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If You Dream to Become a Millionaire, Then this is a Must-Read

December 18, 2015

Many entrepreneurs strive for millionaire status and the luxury lifestyle that goes hand in hand. For most unfortunately they will not have fine-tuned their skills enough to ever accomplish this status.

After drawing inspiration from an entrepreneur who turned millionaire on what he changed to achieve his goals, Tommy Smith CEO of WM Exchange Inc. implemented the following which led to the firm being welcomed to the ‘Millionaires Club’ at an industry event earlier this year.

  1. Communication – All types of communication need to be of a certain class, whether it be an email sent, a telephone call or a face to face meeting. Each time communication takes places it adds to the person’s brand. Those who can excel in communication will attract more business opportunities.
  2. Sales – Understanding a sales process will take a career to the next level. Sales are the highest paid profession worldwide and whether people like to admit it or not, everything we do revolves around sales in some shape or form.
  3. Marketing and Branding – Don’t underestimate the value of a reputation, once tarnished it is costly in both money and time to attempt to repair. Take care of it along the way in your entrepreneurial journey, nothing adds more value than a good brand.
  4. Emotional Intelligence – Remember what Theodore Roosevelt said: “People don’t care about what you know unless they know how much you care.” By understanding the emotions and how situations evolve and the repercussions, a successful entrepreneur can understand motivation, body language, tone of voice, tact, diplomacy, empathy, and everything related to emotional intelligence. Millionaires understand this is learned by giving everyone around the attention that they deserve.

See: It’s Time for New Year Resolutions. Buy Time to Reorganise yourself in 2016!

  1. Product and Service Innovation – By understanding a market and improving an existing product or service will allow an entrepreneur to take their earning capacity to millionaire level. Millionaires are problem solvers, and their solutions earn them the big bucks.
  2. Organizing – by being organized, it allows the millionaire to be adaptable under change which is a crucial skill in business, if success is to be achieved. By avoiding time waste it allows business opportunities to be further explored, avoiding potential failures and seizing great opportunities.
  3. Goal-Setting and Planning – Follow the 5 P’s: Proper Planning Prevents Poor Performance. Opportunities arise for those who have excellent planning and execution skills.
  4. Money Management – it is important to understand the importance of finance management, to be responsible with small amounts of money, allows the success of managing large amounts effectively. Understanding how to make money work for you is crucial for any millionaire looking to further increase their wealth.
  5. Philanthropy – Millionaire’s like to share their wealth. By making astute decisions on where to invest or donate money to will add value to the check, by adding time to the monetary donation allows millionaires to continue giving after the funds run out.
  6. Networking – your network is crucial. A strong network will create solutions and business opportunities simultaneously. Lend a hand when able to and the favour will be returned.
  7. Leadership – Millionaires know when to take responsibility and initiative when tough situations occur. Strong leadership skills are crucial in the journey to become a millionaire.
  8. Time Management – effective time management will be the defining factor on your ability to become a millionaire. Prioritizing tasks and making sacrifices along the way will help reach the goal faster.

Also read: 5 Important Tips to Secure Your Retirement

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