How to Become a Millionaire
If you type in Google “How to Become a Millionaire” you will find 1,570,000 results! This means that many people are quite curious to know what it takes to become a millionaire. I am also curious. Imagine the skills you need to earn one million euros (or dollars)… Imagine what would you need to experience, imagine how many interesting people you would meet, to reach this goal…. I am attracted to challenge. Therefore, I decided to make a little research on what it takes to earn a million dollars / euros, or any other challenging amount that you can imagine.
Before that, please note the following. I’m not a millionaire. I can not guarantee that I will become, or that you will. I think it is fair that you know. I do not want to lie and false promise.
Why should you read this than?
On the way to your first million, you will be faced with a couple of very important decisions and challenges. When you’re in front of a difficult decision, you can choose one of several offered solutions. Information here can provide support when choosing a solution. So, I recommend that you pay attention to this post and its resources. It is useful to know what solution you can choose on the path of your first million.
This will be a long article, but I recommend that you explore it well, because you will get a great benefits to your goals.
So, let the game begin!
Below, I have done following:
1. I recognized several important skills that are necessary for almost every millionaire. Except those who earned it with luck (lottery), gambling or inheritance.
2. For each skill, I found and filtered out the most valuable resources.
3. I explained each skill, and put links to (in my opinion) most valuable articles and other resources about this skill.
1. Time management
What is the problem? If you want money, you will need to provide something valuable (for more information about providing value, make sure you read this and this from Steve Pavlina). If you want a million dollars / euros, you have to deliver as much value as you can in less time. It is often called personal productivity. If you constantly provide less value for a longer amount of time, you could not even keep your job, let alone earn a million dollars/euros.
What is the solution? Fortunately, you can learn how to create more value for less time. Today there are specific techniques for providing greater value in less time. And you can learn them for free! This we call “time management”. You will need to continually improve your time management techniques, if you want to create more value for less time. Not only that, you have to constantly seek new knowledge, because sometimes a simple information, properly used, can save you a lot of time.
As part of the solution, I’ll give you below a lot of great resources to master time management skills.
- Time Management from Mind Tools
“This section of Mind Tools teaches you personal time management skills. These are the simple, practical techniques that have helped the leading people in business, sport and public service reach the pinnacles of their careers.”
If you have not noticed, I often put a link to the Mind Tools site, it is because I think they have great information on many topics, and this is one of them.
And also, if you have not noticed, I often put a link to Steve Pavlina site 
it is one of the leading blogs on personal development today, and this article is an unavoidable piece of information if you want to improve your time management skills. Article is a little longer, but I recommend that you read it, because it will save you much time and money, which would you give to learn this same thing.
Another useful and practical article by Steve Pavlina is “Triple Your Personal Productivity“. An excellent, very practical article on personal productivity.
Smashing Magazine is leading site for Web designers and developers. However, in this amazing article you will learn 16 tips on managing time, as well as useful resources.
Stepcase Lifehack is site dedicated to lifehacks. That is for hacks and tips about productivity and get things done. Some good articles on productivity are:
- Why You Should Learn a Productivity System
– 8 Ways to Be Ruthless With Your Time
- 10 Ways To Be Productive in 10 Minutes
- At the end of this article you have a great series of articles “Back to Basics: Revisiting Productivity’s Fundamentals”.
- The 7 Energy Sinkholes (and How to Avoid Them)
Very interesting article from Ramit at “I Will Teach You To Be Rich”.
Interesting site about managing time with a lot of articles that you can use.
2. Saving money
Saving money is control over the circulation of money in order to use it on what is most valuable to us.
What is problem? The money you earn, you can spend at any (legal) way you want. It is your right. However, money is not inexhaustible. It circulates. And you must spend it wiser if you want to have a million dollars. If you do not spend it wise, unconsciously you will spend your money on things that have little or no value for you, and in that case chances to earn your million are extremely small. Even, you will get into debt. You want more from life, right? What is solution? For a simple problem, we have a simple solution. Use your money on things that are more valuable to you. One of the best ways is to educate as much about money, sometimes hire experts, which we will process a little later. But there is a number of saving and wise use of money resources, you could explore. Here are some: The Simple Dollar is a blog from Trent Hamm for “people fighting debt and bad spending habits while building a financially secure future and still affording a latte or two.” Frequently updated and excellent resource with good content. Get Rich Slowly is well known money blog that is devoted to “sensible personal finance”. Here you can find articles on saving money, debt elimination etc. One of the best articles is “Free at Last! Saying Good-Bye to 20 Years of Debt” Some other sites (blogs) about saving your money are:
- Generation X Finance - financial issues for those who were born between 1965-1980
- I Will Teach You To Be Rich – personal finance for college students, recent college grads, and everyone else.
- Wise Bread – community of bloggers with a great forum
(Note: Perhaps you are also interested in minimalism as a way of thinking that you can save money.)
Some interesting articles:
Who Else Wants To Save Money? 88 Tips, Tricks, Tutorials
Force Yourself To Save! 15 Painless Ways To Pay Yourself First
Green Travel: 31 Tips to Save Money & Environment
How to Save Money great article from Mahalo
Some other websites:
KAYAK is a travel search site. You can use this site to find cheap flights that could save your money.
CarBuyingTips.com is interesting website with information that could help you when buying a car.
3. Better leadership
There are many definitions of leadership. I would need another article to present and explain all of them. So we will try to create a definition that would fit this article.
The purpose of this article is to provide information on how to make a million dollars. How your leadership skills can help in that? Well, if we look at leadership primarily as an influence on others in order to earn more money, in this way, leadership definitely helps in making money your first million. It sounds a bit unethical. But, as a piece of the tool can be used to kill someone, although it is intended to help someone, so the leadership can be used to harm others, even though the purpose of leadership to help others. If you are a true leader, you will develop a situation where everybody wins, not only you (win-win).
And if the leadership is, in this article, primarily influence on other people, we need to understand what the influence means? Maki from DoshDosh has a excellent definition of influences in article 11 Ways to Influence People Online and Make Them Take Action which says:
“Influence can be defined as the power exerted over the minds and behavior of others. A power that can affect, persuade and cause changes to someone or something.”
So, we can define what leadership means in this article:
Leadership is power over other people (Influence) with purpose to help us and other people to make money and cause positive changes.
As such, leadership skills are almost a constituent matter of earning your first million. Here are some useful resources that will help you with your leadership skills:
–The Art and Science of Leadership –
Here you can find very interesting articles about leadership, from The Performance Juxtaposition Site.
Read all of this to understand the foundations of management. I also recommend Leadership By F. John Reh, About.com Guide to Management
ChangingMinds.org is the world’s largest free, full-content site on all aspects on how we change what others think, believe, feel and do.
–Effective Leadership from 1000ventures.com – On this site you will find good coverage of the issue of leadership.
Leadership Articles from Learn This – Articles that focuses on leadership, this is a great and interesting source of information.
How to Lead - Inc.com offers excellent place to visit when you need information on How to Lead.
High Performance Teams -
A Website that specializes in power of teams.
Excellent article with the comparison of management and leadership.
4. Entrepreneurship
Entrepreneurs are people who creates and develop new ideas, take resources, and then turn them into something new and useful, usually in new venture, business, product, service…. They often take great risks and the possibility for a large reward. Entrepreneurship is extremely important for the economy and for all people in country.
Throughout history, many millionaires were entrepreneurs. This continues today. Surely you know some. You probably buy their products, or visit their website. From Henry Ford, founder of Ford Motor Co. to Bill Gates, philanthropist and founder of Microsoft. Therefore, it would be impossible to write an article on how to become a millionaire and not to mention entrepreneurship.
I will mention just a few of my favorite sites on this topic, but entrepreneurship is a topic that is widespread on the internet, and I encourage you to explore yourself. Entrepreneur.com is my favorite website about entrepreneurship. This is the best place for all who are interested in business & small business. Ten3 Business e-Coach (1000 Ventures) My second favorite website after Entrepreneur is free version of Ten3 Business e-Coach. A website with some decent information on entrepreneurial creativity and business leadership. It is a little hard to navigate in the beginning, because of the numerous links, but after a while I get used to. Offers a lot of good information.
This will be a two-part article. Subscribe to our RSS-feed to be informed about the second part on which I currently work.
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