Episode 361: Cultivating the Millionaire Mindset
In the journey to success, one must overcome self-doubt and negative beliefs. Adam’s evolution from a young, insecure student to a successful entrepreneur highlights the importance of finding what you excel at.
In this episode, Adam Stott explores the evolution of his mindset throughout his journey. From humble beginnings to discovering his strengths, embracing personal development, and entering immersive environments, Adam shares pivotal moments that transformed his perspective and set him on the path to becoming a millionaire.
By learning from those who have achieved similar goals, implementing strategies, staying persistent, and surrounding oneself with positive influences, listeners can develop a mindset geared towards success.
Show Highlights:
- Specialized information is crucial for personal growth and success.
- Taking massive action, even in the face of uncertainty, is key to progress.
- Persistence and resilience are essential qualities on the journey to achieving goals.
- Building a supportive environment with like-minded individuals can fuel motivation and drive success.
- Embracing personal development and continuous learning is pivotal in shaping a millionaire mindset.
Links Mentioned:
Get your Business Growth Secrets SUCCESS PLANNER for FREE and profit like a pro: https://adamstottplanner.com/free-book47315172
Adam’s website: https://adamstott.com/?el=Pod
Watch the Episode on Adam’s YouTube Channel: https://www.youtube.com/adamstottcoach?el=Pod
Connect with Adam on Instagram: https://www.instagram.com/adamstottcoach/?el=Pod
Join Adam’s network on LinkedIn: https://www.linkedin.com/in/adam-stott-coach/?el=Pod
Coaches, consultants, and business owners – lower your marketing costs, increase ticket prices, and get more high-ticket clients: https://3daybrandbuilderworkshop.com/start-here?el=Pod
Transcript:
Please note this is a verbatim transcription from the original audio and therefore may include some minor grammatical errors.
[00:00:00] Adam Stott: How do you cultivate the mindset of a millionaire? Even if you’re feeling like I’m just starting out and you’re saying to yourself, I don’t know if I’m going to make it what I’m going to do. And you’re not getting the results you want in your life. How do you start to think like a millionaire, act like a millionaire and win like a millionaire?
[00:00:18] That is what this episode of business growth secrets is all about. Let’s jump in.
[00:00:26] Hey, everybody. Welcome to another episode of business growth secrets. Today, we’ve got some questions in from lots of our clients. And today I’ve got with me, the head of our client success department is here to help our clients win, which is our greatest value. How do we help our clients to get more?
[00:00:45] Results within their businesses and help them to grow. So big welcome to the podcast. Steve.
[00:00:50] Steve: How you doing?
[00:00:50] Adam Stott: So looking forward to chatting with you. You got some great old Questions in so do you want to tell us a little bit?
[00:00:57] Uh, where we’re at, what questions we got and we’ll go from there, bud.
[00:01:01] Steve: Yeah, I’d love to. Thank you. So, um, a few of the clients want to know about your mindset specifically, sorry. Um, and the first question that we’ve had in from somebody, um, is can you explain the evolution of your mindset throughout your, your work in life?
[00:01:14] So starting from the very beginning. In your first job, was your mindset always, I’m going to be a millionaire. I’m going to do it. I’m going to smash it. Um, or was there like a catalyst in your work in life at some point where something triggered you and you were like, right, this is the path that I want to be on.
[00:01:31] Adam Stott: You know what I love I think it’s a well well cool question And and i’ll give you we’ll try and break this down because it’s quite an expansive question If if I took you back to when I was very young, I was 15 years old. I left school with one gcse Which was a being drama and I got used in everything else.
[00:01:50] And the only thing I’ve learned in school was pretty much that I was a terrible student and that’s kind of what I felt like I’d learned in school. So actually when I left school, my mindset, and this is not one of these where now I’m going to go back to my school, but you know, and all this kind of stuff, but I think it’s important because it shows the evolution, which is the question you’ve asked.
[00:02:10] So when, when I was in that place, my mindset was. I’m not a good student. Um, I don’t catch on to things very, very quickly. Uh, I can’t learn in groups. I don’t, and actually I had a really, really low self esteem and opinion of myself at that part of my age. So the reason that I’m going there is because, You know, that’s where the question leads.
[00:02:35] So what happened to me is a trigger point and change point was I did a few menial jobs and worked in some different places that were quite, you know, I went and I worked on building sites. I worked with my dad, who’s a great builder and I was a terrible builder. I then went and worked at KFC, which is, uh, you know.
[00:02:53] For all, I actually didn’t mind it, but it wasn’t a great job. It wasn’t the nicest place to work. And, you know, I went and worked in all these different little jobs and my mindset always was, I’m never really going to achieve much. I’m not going to accomplish much. I’m going to do very well. And I’m just getting through life.
[00:03:08] I was getting through the weekends, just trying to, you know, go and just do all the, all the stuff quite young. And then what did change for me is I got a job working at a place called powerhouse. And when I got that job. For the first time, and I won’t, because I think I’ve spoken about this previously on the podcast, so I won’t go too deep into the job, what I was doing, how it all looked and what it all worked like.
[00:03:31] But what I will tell you is for the first time, I found something that I was good at. And what I was good at was talking to people, building relationships. And that was the first time that my self esteem rose. So when we look at why, why do people care? And why does it matter to them? It’s because somebody might be listening and they might be in a place where they don’t feel like they’re that successful.
[00:03:57] And they’re saying the wrong things to themselves. They’ve got the wrong story and the wrong internal chatter going on. And they probably don’t like the version of themselves that they see in the mirror and the results they’re getting in their life, but actually they want to change that. The first change starts with small wins.
[00:04:18] pieces of momentum building on top of each other to move in the right direction. And that for me was finding that thing that I was good at. Soon as I found that, then I went to work with a smile on my face. Then I started to enjoy what I was doing. Then I started to get more excited and my enthusiasm started to go up and all of a sudden I’m a more bubbly, friendly character.
[00:04:38] I’m more open to learning. I’m listening. I’m engaging. That was my first trigger point. Now, my second trigger point, which will change point, which is what the question, the way you ask the question was when, when I was doing that and I hit a bit of a wall as to how much I could grow, I kind of, I went from, Achieving nothing to very quickly achieving some small and I mean small career success.
[00:05:05] And I was like, ah, yeah, I’m good at this and this is good and the rest of it. And then I hit a bit of a wall and I couldn’t seem to go any further and I stuck. All right. And that’s when I first started getting into personal development. And I realized that if I was going to go further, I couldn’t rely on other people To give me the opportunities other people to bless me with uh, I knew that I’d say if it’s meant to be it’s up to me I didn’t know that I wouldn’t be able to Intellectually talk about it in that way But what I did know is that I was going to achieve more I needed to take some responsibility And and that’s when I started getting into personal development and that was a big big big moment in In my life which cost some of my previous beliefs.
[00:05:57] So I started reading some You Some books on sales. It’s my first ones, right? So I remember the first one, like I ever read was, um, selling to win by Richard Denny, if you’re a very beginner salesperson, this, the lessons are so basic, they’re ridiculous. Be prepared, turn up on time. Uh, the more no’s you get, the more that leads to a yes.
[00:06:19] All the basic stuff, right? Real basic, but it ain’t that basic if you don’t know it. And I didn’t know it. So for me, it was like, Oh my God, this is like world changing. And what that did is that built my confidence and it quashed my previous belief that I couldn’t learn. And as soon as I’d got rid of that belief and I realized that actually if I was interested in something I could learn, that was my next shift upwards and it helped me break through that plateau.
[00:06:46] And that was kind of the next thing that that happened for me and and it helped me go further. So that was a massive, massive thing. And the next thing that I then looked at was I, I read a book called Think and Grow Rich because up until this point, I never ever thought that I was going to. Be a millionaire.
[00:07:03] I never thought I was going to be wealthy. I never thought I was going to achieve that much. And. What I did think was I might have a good career now because I can do this and I can do it well and, and, and it’s going in the right direction, but my, my belief was still capped. And I think a lot of people read this book right over their lifetimes and, and it’s helped them to believe in themselves and, and different things.
[00:07:28] It’s like one of Biggest personal development books all the time. And I listened to this book. I remember what reading this book and I’m reading it and really zoning in and really something in that book, inspiring me where it finally took the cap off. And I said, you know what? I don’t just have to have a good career.
[00:07:45] I can have anything I want. And that was a big, big, big shift. And, and then I started to read more books. And I remember then I remember reading. Love him or hate him. I read one of the books my dad gave me was Donald Trump’s book, right? And the book was called, uh, still is called the art of the deal. And when I got this book, I remember just reading this book totally in awe of what somebody was able to do.
[00:08:17] And it’s so weird because when you’re, When you’re young, you don’t have many prospects, no one, you don’t know anyone that’s successful. You don’t know anyone that’s really made it and everyone you do know that’s made it doesn’t want to talk to you, right? So the, your only source of getting access in those early days is sometimes through books, right?
[00:08:38] And I read this book with Donald Trump and the way that Donald Trump’s book, The Art of the Deal, was written is the first part of it, he gives you his diary, Have you read the book?
[00:08:48] Steve: No,
[00:08:49] Adam Stott: you haven’t read it. No. Okay. So it’s just an interesting read. Love him or hate him is interesting, right? Basically, it’s his diary and it talks about him every hour what he’s doing on an hourly basis And I and I was just like can you do that?
[00:09:03] Can can you actually oh what you can do that and you can do that and and and then he’s like What he’s building a tower now and it talks about him building small buildings bigger buildings towers So this guy just does what he wants, you know, I mean, I was like, could I, could I be like that? Could I do that?
[00:09:25] And, and it just opened my mind and he got me dreaming. It got me believing. And an interesting thing that one of my mentors says to me now is you, you have to see yourself doing something before you can believe that you can do it. So for example, if we wanted to build a skyscraper. We’ve got to imagine ourselves building that skyscraper.
[00:09:51] We’ve got to imagine ourselves in the, in the meeting, you know, getting the blueprints out, what it’s going to look like when it’s built, you know, hiring the builders, having the conversation, we’ve got to see all that in our mind. Before we ever can create it in real life. And I, and I think that what happened, I didn’t build a skyscraper, right?
[00:10:11] Not yet. Not yet. Anyway, but what it did do is it showed me that you can dream and I’m still young. And I actually remember still young, reading all this stuff, filling, basically what was I doing? I was filling my head. with ideas that were way beyond my skill set, my capabilities, my beliefs, way, way, way beyond what I was capable of doing.
[00:10:39] But I was filling my head with that stuff when a lot of other people were feeling the edge of other stuff. So that was kind of the thing that got me into it. And then I remember in that moment, then around that type of age is like, you know what, I want to be a millionaire. I want to be a millionaire before the age of 30.
[00:10:55] I remember having all my goals written down and my books written down and all the things. And I remember my brother and his friends finding it and taking the piss out of me. And then I remember when I first went to Ford and I told everyone at Ford, I’m going to be a millionaire and everyone else took the piss out of me.
[00:11:10] And they were all like that. And, and what I realized now that I probably didn’t realize then is, is. If, if you want more than the other people around you, it just makes other people feel uncomfortable. But if you, if you want more, go and get more. It’s all there for the taking, right? It’s all there. Now, is it going to be easy?
[00:11:33] No. Are you going to succeed every time? No. Are you going to fail? Yeah. You probably are. Are you going to fail a lot? Yeah. Are you going to have some hiccups? Yeah. Are you going to, you know, you have ups and downs? Yeah, you will. But if you, If you keep going, then you can create anything that you want. And, and for me developing that mindset, all I’ve talked about so far is, um, some small brief skill sets and books.
[00:12:04] Then what happened next is started going on courses. I put myself in environments and what I’ll do is I’ll try and wrap this conversation up with a few things. Like, how do you pull this together? How does somebody watching this practically adopt a mentality where they can become a, become a millionaire if they want it bad enough, right?
[00:12:22] And we’ll go there. But the next thing is I started putting myself in immersive environments and in those immersive environments, I met great people. I saw things differently. I started going to all the Tony Robbins events and in Tony Robbins events, you jump up and down, you get lifted up. It was awesome.
[00:12:38] Right. Got me excited and then got me thinking I could achieve even more. And now all of a sudden, I’m in, I’m actually in a different place mentally to the other people around me. Just different because I put different ideas in my head, you know What you feed your mind is what you essentially can hold in your hand if you feed your mind enough of the right stuff From there.
[00:13:03] The next thing after courses was coaches coaches And that’s when I started realizing one of the best things that I’ve ever realized and still to this day, which I think is a secret. Um, I often say to people, it’s the secret and often people think, well, you’re only saying that because you know, this is what you do.
[00:13:25] But the reason I do what I do is because I know how valuable it is to the right people. Right. And this is, I started getting coaching. And for me, the secret is. If you want to achieve anything in your life, absolutely anything. If you want to be a millionaire, if you want to make masses of money, um, if you want to have a great relationship, it doesn’t matter what you want to do.
[00:13:45] Whatever you want to do, all you have to do is you have to find somebody that’s already done it and you have to get them to transfer their knowledge to you. They have to transfer their knowledge, they have to transfer their skill sets, they have to transfer their beliefs, they have to transfer their attitude, um, they have to transfer their frameworks for doing it all to you.
[00:14:07] And if you can get that all transferred and you can then start to apply and use those things. Then you can replicate the results very quickly. And, and, and if you do get those things, that was what happened to me next. Every time I wanted to do something I didn’t know how to do, I found someone that didn’t know how to do it and I got them to transfer that information to me.
[00:14:24] Sometimes I paid them. Sometimes I helped them. Sometimes I gave them value. Sometimes I gave them time. Sometimes I gave them money. Sometimes I hang out with them. I promoted them. Anything it took to get somebody to give me the info that I needed. I did to get that info that I use that info to apply to my own interests, uh, roles, businesses to help them grow.
[00:14:51] And that for me is, is, is the one thing that most people don’t do. People don’t get the transference of knowledge and if you don’t get the transference of knowledge, um, invariably you’re, you’re going to do everything the hard way because there’s going to be trial and error and you’re going to be figuring out yourself.
[00:15:06] So let me wrap this up. If there’s someone watching and they. there at the beginning. What do they need to do to take themselves from where they are to becoming a millionaire? If that’s what they want to be, um, or to becoming wealthy or financial freedom, whatever it is. First thing they need. Number one is they need to get specialized information.
[00:15:28] Whatever the goal is, you have to find somebody. that has done that goal. And ideally they’ve not just done it, they’ve done it more than once. And ideally not only have they done it more than once, they’ve helped other people do it. So they’ve done it again and again and again, and you need to get them to transfer that specialized information to you.
[00:15:51] So there’s a transfer of specialized information. If you have no money, You maybe work for them. If you have no money, you spend time with them. If you have no money, because people go, Oh, I don’t have the money to pay a coach or whatever. You see how you can add value to them. You do what you can in the end of the day, you always pay, always pay in life.
[00:16:12] You always pay, but you either pay with money or you pay with time. That’s basically the two currencies. It’s faster to pay with money because then we can save a lot of time.
[00:16:23] Steve: So
[00:16:24] Adam Stott: that’s kind of mentality. But first of all, specialized information. When you get that specialized information, this is the big problem.
[00:16:30] The big problem is is some people go and get the specialized information And then they do nothing with it. And if you do nothing you get nothing and I think we have to acknowledge that So when you get that specialized information, you have to take a massive action, which is the next step You have to take action.
[00:16:49] What you also have to do is you have to do it Even if you are not 100 confident, it’s going to work even if you Don’t like part of the plan or there’s something that you’re rubbing up against. Remember you got the plan from somebody that already done it, so just do it anyway. So specialized information, take action.
[00:17:09] Number three is be persistent. Just keep going again and again and again and again. Be relentless. Don’t allow, don’t allow yourself to quit before the magic happens. So you just keep going, keep going, keep going. And then finally, is you’ve got to get yourself in environments that will allow you to flourish rather than suppress you.
[00:17:31] So you have to take yourself out of any environments that could stop you from winning and get yourselves into the environments that will help you win. So that means changing your network, changing your circle, changing the people you’re around. If that means not listening to your best mate that drags you down and tells you you can’t do it, and instead you make friends with some other people that are going to lift you up, you’ve You can still talk to your old best mate, but you just don’t let them put you down.
[00:17:52] So you got to change the environment. Now, if you do those four things, specialize information, take action, be persistent, and you get the right environment, you will surely win. And that’s what I would say in terms of cultivating the mindset. Awesome. Thank you very much. Good stuff. Well, look, um, hopefully I think that wraps up, uh, wraps up a nice.
[00:18:10] short, sharp episode there. Hopefully you’ve got some massive value out of that. What I would say to you is in the comments, tell us of those four that I’ve just said, are you getting the specialized information? Are you actually going out and seeking that information and finding ways to get it? You know, you can tell me in the comments, whether you are or not, are you taking enough action?
[00:18:33] Cause this is usually something where people fall short. You know, are you taking massive action? Thirdly, Has persistence let you down in the, in the past, or are you going all in? Are you doing whatever it takes to succeed? And finally, have you got that environment around you? Hang out at five millionaires, you are gonna be the sixth.
[00:18:52] Hang out with five people that are struggling. You are gonna be the sixth. So are you collecting and building your circle in a positive way? Love to hear about it in the comments. Um, or, and remember. Share this episode with somebody who gets some value out of it. Maybe there’s someone you know that needs a lift, that needs a push.
[00:19:07] Um, and you can go and share this episode. Just go and hit the three dots, share it across and hope you enjoyed today’s episode of business growth secrets.