I was thinking of posting a business opportunity or a home business but I accidentally found an article about how millionaires made their millions. Having their traits in my opinion, is the most important thing for having a successful business because even if we like to start a business, if our minds are set in the wrong direction, I think success is really out of reach.
In the article there is a teaser that catch my attention that says ‘“They’re just like you. But with lots of money.” I think its true because when you read their success story, the only difference of a millionaire from an ordinary person is their determination, passion and frugality. I always think that the secret of becoming a millionaire is very hard to know but once you learn about their secrets, it doesn’t look like a secret after all. The hardest thing to do is to imitate their discipline which includes frugality and determination. Normally our spending habits and fear are the greatest hindrance.
I’ve listed the five ways below and you can read the full detail here.
1. Set your sights on where you’re going
2. Educate yourself
3. Passion pays off
4. Grow your money
5. No guts, no glory
The Biggest Secret? Stop spending.
Written by Manuel
Manuel Montala was an online entrepreneur who enjoys blogging about entrepreneurship and gathering information for his blog to help budding entrepreneurs. You can also reach him on twitter: http://twitter.com/mmontala
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{ 7 comments… read them below or add one }
thanks a lot i learn alot about you wrote. and now i shall stop speding all the time..
amor..
Big key here…don’t spend. In the U.S. much of our recent economic trouble has come from uncontrolled spending. Capitalism works but it has to be controlled by morals and self control…otherwise it eats its self. A little off topic but another good reason not to spend none the less. Good basics for making money!
it is not how much we make, it is how much we keep that determines our net worth.
Recently I was watching TV and I saw Ai-ai delas Alas in the trailer of her latest movie as she said these words “Kung kaya ng iba, ipagawa mo sa kanila.” Later on I realized that it was part of series of supposed to be funny mangling of common Pinoy sayings, the original target of the joke being “Kung kaya ng iba, kaya ko rin!”
I was about to dismiss it as just another of Ai-ai’s funny antics when I recognized that there is a nugget of wisdom in what she was saying. Especially when taken from an entrepreneurial context, this is perhaps one of the most common travails of mom-and-pop enterprises who fail to cross over to bigger business. At the point when they are about to expand, there is a tendency to freeze out of a feeling that if they will not be the ones to do it, it will not be done properly at all. Or worse, whatever others can do, they can do better.
“Kung kaya ng iba, ipagawa mo sa kanila.”
That’s how Henry Sy built his SM empire. That’s how business empires are built.
Just a thought.
Great Article! i learned a lot
Three years ago, an information technology company that I started with some partners broke up and brought me serious disappointment. I
thought I would totally leave the information technology business for
good and would not even dare set up a new one. But one day I
discovered a remarkable opportunity that has since then set me back on the track to a revitalized appreciation of IT-based businesses. With
very minimal skills in website development and without even an
exceptional graphics ability I soon found out that I could very well
churn out very nice websites that didn’t take too long to finish. I
also discovered how to set up my own web-hosting business and was able to start and grow one with very minimal costs. Now that business is
doing quite well, with a growing customer base that is giving me a
recurring revenue stream that is almost close to passive income.
Read the full story at:
http://blogangmundo.com/lemurian/how-i-got-into-the-website-business.html
@Boogie
Thanks for sharing your story.
Congrats to your success! I think you are already a millionaire.
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