22.6 C
Abuja
September 24, 2021
BELT
Business Entrepreneurship Finance Investment Latest Marketing Networking Strategy Technology

7 Habits to Become a Millionaire

Depending on a daily income as an employee would not make you a millionaire, but investing and having multiple sources of income will. There are habits or things that millionaires did in order to become one.

Here are habits that can place you well on the path to becoming a millionaire, and why not, even a billionaire:

BECOME A MILLIONAIRE WITH THESE 7 HABITS

Shift your mindset about money: 

Most people don’t become millionaires or achieve large incomes through their day jobs. If you want to acquire wealth, you have to have multiple streams of income. We mean streams of income that do not rely on you trading your time for money. A book called “The 4-hour work-week” by Tim Ferriss, will teach you how to build multiple streams of income. You need to accept the fact that you do not need to rely on your day job to make money and can get your funds through multiple sources of income.

Strategic laziness

Value your time and keep in mind that it is non-renewable; it is the only thing we can’t make more of. This is called strategic laziness because there are lots of things we can do to be efficient and be more productive in our tasks. If there is an app that makes doing a repeated task more efficient, then invest your time to set that up to save time. The second way you can place yourself in strategic laziness is to not know the point of the thing you want to do. Make sure what you are doing is an efficient way of getting to your goal. Often when someone starts a business for the first time, they spend ages making a website, business card, and also trying to make sure the brand logo is appealing. However, if you are strategically lazy, you recognize that the end goal is to get customers, so spending time on a fancy website and business cards won’t help much. 

Develop an entrepreneurial diagnostic mindset:

Entrepreneurship is a faster way of becoming rich in this day and age because it’s hardly going to happen when working as an employee. If you’re interested in the idea of setting up businesses, you need to have a decent sense of what business to set up. To settle on a good business idea, you have to identify and solve a problem that the people have, which they will pay for. As you go about your daily life, think about a problem that would benefit you and society; for example, the idea of Uber. I am sure the Uber originator felt that going all the way to the junction to get a taxi sucks, and because of that had to create the cab-hailing option. The more you approach life with this entrepreneurial mindset, the more business ideas you get. 

Have a growth mindset: 

The non- entrepreneurial-minded people sometimes pick up a business they want to do but find it hard at the end of the day, and it stops right there. However, the reverse is the case for entrepreneurial-minded people. If you have ever thought of doing something and you stopped at just the idea, you need to adapt and understand that you can do it. The easiest way to solve this is to carry out enough research, which includes on the internet. 

Ask the right people:

In as much as you make your research, you also need to ask the right people for assistance. This method accelerates your learning process. When you have a problem, think about “who can help you solve the problem” instead of “how can I solve this problem myself”. If you are young in a business and you do not know many people, then it’s ok to start doing things by yourself. There are free online courses where you can acquire a skill and scale your business such as web and app development. But when it gets to a point where you have reached a certain amount of success and have gotten to know people who are into the business as well, you can begin to relate with them for better growth and development. Social media has made it easy for us to reach out to as many people as we want.  

Learn to make friends: 

Twitter is a platform where people with great ideas share and connect. Twitter is quite different from other social media apps such as Instagram because it deals with posting pictures and people commenting beneath. Sharing ideas and connecting with other people who share the same idea can make you become friends with them. You can also meet the right people that will help you increase your business. If you can get in touch with the tutors of your online classes, make them your friends, and share great ideas with them. They could find your idea very interesting and end up supporting you to achieve your goal. 

Read a lot: 

You cannot be a successful millionaire if you do not read because any successful millionaire or billionaire that you know today in business read a lot of books. In as much as you can get knowledge of our business from the internet and from meeting people, you can also read books written by people in that field. The great thing about reading books is that the author writes down a decade’s worth of life’s experience in a book which will take you less time or even a day to read. That’s taking in as much as 10 years of wisdom in hours. Read lots of books on entrepreneurship, businesses, and finance, or anything that suits your interest, in order to obtain great value. These books are not expensive, but you can also find free PDF books on the internet. 

Money is one of the biggest sources of stress if you do not have it. We spend so much of our lives in the pursuit of money, financial freedom, and independence, and if you do not have the habit of investing and saving or you keep depending on the government, then you are not ready to be a millionaire. I also recommend you research how what, and where to invest your money. 

Related posts

7 Sure Funding Style To Kick start Your Business Idea

Hassan Oiku

How to take Photos of your Product that will Help your Sales

BELT NG

Partial Privatization of Ethiopian Airlines Put On Hold

Comfort Ojedeji

1 comment

Miracle July 7, 2021 at 10:19 pm

A very educative post

Reply

Leave a Reply

×

BELT Support

× BELT Support