10 Rules of a Millionaire: Where to Start, What to Avoid

If you want to become a millionaire, you must follow certain commandments, says Daniel Alley, a businessman, millionaire and participant in the Entrepreneur magazine Young Millionaires project. And he tells you which ones. People from all over the world ask me for advice on how to become a millionaire. These are people with different experiences, different ages, religious beliefs and skin colors. They see money as a resource that will help them achieve their main goals. However, most people do not want to earn a million dollars. They want to spend a million dollars. They think that money itself will make them happier, and they do not understand that real joy and satisfaction comes from the journey itself, the movement towards becoming a millionaire. 10 Rules of a Millionaire I am very often asked: Yes! If you follow these 10 laws, they will lead you on the right path. 1. Don't work for money If you work only for money, money will not work for you. It is more correct to work on developing your skills. Making money is just a by-product of developing these skills. The more skilled you are, the higher you can climb the economic ladder (unless, of course, your profession has a very low ceiling). Those who work for money become slaves to money. Those who work to develop their skills will learn to control money, because handling money is a skill. If you focus on developing your skills, you will be able to pay the bills. And if you focus only on paying the bills, you will not have time to learn skills. Skills are the first thing. “I do not fear the man who has practiced ten thousand kicks, but the man who has practiced one kick ten thousand times,” said Bruce Lee. 2. Stay a student In my opinion, an educated person is one who knows how to use what he has. There are many people who have accumulated a wealth of knowledge, but cannot do anything with it, because they lack education in this sense. Every day, fill your notebook or journal with what you have learned. I take dozens of pages of notes every week. At the end of the week, I look at them and ask myself: I’ve spoken at about 1,200 conferences and I’ve noticed that only 3 percent of people bother to take notes. 3. Focus on the 3% There are only 3 percent of people in the world who actually want what you have to offer. If you focus on that 3 percent, you can become a truly rich person. Here’s the breakdown: If you speak to 100 people, 70 of them might be interested, 30 will ask questions, 10 will want more, but only 3% will actually fall in love with you. These are your true fans. It’s your job to serve them in the best way possible. Think of all the people who love you for who you are. There are more of them than you think. The 3% will follow you for life. They will promote your brand and tell everyone they know about it. And over time, those 3% will grow to incredible proportions. 4. Soak Up Feedback It doesn’t matter who’s giving you feedback — the 3 percent (your true fans) or the other 97%. Listen to these lessons. Often, the only way to grow and improve your results is by soaking up all the feedback. Use it to test and refine your product. It’s this pursuit of perfection that makes people millionaires. Most people are okay with sloppy work. They send emails without editing them properly, walk around with their shoes untied, and forget about being kind. Not finishing is the worst way to do business. But if you start really soaking up feedback — even from your haters — you can completely rebuild your brand. 5. Get Into Your Comfort Zone Failure is an extremely uncomfortable thing, but many people are very tolerant of it. They agree to live in a house they don’t really want to live in, they buy cars they don’t enjoy driving, they accept a salary they don’t really enjoy. It’s better to strive for success: it’s easy, it’s enjoyable, and it’s extremely comfortable. Everything I do is quite comfortable. But it started when I started inspiring people for free. This is the only way to step into your comfort zone and do what you love – to do something for free. Stop working for money, start developing your skills, and do what you love – even if no one pays you for it. Soon enough, you will find a way to make money from it. And that’s the only way to enjoy life. 6. Be Everywhere In the new millennium, we have the Internet. More precisely, social networks that allow us to be everywhere, including in other people’s pockets (I mean smartphones). But you must learn to attract fans on all these platforms by managing your content correctly. You can start with something more general and massive, but then you need to find and define your niche and be as specific as possible. By spending two hours a day on social media, the average person can reach thousands of people in a matter of weeks. If you want to be a millionaire, you have to find a way to reach millions of people. Today, social media is the fastest way to get your message out there. 7. Don’t Delay Success We hear people say all the time: I’ll wait until I pay my taxes. I’ll wait until my kids finish school. I’ll wait until I get a promotion. There are a ton of excuses like that, and it’s all because people can’t get over their fear of success. They allow themselves to be distracted and their plans to be ruined. And success doesn’t tolerate distractions. You have to grab onto success today. Don’t wait for next week, next month, next year. Success can’t wait. A millionaire knows what he wants and will do whatever it takes to get it, no matter what. Remove the obstacles and excuses and do what you have to do to overcome your deepest fears. 8. Adjust your intentions Millionaires are people who have the right intentions. As I said before, focusing on making money for the sake of making money is a recipe for disaster. This mindset often blinds people to other possibilities. If you are focused on the wrong thing, it will prevent you from achieving the success you desire. And other people pay attention to your intentions. They want to know what you are striving for and what you want from them. This natural mechanism protects them from trouble, helps them feel safe. When you connect with people, share your intentions and build relationships based on the principle of reciprocity. Sharing your goals clarifies what you want to say, and thanks to this, people can lend you a helping hand. “If you can’t explain something in simple terms, you don’t understand it well enough,” said Einstein. 9. Practice originality Many people are intimidated by competition. They know that there are plenty of experts in their field, and so they don’t try hard enough. But if you look closely at these markets where there are so many experts, you will see that most of them are just duplicates, often just copying the industry leader. Before I started my business, I was a little skeptical that I would succeed. After all, so many people were already doing the same thing as me! These thoughts affected my work and blocked my talents. Eventually, I realized what my originality was, and everything changed. Remember, no one is exactly like you. No one can do everything that you can. So do not compare yourself to others. 10. Make Life Easier for Others To become a millionaire, you need to make life as easy as possible for other people. Do not complicate what you want to convey to them - state it in a way that people can easily understand. Often, if a person does not understand something, he simply will not do business with you. When I write my articles, I want them to be understood by eighth-graders. I also want to reach millions of people who don’t usually read these articles. A few months ago, a woman who usually only reads Yahoo News found my writing and couldn’t stop reading. Within days, she had read over a hundred of my tips and then quit her job. Today, she has her own business. This is what happens when you make people’s lives easier. If you apply these rules consistently, you will get results. But you have to believe in yourself — and take the necessary risks.

It's embarrassing when you see 0.00 on your balance

thanks Cosmic for the link =

The 10,000 Hour Myth: How Much Effort Does It Take to Achieve Perfection

In recent years, one of the most persistent stereotypes in psychology has been the myth of the “10,000-hour rule,” according to which this is how much time one needs to invest in an activity to achieve significant success. T&P publishes a summary of an article on Brain Pickings that debunks this stereotype and offers a more complex and effective scheme for moving toward excellence.
The “10,000-hour rule,” which is supposed to make anyone extremely successful in any field, has become something of a holy grail, repeated over and over on websites and tutorials. The trouble with this rule is that it’s only half true. If you’re a newbie golfer who keeps making the same mistake, 10,000 hours of practice won’t improve your skill level. You’ll still be a sucker, just a more experienced one.

Mechanical repetition of actions will not bring professional growth, but you can get closer to the goal if you adjust the execution of some task over and over again. The secret to continuous improvement is not in the amount of time invested in the matter, but in its quality. It sounds simple and obvious enough, but we still often expect success based only on the amount of time we invest in solving a particular task.

The key to success is deliberate practice—continuous learning that you focus on entirely, guided by a qualified expert, coach, or mentor. This approach is fundamentally different from measuring success solely by the number of hours spent learning.

Feedback is a necessary element that allows us to identify our mistakes, discover their sources and correct them. This is how a mirror helps ballerinas in their training. Ideally, feedback should come from an expert in your field - if you do not have such feedback, you are unlikely to succeed. It is also important to think realistically. Daydreaming has its creative benefits, but in the context of deliberate practice it only dilutes the effectiveness of the process.

“It is believed that for world-class champions – whether weightlifters or pianists – practice should be about four hours a day.”

Once you get used to something that was once new to you, you start doing it well automatically. Here you risk becoming a hostage to the "okay plateau", having stopped growing and getting stuck at some level of development. If you are going to achieve genius success, it is time to move from autopilot back to the active attention phase.

Amateurs are often content with fifty hours of practice – whether skiing or driving – and they reach the stage of “good enough,” having achieved a level of performance where they can perform the required actions with ease. They no longer feel the need for concentrated practice and are content to repeat what they have already learned. In this case, no matter how much more they practice, their progress will be insignificant.

True experts, on the other hand, stay focused, deliberately resisting the brain's desire to automate processes. They actively focus on what they do imperfectly, correct what doesn't work, and never stop learning. If they start coasting and stop their "smart practices," they immediately hit a plateau where their skills no longer improve.

But even if the quality issue is resolved, the quantity issue still remains. How much deliberate practice is enough to achieve excellence? It is believed that world-class champions, whether weightlifters or pianists, should practice for about four hours a day. This allows for both sufficient time to perfect their skills and sufficient time to rest and replenish physical and mental energy. Optimal practice supports optimal concentration.