Who doesn’t want to get rich? Almost every person wants to be rich. While some may say it openly and others may secretly dream of having tons of money. If you ask a friend or a successful person “How to become rich?” or “How to make money?” each one will have his own formula and suggest different ways to make money to become rich. So rather than getting confused, it is better that we study the habits that can make you rich and successful.
How to make a lot of money
If you do a little research you will find that a lot of rich persons are self made millionaires and billionaires and not those who have inherited money or won the lottery.
You might also be having some ideas that investing in stocks, playing in stock market, winning a lottery or inheriting money are some of the fast ways of making money. But we are unsure about the efficacy of such “methods or techniques of earning a lot of money”.
Habits that can make you Rich and Successful
If you are unlikely to receive a windfall in the immediate future in the form of lottery or inheritance and you don’t want to wait for a long time to save money to possibly get rich, then it is time reprogram your mind to be a millionaire through self efforts.
Do what the rich and successful have done the smarter way. By adopting the habits of millionaires and following the tips given below, you too can improve your process of becoming a millionaire and make it more efficient and easier if not quick. Also read: Secret Habits Which Can Make You Rich Faster
1. Have a Desire to be Rich and not merely a wish
It is nice to say and hear that I want to have lots of money; or I want to be very rich or I want to be a millionaire. But that is a weak intention. You need to put your emotional, mental, physical and spiritual energy behind the intent. Hence it is better to have a strong desire than a mere wishful thinking to be rich.
2. Decide how much Money you want
The next logical step in the process is to be specific. Set clear goals for yourself that how much money you want and in what time period. It is like going from a city to another. Say you want to go to Chicago from Detroit. There are many options. The flight will take about one hour, the public transport will take you there in about 6 hours and perhaps you can drive 283 miles in your car in about 4 to 5 hours. Hence you need to have clear goals.
You may want to specify that how much amount you want to earn every year and what shall be the time period to reach that income level through. You will also have to decide about the activity you will achieve your goal.
Do you want to become rich by trading in stocks in stock market. Or it is your heart’s desire to start a startup. Maybe you are a good photographer and are receiving training to be fashion photographer.
In brief, having a specific goal in mind will help you do the right calculations and create a road map to reach your destination. Of course, you should be open minded and flexible in your approach as it will help to switch to an alternate route in case the original road to riches is not working out for you.
Also refer to: Money Tips to Become Rich
3. Work Hard But Work Smarter
Convince yourself that success and money will have to be earned. The riches don’t just fall in the lap of someone. There could be some exceptions in the form of unearned money. But even then the so called lucky person will have to work hard to keep that money and manage his finance well to make the money grow.
To begin with, you may have some money but mostly it is your time and sweat equity which you will have to leverage to earn handsome return on investment.
Challenge yourself mentally and physically every day to put in long working hours and make sure it is the time well invested. To be a successful business person and a millionaire you should be willing to work long hours. Enjoy your work and put in 100% of your heart and soul in it.
4. Work Smarter
You need to optimize your time, money and other resources. If intelligence, smartness and flexibility are also combined with the hard work you can reach your goal much faster, easily. Perhaps you can even surpass your target. For example, in your business if you can buy a machine or outsource part of your work or take the paid services of a professional or an expert who has proven expertise. This way you will not just save time but will also get much better results.
With the time saved you can focus better on your core activity and increase your productivity.
As regards flexibility, you should ready to switch to alternative method or route in case the original plan is not giving sufficient results. This also hints at the need for constantly monitoring the progress and acting promptly on the feedback.
5. Have a Business Coach
No celebrated player has ever reached the height without at least one good coach. Same goes for almost every line of profession in the world. Having a good business coach or life coach or mentor or advisor is almost essential but unwritten rule of success. In the business world, one serious mistake can set you back by a few years or rob you of your investment.
If you want to earn lots of money and be a millionaire, having a good mentor is one of the best things to do. He is there to guide you about the ways to riches, receive his advice and learn from his experience. Above all, the business coach gives you the much needed motivation when you are in dumps. That gives you the energy and technique to pull yourself up and to go all out to reach your goal. Read: Daily Morning Habits to Become Successful
6. Learn everything you can
Be a compulsive learner and obsessive reader. Leave no stone unturned to educate yourself on all things relating to your line of business and secondly about money and financial management.
You might like to start your business of web designing, mobile application etc. but if you are not trained on one of the aspects of internet business – say Digital Marketing then you are not the best in the business. Go ahead and acquire all the knowledge and expertise from whatever possible sources you can and stand taller than your competitors.
Similarly, as the entrepreneur you need to be good at managing money and this hardly needs to be over emphasised. For example, all your profitability and economical viability can be washed away if your cost of raising money for business is higher than the industry average.
Make reading of business news, banking, financial markets, stock analysis etc. a part of your daily reading. Not only can this help arrange your finances better but with right investments of surplus money you can reach your goals faster.
Join the formal or informal club of successful professionals related to your domain. Associate closely with a few select millionaires and you will begin to imbibe their thinking, habits and work culture. You’ll learn how they manage business, take decisions, face crisis with confidence, and how they maintain a schedule. This will help you “fake it before you make it”, by learning how to be a rich and successful entrepreneur. You may also like to read: Secrets of becoming a Successful Entrepreneur
Final Tip to getting Rich
Getting rich quick is both a work of left brain as well as right brain – calculated steps as well as an art. But you won’t get there without cultivating some of the habits detailed in this post. By following these tips, you will be a lot closer to becoming a millionaire in a shorter span of time. You have to Change Your Attitude and Belief to Improve Your Circumstances
If you’re serious about becoming a millionaire or a billionaire, you have to start the action on above points now.