This article is intended for someone who is actually serious about it. Not a dreamer, not someone who’s looking to win the lottery, but someone who wants to be a real millionaire. For me, that has been a goal, and I’m going to achieve that goal in my life. I’m confident I will. I haven’t yet.
To get there, I’ve done a lot of studying about what it takes to get there. There are some very core principles that millionaires operate on, that the rest of the world doesn’t. It’s generally safe to assume that if you do what the majority of people do, you’re going to get the results the majority of people get.
The Proper Principles
I don’t know if you’ve looked around, but the majority of people are not millionaires. That is not because of luck. That is not because they weren’t born into the right family. That is not because they don’t have the right connections. That is because they’re not following the proper principles for how to become a millionaire.
When you start to get these in line and you go out and work them — you have to work them, there’s no magic pill, you have to work them really hard — when you know the principles and your work them really hard, then your chances of becoming a millionaire increase exponentially.
It’s pretty much guaranteed that if you want to become a millionaire, and you really work towards it, you will become one in your lifetime. Let’s talk about how to actually do it. Not the bullshit, the real principles involved.
First of all, the first principle is that there are no secrets. There are no shortcuts. There are no gimmicks. Luck is not a factor. A millionaire is someone who is a boss. By boss, I mean not just an employer of people, but a boss in the sense of he or she has power, has authority over themselves.
They are in control. A millionaire is control of his own mind. He does not buy into this idea that somehow, by luck, he’s going to become wealthy and successful. Definitely not. If you’re coming from that mindset that’s pretty much an end to it right there. That guarantees you will never become a millionaire.
Even if you do, by a fluke of luck, you’re going to lose all that money anyway. It’s going to be of no value to you. To become a millionaire, what you need to do is really be serious with yourself. How wealthy are you right now?
If you’re coming from a middle class background, or a lower middle class background, or even poverty, if you’re coming from a place where millions of dollars seem like “Oh my god, that’s amazing. It’s impossible to even dream of that. That would be a dream come true.” — if you’re coming from that kind of place, then here’s what you’re going to need:
You’re going to need radical self-growth, to become a millionaire. This is what’s going to be required.
The reason you’re not a millionaire, and the reason you’re never going to become a millionaire, doing what you’re doing right now, is because, basically, you’re not resourceful enough. Your psychology is not going to permit you to do it.
You have too many limiting beliefs. You have too much social conditioning. You have a groove you’ve set yourself in, financially and in other ways. Basically, you’re going to run along in that groove and — to become a millionaire, let’s face it, if you’re earning let’s say fifty thousand dollars a year right now, which is kind of an average salary, or even if you’re earning a hundred thousand dollars a year.
That’s nice, but if you’re in that place, then that’s ten to twenty-fold increase you need just to reach a million dollars. That’s not going to happen through just a series of promotions. You’re not just going to get promoted and become a millionaire one day. Almost guaranteed that’s not going to happen.
To reach the status of millionaire, you need to reach millions of dollars. To reach millions of dollars, you need to start doing something radically different in your life. To be able to do something radically different in your life, that means you need to be able to do something radically different in your life.
Most people can’t do that, because their psychology won’t permit them. It’s their mindsets. It’s not even so much about the work they’re doing out in the world. A millionaire does the same kind of work that a non-millionaire does, except that a millionaire has a whole different slew of mindsets and habits and practices that are completely night and day from what the average person is doing with their life.
Take The Reins
First of all, I want you to completely forget about outer circumstances. I want you to completely forget about the economy, the lack of money you currently have, luck, any lack of education you have, any lack of social status or social connections, any limitations you might feel from your family or the country you grew up in, or the bad boss you have, or the marriage you’re in, or the relationship that’s holding you back, or that bad childhood event you had — all of that has to go.
You cannot be a victim and be a millionaire at the same time. You have to choose one or the other. Most people are not millionaires simply for this reason, because they cast themselves as victims. They don’t take full responsibility.
You need to take full and utter responsibility for absolutely everything in your life, not just money, but especially money, especially career and especially business. Those are what’s actually going to create millions of dollars.
You need to take responsibility for the other aspects as well. You need to take responsibility for all your negative thoughts, for all your neurotic behaviour, for all the ways in which you get angry and upset and fearful — you can’t keep those as excuses.
You have to work on every one of those parts of your life in order to raise yourself up, to earn millions of dollars in a sustainable way. You’re going to have to work really hard on yourself. This is where people make a mistake — they think they’re going to work really hard on their job, they’re going to work really hard on their career, and then that’s going to produce millions of dollars.
The problems is that most people can work ‘till they’re blue in their face on their career, for decades, and they’ll still never be millionaires. The reason is not because their career doesn’t have the potential to earn them millions of dollars. It actually does.
Most careers, if you structure them properly and you come at them with the right thinking, can produce millions of dollars. Except, most people are not equipped with the mindset they need in order to capitalize on that. They’re never going to actually go out there and do it.
Work Better, Not Harder
Working at your job harder is not how you become a millionaire. That’s a trap. I’m not saying you should quit your job right now. I’m not saying you should slack off at your job. I’m not saying you shouldn’t study and be better at your job, and do it excellently. You should.
Just realize, to become a millionaire, it’s going to take a lot more. It’s the mindsets. Here’s the thing: you have a thermostat in your brain that actually has a set point for what you’re earning per year. It’s not the external circumstances. It’s the inside, here you have this little subconscious thermostat level, which has you pegged somewhere.
It’s got you pegged at twenty thousand a year, fifty thousand a year, seventy thousand a year, a hundred thousand — whatever it is that you’re making. You have to assume you’re going to stay at that level. If you want to shift that thermostat, you’re going to have to do some internal work.
Stuff is going to have to happen. Radical stuff. You can’t get from fifty thousand a year to a million a year. That’s not going to happen if you don’t be serious with yourself and tell yourself that something really major has to change with your life. It’s got to change on the inside first.
What you’ve got to start to understand is that millionaires have a different mindset and a different philosophy. They take philosophy seriously. They take their mindsets very seriously. They take their own personal growth very seriously.
What they do is fundamentally work on themselves, to make themselves more resourceful, so that they can go and create value for the world. A millionaire is going to value education. He’s going to be a lifelong learner. Critical for being a self-made millionaire.
Have The Right Beliefs
Beliefs: a millionaire is going to have very healthy, empowering beliefs about money, about success, about his own ability to control circumstances around him. He has to feel empowered. You can’t just go out there and create an extraordinary business, or generate some sort of product, or do something good for the world that’s going to generate a lot of value and bring you money back in return.
You can’t do that if you feel like you’re a victim and you have no control. You need to start to work on your beliefs. If you have beliefs around scarcity, lack of money, how money is evil, how corporations and businesses are evil, how the only people that are rich are the ones that scammed others and have done something nefarious — if you have these kinds of mindsets, then you’re basically fucked.
You’re never going to become a millionaire because you’re so stuck in your limiting beliefs that you simply can’t. Could you imagine being a millionaire and thinking all those things? It would be so incompatible. Your self-image would be so incompatible with your external circumstances that there would be just complete discord.
You would drive yourself nuts. Something catastrophic would happen. You would lose all that money. Your subconscious mind would sabotage you in such a way that you would lose that money because it would be too painful to hold onto it while you’re preserving these beliefs.
Something has to go. Either the beliefs have to go, or you are going to stay where you’re at, but you’re not going to have the millions of dollars. Personally, I would much rather have millions of dollars than hold on to shitty beliefs. I do everything I can to eradicate every single last strand of negative limiting belief I have in myself.
I work very hard to do that, because I know that I need to, to become a millionaire. We already talked about millionaires having to take responsibility, so that’s very important. But a millionaire also has to have purpose. We’re not just making you a millionaire just so that you have money. That’s not how a millionaire gets made.
A self-made millionaire doesn’t become a self-made millionaire just because he’s chasing after money. That’s not a valid motive, not a valid reason. Usually millionaires and entrepreneurs are actually very focused on the world. They’re focused on what they can do for the world. They have some sort of drive, some sort of passion.
There’s something they love to do, and there’s some way in which they love to influence the world. As a millionaire, as a business owner, if you have a popular or successful career, that gives you authority. That gives you impact. You should use that for some sort of greater good.
The reason you should do that is not simply because you’re helping the world, although it’s a nice reason, but because it’s going to motivate you. To become a millionaire, you have to work your ass off. You’re going to work harder than you’ve ever worked in your life.
Not just on the externals, and on your business, but also on the inside. You’re going to have to work really hard on the inside. To have the motivation and the perseverance to do that, to have the willpower to go through that whole journey of massive self-growth you’re going to have a deeper purpose.
Money is not going to be sufficient. Money’s never going to motivate you enough to do all that. Life purpose, very important.
The last point I would make about philosophy is that a millionaire is very independent-minded. He cannot be hemmed in by what the market tells him. He cannot be hemmed in by what his family tells him. He cannot be hemmed in by what society is telling him, by what the economy is telling him.
A millionaire has to bust through that, because the obstacles to create a business that will earn you that much money is going to require you to be an independent, critical thinker, be a bit of a maverick and a rebel. That’s also part of the philosophy of being a millionaire.
You have to start to embrace that. Stop relying on other people to give you answers, give you easy answers. Stop looking for easy stuff. A millionaire goes out there and he embraces the challenge of it. He thinks for himself.
How To Actually Get There
What does it actually take, on a practical level, to start to earn lots and lots of money? This is not some airy-fairy notion, this is very concrete. You need to have seven digits in your bank account. How do you get there?
This goes back to the fact that you can’t really get there by just working harder at your current job. If you’re working a nine-to-five job, very few nine-to-five jobs will allow you to rise to millionaire status. Only if you rise to a CEO position, or some sort of very high-level management position within a large corporation can you be earning that kind of money.
The other option then is to become self-employed. That’s basically what you have to do. You have to become an entrepreneur, a business owner or become self-employed. There’s different classes of millionaires out in the world. Some millionaires start businesses.
They start corporations. It could be a small corporation of five people. It could be a larger corporation of twenty people, a hundred people, tens of thousands of people. There’s a whole spectrum, and you could be earning millions of dollars anywhere along that scale of sizes.
That’s not the only way to become a millionaire. You can become a millionaire just being a one-man shop. This is what a lot of celebrities do. This is what a lot of artists, musicians do, bloggers, people who own internet businesses.
A lot of these types of businesses these days can be one-man shops, where you basically do everything, and then you maybe outsource certain things to other people, you have a couple of assistants may be helping you. Basically, your business is you, especially with someone like a celebrity or an athlete.
They’re making a business out of their life. In that case, you can make a lot of money doing that. In fact, celebrities are some of the most highly paid people in the world, compared to, let’s say, a CEO.
Most CEOs will never match the kind of money a celebrity will pull in, or the kind of money a really big athlete or musician will pull in. That’s also a very valid path. You can become an author, you can become a celebrity, a musician. If you’re more artistic, those things can work really well for you.
Work For Yourself
Either way, you have to become self-employed. It’s not going to work, staying at your job. This is another reason why most people will never become millionaires. They are too afraid to leave their job, and they’re to afraid to face the risk of not having money to pay the bills.
It is challenging. This is something I went through. I’m self-employed and financially independent now, but it is a real challenge to make that transition, from having a stable nine-to-five career to working for yourself and having to worry about all that stuff yourself.
What a lot of people don’t realise, when they’re working in a corporate job, they don’t realise how much of the really challenging stuff is being done by the leaders of the organisation, or how much of it has already been done decades and decades ago, by the original founders.
Now, they’re just kind of coasting on the company success and just typing away at their computer, and they can expect to get a paycheck. When you become self-employed, you quickly realize that it doesn’t work that way. When you’re self-employed, it’s all about value. How much value can you give the other person?
You’re going to have to start to worry about value. You’re going to have to start to worry about legal issues, marketing issues, logistical problems, employment problems. All these sorts of business issues, all of them come into play. You have to worry about economics and paychecks. It’s quite a lot to take on.
That’s stuff you have to worry about on top of whatever work you’re doing. That’s all added on top of the workload you’ve already got. It can be really challenging to go through that stuff. That’s why most people will never do it.
The upside is that if you do it, then you can position yourself very nicely to be earning a lot more than you would have if you had been working at that nine-to-five. Right now, if you’re working a nine-to-five, and you have a dream of becoming a millionaire, you have to start asking yourself “How do I make the transition?”
Start to look for different strategies and techniques that you can use, opportunities you can use to start to move yourself out of that.
The last principle I’m going to give you is the idea that you need to be generating lots of value in the marketplace to be earning lots of money. You’re not going to become a millionaire by doing something that’s low value. High value means high return. Low value — low return.
That means if you’re creating a product or a service, or you’re writing a book, or you’re performing at a concert, or whatever your line of work is that has to have big influence on a large number of people. The more people you can influence with your work, and the more powerful your work is, the more people love your work, the more remarkable your work is, the more chances you have of generating that massive value you need in order to charge people enough of money to be getting millions of dollars back in return.
This is a tried and true principle of wealth and wealth building. Value equals wealth.
Either way, as a millionaire, your eye is always going to be on value. How do you create more value for the world? How do you create more value for a customer base, for your fan base? That’s what you’ve got to work towards. That’s what you have to think about when you’re an entrepreneur.
Those are the fundamentals. These are the rock solid fundamentals to becoming a millionaire. You’re not going to get there through some sort of lucrative investment, lucky investment, some secret stock tip or winning some lottery.
If you’re very serious about becoming a millionaire, then you have to adopt all these ideas that I’ve told you. You have to go out and find even more. I’m just barely scratching the surface. You have to take this, you have to embody it, you have to ‘start to live it. You have to start to work on yourself and transition yourself out of your job into a business.
For me, it’s all the above. I want it all. How do you actually do that? To do that, you have to start to master your mind and your psychology. We got into a little bit of it here, but there’s a lot more. What I found is really important is to baby-step the process. You need to be constantly working on yourself, especially as a millionaire.
We talked a lot about personal growth. You need to be constantly growing and pushing your boundaries, so that you’re growing as a person. You need to become a bigger and bigger person, so you can take on more responsibility, create more value for the world. Then, you’re going to get that value paid back to you over and over again.
It’s amazing. Go ahead and sign up to our newsletter so that you can stay on track with that. I’m going to remind you to keep pushing yourself. That’s the value I can offer to you.