There are only 4 ways to get capital. Save it. Borrow it. Trade equity for it. Create it. The problem with three of these ways is they take a lot of time. Sometimes many, many years. Do you really want to wait, struggle, beg, and hope–when you can access capital almost immediately, by borrowing it from someone who already has plenty of it and lends money out to anyone who demonstrates they can manage it? READ MORE…
The book of the week was How To Make Millions With Your Ideas by Dan S. Kennedy. This book made some good points, but overall it wasn’t my taste. I think a lot of the ideas in this book are a little pie-in-the-sky and I like to focus on basic business and leadership principles that do not require luck, just skill.
If you like freelancing, stick with it. Read and learn as much as you can. Put all your efforts behind it. Treat it like a real job/business. Dedicate specific hours of the day to it like you would with a real job. Do this for a few months or so, and I guarantee you will start to make decent money.
Stop looking for the shortcuts or quick fixes. Huge wealth, and even quick wealth, IS possible, but you’ll have to do plenty of personal groundwork and deeply internalize a number of paradigms and behaviours that are, at the moment, quite unnatural to you. If you had already done this, you wouldn’t be asking the question on Quora.
P. S. S. Many of my friends and associates have suggested that I charge for this valuable report, but I have decided to share it, in the hope of helping you create the success that I have been fortunate enough to achieve.
I hear from many folks that they are just tapped out. That every dime they make goes to the mortgage payment, food, utilities and just getting by. For some, that’s true. For others, it may be more perception than reality. But the real question is whether you are willing to make some changes either in what you make, what you spend, or both, to improve your finances.
Thanks for being so open with your story too. It’s always nice to compare yourself to real life examples. Right now I’m saving 60-65% of my take home pay. I’ll hopefully reach a million, along with an early retirement, in about 10 years.
I am now a multi-millionaire, and I have never had my own business, invented anything or inherited one red cent. What I have always done is paid myself first. Especially in your twenties, max out your retirement deductions, or at the minimum put in an amount that maxes out your company match. The money I contributed in my twenties now accounts for ⅔ of my net worth, even though I contributed much more each year in my thirties and later. Such is the power of compound interest!
While there is not much we can do about the first two jack ma how to become a millionaire of the funnel (besides encouraging town growth and dog ownership), we CAN make some changes to the third, fourth, and fifth steps in the funnel.
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If photography happens to be your thing and you are good at capturing that special moment, you can trade your skills and expertise with a number of stock photography sites. Basically what you do there is to upload the shots that you have taken.
Tanning booths and plastic surgery. You can get skin cancer for free outside if you’d like. And do nose jobs and botox injections ever look as good as promised? Learn how to age gracefully! You’re not the only one getting older.
If you have the discipline, building your net worth up to a million dollars or more takes nothing more than time. If you do not have the discipline, then even a $150,000 a year job will not help you reach a seven-figure savings goal.
I’ve really enjoyed hearing some more details about your story. You’ve told your story on a lot of podcasts, but this definitely felt like a more insider view. I’ll be hosting my first webinar shortly, so thanks for all of the great insights on that.
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