Do you want to learn how to become a millionaire fast in 1 year or less without much hassles? Do you want to learn what it takes to become a self made millionaire? Then i advice you read on.
It is the dream of most people to make a million dollars but unfortunately, they won’t because they don’t know how to. So in this article, i will be sharing with you strategies and ways to become a millionaire quick. This is a no-nonsense guide and straight to the bone talk, so I will suggest you grab a cup of tea, sit back and read carefully.
Now in the course of my years as an entrepreneur, i have met a lot of people with dreams and aspirations to become a multi-millionaire someday but they seem stuck simply because they don’t know how to go about actualizing their goal to become a millionaire. Some of the questions usually on the lips of these individuals are:
- How can i become a millionaire fast?
- What business can i start to become a millionaire overnight?
- How do i become a self made millionaire fast?
- What can I do to make a million dollars in a year?
“Anyone who has ever struggled with poverty knows how devilishly expensive it is to be poor.” – James Baldwin
Now to be sincere with you, becoming a millionaire is not a big deal anymore. The reason i say this is because anybody body can wake up tomorrow and be a millionaire. In fact, it is now easier to become a millionaire starting with nothing. Today, with just a laptop and an internet connection, you can make a million dollars in six months or less; if you have the right knowledge.
Secondly, there are now several easier ways you can become a millionaire. So it is up to you to choose the route that best suits you and you have no excuse to not to become a millionaire.
8 Ways to Become a Millionaire Quick
- Play the lottery and get lucky. If you are a gambler, you can play the lottery, get lucky and win a become a millionaire. The problem however is that if you lose the money, you need another bit of luck to repeat the process.
- Marry a rich person. You can marry someone rich and become a millionaire. Yea, most people marry for money these days so it’s no big deal anymore. But it takes a great deal of heartache to live with somebody you have no affection for.
- Being a celebrity or superstar. You can become a millionaire by being a super star. Maybe a footballer, musician, celebrity, etc. But it takes years of consistency, hard work, large number of fans and lots of media power to become a celebrity or superstar.
- Become a crook. You can become a millionaire by being a crook. Maybe a drug dealer, gun runner, money launderer, public fund looter, etc. However, you may never enjoy your money in peace as you will be constantly hounded by the police, the government or your associates.
- Savings. You can become a millionaire by being a good saver or better still, a penny pincher. If you start early and you have a good job, you can save your cash in the bank and become a millionaire. The only hitch is that you won’t know what to do with your million dollars other than to lavish it and even if you want to invest in something worthwhile, the fear of losing your money will never allow you.
- By inheritance. You can become a millionaire by inheritance. Yea, a lot of kids were born with a silver spoon and left a large inheritance. The only hitch with becoming a millionaire this way is that if you lack the competence to run the system that generates the money for your inheritance or if you simply have poor financial control of your life, you will lose that inheritance in due time.
- Be self employed or build a business. You can become a millionaire by being an entrepreneur. Yea, you can make a million dollars by building a business or simply by being self employed like a forex trader, stock trader, craft man, etc. This was exactly how i made my money. To achieve this, you need initiative, skills and knowledge of the business you are venturing into.
- Become an investor. You can become a millionaire by being an investor. However, your choice of investment vehicle may be stocks, real estate, IPOs, startups, etc. You can also choose to be an angel investor, Venture capitalist, etc. To do this, you need to be financially intelligent. You also need adequate knowledge, a good team, access to information, analytic skills and most importantly; Money.
The Best Advice for Becoming a Millionaire Overnight
If you want to get rich fast and become a millionaire overnight, then my best advice to you is this:
“Stop trying to get rich overnight. Instead, look for a proven systematic way to get rich.”
Yes, that’s my advice to you and the reason I made that statement is because more important than your goal to become a millionaire overnight is the process you undertook. Enough said.
The best way to Get Rich Fast and Become a Millionaire Overnight
The best way to get rich fast is not to do it alone. You will be better off working with a team of people towards the actualization of your goal. Smart delegation is one of the keys to an unlimited income. Involve other people who would be more than willing to do certain tasks while you focus on handling other important things that will contribute to your cause.
Now how do you bring people together to work with you on your goal? The answer lies in entrepreneurship. The best way to make a million dollars is to simply undertake these three steps:
- Identify people’s problems or needs
- Find a solution to such problems or find a way to fill their needs
- Start a business around your idea or solution
Once you can confidently and competently fulfill these three things, you are on your way to becoming a millionaire. Some of the people who became rich have invented something that helped answer a particular need. While there are a lot of people who are highly capable in inventing things, most of them do not have the heart to carry the idea through.
Often, these wonderful ideas would not bear fruit. If you have a great idea that you believe in, then, by all means give it a shot. Who knows? This idea may be the invention that people are waiting for because it helps answer their needs and preferences.
Before I proceed to explain my exact strategies and how i made my money, I want to clearly state that:
a) This guide to becoming a millionaire in less than a year is for those who have the guts to take a little risk. Employees may not find this easy except they are willing to go beyond their comfort zone.
“A million dollars is the starting point.” – Rich Dad
Many individuals desire to get to the millionaire status but they don’t know what to do or how to go about it. I want to state categorically that there are many ways to become a millionaire but I will be restricting this article to achieving this goal by following the entrepreneurial process; the process of building a business from scratch. Below is my step by step guide to becoming a millionaire in less than a year.
“The principle of becoming a millionaire is the same everywhere, regardless of the currency.” – Anonymous
How to Become a Millionaire Fast in a Year
To become a millionaire in less than a year, you must see yourself a millionaire. You must believe it is achievable. Ultimately, you must prepare your mind to face the challenges associated with your dream of becoming a millionaire. You must also be prepared for disappointments and set backs along the way.
Preparing your mind also entails abandoning the employee mindset of working for a paycheck. It’s all about transiting or changing your mode of thinking; it’s all about thinking like an entrepreneur. In the process of preparing your mind to become a millionaire, you must also develop the necessary entrepreneurial skills needed.
“To be successful, you must act big, think big and talk big.” – Aristotle Onassis
One of such skills is that you must develop a tough skin towards rejection and criticism. You must not give up on your dream just because somebody said it’s impossible.
2. Set a goal to become a millionaire in 1 a year
The next step is to set a goal to become a millionaire within a time frame of one year. After setting the one year goal, break it down into monthly, weekly and objectives. The goal and objectives must be written down. Writing it down will help you must make sure each new day is fully utilized to the realization of your goal.
One of the easiest and fastest ways to make money and become a millionaire is to utilize your potential. Every human being is blessed with a gift or has a unique talent that needs to be discovered and harnessed.
Even if you think you are not gifted, there’s definitely something that drives you crazy; something you are never tired of doing. Something you are very passionate about, something you can do and do excellently well. It could be an acquired skill, an in-born talent, your hobby or just anything that thrills you; even if it’s the world’s craziest idea, it’s your strength. Debbi Fields took her passion for baking cookies and made a lot of money out of it with her company; Mrs. Field’s Cookies.
Bill Gates discovered at an early age that he loves tangling with computer programs and this passion evolved into Microsoft. Oprah Winfrey utilized her gift for speaking and became the richest black woman in the world; while Rachael Ray took her passion for cooking and became a famous millionaire. So no matter what your strengths are, you can make something out of it.
All you need to do at this stage is list them out in written form. Now if you feel you don’t have any talent or skill to leverage upon, which I doubt; then you have to ask yourself the following questions:
- What do I have around me that I can leverage upon to become a millionaire?
- What drives me crazy?
- What do I know that others don’t?
The answer to this question may be the skills or expertise of a friend, someone else product, an eBook or software (which you can find in abundance on the internet). Once you can figure this out, you are still on track to becoming a millionaire.
After listing out your strengths, you need to go to a quiet place and reflect on your strengths. Analyze each of them and tick the ones you are very strong at. After analyzing each one of them, you will need to carry out a preliminary research to know which of your strengths or ideas has potential for success in the market place. This research might require you ask questions, read journals, magazines and books and even spend time on the internet. Any of the research vehicle you choose, just make sure it yields the desired result.
If you can get to this stage, then you are half way down the road to becoming a millionaire. This is where you sit down to draw a plan of how you intend to leverage your strength or idea to make money. This is where you to convert the results of your feasibility study into a business plan. Your plan is going to contain tactics and strategies that will help you surmount business challenges and achieve your goals faster.
6. Make sure you are legally protected
Many budding entrepreneurs strive to pass through step one to five, only to bypass step six and proceed to seven. This single business mistake has resulted in the death or painful loss of brilliant ideas and opportunities. I have also seen smart entrepreneurs being launched into a world of tremendous wealth simply because they protected their ideas.
Never test run your idea or launch it without first protecting it using patents, trademarks, copyrights, non-disclosure agreement or conformity forms. If you are leveraging someone else idea or product, be sure to obtain a license, distributive rights or exclusive right from the owner. Legally protecting your idea will cost you money in the short run but it will be highly beneficial to you in the long run.
7. Test run your idea and note down the result
After protecting your idea, you can now test run it to see its workability and identify flaws. Test running your idea might require you to; give out free samples of your product, grant access to experts to scrutinize your idea or join a focus group. The end point of your test running should be to gather feed back and improve or proceed with the idea. If the product is not yours, you will still need to test the market with it. Nobody wants to be stuck with a dying product.
If you are smart and open minded, you will assemble a team during the test running of your idea because few will see potential in your idea and will want to be part of it. If this happens, then you need to be selective of who you bring on board as team member. But if not, then you will need to find your own team. Whichever way it works, just make sure your selected team members sign an agreement highlighting their roles and stakes to avoid future dispute.
9. Form strategic alliance with stronger external teams
After kicking off with your idea alongside your team, you will surely meet some business challenges and some progress. You may decide to maintain status quo and work strictly with your team but if you need accelerated growth and speedy achievement of your goal, then you need to seek out external assistance. You need to form strategic alliance with stronger external teams; teams bigger than yours. This will reduce your overhead and help you grow faster while still running on a lean budget.
11. Stick with the process until you become a millionaire
Finally, we are at it. What else do I have to say, what advice do I have to give at this point? If you have steadfastly gotten to step nine, I say congratulations but I’m still sorry to say that all your effort will be null and void if you ignore step ten; the most important step of all. In the game of entrepreneurship and life in general, many start the race with enthusiasm but along the way, most lose their enthusiasm and others their focus. Only about ten percent will make it to the end of the race. Are you going to be among this ten percent? Only you can decide that.
In line with that, it is easy to gain more when you are handling more than one source of income. If your only source of income is your profession or career, it is fine. But, you may need to add other sources that may involve investing in other business opportunities that can help add more money to your pocket. This manner of having multiple streams of income is one of the things that the rich do so well. That is why, if a person would like to join their ranks, it is best to learn how to establish this helpful tactic.
Moreover, while looking for ways in increasing your sources for money is highly important, it may also be best to look into the option of establishing an income source that can have a continuous cycle of earning even if you are doing other things elsewhere. I am talking about passive incomes. Examples of these may be in the form of apartment businesses and the like. Other real estate properties or buy and sell would also be good income sources that can have a continuous cycle of gaining money.
7 Reasons Why You Will Never Achieve your Goal to Become a Millionaire
A lot of individuals have taken the bold step to set the goal to accumulate a million dollars within a specific time frame and they are pursuing that goal vigorously. Despite the enthusiasm and determination displayed by these potential millionaires, the sad truth is that over 80% will fail to hit the goal.
Do you want to know why 80% will fail? Do you want to know how to avoid been part of this 80%? Then read on as I highlight seven reasons why you may never achieve your goal to become a millionaire.
a. You are obsessed with the goal-: Yes, the first reason why you may never become a millionaire is because you are trying too hard to hit the goal. You’ve allowed your mind to be clouded with the thoughts of making a million dollars without realizing that the goal is not important. More important than your goal to hit a million is the process by which that goal is achieved.
To every worthwhile pursuit in life, there’s a process. Successfully undergoing the process to make a million dollars is more important than the goal itself. Now what if you set the goal to become a millionaire and suddenly, you win a lottery ticket to the tune of a million dollars? You may celebrate your success because you’ve achieved your goal but the problem with achieving that goal is that the process can’t be easily replicated.
The point I am trying to drive home is that the process by which you intend to achieve your goal is actually more important than the goal itself. So I will advice you take your mind off the goal and concentrate on successfully completing the process.
b. You want to become a millionaire overnight-: Why do people play the lottery, gamble and speculate on stocks? The answer is this: they are hoping to make a one-time kill; they want to make millions overnight. If you are in the category of people hoping to hit it big overnight, then I am sorry to say that your dream may never come true and that’s the truth.
c. You are using the wrong approach-: So you want to become a millionaire? Now the question is: through what process do you intend to achieve that goal? What approach are you using? 100 individuals might be on the same goal with you to make a million dollars but each of these individuals is going to take different paths towards that goal. They may all hit the goal but their approach is what really matters. That’s why I said the process is more important than the goal.
Some people try to make millions of dollars by playing the lottery, others try to hit it big through gambling and the rest may resort to stock speculation. Some may even start a business or go looking for a high paying job. The question again is: what approach are you using. If you resort to playing the lottery, gambling or stock speculation, then your chance of becoming a millionaire is slim and even if you hit the goal; you stand to lose your gains in due time.
d. You are not disciplined-: Lack of discipline is another reason why you may never become a millionaire. Most people take the pain to set goals, write plans and establish priorities but they don’t make headway because they lack the discipline to either execute their plan or stay focused on their plan. Don’t make this mistake; focus is key to achieving any goal.
e. You are lazy-: Many people dream and fantasize about making millions but only few will lift a finger to do something about their dreams.
“We live by hope; but the reed never becomes an Iroko tree by merely wishing.” – Anonymous
f. You have poor spending habits-: One of the obstacles people face when in pursuit of financial goals is that of budget allocation. Most people cannot imagine themselves committing a certain amount of money daily or monthly towards the actualization of their goal. Others just can’t stop spending on impulse and the hard truth is that without proper money management and resource budgeting, you may never achieve your goal to become a millionaire.
As a man thinks in his heart, so he is. If you can’t imagine yourself a millionaire, you will never become a millionaire no matter how hard you work. Most people see the goal of making a million dollars repeatedly as an impossibility and unfortunately, they are right in their own perspective.
As a final note, this is my ten step guide on how to become a millionaire fast in less than a year. Reading this article will never make you a millionaire, implementing the tactics or steps will. If you are determined and committed to the process, you will become a millionaire. At this point, I leave you with this quote:
“Anything the mind can conceive and believe; it can achieve.” – Anonymous
“Becoming a millionaire or billionaire is not the real challenge, maintaining that status is the real challenge.” – Ajaero Tony Martins