How to Become a Self-Made Millionaire

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Who wants to be a millionaire? Wait, before you answer, I already know that you wouldn’t mind being one of the chosen few. One thing, though, that you must consider first is what really matters: happiness, or making money at any cost…

There is a decent amount of people who have become millionaires by making their millions working for someone else’s dream or selling their souls for success, but I bet you would rather do it differently… Heck! Who wouldn’t?

Lots of people set out each new day to become huge successes and to make millions doing what they love, but do you know how many actually succeed? Not many.

I know I have big plans to make my first million in the next five years, and I hope you have the healthy ambition to do the same, but I can promise you one thing: it won’t be easy making a fortune materialize out of thin air. If you want to be a REAL self-made millionaire, there are a few things you need to know before you get started.

So, if you are ready to make your fortune, and love the life you create in the process, read on to learn how to become a self-made millionaire.

1. Stop Listening to Everyone Else

Remember how I told you that most people fail at making their fortune and realizing their dreams? Well, a big contributing factor to the collective failure of so many people is the fact that they listen to what everybody else has to say about their plan.

Sure, take the time to listen to people who want to offer constructive criticism or lend you helpful advice to become successful, but you can’t ever make a fortune if you are too busy listening to Uncle Larry tell you all about how you should instead be a pharmacist.

If you truly want to create wealth on your own, then stop trying to follow the paths and the advice of others, and follow your own heart instead.

2. Get Your Finances Under Control

If you’re racking up thousands in credit card debt buying extra turns in Candy Crush, then it’s going to be tough to ever make a million of your own. Okay, maybe not thousands on Candy Crush (hopefully), but you still get the picture!

Remember that old saying, “You have to spend money to make money”? What about, “A penny saved is a penny earned”?

If you want to put six zeros after the $1 left in your bank account, then trust me when I tell you this: you need to stop spending money on crap, start saving as much as possible, and start making smart investments whenever you get the chance. Start living within your means today so you can live like a baller tomorrow!

3. Start Networking Today

Maybe you already have a plan to make your fortune, maybe you have a strong work ethic but no plan at all, or maybe you’re looking for a wealthy suitor that you can marry and inherit their money.

Whatever situation you’re currently in, you need to start meeting other people and networking if you want to generate a personal fortune. Networking might introduce you to just the right person to make your dreams a reality: you could meet a business partner, an investor, or maybe you could just meet someone who gives you an awesome idea.

Who knows? The possibilities are endless, but if you never get out there and meet new people, then you will never know what could be.

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4. Learn From the Success (And Failures!) of Others

You can read books, watch documentaries, listen to podcasts, or find numerous ways of listening to the stories of other successful millionaires. Many successful people love giving back and helping others, and you can find interviews where they will give you tips and lessons that they wish they would have had when they were starting out.

Steve Jobs, for example, told people to do what they love and that, if you follow your heart, everything else will fall into place. Maybe that advice is exactly what you need to hear today.

There are so many inspirational and educational stories out there from people who made millions of their own, and many times they are more than willing to share their personal stories of success (and failure) with you. Sometimes seeing how someone else made a million can inspire you and other times seeing how someone lost their millions can show you what not to do.

Whatever your goal is, make sure to take advantage of all of the successful people who have already succeeded and that you listen to their stories… you might learn something!

5. Take Some Calculated Risks

While getting your finances under control is a must, you should also conjure up a little bit of bravery to take some calculated risks every now and then. People don’t make millions just by putting money in a savings account and letting it build interest. They create fortunes by starting a business, investing in new ideas, or crunching the numbers and making a smart financial investment.

If you hold onto the money that you have too vehemently, then it’s going to be tough to take the kind of risks that can really generate huge profit and financial gain.

Steve Jobs was living out of his parents’ house, running his business out of their garage, and desperately trying to make Apple stay afloat. That sounds pretty risky – and maybe even a little bit crazy – but just look at what Apple has become today.

Be smart, make a plan, but sometimes be willing to take a risk. Big opportunities often come with big risks attached.

6. Learn New Things and Examine Your Mistakes

If you really want to be a millionaire, then you need to study the market, keep up with what’s new and popular, and follow the business world closely. You also need to adjust your plans and strategy based on what is going on today. Keep a close eye on the market and readjust your plans as often as needed.

Of course, things will sometimes go wrong. You might need to lose $100,000 before you can make a million, so each time that you make a mistake or blunder, be ready to pick up the pieces, learn from your mistakes, and then get back into the game.

If you really want to make a fortune of your own, you have to have a mind for business, and that means immersing yourself in the business world, continuously learning, planning, and adjusting your strategy.

See Also: How to Start Thinking Like a Millionaire to Become One

So, how do self-made millionaires make their fortunes? They ignore everyone else and follow their heart, they take control of their financial world, they network, they learn from other successful people, they take on some calculated risks, and they continuously study, plan, and learn.

Making a million dollars won’t be easy, I promise you that! If it were, we’d all be billionaires by now.

Your fortune lies at the end of a long and hard road of sacrifice, fear, opposition, and challenge, but if you are up for the challenge, then there might just be a pot of gold at the end of your rainbow.

What do you think? Know any self-made millionaires or are you a millionaire yourself? We would love to hear from you; after all, the stories of someone else’s fortune might inspire the rest of us to make our own nest eggs.

If you know someone who needs some inspiration to make their own fortune or if you liked this article, then make sure you give it a share; it just might help someone that you care about!