Part 2 of 3 of a series showing how the successful think differently than the average

Success Starts Here Freeway Style Desert Landscape

We have all heard of someone that is a rags to riches story. In fact, many personally know someone that grew up relatively poor and later created a comfortable life and income. Conversely, we also commonly hear “it takes money to make money”. This saying implies that unless you are born into or given money there is no honest way to succeed in the world today. Which one of these ways of thinking is right? Should we think like the optimists or should we think like the pessimists that are discouraged? Which one is going to end up content and which one is building for a letdown? As described in the first article, it isn’t as simple as declaring one to be right and the other wrong. We must consider the opinions from both groups.

The group that believes that “it takes money to make money” makes some valid points. To invest in large ventures that have high risk but high payout requires a reserve of money. One example is the person who becomes a millionaire with real estate. You must have enough money to buy houses. For many of us, we don’t have a down payment in the bank and cannot start a real estate company. In this way the pessimist group is right. However, that is only part of the story.

When Dr Stanley and Dr Danko wrote The Millionaire Next Door (Longstreet Press, 1996) they discovered that the statistics don’t support the view of the pessimist group. They found that the majority of the wealthy make their own fortunes. The statistics contradict the view that only the wealthy with money can continue to be wealthy. They point out that only 19 percent of the wealthy inherited any money. The statistics show that anyone can become wealthy but will likely struggle initially building the wealth.

Again, we learn that both groups are right depending on the point of view. If my thinking style is optimistic, I am going to be more willing to sacrifice today’s comforts to build a 

comfortable future. This thought process enables me to start with little or no initial money. But if my thinking is in line with the pessimist group I will likely demand comfort now for my hard work. In that case, the pessimist group is right. We see that optimistic thinking is necessary but is only the starting point. Optimistic thinking alone will never be enough. Even if you agree that it can be done, the pessimists will use examples of those that tried and failed. This can be very discouraging. But if you learn from successful examples, you will come to people like Donald Trump. His goal was to be a successful entrepreneur. While optimistically working toward his goal, he had 4 bankruptcies that taught him something each time. Because he was willing to think like the optimist group, use the bankruptcies as education and persist, he created the wealth and knowledge we see today. However you don’t always have to make mistakes to gain this education. There are many examples of people that become educated first, then succeed without the hardship of 4 bankruptcies. Once hard work and positive thinking are established, education is the key that separates failures from successes.

It comes down to realizing that anyone who is willing to think like the successful, get educated and do the necessary work can succeed.

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