I read Quora questions/answers regularly.
So in the spirit of redistributing and having an easier access to my favorite stories over there, I decided to publish them on a daily basis here.
The following question and answer were the best I glanced over for the day.
What would it take for you to develop a millionaire mindset?
Here’s how to develop a millionaire mindset in 90 seconds or less:
Imagine you have the opportunity of a lifetime to win one million dollars in a golf tournament.
These are the rules:
- You have one chance to get one golf ball inside a par-4 hole.
- You have four shots to get the ball inside the hole of an average par-4 hole on an average golf course. Not a super difficult task to achieve.
- You have only 48 hours to prepare for the event.
- No special prequalifications as a golf player are required.
- If you complete the hole in four shots or less, you will win $1 million dollars.
- If you shoot five or more, you finish above par and you lose the chance to win.
What would you do?
Stop and think for a moment…
How would you spend those 48 hours previous to the event?
Pause and think… be honest.
Would you spend your time practicing all day long?
This is what a millionaire would do:
He would get on the phone and call the best golf players in the world and negotiate a deal.
“Hey master-golfer, would you like to earn$100,000 in 20 minuteson the golf course?”
“Sounds interesting. Tell me about it,” says the pro-golfer.
“Simple. If you get the ball in the hole at par or under par, I will pay you $100,000. If you don’t, you get nothing. An easy job for a pro like you!”
“Really? Is this a joke? That’s it?”
“No joke. That’s it!” says the millionaire.
“When do I meet you on the golf course?” says the pro.
“Let me call you back in a few hours to confirm the details with you.”
The millionaire would hang up and call as many experts as possible. He would get the BEST player to execute the job for him.
What are his odds of success? Exactly…
So, to answer your question, what would it take for you to develop a millionaire mindset?
When we people face a challenge, our first reaction is to ask: “how do I solve this problem.” That’s what our education system teaches us, HOW to solve problems.
Millionaires, on the other hand, DON’T ask “how.” They instead ask “WHO.”
Millionaires don’t do the work. They find experts to do the work for them.
Changing this small thing in your mindset will help you take a huge leap towards thinking like a millionaire. Remember, finding your WHOs will make your HOWs happen faster and cheaper than you could ever by yourself.
This is probably the best answer I’ve bookmarked on Quora and it’s too bad I can’t figure out when I did it.
Come on Quora, more data please.
I’m gonna update my site to have a “Pinned Articles” section and have this one as the first of its kind. :)
Hector Quintanilla is one of my favorite writers on there.
This is the kind of mentality that I’ve been developing for the past couple of months. I’ve also had a couple of awesome mentors that lead me (and still are) through it.
I believe that the whole idea behind this answer is
- To learn to be at least better than average at one particular marketable skill
- Build a system around your skillset
- Contact the right people (the ones who ultimately need your skillet) at the right time
- Show them how you can save them time and money once they become your clients
- Think thoroughly, plan ahead (project roadmap), and outsource what you know you’re not fit for doing
- Manage people and follow through with checkpoint meetings
- Never assume things, ask important questions and be in active communication with your clients
- Fail if you may, but never give up on figuring out turnarounds. People are counting on you.
I think steps 5 to 8 are the hardest ones for most people.
For me, it’s definitely number 5.
At least, it was. Until a couple of days ago when I actually learned how to outsource properly… the hard way.
I figured steps 1 and 2 are the ones that took me the longest. And I think they’re generally underrated.
I also learned step 7 the hard way recently.
I hope more people will read this amazing answer by Hector.
Leverage is the key here. Make life easier for others (by working smart) and they’ll be happy to pay.
I hope you enjoyed this answer as much as I did.
I really recommend you check out other answers to this question on Quora. I may have read it a long time ago and some new and even better answers may have popped up since.
If you don’t use Quora, feel free to leave a comment down below about this answer.