The Skills Required
There are very few excuses for not becoming a millionaire, it is simply learning the steps required that will take you in the direction of a millionaire’s mindset. Some people may have physical or mental elements that may prevent or at least make it harder to achieve the skill sets, but being from a poor family we’re only getting average grades in school is not valid excuse.
Remember money in a capitalist environment circulates, it never stays in one place and goes through the hands of thousands of people. The one who builds wealth are the ones that know what to do with that money when it’s in their hands, how can they grow it and retain it. Some of that money is going to find itself back in circulation because the wealthy person has used some of it to grow and attract more money in their direction. This is how capitalism works.
Millionaires all have a similar set of skills that they master, this is consistent no matter if it’s a male or female or what advantages or disadvantages they started out with in life.
In this article, we’re gonna talk about all these different skill sets that are required and then you have to make the decision if you’re going to act on them or just listen. Action is the key component here, you can be the best academic in the world where are you listen and retain the knowledge but if you don’t take action on it’s useless.
The Art Of Leverage
Millionaires learn the art of leverage, the sooner you learn that you need a team to accomplish anything really great, the faster you were going to become a millionaire.
Business is a team sport, I just had a really high GPA and only focussed on school work typically have a hard time with this, we’re guys who did OK in school play some sports typically find this part really easy but are used to surrounding themselves with the team and building off of that.
Really smart people, who know they’re smart to have a really hard time realizing board meeting that they need help. If you’re going to be in business the sooner you realize the business is a team sport the sooner you’re going to start making money.
Remember anybody, and I mean anybody can learn the skill sets needed to become a millionaire, realizing that business is a team sport is one of those skills required.
Remember you have to learn to build leverage not only in team building but also in marketing, branding, software, recruiting, sales and social media. Leverage is in everything you do as a millionaire.
The art of persuasion
Becoming a millionaire is not an easy path, it takes a lot of dedication and support from your family, friends, and peers, Learning how to persuade these people to help you with your success is a critical skill, take some of these examples.
You first have to persuade your parents, wife, and friends to support you in becoming a millionaire, you have to persuade employees to come work with you when you’re small and your company doesn’t have a lot of value yet, you have to persuade investors to trust you and your vision when raising capital, you have to persuade sales people to push your product or brand because there’s something special about it. You have to learn to persuade vendors to give you the best deals, you have to persuade your customer on why your product is what they are looking for when it doesn’t yet have the brand recognition for an easy sale. And finally you got a learn to persuade yourself, but you have the skill set and the means to accomplish your goals.
Learning to read people
Becoming a successful millionaire is a series of hard lessons but you’re gonna learn, learning to read people comes from experience, and those experiences are typically not fun. On the road to becoming a millionaire people are going to lie to you, cheat you, stab you in the back, and generally not have your interest at heart. You’ll learn to pick up those signals over time that shows the person you’re dealing with today had a lot of the same traits of the person you cheated you before and you’ll use caution when dealing with that person.
Learning how to read people includes customers, suppliers, investors and employees. If you been doing this a while and you have a bad feeling about somebody there’s probably a reason, and that’s experience.
Some people are going to embellish on their accomplishments or skill sets, you have to learn to read them and understand that they are full of it and use caution when dealing with them.
Learning to read people isn’t all about the bad side of things, you also have to learn how to read people who are truly gifted with certain skill sets, or if you have done something that is offended them you have to learn how to read that so you can correct the action. You have to learn how to read what a customer needs, it might just be encouragement or a compliment turns them from a prospect into a customer, but you have to learn how to read that situation.
You have to learn how to read people that are working within your company, what they are thinking. Remember you were also at that level up one time and had a different mindset of how the company was run and your place in it. Learn to understand what their goals are and how you can help them achieve them well benefiting your company or at least not harming it at the same time. Learn to give them the belief system that they require to get to the next level, remember they’re trying to build their life also.
Create Wealth For Yourself By Creating Wealth For Others
On your path to becoming a millionaire you are not only creating wealth for yourself, you have to learn and understand how to create wealth for many people.
Let’s take for example Microsoft, importantly bill gates one of the richest man on the planet today. Microsoft did not just make Bill Gates rich and nobody else, many other people along the path of Bill gates becoming a billionaire got extremely wealthy. Microsoft has many investors Who believed in the product early and became extremely wealthy because of it, many executives who helped take the company to that level became extremely wealthy because of it, many software developers who partnered with Microsoft became extremely wealthy because of it.
This is a small example of what a millionaire has to understand and skill they have to master if they want to be successful. You cannot be successful by yourself unless you were simply scamming people. You need to learn to share your wealth to become a millionaire.
Think about it, if every time somebody goes into business with you and they make money, they are going to want to constantly go into business with you. Success breeds success, building lasting business relationships and sharing that wealth is vital to becoming a millionaire.
You’re always going to be those outliers who create, develop and build a successful business seemingly without other people involved, but I guarantee there are other people building wealth off of that product or service or it wouldn’t exist.
Learning To Recruit
Recruiting as a millionaire is not just about finding employees. I was a millionaire you should be recruiting everybody, whether it’s executives, media platforms, vendors who are selling new products, talent, and even friends who want to go to business with you. You also recruit associations such as other high energy successful people, this is not to sell them anything but to have that association we can bounce ideas back-and-forth.
You need to recruit other millionaires as mentors, they may have already learned skills that you’re still working on. Millionaires are usually always willing to share their stories and their successes with people who are also striving to be successful.
The Millionnaire has to be incredible at networking, connecting with other people on many levels. As a millionaire, you’re always thinking that you are recruiting step away from increasing or even doubling your revenue. This is all part of recruiting.
What is the last book you read on networking or recruiting?
As a millionaire, you need to learn the skill of recruiting and build it into your mindset so that you were never being sold but you are always recruiting the people that you want to work with or products you want to be associated with.
Millionaires have to learn how to be problem solvers.
As a millionaire you have to learn the skill set of solving problems, new challenges are going to come up every day and having the skill to be able to look at that challenge andcreate a game plan to overcome it is a major skill for the millionaire. Challenges the team on whats achievable to most people are quickly sorted out with a game plan by millionaires, you’re mediately say call this person or that person, take the step or that step.
The millionnaire will always look at the challenge and develop a game plan on how to deal with it to minimize their exposure or even capitalize on it.
Once you are in a position of even moderate success people will start to bring you ideas of things are you should act on, as a millionnaire you have to process all these ideas and decide which ones are truly good for you and which ones are not. You have to learn how to say no, and overtime you’ll learn that you say no at least 90% of the time. Time and resources are extremely valuable and the millionnaire has to know when to act and when to say no.
Skill of time management
Many things of been written on the subject over the years, and to become a millionnaire you need to fully understand it, but it is not a difficult thing to understand, let me break it down for you.
If you’re spending a lot of time on video games, Snapchat, your yahoo news feed, Facebook and you’re not putting a lot of time into selling, networking, recruiting, prospecting, creating valuable content, brainstorming new ideas, then you’re wasting time.
Time management is also about learning how to make a 30 minute phone call into a 20 minute phone call or The two hour appointment into a one hour appointment. Learn to leav an effective short message if you can’t reach your contact. The millionnaire also has to learn when not to put time constraints on an action such as relationship building or prospecting. The other side of time management is knowing when to spend more time on that action because it is valuable.
Time management is very easy to understand but sometimes hard to implement, learning the skill is essential for the millionaire. When you become good at this game you’ll find that you have more than enough time for your work week, relationship building, prospecting and most importantly your family.
Learn To Spend At The Right Time On The Right Things
On the path to becoming a millionnaire everything is risk and you have to learn how to manage money. You only have so much resources, so managing those resources is incredibly important.
Knowing when or when you cannot afford to purchase something is critical, don’t look to reward yourself too early, put your resources back into your business and build it.
Just because you can afford to buy that house her new car doesn’t mean that you should, you need to learn how to properly use the resources available to you to build your business first, millionaires know this instead of using that $50,000 to purchase a new car they will take that $50,000 and turn it into $150,000 or $500,000.
Keeping the money in the bank instead of spending it before you need to is what keeps entrepreneurs and potential millionaires from reaching their goals. You need cash in order to build your business, start to think with a stingy even cheap mindset. Then when the opportunities present themselves due to your networking and relationship building you will have the cash to act on them.
Patience is another skill of the millionaire.
What I mean by this is that everything isn’t going to happen overnight and you have to learn to have patience while you work on becoming a millionaire. Many people are well on their way when they run out of patience and fall off the path that is leading them to becoming a millionaire.
People want instant gratification and think that they deserve the rewards too soon, learn to have the patients that allows you to build your skills, network and cash flow required to becoming a millionnaire and it will happen for you. This is a process, follow the steps and combine that with a strong work ethic and anyone can become a millionaire.
Patience is the realization that you are working hard building your sales funnel, always adding new people, relationships and associations, knowing that all the seeds you plant today will eventually come to harvest. Networking and relationship building is planting the seeds the patients is where you water and fertilize them until they’re ready to be harvested.
When you work in this fashion you know that something is going to happen at any moment you just have to have the patience to allow the process to for fulfill on itself.
Learn To Love Learning
Remember earlier in this article when we discussed it doesn’t matter what your background is, whether you’re born rich, poor, extremely smart or you just got average grades in school? Well the most important skill for any millionnaire is learning.
If you don’t have a learning mindset you are never going to become a millionnaire unless you get extremely lucky, at which time you’ll probably quickly lose your millions. Learning to learn is not only an important skill set it is very rewarding, The feeling that you will have once you accomplish a new skill is unlike anything other you will experience in life. Remember when you learned how to ride a bicycle as a kid and how great it felt, or learning to read a book and all of a sudden be taken into another world on those pages.
Millionaires know that they constantly have to be learning to improve their skills, whether it’s in networking, marketing, sales, recruiting, accounting or money management, improving your skill set is required to become a millionaire. Pick up a new book today and instead of playing that video game for an hour build on your skill set but it’s going to create wealth for your future. Learning comes in many forms, sometimes it’s going to be from a mentor that you’ve met through recruiting and relationship building, sometimes it’s even a YouTube video series where you’re following a mentor that you’ve never met.
There’s always room for improving your skills sets, learn the joy of learning and make this a daily ritual.
Be A Goalsetter
Finally, the last advice I’m gonna discuss on the path to becoming a millionnaire is goalsetting.
If you don’t have a target you’re never going to get it! This couldn’t be further from the truth, if you don’t set a goal or target to achieve then you’re just floundering in the wind.
Set a goal every day such as: I’m going to make 50 phone calls today, that’s going to turn into 10 prospects, which will turn into one sale. The next day improve on their goal, make 75 phone calls the turns into 15 prospects and two sales. You need to always be building on your goals well you improve your skills. Have a daily, weekly, monthly and, yearly goals that you want to achieve, then break that goal!
Goals are to only apply to sales, you also need to set goals in other areas such as marketing. Last month your marketing efforts resulted in 50 phone calls, so this month we want to improve on our marketing skills and increase that to 100 phone calls resulting from our new marketing efforts. How much money did we spend last month recruiting new members, was it $10,000, well this month we’re going to recruit the same amount of members but only spend $8000. We can achieve these goals because we’ve increased our skill set that makes us more efficient.
By maintaining this mindset you’ll notice that every area of your life is improving, your skill set is increasing and your goals are getting higher and higher.
Take Massive Action
Now your challenge is to take massive action on this knowledge. Just reading or listening is not going to build wealth and turn you into a millionaire.
Take action today and every day that follows that, create new goals and remember that a millionaire’s number one attribute his work ethic. Be that person that put in the extra hour day, but is always looking for another opportunity to network or increase their skill set and before you know it you will be a millionaire.