It’s no secret: the world has fallen on hard times and challenges such as the Coronavirus are only increasing the hardships of many. And with many venues closed and events cancelled you may be stuck at home. But what if this is the ideal time for many lives to change for the positive?
Here’s the thing: despite the world’s trying times, you hear about new millionaires all the time. What makes these individuals different? Do they know or do something the rest of us are oblivious to? Can you use the time at home to work at your skills, your mindset and your life goals to become one of the richer ones around?
It can serve you well to delve into the mindsets of some of the current greats in the business world. Learning from those who have survived and then triumphed in stressful times could be how communities, countries and the world can navigate this unique time in human history.
So, what habits should you work at?
Focus Comes First
When you look at well known businessmen who have made their billions, you’ll often find various brands and companies related to their names.
But don’t make the mistake of thinking you have to run multiple companies to grow your bank account to those multiple zeroes. Yes, having more than one company means you have more income streams. But realise that no matter how brilliant you are at business, you have limited capacity. And if you really want to build a brand to a point where it earns you your first million, you need to be able to focus on it completely.
This is clear from Marnus Broodryk’s life story who had to change from running multiple enterprises, to focusing on ‘The Beancounter’. The moment he did that, his brand soared, showing more growth in 24 months than in the previous six years.
So, stop the habit of taking impulsive decisions and starting up businesses all over the place. Pick one or two with the most potential and work on them. One day when you have more capital and people under you, you can follow those other dreams.
Hard Work is a Given
If you think becoming a millionaire is going to be easy, think again. You can dream of winning a fortune or inheriting rich. For some, that dream will come true. But for most it requires a long time of putting in hours of work to reach their bank balance goals:
Do you need to do an internship that keeps you busy from 7 in the morning to 7 at night?
Will studying a business degree give you the insight to be a better company owner? That may mean studying at night.
Will you work multiple part time jobs to support your new startup until it makes money? It’s vital to prepare yourself mentally for what the road ahead requires; if you want those millions. In this case, Priven Reddy is a South African that proved his worth, doing everything from being a waiter to working hard for over a decade to reach the status of a self-made millionaire.
Perseverance Pushes You Ahead of the Pack
Many millionaires, such as Max Lichaba and Tim Hogins can share about their tough childhoods. But those hard times are excellent learning opportunities for business moguls!
During the journey to success, of course everything won’t always go smoothly.
The habit you need to acquire: growing each time there’s a challenge, instead of allowing it to stop you in your tracks.
A difficult scenario or even a complete failure always has the potential to teach you lessons. It’s up to you to make it a habit to look for those lessons so you can use them in the next part of your money-making schemes. When you become wiser, the next challenge won’t catch you off guard in the way the previous obstacle did.
Force Yourself out of Comfort Zones
The challenges will come, but that doesn’t actually mean that you should wait on them. Rather, go out looking for them.
Real growth happens when you live a life of pushing yourself into uncomfortable situations; not by playing it safe. Do you think Richard Branson had it easy making tough decisions starting up a new airline, with so many established brands already in existence? And with the entire world watching, Elon Musk makes bold statements about what his company will achieve, accepts the criticism and chases those goals continually; never stopping to consider if he should play it a bit safer.
For millionaire business people it’s all about taking the chances that many others are too scared to even consider.
Some people say it takes repetition of 21 times to turn an action into a habit. That means that these millionaire mindsets won’t be built overnight. But it’s still an achievable goal for anyone, no matter the circumstances.