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A rich mindset vs a poor mindset, what is the difference between the two? Well, it is ok to associate richness with money, but it is good to note being rich is not all about money. It is more than having money. Even when you feel you have the most money, a rich mindset is beyond that money.
A rich mindset is about well-being, abundance, having time, success, and the right mindset. So, don’t be surprised to find a poor person with a rich mindset. That person may be poor because of a few circumstances, but that does not mean that person also have a poor mindset.
Now, to help you get the difference between rich and poor mindset, this post has wrapped a few things. Ready to learn more? Let’s get started, shall we?
- Rich mindset: always embrace competition and knows that iron sharpens iron.
- Poor mindset: By all means discourage competition. They will always give a reason why competition is unnecessary.
- Challenge yourself: Learn to embrace competition. There is room for everyone if you do everything right. There are stories of people who braced for competition and made it, why not you?
- Rich mindset: This person looks forward to long term benefits. This fuels such a person to spend their time resources and energy on things that continue to pay off along the way. In other words, people with a rich mindset keep on building the right momentum along the way with a clear goal in mind.
- Poor mindset: This person thinks about short terms returns. Anything promising long term returns, such a person views it as a waste of resource and not worth it.
- Challenge yourself: Investing in yourself is very critical. Short terms returns are sweet and give you the energy to press harder, but it good to give yourself time to see your real potential. For example, when accessing personal productivity, you will not see the real result the following day, but at some point, later, you will.
Risk vs Reward
- Rich mindset: This person understands nothing good comes on a silver platter and is more than willing to take a chance and try. Basically, it is about risk vs the ultimate reward.
- Poor mindset: This person never takes any risk. Anything that has no clear path of profitability, it is not worth trying. In other words, poor mindset never focuses on anything that is not promising.
- Challenge yourself: Accepted that not everything has a clear path to profitability or success. Being uncomfortable sometimes along the way could be more rewarding at the end.
- Rich mindsets: People with a rich mindset help each other without expecting anything in return. The goal of these people is to build a healthy relationship, cultivate trust and nurture mutual respect.
- Poor mindset: On the other hand, poor mindset expects something in return. These are the kind that believes you have to reciprocate or return a favour.
- Challenge yourself: Look around, who are your friends? Do they always expect you to reciprocate by doing something every time they help you do something? If yes, it is time to find new friends who have a productive mindset.
- Rich mindset: This person understands that the most crucial goal is to gain a surplus of resources. And not just gaining and sitting on the resources. But to acquire and use that surplus to make a change. For example, to accelerate investment, education or a positive course in the community.
- Poor mindset: This person sees a surplus as a golden opportunity to enjoy life and a prime opportunity for consumption.
- Challenge yourself: Create a 30-day list. If you find you have to wait for your salary to do something, it better be something you absolutely need. Alternatively, think about where you can accelerate things.
Luck Meets Opportunity
- Rich mindset people know the world owes them nothing. They know they have a task to make a difference and always act swiftly, practically and humbly. You will never find these people chest-thumping and are always quick to appreciate opportunities in their life.
- Poor mindset feels the world owes them something. You always find them complaining and waiting for opportunities to knock at their doors.
- Challenge Yourself: Go get something you want today or by the end of the week. Then, if you get it, be grateful that luck met opportunity. If not, appreciate your effort and take some time to try and understand why.
- Rich mindset: These kinds of people understand they don’t know everything, and that sometimes it is ok to learn from others.
- Poor mindset: Believe they know everything, not ready to listen to others and view opposing opinions as irrelevant.
- Challenge Yourself: Seek to place yourself in a situation where you are more than willing to accommodate more thoughts before making a decision. Even when you find you know everything, create a room for extra information. You may be surprised there is something useful you don’t know that can change your thinking.
You Can’t-Do It All
- Rich mindset: Such a person believes in the power of working as a team to walk far and achieve more. Such a person knows that no matter how someone is good, sometimes working as a team is more valuable.
- Poor mindset: This is the kind who thinks that everything is doable by just working hard without inviting others to help. Such kind of person think is super-talented and don’t need any support.
- Challenge yourself: Accept that not everything that needs to be done, you have to participate. If not a fit match, let others do it or work as a team.
Know When to Quit
- Rich mindset: Not all the time, you need to press harder. Rich mindset people know when to quit and especially when the signals are clear. Basically, these people plan to quit when they realize the potential gains is not worth the pain of the work involved.
- Poor mindset: Are quick to quit without a deeper look. Short term discomfort often triggers them to walk away.
- Challenge yourself: Learn to take action when it is necessary. For example, don’t rush to quit your job because of a small argument you had with your boss. You can take that argument as a signal, plan for an exit plan but don’t rush things.
War of Attrition
- Rich mindset understands that nothing worth doing will be hard. Even when the going gets hard, people with productive mindset never give up. They keep pressing harder and harder until they see real results.
- Poor mindset: On the other hand, these people are not willing to be bothered. Quit very fast when things get tougher.
- Challenge yourself: Don’t allow yourself to be distracted by things like expenditure when the pursuit is worthwhile. Just keep fighting until you get that which you are after.
There’s No Such Thing as Done
- Rich mindset, they believe the end of something is the beginning of another thing. They believe challenges and learning define life,
- Poor mindset believes that one day, they will be able to retire – to kick back and do nothing. They forget the end of one thing is the start of something else that might be more rewarding.
- Challenge yourself: Now, if you didn’t have to work for the rest of your life, what would you do every day? For example, after your retirement, you can try to do something like gardening. You may be surprised that which you started as a hobby becoming a big business.
- Rich mindset: These are the kind of people who celebrate the success of others. They get inspired to press harder when they see others succeeding and always embrace competition.
- Poor mindset: These people are ever jealous and bitter about the success of others. They are never happy when others are winning or receiving.
- Challenge yourself: Find someone who is doing better than you, make him or her your mentor, learn and see what you can do better.
- Rich mindset. Understand that it takes time to build a good image. Rich mindset also understands that trust contributes significantly to building a good reputation. These kinds of people do everything possible to keep the right image.
- Poor mindset: These are the kind of people who will tell you there is always a room to bounce back after tarnishing your reputation. In the first place, why compromise your hard-earned reputation?
- Challenge yourself: Always follow the right road. Time spent trying to rebuild your reputation is not worth if you had an opportunity to keep everything ok from the start.