7 Millionaire Habits You MUST Learn Now | Habits Of The Rich

Hitting the millionaire mark is a huge milestone for most people especially for someone that started building their wealth from scratch but have you ever wondered what distinguishes self-made millionaires from the average joe the thing is millionaires practice certain habits that place them in a better position to run successful businesses and sustain their wealth so if becoming a self-made millionaire is within your life plan then you need to start doing things differently which is why in this video i will share with you seven habits of self-made millionaires and if you're new to the channel then hit the subscribe button below for more life-changing content habit number one under-promising and over-delivering the first habit of self-made millionaires is under-promising and over-delivering you've probably heard that one of the greatest components of success is performing beyond the set expectations the surest way to do this is to underestimate your abilities in front of other people although there's conflicting opinion on whether the strategy works or not it's a habit that most self-made millionaires swear by you see when you promise someone something they tend to expect nothing less than what you pledge if you want to impress the person it's advisable to guarantee slightly below your potential particularly when it comes to business under promising and over delivering is a surefire way of wooing customers and it can take different forms assuming you promise a customer that you'll deliver their package within six working days and you dispatch it within three working days you'll have automatically built an excellent reputation for your brand in your customers eyes as a result they will likely come back in the future and even advertise your business to their friends since brand building is one of the ingredients of becoming a market leader self-made millionaires are known to use over-delivering as a success strategy even in the workplace over-delivering is a sure-fire way of gaining the trust of your mentors and reinforcing your credibility whenever you have a task at hand always leave some wiggle room for exceeding your supervisor's expectations it can mean handing in an assignment three days earlier than you had promised or surpassing the numbers of sales that your team had forecasted under promising and over-delivering is a tactic that has gotten many self-made millionaires where they are now and you should probably start applying it too habit number two being proactive another habit of self-made millionaires is that they are proactive the thing is many people have big dreams throughout their lifetime the only problem is that out of all these people only a handful realize that you can't dream your way to a better life you have to take action the few individuals who are brave enough to take the driver's seat and act on their goals are the ones that make it in the end and these are the proactive individuals simply put being proactive means taking charge of situations within your control and deriving your desired outcomes a dynamic nature pans out as being in a position of power and agility both of which are critical to success proactive individuals act fast when they spot opportunities and they don't allow unfavorable circumstances to rule out their chances of winning unlike their reactive counterparts who wait for other people to take action for them to react proactive individuals don't know how to hold themselves back maybe this is why it's a habit of self-made millionaires to hold this close to their hearts instead of taking the back seat and waiting for things to play out millionaires prefer getting their hands dirty with business investment and careers self-made millionaires have the habit of taking the wheel they go into details of their projects without being asked to and even once they own their businesses they don't wait for miracles to happen in the corporate world these are the individuals who ask for raises and promotions instead of waiting for their boss to hand it over to them actually you'll find its proactive mindset tends to spill into their personal lives they are probably the advisors in their friendship circles since they tend to have sharp problem solving skills too so if you want to bootstrap your way to the top adopt a proactive mindset and stop waiting for miracles habit number three holding yourself accountable the third self-made millionaire habit is holding yourself accountable self-made millionaires value accountability and it's next to impossible to find them giving excuses for their mistakes or shifting blame when they make a wrong move they take responsibility for their actions whether the results are desirable or not you see the problem with most people is that they desire to own something big but are unwilling to take responsibility when things turn ugly when you hold yourself accountable as a leader you spend less time on activities that will act as obstacles towards your goals and more effort to block the little nudges that could impede your progress if you're familiar with maritime tradition you've probably heard that the captain always goes down with the ship when it happens it won't matter what role the cabin crew or anyone else played to sync it being the captain you either ensure everyone disembarks safely or you die trying although a bit extreme this is the same sense of accountability that self-made millionaires have once you acknowledge that you have no one other than yourself to blame at the end of the day you will do everything in your power to achieve your goals it could be a business a one-time project or even a lifelong career being accountable to yourself will birth a sense of seriousness that will reflect on how you handle business and this doesn't necessarily mean that you won't fail along the way you will but your degree of accountability will shed some light on whether or not you are right for success it doesn't matter whether you weren't born rich or whether your employees keep coming late to work you are responsible for your life and your wealth habit number four delaying gratification another common habit of self-made millionaires is delaying gratification building wealth consistently calls for deep sacrifice and it's not a journey for the faint-hearted for self-made millionaires it's a journey that begins at a point of financial deprivation hence instant gratification is often not a choice self-made millionaires are masters of delaying gratification and even despite their ballooning net worth it's a habit they can't shake off quickly you'll find them opting to live frugal lifestyles and even drive around and use cars that you and i can afford you'll also find them waking up early and sacrificing extra hours of sleep to chase their dreams they do this because they believe in the long-term rewards of delaying gratification instead of buying a brand new car for example a self-made millionaire would instead invest that money in the stock market and enjoy the bountiful financial rewards years later similarly you need to adopt this delayed gratification mindset if you want to achieve financial freedom you'd rather deny yourself that iphone today and be able to afford 10 iphones in the next few years then buy it now and hurt your chances of growing your money another benefit of delaying gratification is that it will help you snap out of impulse buying learning how to postpone gratification will ensure that you stick to your shopping list and save more money so the next time you feel compelled to splurge on unnecessary things think about the kind of financial future you want then throw that money in your savings jar instead habit number five self-motivating moving on another habit of self-made millionaires is that they are self-motivating this quality implies that they possess inwardly generated drive and ambition that motivates them to work hard and pushes themselves to achieve great things self-made billionaires are their own cheerleaders and just like them it's a habit you need to start practicing if you look into the success stories of most wealthy people you'll discover that some encounter painful rejections along their journeys some had brilliant job opportunities slipped by them and some had their dreams belittled by people close to them nevertheless they pressed on and eventually launched their successful ventures because they had a strong force driving them this force is what we refer to as self-motivation and it can take different forms it could be fear of poverty philanthropy the desire to provide solutions to problems or even the pursuit of a better quality of life just find something that makes you jump out of bed every morning even when you would instead go back to sleep find whatever makes your dreams worth pursuing and chase it vividly it is essential to acknowledge that self-motivation will keep your enthusiasm burning even amidst challenges it's not easy to start from the bottom and amass significant wealth if you are not your own cheerleader so start motivating yourself now habit number six seeing failure as a part of success one of the most notable differences between successful people and failures is their perspective how you perceive outcomes such as a defeat can have a significant bearing on whether you make it in life seeing failure as the end of the road is a bad trade often associated with ordinary people which is why self-made millionaires choose to see failure as part of success successful people learn from their mistakes and every time they fall they always bounce back with renewed zeal similarly you should not give up if things don't go the way you plan it's okay to make mistakes and it's okay to fail sometimes what's not okay is letting failure overshadow your ability to dream big and achieve your goals if you expect to become wealthy be ready to experience all kinds of failures from losing big deals making wrong investment moves to going bankrupt all these are possibilities in the business world but once you learn how to handle failure like a boss you'll have an easy time transforming it into something bigger failure is an excellent opportunity to re-evaluate your strategies and do things differently after all it's only a fool that does the same thing repeatedly expecting different results life is not a fairy tale so if your company is continuously underperforming there's a high chance you are doing something wrong having such a mentality when dealing with failure is why self-made millionaires make it in life if you pick up this habit and start seeing failure as a stepping stone to greater opportunities you'll be one step closer to achieving success habit number seven committing a hundred percent what stops most people from achieving the millionaire status is that they give up too quickly see the journey to financial freedom is challenging with so many obstacles along the way most people often give up halfway or end up distracted by other life commitments it's only a few people who commit 100 to achieve their financial goals and pushing forward even when things get tough self-made millionaires are part of this group now don't get me wrong committing is difficult it requires a heightened level of discipline and determination that only a fraction of individuals have which is why only a fraction of the world's population becomes successful so with that said what does it mean to commit a hundred percent rather how can you fix your eyes on the prize without losing sight along the way well it's possible start by writing down your goals clearly and then set up individual strategies that will help achieve each of the outline objectives if you want to become a self-made millionaire for instance you need to draw a clear map that will get you there whether through entrepreneurship or a smart investment pick the means you will use to get rich and stick to it until the end don't forget that the grass is always greener on the other side and it may be tempting to jump from one goal to the other don't do it commit to watering your grass and you'll see it transform into the greenest grass you've ever seen there you have it seven habits of self-made millionaires thanks for watching if you want to go from the life you have to the life you deserve then hit the subscribe button now

Channel: Betterment Boss

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Keywords: habits of the rich, rich person habits, how to live like the rich on a budget, successful habits of millionaires, habits of the successful, what are the habits of a successful person, success habits of billionaires, spending habits of rich and poor, rich people habits vs poor ones, things that poor people do that the rich dont, habits of the rich and successful, money making habits, habits that will make you successful, dan lok, dan lok habits of rich, betterment boss

Id: hV2C_xahhLE

Length: 11min 6sec (666 seconds)

Published: Wed Apr 28 2021