I know you want it. Actually, many of us do. Being a millionaire would be great, but any successful entrepreneur would tell you, there are certain skills you’ll need in order to get there. Entrepreneur.com writer and millionaire, Daniel Ally shares his insight on what 12 must have abilities that are necessary for 7 figure success: 1. Communication Millionaires send out thousands of emails every year. Every email builds your brand. They are also specialists on the phone and meeting face to face. The more effectively you can share your message with the world, the more likely people will want to work with you. The level of your communication will determine the level of your wealth. 2. Sales In this world, you're either selling or being sold. Either way, you have to choose a side. If you seek to understand sales, which is the highest-paying profession, you will become a millionaire. Those who know how to sell know that it dramatically enhances the life of everyone. After all, everything around you has been sold. 3. Marketing and Branding
Your reputation is your best advertisem*nt.
Promoting yourself with marketing and branding your company is the cornerstone to any empire. Telling the world what you do in the clearest way possible will allow you to be known in the marketplace and will expand your business in unprecedented ways. Every millionaire has a good brand.
4. Emotional Intelligence
If you can take care of yourself, you can take care of thousands of people. Knowing human nature is the key to success.
Millionaires understand motivation, body language, tone of voice, tact, diplomacy, empathy, and everything related to emotional intelligence. Most of this can be learned by simply paying attention to the people around you. Remember what Theodore Roosevelt said: "People don't care about what you know unless they know how much you care."
5. Product and Service Innovation
Every millionaire must put a creative spin on the product and service that he offers.
Ray Kroc, the founder of McDonald's, did not invent the hamburger, but he did excel at pioneering core values which helped him catapult the fast-food industry.
Innovation will make you immensely wealthy, even if you deliver a product slightly better than your competitors.
6. Organizing
Every millionaire has a system that works for her. They're well-organized and flexible enough to adapt to their changing environments. Almost every business decision you will ever make will come from your desk. If you're organized and know how to locate information in the fastest way possible, you will have the skills to become a millionaire.
7. Goal-Setting and Planning
Plan your work and work your plan. This is the motto of all millionaires. No one can succeed without a well-defined plan. You must set your goals on a daily basis and plan your years, months, weeks, and days well in advance. Follow the 5 P's: Proper Planning Prevents Poor Performance.
Opportunities only come to those who are prepared.
8. Money Management
You can only be responsible over a large amount of money ($1,000,000) if you can take care of a small amount ($10). Millionaires know their bank balances at all times. They record their expenditures.
They count their income. They do their own taxes (with a lot of help!). They know their financial standing. You can only obtain wealth if you understand your money.
9. Philanthropy
Millionaires understand that the secret of living is giving. Many wealthy people give relentlessly. You can only be wealthy by enhancing the wealth of others. However, when it comes to charity, they don't just drop a check in the pile like most people do. Instead, they actually participate by knowing exactly where the money is going.
10. Networking
Building relationships is instrumental in the world of business. You must be a reliable source in order to attract reliable sources.
In my network, I have every conceivable skill available. It's only a phone call or email away. The only way you can get big things done is by employing those who can do the things that you cannot (or don't want to) do. The people you're looking for are also looking for you.
11. Leadership
Every millionaire is a leader. They understand that they must follow great leaders as they become one themselves.
They know when to take responsibility and initiative when tough situations occur.
When testing time comes, they pass the test and assure others in a positive way that they are in good hands. A mark of a true leader inspires others that they can do the unimaginable.
12. Time Management
Prioritizing is focusing first on what needs to be done most. Millionaires don't go mowing the lawn when they know they need to do business. Since managing your time is more about managing your energy, you must seek ways to conserve your body and mind to focus on the projects that deserve your utmost attention.
Honourable Mentions: Perseverance, Innovation, Coaching and Mentoring, Customer Service, Public Speaking, Storytelling, Traveling, Team Building, Negotiation, Etiquette, Conflict Resolution, Stress Management, Advanced Learning, etc.
Becoming a millionaire is easier than ever before. You have more avenues of expression to create a generous amount of money. There are over 15 million millionaires in the world today. If you are serious about becoming a millionaire, learn these potent skills and develop the faculties to possess the wealth you desire.
And remember, the journey of wealth is more important than the destination!
Daniel, thank you for the suggestions.
As you can tell, to be a millionaire, you’ll need to do a lot of personal development.
Yes, it may be easier to be a millionaire on paper nowadays, but ultimately it comes down to how hard you’re willing to improve yourself.
Are you ready to raise your game by acquiring the above skills?
If so and you actually do it then becoming a millionaire might be a lot closer than you think.
To your success,
Michael
