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 before 30.
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 challenges.