How can I make myself a millionaire?
Be a millionaire in 3–7yrs
Start your own everyday type business;
- You do not need a new or innovative idea
- You do not need your own money, I was broke when I started my business, but raised $300,000 which my salary was payed out of too.
- There is lots of free help….mentors and classes (free or cheap)
You need to read:This book showed me how to do it.
Become a millionaire
There are three personality traits common in billionaires that are key to entrepreneurial success:
Smart risk-taking: Many of us don’t have this quality. We take on a lot risk, by taking chances on penny stocks or by chasing overpriced high-flying stocks or buying lottery tickets. Instead, we need to embrace rational risk, where there’s a decent chance of success. We might reduce risk, too, by seeking undervalued investments that offer greater margins of safety.
Instinct for asymmetrical opportunities: This is described as seeing opportunities that others would pass up but that you might profit from because of your unique skills or knowledge. This is often how great businesses are born, when someone dares to tackle a problem or improve the status quo because they can.
Recovery from failure: This is also critical, because too many people just quit after a defeat or two. If you give up on stock investing after a market crash, you’re being short-sighted, because the market tends to rise, just not in a straight line. If your book is rejected by a publisher, keep trying other publishers — or other books. If your business suffers a huge setback, see how you might keep going.
If you’re thinking you’re probably not going to become a billionaire, take heart: You may be able to become a millionaire instead, which is still pretty good.
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