Very few people get a true glimpse into a billionaire’s mind. It is a rare moment, and when it happens, there is much to be extracted.
Billionaires have an unparalleled positive attitude, they see failure as a teaching moment and catalyst.
These are not the only hallmarks of a billionaire. There’s quite a few more, setting them apart from the rest. A good, very recent billionaire mindset example is Kylie Jenner, a 20-year-old almost billionaire worth an estimated $900 million. Jenner could become the youngest billionaire ever.
What sets Jenner’s mind apart from the other 20 somethings? The billionaire’s mindset is the differentiator.
A few key billionaire mindset characteristics:
The following four traits serve as your roadmap to creating your own billionaire mindset.
1. Billionaires Think Deeply
One of the most impactful billionaire mindset traits is that they think on a colossal level.
Billionaires are not thinking about, “I want to make another billion dollars.” They are thinking deeply about everything that very well could net them their next big investment deal.
For example, a billionaire may ask, “How can people get more free time?” That’s a lofty question. Next, more questions follow like:
What do people do most of the day?
How much time do they spend not at the office?
What are they doing instead of working?
How much time is spent preparing food and cleaning after food?
What do people dislike about cooking?
It is not so much thinking big, but rather thinking deeply.
2. Billionaires Keep Good Company
One hallmark that is important to having and maintaining a billionaire mindset is to keep good company. If you hold council with negative people that don’t have a vision for the future, guess what? You will begin to mirror those traits.
If you have a supportive circle that pushes you to fulfill your goals, you will most likely succeed. “In many ways, it is better to focus on spending time with others who engage in positive activities,” Art Markman, Ph.D. said in Psychology Today.
Even if you fail, you will seek your circle of more successful people to learn from that failure to succeed down the road.
3. Billionaires Create Their Own Destiny
Do you believe in destiny? If you don’t, that’s cool. However, you do probably believe in the future, and you spend your day thinking about how to make your future brighter. This is a hallmark of a billionaire.
Billionaires truly believe they make their own destiny, or future, based on the decisions they make. This projection of energy into the future leads them toward action, consciously and subconsciously to accomplish future goals.
For instance, world heavyweight boxing champion Muhammad Ali, one of the greatest fighters of all time, pictured himself winning long before he would even step into the ring.
4. Billionaires Churn Failure into Success
Do you want to be successful in your professional and personal life? There is one simple tweak in your mindset that can usher success along a bit faster. Make failure a positive!
Not all billionaires have success right out of the gate. It is a grind of failure that teaches them. The failure also serves as a teaching moment for mentors to step in and help point out positives of the failure.
For instance, billionaire Richard Branson has had a number of failures on his path to 10-digits. You may not remember this, but Branson actually launched a soda company called Virgin Soda, a Coke and Pepsi “competitor” that failed miserably.
Branson learned from it, saying, “I learned only to go into businesses where we were palpably better than all the competition.” He then went on to do some pretty amazing things, like Virgin Mobile.
5. The Billionaire Mindset is the Broke Mindset
When it comes to investing, billionaires actually have a broke mindset. They can easily invest in a new startup they feel has potential, but many won’t. Instead, billionaires prefer to harness their inner frugality in order to become creative.
For instance, instead of investing a million dollars into a new business venture, they may ask the question, “How can I invest in this company without actually investing.” This is the broke mindset successful entrepreneur and investor Daymond John highlights in his book, The Power of Broke.
The billionaire mindset is a rare thing that many only get a quick glimpse of. The good news is that those who have spent time with some of the most influential billionaires, and billionaires themselves, have shared the idiosyncrasies that drive their success.
All can employ the key traits within a billionaire’s mindset. It’s simply the level of commitment that sets the billionaires apart from the rest. Are you cultivating that mindset?