What do you think when you hear the word millionaire? If you are a millionaire, you must have a big house, fancy cars and lots of money! You may be surprised to find out that the vast majority of millionaires are just like you and me. They work hard, live modestly and struggle like the rest of us with money.
If they are just like us, how come we are not millionaires? Millionaires have goals and a plan to reach those goals. They are competitors in everything they do. They may fail, but they are not failures! When they fail, they keep trying to succeed until they do. They are doing something they love to do and they are good at it. They are passionate about their career. What does that mean? Are you one of those people who look forward to the weekend versus enjoying what you are doing? Then you are not passionate about your career. If you want to be a millionaire, you need to combine your interests and skills in a career that you love doing sixteen hours a day.
What are your interests? What are your skills? What energizes you? What do you find exciting? Can you imagine loving work so much that you look forward to going to work? Millionaires do! They enjoy their work so much that they are always thinking about it. That is why most millionaires are self-employed. They excel in a competitive environment. What does that mean? They are so good at what they do that they will be one of the best in their marketplace. Can you learn to be competitive? If you are in business, you have competition, it is how you react to competition that makes you successful or not. A business competes for customers or against other businesses for limited resources. How do you react to competition?
Successful people have a vision. They know where they are going, they know how to get there and focus on what it takes to succeed. If they do not have the skills, they learn the skills to meet the challenge. Do you do that? They want to be the best in their career. They may not be disciplined in many things, but most self-employed people are self disciplined regarding their business. Successful people are confident in their business skills or they find people who can advise them. They are problem solvers, who developed an approach to solving problems in their business that works for them.
Okay, millionaires work hard, successful, live modestly and own their assets. What does that mean? They have little or no debt! This is what makes them millionaires. They may or may not earn millions as income, but they are worth a million or more. They could be a plumber, retail store owner, restaurant owner, machine shop, doctor, accountant, or business person. What distinguishes them from other people performing the same service or business? They own real estate, investments and businesses. They tend to have a high savings rate (20%) and invest in their business and/ or other investments. They have a high savings rate and very little debt because of their modest lifestyle. Do you think like a millionaire? Do you act like a millionaire? The next step is become a millionaire! Maybe you want to share your thoughts in your comments, through social networking, or tell me if you like this post. Your feedback is important to me.
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