Becoming a millionaire might not sound at first like anything related to financial independence. This is why I have hesitated for a couple of days before writing this post. The more I thought about it the more it became clear to me that there is considerable common denominator between becoming a millionaire and achieving financial independence. To cut the long story short to be successful in any of the two journeys you will need to overcome a number of obstacles.
1. Becoming a millionaire requires a certain mindset
You are your own biggest asset by far. To transform what you get on the outside you need to transform your inside first. You have gifts that nobody else has. Believe in what you are doing irrespective of other people liking it or not. You need to have a vision and a goal that you want to achieve. Follow your passion. There has to be something that makes you hard to fall asleep. You really need to feel excited when you wake up every morning. Be aware of what you are great at but at the same time make sure that you know what is not your strong suit. Do not follow general trends. Find your own niche.
2. Becoming a millionaire requires discipline
You need to match your desire and goals of becoming a millionaire (or achieving financial independence) with a dedication to actually do it. A lot of people set goals. Many of us look at those goals as mountains that are impossible to climb. They look at it and say: it is too steep and too high for me. Maybe I just quit today. I was born in the mountain area. Climbing is a big part of my life. Whenever I wanted to reach the peak I did not think about how high it is. I always thought about the next step I need to make. Same applies when you dream of becoming a millionaire (or achieving financial independence). Baby steps count. It is not the smartest people who achieve success. It is the ones who
Procrastination kills progress. You can always keep on binge-watching movies. There is always room for mindless web surfing. You can be the best at any online game out there. At the end of the day, it is all procrastination. You keep on repeating to yourself that you will take care of your most important things tomorrow. But you know what? Tommorrow is a place where 99% of goals are buried. Think about it.
make fewer excuses
When you start coming up with excuses why other people become successful and you are not it is dangerous. Everyone encounters difficulties. Feel the fear and do it anyway. You can be anybody at anything if you are just more consistent than anyone else around you. They say that an excuse is the cheapest thing you can have. Stop making excuses. Start seeing opportunities.
take action every day
The choices you make every day are the building blocks of what you will become in the future. Take action every day. Be there for your goal. Deliver every day. Again, baby steps count. You cannot climb this mountain which one giant leap. You need to make small steps every day. Nowadays everything seems to be instant. People got used to getting everything they need in the blink of an eye. Becoming a millionaire (or achieving financial independence) is a process. Everyone wants it yesterday but it’s not going to happen.
live out of the comfort zone
You need to understand that this is not easy. You need to prepare yourself to face a number of challenges along the way. Most want the convenience of becoming a millionaire (or achieving financial independence) without the inconvenience. This is where many of people quit. They feel overwhelmed and start having doubts or fears. You need to understand that living outside your comfort zone is key to progress. Teach your brain to like being outside the comfort zone. Start embracing it. You will see that you can achieve more than you have ever imagined.
3. Becoming a millionaire requires the right environment
Think about a person you admire the most. It can be anyone. Now think about the people you interact with on a day to day basis. There is this saying that you become an average of the five people you interact the most with. You need to be prepared that your friends and family will not share your passion. They might not support your goals. You need to find an environment in which your ambitions and values can thrive not die. There will be some difficult decisions to be made. It may turn out that you no longer want to meet people you have known for many years. That is okay. In order to become the part of 1%, you need to act differently to 99%. Get used to it.
4. Becoming a millionaire requires a balanced approach
You need to fuel your body with right foods. Excercise is as much important as diet. Be sure to have a regular sleep pattern. You can live in imbalance for some time and ignore all that but in the long term, you will get tired, unmotivated and weak. Think about becoming a millionaire as a running a marathon. You will not be able to make it to the end when you take shortcuts in preparation. Victory loves preparation. I have been running long runs for more than ten years now and I know for sure that the right balance is key.
5. Becoming a millionaire (and staying one) requires understanding how money works
One final thing I wanted to share. You need to become skilled at making, controlling and safeguarding your money. You need to start working on your financial IQ. This will help you to understand money, make money work for you instead of you working for money.