I always wondered why some folks reach the Millionaire Status while many people have financial problems
For this reason, I studied self-made millionaires’ biographies to discover how millionaires achieved financial success.
From their biographies, I realized the 4 main ways to become a million-dollar millionaire.
1.Climbing the Corporate Ladder
You can become rich by climbing the corporate ladder. Millionaires such as Brian Dunn (Best Buy’s CEO), and Jack Welch (General Electric CEO) were once junior employees, but became the CEOs of their companies.
Brian Dunn commenced his career as Best Buy’s sales associate, while Jack Welch started as a Junior Engineer.
Climbing the corporate ladder is thus a reliable way to get rich. However, it’s not easy to climb the corporate ladder because you have to work extremely hard for you to do so.
Brian Tracy teaches that for you to climb the corporate ladder and reach executive level positions, you must enjoy working for your company so much that you work on weekends. Besides this, he teaches that you have to treat the company as if it’s yours, and you always have to be the first to arrive at work and the last to leave.
If you work so hard, you’ll be highly skilled, and your employer will do anything, including promoting you, to retain you.
However, many people today hate working hard at their jobs, and still expect to rise to senior positions. If you are one of them, kindly forget this method as a means to millionaire-hood.
2.Investing in Businesses While Working For Another Person
Some individuals became millionaires by investing in various businesses while working their day jobs.
However, this method is also hard because you’ll have to find time for managing your investments. People who became millionaires through this method seldom slept because they had to work for their bosses and still manage their investments.
3.Starting Your Own Company
You can become a millionaire by starting a company and giving it all you’ve got.
The hard part of this method is that it will eventually require you to quit your job if you have one because starting a million-dollar company from scratch requires a large part of your time. You have to work day and night.
Also, you might fail to receive profits in the first few years. For instance, Jack Ma’s company, Alibaba, never received profits in its first three years.
4.Using Your Talent
Some people have used their talents to get rich. Musicians, like Eminem (Net worth-$190 Million), Dolly Parton (Net worth-$ 500 Million), and Lil-Wayne (Net worth-$150 Million), have earned millions of dollars from their music. Besides musicians, some actors and sportsmen have made millions from their talents.
This path to riches seems easy, but it’s also hard because you’ll have to discover your talent, and work on it. Moreover, you’ll have to withstand earning few or no dollars for a long period before you become rich.
This method also requires you to be humble in the early stages of your career. For example, in the beginning phases of her acting career, the ‘Game of Thrones,’ actress, Emilia Clark, had to accept roles that many beginning actors rejected. She appeared in commercials, and played old ladies and prostitutes.
Besides humility, for you to earn huge money from your talent, you have to perfect it and become the best of the best.
I believe you’ve noticed that none of the 4 methods is easy. They all require hard work and extraordinary levels of determination.
Riches don’t come easy, and that’s why only 1 percent of the world’s population is above the million-dollar mark.
In the USA only 14,814, 453 people out of 325,000,000 individuals are millionaires ($ 1 Million dollars and above) while in Kenya, around 9,000 people out of 47,000,000 people are millionaires.
I believe we can reach the millionaire status if we are determined, and if we push each other harder. SEE YOU AT THE TOP
Thank You for reading.
If you have any other methods of becoming rich, you are free to list them in the comment box below. Feel free to disagree.
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The 5 Major Stages You Must Go Through When Chasing Your Dreams
After studying the biographies of many successful folks, I realized that all of them went through the same stages of dream chasing regardless of their socio-economic status. I summarized these stages into five stages which I believe you’ll also go through if you are chasing your dreams.
Here are they:
Stage 1 – Idea
Here, you’ll give birth to a great idea that you’ll want to turn into reality. For instance, if you are an aspiring writer, you’ll want to turn your thoughts into a best-selling book, and if you are an aspiring entrepreneur, you’ll discover a wonderful business idea which you’ll want to turn into a successful company.
Stage 2 – Enthusiasm
After discovering the idea, you’ll visualize the life you’ll live when you’ll achieve your dreams, and you’ll tell your friends and family about this life. You’ll then research on how you’ll turn your idea into reality, and you’ll start working enthusiastically because you’ll want to live your dream as soon as possible.
Stage 3 – Disappointment
After working for a period of 6 – 18 months, you’ll be disappointed because you’ll make little progress despite working hard. For instance, if you are an aspiring vlogger, you’ll realize that getting 10,000 subscribers is not easy, or if you are an aspiring entrepreneur, you’ll be disappointed because your business might fail to make profits.
Besides this, you’ll realize that dream chasing demands funding, and that few people are willing to support you. Primarily, you’ll realize that it might take longer to achieve your dreams. These challenges will make you want to give up.
Most people quit chasing their dreams at this stage.
Stage 4 – Perseverance
If you really want to achieve your dreams, you’ll decide to persevere. You’ll face obstacles fearlessly, and you’ll commit yourself to overcoming them. Besides, you’ll avoid everything and everyone that might prevent you from achieving your dreams. Also, rejection, failure, and naysayers won’t stop you from working hard.
You’ll also realize that only those who persevere achieve their dreams, and you’ll work like hell. Moreover, you’ll strive to make the journey enjoyable so that you don’t give up.
Most folks make their journey enjoyable by making friends with like-minded people.
Stage 5 – Success
After working for a long period without quitting, you’ll become highly skilled, and many people will love your services/products. If you are a writer, many people will be willing to buy your books, and if you are a businessman, people will be interested in your products. You’ll then use the money you’ll earn to buy whatever you want and travel wherever you want. You’ll be so fulfilled.
It’s easy to dream, but difficult to achieve dreams. Most people quit when they realize they’ll have to work for a long period before they achieve their dreams. Only those who persevere succeed because they never give up. We must thus join the perseverers if we want to boost the chances of achieving our dreams.
SEE YOU AT THE TOP
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Top 6 Reasons Most People Can’t Persevere on the Journey to Success
Perseverance refers to the ability to work persistently towards one’s goals despite facing difficulties.
After studying successful people for five years, I realized they all persevered since they never gave up despite facing obstacles. Nothing stopped them from working towards their dreams.
Besides successful folks, we can also persevere, but most people can’t because of the following reasons.
1.People Don’t Study Success
Studying success enlightens you that difficulties, failure, or discouragement are part of the journey hence enabling you to work in spite of their presence. Moreover, studying success shows you that only those who persist succeed hence motivating you to persevere.
2.The Lack of Self-Confidence
Most people can’t persevere because they lack self-confidence. They doubt their abilities and skills and give up easily when they face obstacles.
Successful people persevered because they believed in themselves. They believed they could overcome obstacles and thus continued working towards their goals when obstacles arrived.
3.The Myth of Overnight Success
The myth of overnight success has resulted in the inability to persevere because it makes people think success comes easily. This myth has made aspirers believe success arrives soon after they start working towards it. For this reason, most aspirers give up when they realize that they’ll have to work for a long period and overcome several difficulties before success arrives.
4.People focus on the Outcome
Most individuals can’t persevere because they focus on the outcome. It’s hard to persevere when you focus on the results because it usually takes long before we get the results we expect. People who persevere, focus on the process instead of the results. They know they’ll get the results they want if they forget about them and work on their skills.
5.The Lack of Passion
People who hate their work seldom persevere because they focus on results and misinterpret difficulties. Furthermore, they easily get bored with their work hence making it difficult to work when they face obstacles. Conversely, passionate people persevere because they are obsessed with their work and perceive difficulty as a chance for growth.
6.Focusing on the Possibility of Failure
Focusing on the possibility of failure prevents people from persevering because it discourages them from working towards their goals when they face difficulties.
Most successful people focused on success: they believed they’ll succeed no matter what, and this belief motivated them to continue working in spite of discouragement.
It’s easier for people to work towards their goals when everything is going well. However, most people get discouraged when the going gets tough. The ability to work when it gets tough is what sets successful people apart. We must, therefore, master the art of perseverance.
If you don’t give up you can’t fail.’ – Menna Vaan Praag, Successful Author
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