I always wonder how some folks manage to reach the Millionaire Status while a large percentage of the world’s population struggles with financial difficulties.
For this reason, I usually spend a large part of my time studying the self-made millionaires’ biographies to check how these individuals reached massive levels of financial success.
From their biographies, I realized the 4 main ways to become a million-dollar millionaire.
- 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 they 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, therefore, one good way to become 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 have to enjoy working for your company so much that you use your free days working. Besides this, he teaches that you have to treat the company as if it’s yours, and you always have to be the first one to arrive and the last to leave.
If you work so hard, you’ll be highly skilled in whatever you do, and your firm will do anything, including promoting you so that it retains you.
I wonder how today many people hate working hard for their employers, and still expect to rise to high positions. If you are one of them, kindly forget this method as a means to ‘millionare-hood.’
- Investing in Businesses While Still Working For Another Person
Some individuals have become millionaires by investing a large percentage of their incomes in various businesses.
If you can’t climb the corporate ladder, you can, therefore, invest your income in businesses or stocks.
However, this method is also hard because you’ll always have to find time for managing your investments. People who became millionaires through this method rarely slept because they had to work for both their bosses and still manage their investments.
It’s hard to work on different things. However, it’s not impossible because there are some people out there doing it. If they can do it, why not us? Why? I don’t see why.
- Starting Your Own Company
You can become a millionaire by starting a company and giving it all you 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 for the company 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.
You have to have high levels of confidence in your company for you to dedicate all your efforts to it without realizing profits in its early stages.
- Using Your Talent
Some people have used their talents to enter millionaire-hood. Musicians, like Eminem (Net worth-$190 Million), Dolly Parton (Net worth-$ 500 Million), and Lil-Wayne (Net worth-$150 Million), have earned millions of dollars from their music. Besides musicians, some actors and sportsmen have also made millions from their talents.
This path to riches often seems easy, but it’s also a hard method. You’ll have to find your talent, and start working on it. And, you’ll have to withstand earning few or no dollars for a long period before you become rich and famous.
This method also requires you to be very humble in the beginning stages of your career. For example, in the beginning phases of her acting career, the ‘Game of Thrones,’ actress, Emilia Clark had to accept roles that many beginning actors would have rejected. She appeared in commercials, and she also played old ladies and prostitutes.
Besides humility, for you to earn huge money from your talent, you have to work very hard on perfecting it. You have to become the best of the best for you to get noticed.
For this reason, many people give up on this method because of the amount of hard work, and humility it requires.
I believe you have noticed that none of the 4 methods is easy. They all require hard work and extraordinary levels of determination.
Riches don’t come easily, and that’s why only 1 percent of the world’s population is above the million-dollar mark.
In the USA only 14,814, 453 people out of 325,000,000 individuals are millionaires ($ 1 Million dollars and above) while in Kenya, around 9,000 people out of 47,000,000 people are millionaires.
However, I believe that we too can reach the millionaire status if we are determined, and if we decide not to discourage each other, but to push each other harder. I hope we’ll meet 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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5 Powerful Reasons Why Passion is a Key to Success
I once believed that we don’t need passion to succeed. However, when I started blogging, I realized that passion is a key to success. I noticed that my passion for blogging made me write articles consistently.
Besides this, my research on successful people enlightened me that successful people are passionate about their jobs. They work 24/7 because they enjoy and love their work.
These findings forced me to think deeply about the relationship between passion and success hence making me realize that passion leads to success because it:
1.Makes it Hard for You to Give Up
It will be hard for you to give up on something when you are passionate because you won’t care about the results. You’ll only care about doing your thing, and you’ll do it even when you don’t get the desired results. For instance, if you love singing, you’ll continue singing even when you only have 5 views on Youtube.
2.Makes You a Hard Worker
Passion makes you work more hours because it makes you obsessed with your work. You’ll want to work whenever you find time because you love your work. Besides this, when you are passionate, you’ll work long hours because you won’t be able to tell the difference between work and play. For you, working will be playing.
3.Changes Your Attitudes Towards Difficulties
People who aren’t passionate about their jobs have a negative attitude towards obstacles. They either see them as threats or messages from the universe that they’ll never succeed.
However, passionate people perceive obstacles as an opportunity for growth. They are always eager to overcome them, and they believe they’ll become better at their craft after overcoming obstacles.
4.Prevents You From Wasting Time
If you do what you love, you’ll be obsessed with work because you’ll be excited about it. For this reason, you’ll want to spend most of your time working, and you’ll avoid wasting time on useless activities such as gossiping or liking and commenting on Facebook posts all day.
Passion leads to obsession, which breeds focus. Focus leads to success because it increases the quality of your work as it makes you more skilled and knowledgeable. Besides this, focus prevents you from making mistakes and breeds consistency hence increasing your chances of succeeding.
People who don’t like their jobs seldom succeed because they mostly focus on getting things done. Moreover, they never reach great heights because they usually lack the motivation to improve their skills. However, passionate people have high chances of succeeding because passion increases focus, motivates them to work hard, and changes their attitude towards difficulties. And, lastly, it makes them want to work all the time hence forcing them to avoid time wasting activities.
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5 Powerful Success Lessons We Can Learn From Benjamin Franklin
I admire Benjamin Franklin because he succeeded in many fields. He was a successful politician, author, inventor, scientist
After studying his life for a while, I realized powerful success lessons we can learn from this Great Man
‘From a child I was fond of reading, and all the little money that came into my hands was ever laid out in books.’ – Benjamin Franklin
Many successful people believe that reading breeds success because it leads to the accumulation of knowledge useful for succeeding. Maybe Benjamin Franklin knew this because he read a lot. He loved reading so much that he read his father’s religious texts because they were the main books his father possessed. His obsession with reading forced his father, Josiah Franklin, to apprentice him to a printer. Many scholars agree that his reading habit played a great role in making him a great man.
2.Never Ever Wait For The Right Moment
If you want to do something, do it. Never wait for the universe to perfectly arrange things for you before you take action
In 1721, Benjamin Franklin’s brother founded a newspaper. Benjamin Franklin became highly interested in participating in the newspaper, but he believed his position would prevent his brother from allowing him to write. However, instead of waiting for his brother’s permission, he wrote letters and anonymously placed them in his brother’s print shop. People liked the letters so much that they wanted to know him.
Benjamin Franklin never waited for the right moment. He took action when he had an idea and his audacity paid off.
3.Associate With People With Similar Interests
You can progress quickly if you associate with people with similar interests because these folks will help you learn a lot about your field.
Benjamin Franklin knew this principle because he formed an association of aspiring artists and entrepreneurs when he was 21 years old. The association enabled Benjamin to become a better artist and businessman as its members regularly discussed
4.Failure is Inevitable
All successful people including Benjamin Franklin failed on their way to success. Despite becoming one of America’s founding fathers, some of Benjamin Franklin’s political proposals were ignored. Furthermore, despite becoming a well-known author, some of his publications failed.
Benjamin Franklin understood that failure is part of success, and he continued writing and formulating more political proposals. He eventually became a successful politician and author.
5.Work, Work and Work
It’s said that Benjamin Franklin was obsessed with work. His biography reveals how he woke up early to work long hours. Besides this, some of his famous quotes such as ‘laziness makes things difficult, and hard work makes things easier’ proved he believed in a strong work-ethic.
Benjamin Franklin knew that his strong work-ethic played a huge role in making him succeed. In his famous essay, The Way to Wealth, he wrote, ‘If You Are Hardworking, You Will Never Starve.’
Just like other successful folks, Franklin was an ordinary individual who adopted the features of successful people. We can also adopt these features to guarantee a marvelous future.
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