Hitting the millionaire mark is a huge milestone for most people
especially for someone that started building their wealth from scratch
but have you ever wondered what distinguishes self-made millionaires
from the average joe the thing is millionaires practice
certain habits that place them in a better position
to run successful businesses and sustain their wealth
so if becoming a self-made millionaire is within your life plan
then you need to start doing things differently which is why in this video
i will share with you seven habits of self-made millionaires
and if you're new to the channel then hit the subscribe button below for more
life-changing content habit number one under-promising and over-delivering the
first habit of self-made millionaires is under-promising and over-delivering
you've probably heard that one of the greatest components of success is
performing beyond the set expectations the surest way to do this is to
underestimate your abilities in front of other people
although there's conflicting opinion on whether the strategy works or not
it's a habit that most self-made millionaires swear by
you see when you promise someone something they tend to expect
nothing less than what you pledge if you want to impress the person it's
advisable to guarantee slightly below your potential
particularly when it comes to business under promising and over delivering is a
surefire way of wooing customers and it can take different forms assuming
you promise a customer that you'll deliver their package within six working
days and you dispatch it within three working days
you'll have automatically built an excellent reputation for your brand in
your customers eyes as a result they will likely come back
in the future and even advertise your business to their friends
since brand building is one of the ingredients of becoming a market leader
self-made millionaires are known to use over-delivering as a success strategy
even in the workplace over-delivering is a sure-fire way of gaining the trust of
your mentors and reinforcing your credibility
whenever you have a task at hand always leave some wiggle room for exceeding
your supervisor's expectations it can mean handing in an assignment
three days earlier than you had promised or surpassing the numbers of sales that
your team had forecasted under promising and over-delivering is a
tactic that has gotten many self-made millionaires where they are now
and you should probably start applying it too habit number two
being proactive another habit of self-made millionaires is that they are
proactive the thing is many people have big dreams
throughout their lifetime the only problem is that out of all
these people only a handful realize that you can't dream your way to a better
life you have to take action the few
individuals who are brave enough to take the driver's seat and act on their goals
are the ones that make it in the end and these are the proactive individuals
simply put being proactive means taking charge of situations within your control
and deriving your desired outcomes a dynamic nature pans out as being in a
position of power and agility both of which are
critical to success proactive individuals act fast when they
spot opportunities and they don't allow unfavorable circumstances to rule out
their chances of winning unlike their reactive counterparts who
wait for other people to take action for them to react proactive individuals
don't know how to hold themselves back maybe this is why it's a habit of
self-made millionaires to hold this close to their hearts
instead of taking the back seat and waiting for things to play out
millionaires prefer getting their hands dirty
with business investment and careers self-made millionaires have the habit of
taking the wheel they go into details of their projects
without being asked to and even once they own their businesses
they don't wait for miracles to happen in the corporate world these are the
individuals who ask for raises and promotions instead of waiting for their
boss to hand it over to them actually you'll find its proactive
mindset tends to spill into their personal lives
they are probably the advisors in their friendship circles since they tend to
have sharp problem solving skills too so if
you want to bootstrap your way to the top
adopt a proactive mindset and stop waiting for miracles
habit number three holding yourself accountable
the third self-made millionaire habit is holding yourself accountable
self-made millionaires value accountability and it's next to
impossible to find them giving excuses for their mistakes
or shifting blame when they make a wrong move they take responsibility for their
actions whether the results are desirable or not
you see the problem with most people is that they desire to own something
big but are unwilling to take responsibility when things turn ugly
when you hold yourself accountable as a leader you spend less time on activities
that will act as obstacles towards your goals
and more effort to block the little nudges that could impede your progress
if you're familiar with maritime tradition you've probably heard that the
captain always goes down with the ship when it
happens it won't matter what role the cabin crew or
anyone else played to sync it being the captain you either ensure
everyone disembarks safely or you die trying although a bit extreme
this is the same sense of accountability that self-made millionaires have
once you acknowledge that you have no one other than yourself to blame at the
end of the day you will do everything in your power to achieve your goals
it could be a business a one-time project or even a lifelong career
being accountable to yourself will birth a sense of seriousness that will reflect
on how you handle business and this doesn't necessarily mean that
you won't fail along the way you will but your degree of
accountability will shed some light on whether or not you are right for success
it doesn't matter whether you weren't born rich or whether your employees keep
coming late to work you are responsible for your life and
your wealth habit number four delaying gratification
another common habit of self-made millionaires is delaying gratification
building wealth consistently calls for deep sacrifice and it's not a journey
for the faint-hearted for self-made millionaires
it's a journey that begins at a point of financial deprivation
hence instant gratification is often not a choice
self-made millionaires are masters of delaying gratification
and even despite their ballooning net worth it's a habit they can't shake off
quickly you'll find them opting to live frugal
lifestyles and even drive around and use cars that you and i can afford
you'll also find them waking up early and sacrificing extra hours of sleep to
chase their dreams they do this because they believe in the
long-term rewards of delaying gratification
instead of buying a brand new car for example a self-made millionaire would
instead invest that money in the stock market and enjoy the bountiful financial
rewards years later similarly you need to adopt
this delayed gratification mindset if you want to achieve financial freedom
you'd rather deny yourself that iphone today and be able to afford 10 iphones
in the next few years then buy it now and hurt your chances of
growing your money another benefit of delaying
gratification is that it will help you snap out of impulse buying
learning how to postpone gratification will ensure that you stick to your
shopping list and save more money so the next time you
feel compelled to splurge on unnecessary things
think about the kind of financial future you want then throw that money in your
savings jar instead habit number five self-motivating moving
on another habit of self-made millionaires is that they are
self-motivating this quality implies that they possess
inwardly generated drive and ambition that motivates them to work hard
and pushes themselves to achieve great things self-made billionaires are their
own cheerleaders and just like them it's a habit you need to start
practicing if you look into the success stories of most
wealthy people you'll discover that some encounter painful rejections
along their journeys some had brilliant job opportunities slipped by them
and some had their dreams belittled by people close to them
nevertheless they pressed on and eventually launched their successful
ventures because they had a strong force driving them
this force is what we refer to as self-motivation and it can take
different forms it could be fear of poverty philanthropy
the desire to provide solutions to problems
or even the pursuit of a better quality of life
just find something that makes you jump out of bed every morning even when you
would instead go back to sleep find whatever makes your
dreams worth pursuing and chase it vividly it is essential to
acknowledge that self-motivation will keep your enthusiasm burning even amidst
challenges it's not easy to start from the bottom
and amass significant wealth if you are not your own cheerleader
so start motivating yourself now habit number six seeing failure as a part of
success one of the most notable differences
between successful people and failures is their perspective how you perceive
outcomes such as a defeat can have a significant bearing on
whether you make it in life seeing failure as the end of the road is
a bad trade often associated with ordinary people
which is why self-made millionaires choose to see failure as part of success
successful people learn from their mistakes and every time they fall
they always bounce back with renewed zeal
similarly you should not give up if things don't go the way you plan
it's okay to make mistakes and it's okay to fail sometimes
what's not okay is letting failure overshadow your ability to dream big and
achieve your goals if you expect to become wealthy be ready
to experience all kinds of failures from losing big deals making wrong
investment moves to going bankrupt all these are possibilities in the
business world but once you learn how to handle failure
like a boss you'll have an easy time transforming it into something bigger
failure is an excellent opportunity to re-evaluate your strategies and do
things differently after all it's only a fool that does the
same thing repeatedly expecting different results
life is not a fairy tale so if your company is continuously underperforming
there's a high chance you are doing something wrong
having such a mentality when dealing with failure is why self-made
millionaires make it in life if you pick up this habit and start
seeing failure as a stepping stone to greater opportunities
you'll be one step closer to achieving success
habit number seven committing a hundred percent
what stops most people from achieving the millionaire status is that they give
up too quickly see the journey to financial freedom is
challenging with so many obstacles along the way
most people often give up halfway or end up distracted by other life commitments
it's only a few people who commit 100 to achieve their financial goals
and pushing forward even when things get tough self-made millionaires are part of
this group now don't get me wrong committing is
difficult it requires a heightened level of discipline and determination that
only a fraction of individuals have which is why only a fraction of the
world's population becomes successful so with that said what does it mean to
commit a hundred percent rather how can you fix your eyes on the
prize without losing sight along the way well it's possible start by writing down
your goals clearly and then set up individual strategies that will help
achieve each of the outline objectives if you want to become a self-made
millionaire for instance you need to draw a clear map that will get you there
whether through entrepreneurship or a smart investment pick the means you will
use to get rich and stick to it until the end
don't forget that the grass is always greener on the other side and it may be
tempting to jump from one goal to the other
don't do it commit to watering your grass and you'll see it transform
into the greenest grass you've ever seen there you have it seven habits of
self-made millionaires thanks for watching if you want to go
from the life you have to the life you deserve
then hit the subscribe button now