By asking this question you have already started.
DISCLAIMER: The methods I’m about to show you are quite unorthodox. The results are not typical, and will depend on your particular work ethics, preferred formula (system) speed of execution and determination.
Try the following:
1. Unlearn Everything You Know
This is because if you knew what to do to become a millionaire, you would not be asking this question.
How do you unlearn stuff you’ve been taught since childhood?
Well, everything you’ve been taught since childhood is crap. The books you’ve read, the education system you’ve attended from high school to university. Besides, you were taught by teachers and professors who never run any successful businesses (sorry professors); whose only sphere of influence is the classroom and campus, etc…
Ooh, yes. I know you’re asking – What about my Ivy-League MBA?
Forget it for now… That will only get you a JOB (Journey Over Broke), in a company that will buy your time for a pittance. By the way, it’s better to be broke than to trade your time for money in a 9 to 5 grind.
The books I’ll recommend below will show you how to buy your own freedom (if you’re already a modern-day slave) and help you to unlearn everything you thought you knew about wealth.
You’re going to invest in a new kind of education.
Still here? If you’re still with me, then I think you’re beginning to have guts. Let’s continue…
Start by reading new type of books.
Here’s a list of 21 books I’m recommending for you to start with.
You may never have heard about these books. They may not be the most sexy books to read, but believe me, if you start reading them, your mind will begin to turn around and your life will begin to change.
- Think and Grow Rich – Napoleon Hill
- The Secret – Rhonda Byrne
- Rich Dad, Poor Dad – Robert Kiyosaki
- The Intelligent Investor – Benjamin Graham
- Money Master The Game – Tony Robbins
- The 4-Hour Work Week – Timothy Ferriss
- The Millionaire Fastlane – MJ DeMarco
- The Millionaire Next Door – Thomas J. Stanley
- The Richest Man In Babylon – George Samuel Clason
- The Power of Habit – Charles Duhigg
- Atlas Shrugged – Ayn Rand
- How To Win Friends and Influence People – Dale Carnegie
- The $100 Dollar Start-Up – Chris Guillebeau
- The Monk Who Sold His Ferrari – Robin Sharma
- The E-Myth Revisited – Michael E. Gerber
- The 10X Rule – Grant Cardone
- ZERO to ONE – Peter Thiel
- Start With Why – Simon Sinek
- Losing My Virginity – Richard Branson
- Tools of Titans – Timothy Ferriss
- UNSCRIPTED – MJ DeMarco
Can you handle all these books and more? How many books should you read in a year?
Well, 52 books is recommended (one book per week), but if this is too much for you, you can try reading at least one book every two weeks. You should abandon most of your existing comforts and develop a regular reading habit.
If you want to become a millionaire you MUST abandon comic opera and read boring books such as these ones.
Since the question is not about books, I will not delve into this matter further. I’m sure you can do the rest of the homework yourself…
2. Change Your Belief System
This is very important, and I’d like to discuss it at length. Your current belief system is WRONG because it has gotten you nowhere.
As most people would have you believe, becoming a millionaire is not a walk in the park. The biggest roadblock to becoming a millionaire is your belief system.
Changing your belief system involves educating yourself and accumulating new information by reading books among other mental exercises you must practice.
You must begin to change friends. You must begin to change your social life. These are just some of the sacrifices you make for becoming a millionaire.
Start exercising your body and watch your diet. You don’t want to become an old, sick millionaire.
There it is. I’ve just given you a success formula.
Before we proceed, let me ask you three questions.
- Do you believe you can become a millionaire?
- Why do you want to become a millionaire?
- What are you willing to sacrifice to become a millionaire?
The second and third questions are very important. Answering these questions will help you determine whether you have what it takes to become a millionaire and are willing to pay the price.
3. Model A Proven Success System (Vehicle)
There’s a famous saying by Personal Development Guru, Tony Robbins:
“If you want to be successful, find someone who has achieved the results you want and copy what they do and you’ll achieve the same results.”
– Tony Robbins
As discussed before, let’s rule out getting a JOB as a viable method to become a millionaire. Possible but difficult, and it takes a long time and an aggressive financial plan. Besides, you should earn a net pay of $200,000 or more per year, and save aggressively to become a millionaire. Not many jobs pay that kind of money.
By far, the quickest way to become a millionaire is to start a business. This is the most highly recommended vehicle.
Business is risky, but the returns are a zillion times higher than any other vehicle. Besides, that’s the whole purpose of reading the books I recommended earlier.
If you want to become a millionaire, the best advise I can give you is “DO NOT re-invent the wheel”.
You can do that later once you become a millionaire.
The best way is to find a market where other people are already making money, then get into that market.
Then follow a proven success system (don’t copy) to deliver a product or service.
There are way too many businesses you can start. The type of business you choose totally depends on your preferences, speed of execution, work ethics, passion, and your determination.
You must understand that starting a business or becoming an entrepreneur does not guarantee you will become a millionaire. That depends on your particular circumstances, preferences and other factors such as capital strength.
That being the case, here are some businesses/industries you can venture into and become a millionaire. Again, how long it takes to become a millionaire in any particular industry/business depends on several factors as mentioned.
- Financial Services (Banking, Insurance, Stocks, FOREX, Options, Futures, Cryptos)
- Wholesale, Retail & Fashion (Retail Chains, Department Stores, Online Stores, etc.)
- Technology (Hardware/Software, Robotics, eCommerce, Online Businesses)
- Education (Schools, Colleges, Universities, Learning Material, Online Resources, Self-Development Courses, MOOCs, etc.)
- Entertainment & Recreational (Movies, Gambling, Betting, Gaming, Music, Arts, Sports, etc.)
- Accommodation & Food (Hotels and Restaurants)
- Real Estate (Housing & Construction)
- Manufacturing (Food Production, Motor Vehicles, Robotics, Electronics, etc.)
- Healthcare (Hospitals, Drugs, Medicines, Health Maintenance, Biotechnology, etc.)
- Energy (Electricity, Renewable Energy, etc.)
- Agriculture (Smart Farming)