Make Money Jot

State of Mind

Psychology plays a role in making money and creating wealth.  Wealth is a state of mind is the concept that I first read about in Robert Allen’s Creating Wealth, published in 1983.

Nine years after receiving his MBA from Brigham Young University, Robert wrote the book that outlined the system he used to create a wealth “nest egg.”  Robert was one of the first to publish books on the no down payment methods for real estate and other high leverage real estate strategies.

While most of these techniques are high risk and some are outdated, the one thought that I remember from the book is that creating wealth is a state of mind.  Robert used the thought to outline that even if all of his personal wealth and income where gone, he would still be able to buy properties and create new wealth, because his knowledge, attitude, and belief.

Knowledge

The focus of knowledge is the core information you need to know.

1. The fundamentals of business, finance, marketing, accounting, and the like are all the starting piece of knowledge.
2. Industry specific knowledge is also important, whether you are in real estate, Internet business, retailing, etc. 
3. Personal knowledge like socializing and networking with friends, co-workers, associates, and partners.

You can have too much information, but you cannot know too much.

Attitude

A positive attitude is critical to any success.  A negative attitude can be the straw that breaks the camels back, while a positive attitude can be the force that propels you to soar to new heights.

Belief

Belief is directly influenced and related with your attitude.  Belief calms nerves and builds confidence.

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