The 10 Laws Every Millionaire Must Follow
You must follow the laws if you want to be a millionaire.
Many people from all over the world ask me for general advice on how to become a millionaire. They come from all backgrounds, ages, religions, and skin colors. In general, they see money as the means to obtain the resources to reach their highest aspirations.
However, most people don’t want to earn a million dollars. Instead, they want to spend a million dollars. They think that mere money will make them happy; failing to understand that it’s the journey of becoming a millionaire that gives them real joy and satisfaction.
One of the biggest questions that I get from most people is, “Do you have any advice for me as I begin my journey to become a millionaire?” I do, and following these 10 laws of wealth will help you to navigate through the oceans of success and make you a millionaire:
1. Don't Work For Money: If you only work for money, money won't work for you. Instead, you should be working on building your skills. Earning money is a byproduct of building your skills. The more skilled you become in your profession, the further you can climb up the economic ladder (assuming you're in a profession with unlimited income growth).
Those who work for money will become slaves to money. Those who work to build their skills will master money, especially since handling money is also a skill. If you focus on developing the skills, you will be able to pay the bills. Conversely, if you're focused on paying the bills, you won't have time to acquire the skills. Thus, skills over bills. That's the priority. Millionaires are highly skilled.
I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times. - Bruce Lee
2. Be a Student: My definition of education is ‘knowing what to do with what you have.’ There are many people who have amassed a wide range of knowledge, but do very little with their knowledge because they lack true education. Being a student is a law of wealth you cannot forfeit, unless you want to remain as ignorant as the masses.
Every day, you should be filling your notebooks with what you’ve learned. On a weekly basis, I have dozens of pages with notes. At the end of each week, I study and review my notes while asking myself, "What did I learn this week?" I have given well over 1,200 speeches and I am often surprised to find that only 3% of all the people I reach take the time to jot down some notes.
3. Focus on the 3%: There are only 3% of the people in the world who absolutely need what you offer. By focusing on the 3%, you will become incredibly rich. Let's break down the 3%: If you are reaching 100 people, 70 people may be interested; 30 will ask questions; 10 will engage deeper, but only 3% will fall in love with you. Those are your real fans. Your duty is to serve them best.
Think of all the people who really love you for who you are. There's more than you think. The 3% will follow you for the rest of your life. Not only will these people drop all engagements to attend your funeral, but they will advocate your brand to everyone they know. As you continue on your path to adding more value to more people in less time, your 3% will grow to stupendous proportions.
4. Feast on Feedback: Whether you're getting feedback from the 3% (your true fans) or the vast majority (97%), you must heed their lessons. Many times, you can only grow your results by feasting on the feedback you obtain. You must use your feedback as you test, refine, and deliver a masterful product or service. This quest for perfection is what makes millionaires who they are.
Most people accept shoddiness. They send out unedited emails, walk with untied shoes, and forget their kindness. Leaving things undone is the worst way to conduct your business. However, you can reconfigure your entire brand if you feast on your feedback, even if it's from your haters. You must tie up all loose ends and focus on how you can continue to strive for excellence in any undertaking.
Applying feedback is the spinal cord to achievement. - Daniel Ally
5. Step Into Your Comfort Zone: Failure is highly uncomfortable, but so many people tolerate it. They settle for the house they don't want to live in, the cars they don't want to drive, and they salary that they can't enjoy. Instead, seek success: It's easy, fun, and extremely comfortable. Overcome all your fears and go for your dream. What you want, wants you even more!
Everything that I do is comfortable, however it all started when I began inspiring souls for free. The only way you can step into your comfort zone and do what you love is by doing it for FREE. Yes, stop working for money, start building your skills, and do what you love--even if no one pays you to do it. Soon enough, you'll find a way to get paid for what you do. That's how you enjoy your life.
If you do more than you are paid to do, you'll get paid for more of what you do. -Daniel Ally
6. Be Everywhere: In the new millennium, we've been introduce to the internet. More specifically, we have social media platforms that allow us to be everywhere, including other peoples' pockets (i.e. Smart Phones). However, you must build your following across all platforms by mastering your content. As you begin, you want to start with a general and massive appeal, then get specific as you refine your niche (not the other way around).
By spending a minimum of 2 hours per day on social media, the average person can grasp the attention of thousands of people within a matter of weeks. If you want to become a millionaire, you must find a way to reach millions people. Besides television and radio, social media is the only way to advance your message into the hearts and minds of those you'd like to reach.
7. Never Delay Success: How many times have you heard people say that they will wait for tax season? Kid's graduation? New promotions? There are so many excuses that people will make, just because they cannot overcome the fear of success. They know that their dreams are calling their names, but they allow minor distractions to get in their way, infiltrating their plans in the process.
However, success cannot afford to be disrupted. You must seize success TODAY. You cannot wait for next week, next month, or next year. Success cannot wait. The millionaire knows what they want and will do anything to get it, despite their circumstances. Remove all obstacles and excuses and do whatever it takes to overcome your deepest fears. Your success must happen now.
8. Fix Your Intentions: Those with the right intentions will become a millionaire. As mentioned earlier, fixing your intentions on 'making money' for the sake of making money will prohibit your success. In fact, this mindset will often blind people to other opportunities. If your intentions are wrong, it will keep you from the success that you want.
Almost everyone is sniffing out your intentions. They want to know what you're about and what you want from them. This natural mechanism protects them from harm, keeping them safe. When networking, you must share your intentions and ensure the 'give and take' relationship is mutual. Furthermore, sharing your intentions clarifies your message, leaving no room for confusion, which allows others to lend you a helping hand.
If you can't explain it simply, you don't understand it well enough.
- Albert Einstein
9. Practice Originality: Many people feel intimidated by a certain industry because of the competition. They know that the field is saturated by experts; so many people never really give it a real 'try'. However, if you take a closer look at the saturated markets, you'll find that the majority of them are actually duplicates, often mimicking the dominating leader in the industry.
Before I started my business, I slightly doubted that I could ever make it. After all, there were so many people doing what it did. These thoughts affected my performances, stymieing my gifts in the process. Eventually, I realized my originality and my entire game changed. Remember that no one has your exact composition and genetic make-up. No one can do what you do. Never compare yourself with someone else.
10. Make it Easy for Others: To become a millionaire, you must make it very easy for others. Instead of complicating your message, you must break it down in ways that people understand. Oftentimes, if a person is confused by your convoluted message, they will back out and avoid doing business with you. Remember, the confused mind always says “No.”
When I write my articles, I want 8th graders to understand. I also want to reach millions of people who don’t normally read my type of articles. A few months ago, a woman who only reads Yahoo articles came across my work and couldn't stop reading. Within a few days, she devoured over 100 of my articles, and then quit her job over the weekend. She now runs her own full-time business. This is what happens when you make it easy for others.
When you consistently apply these laws, you will receive results in your life. No one can take the success that has been purposed for you. However, you must believe in yourself and take the necessary risks to step into your purpose. If you believe in yourself, you’ll find that everyone else will believe in you! Becoming a millionaire will be easy when you follow these simple laws of wealth.