The 6 Habits of Millionaire Entrepreneurs

The 6 Habits of Millionaire Entrepreneurs

The 6 Habits of Millionaire Entrepreneurs

1. Start with what you have

habits of millionaire entrepreneurs

You may think that in order to start a successful business you need to have everything in order; a business loan, an office, a staff of in house marketers and maybe even an assistant. Well sorry to burst your bubble but it rarely happens that way.

Take a note from Hugh Hefner, the founder of Playboy magazine, who started in his kitchen with a small 1,000 dollar loan from his mom. He put the first magazine together himself, by hand, and didn’t put a date on it because he didn’t know if there would be a second issue. 

2. Be Consistent

“Success is the sum of small efforts, repeated day in and day out.” – Robert Collier

The problem with success is that it doesn’t happen overnight. Without being consistent in your efforts you miss out on your opportunity of success. Pat Flynn creator of Smartpassiveincome.com is the poster boy for consistency and posts his monthly earnings online every month (October earnings $120,217.15).

Being that most of his monthly income comes from his daily continuous efforts in digital marketing, search engine optimization, back linking, and pod casts; He would never have gotten where he is today without consistency.

 

3. Work smart, but never be afraid to work hard

The main goal of any business person is to make money. Making money fast through get rich quick schemes never work out. At best the money you make is at the cost of exploiting someone else’s ignorance and at worst it could mean doing something illegal.

While it’s always a good idea to do things the smart way, don’t be adverse to putting in hours of required work. If you have the funds to hire a freelance writer for your website content, then that saves you time. But if you don’t have the funds, roll up your sleeves and do what it takes to get the job done.

4. Learn to Budget

You must know how to handle your money if you ever intend on being a millionaire. Whether it’s in business or life, budgeting will set you on the quickest path to financial success.

I know it sucks having to stick to a set amount of money to spend every month, but in the book “The Richest Man in Babylon” author George S. Clason reveal that if you stay diligent and know exactly where to put your money, you’ll have a seed that will continuously grow in a very short amount of time.

5. Create a schedule, goal, and plan and stick to it

Habits of millionaire entrepreneurs

You may think that wealthy entrepreneurs have a very leisure lifestyle; they wake up whenever they feel like it, take vacations every other weekend, and generally spend their time however they want. That can’t possibly be further from the truth.

Entrepreneurs don’t have jobs because their business is their job.

To treat it any other way is asking for it to fail. Remember, when you have your own business, you write your own check. If you don’t work, you don’t eat. With that said, it’s important to know that every successful entrepreneur has a goal, plan and schedule that they stick to everyday.

Remember our second habit, consistency. Having a schedule and goal will keep you consistent, and consistency breeds success.

6. Be Willing to Fail

Fear of failure is the reason why most businesses never get started. Being afraid of doing something out of the normal scope of everyone’s expectations will cause you to miss out on opportunity.

As an entrepreneur, you are your business. If you’re afraid to change how things are done and move in a different direction when its called for, you’re business will shrivel up and die.

Despite what society will have you believe, success is not a straight path. It’s a windy road full of pot holes and detours. Being willing to go through all of that to reach your destination is what will make you a success.

Ask writer Stephen King, who had 30 publishers reject his first book “Carrie” before selling the rights to Signet for $400,000.

Becoming a successful millionaire entrepreneur doesn’t happen by luck or chance. It’s not an idea that comes to you in the middle of the night, guaranteed to make millions instantly. It’s a purposeful choice that you make and a diligent path that you walk everyday.

Wake up in the morning with purpose and vision, head towards you’re goal, work hard and one day you will see seven digits in your bank account.

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