7 Essentials for Making $1
Million From Scratch
Making a million dollars
is a big dream that many individuals have. The financial freedom that comes
with being a millionaire is enough of a lure for any person, in any profession
to take on this type of challenge. But how do you make a million dollars with
no base to grow off of? The good news is, I have some tips that anyone can use
to help them make $1 million from scratch.
1. Find a mentor who has
done it.
A mentor can be your
greatest ally in your journey towards making a $1 million. If you have someone
looking out for you who has done it before you can gain valuable insight that
can truly make the difference in your success. I did not have a mentor, I was
self taught, but I could see right away how much easier my journey would have
been with a mentor behind me.
2. Know that you don’t
need to be perfect.
You don’t have to be
perfect and you don’t have to do a perfect job every time, but you must be
dedicated. Study hard, learn from your mistakes and never give up. You’re going
to fail, and that is OK, but it’s all about how you react to that failure that
will help you in the long run.
3. Remember that small
gains add up.
You are not going to make
$1 million in one deal, and you aren’t going to make $1 million overnight. Most
of my students and I have made our million dollar goals in small successes,
with $1,000 gains at a time. You don’t need to make $100,000 in a single win to
be on your way to being a millionaire. It doesn’t matter what you start with. My top
student has now turned $1,500 into $2.7 million in 4 years.
4. Use alternative
strategies.
There are so many traders
who lose and investors who fail at the stock market because they aren’t
thinking outside of the box. You must be willing to take alternative approaches
to really find the success that you are looking for. Things like pump and dumps
and short selling may not seem like the most logical step, but they can really make
a difference and help you reach your goals. If you take a look at some of my live trades, you will see how often I take this approach.
5. Don’t expect success
right away.
You are not going to reach
your goal in a matter of days, weeks or even months. Don’t focus on how fast
you can reach your goal, focus on learning and increasing your knowledge base
first. This will help you make a stronger foundation for future success. Remember,
profits come as a result of education.
6. Assume you have to work
harder than everyone else.
So many of us want what
others have, but we don’t get it. This causes so many people to make excuses
for why other people have the financial success that we desire. Stop making
excuses and just accept the fact that you are going to have to work harder than
others to get what you want. It doesn’t matter that you are starting from
scratch or that someone else has family money or walked into some financial success,
in order for you to reach your goals, you are going to have to accept that you
will need to work harder than everyone else.
7. Have the right
motivations in place.
Don’t just work towards
your goals for superficial reasons. Yes having money and notoriety is nice, but
these are all superficial reasons for reaching your goals. Challenge yourself
to be the best you can be and think of the rewards as a secondary benefit.
These tips aren’t the only
thing you need either. In order to make a million dollars from scratch you need
to put in the necessary hard work and dedication too. If you do, you may just
find yourself making your first million faster than you ever thought
possible.
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