It seems as if the modern day middle class is a millionaire. However, that doesn’t diminish the fact that most people are looking to achieve this level so they can live a comfortable life.
Achieving the millionaire status can be simple, but it’s not easy. Especially if you’ve never done it before. Since we all understand that hitting your first million is probably the hardest – I interviewed Matt Morris who’s actually hit over a Billion in sales.
Who actually at one point was over $750,000 in debt and went on to earn over $10M personally and professionally over the next decade. We wanted to interview someone who’s done this ten times over, not someone who’s barely achieved the goal you want to hit.
In this article we will dive in to what you need to know to hit millionaire status.
Finding Your Level of Motivation
Motivation does not naturally come to play if you don’t know what motivates you. In fact, even if you do know what motivates you, it only lasts for so long.
There’s 3 different levels of motivation. Matt states that most people work for money which is a shallow goal and provides a shallow level of motivation. A deeper motivation is working for recognition and significance. But the deepest level of motivation is when you are working to fulfill your purpose in life.
When you know why God put you on this earth, you become naturally inspired to create because it expands who you are as a person. I recommend going deep into who you are as a person so that you can find what your purpose is so that you can hit the big goal you want to achieve.
Without this, the chances of you hitting your goal are slim.
Finding a Mentor
Almost every entrepreneur you know of will tell you to find a mentor. Matt can’t stress enough how much this makes a difference. Why struggle more than you have to in this road of entrepreneurship? Why take 5 years of learning when you can cut your learning curve to 1 year?
For example, Matt struggled for 5 years as an entrepreneur before he found a mentor who he could work with directly who had already achieved the goal of being a millionaire. So he not only learned everything he could being directly under him, but he had a personal mentor to work with directly to guide his specific actions.
We all know that specific actions lead to specific outcomes. When you have a mentor cutting the learning curve and telling you exactly what you should be doing, your outcomes will more than 2x.
Become an Industry Expert
Become an expert. At whatever field you choose to pursue, make sure you are in the top 1% knowledge level compared to everyone else in the world. It may sound challenging, but the fact is, if you read 5 books on one subject, that’s more than what 99% of what everyone else in your field has ever done. If you want to become a millionaire and be in the top 1% of 1%, read 50 books and devour everything you can on this exact topic.
You can not expect to reach the millionaire status with average actions or average expectations. If you choose not to become an expert in your field, don’t expect to reap the rewards either.
The same concept applies with the action. Even if you devour everything from the 50 books you read – are you putting any of it to work?
No matter how much you learn, nothing works if you don’t work. Knowledge is not power, APPLIED knowledge is power. No one ever learned how to ride a bike by simply reading a book or watching a video. You have to be willing to get on the bike and when you fall, get back on and try again until you figure it out.
Sometimes, just like in business, falling hurts, but the best in the world had to be bad before they were good. So be willing to accept a temporary loss of social esteem from ignorant people.