10 Habits of Millionaires - Entrepreneur Millionaire

A few days ago, I did a post titled “10 Habits Keeping You Broke,” today I want to release a post that flips the script titled “10 Habits of Millionaires.” I hope you can takeaway a few things.

1. Limit TV Watching

According to Dennis Kimbro’s research on Black Millionaires, they usually refrain from watching reality television and limit themselves from watching too much television in general.

The TV is a time sucker and will cause you to not have time for more important things such as building your side business. One way of enjoying your TV time while working on your side hustle is to come up with a ratio. Watch 1 hour of television for every 4 hours you put into your business.

2. Create a Morning Routine That Helps You

All of us more than likely have a morning routine. The question is if your morning routine is helping you or not. An example of a not so helpful morning routine would be you hitting the snooze button multiple times. Then, you rush to get dressed and go to work.

A better morning routine would be to wake up early, pray/read a scripture, write down goals, drink some green tea/coffee, read, exercise, shower, then get ready for work. With this morning routine, you have primed your mind and body and will have advantages when faced with challenges throughout the day.

3. Spend More Time Working on Your Side Hustle

Ok, I know you think that you have no time to focus on your side hustle. From school, work, and maybe kids, by the time you come home you just want to relax. Depending on your financial goals, you are highly unlikely to create a sizable income on just 5 hours per week.

If you really want to quit your job, you have to make time for your side business. Either by waking up earlier or going to sleep later, there are no shortcuts. Take an in-depth look at how you are spending your time. What are some time wasters you can eliminate today?

4. Spending Less Than You Make

Being bombarded with advertisements of new shiny objects every single day is a challenge we must battle daily. We tell ourselves, “I get paid Friday, let me go ahead and buy it,” because we are impatient. We may even take out a loan, because we couldn’t wait until we saved up enough money to buy it straight out.

Without the patience of saving money to buy stuff, it will be extremely difficult to become financially free. The only way to save is to spend less then you make. It’s an endless cycle that will lead to you having more money than you ever thought you could have.

5. You Plan and Take Action

Instead of wishing and hoping for things to happen. You write down your goals, you make plans on how you can achieve those goals, then you take daily action towards the fulfillment of those plans.

This process has been repeated time and time again by the most successful people in the world. You must not only have a vision of what you would like to achieve, but you also need the consistent daily action to make it happen.

6. You Have Realistic Goals

I can’t tell you what you can or cannot achieve. However, when you are first starting out you need goals that will challenge you without completely destroying your confidence.

For example, if you set a goal to earn $1 million dollars in one year when you have never made $50,000 in one year you’re being very unrealistic. It is possible to have a big jump in income if your business takes off big time, it just rarely happens. For most people, it’s a process. The first 6 months you make a total of $1,500 then the next 6 months you make $30,000. You keep doubling down on what works and eventually you may have an income of $1 million per year after 8 years of blood, sweat, and tears.

Remember, make your goals challenging without killing your confidence and motivation to achieve them.

7. You Listen More than You Talk

You love listening to what people have to say. Asking questions to dig deeper and find the golden nuggets every human being has to offer.

People enjoy talking to you, because they feel like you do not judge them in anyway. You are seen as a great listener and make friends quicker than most people.

Listening to people is a rare trait that is attractive for many different reasons. Learn this skill.

8. You Go Above and Beyond

Aim to over promise and over deliver. It’s a deadly combination that will differentiate you from your competitors.

For example, let’s say that your customer is expecting a box of chocolates. So, you send them a box of chocolates one day early with a rose and a personalized note thanking them for their purchase. Do you think that customer will purchase from you again?

9. You Surround Yourself with Positivity

Your friends are people who are more optimistic than pessimistic. They offer you constructive criticism with ways to improve.

What if you have friends who shoot down all of your ideas without giving you any suggestions? Then, you either have bad ideas or your friend is not the positive person you want to be around. Guard your circle, it can make the difference in staying motivated to achieve your goals.

10. Never Surrender

Push through all obstacles and challenges to reach your goals. The growth you will experience as a person is more important than achieving the goal itself.

Imagine the sacrifices and struggles you will have to endure along the way. Look at them as opportunities to expand your comfort zone and become the person that deserves your goal. If you quit during your journey, you may do so right before you achieve what you wanted to achieve. You never know if you give up.