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6 Signs That You’re Going To Be a Millionaire
“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.”
― Ayn Rand
If there’s one person that can perfectly sum up the meaning of humble beginnings, it would be Chinese entrepreneur Jack Ma. He was born into a simple family back in the 1960s, and he encountered a ton of challenges throughout his life.
As of today, Ma is worth almost $30 billion, easily making him one of the wealthiest persons on the planet.
He’s the founder of the online marketplace Alibaba, which is the Chinese equivalent to Amazon.
Before he made his wealth, Ma had to endure a ton of rejections and failure.
That includes flunking his entrance test for a university two times…
…getting turned down by Harvard 10 times…
…and business ventures that crashed and burned.
Ma eventually got into a teaching institute which led him on the tourist trade path. He did tours for people visiting Ma’s city on vacation.
Instead of payment though, he wanted tourists to teach him English.
Later on, he became an English teacher himself at a nearby university. Ma didn’t earn much, but he did an excellent job anyway and enjoyed his work all the same.
He discovered the Internet during the mid-90s and realized that he could put up an online company to sell merchandise.
It didn’t go perfectly – in fact, his first two companies went off the rails. Taking the lessons he learned from his failures, he started his third venture called “Alibaba.”
According to legend, the company was named like that after Ma ran into a café with the same name. And like the characters in the book “Ali Baba and the Forty Thieves,” Ma was on his own quest to get rich and be a millionaire as well.
After numerous investments from the likes of Goldman Sachs, SoftBank, and Yahoo, Ma’s unknown company soon caught the world’s attention – especially among billionaires.
Today, he’s not only a prolific businessman but also supports environmental causes as his way of giving back to the community.
Is There a Magic Formula for Wealth?
While a lot of average people take a passive role in their own lives, exceptional individuals like Jack Ma understand the importance of improving themselves.
He knows that to get to the next level of success, he has to take an active role in learning the traits and habits to get him there.
In most cases, people who wait around for something good to happen will never see any REAL change in their lives.
More importantly, they don’t make an effort to cultivate the mindset and attitude of rich people.
The truth is that there’s no shortcut or “hack” that’s going to make you rich overnight. It’s about creating a series of changes over time that will make you that kind of person.
Any kind of change is hard – especially if the end result is worthwhile, like generating massive wealth.
But if you know the qualities that separate the rich from the poor, you can start developing these traits.
And when these traits become part of who you are, it’s a sure sign that you’re destined for incredible wealth. Read on to know the signs…
#1: You take Action
Chris Guillebeau, author of “The $100 Startup,” says, “Inspiration is good, but inspiration with action is so much better.”
Using his unique approach to entrepreneurship, Guillebeau has helped people develop ideas that have turned into million-dollar businesses.
He understands that ACTION is one of the key ingredients to success. You can have the best, world-changing idea, but it won’t matter if it stays in your head.
Brian Tracy, a motivational public speaker, self-development author, and consultant to thousands of companies worldwide, knows this truth as well.
He says, “Effective entrepreneurs spend every moment of their time taking productive actions. They constantly look for opportunities to enhance their business and act decisively whenever they find an opportunity.”
But Tracy also points out that “constant action doesn’t mean deciding without careful thought… a necessary action in business…is remaining productive at all times so that (it) contributes to your goals.”
#2: You Push Past Uncertainty and Discomfort
Sir Richard Branson is the founder of the Virgin group of companies, and is worth more than $4.9 Billion.
He says, “My biggest motivation? Just to keep challenging myself. I see life almost like one long university education that I never had – every day I’m learning something new.”
Branson sees the value of breaking out of one’s comfort zone, and you should too. When you’re pushing past your current limits, you don’t know where that will take you.
From your point of view right now, it’s hard to see what lies beyond the horizon.
But if you make an effort to head in the direction of the unknown, you’ll find new territory that you didn’t know was there.
Branson certainly didn’t know where he’d end up when he built Virgin Records. But after that, he realized that he could build on that success and grow it to new heights.
If you have the same mindset, there are no limits to what you can achieve in the future.
#3: You Have Goals and Build Your Life Around Them
If you want to build wealth, you’ll need worthwhile goals. So, ask yourself the following:
- What values do you live by?
- How does your work help you live out those values?
- How can you add value to people’s lives in a profitable way?
- What are the steps – both big and small – that will take you there?
- Who do you want to become in the future?
This is a good start to figuring out the direction you want to take.
Once you’ve mapped out a general course, you’ll need to execute those steps on a daily, weekly, and monthly basis.
But what if you could go beyond those goals?
Let’s say you wanted to make $500 a month on top of your day job. Now, imagine if you could make twice or even THRICE that amount?
What if you could make so much from your side business that you could quit your job and do it FULL-TIME?
Thinking BIG is one of the traits that millionaires cultivate. They have grand visions, and even though they haven’t figured out how to pull it off, they take baby steps towards those goals.
Also, get excited about your goals! No matter how outrageous they are, you’ll feel great after you’ve achieved a small part of them.
The small victories along the way will keep you going until you’ve done bigger and better things down the road.
So starting today, put those goals in the front of your mind. They’ll help you focus on what you need to do, and drop the habits that don’t support your goals.
#4: You Make The Most of Your Time
Dwayne “The Rock” Johnson is one of the highest-paid entertainers on the planet. He’s worth $220 million, and he owes much of his success to his morning routine.
He gets up at 4:15am and spends a few grueling hours at the gym. Then he does 14-hour workdays on a movie or project he’s got lined up.
According to Johnson, his morning serves as his anchor. Once he’s grounded himself, he can get on with the rest of the day.
Arnold Schwarzenegger is also a fan of making the most of his waking hours.
Straight from the man himself:
“Everyone has a problem with time. But the day is 24 hours, and we sleep six. Now I know there are some out there that say ‘Oh woah, woah, woah, I need eight.’ Well, I say, ‘Just sleep a little faster,’ because the bottom line is we have six hours of sleep, 24 hours are available, so you have 18 hours now available to your work, your family, your hobbies, and also to learn something new or to do something new.”
Now, I’m not saying you need an insane bodybuilding routine or sleep 5-6 hours a day to become financially successful.
But you can take this opportunity to reassess how you’re making use of your time every day.
Are you dedicating the majority of your time to grow as a person and build your wealth?
Or do you find yourself getting sucked into the black hole of social media, Netflix, and other shiny digital distractions?
Yes, having some downtime is essential – but not to the point where it hijacks your day and kills your productivity.
Go over your goals, schedule them into your day, and squeeze in some time for relaxation.
Negotiate with yourself and ask, “If I get these tasks done today, what are you going to give me?”
Then you can tell yourself, “Well, then you get to play video games or read a book after.”
Be your own boss, figure out your working hours and make each minute count.
#5: You Don’t “Buy Stuff” – You Invest In Assets
Warren Buffett, a business magnate, investor, and philanthropist, is worth $84 billion, so he knows a thing or two about making money.
For a man of his stature, he’s refreshingly low-key. Buffett isn’t your stereotypical billionaire with expensive cars or ridiculously huge mansions.
And of the things he emphasizes is playing the long game and investing your money where it matters.
He sums it up in this quote:
“If you aren’t thinking about owning a stock for 10 years, don’t even think about owning it for 10 minutes.”
Investing is what allows millionaires to grow their wealth even more. They know that planting that seed today will yield something greater tomorrow.
To break out of a mediocre financial situation, invest whatever amount you can FIRST – no matter how small it is. Only then should you spend the rest of your paycheck on other things.
It can be a tiny percentage this month, and then you can increase that marginally if you happen to make more the next month.
It could be stocks, real estate, a physical asset to help you make more money, a course for learning a skill, or a book on how to get to the next level.
They’re useful in different ways, but these assets serve one core purpose: growing your wealth.
#6: You Have More Than One Source of Income
The other important benefit of reinvesting is that it gives you OPTIONS. When you put your current money into another venture, it will open up new avenues of income for you.
Tom Corley, an accountant, financial planner and author of “Change Your Habits, Change Your Life,” dedicated five years’ worth of studying to learn the habits of millionaires.
And he found a common denominator among them. Corley found that the majority of rich people he knew had an average of THREE streams of income before they broke their first million.
So if you’re doing the 9-to-5 gig, find a way to develop a side hustle. There’s no telling how much that could grow in the future.
And if you’re already self-employed, find opportunities to expand what you’re doing within your current line of work.
Already running a blog? Why not find a way to sell online content, like an ebook or course?
While you’re at it, why not promote products you’re using in your business and earn a commissionout of it?
The point is, if you’re diversifying your efforts, then you’re breaking new ground. That’s the path to lasting, stable wealth.
Making money and living a balanced life can be hard if you don’t know what you’re doing. It’s easy to put certain priorities on the backburner and waste your time on the wrong things.
But I learned the hard way that creating wealth doesn’t have to be soul-crushing.
It all started with making a subtle but PROFOUND shift in my thinking: