Professional Development

7 Steps to Becoming a Self-Made Millionaire

Written by Peter Jones

So you want to be a millionaire, but you don’t come from money and you don’t have much to build on. It is possible, but it will take an awful lot of work.

The first question you want to ask yourself is why this is important to you. The correct answer usually isn’t “I just want to be rich.” Think about what matters to you and what your dreams are, and focus on those instead of the dollar amount in your bank account.

Here are a few ways you could give it a try.

1. Work Harder

If you want to be a self-made miracle success story, you’re going to have to work and study a lot harder than everybody else. You’re going to have to constantly push yourself—never let yourself get complacent, stop learning, or cease seeking out new challenges. Make to-do lists and complete them. Then make new ones.

2. Read

Reading is the number one thing you can do to boost your chances of success. You’ll get new ideas, stay on the cutting edge of every conversation, and generally just stay smart and sharp. Which, if you want to be a millionaire, is what you’ll need to do. Grow your knowledge and skill base as widely as possible. Develop interests and pursue those interests doggedly. Be the best at something.

3. Find a Mentor

You should already be surrounding yourself with successful, like-minded people. It’s great to shift your own outlook and build some momentum. But take care to single out a mentor. Yours could be a parent, teacher, career mentor, yourself, or even a character in a book. The point is to choose someone you admire, whom you can emulate and become more successful in the process.

4. Don’t Waste Time

From now on, your time is money. Don’t invest your time in anything not worth the effort. And cut back on your television and social media intake. If you keep your YouTube video watching habits and other screen time down to an hour a day, imagine how much more you could get done.

5. Be a Good Person

Don’t just aim to be rich in money; aim to be rich in spirit. Tip well. Listen attentively. Give to those less fortunate than you and be sure to take time to care for your loved ones. The pursuit of success can often be a lonely one—don’t leave your family and friends behind. And be sure to give back wherever possible. Your soul is as important as your bank account.

6. See the Big Picture

Don’t just focus on your short-term success and set lofty goals for the year’s end. Focus on the bigger picture of how you want your life to be shaped. Keep your eye on the biggest, most motivating prize and let yourself be continually driven and inspired.

7. Live Frugally

You sometimes have to spend money to make money. But that doesn’t mean you should spend whatever you make. Try to live as humbly as possible while you amass the cash you’ll need to take yourself to the next level.

About the author

Peter Jones