There’s a clear distinction between the rat-race and the fast-track. While the general population reside in the rat-race, only millionaires cruise on the fast-track. And for self-made millionaires? The experience is even better!
Self-made millionaires are created when a few people do what other people do not have the stomach to swallow. These activities overtime become great skills, that further develop into permanent habits.
What then makes a self-made millionaire? Hoping for an opportunity is definitely struck out because, “hope is not strategy!”. If you fail to plan, you plan to fail.
Habits, they say, maketh the man! Even the great Mahatma Gandhi stated: “Your habits become your values, your values become your destiny”.
Before you can successfully do anything with ease, you’d have to live it. Your thoughts are only what eventually manifests in the physical, and self-made millionaires are masters at this.
Here are 7 top habits of self-made millionaires that you must incorporate into your everyday life:
1). They Pay Themselves First:
Always pay yourself first! This doesn’t mean paying your own salary before you pay your employees salaries. This means putting aside at least a tenth of the amount your business generates as savings for a future investment, or for the rainy days.
Self-made millionaires do this best. They don’t just put away 10% of their income. Some put away between 20% to 40%. This ensures they’d have savings for both currently unseen opportunities and emergencies.
A long term saving plan, can ensure you retire a millionaire. Starting young, is what truly matters!
2). They Read:
Readers are leaders! This can never be emphasised enough. Yes, people do get smart by experience. But that usually takes a long time. Whereas, people who read almost everyday, cut-off many years of perceived experience, and jump right into real knowledge that works.
Nothing has to be solved twice. According to the book, “The 48 Laws Of Power” by Robert Greene, the past is a great wealth of knowledge.
Reading places you ahead because, you’d learn what would takes others years and mistakes to figure out, in just days or weeks. Self-made millionaires know this, and this is one secret that keeps them ahead of everyone.
If you don’t read, you’d waste considerable time iterating processes people have already been through. And you’d end up with wasted years, with probably no success. But if you read, you’d break grounds faster from the wealth of information in the past, and always come out on top.
3). They Have Mentors:
Starting out, you’d definitely make a lot of mistakes. The advantage mentors pose here, is that they’d make the ride a lot smoother for you. They know most of what works and what doesn’t. They know the kind of road-blocks you’d face and how you may circumvent them. And they know how customers could react to various marketing strategies you’d use.
Over 90% of all self-made millionaires had and still have at least one mentor in their business journey.
4). They Set Goals & Plan Effectively:
Goal-setting is a key secret to success in any endeavour. Aim for the stars, and if you don’t make it, you could land on the moon.
Successful people plan their days, weeks, months, and years in succession. They know where they are headed, how to get there, and what it would take to achieve it. While unsuccessful people just go wherever the wind blows.
Like in a game of chess, the best players play to have their opponents react to their moves. The best also do not react, they respond. The same is with self-made millionaires. They plan their moves before they take any step. And if it’s a wrong one, they respond to the disappointment intelligently, and make an even smarter move.
Goal-setting and planning would keep you both on-track and focused!
5). They Have Several Sources Of Income:
“Don’t put all your eggs in one basket” – Proverb. This saying is a strong watch word for all successful entrepreneurs. Having all your income come from one resource-pool is extremely dangerous. Irrespective of this caution, multiple streams of income makes you even richer, if managed properly.
Every self-made millionaire has at least two income streams. When there’s a downturn in revenues from one stream, the others cover up. The more the income streams, the more financially secure they are.
6). They Are Great Networkers:
Self-made millionaires are great at building relationships. They are masters at making the right friends in any room. They know the right people for any challenge they face.
This doesn’t mean you should go on just any friend hunting spree. But that you should hangout at the right places, so that the kind of people you’d meet, would majorly be the right types. Less is more.
Great people-skills can never be overrated. Learn to mingle. Subtly showcase the positive values you can add to anyone’s life, and people would come to cherish their relationship with you.
7). They Manage Their Time Well:
Wasted time is money lost. What do you do all day? Social media 24/7?
Self-made millionaires make good quality use of their time. They don’t waste time stalking various profiles on social media. They don’t go out to bars at the time they’re supposed to be adding real values to their customers and prospects lives. They simply do everything at the right time. For timing, is everything in their world!
Remember: “Money comes and goes, but time only goes.”
If you don’t make great use of the little time you have, you’d live a bulk of your years admiring or hating on the success of others, who are a lot younger, vibrant, and far richer than you could ever be.
What are your thoughts on these habits of self-made millionaires? Please leave a comment below.