“I’m already a millionaire because I’m a millionaire in my mind!” said the guy on Instagram.

Try doing this: Go into a Ferrari dealership and tell them you want to purchase a $100,000 car. When they inquire about payment, tell them:

“I’m a millionaire in my mind!”

I don’t like to be pessimist but you probably will not be driving home in a new car.

Some people seem to think that the Jedi Mind Trick is real. If you simply project the idea of being a millionaire then it is actually true and you have a million dollars to spend. However, you cannot create your own reality with your mind; that is what people suffering from mental illness do. You are not a millionaire if you are only a millionaire in your mind; you actually need to have a million dollars.

· Having a positive mindset is great but it is not a plan.

I get the concept, the power of positive thinking and all of that. And I find a lot of merit in that philosophy. If you want to succeed at something you must see yourself as worthy of success. Envisioning yourself as that successful person is a valuable exercise. But you must also be realistic about what it will take to get you to your goal. You must also be willing to fail and see that it is not the end of the world. You must also be aware of the fact that nothing is a given; success does not come to all those who work hard. Not everyone makes the team or lands the job or becomes the head of the company. Sometimes it is necessary to adjust our goals. Reality is what it is.

· Don’t just talk about a plan with friends. Sit down and write out your plan with details and timelines.

Some people cannot handle that reality; they cannot handle failure; they do not embrace the idea of learning and trying again, making the necessary changes in tactics or strategy. They run up against obstacles and do not have the mindset that says, “Okay, this is a problem but let me see what we can do about it. How do I deal with this issue? What adjustments do I make?” Some people have an “all or nothing” mentality and cannot see the value (I would say the necessity) of failing and learning and being open to new approaches and new ways of thinking. But failing, persevering, and learning to adapt is the only way to be successful.

· Be open to making changes to put that plan into action. You will almost definitely need to make adjustments.

When my friend Eric opened a pizza place he found that he had difficulty in getting people to try new items on the menu, things they didn’t recognize. (I have always found it interesting that people are so reluctant to try new food items but we do tend to be creatures of habit.) So he started including free samples of these items with peoples’ regular orders. Lo and behold, people found they liked the items and he started selling more of them! Eric is a good businessman and realized that he had to be adaptable, think outside of the box.

He is also not afraid of failure.

· If it is worth doing it will involve risk. That might be financial risk or the risk making a fool out of yourself or both. Some can face that and some can’t.

Many people are so afraid of failure that they never even take the first step. They are afraid of responsibility and do not want to take the blame when a project is not successful. However, if you want to be successful you have to be willing to take the blame for failure as well as the credit for success. There really is no reward without the risk.

· Balance listening to others with having the confidence to listen to yourself.

I am not a financial expert but becoming a millionaire is rather more complicated than having a mindset. I’m not going to get into value judgements on whether becoming a millionaire is a worthy goal but what the “Mindset” people on social media tend to leave out is all the hard work that goes into success. There are so many stories about the work that successful people do to become successful, things you will never see on Instagram. Michael Jordan shooting hundreds of free throws; Bill Gates coding for days on end; JK Rowling being rejected by sixteen publishers and on and on. Everyone knows these stories but people still look for the easy way to success, whether that is being a millionaire or an actor or whatever the goal maybe.

Looking at what successful people have done is helpful but remember that there is no formula; at some point you have to trust your instincts wherever it may lead. Having a plan and working hard seem to be key ingredients as well.