5 Behaviors of Millionaire Entrepreneurs

Millionaires aren’t made by accident. They think a certain way and act a certain way to attain a status many people dream of. Instead of looking at these individuals as an anomaly, think about how they got to that level.

Modeling the behaviors of millionaire entrepreneurs can increase you chances drastically of becoming one. The blueprint is already out there, you just have to apply it to your business.

Here are the 5 Behaviors of Millionaire Entrepreneurs:

1. Set Clear Goals

Do you know exactly what you are working towards every single day? Do you have milestones in place to keep you on track and motivated? Millionaire Entrepreneurs have clear, specific goals that they want to achieve this month and for the next 5 years. Once they achieve a goal, they have other goals to focus on so they won’t become complacent. One way to set clear goals is to use the SMART method. SMART stands for Specific, Measurable, Attainable, Relevant, and Timely. When you are setting your goals, write them down to make them real and to look at them on a daily basis.

2. Gain Knowledge Constantly

Are you making time to read a book in your field that can grow your business? How often are you learning new things to grow your business? Millionaire Entrepreneurs are constantly learning new things to apply to their businesses. The average millionaire reads about 2 books per month. You don’t want to be average, so aim for about 1-2 books per week. They don’t have to be regular books, they can be audiobooks, e-books, or maybe even YouTube videos if it’s relevant to your industry.

3. Work Hard & Smart

Have you put in your 10,000 hours in your field? Are you utilizing leverage to grow your business? Millionaire Entrepreneurs understood that it may take 5-10 years of 12+ hour days to finally become a millionaire. A business requires a certain level of dedication and time to make it a success. There’s no way around it, you have to work extremely hard to make it to that level. However, millionaire entrepreneurs also understood that there are only 24 hours in a day and with technology you are able to build even when you sleep. A majority of people are on the 40/40/40 plan which is spend 40 years of your life working 40 hours per week to retire off of 40% of what you are currently living off on. Millionaire Entrepreneurs know that to generate wealth in a short period of time, they must work hard (80+ hour weeks) while utilizing leverage to be omnipresent in the marketplace.

4. Be Fearless

Are you afraid of failure? Do you cringe when faced with adversity or pressure? If this is the case, then you may not have what it takes to become a Millionaire Entrepreneur. In your journey, you will face hundreds if not thousands of situations that will test your faith and your ability to persevere. Why do you think there are so few Millionaire Entrepreneurs? Everyone wants to become a millionaire, but everyone don’t have what it takes. When the going gets tough, they quit instead of pushing forward. Millionaire Entrepreneurs have tremendous faith in their abilities to weather out every storm and they are rewarded for it. Failure is not real, it’s just something that didn’t work so try a different route.

5. Be Self-Aware

Do you know your strengths? Do you know your weaknesses? Millionaire Entrepreneurs are extremely self-aware and know what they are good at and not good at. Knowing this, they are able to hire extraordinary people to fill in their weaknesses to create an All-Star team. To become self-aware, be honest with yourself. Run a thorough self-diagnostic test by asking yourself what you are good at and what you aren’t good at. Ask family members and friends you trust to be honest with you when you ask them the same questions about you. As a beginner business owner you have to learn all aspects of your business, especially if you don’t have enough money to hire or pay for software. However, once you can afford to, immediately delegate the tasks you hate so you won’t be miserable.

Luck may play a role in becoming a Millionaire Entrepreneur, but remember the formula LUCK = PREPARATION + OPPORTUNITY. If you are ready and apply the skills you have learned, your chances of becoming a Millionaire Entrepreneur increases ten fold.