Khin May Kyi (Psychology) - The mindset and success ideas of millionaire entrepreneurs

Perception and understanding

Why do you do business?

I want to make money.

This is a common answer. However, it is a false answer and creates a negative mindset for new entrepreneurs entering the business world. The mindset of doing business because you want to make money is one of the worst ways to approach the financial markets.

Making money is the goal, but how to make money and how to do business is the simplest way. The mindset of making money is very dangerous. Gradually, it leads to alienation from friends due to inhumane actions.

To get rich in a short time, you have to be greedy and look for shortcuts. This lesson presents the mindset you should have before starting a business.

A businessman is not in business just to make money. It shouldn't be just to make money. It should be to make money to get to where you want to be. That's your goal. So I'll ask the same question again.

"Why do you want to do business?"

"I want to take care of my family"

"How to keep it good?"

"I'll find the money and keep it."

This answer is also wrong. It is still based on making money. There are many ways to make money. For example, no one jumps from a height without knowing the depth of a swimming pool...

When it comes to making money, no one ventures into territory they are not familiar with. If a business is too risky, few people will take the risk.

I'll ask you another question.

"Why do you want to do business?"

"I want to take care of my family"

Imagination and success thoughts

“How do you do that?”

“I will learn how to do it.”

“What will you learn?”

Now, here's the thing. Learning to make money is not learning to do business. The two are very different. You have to know this. You have to think about who you're competing with and what factors will make you lose. If you don't think about it, your losses will become your competitors' profits.

If you want to get involved in the financial markets, you should start as a high school student around the age of 14-15. Only then, after another 6 years, you will have enough experience to be a business graduate.

• The rules of success

Whenever I meet successful entrepreneurs, I always wonder how they achieved their success. So I took a deep dive into the lives of world-renowned entrepreneurs and successful people. Their mindsets and visions are inspiring. Their insights are truly helpful in the workplace.

• Start boldly.

When asked how Stevenson, the US ambassador to the United Nations, managed to write speeches while still working in the office, he replied:

“There are two stages to every business. The first stage is to start, and the second stage is to continue. The hardest part is to start for the first time.”

Starting any business for the first time is like jumping into a parachute. You have to be brave. Being brave in starting any business is a big part of managing and mastering.

The hardest part of an essay is the first sentence. In any field, getting started is the most important thing.

• Have a role model.

In any endeavor, there is someone to look up to. At least, you will think that you can be like them. You should learn from the actions of your role model. This will also help you in part in your own success in business.

James Lin, who made millions of dollars from a small electrical business, told a reporter, “The first thing you do when you start a new business is to choose the best person in the industry to be your role model. Then, first, try to catch up with that person, and second, try to surpass that person. The better he is, the faster your operations will be.”

• Manage your time.

Time and money are equally valuable investments in a business. The best way to manage your time is to set a specific time frame for completing a task. How much work needs to be done per day, how much needs to be done per week, etc. If you set a goal, you will see that you will achieve a lot.

• Get rid of what you don't need.

Focus on the work you are doing. Don't waste time on unnecessary things. Focus only on completing your work within the allotted time. You will be distracted by unnecessary information and will end up with a confused result. Focusing on your work is a very effective force in politics, war, commerce, and social affairs.

• Finish the job.

Just as writing an essay requires a complete introduction, body, and conclusion, planting a tree has a time for germination, growth, and fruiting.

Work is just a livelihood for ordinary people. We have to direct this process to become productive. Therefore, we must not stop at the work process, but work until it becomes fruitful.