Daily Archives: April 6, 2012
Millionaires have more in common than their bank accounts, for self-made millionaires, achieving success took courage, the art of influence, vision and passion. Here are the most common strategies to the seven-figure bank account and what you can do to sharpen some of these skills to find your missing money link and live life on your terms.
1. Create Independent Thinking
Millionaires think different; they are often referred to as the crazy ones, the misfits, the rebels, the troublemakers, the round pegs in the square holes, the ones who see things differently, they’re not fond of rules, and they have no respect for the status quo. You can quote them, disagree with them, glorify and vilify them, about the only thing you can’t do is ignore them because they change things. They push the human race forward, and while some may see them as crazy, we see genius, because the people who are crazy enough to think they can change the world, are the ones who do. They think different not just about money, about everything. We all have the same 24 hours in a day, the time and energy everybody else spends conforming, millionaires make time to create their own destiny by cutting their own path. Since thoughts impact actions, people who want to be wealthy should think in a way that will get them to that goal by recognizing that a goal is a dream and an outcome is scheduled. Independent means digging deep in your subconscious to take control at the core level and having the courage to step into the unknown for what is important to you. In life you will find two things… a way and an excuse. For what you want enough you will find a way, For what you don’t you will find an excuse… Those most successful in life are the ones brave enough to step out into the unknown So, the lesson here is to forge your own way, and let your success drive you to learn the art of making your money work for you instead of you working for your money. Just look at Bill Gates, A self-made millionaire after dropping out of Harvard to pursue his vision. Although he didn’t take what many assume to be the usual path to success, his ability to ask a better question to get a better answer has been his blueprint to success.
2. Become A Visionary
Millionaires are creative visionaries with a positive attitude. In other words, wealthy people not only have big dreams, they also believe it will come true which causes them to find the most important part of this vision, their why because only 20% are the mechanics the other 80% is the compelling why that becomes their driving force. They revisit this why and approach it with a map that moves them closer in every decision everyday. As such, wealth seekers should set lofty goals and not be brave enough to step up, defy the odds and step out of your comfort zone, take the calculated risks of uncharted territories.Bill Gates, the world’s richest person in 2009, did just that. The American chairman of Microsoft is one of the founding entrepreneurs who brought personal computers to the masses. Gates jumped into the personal computers business in 1975 and held on tight, creating Microsoft Windows in 1985. When consumers began to bring computers into their homes, Gates was ready to profit from this new age.
3. Sharpen Success
SkillsWriter Dennis Kimbro interviewed successful people to determine the traits they had in common for his book, “Think and Grow Rich” (1992). What he discovered is they concentrated on their area of excellence. Millionaires also partner with others to supplement their weaker skills. If you don’t know what you are good at ask your friends and family. Utilize training tools and seek mentors to refine your strong skills. To insure success seek mentors who are already successful at your desired outcome and mirror their formula, you will achieve success in a fraction of the time it took them.
4. Live In Passion
It has been said most eloquently by billionaire Warren Buffett “Money is a by-product of something I like to do very much.” When you enjoy what you are doing it is not a job it is your passion that you happen to profit from, a job is an acronym for Just Over Broke. People who interact with money for a living often love creating new ventures and influencing others to complete a transaction. Find your passion, statistics claim the average millionaire doesn’t find it until age 45, and tends to be 54 before becoming a millionaire. Kimbro found that millionaires tried an average of 17 opportunities before they were successful. If you want to be rich, stop doing things you don’t enjoy and do what you love. Have sensory acuity, notice what’s working and keep moving forward and recognize what’s not working and change your approach until it does work.
Millionaires are willing to sacrifice time and money to achieve their goals. They are willing to take a risk now for the opportunity of achieving something greater in the future. Investing using the theory of compounding is a great way to diversify your assets and the growth of your profits. Using the 3 bucket rule is my strategy, if you want to know more read my article “Wealth Creation”.
Millionaires are constantly presenting their ideas and utilizing the art of influence to cause others to invest in them. Masters of the art are oblivious to critics and naysayers. In other words, they don’t take “no” for an answer. Millionaires also have good social skills. In fact, when writer T. Harv Eker analyzed the results of a survey of 753 millionaires for his book, “Secrets of the Millionaire Mind” (2005), he found social skills were more important than IQ. Just look at Donald Trump. His fortune has fluctuated over the years, but his ability to sell himself – whether as a TV personality or as the force behind a line of neckties – has always brought him back among the ranks of celebrity millionaires.The ability to communicate with people is essential to selling your idea. Contrary to the traditional view of salesmen, millionaires cite honesty as an important factor in their success. If you want to be a millionaire, be an honest salesman and polish your social skills.
Becoming a millionaire is not an outcome that can be achieved overnight for most people, it is for the disciplined who are willing to be unreasonable. It is achieved by making smart and often bold decisions, putting their skills to the best use possible and doggedly pursuing their vision. If you can learn anything about millionaires, it’s that for many of them, their riches are not necessarily what most sets them apart from the rest of the world it is what they did to earn those millions that really stands out.
To Your Continued Success,