Getting wealthy and being a millionaire has become a no go area topic for this generation and attaining that height at a young age of say 30 years is commonly tagged as a “day dreaming”.
From the obvious, it is a fact that many have attained that
height and not only attaining it, they did so at a very young age of about 21
years of age. This shows that it is certainly possible to hit that target.
Hi everyone, my name is Timileyin and I’m going to be
sharing with you guys 8 steps I took to become a millionaire. Read closely step
by step and apply them too and you will be a millionaire by the age 30 or
The number one step is to –
FOLLOW THE MONEY
There is one thing you should recognize, and that thing is
that you cannot save your way into being a millionaire, you have to focus on
increasing your assets and income and doing those things repeatedly for you to
realize and maximize profit.
In a nut shell, start following and monitoring the money
from your income to your investments to your assets and so on then you will
eventually see results and more opportunities. Sol Luckman said it right “ it
takes money to make money……….”
The second step is to –
NOT SHOW OFF BUT SHOW UP
Yes, I know I’m hitting some nerves here. When you are just
starting a business or generally as a business person, you need to watch how
you spend. Just as the great and popular saying goes “spend less than you
earn”. This simple phrase can make many wrong things right in your life.
You need to understand that if you treat you finances well
they will treat you well in return but if you don’t, well it’s the opposite
that will most often than not happen.
In a nut shell, you don’t have to live a super luxurious
lifestyle when your income channel is not high, focus on the growth of your
business and expand your income channels then when you have a wide range of
income flow, you can then start showing off if you feel like.
The third step is to –
SAVE TO INVEST AND NOT SAVING TO SAVE
This third step is a bit spicy in the sense that it
encourages you to make your money mobile by investing it and not just stocking
it up in a bank or wherever you want.
Now, to realize more cash, you have to let your money work for you and one major way to do that is by investing it wisely.
There are different ways of investing it either by buying shares, or acquiring an appreciable asset like a land which will increase in value after some years or whatever investment plan you are exposed to.
This particular step indirectly points back to the first
step which talks about following your money.
The fourth step is to –
STAY OFF DEBTS THAT DECLINES YOUR CASH FLOW
In the business world, most often than not, most businesses
run on the funds from banks for their big projects and thereby generate debts
to pay in the progress, while making those transactions, ensure you do your
background study well to avoid falling into bad debts
The fifth step is to –
TREAT MONEY LIKE ITS YOUR PRIORITY
To enjoy business and financial wealth, you have to ensure
that you stay on top of your game, you are always aware of every transaction
made, why it was made and where the money is going, be a jealous lover.
The bottom line is for you to be accountable for every
action carried out during transactions.
The six step is to –
WORK HARDER AND SMARTER THAN YOUR COMPETITORS
This is step centers on your ability to be tenacious and
also being able to push yourself harder even when it’s hard to do so.
You may have competitors who have been in the game way longer
than you, all you have to do is to be smart. Sometimes you have to stay way
longer at work just to achieve your target and in the long run, you will see
the effect in your output.
The seventh step is –
BEING POOR ALSO COUNTS
This may not sound like a step but its surely helpful in the sense that when you are broke, that is when your management skills tend to become more obvious and we get really prudent with our spending.
This helps many at times because many wants to come out of that state of being broke and if any opportunity comes, they will utilize it maximally.
The eighth step is to –
GET A MENTOR
Sir Isaac Newton said it well, “if I have seen any better, it’s
because I stood on the shoulders of those before me (giants)”.
You many at times don’t know everything about your business,
you need somebody who has been in the system for ages to put you through and
also to foresee any possible barrier ahead and also tell you how to avoid those