Table of Contents
10. Develop your skills / get educated
Never stop learning in your life time. Successful entrepreneurs and millionaires have a lot of knowledge and knowledge is power. You need to know what’s happening and what’s going on in your company.
The more you know the more you’ll be able to see new possibilities and opportunities, accessing new ideas and ways of growing themselves and their businesses. As their businesses grow over time the leader needs to grow as well.
Life has taught them that you are either growing or dying and that continued learning is the only real competitive advantage in today’s fast moving business world.
The goals they set usually require skills they don’t have yet. That’s what setting goals is all about, to step outside of your comfort zone and achieve something you’ve never done before.
9. Surround yourself with like minded individuals
“You are who your friends are”
Self-made millionaires learned that they need to hang with the people they want to become. Hanging around with others with the same mindset, passion and drive gives you constant motivation, ideas, and many opportunities others don’t get.
You keep each other motivated and push one and another to take that big leap for that next big step to launch new businesses and ventures.
Stop hanging out with lazy and unmotivated people and start looking for a group of pro-active, ambitious and hard-working people to get inspired by and exchange ideas and experiences with.
8. Stop spending and start investing
The rich don’t spend all their money, even though they can. They stay rich by investing their money in order to make even more money in the long run. There’s no glass ceiling in how much you should or can earn. Keep going for more and keep setting your goals higher and higher.
When you make money, your first thought should be, “How can I invest this money to make more?” instead of “What fancy thing should I buy today?” Of course you can treat yourself once in a while but that shouldn’t be your main goal.
You should be aiming towards making more money from the money you already have.
We’ve all heard of those celebrities and even lottery winners going bankrupt after a few years of becoming rich. It’s not that they’re spending money, it’s because they aren’t spending it wisely in order to generate more cash flow and revenue. All goes out, and nothing comes in.
7. Don’t rely on one source of income
So you’ve successfully managed to build and grow your core business out. But don’t solely rely on this source of income/revenue. Great entrepreneurs often have a hand in all sorts of various businesses that sometimes have little or nothing to do with their core business.
By educating yourself and networking with different entrepreneurs you can often find other ventures to invest in and create additional revenue streams for yourself. No one can predict the future and know what will happen in business. It’s better to have a safety net in the form of other investments to make sure you can keep head above water in case something does happen to your main business.
Besides, once you’ve achieved your goals in your first business, you should set new goals for yourself in order to keep growing, interpersonally. That’s what makes entrepreneurs into millionaires.
6. Learn from your failures
Rome wasn’t build in one day and the same goes with businesses and millionaires. We all had to start somewhere and especially as a self-made millionaires you often start at the bottom and work your way up in the world.
Many successful millionaires have recollections of their first business and how they failed so horribly it made them almost want to quit. But it’s this experience that helped them build the business empire they have today.
You have to learn from your mistakes and each time you fail, you just have to get back up and improve yourself and come back with a better approach.
5. Work hard and spend your time wisely
This one goes without much saying. Work hard. Work like you’ve never worked before and be passionate and motivated about it. But working hard doesn’t necessarily mean working a lot and long hours. Eventhough in some cases that could be true, especially when you first start your company.
Working smart is much more productive than only working long hours. You’ve got to spend your time efficiently and wisely in order to build your company and allowing it to grow.
4. Think big and aim high
Dream BIG…after all you get what you ask for in this Universe. Get out of your comfort zone and don’t set goals for yourself that you know are “easy” to achieve. Try to push yourself to achieve something that’s greater than anything you’ve ever done and trust me, you’ll learn a lot more along the way.
3. Let go of your fears
We all have fears and insecurities. Fear of failing, fear of social pressure, fear of financial instability. But you need to learn to let go of that fear and trust your gut feeling and go for it. In gambling you need to bet big to win big, but if you carefully plan out your business, you can limit the risks and reap the award in the end.
Don’t let your negative thoughts overtake you, all the self-made millionaires have once made a decision that would change their lives. Afterall, that what we’re all aiming for as isn’t it? We want to make an impact on this world and to do that, we need to get out our comfort zone and take that leap of faith.
2. Have an unwavering mindset to achieve your goals
When you start your first business there we be a lot of roadblocks. As a successful entrepreneur it’s your task to see to it that you don’t let these issues discourage you. Even when people around you say it’s time to give up or it’s impossible, you need to be stubborn enough to keep going and turn it into a success.
See it through till the end and it will surely pay off. Even if it’s not this business, but any time you passionately invest in your time into something you love and believe in can’t be called a wasted time.
1. Be passionate
This one is simple: be passionate in everything you do. If you love what you do, then you’ll automatically pour all your heart, blood, sweat and tears into it. Have the unwavering motivation to achieve the goals you’ve set for yourself.
Having the passion and energetic approach is very contagious as well. You’ll need to convince investors, employees and people around you that the business will be a success. And you don’t need to convince them with speeches or words, but you can show it in your work ethic and excitement.
