Published by Matthew Gustin
10 months ago
It is exceptional being a millionaire in our society, since very few people are. Let me say it so; how big is the number of people who work their entire lives, but never manage to become financially rich?
Most people justify their inability to accumulate wealth and start looking for excuses like, “Money can’t buy happiness”. What they don’t know is that getting rich is not a matter of luck. If it isn’t in your priority list, you most probably won’t make it.
I won’t be telling you what to do, but I want to show you which convictions are incapacitating you to attain true and durable wealth. The following 6 features can be discovered in all young millionaires.
The best companies like young talent, those with a sense of urgency to their life. Google hires more teenagers than college graduates, and even children who are just starting high school.
Understand that now matters more than the past and the future. The notorious “one day I will”-mentality is putting so many dreams to death. Opportunities are only opportunities if you know how to use them to your advantage. I love this short story:
Two market researchers are sent to Africa to see if there is potential market for shoes. The first one reports to the boss, “There is zero prospect here. No one is wearing shoes.”, but the second one reports to the boss, “There is unbelievable market here. No one is wearing shoes.”.
Young millionaires always do turn situations to their favor, and they are regularly reaching for new objectives and ambitions. You must own an uncommon sense of urgency if you consider being successful.
Almost every young millionaire has an intelligent and wise mentor by his side. I haven’t seen any millionaire or billionaire who doesn’t have someone, who challenges and encourages him to think bigger. They know that it’s almost infeasible to become the person that is able to create millions, without an excellent network that supports them. Your chances of being successful increase or decrease depending on who you associate with. So always stay aware of your environment. You can adjust many things, but you can’t adjust time so make sure you’re always investing it on the right people.
Gary Vaynerchuk once said, “I suck at 99 percent of stuff, but I go all out on that 1 percent I’m good at.”
We’re conditioned by society to to work on our weaknesses and strengthen them, but all young millionaires focus only on their strengths. In order to compensate their weaknesses, they surround themselves with people who complement them. You can’t reach your goals if you keep focusing on things you aren’t good at. In which area can you become the best at? You can move onto something else, once you master that area, and start making significant results.
Wealthy people know that trading time for money won’t really get them anywhere. Sure, we all have to start somewhere, but eventually you have to focus on scaling and leverage.
Entrepreneurship, direct sales and internet businesses are growing exponentially because of the endless possibilities and upside. It’s hard, and it also involves risks, but you must be able to look beyond the risks and envision the rewards. Concentrate on the effects of leverage and learn how to create income without trading time for money. Take some time to really analyze if you’reusing your time in the best possible way. Only trade time for money if you have an higher purpose for doing it.
If you want to achieve a great life, you must learn to give up the urge to be liked. You’ll be restricted and limited by other people’s opinion, if always care about what they think about you. Most people that try to impose their opinions and beliefs on you, aren’t even as successful as you want to be.
Why should you listen to people who aren’t striving for the same dreams as you? When you are sick you go to a doctor and not to people around you. Young millionaires do the same. They only take few opinions and if they do, mostly from people who have already achieved the level of success they wish to attain. Develop a thick skin and learn to differentiate opinions and facts.
If you only live by what people say about you, slowly but surely their opinions start to become your reality. Steve Jobs used to say “your time is limited so don’t waste it living somebody else’s life.”
Young millionaires have an unshakable confidence in their actions, even when everyone else is doubting them. Challenge yourself to stay fearless in all you do. Most don’t take risks, because they fear what others might think of them. If you truly want to live the life of your dreams, you must discard the need to be liked by everybody.
MJ Demarco talks about the value of being a producer first, and a consumer second. In his book, “The Millionaire Fast Lane,” he says, “Applied, this means instead of buying products on TV, sell products. Instead of digging for gold, sell shovels. Instead of taking a class, offer a class. Instead of borrowing money, lend it. Instead of taking a job, hire for jobs. Instead of taking a mortgage, hold a mortgage. Break free from consumption, switch sides, and reorient to the world as producer. To consume richly, produce richly first. Unfortunately, most people have it backward: consumption and no production. Producers get rich. Consumers get poor. Switch teams and reorient as a producer first, a consumer second. Make wealth attracted to you!”
Take your actions seriously and become more aware of what you do. The majority of people spend one half of their lives saying they are too young, and the other half saying they’re too old. The time is now, then tomorrow isn’t guaranteed.