Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,702 members, 7,813,321 topics. Date: Tuesday, 30 April 2024 at 10:46 AM

5 Essentials To Becoming A Millionaire Before You're 30 - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / 5 Essentials To Becoming A Millionaire Before You're 30 (1260 Views)

9 Things To Do In Your 20s That Will Make You A Millionaire Before You Hit 30 / 6 Things You Need To Do Now If You Want To Be A Millionaire Before 40 / "Binary Option Trading (become A Millionaire In A Year)" (2) (3) (4)

(1) (Reply) (Go Down)

5 Essentials To Becoming A Millionaire Before You're 30 by Truth234(m): 5:30pm On Dec 31, 2015
There are so many people today who think that their twenties are a time where they must struggle financially. However, this doesn’t have to be true. There are in fact ways to become a millionaire before you hit 30. 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 beyond what you may have never dreamed possible.

1. Ignore traditional industries.
Lawyer or doctor is not on a path to becoming a millionaire in your twenties. Those professions require many extra years of schooling, which costs a lot of money. You will likely be repaying your student loan debt well into your thirties, or even later. Plus, individuals with these jobs often have a very real earning ceiling that is difficult to break through. You may never reach millionaire status.

Focus on new industries, such as Internet marketing. In today’s social media-centric world, jobs such as Internet marketing do not have an earning ceiling and don’t require a lot of training or education. Consider the balance between cost of education and earning potential.

2. Don’t focus on making millions.
If your focus is making millions, or how much money you can make from a venture, you will never achieve as much success as you could by focusing on making the best company that you can. Plus, if you put that quality product or service out into the public and eventually earn millions, you will start to feel very proud of yourself for the product you made, the work you did and the reward you received for this type of hard work.

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 already 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.

I have a number of millionaire students invested in my program. None of us (myself included) are particularly gifted at math. We are not the smartest people on the planet. However, we do work our butts off. We read, we educate ourselves and we work around the clock to be the best versions of ourselves that we can be.

Forget, 9-5 jobs, we are all about the 15-18 hour days. Every day.

4. Be willing to make sacrifices.
You need to be make sacrifices to make this much money this early in life. You need to spend less time hanging out with your friends and family. You also need to put a lot of things second and your career first.

Relationships, starting a family and hanging out with friends, 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 it won’t ever be the perfect balance if you want to be in the top tax bracket at the end of the year.

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, so you know it has value to your consumer base.

Don’t allow a lack of technical skills to hold you back. You can always find technical skill. What you can’t just “find” is true passion or heart. Regardless of what niche you choose, make sure you are in love with it first. You would be surprised by how far true passion can take you. It just may be able to take you to that million dollar status you have been dreaming of.

http://www.entrepreneur.com/article/254258

7 Likes 3 Shares

Re: 5 Essentials To Becoming A Millionaire Before You're 30 by fasho01(m): 5:50pm On Dec 31, 2015
Great writeup. Nice one op

1 Like

Re: 5 Essentials To Becoming A Millionaire Before You're 30 by Nobody: 5:55pm On Dec 31, 2015
This is the best thread in the business section. It's not like all these other scam, spam and nonsense threads.

1 Like

Re: 5 Essentials To Becoming A Millionaire Before You're 30 by Donpressman(m): 6:50pm On Dec 31, 2015
Great stuff

1 Like

Re: 5 Essentials To Becoming A Millionaire Before You're 30 by Truth234(m): 7:19pm On Dec 31, 2015
aim5:
This is the best thread in the business section. It's not like all these other scam, spam and nonsense threads.
Re: 5 Essentials To Becoming A Millionaire Before You're 30 by yahyamay(m): 8:51pm On Dec 31, 2015
cool
Re: 5 Essentials To Becoming A Millionaire Before You're 30 by AirstarKane(f): 2:37am On Jan 01, 2016
5. Focus on what you love and fix a problem.[/b]
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, so you know it has value to your consumer base.

Don’t allow a lack of technical skills to hold you back. You can always find technical skill. What you can’t just “find” is true passion or heart. Regardless of what niche you choose, make sure you are in love with it first. You would be surprised by how far true passion can take you. It just may be able to take you to that million dollar status you have been dreaming of.[/quote]
Thanks op this is one of my best thread. Please op I will appreciate it you can reply me. What about someone who has variety of passion and idea but can pin it down on a certain industry how do you go about it. I am energetic when it comes to working but don't really know what I am passionate about. Different ideas easily comes to my head but achieving it is a p. I will be grateful to get a reply.
Re: 5 Essentials To Becoming A Millionaire Before You're 30 by AirstarKane(f): 9:30am On Jan 01, 2016
Truth234:
There are so many people today who think that their twenties are a time where they must struggle financially. However, this doesn’t have to be true. There are in fact ways to become a millionaire before you hit 30. 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 beyond what you may have never dreamed possible.

1. Ignore traditional industries.
Lawyer or doctor is not on a path to becoming a millionaire in your twenties. Those professions require many extra years of schooling, which costs a lot of money. You will likely be repaying your student loan debt well into your thirties, or even later. Plus, individuals with these jobs often have a very real earning ceiling that is difficult to break through. You may never reach millionaire status.

Focus on new industries, such as Internet marketing. In today’s social media-centric world, jobs such as Internet marketing do not have an earning ceiling and don’t require a lot of training or education. Consider the balance between cost of education and earning potential.

2. Don’t focus on making millions.
If your focus is making millions, or how much money you can make from a venture, you will never achieve as much success as you could by focusing on making the best company that you can. Plus, if you put that quality product or service out into the public and eventually earn millions, you will start to feel very proud of yourself for the product you made, the work you did and the reward you received for this type of hard work.

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 already 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.

I have a number of millionaire students invested in my program. None of us (myself included) are particularly gifted at math. We are not the smartest people on the planet. However, we do work our butts off. We read, we educate ourselves and we work around the clock to be the best versions of ourselves that we can be.

Forget, 9-5 jobs, we are all about the 15-18 hour days. Every day.

4. Be willing to make sacrifices.
You need to be make sacrifices to make this much money this early in life. You need to spend less time hanging out with your friends and family. You also need to put a lot of things second and your career first.

Relationships, starting a family and hanging out with friends, 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 it won’t ever be the perfect balance if you want to be in the top tax bracket at the end of the year.

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, so you know it has value to your consumer base.

Don’t allow a lack of technical skills to hold you back. You can always find technical skill. What you can’t just “find” is true passion or heart. Regardless of what niche you choose, make sure you are in love with it first. You would be surprised by how far true passion can take you. It just may be able to take you to that million dollar status you have been dreaming of.
Thanks op this is one of my best thread. Please op I will appreciate it you can reply me. What about someone who has variety of passion and idea but can pin it down on a certain industry how do you go about it. I am energetic when it comes to working but don't really know what I am passionate about. Different ideas easily comes to my head but achieving it is a p. I will be grateful to get a reply
Re: 5 Essentials To Becoming A Millionaire Before You're 30 by Truth234(m): 11:31am On Jan 01, 2016
AirstarKane:

Thanks op this is one of my best thread. Please op I will appreciate it you can reply me. What about someone who has variety of passion and idea but can pin it down on a certain industry how do you go about it. I am energetic when it comes to working but don't really know what I am passionate about. Different ideas easily comes to my head but achieving it is a p. I will be grateful to get a reply

It's a good thing you are energetic and passionate about varieties of things but the truth is it is hard to get it all started at once. You need to focus on one particular idea and put all your weight behind it.

In identifying your passion, ask yourself this question, what is it you are passionate about that without been paid you can do for free, and be sure your answer correspond with you core values, moral and personal conviction.

Once you are convinced you found it. Don’t wait until you have everything figure out before you get started, early this week I read how MissTechy, a Finance graduate got started with her blog even with a full-time job.

In her words “Before I started, I kinda believed that It wouldn’t be soooo difficult, boy was I wrong! Due to the nature of my Job, I mostly had time for Misstechy in the wee hours of the morning, usually before 8 am.” Today her blog is ranked 102,763 globally and 670 in Nigeria.

You can read more on her thread https://www.nairaland.com/2814800/2015-retrospect-how-balanced-blogging

You don't even need to be successful at everything to be a success, just one particular idea you are passionate about will open that door. Folorunsho Alakija started as a fashion designer, Mike Adenuga was a taxi driver and now they own businesses in almost every sector both in Nigeria and abroad.

2 Likes 1 Share

Re: 5 Essentials To Becoming A Millionaire Before You're 30 by obiaguna(m): 12:59am On Jan 02, 2016
Had this same convo with a friend some minutes ago. We are quite young and we realized we needed to put more work into owning successful businesses by the time we clock 30. Op has dropped the gauntlet and we would carry on from there. Thanks Op. Can I pm you?
Re: 5 Essentials To Becoming A Millionaire Before You're 30 by Nobody: 4:14am On Jan 02, 2016
OP, thanks for sharing. But be kind enough to link back to the source. Do not plagiarize.
http://www.entrepreneur.com/article/254258

(1) (Reply)

I Want To Venture Into Kilishi Production. Pls Advice And Offer Me Useful Tips / GT Bank Incessant Debit Bank Charges On My Account / Honey

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 36
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.