How can I be a millionaire in 3 years? Or what can I do?
The allure of a million dollars is almost irresistible. The thought of getting a hand on a million dollars is too tempting to escape the mind of any mere mortal.
Pictures of luxury homes, flashy cars, loads of cash and sexy women flash through your mind each time you think of a million dollars...
For most people, becoming a millionaire means a life of comfort, luxury, and security. In reality, a millionaire is basically anyone whose net worth exceeds $1,000,000. A million dollars can provide you with a significant advantage and a certain level of power, comfort and financial freedom.
You don’t have to be a genius to make a million dollars, but it helps if you are intelligent and extremely hard working.
Intellectual Capital = Intelligent Quotient + Emotional Quotient
More importantly, becoming a millionaire in 3 years is tough and depends on how fast you can make a mindset shift, and invest in financial education.
There are two types of people in the world:
Consumers
Suppliers
Become a supplier. Avoid becoming a consumer.
What do I mean by this?
There are people whose mind orientation is just to spend. Run away from this group.
I have listed here, some helpful points to help you get on your way to becoming a millionaire in 3 years.
#1 - Become an Entrepreneur
Quit looking for a job. Become an entrepreneur.
A job will help you to survive. A business will make you rich
#2 - Quit Your 9 - 5
You cannot think of becoming a millionaire in 3 years and also think of working in a 9 to 5 job. It’s simply self-defeating.
One thing you need to know is that when you’re working a 9 to 5 job, it’s not just 9 to 5. It extends beyond 9 to 5 and right into your private life at home.
Don’t kid yourself. If you’re on a 9 to 5 job you’re mostly thinking about your 9 to 5 24 hours, 7 days a week.
#3 - Sacrifice Something
What are you willing to sacrifice? What do you think is your greatest hindrance to success?
Is what you’re willing to sacrifice worth a million dollars?
The most valuable thing you can sacrifice is the time you spend doing worthless things.
#4 - Clear Your Mindset of Junk
You must delete everything you thought you knew. If what you know hasn’t made you a millionaire, then why should it occupy valuable space in your brain for no reason.
Delete it or Unlearn it and learn something new.
#5 - Decide To Make a Major Mind Shift
Your most valuable asset is your brain. However, having a brain and knowing how to use it effectively is another thing.
To know how to use your brain profitably, you must make a mind shift.
#6 - Invest in Financial Education
Don’t buy a piece of land if you don’t know how to use it. To become an entrepreneur, you will need a lot of resources. One resource you cannot do without is financial education.
You can get a ton of financial education online these days.
One valuable resource you can get a ton of financial education and books is my Reviewborx blog. You can find the links at my Medium profile.
#7 - Invest in Yourself
As I said earlier, you’re going to need a lot of resources. One of the most valuable resources you’re going to need is your health. You don’t want to become a millionaire in 3 years only to lose your health in the process.
Your health compliments your financial education. Since you’re going to become a life-long learner, you might as well find out everything you need to know from building a successful business, entrepreneurship, health, and self-development.
#8 - Draw A 3-Year Plan
Failing to plan is planning to fail.
This is the most critical part of your journey to becoming a millionaire in 3 years.
Year 1
Invest in yourself
Invest in financial education
Determine your investment vehicle
Start a business
In order to earn $1 million U.S. dollars, one must earn at least $83,333.33 per month or $2,777 per day.
Not many businesses can earn you this kind of money, but don’t lose heart — The world is your oyster.
The idea is not the type of business to start, but the type of business that can make $83,333.33 per month or $2,777 per day.
Don’t spend too much time thinking about which business to implement, otherwise, you will fall into the trap of analysis paralysis.
Start any business, as long as it is profitable. Some of the most successful businesses were started in a campus dormitory.
Year 2
Grow your business. This involves increasing your marketing budget or changing your marketing strategy.
Year 3
Scale your business. Scaling is about growing your business exponentially.
In technology terms, scaling is when you increase the number of servers in response to an increased customer base or workload.
In offline business models, you can think of this as when you increase your delivery vehicles to accommodate your supply base or to reach more customers.
The modern term for this is “growth hacking”.
#9 - Identify A Rapid Market
Find a market that is already spending money. Venturing into uncharted territory is a bad idea.
Why waste your valuable resources spending money to invent a new anti-aging drug which others have already invented?
Besides, other people are just waiting for you to start and then crowd you out.
#10 - Build A System
By a system, I don’t mean building a computer program, although that could be part of it.
A business is a system.
A computer program is a system
A website is a system
#11 - Scale The System
Scaling is not the same as growth. Scaling means exponential growth.
For example, assume that you supply food to 500 customers in your local area at $7.00 per meal. This comes to $3,500 per day in sales, which is $1,277,500 per year.
By doubling your delivery vehicles, this income can double to $7,000 per day assuming that your production capacity also increases accordingly.
This brief blueprint shows the steps you should take to become a millionaire in 3 years.
It is not a detailed guide.
For more information on how to start a successful offline or online business, find the resources at my Reviewborx blog. Get the links at my Medium profile.
