What Self-Made Multimillionaires Know that You Don’t
(And How to Become One)
If you want true financial security, it’s not enough anymore to be a millionaire – you’ve got to be a multimillionaire. So how do you join the ranks of the 1%?
Make a firm decision to be a multimillionaire. Your first step is making that firm decision and then reaffirming that decision several times a day. See yourself rich, feel yourself rich, be rich in your heart and mind. This is where it starts and this is the first step to realizing your dream.
You must lose the poverty thinking. No matter what you were taught about money being evil or scarce, you’ve got to let go of those beliefs once and for all. Abundance is all around you when you open yourself to it. Like attracts like, so if you’re thinking poverty, you’ll just get more poverty.
Continuously think of your multimillionaire status as real. Since you can’t hold two opposing thoughts at the same time, if you’re thinking about how little money you have then you’re not thinking about getting rich. You’ve got to feel abundance throughout your entire body, and meditation combined with visualization is a great way to achieve this state.
Stepping stones are okay. In fact, they’re great. One of the biggest obstacles new marketers face is that $10,000 a month wall. They think they should be making this amount of money from day one, but the fact is you have to start somewhere. If that means getting your first $10 day and working up, so be it. Most self-made millionaires began with one small step on their journey and then simply never stopped growing and moving ahead.
It’s not just money, it’s also something else. This might be making a difference, proving yourself, living up to your potential, making the world a better place or leaving a legacy. If your sole focus is money, you’ll find that all the money in the world won’t make you happy. But if you have other goals beyond the money, being rich can make you happy indeed.
Get yourself some millionaires. They say you are the average of the people you hang out with, and that includes your income. So find wealthy people, whether you know them personally or read their blogs and books.
Buy time. Rich people buy time while poor people sell time. Nothing is more valuable than time, and this includes money. So anything you can outsource to someone else, whether it’s work-related or home-related, should he outsourced the moment you can afford it.
Forget spending – invest instead. You know that new car you want to buy? What would happen if you took that $30,000 and instead of buying a car, you invested it for 20 years at 7% interest compounded monthly? You’d have $121,162. If you bought the car, in 20 years you would have nothing of that money.
Millionaires-in-the-making invest when they can, whether it’s in their business, their education or in their portfolio. Instead of buying a house, they purchase an apartment building that produces cash flow and tax write-offs. Instead of buying a car outright, they buy cars for their company and then deduct them because they’re used during work, and so forth.
Create multiple sources of income. The more revenue streams you have, the more money you can potentially make and the more secure you are should one of your streams dry up. This is why marketers go into more than one niche, create more than one product and look to earn money in multiple ways. Remember when Google made junk Adsense sites obsolete? Those with many different streams of income were the least affected, while those who depended solely on Adsense were devastated.
Take advantage of trends. Right now one of the hot trends is finding inexpensive products and selling them at huge mark-ups on Amazon. Eventually, the competition will be severe and something else will be hot. That’s okay. If you stay flexible and keep a close eye on the marketplace, you’re ready to take advantage of trends as they happen while also building a solid, reliable business you can count on.
One last note: Self-made multimillionaires are confused by people who aren’t rich. They don’t understand why you can’t do the very same things they do – and they’re right – you can.
Perhaps the biggest obstacle to creating great wealth is the mindset. If you believe that money is limited, or evil or that rich people are bad, then you’ll never get rich yourself.
But if you can focus on abundance, if you can create a clear picture of where you’re going, and if you can feel satisfied with what you have right here and right now, then you can achieve wealth.
Lack leads to lack. Worrying and stressing about your lack is only going to produce more lack. By all means, get fired up and excited about what’s coming, but while you’re making it happen, let abundance flood your very being.