Do millionaires and the very wealthy really think differently to most people? And is there anything that we can all learn from their ‘millionaire mindset’ that might help the rest of us to achieve our own goals of financial independence? We think there is – so here’s Holborn Asset’s quick guide to developing the ‘millionaire mindset’.

Be bold

Don’t over-think things or over-plan – have faith in your abilities and in your instincts. That doesn’t mean skimping on your research – particularly when it comes to investments (see below) – but it does mean being proactive and having confidence in your decisions. People with a millionaire mindset will look at a situation and quickly assess any opportunities for them to benefit from it. They’re certainly not the kind of people who will think “That’s not the sort of thing I could ever do.” This is all about personal development, and avoiding self-limiting beliefs.

Be ambitious

This is about the grand vision. Whether it’s growing your business or building your investment portfolio, aim high. While you’ll break down the journey towards achieving that goal into small steps, it’s vital that you have a bigger goal in mind.

Focus on your goals

Be positive, and focus on what you want to achieve (rather than what you don’t want, or what you want to avoid). Again, this is about the journey you’re on towards achieving your big vision – someone with a millionaire mindset will identify that goal and then the smaller milestones that will get them there. The important thing here is to get into the habit of actually achieving these goals – it’s better to achieve one goal a year than give up on one every month.

Invest wisely

How much time do you really spend thinking about your finances? Increasing this time – and the amount of focus and planning you put into your finances – will ultimately mean that you end up making better decisions about what you do with your money. So, don’t just think about your finances when it comes to paying your bills – invest more time into it and you’ll quickly see the benefits. This mindset also applies to investments. We recommend deeply investigating any investment before you make it – so that the informed decision around where to grow your money is yours.

Listen and learn

Find a mentor – someone who you respect and trust – and learn from them. It’s one of the quickest and easiest ways to get the millionaire mindset – simply because you’re picking it up direct from someone who has already been there and done it. And, as in any other area of business, it’s also vital to learn how to listen. Most wealthy people are excellent communicators, simply because they understand that it really is the best way to learn how to be successful.

Celebrate every success – and never give up

Every step you take towards your goal – however small – is worthy of celebration. People with a millionaire mindset are never afraid to congratulate themselves on small success. It’s all a part of taking a positive and proactive attitude to growing your wealth. It’s also a great way to motivate yourself on what can be a long and difficult journey to financial independence – and of ensuring that you never give up on your grand vision.