How to Become A Millionaire In 5 Years or Less

How to Become A Millionaire In 5 Years or Less

A Google search on, “How To Become A Millionaire” will return over 100 million hits!

Many of them will offer advice similar to the advice found in this blog post by Benjamin P. Hardy.According to his bio, Benjamin P. Hardy is a husband and a father, a PhD and the author of a book titledWillpower Doesn’t Work.He doesn’t say if he is a millionaire.

What Mr. Hardy offers is standard self-development advice.  However, self-development alone will not create an income.

Focused hard work is what it will take if your goal is to make a million dollars.

Been There, Done That

There was a time I wanted to be a millionaire and I tried to get there with aphorisms, motivational books, and expensive encouragement from people who claim to have done. In short, I drank the Kool-aid.

That was years ago. Since then I’ve learned a lot. I’ve made – and lost – a lot of money and I now see the promise in this advice for what it is– self-serving persuasion.

Here, in summary, and in two blog posts. (there is a lot to unpack) are the ten quick and easy steps, offered by Mr. Hardy, to becoming a millionaire quickly, and my thoughts and insights based on my sometimes painful wealth building experience.

Advice #1: Have A Wealth Vision

This is the standard first step and one I begin with in my book. Although, I first recommend some serious thinking about what “wealth” means to you before setting out to make a million dollars.

“I will be making $1,000,000/year by January 1, 2022.”

Sorry to be a downer but this vision is incomplete. Money will not fly in on a gust of wind. You will first need to create something, a product or a service, worth one million dollars in value and then, if your sales and marketing are good, you can exchange your product for a million dollars.  If your goal is to make a million dollars you will need to have a plan.

Develop A 90-Day System for Progress

“Every 90 days review your progress and take note of your “wins”.  Track your money, health, time and progress in the areas you want to succeed.”

I don’t have a problem with reviewing progress but the focus on “winning” might derail your motivation.  Not all forward progress is a win.  Instead track what you’ve learned.  If you haven’t smashed your goals this quarter, why not?  What needs to change?  Review but do it with compassion and patience and a willingness to learn.

Develop A Routine to Keep You in A Flow State

“Flow is characterized by complete absorption in what one does, and a resulting loss in one’s sense of space and time.”

I encourage you to understand the concept of flow as explained by Mihaly Csikszentmihalyi in this video.

Flow requires both a level of expertise and a challenge. For example playing a difficult piece on the piano can be absorbing but only if you already know how to play the piano.Flow is not something one can schedule into a day.

Accept the fact that life is not going to be a constant high. Life just isn’t like that. Nor is building a business.  Building a business that will make you a millionaire in five years is going to be hard work, time consuming and likely fraught with setbacks and problems.  You can get there but some days will suck, and the future be uncertain.  You might experience of moment of flow but the rest of your day may be dull, dirty and difficult. That’s life. Don’t let it stop you.

Focus on Results, Not “Habits” or “Process”

“Keep in mind that the only thing most people really care about is the score on the board. Everything else is hype.” — Forbes

What do you want and what are you willing to do to get it? Despite what you might have learned as a child, these days success, and the admiration that goes with it, is not about cleanliness, godliness or honor, it’s about results.  But, for some of us, results can be about something else besides money.

A laser focus on results, is a recipe for an unbalanced life.  When you follow my plan for creating a business that matches the life style you choose. Your results may be subtle: peace, love, health, happiness but your life will be full, and you will be wealthy.

I unpack a few more nuggets of advice in the next post.

 

Photo by Sharon McCutcheon on Unsplash

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