It doesn’t take superpowers to become a millionaire. It’s true, I became one at 25 years old, despite humble beginnings. As a teenager, I began studying the behaviors and characteristics of wealthy people.
Furthermore, I’ve read a lot of books, such as The Millionaire Next Door, which inspired me greatly.
By following the habits of millionaires, I was able to change my habits and become a self-made millionaire. These are the top five habits millionaires have in common.
1. Always see the positive in every situation
You can either stay positive and see the best in bad situations, or you can let your goals slip away because of it. Positive thinking becomes a habit if you choose it. As an investor, I am always looking for opportunities to make money. People tend to become very negative about investing after a market crash and wait for the market to recover.
In a crash, millionaires do not behave this way: They see the best and find the cheapest deals. Positive people, on the other hand, are skeptical that it will last, so they do nothing when it’s booming. This is another opportunity for me to buy when it’s trending upward.
This applies not just to investments, but to people as well. A rich person focuses on solutions instead of problems to become wealthy. You get the best results when you see the positive in every situation.
2. Don’t care what others think
Because they are afraid of being judged by others, most people hold back on their dreams throughout their lives. Many old school friends and family members thought I was crazy when I first started buying real estate and went full-time as a property entrepreneur.
As a young entrepreneur, they asked me why I did not have a “proper job” and warned me about all the risks involved.
When I began making money, I thought that everybody would cheer me on when I became successful. I was still judged and characterized as “money-minded” even after proving my business was successful.
How much more will your enemies judge you if your friends do? My path to becoming a millionaire includes evicting tenants, firing employees, and taking business away from my competition. Sometimes, in business, you have to be tough.
People have called me far worse things than “money minded.” You cannot please everybody all the time and make millions of pounds.
3. What you do is what you love
You need to invest your time and energy into becoming a millionaire; there is no quick route. When I first started investing in real estate, I worked over 100 hours a week and sometimes lost money. I did not feel as if I was working because I loved what I was doing, but I would have been miserable if I had not enjoyed the work.
During my spare time, I would visit properties, negotiate deals, and transform rundown buildings into beautiful homes for people.
This profession can be extremely lucrative, but I enjoyed immersing myself in the industry and learning the ropes. Building an empire with other people’s money was extremely addictive, and I used other people’s money to do it.
You can’t make millions without loving what you do and being addicted to what you do. Picking a career you love is essential. Working then will become a habit, and trying to get rich won’t wear you out.
4. Replace yourself as soon as possible
If you want to scale your business into the millions, you need to find people to run the day-to-day operations of your business. I found the properties, took care of the renovations and managed the tenants myself after I had been an entrepreneur for a couple of years.
I was almost full-time employed just to maintain the six properties I already had. When I began replacing myself with team members, I was able to free up my time. The passive income would have been nice if I had sat back and enjoyed it: I actively grew the business.
Unless you learn to replace yourself, you will never become a millionaire. As a result, everything you do should be systematized and then taught to others. Once you duplicate this process, you’ll make millions.
5. Be grateful
Don’t forget to be grateful for all the good things in your business and personal life. Your life will be filled with more and more good things when you do this. It’s almost magical. You will also be in a much better mood when you are grateful, and you will be much more pleasant to be around.
Many of my competitors used derogatory remarks about their tenants. To joke, they would say that tenants were “allergic” to them. Since their tenants paid for their luxurious lifestyles, this surprised me.
With a grateful attitude toward my tenants, I was able to keep them in my properties for a longer period of time and they paid their rent on time. I began to practice gratitude in all aspects of my business after receiving a small gift at Christmas.
In addition to being happier, my customers and staff were also much more loyal. Successful business owners must cultivate the habit of gratitude.