Do you have the strong desire to be a millionaire? Do you have the attributes to become a millionaire?
Having a desire to be rich is a first step to become a millionaire. Desire alone, however, is not enough to ensure that you will become a millionaire. You must have the attributes to become a millionaire.
What are some of the attributes that you need?
First of all, you must be willing to put in the effort to become a millionaire. You must be committed to turn the millionaire dream into a reality.
Becoming a millionaire is not an impossible dream. So many people have reached the stage of a millionaire. Many of these go on to become a billionaire.
Most of the self-made millionaires become rich not by luck. Many millionaires become rich by making the commitment and put in a lot of effort into their work.
To become a millionaire, you must possess a commitment not to give up when the path is getting tougher and tougher. Never give up till your dream is fulfilled.
The next step is to know your strengths and weaknesses. You have to know what you are good at. None of the billionaires and millionaires knows everything. It is not possible to be good at everything. All billionaires and millionaires are imperfect persons. They are good at something and bad at something.
The key to become a millionaire is to know what your strengths are, and to know how to make full use of your strengths. You have to know where your weaknesses are. You have to find ways to complement your weak points.
Assuming that you are bad at selling but you are good at technical stuff. You have to make use of your technical knowledge to make you rich. You have to get someone extremely good at selling to help you. The partnership will make both of you into millionaires.
When you know how to get rich, you must be committed to put in a lot of time and effort. Millionaires do not become millionaires by working only three hours a week. In the initial stage, they put in longer hours that their employees. They become millionaires by making personal sacrifices and long hours of work.
Another very important attribute is the ability to set realistic goals. Goals are measurable achievements. You want to be a millionaire. That is your dream and your goal.
When you set the target of becoming a millionaire in ten years’ time, the dream of becoming a millionaire becomes a realistic goal. You have planned the long term target. You can break the long term goal into smaller short term goals.
You should write down your goal to remind you of your dream. You should not change your goal everyday. You should follow as closely as possible to the goal of becoming a millionaire.
All self made billionaires and millionaires know how to make more money than they spend. They know how to make a lot of money from different sources. Many millionaires make money from their businesses or their employments. That is one source of their income.
They learn to make money by investing. Some of them take on additional works to increase their income. If they are working full time, they find another high paying part time work. They may work as part time lecturers and consultants.
A second income job need not be minimum salary job at some fast food restaurants. The part time work can bring in as much money as full time employment.
They learn to buy assets that can give them a flow of passive income. The passive income includes rental income, royalties from publishing their books, their dividends and interest income from stock and bond investments.
All self made billionaires and millionaires know how to spend money wisely. They do not need to show off their wealth. They do not need to buy a flashy car just to show their neighbors how rich they are. They are not keen to pour their hard earned money into depreciating assets.
They are keen to spend money on quality products. They are keen to spend money on assets that will appreciate in value, and make them richer.
The billionaires and millionaires do not need to spend money to impress people. They are confident of their abilities to make money. They are not discouraged by people who make negative remarks of their abilities.
Money does speak. When money talks, everyone stops and listens. The billionaires and millionaires have enough money to speak for them.
Do you desire to join the rank of the millionaires? It is a long journey with a difficult start. You can become a millionaire if you are willing to embark on the journey, and more importantly, to stay on the journey till the end.
Scheng1 is a passionate blogger from Singapore. Rich in every sense reveals my deep desire in enjoying life, and be rich in every possible ways.