based on Results

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 #11:

Rich People Choose to Get Paid Based on Results.

Poor People* Choose to Get Paid Based on Time.

Harv Eker writes, “There’s nothing wrong with getting a steady paycheck unless it interferes with your ability to earn what you’re worth. There’s the rub. It usually does.” Wealth Rule #1: Never have a ceiling on your income. If you choose to get paid for your time, you are pretty much killing your chances for wealth, says the author. A steady paycheck is safe. A steady paycheck is also a ceiling on your income. A steady paycheck is killing your chances for wealth…

If you want to become rich, work for yourself or at least work on commission or percentage. That’s the only way you can get paid based on results write Eker. Maybe it seems less safe but it’s certainly how you can earn more money. And it’s the only way to get rich. It’s how you can earn what you’re worth. And living based on security (like a safe, steady paycheck) is living based on fear. What you’re actually saying is, “I’m afraid I won’t be able to earn enough based on my performance, so I’ll settle for earning just enough to survive or to be comfortable.”

Eker asks his readers: Who should get paid more, a good or a bad lawyer? I guess we’re all clear on that – the more you deliver, the more you should get paid. In a 9 to 5 job though, everybody is paid the same. Everybody is paid based on the time they “work.” He puts work in quotation mark became he thought it’s less about the work and more about the time… Again. Harv Eker is completely clear on that: If you want to get rich, you work for yourself!

[*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!

Secret of the Millionaire Mind: Wealth File #10 Rich People are Excellent Receivers

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 #10:

Rich People are Excellent Receivers.

Poor People* are Poor Receivers.

Harv Eker says, “If I had to nail down the number one reason most people do not reach their full financial potential, it would be this: most people are poor ‘receivers.’” What does he mean? First, what the heck are poor receivers? A poor receiver, according to Harv, is a person that cannot receive well. So far so good. What do we receive? We receive praise, affection, money, gifts, etc. Many of us have trouble receiving such things. The author told a story from himself: “It’s funny, when I was broke and I saw a penny on the ground, I would never stoop so low as to pick up a lowly penny. Now that I’m rich, however, I pick up anything that even looks like money. Then I give it a kiss for good luck and declare out loud, ‘I am a money magnet. Thank you, thank you, thank you.’”

So obvious, T. Harv Eker has developed into a money magnet, a great receiver. Most of us though, have trouble receiving. Where does that come from? Why are we poor receivers? The author simply states that we are conditioned that way. Many (yes, including me) grew up and heard things like “That’s wrong”; “You’re not making it right”; “What did you do?” These sentences all strengthen the feeling of not being good enough. And not feeling good enough is one reason why we are poor receivers. “If you say you’re worthy, you are. If you say you’re not worthy, you are not,” reasoned Eker, “Either way you will live into your story.” No wonder we are poor receivers if we don’t feel worthy… Here some sage advice: Stop buying into that ‘worthiness’ or ‘unworthiness’ crap and start taking the actions you need to take to get rich!

The second major reason most people have a problem with receiving is that they have bought into the adage: “It’s better to give than to receive.” I don’t believe in that statement. The whole idea is pious but pitiful. I believe that giving and receiving are two sides of the same coin. Eker said, “For every giver, there must be a receiver, and for every receiver, there must be a giver.” Giving and receiving are equally important – if you are not willing to receive, then you are ‘ripping off’ those who want to give to you. That’s the main difference between rich and poor people*: Rich people are willing to receive while most poor people are not. It’s not that there would not be enough for everybody, there is. Money is definitely in abundance… it only goes to whoever will take it. So, you and I must be willing to open and be receivers.

Many poor people actually believe they are better people because they are poor. Somehow they think they’re more pious or spiritual or good. Not so! Eker puts it this way, “Money will only make you more of what you already are. If you’re mean, money will afford you the opportunity to be meaner. If you’re kind, money will afford you the opportunity to be kinder… If you’re generous, more money will simply allow you to be more generous.” From now on, take everything (good) someone offers to you (use your mind wisely, of course). If someone tells you you’re looking good then say, “Thank you” instead of “What? No… I look horrible today.” It’s simple as that: Just say “Thank you” and receive your blessings. Let’s say you take time to comment me below and appreciate what I’m doing here, I will definitely say, “Thank you.”

[*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!

Secret of the Millionaire Mind: Wealth File #9 Rich People are Bigger than Their Problems

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 #9:

Rich People are Bigger than Their Problems.

Poor People* are Smaller than Their Problems.

The size of the problem is never the issue, what matters is the size of you! Harv Eker said, “If you have a big problem in your life, all that means is that you are being a small person!” Either you are whining about the problem or you are working on the solution. This is straight to the point: It’s all about you! Whatever happens in your life, be it good or bad, interesting or boring, tough or easy, what matters is how you get affected by it. What matters is you! There are no problems, there are only situations. We then make them a problem. Respectively, some people make it a problem, others don’t even get affected or realize it. How can that be?

Good question, right? How can it be that the exact same situation is a problem for one but not for another? It depends on the person, you may say – and you’re right. It depends on you. I remember when I went to work from KL Central to Times Square. Monorail KL would take people every five minutes or so. At times, these trains were crazily crowded (especially on weekends). You see in the faces of people how they felt about the situation. And interestingly, some people got negatively affected by the crowded train EVERY SINGLE DAY. Why? Are you that small of a person that a crowded train is a problem for you? And even if it is (e.g. due to claustrophobia, fear of being in closed/crowded places), you do have other options such as go earlier, go by bus or bike, use a taxi or Grab, or walk…

Do you see my point? You can either whine about the situation (make it a problem) or work on the solution. Eker says it over and over again, “What matters is the size of you.” The more you work on yourself, the fewer the problems there will be – you’ll be bigger than any problem. So, don’t be the person whining about the crowded train… that’s NOT a problem! “It’s not what happens to you,” said the wise Epictetus, “but how you react to it that matters.” Say this to yourself…

[*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!

Secret of the Millionaire Mind: Wealth File #8 Rich People Are Willing to Promote Themselves and Their Values

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 #8:

Rich People Are Willing to Promote Themselves and Their Values.

Poor People Think Negatively about Selling and Promotion.

“Resending promotion is one of the greatest obstacles to success,” said Harv Eker. “Rich people are almost always excellent promoters.” If you believe that what you have to offer can truly assist people, it’s your duty to let as many people as possible know about it. In this way, you not only help people, but you also get rich! How can you become rich if you don’t let people know about what you have to offer? How are they going to find out about you? How are you going to sell your product if nobody knows about it? Nobody buys a product he doesn’t even know about! Eker puts it this way: “If you don’t sell, you don’t earn a darn thing!”

If you believe that what you have to offer can truly assist people, it’s your DUTY to let as many people as possible know about it. That’s clear as water. You can help people – that’s great! Everybody wants to help other people, so, let them know about your value. That’s the coolest thing on earth: You help people AND you get rich! Eker shares about some reasons why poor people* have a problem with promotion and/or selling:

#1 They had a bad experience in the past with people promoting and lied to them. This will hold them back.

#2 They had a disempowering experience when they tried to sell something and maybe they experienced total rejection. They still fear failure… they need to let the past be the past.

#3 They probably have been conditioned that maybe they heard it’s impolite to ‘toot your own horn.’ In the real world though, if you don’t ‘toot’ you own ‘horn,’ nobody will…

#4 They maybe feel that promotion is not so important. The problem is that nobody is going to find them as nobody knows about them.

If you don’t like selling and promotion for whatever reason, just swallow it. If you want to become rich, you need to promote your value with passion and enthusiasm. Simple as that. Sell yourself! Be authentic. Be passionate about what you have to offer. If you absolutely can’t be passionate, then probably what you have to offer does not have much value… It is indispensable that what you offer needs to have value. Yet, the biggest value is useless if you don’t promote it! Who should be enthusiastic about your product if you not? Step out and promote what you have to offer – your skills, services, products – with passion and enthusiasm. If you believe in your value, how could it be appropriate to hide it from people who need it?

[*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!

Secret of the Millionaire Mind: Wealth File #7 Rich People Associate with Positive, Successful People

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 #7:

Rich People Associate with Positive, Successful People.

Poor People Associate with Negative or Unsuccessful People.

Why reinvent the wheel? “The fastest and easiest way to create wealth,” said Eker, “is to learn exactly how rich people, who are the masters of money, play the game.” If you want to fly with eagles, don’t swim with the ducks! Why reinvent the wheel? The logic is simple: If your goal is to be rich, then study the rich people. Do what they do. There is a reason why they are rich. The easiest way of studying them is being near to them. It’s simple. It’s similar to entering the corridor (refer to the previous post) to get to know the business. From the inside, you learn much, much more in much, much less time. Again, if you want to be rich, model rich people. If you want to be a great leader, for another example, then model great leaders! This is logic: If you take the exact same actions and have the exact same mindset, chances are good you will get the exact same results.

Another way to say this wealth file is associated with people who have achieved what you want to achieve. They know a lot. They know how to act and what to do. They have the skills needed to succeed. Associate with them, study them. Let’s take an example from the animal kingdom if a chicken just swims with the ducks, how is it going to learn how to fly like an eagle? Guess what, it’s not… and the same holds true for you. If you hang out with poor people* only, you’re never going to be rich (By hangout with the rich, this can also mean ‘hangout’ with their books, videos, and podcasts). Talking of birds, you’ve probably heard the saying, “Birds of a feather flock together.” This saying basically says that people of the same kind often hang out together. People spend time with people who are similar or they become the people they hang out always. What’s first come to your mind: Do you flock together because you are similar or do you become similar because you flock together?

Jim Rohn once said, “You are the average of the five people you spend the most time.” Have you read this quote? Yes? Good. No? Read it. Jim Rohn just gave the answer to my question. What matters is who you spend MOST time with (of course you may hang out with anyone you like, no discrimination). If the people you hang out with are positive, chances are high you’re positive too. If they’re complaining, chances are high that you complain too. “Rich people hang around with winners. Poor people* hang around with losers. Why? It’s a matter of comfort,” said Eker, somewhat hard-truth, “Rich people are comfortable with other successful people. They feel worthy of being with them. Poor people are unfordable with highly successful people. They’re either afraid they’ll be rejected or feel as if they don’t belong. To protect itself, the ego then goes into judgment and criticism.” Either you agree or disagree with Eker’s statement, this principle remains solid: If you want to get rich, model and associated with rich people. If you don’t have rich friends (like me, not yet so far), read their books – the books that they wrote or the books that they read or both. Or watch their videos on YouTube or listen to their talks and interviews on podcasts. Do it!

[*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!

Secrets of the Millionaire Mind: Wealth File #6 Rich People Admire Other Rich and Successful People (Summary)

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 #6:

Rich People Admire other Rich and Successful People.

Poor People Resent Rich and Successful People.

Poor people* often look at other people’s success with resentment, jealousy, and envy. “You have to realize that if you view rich people as bad in any way, shape, or form, and you want to be a good person, then you can never be rich,” writes Eker, “It’s impossible. How can you be something you despise?” That’s an easy psychological truth: You become rather like someone you admire than like someone you resent. Keep that in mind. From now on, when you see something you (secretly) want, may it be a nice house or a dream car or someone who is wise, admire what you see. Admire the house and also admire the owner. Admire the car and also the brain. Don’t be jealous, don’t be envy, admire them. Bless them. Love them. Practice the Huna philosophy: “Bless that which you want.”

Why do people resent rich people? Why do people think that poor people are in some way better spiritually than the rich? To put it bluntly – that’s just stupid! There is absolutely no reason to think worse about the rich than about the poor. Of course, there are some rich people who don’t act morally and ethically right, but that same holds true for some poor people. No doubt there are always exceptions to any rule, but for the most part, who do you have to be to succeed at anything? Try some of these characteristics: positive, reliable, focused, determined, persistent, hardworking, energetic, good with people, a competent communicator, intelligent, an expert in at least one area, etc. What does it take to get rich and successful? How can someone become successful? Some or all of the above? Does negativity, laziness and being average at everything make you a success?

The answer to the last question is crystal clear – NO! If you want to become successful, you need powerful traits that make you who you are. Rich people are rich because they have the character it needs to get rich. Being rich is nothing to do with being lucky, acting mean or morally wrong, being a bully, using people or whatsoever. So why would you resent someone who actually worked a lot for his or her success? Who was persistent? Who always tried to be his best? Who is reliable and focused? Why would you resent someone when you’d secretly want to be like that person?

To put it clearly, when you resent the success of others, you’re not going to get any… When you resent your friend for having a girlfriend, you’re not going to get one. When you resent someone for having a Mercedes, you’re not going to have one. When you resent a rich person for his or her money, you’re NOT going to get ANY MONEY. “Act like rich people and admire what you want. Bless what you want. Love what you want,” Eker emphasized. Yes, love what you want, love what you want, LOVE WHAT YOU WANT!

[*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!

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!

Secrets of the Millionaire Mind: Wealth File #4 Rich People Think Big, Poor People Think Small (Summary)

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 #4:

Rich People Think Big.

Poor* People Think Small.

“The Law of Income: You will be paid in direct proportion to the value you deliver according to the marketplace,” said Harv Eker, “The key word is value. It’s important to know that four factors determine your value in the marketplace: supply, demand, quality, and quantity.” This makes sense. The more you offer, the more you get paid. This is a fair law. You offer a higher value and get paid more than someone who offers a lower value. Who do you think should be paid more, a good lawyer or a bad lawyer? A good footballer or a bad footballer? A good actor or a poor actor? The answers are obvious…

I’m not going to explain the concept of supply and demand here, as it’s not what the book is about. The major struggle people have with offering more value is the quantity. The quantity factor simply means how much of your value do you actually deliver to the marketplace? Most people play small because #1 They are scared of failure, and #2 They feel small and unworthy. “But hear this,” Eker emphasized, “Your life is not just about you. It’s also about contributing to others. It’s about living true to your mission and reason for being here on this earth at this time. It’s about adding your piece of the puzzle to the world. Most people have stuck in their egos that everything revolves around me, me, and more me. But if you want to be rich in the truest sense of the word, it can’t be about you. It has to include adding value to other people’s lives.”

Let’s assume that what you have to offer actually has a high value to other people and helps them. Now, should you offer that value to one person or to ten? Or to a hundred? A thousand? Thousands? Yes! Yes, Yes, Yes! You definitely should offer that value to as many people as possible. Don’t hold it back. It is your DUTY to offer it to as many people as possible. This is what THINK BIG is all about. Many, many people need what you have to offer – offer it to them and get paid proportionally. “The by-product is that the more people you help, the ‘richer’ you become, mentally, emotionally, spiritually and definitely financially.”

It’s time to stop hiding out and start stepping out. Most people think small. And guess what, they will achieve relatively little. On the other hand, if you THINK BIG, you can achieve much more! You can help thousands and thousands of people. That shall be the goal. Eker concluded: “In the end, small thinking and small actions lead to being both broke and unfulfilled. Big thinking and big actions lead to having both money and meaning. The choice is yours!”

[*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!

Secrets of the Millionaire Mind: Wealth File #3 Rich People Are Committed to Being Rich, Poor People Want to Be Rich (Summary)

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 #3:

Rich People are Committed to Being Rich.

Poor People* Want to Be Rich.

“The number one reason most people don’t get what they want is that they don’t know what they want,” said Harv Eker. Do you know what you want? What do you want? Who do you want to be? How do you want your life to look like? Why do you read this summary? I guess you at least know the answer to the last question. Our world, or better, our society provides uncountable choices. It is then a common problem that we don’t really know what we want.

How are we going to get what we don’t know we want? Does that make no sense? You get the point (I hope). If we don’t know what we want in life, how are we going to get it? We won’t… If I asked you if you wanted to be rich, you’d probably think “What a stupid question…” and say, “Of course I want to be rich.” The truth, however, as Eker points out in this book, is that most people don’t really want to be rich. Why? “Because they have a lot of negative wealth files in their subconscious mind that tell them there is something wrong with being rich. That’s how we’ve been conditioned… and most of us have mixed internal messages about wealth.” One part within us says, “I’ll be able to travel the world.” Then the other part chirps in, “Yeah, people will think that you’re show off.” These mixed messages (mine) may seem innocent enough, but in reality, they are one of the major reasons most people never become rich.

Again, mixed internal messages (at least subconsciously) about wealth is the major reason we’ll never get rich. Eker highlights: “If you are not fully, totally, and truly committed to creating wealth, chances are you won’t.” Sound crazy, yet that’s the power of our mind. How can we develop clear internal messages about wealth? The author states that there are Three (3) Levels of Wanting:

#1 I Want to Be Rich. “This won’t bring you anywhere as billions of people want (or at least claim that they want) to be rich, but relatively few are.”

#2 I Choose to Be Rich. “Choosing is much stronger than wanting because you take responsibility for creating your own reality.”

#3 I Commit to Being Rich. “That’s the highest form of wanting. You devote yourself unreservedly. You give 100% to achieve wealth. There are no excuses. Failure is not an option. I will be rich or I will die trying. That’s commitment and that’s necessary for true success!”

Rich people are committed enough to do whatever it takes. Period. What about you? Are you willing to work longer hours a day? Rich people are. Are you willing to sacrifice seeing your family, your friends, and give up your recreations and hobbies? Rich people are. Are you willing to do whatever it takes? Rich people are (in the long-term, however, I disagreed with all of these ‘sacrifices.’ If you read Rich Dad Poor Dad, Robert Kiyosaki will surely disagree too. But for the initial periods, you must willing to sacrifice all of these – mindfully, morally and responsibly – for the greater good in the future). You need to fully, truly and totally committed to creating wealth. You choose wealth over mindless-hangouts with friends; you choose wealth over getting too many loans; you choose wealth over expensive car (for now). Sure, you need to find balance in everything. Most importantly though, Eker reminds us, “You need to want to be wealthy bad enough so that you commit to being wealthy. Otherwise you just won’t get rich. Simple as that.”

[*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!