Most of the millionaires in the world aren’t celebrities living in massive estates. In fact, you could be living next to a millionaire and you might not even know it.
As it turns out, there are quite a few traits that millionaires share – and it isn’t just what they have in their bank account. In this post, we’ll take a look at the traits that millionaires have in common, backed by research. Try incorporating some of these things into your daily life, and who knows – maybe you’re a millionaire in the making.
1. Millionaires Are Self Employed Entrepreneurs
Think it’s risky to start something on your own? Millionaires think the opposite – they think it’s risky to work for someone else.
There’s a certain drive, hustle and itch that these entrepreneurs just have to scratch. They can’t work for someone else – not because they don’t want to, but because they always need something to do on their own. Sound familiar? The fact that you’re reading this means you’re headed in the right direction.
2. They Dream Big and Have a Strong Work Ethic
Millionaires see the possibilities beyond just the immediate future – they look to scale. Nothing holds them back. Obstacles and setbacks are just potential learning experiences.
They have big dreams, and truly believe that their dreams will come true, even if it means heading into uncharted territory. With that in mind, achieving those dreams takes some hard work. And a strong work ethic is required.
3. They Choose Their Careers Strategically
The majority don’t tackle a business or product they’re passionate about. Usually, they’ll start a career where they know they can make money by jumping on a trend, or seeing a gap in a niche market. If that trend is something they’re passionate about – then it just makes things even easier.
- 63% of new business owners admit their ventures don’t have a competitive advantage.
- There’s no evidence that entrepreneurs select industries where profits, profit margins and revenues are higher.
- Only a third of those surveyed say they really did a search for a good business idea.
Seems kind of surprising, right? You’d think that a new business owner would do some research about the state of the market they’re going into.
That, however, is why millionaires make it big. They think differently. They see untapped markets and jump right into them. That might mean, however, that the product or market they’re going into isn’t necessarily “exciting” or “cool”. They’re just chasing the cold-hard cash.
4. Millionaires Have a High Tolerance of Risk and Failure
Failure is a constant feedback loop. Every time you fail, you’ll learn something.
To be a market leader in any business, you have to be willing to take big risks that might fail. You have to be able to get back up after getting knocked down, and use what you’ve learned to grow and keep going forward. Big bets mean big failures, but big bets can mean big successes
YOU CAN START MAKING MONEY TODAY AS WELL
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