Personal Development

How To Become A Millionaire – THE FIRST STEPS

If you hadn’t had a dream of becoming a millionaire in your life as a kid, a teen, or when you were on your desk job and living paycheck to paycheck THEN, I don’t believe you!

Well, if you have, you don’t want to skip any line. Honestly, I don’t even have a single person on my contact list who does not want to become a millionaire. We are always looking for ways to increase our bank account, but is it that hard?

First things first, your current financial status has nothing to do with where you are going to end up after 5 or so years. You just have to have enough motivation in you to earn money and achieve your goals. Now many people have the financial capacity to become a millionaire. Still, they have designed their lifestyle in a way that it is impossible to save any money out of their relatively high income because of their expenses.

Only a very few people have learned the art of not only increasing their income, and improve their lifestyle but also save some money and become a millionaire. And if you want to be one of those, I must tell you that becoming a millionaire is not as impossible as it may seem from the outside.

Nothing is unachievable, you just have to put in the sincere effort with a proper roadmap, and you can have whatever you desire for. We witness plenty of examples of people who prove that you don’t have to be born in a millionaire family or win a lottery or do some cooperate job to maintain a 7 figure bank account.

Here, not only are we going to learn how one person can become wealthy, but at the same time, develop a lifestyle that boosts your confidence and joy. We are also going to stress on how to grow as a millionaire, and you don’t want to become a millionaire and back to the slums overnight.

We are going to pay key attention to the expansion of your idea and how you can sustain the growth for a longer period. One most underrated factor that goes into this process is the development of partnerships and relationships with the people around you.

Now, there are 2 ways to go about it, either you can work hard and then find a way to earn a huge bulk of money and gradually become a millionaire. By working hard, I mean earning some professional degrees and designations. You might have to even face a struggling period where you won’t even get paid (internships), but you do that anyway to gain experience. And with the experience, they started to earn more and more.

The second way to become a millionaire is less hectic and more preferred. You just have to be smart enough to know when and where to invest, start saving, and spending less. Now the rate of savings depends on how quickly do you want to become a millionaire.
From what I’ve observed, a lot of people have the financial income that can lead them to become a millionaire one day, but they fail to do so. And the simple reason behind that is them raising their expenses with the rise in income. They don’t have a properly planned budget with a portion of your income for savings. I would even suggest having an emergency fund, so you don’t touch your savings unless you have no other option.

Want to get rich? Here’s our guide to earning millions. You just have to follow these 10 steps, and I can guarantee that sooner or later, you are going to get your hands on that seven-figure amount.

1. Have a clear vision of where you want to be

The first step of everything is the intention. Intention determines the outcome of every effort. If you have a crystal clear imagination regarding where you want to be financially after a particular period, you are good to go. If you are not sure or if the vision is blurry, first address that. A confused person cannot succeed at anything.

It is perfectly alright if you are not sure about the roadmap. But one thing that you should be sure of is the destination. To become a millionaire or achieve any success in life, the following few factors are a must,

  • You must have a clear image of your future.
  • You must have a belief in your potential and capabilities to achieve your goal.
  • You must not be satisfied with an average lifestyle.
  • Imagination is an iterative process, and you must be willing to update it now and then based on your new knowledge.
  • You must tell yourself that you are not going to settle for anything less.

Also, once you are done with setting a vision – you must dive in. Only imagination is not going to get you anywhere. All the pieces of your life would start falling into their place once you start your journey.

Confidence and vision go parallel. You must have self-believe, and only then can you have a vision in which you will believe. If you have doubts over yourself, you are not going to be able to have any vision whatsoever.

After you have done boosting your confidence and setting a vision, the next step is,

2. Developing a short-term system to measure progress

The only way to keep a check on your progress is through short term goals. Deadlines and time-graphs play a huge role in speeding up progress. If you set a short term goal, say for the next 50 days, it is easy to maintain some momentum in a broader picture.
First, you have attached a timeline for your entire plan. Then break it down to smaller chunks of mini-plans. Then set each mini-plan a deadline. And then you focus on fulfilling one mini-plan /short term goal at a time.

This strategy makes it easier for you to even plan your vacations and mini-retirements. If you are working for a bigger vision, your one-day progress is not going to be so exciting or relevant from the outside. Short term goals make it easier to understand the value of putting in efforts each day.

3. Developing a daily routine to keep the momentum

So, now that you have a vision and then some short term goals. Next up, what you have to do is to develop a daily routine, in order to achieve your short term goals. This will help you keep the momentum going. Keeping the flow of work is the key here.
If you are able to pull off a daily routine before you even notice, you’ll be quite close to your target.

4. Designing an environment for creativity & clarity

Well, so far, you have a vision, some short term goals, and a daily routine to achieve those goals. Next up, you need an environment. An environment that keeps you on track.
You want to surround yourself with people who inspire you to get better with each passing day. People who will inject positivity and self-believe in you. Such a supportive environment goes a long way in making you a successful person.

5. Focusing on the outcome and not the process

We only admire people because of what they have achieved in life. There are several people who work equally hard and are equally inspiring, but you don’t admire them because they failed at producing the desired outcome.

So, my advice to you is to pay minimal attention to the process itself and have absolute clarity about the result and then just keep moving towards it. Having said that, you don’t have to do anything unethical to achieve success.

Honestly speaking, these habits and processes don’t matter that much. They are just over-rated. Suppose you are clear in your mind about where you want to go. You’ll find away.

6. Identifying mentors

Would you rather look for a job, or would you create a job? If you are one of those who are looking for a job, you are reading the wrong article. But in case you are a visionary person who is aiming to create jobs for others, you are in the right place.
When it comes to choosing mentors and partners, one must have the ability to identify the right choice. This can be tricky for a few, but if you try to study people, it gets a lot easier.

Becoming a millionaire is all about having the mindset of a millionaire.  Rich people don’t work to earn money; you work to explore new things and learn new facts.

One question every dreamer should ask him/herself is who is it that they want to become, or in other words, who do they admire? A mentor is someone whose life is a role model for you. But you must always plan on taking over your ideal. The world has seen one version of that person, so you don’t have to replicate him.

Take inspiration, learn from his journey but make your own identity.

7. Polish your listening and observing skills

There’s a very fine line between self-believe and over-confidence. Don’t overly- consume yourself in your own “Vision.” Rather keep an eye on what’s going on around the world.
For your words to be beneficial, you first have to analyze the situation. And for that, you must have the patience and the ability to listen to others. If you want your words to hold any value to the world, first observe and know the world.

8. Focusing on who rather than how

As I said earlier, the process and hobbies become irrelevant when you are focusing on a bigger picture. The most common mistake that visionary people make is that they start asking themselves, “how can I?”. The right question to be asked here is, “Who can do this for me?”

You don’t want to exhaust yourself into the tiny details of the process, and you just have to focus on the outcome and choose the correct partners to accompany you.

There are so many platforms to answer the question. Fiverr, upwork, and plenty of other platforms are there to provide you the “who.” You must remember one thing, to become a millionaire, you must not be planning on running a one-man show. It’s a team game, and that’s the only way to go about it.

9. Keep on updating your definition of success

We all learn a lot from our experiences, and that can continually change our perspective about things, including success. When you were young, your focus was centered around friends and your vacations. Slowly your focus has shifted as you have grown older.
Now you have learned that there are better things to focus on in life. The same goes for almost everything in life. So, don’t be embarrassed if you come across an entirely different vision during your journey. Just keep at it, and keep updating.

10. Don’t resist change

If you have achieved success at something, there’s no guarantee that that success is going to last a very long time or you are going to enjoy it. Don’t even think about stopping and maintaining your growth because you won’t be able to do that.
If you feel like there’s an even better prospect for invest, jump into that. You are always going to learn something.

Conclusion

Becoming a millionaire is not that hard; it’s just a matter of how dedicated you are to the cause. If you willing to spend say five years of your life into it, you can do wonders. Nothing is unachievable, you just have to put in the sincere effort with a proper roadmap, and you can have whatever you desire for. We witness plenty of examples of people who prove that you don’t have to be born in a millionaire family or win a lottery or do some cooperate job to maintain a 7 figure bank account.

Please let us know in the comment section below if you feel we have missed out on anything.

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