Monday, January 11, 2016
Thursday, December 31, 2015
Tips to Becoming a Millionaire
Becoming a millionaire is easier than it's ever been.
Many people have been writing me with the notion that it's an impossible task. They say, "It's pure luck. You have to be born into a rich family. You'll have to win the Lotto. Your parents have to help you out a lot."
A single mother with five children wrote the following, "Daniel, I read your article and I believe in what you're saying. However, I'm 50 years old and work long hours at two dead-end jobs. It's Christmas time and I barely have enough money to buy gifts for my children. What should I do?"
Another man wrote, "Well, if you work for the government or a non-profit, you cannot expect to become a millionaire. After all, you're on a fixed salary and there’s little time for anything else. By the time you get home, you've got to play with the kids and entertain yourself."
These queries got me thinking of the true possibilities of wealth all over the world, particularly in America. I've seen people come to America who speak little to no English, have no connections, no money, or formal education, but have still been able to create fortunes for themselves and others.
The truth is that all of us can become as wealthy as we decide to be. None of us is excluded from wealth. If you have the desire to receive money, whatever the amount, you have all of the rights to do so. There's no limit to how much you can earn for yourself.
Money is like the sun. It does not discriminate. It doesn't say, "I will not give light and warmth to this flower, tree, or person because I don't like them." Like the sun, money is abundantly available to all of us who truly believe that it is for us. No one is excluded.
Here are 7 tips to becoming a millionaire:
1. Change Your Thinking
You have to see the bigger picture. When most people see just trees, you need to look at the entire forest. This way, you'll be able to chart your own course and get to where you want to be. By having a vision and the goals to attain that vision, your possibilities are endless.
You'll have to go through plenty of self-discovery before you earn your first million. Knowing the truth about yourself isn't always the easiest task. Sometimes, you'll find that you're your biggest enemy and best friend -- even in the same day! Nonetheless, changing your thinking is a requirement for wealth.
2. Save Relentlessly
This will address the queries that I've recently received. For many individuals, there's too much month at the end of the money. However, you'll have to make your best effort to save as much as you can, even if it's a ridiculously low number.
There are many techniques for saving money. You need to find your own system and start building your wealth. Even if you're on a fixed income, you need to find the discipline necessary to save. Whether you start out with saving $50 or $500 per month, do the best you can and invest this money in the best way possible.
3. Learn from Millionaires
Most people are surrounded by what I like to call "Default Friends." These friends are acquaintances that we see at the grocery store, gym, school, work, and other places. We naturally befriend these people as trust grows. However, in most cases, these people aren't millionaires and cannot help you become one either.
If you truly desire and aspire to be a millionaire, these people may tell you that it's impossible. They'll tell you that you're living in a fantasy world and why you'll never be able to make it happen. Instead, learn from millionaires. Let go of these relationships and seek new ones that can help you get to the next level.
Related: 10 Phrases Every Millionaire Avoids
4. Indulge in Wealth
To become wealthy, you must first learn about wealth. This means that you'll have to put yourself in situations that you've never been before. For instance, you can test drive a new car, get a realtor to show you an expensive home, or get a brownie from the finest bakery in town.
Most of this will not break your bank. In fact, some of it is free. You'll have to go where 97 percent of people aren't willing to go if you want to make your financial dreams happen. Are there luxury golf courses, spas, or museums in your area that will allow you to indulge in wealth? If so, take advantage.
5. Believe It's Possible
If you believe that it's possible to become a millionaire, you can make it happen. However, if you've excluded yourself from this possibility and think that it's for other people, you'll never have money. Also, be sure to bless rich people when you can. Haters of money aren’t likely to receiving any of it either.
The best way to do this is to learn relentlessly about yourself and money. You can do this by reading books that have been written by millionaires themselves. By gaining a well-rounded education and staying inspired, you'll be able to get the wealth you've been looking for.
6. Enlarge Your Service
Your material wealth is the sum of your total contribution to society. If you know my famous question, "How do I deliver more value to more people in less time?" then you'll know that you can always increase your quality and quantity of service. People are waiting to be served.
Enlarging your service is also about "going the extra mile." When it comes to helping others, you must give it everything you have. Don't think about if the people you serve will appreciate it or not. You just plant the seeds and nature will take care of the rest.
7. Seize ALL Opportunities
In every neighborhood, no matter where you are, there are always opportunities to do good. Your community desperately needs your help. If you would only open your mind and heart to these opportunities, you'll find that they will be ready to reward you in due time.
Furthermore, you cannot say "no" to opportunities and expect to become a millionaire. You must seize every opportunity that has your name on it. Sometimes the monetary reward will not come immediately, but if you keep planting seeds, eventually you'll grow your fruitful crop.
Money is the harvest of your production. Everything that you have is in direct proportion to your actions. If you've done everything that you can do and have a purpose leading your life, you can expect to become wealthy. You must desire wealth and eventually the money will come when you are ready for it.
The more seeds (service) you plant, the more plants (money) you'll have.
Mental Shifts That Allow to Become a Millionaire
As of this writing, I’m 22. In the last 12 months I’ve generated a million dollars in commissions in one of the most competitive industries on the planet, where my average competitor is at least double my age with 10 times the tenure in the business. I have a master’s degree from a prestigious university, which I received when I was 20 after fast-tracking four years of school. I’ve traveled to more than 50 countries, completed 13 triathlons and have an extremely happy, stimulating life.
Things are very good -- but the future wasn’t always so bright.
When I finished graduate school, I moved to California's Orange County to launch a new office for my family’s commercial real-estate business. The first couple of months were brutal, and I quickly came to the conclusion that the success we’d have (if any) would be astronomically more difficult than I could ever have imagined. Despite being an overachiever all my life, I found myself wondering how to truly excel in the real world when it all finally mattered.
After reinventing the wheel for myself time and time again I’ve come to realize that the secret to millennial success in the business world is a combination of grit and creative thinking. Here are the seven mental shifts I implemented to turbo-charge my growth.
1. Age is just a number.
Embrace your youth wholeheartedly. If you spin your age as an asset, which can be done in a variety of ways, it can be an extremely powerful differentiator. The moment you begin to give yourself an excuse for not being successful is the moment of almost certain failure.
If you believe you can really make it then you will make it. Besides, there is nothing people want to see more than a hard-working, intelligent and dedicated young professional who succeeds. Create a snowball of momentum that makes people want to be a part of your life.
2. Reinvest in yourself.
The safest investment I’ve ever made is in my future. Read at least 30 minutes a day, listen to relevant podcasts while driving and seek out mentors vigorously. You don’t just need to be a master in your field, you need to be a well-rounded genius capable of talking about any subject whether it is financial, political or sports related. Consume knowledge like air and put your pursuit of learning above all else.
I also believe that it is critically important to spoil yourself to a healthy extreme in order to reward your hard work and avoid burnout. Consider splurging on memorable experiences and luxuries that will enhance your lifestyle. I get a weekly massage like clockwork, and it is one of the best productivity hacks I employ.
3. Avoid decision fatigue.
Attention is a finite daily resource and can be a bottleneck on productivity. No matter the mental stamina developed over time, there is always going to be a threshold where you break down and your remaining efforts for the day become suboptimal.
Conserve your mental power by making easily reversible decisions as quickly as possible and aggressively planning recurring actions so you can execute simple tasks on autopilot. I know what I am wearing to work and eating for breakfast each day next week. Do you?
4. Build a resilient mind.
The biggest differentiator between mediocrity and meteoric success is the ability to work productively for hours at a time. These long stretches are when important work is almost exclusively completed. Focus is paramount and, without intentionally developing mental stamina, you won’t be able to effectively compete with those who have systematically built up their endurance over decades in the business world.
Fast track your skills by being mindful of distractions and recognizing when you begin to wander out of focus. Perform a thorough analysis of your daily activities each night and aggressively seek opportunities for improvement.
5. Think big. Be big.
The science behind goal setting and its remarkable ability to accelerate success is infallible. If you don’t already have your one-, five- and 10-year goals written out and visible to you on a daily basis, do so right now. I read mine the second I wake up every single morning. Now ask yourself, what would have to happen to accomplish your 10-year goals in just one year?
The inherent power in maintaining consistency with your acknowledged goals can work both positively and negatively, and is cause for concern if you anchor yourself to a slower timeline of achievement. Be mindful and diligent in charting an optimal path that pushes you to your limit.
6. Be methodical.
Plan your work and then work your plan. Perhaps my biggest breakthrough was large-scale automation of my marketing systems. I created a process that allowed me to quintuple my marketing output while increasing my conversion rate considerably.
The simplest way to put your own content plan in motion is to create a multi-step campaign that touches a prospect through a variety of different mediums every week for at least a month. Follow a logical order and craft your content in a persistent way, while never becoming annoying.
Not in a sales role? You can take a similar approach to any analytical, creative or administrative position by developing rigid organizational systems that help improve your efficiency when faced with repetitive tasks.
7. Believe in yourself.
If not you, then who? Someone has to make it, and nothing is stopping you from being the person who accomplishes your wildest dreams. Nearly every person who has ever failed has had an excuse. Successful people have stories of the challenges that they overcame with creative solutions. The moment you confidently feel that there is nothing you can’t learn or develop to solve the most complex of problems is the moment of guaranteed greatness.
If you still aren’t sure how to begin, start with a promise to work towards the achievement of consistent excellence each moment of every day. This is the basic building block and mentality with which I am building my career.
Keep it simple and remember that success is not an entitlement. If you really want to excel, you have to get out there and earn it every day for the rest of your life.
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