9 Disciplines of African-American Millionaires

Heads up Soldiers! February is not only the month of love celebrating Valentine’s Day, but it’s also Black History Month: a month of culture honoring important African American people and events. Best selling-author, Dr. Dennis P. Kimbro, studied the methodology of the famous American self-help author Napoleon Hill and developed a survey to use among peak performing African-Americans. In his book, The Wealth Choice: Success Secrets of Black Millionaires, he elaborates on the top common traits as well as the nine disciplines of black millionaires after a series of interviews. Let’s examine them.

Top Common Traits

Dr. Kimbro observed two dominant factors among today’s Black wealthy: 1) relentless commitment to lifelong learning and 2) tenacity of purpose. Kimbro describes the relationship between the two as “tightly crafted goals matched with the discipline to achieve them.”

Discipline is critical to financial success. It’s a fundamental part of stewardship. The Bible speaks of discipline this way in Hebrews 12:11: “For the moment all discipline seems painful rather than pleasant, but later it yields the peaceful fruit of righteousness to those who have been trained by it.” Dr. Kimbro went on to define the following nine disciplines of financially successful African-Americans as such:

  • Discipline #1: Be Passionate and Focus on Unique Strengths; Develop Clear, Delineated Goals
  • Discipline #2: Autonomous and Independent: Deep Need for Internal Control; Highly Motivated Self-Starter
  • Discipline #3: Industrious: Strong Work Ethic; Bias for Action
  • Discipline #4: Creativity and Innovation: Recognize the Powers of Ideas
  • Discipline #5: Never Consider the Possibility of Failure
  • Discipline #6: Inquisitive; Strong Desire to Know; Quick to Absorb and Apply New Information
  • Discipline #7: Strong Sale Skills: “Sell” Is Not a Four-Letter Word
  • Discipline #8: Savings: Thrifty and Frugal in Nature
  • Discipline #9: Spirituality: The Gospel of Wealth

Discipline #1: Be Passionate and Focus on Unique Strengths; Develop Clear, Delineated Goals

  • Black millionaires are relentless about working hard and pursuing their passion.

Discipline #2: Autonomous and Independent: Deep Need for Internal Control; Highly Motivated Self-Starters

  • Black millionaires know what they want, and are acutely focused on achieving their objectives.

Discipline #3: Industrious: Strong Work Ethic; Bias for Action

  • Black millionaires believe that sacrifice, grit, and toil produce character, integrity, and value.

Discipline #4: Creativity and Innovation: Recognize the Powers of Ideas

  • Black millionaires believe innovation creates the progress that moves society (business and people) forward.

Discipline #5: Never Consider the Possibility of Failure

  • Black millionaires have a willingness to face failure, rejection, and take risks.

Discipline #6: Inquisitive; Strong Desire to Know; Quick to Absorb and Apply New Information

  • Black millionaires read nearly two books per month. The genres: history, biographies, or money management.

Discipline #7: Strong Sale Skills: “Sell” Is Not a Four-Letter Word

  • Black millionaires embrace selling because sales = income.

Discipline #8: Savings: Thrifty and Frugal in Nature

  • Black millionaires believe thrift and savings are the first steps to prosperity and abundance.

Discipline #9: Spirituality: The Gospel of Wealth

  • Black millionaires draw inspiration from a close personal relationship with their Creator.

Soldiers, now that we’ve gone over Dr. Kimbro’s research, it’s time to put it into action. Which of the nine disciplines resonates most with you? Which ones do you need to work on? How do these Black millionaire disciplines compare with advice you’ve heard from millionaires in other cultures? Oorah!

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