How To Be A Millionaire: Secrets To Success

by Jacques Sprenger on May 16, 2009

Want to be a millionaire?

How many self-help books are there on how to become a millionaire overnight? You can bet that a lot of self-help authors are trying their best to strike it big by selling a million books to one million gullible readers. So we just told you the quickest way to become rich: write a book, preferably very short (the average attention span in America is equal to the speed with which you surf the web), and spend a million promoting it on television.

How To Be A Millionaire: Secrets To Success!

Seriously, the main difference between poor, middle-class, and rich people is the mindset: the attitude and skills. I am not a millionaire and your reading of this article isn’t going to change that, but I have talked to quite a few millionaires. Some of them simply inherited the wealth, so no merit there. But the others shared something that stands out immediately when you have a chance to study their life and their psychology, as I’ve tried to do.

Case #1: The Industrious Entrepreneur

They all have a powerful internal drive. I was able to work very closely with two persons who started middle-class and ended up very rich in just 5 years. The first one started by dropping out of high school and going to work for a small factory. After 6 months, he had mastered all the processes needed to manufacture the product. He was promoted to shop manager at the very young age of 22. Two years later he had saved enough to start his own business, and the rest is history!

Of course, most workers are content to work for somebody else and receive their weekly wages. And many don’t have the inclination or the drive to do much more. Another quality that millionaires have is ambition; but ambition per se isn’t sufficient. You need skills, talent, and a niche. I have the talent, the skills, but I have never had THE Drive. Ironically, this doesn’t prevent me from being reasonably happy, a condition that seems to elude some of those who have THE Drive.

Case #2: The Shrewd and Lucky Millionaire

The second millionaire I know found his niche after working for 10 years as a software executive. He had developed this close relationship with the head of a big company who offered him the opportunity to supply said enterprise with all their software needs. A little kickback was involved of course. The software guy believed he could find business success and set up his own software company, small at first, but growing exponentially as the market opened up during the Silicon Valley big bubble in the 90’s. He got out just in time.

Do I Have What It Takes?

There are some folks who would go into business for themselves despite the recession — they’ve got the determination to make it. So Drive (with a big D) is an essential component of the millionaire project, if you are interested. Analyze your skills, your talent(s), and your willingness to sacrifice leisure, vacations, and even family time, during the next 5 to 10 years. If you said yes to all this, go and find your niche. Some people became rich flipping houses, which was their niche; others invented a new fabulous product or process, again in their niche. But whatever your preference, remember that there is a price to pay for becoming a millionaire: Peace of Mind? Happiness? Family? Or None Of the Above?

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{ 15 comments… read them below or add one }

1 MoneyEnergy May 17, 2009 at 10:13 pm

Funny how I can never tire of reading these types of articles!:) It’s always good to hear another point of view, or, the same argument that confirms what you already know. For me, being a millionaire is going to depend alot on the power of compounding. I’m a stock investor and I reinvest my dividends. Until I start my own business (beyond blogging, of course), I’m going to be relying on portfolio income to bring me up. I’m confident about it, though. For me it’s not networth that will make the difference, but cashflow. Just having enough to have the freedom to work how you want to work.

2 Treena Tims August 20, 2009 at 8:02 am

I want to be a millionaire!

3 skyyrie September 8, 2009 at 11:02 pm

For me, money is influence. I need to work on things that will help me to make more of it, eg. improve my skills, work harder, etc.

4 JB November 9, 2009 at 2:25 pm

Millionaire, I be there fast as a hare, a rabbit tamer with a lot of bad habits, dag nabbit, I forgot my wallet, I’m apalled at it, its so tragic.

I got a lotta money but I just spent it, I’m spent need some money for rent, can you help?

5 JB November 9, 2009 at 2:26 pm

I want money lotsa lotsa money. i’m so high in the sky. I wanta be rich, da da da da da da daaaaa

6 The Smarter Wallet November 9, 2009 at 6:45 pm

Work hard and smart, then maybe you’ll get some money, JB.

7 ilir March 11, 2010 at 7:49 am

may you tell me for example what kind of a business may I start with just a little money and by those money to make more money…..

8 pamung June 7, 2010 at 9:24 am

I want to have a lot of money. One day the sun will rise for me to bring in big money.

9 BJ December 17, 2010 at 9:28 am

With God all things are possible. I shall make money, with the grace of God.

10 TREENA January 3, 2011 at 1:53 pm

Amen! BJ!

11 EMCEE January 8, 2011 at 4:14 am

few steps to be rich, i wanna be rich too…hard work and smart thinking never fails..

12 Dave Gardner March 2, 2011 at 12:23 pm

In the words of James Malinchak, your success depend on the following statement related to what you mentioned as well;

“Your skillset, your mindset and get off your assets!

You must do as even those who inherit their money can blow it quickly if they are not smart about “doing” the correct thing with it.

13 Steve April 26, 2011 at 8:41 pm

Well said, it does indeed come down to mindset. Belief is a big one – rich people believe they will be rich whereas for most people it is merely a fantasy. It is that belief that gives them the drive to pursue their goals.

14 Brianna McClelland July 10, 2011 at 12:10 pm

I want to be A MILLIONAIRE!!!!!! My journey begins today!!

15 deiva March 4, 2012 at 7:29 pm

one day i will become a millionaire but i will work hard and pray to God first to be healthy.

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