Most of the millionaires in the world aren’t celebrities living in massive estates. In fact, you could be living next to a millionaire and you might not even know it.
As it turns out, there are quite a few traits that millionaires share – and it isn’t just what they have in their bank account.
In this post, we’ll take a look at the traits that millionaires have in common, backed by research.
Try incorporating some of these things into your daily life, and who knows – maybe you’re a millionaire in the making.
1. Millionaires Are Self Employed Entrepreneurs
Think it’s risky to start something on your own? Millionaires think the opposite – they think it’s risky to work for someone else.
There’s a certain drive, hustle and itch that these entrepreneurs just have to scratch. They can’t work for someone else – not because they don’t want to, but because they always need something to do on their own.
2. They Dream Big and Have a Strong Work Ethic
Millionaires see the possibilities beyond just the immediate future – they look to scale. Nothing holds them back. Obstacles and setbacks are just potential learning experiences.
They have big dreams, and truly believe that their dreams will come true, even if it means heading into uncharted territory.
With that in mind, achieving those dreams takes some hard work. And a strong work ethic is required.
3. They Choose Their Careers Strategically
The majority don’t tackle a business or product they’re passionate about. Usually, they’ll start a career where they know they can make money by jumping on a trend, or seeing a gap in a niche market. If that trend is something they’re passionate about – then it just makes things even easier. Saying the important trait of an importer
4. Millionaires Have a High Tolerance of Risk and Failure
Failure is a constant feedback loop. Every time you fail, you’ll learn something.
To be a market leader in any business, you have to be willing to take big risks that might fail. You have to be able to get back up after getting knocked down, and use what you’ve learned to grow and keep going forward.
Big bets mean big failures, but big bets can mean big successes.
5. They Are Self-Disciplined and Delay Gratification
Self-discipline is an extremely important and common trait among millionaires and successful entrepreneurs.
By being self-disciplined, millionaires are able to delay gratification in the short term – they’re able to keep their long-term goals of becoming financially independent and successful.
6. They Have Inherent Sales and Marketing Skills
Although they might not think of it, all millionaires have some sort of inherent sales and marketing skills. It’s just who they are as a person. It comes as second nature to them.
7. They Don’t Spend Frivolously
The majority of millionaires today aren’t popping thousand dollar bottles of champagne, buying luxury cars or million dollar homes.
In fact, millionaires find great value in managing their money and planning for a successful, financially independent future.
Now that we’ve taken a look at some of the things millionaires have in common, it’s up to you to take action and start planning to make your first million.
What will your first step be? Let us know in the comments below!