Can teachers ever become millionaires? Aside from winning an award or grant, I mean real millionaires.
That’s me wondering, “how can I be a millionaire.” – when I was a classroom teacher.
Point out to two millionaire teachers and I will drop my pen. And stop writing about this topic.
The teaching profession is incredible. Sadly, many teachers live from paycheck to paycheck, struggling to make ends meet.
Even some are clouded by the unimaginable belief that the reward for teaching lies in the afterlife.
As other education stakeholders build wealth off the group doing the most difficult jobs of teaching and still rubbing the negatives of disrespect and devaluing on them.
Teachers feel they can only, if it eventually happens, be millionaires if they exit the teaching profession.
And yes – I agree.
With the right mindset, you can start and hit your millionaire destination while still in the classroom – who knows?
It only begins with the right mindset.
In this post, I will show you how to develop a money-making mindset as a teacher.
Before we dive right in, ask me why do this matters for you?
Why Does The Money-making Mindset Matter?
Simple. Teachers’ expenditure keeps towering their earnings.
Despite the fact that the profession has a high job meaning, many teachers wallow in the almost poverty level as their income doesn’t offset the inflating bills that keep rolling in.
Even in developed countries like the US, a teacher had to work 3 jobs and donate blood plasma to pay her bills.
Do you have impulsive spending habits or you’re always clinging to debt?
I understand that life sometimes forces you to spend money on things you don’t actually need? And online marketers aren’t taking it likely with you offering those mouth dripping value dressed on black Friday holds.
If you make far more than enough, those little impulsive spending shouldn’t kill, but no, you don’t make that much money. At least not now.
So to attain that level where you can buy what you want, you need to start thinking about making that money now.
Develop A Money-Making Mindset
- Set Clear Goals
I understand this might be difficult for you as a teacher.
Goal setting is one of the key characters you teach your students.
It might be difficult for you to pull if being in the classroom is not really your career plan. The economy forced you into it, right? – Yeah, I was like that too.
My journey stretched from being a classroom teacher to a marketer, a researcher, a computer analyst – and finally to this point; an edtech professional.
The journey was long because I wanted to be many things.
But with discipline. I made a sharp turn and stuck to it.
You should do the same.
Set ONE clear goal, fast. And aim to achieve it with extra focus.
It will be difficult to achieve your dreams if you set so many goals. Don’t aim to be more than one thing for now – just pick one, then strike hard.
Too many goals are distractive. Prioritize and narrow them down to one. This will make a lot of difference in your life.
- Read about successful millionaires
To be a millionaire, live the millionaire life – in your subconscious and your conscious state.
The best way to do this is to feed your mind through the reading of the stories of successful millionaires. Immerse yourself in their lives.
You’ll find stories of failures, successes, decision making, and risks taken by these people and you can apply their principles in your roadmap to negotiating your way to living a millionaire life.
- Bury your ego
You’re a teacher so I assume you know it’s fine not to know everything. No one is an island of knowledge.
Ask questions when you don’t know. Ask for help from anyone. Protecting your ego will likely lead you to unnecessary pretense.
Understand the concepts that lead to solving any particular problem and ensure you’re always learning.
- Develop an entrepreneurial mentality
The money-making mindset will compel you to build something instead of constantly consuming.
Don’t just consume. Create. That’s an awesome way to live.
Two great skills you should learn according to Naval:
- Learn to Build
- Learn to Sell
A consumer sees products and his only wish is to own, but an entrepreneur mindset looks at things and thinks deeply of how he can produce such a thing or something similar to it in his own industry.
- Be Realistic
You should erase those wishful thinking if you’re really serious about being a millionaire. Instead of daydreaming about ideas, think about how they will provide value to people.
A step further: Think about how you can better the experience to create such or similar value.
Be realistic. Take a look at things the way they truly and always analyze your steps and aim at making it better.
- Make opportunities
Begin to learn to turn every challenge into an opportunity. When you’re faced with a problem, the best way to deal with it is to solve it and look for ways to scale that solution for others.
When you see that potential in problems. You’re only a few steps away from being that millionaire. That’s what business strategies call “Sensing.”
The secret is to keep creating opportunities. You can never tell which will hand you the baton.
- Be Adaptable
One of the most important attitudes of a money-making mindset is the ability to adapt to changes around him and in the entire globe.
You limit your capabilities when you’re resistive to change. When you embrace that change, you’re likely to take a sharp turn to where success lies when you identify it.
- Make things better
Are you the type that constantly sees a better way to do things? Then you’re likely to be a millionaire. What you need next is the ability to take the risk and push to make those things better.
Surround yourself if experts in the tech field so that you can bounce ideas off them – and they can easily reveal the possibilities in many things you don’t think is possible.
And that’s it.
You can only develop this mindset by practicing it every time. If I were you, I would right the points on a napkin and ensure that I’m conscious of the facts in my day to day activities.
Over time, it will become a part of you, and you’ll be amazed at the opportunities you’d have seized in that process.