How Rich People Think – Steve Siebold

A story is told of a horse once stuck in a pond filled with mud and could not get out. When a few herdsmen inspected the place, they saw the mud would not allow the horse to come out; it was only the strength that the horse could gain mentally and not give up that would bring him back to his feet. They then invented a plan to get their herd of horses to run around the pond to mentally inspire the stuck horse. As the horse saw his friends gallop around the pond, he mentally decided to give his last try- with all the strength he rose and finally was back to feet.

The secret is not in the mechanics of money but one’s level of thinking.  Siebold expounds on 100 mindset shifts that have helped rich people accumulate wealth and shows the contrast to how the middle class thinks. Every chapter compares the “middle class” and “world-class.” These terms reference the average person versus the world-class thinker. The idea is to compare the way most people think about money in contrast to the rich. Some of his ideas are as discussed below:

The middle class focuses on saving…world-class focuses on earning; instead offocusing onhow to protect and hoard their money, world-class thinkers direct their mental energy toward accumulating wealth through serving people and solving problems. Secondly, while the wealthy direct their efforts on the most profitable areas of their business as they leverage their contacts, credibility, and resources to maximize the results of every action, middle-class thinkers believe that only hard work creates wealth. He also asserts that the masses believe making money is mysterious while world class-thinkers know that money flows from ideas.

Steve interestingly addresses the issue of formal education and specific knowledge. While the masses are convinced that master’s degrees and doctorates are the way to wealth, the rich have learnt to amass their wealth through the acquisition and subsequent sale of specific knowledge. As the masses spend a substantial amount of time entertaining themselves in a variety of activities, the rich spend time in activities they enjoy. Finally, the masses spend while the rich invest.

From the few examples above, there is nothing wrong with how the average person thinks, they only need to widen their perspectives and think like rich a rich person.

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