Aug
26

The Secret Strategy of the Super-Rich

By

After 26 years of interviewing the wealthy, one strategy they taught me outranks all the others. It’s the strategy that catapulted me from no money to millionaire. The first million didn’t happen overnight, but the second, third and subsequent millions came quickly. Once I learned how to think like the rich, this secret strategy was the mechanical process that generated the money. Like most strategies of the world class, it’s not really a secret, but I call it that because so few people use it. I don’t know if it’s laziness or lack of awareness, but whatever the reason, this is NOT for you! (or me)  (I stole that line from my friend Brian Tracy. Thanks Brian!)  The How Rich People Think book tour wound through Boston, New Haven, Connecticut and New York City this week, and the most surprising thing to me is how few of these famous TV anchors picked up on the strategy! I mentioned it several times in the interviews, but only a couple of them caught on…even in NEW YORK CITY!  Watch this short TV interview I did a few days ago on ABC in New Haven, Connecticut. The gal interviewing me was sharp as a tack, and I think you’ll see the look on her face when she gets the secret. See if you can pick it up and leave your answer on the comments. I’m expecting my friend Mike Michelozzi to jump in and take the lead on this one!  No pressure, Mike! 🙂     Steve Siebold

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Comments

  1. Clara says:

    Steve, first of all, thank you very much for all you are sharing with all of us. Second, this was a great interview!

    She asked you about, in at least three different ways, how to overcome the middle class mentality (or mind-set) It was not until you talked about the State of Mind that, I believe, she need it to get that part clear. Which I believe is more esoteric thinking, as “we are what we think about” and some how people have a hard time understanding that part. The other two times her face light up was you talked about the World Class uses Leverage/Network and Emotion/Logic connection on using emotion for motivation and logic for calculated strategy and never mixing them.

    Again, thank you.

  2. “Any circle of influence that cannot be easily accessed is where the wealthy hunt.” — Steve

    Thanks – that’s a piece of gold.

    I believe credibility is everything – I hadn’t identified it with leverage – but you’re right. Trust and respect go with it.

    Mike

  3. Steve says:

    Mike,
    My favorite is the leverage of credibility. Credibility sells like nothing else. The rich use their credibility to gain entry to new areas of business, and new and higher circles of friends. I like Ivan Misner personally and believe BNI is a great concept, but you won’t find the rich in those circles. Any circle of influence that cannot be easily accessed is where the wealthy hunt. They are always looking to break into closed circles, because that’s where the biggest players congregate.

  4. Scott Bodiford says:

    Steve,
    I like watching your interviews and participating in your 10 day speaking course. Your 177 Mental Toughness Secrets is so incredible. Thanks for all that you do. This lady was really attentive. I have a couple of questions for you, or anyone who feels like answering. 1.) How do you go about creating, or generating, more networking opportunities/contacts? 2.) Can you give a specific example, real or imagined, of how leverage works? I am still trying to wrap my hands arounf this concept.

    Thanks,
    Scott in Atlanta

  5. Lisa Gough says:

    This minnow has a lot to learn. How great is it that I get to learn from a whale!

  6. Michael Lee says:

    Yes!! I was the first to get it right!!!

  7. Steve says:

    Of course all of your answers were right on the money, but the one word that sums it up best is ‘Leverage’. The rich leverage everything, including their contacts, credibiity, knowledge, money, education, etc. While the rest of us are hard at work, the rich are leveraging their way to greater wealth. I believe it’s their greatest secret and best strategy. Thanks to everyone who participated in this question. Special thanks to Mike Michelozzi for leading the way.

  8. Lisa Gough says:

    Nay-sayers and over protective parents.
    Gotta love ’em. 🙂

  9. Lisa Gough says:

    Exactly. Well said Mike. Thank you for your thoughts.

  10. It can be disheartening watching family members like that, Lisa.

    We’ve all studied these things from the self motivational stand point and from many angles and perspectives. When I first came upon Steve’s mental toughness, I realized no one I’d encountered past or present had put so much depth, intensity, and insightful awareness into communicating what it takes to achieve success – world class success – as he does.

    He continues to do that which is why all us posting and the thousands who pass through continue to do so.

    For me it’s one piece of the whole I work on from many areas of study and what’s important for me is putting insight and general though into some kind of daily action.

    Putting insights and vision into action is the focus trainers need to work on with the people who come to them for help.

    Mike

  11. Not sure if it was that “networking really works”, or the seperation of thinking, the idea, vs. the logic, or leverage of the idea.
    At any rate, very good interview. She was very receptive.
    Denise Fowble

  12. Steve Miller says:

    YEA Steve (Siebold)! Every day I learn through personal experience that what you are saying is true. I hope more people hear your message and act upon it. This past week I set up my 4th company, and the prospects are bigger with each succeeding one. Can’t wait to share stories with you and Dawn over dinner. You are such a good interview! Well done.

  13. Lisa Gough says:

    Good for you Butch! Contratulations!

  14. Butch says:

    Hey Steve, you are so right on. On August 1, I had an idea and the idea has netted me $2000 this month alone and it looks like that will double next month. Maybe I am lazy, but I really like thinking wealth into my life vs. just working my tail off.

  15. Lisa Gough says:

    Mike,

    You were a high school journalism teacher? No wonder I like reading your posts. You are very intelligent and you articulate your thoughts very well. I think its an extra bonus for all of us who post here that you regularly contribute to Steve’s blog.

    In your earlier post you said “Like you say this is a great time for opportunity and the biggest challenge I see for people is deleting all the negative all the destructive all the disparaging all the doom and gloom all the fatalistic all the crap that is filling their minds with the wrong stuff – the stuff of which dreams are destroyed of.” You are SO right on.

    I have a brother that is obsessed with everything that’s going wrong in our world and it breaks my heart because he’s a beautiful man and he has such a beautiful family. I know if he could go through the process of letting go of his destructive beliefs and mentally cleaning his house, he could have such an amazing life for himself, his wife and his georgous kids. It makes me sad. But… at the same time, it also makes me realize that for him, and so many other people like him, if he didn’t have things to worry and obsess about, his life would not feel normal.

    I know, for the most part, we are all the same. Capable of making our own decisions and creating our own reality. And I believe that’s why there are so few who truly operate from a World Class perspective.

    I think one of the greatest challenges for those of us who choose to practice World Class thinking and live like champions is when we look around and observe our family, and we see those whom we love so very much, who could easily make the shift if they applied themselves, and knowing deep in our heart its a good chance that they probably won’t.

    My family are used to me by now. But that won’t stop me from spreading the World Class message and hopefully becoming a World Class convert before some in my family move to the hills!

    Good to meet you Mike 🙂
    Have a World Class Day!

  16. Maria L says:

    Network = Networth

  17. Gem says:

    Steve, thank you! You have been an inspiration to me. Whenever I feel down & thinking on poverty/middle class level, I grab your book (177 Mental Toughness Secrets of the World Class) & your words slap me back to abundance thinking. Always worked although it took me years to reprogram my fear based thinking. I can’t wait to get your new book.

  18. Lisa Gough says:

    Ahhh Mike, you beat me to it! “Use emotion for motivation and logic for calculated strategy and never blend the two.” Something tells me she’s done this before, judging by the conviction she showed when she agreed with you.

    Steve, I’ve enjoyed all of your interviews so far, but I think this one is my favorite. I am so pleased to see that they gave you more than 3-5 minutes to bring your book to life. You were able to explain more about the thinking process, rather than having to defend your position or talk the interviewers into changing their own mindsets while being interviewed. Great job Steve. I am SO excited for you! And I’m SO VERY excited for us!

    Mike – WOW. ….Just wow. Loved your posts 🙂

  19. Rich says:

    Individuals are not the only ones who operate from a perspective of fear. I have seen groups and entire companies operate on the fear of loss rather than that of winning through achievement. They say, “What do we have to do to not lose this contract.”, when they should say, “How are we going to solve problems a prove that we are the only true winners of this contract.” (or something to that effect.)

    We must see problems and challenges as opportunities to rise above by facing them and solving them. It truly is amazing what our minds can do if we get out of its way!

  20. Great job Steve…Love the leverage focus – I have finally learned this after 20 years…Have increased my networking and span. Great book – Read a chapter a night.

  21. Steve

    Excellent interview! I agree that a major challenge lies in translating a good idea into action. I’m looking forward to your next application of mental toughness secrets.

    All the best,

    Steve Bartell
    The Golf Ecosystem

  22. Roger says:

    This is great interview. From the many things said this one stand out : Use emotion for motivation and logic for calculated stragegy, never blend the two.

    I love your no nonsense approach, that sound like world class thinking. 🙂

    Thanks Steve.

  23. Ed Lamont says:

    Hi Steve,

    Your reminder of the danger of operating from a fearful mindset came to me at exactly the right moment. The concept of solving problems for others means much to me as well. When you speak, everyone gets a vivid example of abundant thinking.

    Brilliant, cogent interview. Those who heard your words are fortunate. Those who heed your words are wise.

    All the best,

    Ed

  24. Chris says:

    Excellent video, Steve. It seemed like you were making a few points:

    1) Focus on earning more rather than saving more
    2) Solve a problem for people and they will make you wealthy
    3) Emotion is for motivating yourself – not for making decisions around money
    4) The rich aren’t risk takers – they plot their way to success
    5) The current shifts in the global economy (to the East?) presents lots of opportunities.

    Anything I missed? (I hope not the point of it all).

  25. Michael Lee says:

    Longest and best interview yet! I would say she go the power of “leverage/networking”.

  26. Mike says:

    Steve, I think the “Secret” is three part: Be a problem solver, as the world will pay handsomely for people finding solutions to problems. The second is to leverage whatever product/service you provide. The third is to focus on earnng and not saving. Use the money you earn to earn more and leverage your money/time/contacts etc.

    Good interview Steve.

  27. Sam Oduselu says:

    Great Interview Steve. Thanks for all you

  28. Greg says:

    Very nicely done, yet again Steve. And I can’t thank that lady enough for giving you a great platform. Sounded like she’s already on board with much of what you teach.

  29. The one that jumped out at me was:

    “Networking really works!”

    As you said – the world class leverages everything: ideas, contacts, education, everything. If you have a large enough network, you can have access to just about anything you need. Thanks, Steve!

    Wiz…

  30. JT DeBolt says:

    Great interview, Steve. I am really enjoying How Rich People Think, and have recommended it openly to my circle of influence. Fantastic work!
    ~JT