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Seven Steps To Not Becoming A Millionaire
1. Wait for approval or permission from society.
1. Wait for approval or permission from society.
2. Choose innovation over copying. (Don’t reinvent the wheel. Improve upon the wheel. Innovation is not the way to billionaire status. Copying is. Find what works and jump in and do that too. Just do it better. Do it more powerfully. The Wright brothers are a great example. They created the airplane. And they wouldn’t give up on their idea and sooner or later they had an airplane. It wasn’t an original idea.)
The Wright Brothers didn’t come up with the original idea of flight, but they had an unwillingness to give up on their dream of flying. They were persistent and when we have persistence and inspiration, that’s when luck happens.
They key is to start the process, to implement something, because it is far easier to go from one success to another than it is to go from failure to success. You’ve all heard of the law of physics that says a body in motion tends to stay in motion. This theory holds true in terms of wealth accumulation as well. It’s easier to change direction slightly while you’re moving in the right direction than it is to start from a standstill and get up and running.
3. Work for a salary. (If you look at the Forbes list of the wealthiest people, you won’t see one person who works on a salary. Why? Well, that’s not where the money is. Ownership. That’s where it’s at. Salary will never get you to that point.)
4. Adroitly manage your stock portfolio. (My financial adviser students are going to take offense to this, but if you look at it historically, managing a portfolio does not create mass affluence. Warren Buffet, billionaire, does not make his money through passive investments. Waiting for the world to discover the undervalued stock you just bought does not make giant wealth.)
5. Think up ideas versus capitalizing on tried and true ones. Thinking that you’re going to create your wealth from an original idea has historically shown not to work very well. A lot of us think, ‘We’ve just got to come up with that really good idea.’ There are more really great ideas that have not created billionaires than you can imagine.
6. Allow your quest and desire for super wealth to prevent you from taking action.
So now you know what not to do. Upcoming articles will go into more detail about what you should do, and installing an affluent mindset. (For more on this check out www.maxpersuasion.com). Or you can stay on track to not become a billionaire and check out step seven.
7. Don’t do anything.