There are so many ways to become a millionaire before you hit 30. Farokh Sarmad, 22 is the CEO of Mr. Goodlife. A luxury ad agency with a social media reach of over 100,000,000 million. Peter Voogd, founder of Game Changers Academy surpassed the million dollar mark at 26 years old. Alex Morton made his first million through real estate, health products and motivational speaking before the age of 24! It’s possible. It is 100% possible to make your first million before 30.
So if you dream of becoming a millionaire in your twenties, here are five of the most important things to keep in mind to achieve financial success and living the life you want.
1. Ignore The Traditional Industries.
Lawyer or doctor is not on a path to becoming a millionaire in your twenties. They do create a good backup plan if your business does not reach the success you want, or they can become an extra supplement to your income. But don’t let those be your end goal. Get the degree you desire, but at the same time work to build a million dollar empire.
Why You Must Start A Business While In College
Focus on new industries, such as Internet marketing, Consulting, Startup Technology, Renewable Energy and the list goes on. In today’s social media world, jobs such as Internet marketing do not have an earning ceiling and do not require a lot of training or education. You can easily create your own courses and if marketed effectively you can easily make millions within a few years of product launches.
2. Don’t Focus On The Millions. Focus On The Business.
If your focus is making millions, or how much money you can make from a business, you will never achieve the success you could by focusing on making the best company that you can. Focus on building a million dollar business. If you focus on ONLY making a million dollars you will be burnt out quickly, be duped into bad business deal and you will be unsatisfied. Billionaire Real Estate Mogul Gary Keller says that the most successful people had their success from focusing on ONE thing. Focus on one thing to gain success in your business. For Gary Keller when he was growing Keller Williams, his ONE thing was finding the right Board of Directors to run his business. Now its a multi-billion dollar conglomerate and he doesn’t do a thing! You must also realize that this process will not take a few day or months. It WILL take at least two years before you even turn a huge profit, so make sure to be in this for the long run.
Focus on making the best product and service possible.
3. Keep Educating Yourself.
Study and read as much as possible. If you are tackling a new industry where everyone wants to be king, it’s crucial for you to have an advantage. The best way to do this is simply to read as much as possible.
Readers are leaders. Why do you think in every movie whenever they showcase the wealthy characters home you see book cases. In real life the average millionaire reads 3-4 books per month. When you are always learning, and learning new tangible things you will always have an advantage on your peers. You will know things that those who do not read do not know.
4. Be Willing To Make Sacrifices.
You need to be make HUGE sacrifices to make this much money early in life. You will spend less time hanging out with your friends and family. You will spend less time out and partying. You will have to put a lot of things second and your career first.
Relationships, starting a family and hanging out with friends will need to come second. Work needs to come first if you want to thrive in today’s demanding economy by making superior products and services that will earn millions.
Everyone wants that perfect work/life balance, but you have to accept that there won’t ever be the perfect balance.
5. Focus On What You Love and Fix A Problem.
To fully invest yourself in an industry and make millions, be sure you are focusing on what you love so it doesn’t seem like work and sacrifice to get your business off the ground. Focus not only on the right industry for you but on fixing a problem within that industry.
We are starting this website because not many of the other entrepreneurship lifestyle website actually teach young readers any lessons. We are still perfecting our niche, but we know we are solving a problem.
Make sure to find something that a problem in your life that you know how to fix. From there make perfecting a solution to that problem your ONE focus. After that, immerse your self into the field and learn as much as you can about that field. And realize that during these 2-10 years of working you will have to cutoff or spend less time with friends and family. It’s all apart o the process. And once you come out the other side people will begin asking “How did you do it”
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