Motivation article #9 Steps to becoming a millionaire

in business •  7 months ago

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Multiple forms of income.

This is the main step in my opinion. You can create a business plan with an amazing idea but if you don't implement then you didn't do anything. I actually was unaware that they owned 7, my guess was 4-5 business. Now, the statistic they throw in at 1-9 business surviving sounds about right. I actually, owned 5 total but only 2 made it. Things never go as planned in any business, it's so brutal so if you're sensitive this won't be your cup of tea.

Other important things you need:

Delegation Skills

Communication Skills

Negotiation Skills

Strategic Planning

Leadership Skills

Team Building Skills

Analytical Skills

Sales and Marketing Skills

  • Alright, this is the only one I will talk about. WITHOUT this you will sink and all businesses will crush you. Every city needs to be marketed differently. You can target a high-end area with "buy a home with 580 credit." First of all, they're rich so they want to meet people in an office and that credit score doesn't apply to them. You don't need to pay to advertise. This is the biggest mistake everyone makes. When starting out cut all cost everywhere and anywhere. Free publicity is good publicity. Also, take a look at guerrilla marketing if you want to know more. Change how you market, just because it doesn't work doesn't mean its a dead idea. Tweak it and make it work. My signs took about 7 times and 3k till I finally ordered the right ones.

General Management Skills

Cash flow Management Skills

Financial Management Skills

Time Management Skills

One good word of advice that I recently received is don't waste your times on leads who don't go anywhere. I use to always help until they finally came around if they ever do come around. Learn from my mistake that you can use that time with people who are ready now. There will always be a pool of people who aren't ready and those who want something now.

Never pay yourself for what you aren't worth. If your time is worth $300 an hour pay someone to do work. Let's say you need an estimate done, send someone for $20 an hour to do that while you work. Let's say they take 3 hours you saved money there. The work you're doing will net the company more. This works for sending emails, following up etc.

Lastly, making money while you sleep is the goal. Even if that company makes you $20k a year that's 20k you can invest and make it 30k. Make money work for you, don't work for your money. Don't be a slave to the system, create a utopia for yourself. But never do something you don't love, you will hate it and never succeed.

Thoughts on this article?

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