There has never been a greater time to become a self-made millionaire, and even a self-made multi-millionaire or a billionaire.
More than 80% of American millionaires are self-made, they earned it.
Despite the propaganda that millionaires are spoon-fed rich brats who inherited their money the reality and the facts dictate this is not the case for the majority of millionaires.
There are some commonalities among the 80% or more of self-made millionaires and the main thing is:
They work HARD!
Becoming a millionaire is not dictated by your lot in life, what family you were born into or what your environment was like growing up.
The ONE thing that creates more millionaires is a good strong work ethic and not being afraid to work long hours to reach your goals. Once you are in a position to delegate, this takes priority. Delegating the 80% of non- essential growth tasks is essential for expansion and growth.
The fact is most people will not become millionaires because they don’t want to work hard or smart enough to get there. They don’t want to make the sacrifices necessary to meet the kind of goals that one must set to make it to their first million.
And that is ok. It may not even be most people’s goal. More people have a dream of becoming a millionaire but rarely will they pursue this dream once they discover what it takes to make that dream come true.
It requires hard work and dedication, but it will be worth it in the end. The key is to focus on the long term rather than focusing on small, short-term wins. Set big goals and never forget them. Break those goals down into smaller ones that you can handle more easily, but keep your eyes on the prize. You will need to stay motivated throughout
There are some other habits self-made millionaires have instilled into their lives and schedules:
Starting with a big dream. They have a strong “why”.
This big dream carries them through tough times, obstacles, and failures.
Their big why is what they hang on to when they discover they are accosted by naysayers and dream-stealers. They learn to leave those parties early so they don’t become a crab in a pot of crabs.
They know how to visualize the life of their dreams. They imagine their goals already in existence.
Next, they get to work.
They don’t have time to sit on the couch and binge on Netflix movies. They don’t have time to watch brain depleting sit-coms or game shows unless of course, they are going to create the next best game show.
We are each given 24 hours in each day. We decide what we will use those 24 hours for. Many people go to work, go home, turn on their shows, eat while watching TV shows, and waste their lives away.
Or they get addicted to social media or video games. Now, if your goal is to become a millionaire playing video games, then go for it. There is still plenty of opportunity to become a video game millionaire on Twitch or YouTube but remember the work that is involved.
You will need to learn marketing, advertising, how to get and keep subscribers happy and a lot more… which accounts for more than just playing the video games.
They learn how to work smart. Working smart means you work on your business not in your business once you reach a point in your business where delegating and hiring becomes the next step.
No matter how much fun it appears, it is a lot of work. But if you want to become a millionaire video game player, you most certainly can reach your goal.
Self-Made Millionaires spend their time making their dreams come true.
The successful millionaires know that no man is an island. They also know that you become the five people you hang out with the most.
They hang out with successful people and they have mentors. They are humble enough to know what they don’t know. They choose guides. The guides help you on your journey to becoming a self-made millionaire.
They also know what to delegate and who to delegate it to.
Speaking of dreams….
Self- Made millionaires figure out a way to follow their passion. They seldom will choose a business or way to reach their goal when it is just about the money. They are change agents. They invent things that make our lives better. They create new ways to service and empower others.
Follow your passion. You will discover a way to make money doing what you love to do.
Millionaires use goal-setting and to-do lists to propel them to their goals and keep themselves grounded and on track.
If you don’t write it down, it is highly unlikely to get done.
Understanding how to delegate is an essential part of working in your zone of genius and in doing the things which are the highest and best use of your time.
Millionaires read.
And read….
… and read….
85% of self-made millionaires read two or more books each month.
They do not choose romantic novels or gossip columns.
Millionaires read books on the following topics:
- Biographies of successful people
- Self-help books
- Current events
- Career growth
- Leadership
- Psychology
- Economics
- How to grow to become their best selves
Choose your books from the above topics. Even if you don’t have any desire to become a millionaire, these topics will help you to grow.
Self-made millionaires stay up on financial trends, stock market prices, real estate markets and trends.
They stay up on the financial impact of politics and regulations.
Self-made millionaires find time to work out. They know they will get more done with an alert mind and healthy body. Many take yoga classes and learn to meditate.
Last but not least, they save money!
They keep a car longer than most people. They live in a smaller home longer. They save wherever they can. They don’t buy things that don’t help propel them towards their goals.
With consumer debt mounting and the instant gratification disease infecting society, I think this is the biggest obstacle outside of mindset holding people back from setting big goals and becoming a self- made millionaire.
When you can’t wait to have the next fancy car coming on the market and you are willing to go into debt for it, you are placing an obstacle in front of your dreams unless the only dream you have in life is to own that one car.
Imposter syndrome is ramped too. Buying a home a millionaire would be able to buy with your salary of $70,000 a year just because you can get in with a super low interest rate does not make for a good plan.
Getting addicted to spending is a sure-fire way to NOT make it to millionaire status in your lifetime.
This list of things that millionaires have in common on their path to earning their dream goals is not a long list, it is not an impossible list to follow, it doesn’t take a rocket scientist to implement this list.
It is well within your grasp to follow. As you can see from this list; there is no magic potion, no secret formula, no shiny genie to rub.
Make up your mind, and then get to your ‘smart’ work.
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