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.
Related: The 5 Top Business Books To Read Before And After Starting Your Business
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.
See Also: How To Make Money Online In 5 Realistic Ways
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.
View and right-click to save the infographic below:
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What are your thoughts on these habits of self-made millionaires? Please leave a comment below.
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Tips. …useful and interesting
Thank you Tunde for your comment.
Wonderful write-up. This will definitely enhance the ranks of the self-made millionaires!
Thank you Peter for your thoughtful words.
The value this write up has just added to life is very tremendous. Awesome is what describes it well.
Am happy you found this write-up valuable, Chidi. You can do a lot of good by sharing this with some of your friends, so they can also learn from it. Have a wonderful time!
This is great ……practically, it works.
Thanks Ojo for the commendation.
Do share with friends on Facebook, linkedIn, Twitter, and the likes, so they too can learn from this.
Have a great time!
Grate fact fully practice it work
Thanks Adeola for your comment.
leason taught nd learn
Thank you Stephen for your comment.
This write up alone can make a millionaire out of a begger.
Thank you Glory for your comment.
one machine can do the work of fifty ordinary men No machine can do the work of one extraordinary man -Elbert Hubbard. Quite an article you got there, more grease to your elbow, you can only get bigger.
Thank you for the commendation Nnamdi.
Have a great time!
sincerely this is fulfilment of destiny, but pls how can I get help on this? but my fear is am 0 financial my bidgest fear
I’d suggest you read a lot. Not just business books, but personal development books, and social psychology books.
These books would first build your thought-process and change you as a person, before anything else.
I look forward to hearing your progress rate in the coming months.
Thanks for your comment.
STAN, you are one person Nigerian youths need so much. These tips are sincere eye opener for the up coming game changers. Keep up the good work. Love to have more.
Thank you Adekanbi for the kind words.
I’m glad you found this article valuable.
Have a wonderful time!
Thank you Terry for the comment.
Thanks for this…its inspiring. You actually took your time to highlight those important points.
Thanks Mariam for the commendation.
Have a great time!
Thanks for this wonderful piece.
Thank you Ada for the commendation.
Do share with your friends so they too can learn from it.
Have a wonderful time!
Awesome! Thanks so much, am working towards becoming a successful entrepreneur someday. God bless u.
Thank you for the comment Anthony.
Wish you success!
This enriches me most, I found it useful and Paramount. as young graduate dazzled may way forward.
Good to know you found some value in this article.
Thank you for the comment.
[…] 7 Top Skills Of Self-Made Millionaires You Must Be Using [Infographic Included] […]
Very insightful and helpful. I had to bookmark this blog for future comebacks. Keep it up!
Thank you Louken for the commendation.
Have a great time!
8. They understand the markets; and are deligent investors. When you invest your income you optimize all the 7 points; leverage on other people’s time, energy, talent, and ideas. Thanks Edom for sharing.
Thank you for the contribution Lambert.
What a lovely post author
Thank you for the commendation.
THIS IS WONDERFUL KEEP IT UP
Thank you for the commendation Evans.
Have a great time!
I’ve learnt alot from this
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