6 Steps in Business That can make you a Millionaire by Age 30
Getting rich and becoming a millionaire is viewed as a very difficult feat. But saying it can be achieved by the age of 30 seems like a fantasy. Here are ten steps that will guarantee you achieving this goal.
1. Save to Invest.
Let your only reason to save money be to invest it. Keep your saved money in secure, untouchable accounts. Untouchable in that these accounts should not be used for anything, not even an emergency. Simply having a savings account isn’t enough, but it is a good start. When saving it is important to remember to save to invest, not save to save. Look into ways in which you can get started creating a portfolio of investments for yourself. Do not waste money on luxury items, such as expensive vehicles and mansions. They purchase generic brand items and even use coupons. By being frugal, you can save a countless amount of money that could be put towards paying down your debt or put towards your investments.
2. Think Big.
Cardone stated that “The single biggest financial mistake I’ve made was not thinking big enough,” “I encourage you to go for more than a million. There is no shortage of money on this planet, only a shortage of people thinking big enough.” To become a millionaire from scratch, you must end the poverty thinking. There is no shortage of money, just a shortage of people thinking big enough. Investing is the backbone to do the other steps so let your money work for you and do your heavy lifting.
3. Create Multiple Flows of Income.
With today’s economic environment, you cannot save your way to millionaire status. The first step is to focus on increasing your income in increments and repeating that. And this can only be done by creating multiple flows of Income
4. Get a mentor. Preferably a millionaire.
Most of us have the middle class or poor financial class mentality and then confine ourselves to the limits and ideas of that group. Study millionaires so as to duplicate what they did. Get your own personal millionaire mentor and study them. They are usually extremely generous with their knowledge and their resources.
5. It is all about Hard work.
Money doesn’t know about clocks, schedules or holidays, and you shouldn’t either. Money loves people that have a great work ethic. Never try to be the smartest or luckiest person. Just make sure you outwork everyone.
6. Learn Sales and Marketing.
You don’t have to be the best at marketing, you just need to know enough to get the job done. Once you do, sales will be your focus. Build your audience. Build credibility. Be as consistent as possible. No one is going to hand you a million. It is their belief in your ability that will make them want to invest in you.
7. Side Hustle
Having multiple streams of income is one of the best ways to ensure that you can become a millionaire since it can help you pay off debt or be placed into your savings. Even if you have a full-time job, there are numerous ways that you can make money on the side by finding a part-time gig, starting a side-business, or selling all of that excessive junk in your garage.
Steer clear of unproductive people. Avoid get-rich-quick schemes, be ethical, never give up. Remember though, once you make it, be willing to help others get there too.