7 ways to become a millionaire

Only 20% of millionaires have inherited their wealth. 80% have made it on their own and are first generation millionaires.

I firmly believe that anyone can become a millionaire if they follow a formula that I am going to share.
Yes, you, I am talking about you, even you can become a millionaire if you follow these 7 steps:

1.) Millionaires Mindset –

Mindset is frame of mind or you can say a direction in which your mind is set , your mindset determines your destiny.
In order to become wealthy in financial terms, the very first step is to unlearn everything about money that you have learned so far in your life.

If you are brought up by the mindset that you only need enough to be comfortable then you need to eliminate it right now because the middle-class concept is based on myths and formulas that worked for our parents.
As once said by Adam Corolla on his podcasts,”50 years ago the middle class was a desirable group to aspire to, today, it is just a risky, painful, economic condition fairly for millions of people”.

After unlearning, focus on developing millionaire’s mindset.

9 hidden psychology of millionaires :

1. Develop a habit of success.
2. Believe in wealth making.
3. Don’t allow anyone to tell you that what you are dreaming is not possible.
4. Start thinking like a game changer.
5. Populate your mind with best books.
6. Be the most confident working in the room.
7. Stand on the shoulder of other giants i.e. learn from them.
8. Have absolute clarity of what you are doing and why.
9. Have a burning desire.

Though adopting this mindset will not happen overnight but constant reflection leads to change in the belief which eventually change your mindset.

2.) Ideas

Once your mind is set in the right path and you are mentally prepared to achieve financial success in your life, you got to transform your thinking into gold and that can only be done by pondering over a pragmatic idea, designing a plan and doing some maths.
While choosing an idea you have to focus on nine points as mention by Dan Norris in his book 7-day startup

1. You should enjoy doing it daily. If you don’t enjoy working on your idea, someone who does will beat you.

2. Choose an idea where you have basic knowledge and skills so that you can work on it.

3. Scalable business model – your idea must be scalable, something that you can expand to any extent.

4. Operate without founder – your idea must be such that after reaching a certain level it can operate without you(founder).

5. Build an asset – the idea should be such that using it you can build some sort of asset that you can sell later.

6. Market potential – make sure there is a need for such a product in the market.

7. Top pain pleasure – In order to differentiate yourself from others you have to lessen the pain of your customer and give them pleasure.

8. Unique lead Generation – grab the attention of people by making your idea different and unique.

9. Launch quickly – the idea that can be launched quickly and modified quickly according to the customers.

3.) Have a thick skin

You gotta be hard as a nail to become a millionaire because it will be in a process of suffering, failure, pain and agony. You may lose everything but no matter what come just go right through it. Only strong mind can take you through pressure, stress and adversity because it’s going to be hard, you going to fail, stumble, you going to fall on your face.

 Ability to persist when times are tough and refusal to quit when others give in are few traits of millionaire that you have to learn .

“Strong mind suffers without complaining, weak mind complains without suffering”

4.) Energy management

I am not even mentioning Time management as this is an obvious one and you cannot reach any where if you will not learn to manage your time.

Time management will not alone serve the purpose, you also got to manage your energy because if you are not doing your work with full energy and focus then you are not utilizing your time in a most effective way.
Most people quit after 2-3 years of going all in, most people don’t go for a long time so energy management is important for you to keep going. Figure out how to manage your energy so that you can stick long enough.

5.) Master millionaire’s skillset

You need skills to pay the bills. Millionaire possesses dozen of skills to become the people they are. The difference between who you are and the person you want to be is your skills. If you want to become millionaire then you have to master these 7 skills –

1.Communication skills-

Your communication skills play a huge role in your financial success as your communication skills determine your relations and your relations determine your wealth. Extraordinary communication skills can create a path to riches.

2.Networking skills –

Networking creates a long and lasting relationship with others. You can leverage each other’s knowledge and contacts for personal gain.
Your network is your net worth.
Those who have solid circles around them can easily rely on them and rest don’t have this luxury. So work on your networking skills if you have lofty goals.

3.Leadership skills –

You need to gain influence over the people that need to take actions. Leadership allows you to do more in less time. In World full of followers be a leader.

4.Money game –

You have to master the money game if you want to be a millionaire. Almost everyone knows how to earn money but very few know how to keep and expend money.

5.Learning skills-

If you want to be a millionaire you have to master to the art of learning, Unlearning and relearning

6.Persuasion –

Persuasion skills will take you far because you have to pursue your parents, partners, clients, employees. So this is a must have skill for a millionaire.

7.Problem-solving skills-

The journey to your 1st million dollar will be filled with insane number of problems and you have to deal with all those situations like a pro if you really want to make your fortune.

6.) Work ethics –

“There is nothing you can’t accomplish in life with the right amount of work. The challenge is are you willing to do the work.”

If you want to be a millionaire you must have an insane work ethic. You have to work overtime, you have to work all the time. Everyone tries but millionaire takes it to the next level, they sacrifice and they are relentless with their practice.
Well said by Robin Sharma –

” Reality is reading a book, going to a conference or having a great conversation where you get this golden information, that’s all is fantastic but what makes you mastery is execution on ideas and not the ideas.”

7. ) Scalability –

After following all the points mentioned above you will be able to create a business with decent revenue you have made halfway across the path of reaching 1 million dollars but this is not enough because there must be many businesses around you that have reached the level where they generate the revenue of 100k dollar per year but very few reach to the level of 1 million dollars a year because of just one factor i.e. scalability.
Reaching from  $100k to $1million can seems to be a 10X scale but it requires more than 10 times the skills.
It’s not harder to scale, it just requires more skills. Probably 30 times more skills. Majority of people fail to acquire more skills and as a result, they never reach $1million benchmark.
What you have to do is to focus on training, you got to commit to train because scalability comes from skills and skills comes from training. A good place to start your training is to read more. As Harry S. Truman said,

“Not all readers are leaders but all leaders are readers.”

There are many ways to train yourself like –

•attending conferences, networking events and training sessions.

•listing to podcasts, YouTube videos and audiobooks.

•pay to mentors and consultants.

•buy paid courses.

               Scaling comes naturally if you will absorb all the information present out there. People think scaling is very hard but no, scaling is the repercussion of having trained correctly. Training brings skills and skills to bring scale effortlessly.

11 reasons why you can never become great

 

 

Average” is a word we all can relate to. Average means standard or level that is considered to be typical or usual. You were average in school, you are average in the workplace, everything you do is average, not because you are born like that but because you were taught to be average by society. You were in an average environment so you decided to go against your basic nature i.e. being great. Here are reasons which are stopping you from reaching the height of greatness:

1. You don’t want to be great.

The human mind works on the principle of survival and not on that of performing and achieving. This is the reason people seek safety and security and not greatness. Moreover, since our childhood, we were taught to follow a path designed by society i.e. go to school, get good grades, get into a college, get a decent job, get married and have kids(and teach them to follow the same path).

In order to become great, you have to think big because a “man is what he thinks all day.”

People fall in the temptation of security and become a part of the rat race which in turn prevents them from achieving greatness.

2.  You don’t have a purpose in your life:

“Great spirits have always encountered violent opposition from the mediocre mind.”
-Albert Einstein

Most of the people around lack purpose. They are just running after materialistic gain. They don’t want to add any value to this world.
The single most important principle you can do apply in your lives is to try to define what your purpose is because most people they go to their graves with their greatness still in them as they fail to discover their purpose. So don’t be one of them as it is your purpose that light the fire in you.

If you are just running after money and momentary pleasure. I am sorry to say that you can never be successful.

3. If you care what other people say.

  “Everything in life is easier when you don’t concern yourself with what everyone else is doing”

In order to achieve greatness, you have to walk on the path that is not visible though everyone around you will call you stupid and aberrant. As they are aware of only one pragmatic path to success and i.e. by getting a degree and every other path to them is like a gamble.

So, if you really care about your image and what people are talking about you, you will never be able to create a life that is meant for you. Hence, you will never achieve greatness.

4. If you believe in showing off:

“Boasting and gloating confirm that you need an appreciation of others.”

We are living in an era where everyone is busy showing off their lifestyle, talent, power, etc.

If you are also the part of this game then this mindset can never lead you to greatness. As great people have a great mind and great minds are involved in providing real value to the world. Well said by Bruce Lee:

“Showing off is the fool’s idea of glory.”

5. If you make frequent excuses and complains:

“Create a way, not an excuse.”

When people don’t get what they want they start making excuses, blame game like how unlucky they were or how their business partner cheated on them. If you focus more on why you cannot do it than how you can do it if you think of what you lack than what you have then you can never be great.Because you can either make excuses or create history.

6. You talk about people not about ideas:

“Great mind discuss ideas,
Average mind discuss events,
Small mind discusses people.”

Majority of the population is busy in back bitching, judging and mocking other. The inane quality of pinpointing other mistakes is making our mind negative. Because of this negativity in our mind, we tend to see the negative side in every situation. This makes people pessimist. One can never achieve greatness by negative outlook.

7. You spend most of your time with average people:

“You are the average of those 5 people you spend you most of the time with.”

People tend to acclimate themselves to the people with whom they spend most of the time.

If you surround yourself with unproductive people. It will be harder for you to make productive choices in life.

8. You do not work on yourself:

“Life improvement begins with self-improvement.”

In order to become great you have to become the best version of yourself and continuously work on yourself. Well said by Jim Rohn:

“Those who seek a better life must first become a better person.”

So if you are not improving yourself by reading books, listening podcasts, joining courses or attending training and seminars then it will be really hard for you to reach the height of greatness.

9. You do not take a risk:

“If you are not willing to risk the unusual, you will have to settle for the ordinary.”

Study shows wealthy and successful people have taken way more risks than an average person.

Taking risks creates a whole new set of opportunities for the future. You may unlock the doors that you hadn’t even considered. If you are someone who often allows fear to paralyze you and you are too conscious of taking wrong choices then you will never able to be among the top.

10. You don’t value time

“Ordinary people think merely of spending their time. Great people think of using it”

When you utilize the time correctly is contains the ingredients of success to growth, prosperity and all the things you want but at the very same time if neglected it leaves us with very little. Every morning you woke up, you are living seconds you can never get back.
Time is free but priceless, once gone you can never get back. Daily you get 86400 seconds and at the end of the night its all gone whether you use it or not. If you are someone who has the audacity to waste their time on bootless things then probably you will never able to make it to the top.

11. If you don’t know how to handle failure

“Failure is simply the opportunity to begin again, this time more intelligently.”
– Henry Ford

Every great thing on this planet is here because the creator learned what DID work but learned more from what DID NOT work.

If failure was the end of the story there would be no greats.
Greats like Jordan.
Greats like Einstein.
Greats like Henry Ford.
Greats like Edison.

If these people stopped with failure the world would not be filled with their greatness as it is today. The difference between those who win , those who lose in life is the winner decides a better meaning for their failure. If you don’t see failure as motivation then you can never become great.

Conclusion:

Most of the people have done all they are going to do, they raise a family, earn a living and then they die but people who are running behind their dream life has special kind meaning. I want to share with you that in the process of chasing your dreams you going to face lots of challenge a lot of failures, a lot of pain, a lot of setbacks and a lot of defects but in the process of doing that you will discover something about yourself that you don’t know right now,what you realize that you have greatness within you what you realize that you are more powerful then you can ever imagined. What you will realize is you are greater than your circumstances and that you don’t have to go through life as a victim.

Comment down what is stopping you from becoming great ?

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