The Millionaire Mindset


By Shereen Shabnam

 

Almost every week someone asks me since I have been interviewing millionaires and royal family members for over 20 years, what makes them different and if they have shared information with me that could help them become successful too.

From what I see based on the 5 page of questions I ask them before I start on a profile feature, there are certain habits application of common best practices in their daily routine that helps them be who they are. Here are 12 best practices of some of the most successful individuals I have interviewed in the last two decades.

  1. They set personal and professional goals.

Most Business leaders set personal and professional goals that are ambitious and in synergy with their personal lives and company targets.

  1. They write down daily, weekly and monthly meetings and targets with each meeting they have

Most people look at their immediate plans and only plan their day or week instead of their monthly, quarterly and annual achievements. Most successful people I interview look at the big picture.

  1. They look at the end result

Most of the CEOs I speak to know exactly what they want to accomplish at the end of each project they start on and work backwards. Based on the end result, they plan their schedule and work towards what they want to achieve.

  1. They pay attention to detail

Most people fail because they have not dotted their i’s or crossed their t’s or in other words, they have not done a SWOT analysis on what can go wrong and what works in their favour. The best performing CEOs are comfortable asking their team, their clients and their stakeholders tough questions.

  1. They listen more than they speak

One member of the royal family said to me that his staff once told him that they valued the fact that he listened to everything they had to say first and the fact that he never interrupted them. Without hearing what people tell you, it is evident that you will not be able to present the proper solution.

  1. They assess every situation before taking any action

Always summarise the situation of clients, customers and services before addressing key issues in the business. Most successful people take time to react or reply to a situation because they take stock of all issues before responding to stakeholders.

  1. They know how to compromise and adapt

Adapting to a constantly changing business environment because of politics or economy is challenging but you can stand out from your competition by compromising and understanding the climate of each crisis and opportunity

  1. They are passionate about their product, service or solution.

Many businesses talk about their product, service or solution without offering a tailor made solution that suits their customer’s situation. Doing a bit of homework can help you keep a client for a lifetime.

  1. They come prepared for every meeting

The best business leaders anticipate different scenarios for each meeting they attend and prepare accordingly. Research the person or organisation you have a meeting with so you know what to expect and feel at ease.

  1. They always follow up

Most leaders and decision makers are busy but they always take time to recap the meeting in an email so that next steps can be taken and the project can move forward. I am always impressed when a CEO or a royal family member calls me up a few days after the interview to ask if I had everything I needed for the interview.

  1. They are friendly

I am yet to come across a successful CEO or royalty who was rude. Sometimes it is the middle management or PR teams who craete a negative impression by setting limits on the time you can spend with the business leaders but almost every interview I have done has gone beyond the few hours set aside because successful people make set less meetings in the day and they focus and nurture the people they are with so that they close the deal end of the day or leave a positive impression on people they meet.

  1. They stay in contact with stakeholders

Successful CEO’s and brands find ways to stay in touch so you remember their business and brand in a positive light. Getting an Eid card or birthday wishes from people I interviewed years ago reminds me of them and often I have returned to interview them again for their different businesses because they made an effort to stay in touch.

 

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