I was inspired for this article while reading Keith Cameron Smith’s book The 10 Distinctions Between Millionaires and the Middle Class. The book met my expectations so well that I could almost have written the book. I took some of his ideas and mixed them with my own to create this short article on how to become a millionaire.
1. Millionaires think long-term. I’ve long believed that the difference between successful people and unsuccessful people has to do with the ability for delayed gratification. If you think of the people in society who are respected and successful – they often have high education, which means they have delayed making money and worked hard; they delayed gratification. This also applies to great athletes or Olympians who train for hours and practice their craft instead of sitting in front of the TV.
2. Embrace change. We all wish for the good old days, but the fact of the matter is that the good old days will never happen again. Change is an opportunity. Accept it, prepare for it, study for it and you will thrive.
It’s not survival of the fittest, it’s survival of the fittest and our world is changing rapidly, the more we can adapt the better we can do it.
3. Be a constant learner. I’ve even gone as far as not having a TV. I read instead, I think it feeds my spirit more. I believe in being a constant learner, I ask myself every day before bed “What did I learn today?”.
I also choose subjects I want to know more about and study them. That’s the habit of millionaires.
4. Ask empowering questions. In most cases, empowering questions are like. How can I do this or how can I do that as opposed to why? Asking why often gives you the reason and it reinforces an unsuccessful loop.
Asking a big how question also inspires greater action than a small how question. How to Increase Sales by 6% comes back with almost no change if you do things the same way. How to increase sales by 50% creates a change that requires you to do something fundamentally different.
5. Be frugal. Now I don’t mean cheap – I mean frugal. Thrift is about getting value for money, so I’m often willing to pay a higher price if I feel the value I’m getting is better.
6. Start now. I have found that life is much easier for me because I started hard and worked hard from a young age. This created a momentum effect that has now made my life much easier.
7. Be thankful. I firmly believe in an attitude of gratitude. I know I lead an enchanting life and I appreciate everything in life.
8. Giving. Not being generous with time and money creates lack of abundance and fear of limited resources. Being generous produces the opposite effect.
For myself, time is the hardest as I’m a time management guy and my time is so valuable.
9. Study time management. I firmly believe that most of my success has to do with making good use of my time, which largely consists of having the right goals, knowing what needs to be done, and then prioritizing.
Although the title of this article is How to Become a Millionaire and many people aspire to it, money in itself is an empty goal. Money is a by-product of doing something I love and fully immersing myself in it.
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