The 14 Keys to Wealth Building Mentality – by George Ansong
George Ansong is an agent at Maximum One as well as being an entrepreneur and author! The following article is courtesy of George and this article and more may be found on George’s website: www.GeorgeAnsong.com Thank you George for sharing your wealth of knowledge and insights with us all!
1. The ability to develop the capacity to see – in your mind’s eye – a vision – if you will – ability to spot opportunities that might not be obvious to people – it is a gift that is nurtured and acquired over a period of time.
2. The ability to develop an intuitive ability (ability to acquire knowledge without inference or the use of reason- a six sense if you will that many people don’t have – ability to “smell” deals miles away.
3. Being educated is just a part of it, but most often than not you have to acquire the mindset through trial and error and the school of hard knocks – you learn through apprenticeship.
4. A level of street smarts that you acquire by being involved in everyday rudimentary tasks of entrepreneurship and business practices – business as an art or science is boring and you have to be able to maintain the repetitive tasks and discipline required to get you going – for example, you want to raise capital – you should be disciplined to call or talk to a number of people per day.
5. The ability to know the difference between income and wealth -It is possible to have a higher income and not be wealthy – Always remember that building wealth does not require a large income, however, it requires a mindset that is disciplined and a long term perspective.
6. The ability to achieve the wealth building mentality and have a balance in all areas of your life – spiritually, physically, financially, emotionally and your relationship.
7. The ability to know that you have a conscious and social responsibility to be av good citizen in your entrepreneurship, investment and business dealings.
8. An attitude that says that no matter what happens I will continue my journey – If I lose my millions I would be able to go back to the drawing board and start all over again without any shame -or the ability to have the emotional or psychological attitude to have things done no matter what!
9. Knows that you learn through having mentors and updating your knowledge through short focused courses and building a library of books where you are always learning and updating your knowledge base – I don’t think there will ever be a time when the entrepreneurs say “I have arrived!”
10. Don’t wait to get fired before you start thinking about developing a wealth building mind set and starting your own side line business – the forecast for the economic trend would dictate that people would be laid off – just discover your passion and set up your own sideline business – always have a business on the side – don’t wait to get laid off before you start thinking about starting a business.
11. Get into the habit of attending seminars on specific topics that interests you that would help you accelerate your knowledge base – for example if you are interested in real estate investments, look for inexpensive courses at continuing education department at the universities.
12. Always explore new ideas and challenge existing norms – exploring new frontiers will always get you motivated to do the unusual – and if you are starting a business do think big and go for it!!
13. To know that your ideas on wealth creation is what makes you wealthy and not working for somebody else – working for somebody will make you live comfortably, but will not make you wealthy.
14. The ability to know the mechanics of business management – the functional areas like accounting, marketing, financial controls etc., that makes business run.