Forget everything you know about millionaires: most of them do not drive luxury cars but spend their lives working hard and not in the pool. So what characterizes this thin population (apart from a lot of money in the bank)? Answers inside.
Spacious house in an upscale area, smart cars and designer clothes – these are the images we draw the magic word “millionaire”. In reality, the picture is very different. So what characterizes this thin population of six zeros out and up from the bank account?
They are entrepreneurs
Afraid of the risks involved in moving an own project? Millionaires would think differently – they think it’s dangerous to work for someone else.
There is a definite motivation, momentum and stimuli that these entrepreneurs need to “scratch”. They are not able to work for someone else, they have their own project and dedicate it. Identify with feeling? Maybe you’re on the right track to the bank account of his dreams. Some interesting facts about millionaires and their work as entrepreneurs:
- The top 20% of the wealthiest households in America are represented retirees or those who have retired from business profits.
- 2/3 to the suspensions of the 80 percent remaining business owners are self-employed.
- Less than a fifth of all US households are owned by business owners. This segment of the population is four times more likely to get rich compared to the general population.
They dream big and work around the clock [N T: expression to 24 from 24, 7 days a wk ……]
Millionaires know how to examine potential opportunities available to them and to plan long term. To borrow an image from the world of sports, they are, marathoners. Obstacles and delays are for them opportunities for growth and development, and no restrictions / blockages. Another characteristic shared by many millionaires is the ability to dream big time – and to believe that their dreams will come true. Fulfilling these dreams requires hard work, stubbornness; these are people with a strong work ethic.
Take the example of Steve Jobs: a year after the launch of the first Mac was fired from Apple. In his speech, founding Stanford University in 2005, Jobs said that although at the time hardly could say that, dismissal from Apple was the best thing that happened to him. He set up two businesses – computer company Next and animation giant Pixar, and later returned to Apple that was setting and turned it into a thriving business and brand giant it is today. Building large companies is not possible without the hard work, and indeed, most millionaires indicate that the most important lesson was learned in university is work ethic.
Strategy choice of career
Most millionaires do not start successful career in business or first first product we launch. However, for most of their starting point in his career will be a place where they know they can make money, either to sit on the trend of “enrichment”, or by using a niche success caea they identify it in I think if they can fill this gap. It seems to be the obvious way to go into business? It seems, indeed not. Some surprising facts on this subject were published in the book Illusions of Entrepreneurship and they show that:
- 63% of business owners recognize that investments are not a competitive advantage.
- There is no evidence that entrepreneurs choose those industries where profits and revenues are higher.
- Only a third of respondents said they sought a successful business.
This is why the mega-millionaires have success. They simply think differently. Notes goals and rush to fill them. You can head to places that are not “interesting” or “starlucitoare us,” but they only pursue economic potential that will enable the next adventure.
They are willing to wager big time
Millionaires understand that failure is a permanent feedback loop. Every time something fails, you have to learn something. To lead the market in any field, an entrepreneur must be willing to take big risks that could fail. He should be able to get up after a fall, to use what he learned as a source of growth and continue to move forward.
Big bets mean big failures, but also they can give an enormous success. Frank McKinley, a real estate developer prosperous explains: “If you train this muscle – you take a calculated risk and see if it pays off, thou shalt take a calculated risk but ing and see if it pays off – you can trust you more and your analytical skills are improving. “
They read the map otherwise
Let the market lead you to the point: Most people start with the idea business. They develop in the head and fall in love with her. In practice, the path to big money is in the opposite direction. To succeed, an entrepreneur must learn to market and let them lead the way for the great idea.
Learn more about Marketing prospered in applications, for example, learning market is relatively easy. You can go into an app store and learn what exists – all data is exposed developer and understand what works and what does not and / or operating on whom. You can experience various applications to înţeleageti and strengths and weaknesses, and identify shortcomings gradually.
The average consumer to understand more so you’ll have more success: You must be sellers to market products you want to sell your merchandise and. If you know what currently exists as a specialiast You approxima next thing after that consumers will go crazy and probably will be also the one who gave it.