How to Become a Millionaire - 5 Tips

Do you want to know how to become a millionaire? If your answer is yes, then the first thing you need to realize is that becoming a millionaire is an exact science. By this I mean that you can follow the path of other millionaires and achieve the exact same results. However, for most people, the formula to becoming a millionaire remains elusive mainly as a result of taking in too much information from too many sources and failing to act on it.

The formula to becoming a millionaire can be likened to a cake recipe. If you gave the same recipe to 10 different chefs around the world, they will come up with the exact same cake. To become a millionaire, you need to find the right recipe and follow it to the letter until you start seeing results.

Here are 5 tips to guide you along the way:

1. Get a Mentor

Getting a mentor who has already been there and done that will cut down your learning curve significantly. It will save you the trial and error which could lead you to make very costly mistakes that could wipe you out before you develop the momentum to bounce back. Note however that most self-made millionaires are very busy and guard their time jealously. Identify their current interests and find a way to attach yourself to their top priorities to get noticed.

2. Be solution oriented

To become a millionaire, you have to learn to be the kind of person that looks at the silver lining in every cloud. Be a problem solver and look for opportunity where others see obstacles. Learn to see with your mind and suddenly you will see so many money-making ideas around you. Start each day by asking yourself how you can create value for as many people as possible.

3. Start thinking about working for yourself or through others

If you think you can become rich working for someone else, think again. It is almost impossible to become a millionaire as an employee. This is mainly because you do not have control over the sustainability of your income. Furthermore, a millionaire mindset in most cases conflicts with that of an employee. However, when working for yourself, you have to learn to get work done through others which in turn will leverage your time and resources.

4. Picture your success

Clearly imagine that you already have what you hope for, and that you have already reached your goals. One proven way is to practice back to the future thinking. This is where you imagine yourself as being a millionaire, and outlining the steps you took to get your there. Work your way backwards until you arrive at where you are, and then take action. This will keep you motivated.

5. Face your fear and take action

If you believe that you cannot do become a millionaire, then you are right. You will never achieve anything in life if you so not believe in yourself. Money is attracted to great ideas but you need to overcome your fear of failure to be able to pursue these ideas to a point at which you start making money.

Ask yourself how much value you create for every hour you spend working. This will help keep you accountable for your time.

Remember, you are your wealth. The Money that flows to you is just a by-product of your non-financial resources. That is why most self-made millionaires can lose their entire fortunes and rebuild their empires in record time.

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