Millionaire Mindset: Motivation and Time

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Entrepreneurs need to have vision. They need to have a dream and use their vision to inspire others to achieve it.



"You'll only make it to the top if your workforce is behind you," says 39-year-old Alan Russell, whose 3-year-old West Country caravan park group is currently turning over £20 million. "And that means motivation."

When 1,000 businesses were asked what were the top three motivators, bosses chose wages, job security and opportunities for promotion. But employees felt very differently. Almost unanimously, they said that their strongest motivation was appreciation, understanding and a feeling of being involved in what was happening in the company.

Money came fourth in their priorities - and it was usually seen as being a reward for doing a good job. It was recognition they wanted more than money. Here's what you'll need to be a top motivator:

• Good leadership. "To be highly motivated, workers need to be led from the front," says business psychologist John Weaver of consultants Packard/Case.
• Doing the right thing - even when its not the easy option. "Integrity is a quality that workers recognise and value," says Weaver. "They will make great efforts - and sacrifices - to be associated with someone who is willing to stand up for what is right."

Regard Time As Money

On the path to becoming a self-made millionaire focus on the things that need to be done, no matter how bad they seem - do not procrastinate. Make the most of the time available each day by getting organised and getting on with the jobs that need to be done.

For instance, a recent study commissioned by the London School of Economics apparently showed that the majority of us are often unwittingly doing the wrong work at the wrong time.

In most cases, our morning and evening work rate can be nearly double that of the afternoon, and yet the afternoon is when we invariably do our most demanding tasks. In one series of tests, the rearrangement of daily schedules transformed volunteers' time/work output.

In one case, a department manager who transferred demanding work to a morning slot found that not only did his productivity rise, but he was able to leave the office at least half an hour earlier.

Richard Thompson, who at 28 sold his computer business for £10 million and has since added a further £6 million to his personal fortune, looks at time management in the following way: "I look at every appointment and ask, 'Does that generate revenue?' If it doesn't, I put it to the end of the day."