There now that I have your attention! With this catchy title and this Conor Mcgregor picture, you'll know what 90% of this article is about! Let's face it you're here on Steemit because you want to get rich and make money. I get it. We all want to get there. This platform is very entrepreneurial, but let's study the people that actually did it and their habits...
Option 1 - Become A Pro Athlete
Option 2 - Become a Movie Star
Option 3 - Win the Lottery
Option 4 - Be Broke Your Whole Life...
Just kidding guys...we know only .001% of people end up in categories 1-3. Does that mean you should give up? Contrary to popular belief, it is actually attainable for anyone through hard work to become a millionaire. There are 11 million millionaires in the United States. So good news you don't have to choose Option 4 ;)
I’ve studied American billionaires like Jeff Bezos, Bill Gates, Donald Trump, and Mark Cuban. They all have very similar bits of advice that I have compiled and worded in my own terms. In addition to them, I plan on writing my own experience and my experience with some older millionaire friends and family members I know.
1. Become an Entrepreneur > Employee
Most self-made millionaires develop their wealth through owning their own business or forming a business with other partners. It’s hard to get rich being a millionaire as an employee. Your greatest asset is your time – and as an employee you have a fixed amount of time. You sell your time to employer for a fixed price, and guess what – employers never pay you what you’re truly worth.
Let me give you an example of a millionaire and a non-millionaire I know in the same line of business – consulting. Let’s name them Consultant A and Consultant B. Consultant A has a list of clients he works with and knows how to offer solutions to all the companies he works with. Consultant A gets paid $90/hour by the client, instead of working on the client's project he hires another consultant and pays the consultant $60/hour to do it. Consultant A pockets the difference - $30/hour. He has multiple consultants working for him on several different clients. Consultant B is just as knowledgeable as consultant A, but spends all his time on one client and makes $90/hour. Can you guess which one is a millionaire? Yeah you guessed it – Consultant A – and he doesn’t even work as much! He uses his brain and strategy and chooses what to do with his time. Hopefully this example can give you guys some ideas.
2. Become Insanely Passionate
Entrepreneurs and successful people pursue fields that interest them. If you don’t have passion in a field you are working in, and you are just doing it for the money, you will likely quit. From all of the stories I have read of entrepreneurs they didn’t make anything their first 1-3 years in business. If it weren’t for their passion, they wouldn’t persevere through the hard times. Personally for me I like blogging, working out/fitness, and my finance job (will soon outsource). If it weren’t for my passion for all three, I would likely quit if I encountered obstacles. The fact that I love what I do constantly pushes me through the ups and downs!
3. Find A Millionaire Mentor
I have many millionaire friends that I have interacted with. I noticed something in common with all of them. All but one of them had a millionaire mentor. Millionaire mentors help to keep you accountable on your road to riches, but also they give you specific guidance relevant to your situation. My uncle is my personal millionaire mentor, he has been invaluable to me. I attribute a lot of my financial success to him thus far. If you can’t get a millionaire mentor, then consume as many auto-biographies of millionaires as you can. I recommend Think and Grow Rich! by Napoleon Hill
Surround yourself with a millionaire mentor and other people who aspire to be so. You're the average of the five people you hang most around. If you hang around five millionaires, you'll be the 6th.
4. Read Every Day
According to Fastcompany.com, “85% of millionaires read at least 2 books or a month. “ You need to be reading biographies of self-made millionaires, so that you can gain insight into their brains and ideas. Read self-help articles like this from time to time to also motivate and inform you. Also, if you are pursuing success in a particular industry - you will want to read as much as you can in that field to gain industry knowledge. By reading you are getting a great workout for your brain, you want to be as sharp and creative as you can be at all times.
5. Spending and Investing Habits
According to conventional wisdom, 80% of millionaires are self-made. How did they get that way you say? It comes down mostly to habits. Either you have habits that make you rich everyday or habits that make you poor. Are you spending a large portion of your income and spending time looking to buy things online, or are you working hard and putting away money to invest? Most millionaires I talk to made decent money, budgeted, and saved at least 30% of their money over at least a 10 year period. The disciplined savers took that money and then bought rental properties and other income producing assets. Everyone who I talk to who is broke lives paycheck to paycheck, gets Starbucks Mocha Mint Frappuccinos everyday, and they all own Iphone 10s.. As you can tell, most people don't have the discipline over their money to get rich, you have to put in small, consistent efforts every day.
Building wealth is exponential, not linear. Warren Buffett is an American billionaire known for his frugal habits and his knack for investing in value appreciating assets. For most of his life he steadily built his net worth. You can see the power of compound interest shown below.
Conclusion:
So there you go guys. Some quick tips I have encountered from studying my rich millionaire friends and rich billionaires popular in the American Media. Yes, you may of found my article amusing and hopefully informative. I hope it was different than the junk you read on Business Insider or Buzzfeed every day. Hopefully some of the pointers in my article will give you some motivation – because let’s be honest whether you try to get rich through Steemit or any other e-commerce venture , it will take diligence, persistence, and a long time.
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Discipline is the key to everything you said.
Reading two books a month.
It's about how bad you want it too.
Keep on steemin'
Discipline is pretty much you can do everyday. Oh yes - what two books have you read this month! You'll be successful as soon as you want it as bad as you can breathe!
Yes, you are right. I have also studied many entrepreneurs and try to follow their lives, whatever you have mentioned, these traits are found in them.
Thank you for the recomendation of the book.My one other friend has also recomended me to read it but right now I am reading another one, so once I finish it, then I will read it.
Thanks! I'm glad by research has lined up with your analysis. Yeah it's a great book when you're overcoming adversity. Think and Grow Rich has been around for a while!
Tht seems like the most important point to me..! 💪
u must have courage and dedication about ur work unless ur success will be an unfinished story..!
Good to see u back in steemit..!
Best wishes..! 🙌
~ Tennis Girl 🎾🎾
Hey Christina! I totally agree. If you quit you're success will be an unfinished story. Nice to hear from ya!
ya...!!!
stay blessed...! 🤗
To get rich, you have to believe something so incredibly far from your reach, with a little hard work and dedication, is actually possible to grab. Passion, great ideas and a ton of discipline are the foundation of wealth, so before you chase a fortune, build a wealthy mindset.
I think Steemit sums out "incredibly far from your reach." I agree a wealthy mindset is first the foundation in order to get what you want!
The last point was my favourite!! Everyone I know that is broke is usually hanging out at a cafe with the fancy drinks and complaining about how broke they are while scrolling through instagram, looking up an inspirations quote to add as a caption on their next selfie.
Wow so true haha. People will sit around and complain, and are broke af while peering through Instagram. So funny and very true. People who boast on Instagram are insecure and have nothing going for them.
nice posr
Persistence, hardwork, believe in your work are the things via which one can achieve success
This post has received a 78.61 % upvote from @boomerang.
Interesting article@jfitmisc. To achieve heights, it is necessary to go through fire and water, a betrayal. But the harder you work and set goals, the closer you are to wealth. In general work, work, work....)) I invite you to visit my page)
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I love the part you talked about having a mentor. Mentorship goes a long way in building ones career. Nice one.
Thanks Paul. Having a mentor is so essential. If you have one, the profitability of your success is a lot higher. Thanks for the comment.
Incredible ideas @jfitmisc :)
Thanks for sharing!
Becoming passionate is key while following a routine, like you said, reading each day, journaling each day, forcing a set of habits, even just small daily habits grow over time.
your thinking is brilliant.i also read top richman's life story.valuable post for us.
Love the flow of your writing my man - great post!
We happen to be interestingly similar in our passions in life. I "read" the books of the billionaires you mentioned this year on Audible - except Mark Cuban :)
I am an Elon Musk fan type hehe ;)
P.S> I actually have a similar doc in my google docs breaking down the options for becoming incredibly successful - curious and inspired to get back to it and turn it into a post LOL :)
Great tips really, thumbs up bro!
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