Getting rich and becoming a Millionaire is something most people want, but very few are willing to commit to doing the things necessary to proudly wear the title of the Millionaire.
I think history has proven that anyone, from any walk of life can become wealthy, and create a net worth of a Million Dollars or more if they decide to do it and have the discipline to do what it takes.
Success leaves clues. And if you look at any self-made Millionaire, you’ll see they all have specific habits that separate them from everybody else. How they think about money, success and business and what they do is radically different than the vast majority of the population.
Here Are 11 Habits All Self-Made Millionaire Entrepreneurs Have
Millionaire Habit #1. Have Big Money Goals
If you want to be a Millionaire you have to decide to become one. I haven’t met a single self-made Millionaire that became one by accident. Success is NOT an accident. You don’t just work hard and wake up with a big bank account.
To accumulate a Million Bucks you have to set goals and have plans for the creation of the money.
Millionaire Habit #2. Follow The Money
If you want to make a lot of money, you have to go in business where there is a lot of money. It’s great to do what you love, but you also need to find a niche where there is money.
The most successful entrepreneurs have the uncanny ability to start a business where there are big financial opportunities. They have the ability to “see around the corner” and predict where future opportunities lie ahead.
Millionaire Habit #3. Work Hard
Mark Cuban says – “The Best Equity Is Sweat Equity”. Self-made Millionaires aren’t afraid to roll up their sleeves and go to work. For a period of time, they work harder than anyone else they know. First ones to come in, last ones to leave.
Entrepreneur magazine rates this as the #1 habit of Millionaires. There is no such thing as “overnight success.” When you see a new company take off like crazy, there is usually a number of years of effort, unseen by others which is the foundation of their success.
There is a very successful supplement company, BioTrust, that did $100 MILLION in sales in their first year. One of the founders, Josh Bezoni, was interviewed about their amazing success and he said, “we are an overnight success after 20 years”. He’s been at it for 20 years, swinging the hammer, starting different businesses and failing a lot in the process.
Millionaire Habit #4. Learn How To Market And Sell
Every self-made Millionaire is a great sales-person. Have you ever met anyone who is successful in business that doesn’t know how to sell and promote their ideas?
Every single one does. It is the one skill that every Millionaire possesses. They’re great communicators of their ideas, and know how to sell them.
Fortunately, this is NOT something you’re born with. In fact, there are not very many “natural born” sales people that I know. It’s a skill that can be learned and mastered with some effort. If you can get excited about something, you can sell it.
Millionaire Habit #5. Leverage
Millionaires understand the importance of and know how to use leverage. There are only 24 hours in a day. And if you can learn how to leverage technology, resources and other people’s efforts, you can get a lot more done in a lot less time.
Millionaire Habit #6. They Know How To Motivate Themselves
Most people look for outside factors to motivate them. Successful people know how to motivate themselves and how to stay motivated.
Self-motivation is the only real kind of motivation there is. Top achievers are motivated by their goals, dreams and desires. They know how to drive themselves, and do what needs to get done in spite of how they feel.
Millionaire Habit #7. Not Afraid To Make Shots And Miss
Every single self-made Millionaire has taken a number of shots, and failed at many of them. But they’re not afraid to fail, and look at each one as a stepping stone. As a learning experience and the feedback they need to adjust the course, and keep going.
Wayne Gretzky said it best…
“You’ll miss 100% of the shots you don’t take.”
Have you developed the ability to take shots, miss, and keep shooting with the same enthusiasm and drive?
Millionaire Habit #8. Value Self-Education
Millionaires value and understand the importance of self-education. Reading books. Listening to audios. Attending seminars. Taking training classes. Always learning something. You can only get ahead if you become the BEST in your field.
First time I visited one of my mentor’s homes, I was pleasantly surprised to see a number of book shelves, jam-packed with books on sales, leadership, personal growth and business. I’ve since learned that every self-made Millionaire has a library like that. Studying success and successful people gives you the mental edge and the knowledge you need to move forward.
Just think… for a few bucks you can buy a book from someone who put 20 or 30 years of experience in a couple hundred pages. It’s there, available to anyone who wants to get it. Getting just one good tip or strategy from a book can trigger a new idea that can be worth MILLIONS to you.
Millionaire Habit #9. Hang Out With Successful People
You truly do become like the people you hang around with. Millionaires seek out people who they want to be like, and spend time with them. It can be through seminars or master mind groups, but they find a way to connect with others who are like them.
The road to successful entrepreneurship can be a lonely one. Most people in your life will NOT help get you there. Because most would just rather settle for a “normal” life. A good 9-5 job, with benefits and 2 week vacation. And you’re not going to be inspired and energized if you spend all your time with people like that. There’s nothing wrong with them. But if you want to become an Olympic champion, you don’t hang out at a local health club. You go train with the best.
And if you want to become a Millionaire, you get around the best people that can help you get there.
Millionaire Habit #10. Manage Your Energy
Managing time is a waste of effort. You can’t manage time. You can only manage what you do with the time you have.
Successful people are careful about what they put their time into. And manager their energy to make sure they get the maximum possible from the time and effort they put into an activity.
It’s very difficult to become a Millionaire, when you spend most of your time doing $10 an hour work. Invest your energy in doing the most productive tasks possible.
And take time to relax and rejuvenate so you don’t burn out. Like getting enough sleep, and even taking breaks in the middle of the day.
Millionaire Habit #11. Be An Action-Taker
This is where the rubber meets the road. Nothing will get done until you take action.
For many, “ready, fire, aim” is their motto. Taking imperfect action on their ideas, is much better than planning everything and trying to make it perfect, without ever taking the first step.
And also staying disciplined and consistent until the job gets done.
Develop these 11 habits and you’ll be well on your way to becoming a Millionaire.
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