Life Hacks

6 Important Skills of Self-Made Millionaires

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Written by Luisa Brenton

Now there are a lot of different kinds of millionaires. There’s tall ones, small ones, fat ones and thin ones. They come from every walk of life and every sector. Some worked their asses off from a young age, others just got lucky.

Some might argue that there isn’t really that much to unite them. On that regard, however, I’d disagree. Millionaires might be different in many ways, but those that didn’t get rich through dumb luck do seem to have a number of traits in common.

They have common sense

Common sense, or street smarts, is the first skill that’s essential to have to get rich and therefore a skill that most self-made millionaires share. Common sense, some of you might now be muttering, what’s so special about that? Well, actually, a great deal is, because though ‘common’ might be in the name, it’s not a trait commonly found.

Common sense is also known as ‘fluid intelligence’ among the egg heads. It’s your ability to make connections, see patterns and understand other people as well as their wants. It is different from book smarts or ‘crystalized intelligence’ as the other one is known, which is how well you understand a program or a game of chess.

People with common sense often use people with book smarts to do a lot of the technical work for them. They see them as useful tools to get things done. You don’t see that happen that often the other way, though.

As you might have guessed, it can’t be learned from books, it can only be learned from other people. And if you assume you’ve got it, without checking the facts, comparing yourself to those around you, or recalling countless incidents just to be sure, then you probably don’t.

Be proactive and identify opportunities

Common sense is not enough. You also have to be proactive, as otherwise, you will miss the opportunities that life throws your way. Because every time you wait, somebody else will beat you to the punch.

In fact, proactivity isn’t enough. You’ve got to be able to see an opportunity when it presents itself. That takes a special kind of insight. It means you’ve got to see thing differently from those around you. If you regularly think of solutions where others see problems, then you might have the kind of mind that can make you a millionaire.

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Focus on actions over words

In fact, you need to be a doer in general. Don’t let yourself get stuck in the ‘buts’ and ‘what ifs’. Instead, you have to take action. Now, to be clear, that doesn’t mean that your actions will always succeed. But then, failure is a big part of success with most self-made millionaires having to try their hand at several ideas, companies, and schemes before they find one that works.

That doesn’t mean you shouldn’t develop your communication skills but it does mean that if you’re only talking, you’re probably full of hot air. They are, after all, self-made millionaires, not self-spoken millionaires.

There is a second way in which you’ve got to realize the importance of actions over words – and that’s with other people. Other people often talk a pretty game, but that isn’t enough. If you’re looking for people to work with, they can’t just talk a good game. They’ve got to walk the walk as well.

Have a vision and stick to it

You’ve got to stay loyal to your ideas. If you think you’ve got a winner, you’ve got to stick with it, work at it and make it happen. Don’t water it down, don’t get lost in the woods, focus on making that vision a reality.

Because compromise is rarely the way to wealth.

The best way is to actually create a vision, of course. Write it down, talk it over, edit it, revise it, put it away, take it back out again and distil it to the truest, best form. Then you’ll always have something that you can refer back to when somebody comes along with a new concept. Does it fit within the idea that you’ve got or is it some kind of extra appendage?

If the former, then go for it. If it’s the latter, however, then it will just dilute what you’re trying to do, make you lose track of where you’re trying to go and compromise your vision. That’s not the direction you should take and you shouldn’t give in to it.

Never stop learning

Just because you’re succeeding today doesn’t mean you’ll succeed tomorrow. For one thing, the world is constantly changing, growing and developing. For another thing, the ground is constantly shifting and you’ll never know what bizarre landscape that you never imagined you’ll be looking at next.

The best way to make certain you don’t get caught out  is to keep learning, growing and enhancing your understanding. That means that you’ll always keep an open mind for new ideas and always strive to understand new developments. If you want to be confident in some new areas you can order some research works from here: http://www.trustmypaper.com/write-my-research-paper.

The only time you should stop learning is when you’re dead.

Be effective with your time

A self-made millionaire cannot run all of their own affairs. They need help. And so you’ve got to learn how to delegate. Now, delegation is a skill like any other. You’ve got to learn how to understand what other people are capable of and then give them enough instruction so that they can actually get the job done without micromanaging them.

As tomorrow there might be an emergency where you’ve got to be absolutely certain you’ve got the skills in hand to do it properly, you’ve got to start today. So find a few tasks to delegate, find the right person to delegate to, and start the learning process while you still can.

Last thoughts

The world isn’t going to make you rich. Only you can make yourself rich. It won’t be easy. It might take some serious changes to who you are and how you work. But if you’ve got the wherewithal and you’re willing to put in the legwork to give yourself the capacity to capitalize on the opportunities that come your way, you’ll have a good shot.

And if you don’t? Well then enjoy your stay among those who never make it past the five figures.

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Luisa Brenton

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