10 habits self-made millionaires master before 30 · 2. spend money to make money how michelle went...
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10 HABITSSELF-MADE
MILLIONAIRESMASTER
BEFORE 30
L E T S R E A C H S U C C E S S . C O M
A self-made millionaire is someone who’s creating products/services that offer value and building
businesses in an uncertain environment, taking risks and opportunities and making big decisions
with the goal of making a difference and profit.
Today people quit their jobs with the sole purpose of traveling the world while working remotely
on something they love. Or they move to the other corner of the world to meet like-minded
hustlers and start building a business from scratch, while living on their own terms.
Others prefer to stay at home, change nothing about their life except for this- they work whenever
they want, can take a break or a holiday at any time of the year/month/week/day and don’t need
to answer to anyone.
That’s the beauty of being your own boss. The world out there scares newbies sometimes and may
sound quite serious. But it may be something as little as being a freelance writer that can help you
pay the bills until you come up with a bigger idea or are ready to take the next step and be more
risky.
But the millionaire mindset is developed long before a person gets to the actual business creation
and money making. You need to think, act and basically live like a self-made millionaire from a
young age, so that you can be building profitable businesses sooner.
All that can be achieved by building the habits that will turn you into somebody who’s ready to
take all the responsibilities, wins and defeats of the business world.
Here’s what such people learn and become good at early on:
INTRODUCTION
If you’re going for the big things in life, you need to work harder than the average person long
before you see any money coming in. You need to be offering true value, to give more than
people expect, to work extra hours.
They wake up insanely early and spend most of the hours they’re awake focusing their energy
on what they believe in. Be it building a product, finding an audience, connecting with people,
or just being super productive at their regular job so that they can impress their boss and get
to the next level of the career ladder.
Whatever it is, you need to put in more time, concentration, enthusiasm and energy than
anyone else around you. If you’re not willing to go beyond average today and make it a habit
of yours to always go the extra mile, you won’t get ahead of others.
All startups begin by working alone countless hours on something that may or may not be a
success.
Such success doesn’t happen overnight, and those who are still hoping for fast results these
days are simply not ready to enter the business world.
You can’t go without hard work. It’s not only about creating the product, there’s also a mindset
of success being developed and a powerful vision growing in your mind.
1. GO THE EXTRA MILE
SELF-MADE MILLIONAIRES ARE HUSTLERS.
“THE REAL STORY OF FACEBOOKIS JUST THAT WE’VE WORKED SOHARD FOR ALL THIS TIME. I MEAN,
THE REAL STORY IS ACTUALLYPROBABLY PRETTY BORING,
RIGHT? I MEAN, WE JUST SAT ATOUR COMPUTERS FOR SIX YEARS
AND CODED.”
MARK ZUCKERBERG
SUCCESS STORIES TOINSPIRE YOU:
Here’s what Oliver Emberton (founder of Silktide) says:
“Consider our average lottery winner. Most end up blowing their multi-million earnings
in a few years because their mindset is to spend everything they have on the most
utility. When most people buy a house, they get the biggest they can afford. If they get
a pay rise, they go out and buy a new car. And when that’s not enough, they take out
credit to buy more stuff.
To the entrepreneur this is madness. All money is a means of making more. As a
sophomore Warren Buffett and a friend bought a used pinball machine for $25; within
months they had expanded several-fold into a regular income. How many kids think like
that?”
2. SPEND MONEY TOMAKE MONEY
How Michelle Went from $38K in Debt to
Building a Million-Dollar Blog
How Abby Turned Her Hobby into a 6-Figure
Family Business
How This Couple Started a Blog That Makes
$100K/Month and Traveled The World
How This Stay-at-Home Mom Retired Her
Husband at 30
How I Make $50,000 a Year from My Blog
Self-made millionaires are in love with innovation - they’re always open to the
new and different out there. And know that the next big idea can be hidden in
small details from everyday life too.
They’re independent and take responsibility for their own actions. Instead of
blaming others or thinking that life’s unfair, they accept anything that happens in
their life as a consequence of something they did or didn’t do. Then they take
action upon fixing it.
3. INDEPENDENTTHINKING
HOW TO FIND YOUR MILLION-DOLLAR IDEA?
8 Realistic Million-Dollar Business Ideas
67 Side Hustles You Can Start This Weekend to Earn an Extra
$1000/Month (and Grow That Income)
180 Legit Ways to Make Money from Home
How to Start Investing for The First Time
“I LITERALLY CODED FACEBOOK IN MY DORM ROOMAND LAUNCHED IT FROM MY DORM ROOM. I RENTED A
SERVER FOR $85 A MONTH, AND I FUNDED IT BYPUTTING AN AD ON THE SIDE, AND WE’VE FUNDED EVER
SINCE BY PUTTING ADS ON THE SIDE.”
Self-made millionaires are visionaries. They see the future of their industries, they see
their product in the hands of customers long before it’s launched.
They have a vision. And even if the product itself changes many times, even if the
strategy they use to create it may change occasionally, the vision remains the same.
Big things start small.
Here’s what Zuck says:
4. VISION
Back then this may have seemed like nothing,
compared to all the other projects the rest of the
programmers in Harvard were working on. But if
you’re on the right track, if you’re passionate
about the work you do and see its potential,
know that you need to keep going no matter
what.
Once you find such an opportunity, taking it and
making the best of it is one of your missions in
life.
Choose not only smaller when you begin, but
also simpler.
At the time Facebook was created, MySpace was
the number 1 social media out there. So Zuck
needed to think of a way to differentiate his
newborn platform so that people would prefer to
use it. And he made it simpler – that makes it
easier to use, faster to load, and with a better
design.
If you’re looking for ways to only use the knowledge you already
have, you’re on your way to failure. Instead, you need to be a learner
every day for the rest of your life.
New lessons are everywhere around us. Read, listen, talk to people,
explore options, try things, fail and improve. Learn and grow
spiritually too.
5. THEY’RE EAGER TOLEARN MORE
Here's another interesting point Oliver Emberton makes here:
“You do need an idea of course. But understand that even the most successful
companies were not founded on wild or brilliant ideas. Starbucks chose the brazen path
of selling coffee in Seattle. Facebook built a better MySpace. Google built a better
Yahoo search. Microsoft copied Apple – who copied Xerox.
Original ideas are overrated. What isn’t overrated is timing. Google chose the perfect
time to build a better search engine – good luck trying to do that now *cough* Bing
*cough*.
What you want, therefore, is an astute awareness of a need that is currently
underrepresented in the market. You want to spot a product or service that can go
places – original or not. It’s usually easier to refine an existing idea that isn’t fully
realised than to create a wholly original one.”
RESOURCES TOSTART YOUR OWN
BUSINESS:
6. TIMING
How to Start and Grow Your Own Business
How to Find Niche Business Ideas That Make
Money
How to Make Money Blogging and Become
Your Own Boss
How This Couple Saved Enough to Retire in
Their 30s
The Side Hustles That Earn This Dad
$100K/Year on Top of His Job
Truth is, a successful business - one that can make you a millionaire - may take nearly 10 years
of your life. It means that once you have a general idea of a product/service and start building
it, you need to stay true to it.
You might make changes and see improvements on every step of the process, but the path to
follow will be the same.
That’s the real face of patience. And that’s why if you’re on the right track long enough, you’ll
end up being wealthy, successful and having made a difference in the world by getting a
product out there that changes people’s lives in a great way.
If you spend tens of hours working on something, if you think it solves a problem people have
and if you market it right they will pay you for this, and if you add passion to that, you’re onto
something.
But there are too many distractions these days. People usually give up early on while their
project is still in its initial version, and when there is no money coming in. But big things take
time. And you’ll need to be selective as your time is limited.
The time you’ll dedicate to your business includes creating the minimum viable product,
getting it out there and asking for feedback, marketing, connecting with partners and
investors, making hundreds of changes to the initial product in order to make it better – to
upgrade it and add features.
But that will also make you successful, will let you make a difference in the world, become a
big name in your industry. Then you’ll have the power to affect other people’s lives, to
encourage young business enthusiasts and help them achieve the same.
Most importantly, all this will let you contribute to the world in the best way possible – by
doing work you love. And that, in my opinion, is one of the most productive ways to spend the
time you’re given on this planet.
7. PATIENCE
YOU CAN’T JUST GIVE IT A YEAR AND GIVE UP.
The power of prioritizing never ceases to amaze me.
If you learn to stay focused on your most important goals (just a few) in
your 20s, and stay consistent, you’ll succeed.
The problem is that the world we live in is full of distractions and our
mind tends to jump from one activity, dream, belief, habit, passion, goal
or else, to another.
We change direction daily and that’s why we don’t stay concentrated
long enough on one thing in order to actually put enough effort and
make it a reality.
But aspiring millionaires need to keep this vision in mind all the time.
They wake up and go to bed with their idea, they put it before anything
else, cherish it and dedicate enough time and energy to it.
8. THEY PRIORITIZE
READ THESE TO GET MORE OUT OF LIFE:
We’ve all created a zone of comfort, where we feel safe and secure. However, that’s an
illusion. It’s just what we’re used to, and nothing new will ever happen there.
You won’t ever grow and turn into who you’re supposed to become if you don’t get out
of there.
Self-made millionaires know that. They do it at a young age, usually in their 20s, and as
a result start taking risks, trying new things, become outgoing, take important decisions
without being in doubt, face challenges and don’t even waste time fearing failure.
9. THEY BREAK FREEFROM THEIR COMFORT
ZONE EARLY ON
How to Handle Anything in Life
7 Things to Do in Your 20s That
You'll Thank Yourself Later On
The Only 10 Ways to Become
Rich
5 Steps to Achieving Financial
Freedom
11 Tricks to Boost Confidence
6 Best Things to Do to Retire
Young
If you’re going to build a product and eventually create a thriving
business and a company, you need to care about all that.
As I said already, this may take a decade of your life. The whole thing
will be structured around one idea, or at least one industry. If you don’t
like it much you’ll soon get bored, and that will kill your creativity and
desire to persevere.
So be smart now and structure your big goal around something you
enjoy. This way you’ll make a career around your passion and you’ll live
a much happier life.Here’s an example: Jack Dorsey, co-founder and
chairman of Twitter and the CEO of Square, has
been coding since he was 14. And he combined it
with his biggest passion – maps.
He was in love with big cities and enjoyed
wandering through them – New York and San
Francisco, for example. And he was obsessed with
maps.
But paper ones were dead already, and the
Internet was just starting to thrive, so he started
programming to play with them. He drew maps
and made dots around. Soon he implemented the
same techniques in the businesses he created.
10. PASSION
That’s what happens in the mind of a self-made millionaire most of the time.
Are you ready to spend your days like that? If yes, start building such a mindset today.
Hey there and thanks for reading this
far! I'm Lidiya, the founder of Let's
Reach Success.
I went from having no direction in life, to
making my first money online
freelancing, leaving my home country
and moving to my ideal destination,
starting a blogging business and
growing it to $50K, and using that
income to live the life that I love so
much and worked so hard for!
ABOUT ME