How To Become a Millionaire

how-to-become-a-millionaire

To most people the idea of becoming a Millionaire is pretty far-fetched, almost incomprehensible and the only way to achieve such a feat would be through some stroke of luck- winning the lottery, inheriting some great Aunties fortune or inventing some life changing gadget.

But what if I told you that you could become a millionaire, not through luck, but through applying some effective strategies and techniques, combined with hard work and dedication?

Well it is possible and this blog is going to provide you with some of the methods on how to become a millionaire derived from my research on the most successful millionaires in the world in addition to my own personal success on the path to my millionaire fortune.

Firstly, just to make it clear, there are levels involved in becoming a millionaire- the philosophical level and the practical level, both of which combined, if adhered to correctly will have you making bucketloads in no time. There are no shortcuts, no quick routes, no luck, just a good mindset, hardwork and the ambition to succeed.

THE PHILOSOPHICAL LEVEL

  1. TAKE RESPONSIBILITY FOR YOUR LIFE- So many of us fall victims to our lives, placing blame on others for all that has happened, our rough upbringing, our horrible financial situation, our disconnection from family or friends, or focusing on the hardships in our lives, low social class, poor economic state, horrible job, but what we need to understand is that if we are prey to this negativity, we are jeopardising our own success. When we palm off the blame to others, we are sacrificing control of our lives, our happiness and our future. It is your life, so instead of letting others dictate how you feel, why not take responsibility for it? If you are going to be the boss and generate millions of dollars, you need to be the boss of your own life first!
  2. WORK HARD ON YOURSELF- If there is one thing I have learned in my own journey of recovery and growth, it is that self development is crucial to success. We spend so much time and money on educating and developing ourselves through school and university, but few of us take the time to focus on the underlying foundation to all of this- our own mindset. Radical personal development in the form of overcoming negative predispositions and building and expanding on your strengths are vital in building a mindset worthy of success. After all if you work hard enough on yourself, your life will reflect this and you will triumph in all your endeavours leading you to your fortune. A millionaire mindset= a millionaire man/woman
  3. EDUCATE YOURSELF- Yes having a college education is great. But to be the best and make the money you want, it goes beyond that. A true millionaire has a thirst for learning and development, constantly striving to expand their knowledge on whatever the topic may be. When you give up learning, you become stagnant and settled. Through ongoing education, you are able to build an empire of information that will help you not only build your empire, but path the way to a road of riches.
  4. CHANGE YOUR BELIEFS- Through the conditioning of our childhood and upbringing, many of us fall into the trap of trusting in limiting beliefs that hinder our personal growth and quite often, our prosperity. For example, if we have grown up with a negative connotation around money, as a result of growing up in a poor household, then it is likely we will think that we are unworthy of money- a limiting belief. The good thing is that this can be changed. If we trace the belief back to the source of the problem, growing up in poverty, then we can use positive affirmations to retrain our mindset and plant the idea that we are worthy of endless money. Through doing this, we are creating empowering, positive beliefs surrounding money and allowing ourselves to grow to a higher level of wealth.
  5. FIND YOUR PURPOSE- Very rarely will you find a millionaire without passion and purpose behind their success. In fact, most of the richest people in the world have come into their fortune by finding what they are good at, finding how they can make a difference in the world and discovering how they can change the lives of others. Steve Jobbs, Russell Branson and Bill Gates are just some to name a few. If we have a purpose, then the work we put in, the hard yards, to formulate this successful life becomes not work, but a pure act of passion. Sure there is hard work involved, but the idea of doing something that you love or because you want to help others will shine through your work, your business, and reward you in the most luxurious of ways.
  6. THINK DIFFERENTLY- There is a famous saying, ‘do what the majority of people do and get what the majority of people get,’ and it couldn’t be more accurate. In this world of consumerism, where the follow the herd mentality is so prominent it is even more crucial to think outside of the box. If you have an idea, ignore what others believe and think about how you can twist it to make it more unique. When we become a sheep to societies beliefs, little do we know we are limiting what we are capable of and damaging our potential. By remaining ignorant to the general consensus and defying the norm, we are able to create something truly marvellous, truly individual, and wallah, it becomes the key to our dreams of a millionaire fortune. After all, rebels have more fun.

THE PRACTICAL LEVEL

  1. START YOUR OWN BUSINESS- Lets be honest, working the 9-5 grind isn’t really going to get you far in life financially, that is unless you plan on becoming the next CEO. Personally, the stress, work politics and capped income just don’t seem worth it to me if you are doing it all for someone else’s cause. The alternative solution: start your own business. According to statistics, over 85% of millionaires across the world are self made, creating their fortunes from their own business endeavours. Yes sure there is a lot of risk and hard work involved, but if you do it right, working on your mindset first and then utilising all the right principles, then you can succeed at whatever business you create. Find something that the market needs or something that you are good at and strategically plan how to provide exceptional value to your niche market. Exceptional value will result in exceptional profits.
  2. BE AN AUTHORITY- Everybody has their own areas of expertise, a field in which they know so much that people could potentially turn to them for guidance or idolise them for, so why not take advantage of this. As a representative of your business, focus on getting your name out there as much as possible and building your reputation through social media, word-of-mouth, books and various other channels. Through doing this we become a trusted source of information and when people are after a product or service that fits within your business model, as a branded expert naturally they will turn to you and your business first. This, in addition to the various ripple effects that happen as a result of being an authority figure, guest appearances, book writing, television appearances and so on will all result in increasing your net worth and bring you closer to that millionaire status.
  3. HAVE GOOD COMMUNICATION SKILLS- A crucial element to success is the ability to communicate and build rapport with others around you. When it comes to building a business or being an entrepreneur, you need to be able to build strong relationships and network effectively in order to harvest your business success. The best demonstrated example I have seen of this is through the work of my mum in building her business. She literally strikes up a conversation with everybody, Joe Blow at the coffee shop, Phyllis while buying her tofu in Coles, even the spunky Electrician doing work at a property she is working on, this woman knows how to hustle. The result of this- so much awareness of her company and business she barely has the chance to sit down. Not only is having great communication skills good in generating more business, but it is vital when it comes to liasing with experts who can further help your business expand. Through good communication you develop trusting, mutually beneficial relationships which can develop into the opportunity to learn from each other, gain greater insight or help each other out in areas of strength. This can be particularly useful when your business is just taking off as if you have a good relationship with someone, then you can ask for their help in an area of their expertise in exchange for assisting them in an area of your expertise. Isn’t it beautiful the way the world works so cohesively like that when you put the love out there!
  4. FOCUS ON MULTIPLE STREAMS OF INCOME- The common mistake that people make is putting all of their money and energy into one project and just sticking to it, hoping to make the most money they can. However, the key to success is reinvesting this in various, well researched opportunities that will multiply your money even further. Opportunities that generate passive income are the most effective ones to invest in, such as real estate, affiliate or MLM marketing opportunities or stocks, as you can be tripling your money with limited work. Even as you start to build your business, reinvesting one stream of money from one business into another business or opportunity will give you security in the case of a lull in income production from the other business. As your businesses keep expanding, continue to reinvest into more and more options and you will bear witness as the income streams in. We will discuss how to generate multiple streams of income in another blog in the upcoming weeks.
  5. WORK YOUR BUM OFF- Let’s be honest, the chances of you finding a get-rich-quick scheme that is going to make you a millionaire is pretty slim. To reach the label of millionaire takes hard work, a lot of long, sleepless nights and hardcore hustle, and if you are not willing to put in these hard yards, then don’t expect to get the results. The majority of millionaires out there came into their fortune because they made sacrifices and put all their energy into turning their passion into something valuable and meaningful. Sure, sometimes things will get tough and you may be so tired and exhausted you want to give up, but the difference between the average person and a millionaire is no matter what, they do not. They keep hustling and grinding until they succeed, not just on the business itself, but also on themselves, the most crucial component to all of this.
  6. WORK WITH OTHER WEALTHY, SUCCESSFUL PEOPLE- When you have grown up in a poor social class, sometimes it can be easy for limiting beliefs to get in the way and act as a glass ceiling, stopping you from reaching your goals of financial freedom. Working with somebody who is already wealthy and successful enables you to learn their psychology, customs and lifestyle and consequently overcome the limiting beliefs that were holding you back. Have you ever heard the saying you are the product of the five people you spend most of your time with? Well it is true so if you are gracing yourself with the presence of prosperous and driven people, the chances of you becoming this way is pretty likely. Get out there and surround yourself in a community of people who have achieved their dreams and I guarantee you they will be willing to help you achieve yours.

I truly believe that everyone is capable of becoming a millionaire if they really put their mind to it. I have seen people start with nothing and go from rags to riches. I have worked with people who created their fortune from nothing and despite their millionaire status, have remained so humble and grateful. In this world, you are capable of anything, you just have to be willing to believe it.

There is plenty of money circulating this world, you just have to find your way to access it.

Good luck

-the Soulful Wanderer

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