Many people wish to be millionaires, yet most people never make it to millionaire status. Others become millionaires only to lose their entire fortunes. This can be attributed to a number of reasons. Often, it is because they don’t have a millionaire’s mindset or have not practiced the seven habits of highly successful millionaires. Whatever may be your reason for wanting to become a millionaire, you should develop the following habits:
1. Always look for ways to improve things and processes
In one word, this is referred to as “innovation”. Innovation has given rise not only to many millionaires, but to many billionaires as well. When two Stanford Ph.D. students, Sergey Brin and Larry Page, wondered if there was a better way to link pages on the internet, they formed Google and became billionaires. Google was simply born out of trying to improve the search experience of internet users. Every day, make it your business to make things better than they are and one day you will surely reach millionaire status.
2. Doing more than what you are paid to do
People will always prefer to do business with someone who always delivers more than what is expected. A person who forms the habit of exceeding expectations will always find plenty of business opportunities since he/she has proved to be resourceful and reliable.
Related: 20 Interesting Habits of Rich People
3. Embrace your originality
Being original does not mean doing something extraordinary, it simply means trusting yourself and being the best version of yourself. Many times, people go through life as mediocrities and fail to unleash their full potential because they lack originality. If everyone tried to be someone else and everything was done in the same way unquestioningly, then nothing new would ever be invented. For instance, if Bill Gates had not dropped out of Harvard when he did, it would have taken him a considerably longer time to become a billionaire. What is even more interesting is that we probably would not have Microsoft if Bill chose to seek traditional employment rather than start his own company. This is why it is important to follow your own path if you intend to be a successful millionaire.
4. Be ready to make great effort and sacrifices
One of the reasons why people fail to reach the mountaintop of success is their unwillingness to put in more effort or make personal sacrifices. Success of any kind can never be achieved without the element of sacrifice. Put in a different way, sacrifice and effort are the price you must pay in order to attain success. The amount of success you will achieve in your quest to be a millionaire will be in direct proportion to your effort and the sacrifices you make. It is this reason that you should be ready to make great sacrifices with an open heart.
5. Be positive and think positive thoughts in everything you do
Time and again, philosophers have stated the importance of having a positive attitude towards life. You should think positively because this will bring you positive results. Decades ago, Holocaust survivor and prominent psychiatrist, Viktor Frankl, discovered that the primary factor determining a person’s survival in Nazi death camps was his attitude towards his circumstance and his hope. Thinking positively will ensure you do not give up when the future seems bleak.
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6. Focus more on quality rather than quantity
An interesting thing about the world we live in is that it is easier to get rich based on quality than quantity. For instance, many people are ready to fork out large chunks of money to buy highly priced Apple products. This is not because they are spendthrifts, but rather because they value the quality of Apple products. It would be prudent for any aspiring millionaire to get into the habit of producing quality products or providing quality service to create value for your customers. Once you learn to create value for others then riches will follow.
7. Get into the habit of saving
How can you be a millionaire if you never save? Having sufficient savings is a great insurance against failure and can never be overemphasized. Many businesses fail every year simply because they do not have money to keep them afloat in difficult times. Maintaining reasonable reserves will help your business survive during lean times. Developing the habit of saving also enables you to take advantage of unforeseen opportunities so that you can take early advantage of investments or developments when others are still gathering up their resources. This habit will be indispensable in your quest to become a millionaire.
Related: 10 Things to Stop Buying, and Doing, to Save Money
This list is not meant to be exhaustive but is rather intended as a guide for people who want to master the habits shared by successful millionaires. It is also meant for people who have acquired millionaire status but would like to know how to safeguard their wealth. Form these habits and you will find yourself swept into riches.