How To Think Like A Millionaire

Your life is the result of your actions.

Your actions are the result of your decisions.

Your decisions are the result of your thoughts.

So naturally, if you want to improve your life, you need to improve your ability to think.

This is what every single successful person has in common, they have the ability to think clearly and objectively so that they can make the best decisions, take the best actions and get the best results.

For example, an entrepreneur with a 7-figure business has taken the necessary actions and made the necessary decisions to become an entrepreneur with a 7-figure business.

Those actions and decisions are the result of their thoughts, they’ve learned how to think in a certain way and you too can learn how to think like a millionaire, a billionaire or anybody else you want to be and then you can let time catch up and you’ll become that person.

If you think like a millionaire, you’ll take the actions a millionaire takes, you’ll make the decisions a millionaire makes and after enough time, you’ll become a millionaire.

Thinking is everything, it dictates your entire life - but there are two types of thinking or ways to view reality.

There is subjective and there is objective.

Subjective is based on opinions, beliefs and biases. It’s not an entirely accurate depiction of how the world works. It’s altered.

Objective is based on facts. It’s exactly how the world works.

The goal is to be an objective thinker.

The closer you get to being objective, the more accurate you will see the world and therefore the more accurate your decisions will be and the more powerful actions you can take.

However, we’re humans.

We have biases, beliefs and perceptions that mean we can never be 100% objective, 100% of the time but the closer we can get, the better.

Because the more objective you are, the more you see the world in line with reality, for what it really is, and not for what you think it is, hence, your judgement will be as clear as possible.

If you view the world subjectively, everything you do is clouded by opinions.

Let me give you an example:

Let’s say you’re trying to build a business and there’s an established framework used by millionaire entrepreneurs to build out offers that has been objectively proven to be effective and build the best offers.

If you view the world subjectively, you might think you know better or that you don’t need to use that framework and hence, you’ll not use it, making a bad decision and not getting the result you want.

But if you view the world objectively, you’ll be able to see your level of knowledge and skill for what it is, you’ll not be clouded by opinions or biases and you’ll use that framework and have the best chance of getting the results you want.

Now you might be thinking, “Surely nobody is so stupid to ignore a proven framework used by millionaires to build out offers” - my friend, you would be surprised, almost everyone lets their subjectivity take over the objectivity of the world and lead them astray.

However, if you can learn to think objectively, that won’t happen to you. You’ll be able to see things for how they really are and take the best action.

In essence, all the most successful people are the most objective thinkers - they see the world most in line with reality, for what it really is with as little clouded judgment as possible.

And so, that’s what you need to do.

You need to learn how to view reality as objectively as possible - with that, here are 3 things I’ve used to become a more objective thinker.

 

Awareness

 

So first, you need to understand that you can never be 100% objective.

You are a human being and you will always be subject to biases and beliefs that influence your perception of reality.

But you can mitigate these subjective anchors by becoming aware of them and even changing them to be positive, objective anchors.

Essentially you need awareness.

Because the first step to removing subjectivity is understanding what you believe and what your identity is and potentially, likely, shifting that identity into a more advantageous light.

Rebuilding your identity is a topic I’ve covered in the past so if you want to learn how to rebuild your identity which is something I highly, recommend you do, click here

Identity is also a major part of achieving Self-Mastery, hence why it’s such a major part of the first module of MasteryOS (which, by the way, I’m in the process right now of overhauling and updating over the next ~6-8 weeks, and with that, the price will be increasing, so now is a good time to get in).

With that, you need to become aware of how you see yourself, your identity, because you cannot act outside of your identity, so it will massively influence your ability to be an objective thinker - but you also need general awareness of the world around you.

You can’t just be going through life mindlessly.

You need to put as much conscious thought into as many of the things that you do as possible.

If you watch a certain video, why did you watch it? It wasn’t for no reason.

If you buy something, why did you buy it? Why did you buy that exact model and that exact brand? Again, it wasn’t for no reason.

If you feel like crap today, why? How have you spent your time today and yesterday, what foods have you eaten? You don’t feel crap for no reason.

You need to become aware of things and start questioning why you’re doing them.

What you’ll start to notice are patterns.

You buy certain things because of this particular reason, you watch certain videos because of this reason and every time you eat this certain food you feel like crap.

When you combine these, you become aware of your identity, shift it into an advantageous light and you become aware of patterns in your life.

This not only allows you to optimise your life to be as good as it could be, but humans are incredibly similar - if you notice patterns in your life, that pattern will be a cause and effect - because that’s what a pattern is, this thing happens (cause) and then this thing happens (effect) - that happens in other peoples lives.

Which of course, you can use that understanding of patterns in life in your business, in content, or in whatever you’re doing.

How else do you think millionaires find million-dollar problems to solve?

Because that’s all they’re doing.

Business is simply problem-solving. You solve a problem for someone and they pay you for the solution.

If you can find a big enough problem that enough people have, you can sell enough of the solution to make a million dollars - but you have to find that problem, and that requires awareness.

You have to be willing and able to look for patterns that are problems, either in your own life or in other people’s lives, figure out a solution that is repeatable and then sell that solution.

So awareness is step 1 to becoming an objective thinker.

If you can’t be aware of yourself, as well as the patterns in your life and the world, you can’t account for them, hence you can’t see the world accurately and you can’t think objectively - you will be thinking subjectively.

 

Critical Thinking 

 

By becoming aware of your identity and the patterns in life, you’re essentially limiting the likelihood that you think subjectively.

But remember, we are humans.

We are filled with biases and subjectivity, so being aware and understanding isn’t enough.

You need to learn how to think critically, and how to vet things for their legitimacy.

Because you can’t just take things for granted.

Advice, opinions, methods, techniques, your own thoughts - these could all be subjective portraits of the world and so you need to be critical of them to make them as objective as possible.

Now this can create a bit of a paradox, because if you’re getting advice from an expert on the topic who has proven results from the advice they’re giving you, should you be critical of that advice?

Yes and no.

Because if the advice works, if it is good advice - which hopefully, if an expert is giving it to you, it will be - then when you work through it critically, you should find no flaws, that bit of advice should make logical sense.

That’s how you discern good advice from bad advice.

You analyse it critically, working through the logic of the advice - if it holds up, it’s good advice.

But this itself is slightly flawed because maybe you don’t know enough above the topic surrounding the advice to work through it logically? You don’t know all of the ins and outs, all the possible causes and effects and chains of reaction, hence you can’t necessarily think through it critically or logically without doing research into it.

So look, if you’re a complete beginner in something and an expert or anybody who knows more than you, is giving you advice, and that advice has proven results - you should probably just take it and implement it and through experience, you’ll eventually learn enough about the topic to be able to think critically about the advice you get.

As a beginner, your critical thinking around a certain topic might, in itself, be flawed.

However, that is only really if you have absolutely 0 knowledge of the topic and are a complete beginner.

As soon as you have any basic understanding of a topic, you can think critically about it and if it’s good advice, there will be no logical flaws, if it’s bad advice, there will be logical flaws.

But anyway, by thinking critically you are thinking objectively, because critical thinking is the act of ripping apart a piece of information, whether it’s a thought, a piece of advice or whatever, and finding out the truth behind it, finding out whether it lines up with reality in an objective sense.

Therefore, you can think more objectively and more clearly, make better decisions, take better actions and get better results.

Now thinking critically is a skill.

It’s something that you get better at over time, as you build and develop your own frameworks for thinking critically and analysing the logic behind information, but here’s a framework I use and it holds up very well.

Let’s say you get a piece of advice,

The first thing you want to figure out is the goal that you want from that advice.

If you get a bit of advice about how to grow your business, the goal you have for that advice is that it will help you grow your business.

With that goal in mind, you want to then ask yourself these questions:

• Is that true, how would that work?

• What will immediately happen next?

• Why would that happen?

And repeat.

Essentially, what you’re doing here is trying to figure out if that information that you got will actually hold up and help you achieve the goal you have for that piece of information.

So you ask yourself, how would that advice achieve that goal?

What will immediately happen after you implement that advice?

Why would that happen?

And then you can keep asking those questions, going deeper and deeper until you get to the truth of whether it’ll work or not and the way you do that is you keep asking questions until you get to the goal outcome or until you find a logical fallacy.

So if you go through each exact step that would happen after you implement the advice, and you find a logical flaw then you know the advice is bad, but if you go through each exact step and you get to the goal outcome without a logical flaw, then the advice is good.

And you can do the same for decisions.

Let’s say you want to make a decision.

You would lay out your choices - choice a and choice b.

You would figure out the goal of the decision, what is the outcome you want to achieve from that decision.

You then go through each choice following the framework and asking yourself;

• Is that true, how would that work?

• What will immediately happen next?

• Why would that happen?

Or another way to look at this would be through the lens of inputs and outputs.

Your goal with the information is the output, the information is the input.

If you input that information/decision/action, will you get the desired output?

And often, a lot of the time with critical thinking, this will be incredibly obvious with flawed advice or information - once you ask yourself this one question, it’ll be obvious that you won’t or will get the outcome

But it’s only obvious if you ask yourself the question.

And you essentially, repeat this, running through your framework until you get to the goal outcome or find a logical flaw.

If you find a logical flaw in one of your choices, you choose the other choice.

Now you can use that framework I just laid out, but the thing about critical thinking is that your mind processes information at over 11 million bytes per second, so for every question you ask yourself, you subconsciously ask a tonne more.

So over time you will develop your own process and build your own framework, depending on the way you think.

The one I gave you there is a great base.

But the main idea behind critical thinking is to remove yourself, your emotions and your biases from the situation and then question it logically.

Question in every and any way you can to see if that bit of information or decision or action will actually help you achieve the goal outcome that you want to achieve with it.

And as I said, it’s a skill.

So it’s something you will get better at over time.

With practice, you’ll get better at finding the truth and seeing things objectively, for how they really are.

 

Mental Models

 

To help you with improving your thinking and seeing the world more objectively, you can use what are called mental models.

These are essentially frameworks for thinking that can help you understand the world more objectively.

Now there are a tonne out there, which you can feel free to look into, but here are 2 which are in my opinion, essential for anyone who wants to become a better thinker.

 

1. First Principles Thinking

 

First principles thinking involves breaking down complex problems, ideas or bits of information into their most basic, foundational elements and then reassembling them from the ground up.

It’s about getting to the core of a problem, removing assumptions, and looking at it from a fresh perspective.

Essentially, it’s a fantastic way to think critically and therefore objectively.

To use first principles thinking, you first need a bit of information or a problem.

You then identify and question every assumption that underpins your current understanding of a problem.

So, if for example, your problem is that you can’t scale your business.

You would write down all your assumptions;

• I need more clients to scale my business

• I have effective systems for signing clients

And so on.

You then question each assumption: asking why it exists, how it came to be, and its validity.

So you would question your assumption of needing more clients to scale your business.

And you would find out why you think that, and if its true.

You would then strip the problem down to its base fundamental truths.

So for example, how do you scale a business?

You earn more money.

How do you earn more money? You sign more clients or you increase the lifetime value (LTV) of your clients.

So your assumption of needing more clients to sign your business is wrong because you could also increase the LTV of your current clients.

And so by using first principles thinking, you figured out your assumptions around the problem.

You then figured out what the fundamental truths of the problem and your assumptions are, which you can then use as building blocks to construct new solutions or understandings.

Now, instead of focusing on signing new clients, you can focus on increasing the lifetime value of your clients, so every new client you sign in the future will be worth more because increasing the LTV of your clients will likely involve providing better service and getting them better results - making it easier to sign new clients when you decide to focus on that.

So first principles thinking is a fantastic way to think critically and objectively to help you get better results by figuring out what you assume about the problem, what the truth is about the problem and your assumptions and then using those truths to form solutions to the problem.

 

2. Occams Razor

 

This is a principle that says the simplest explanation is usually the correct one.

And look I’ve said it 100 times in past emails, simple wins and simple beats complexity every day of the week.

If something is complex, you as a human, are less likely to do it because you’re naturally drawn to the path of least resistance, so the goal is to always go for the simplest - and therefore the lowest friction - correct option.

Using this is incredibly simple.

If you end up with multiple solutions to a problem, multiple choices that work, multiple bits of advice that work, or multiple reasons for a problem to have occured, you want to evaluate them based on their complexity.

So for example, if you have a problem with scaling your business, there could be multiple reasons for that.

1. The market is too saturated.

2. Nobody trusts you and your brand

3. The business model isn't sophisticated enough.

4. The organisational structure of your business is too rigid.

Or it could be that you’re not booking enough sales calls.

Which do you think it’s most likely to be? It’s most likely to be the simplest reason of not booking enough sales calls, because if you don’t book enough sales calls, it doesn’t matter what business model you have or what organisational structure you have.

Now, this doesn’t always mean that your problem is that you’re not booking enough sales calls, because the simplest option isn’t always the correct option, but it is normally the correct option.

And laying out the reasons in this way, with the goal of looking for the simplest option can help you find what the correct option is, even if it's not the simplest.

So that is how you think like a millionaire.

You become aware of yourself and patterns, you learn how to think critically and you use mental models to help streamline your critical thinking.

All you have to do now is practice these things and let time catch up.

— Ross.

 

 

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