It’s natural that we are always looking for ways to create better financial situations for ourselves. ‘How can I achieve more financial success?’ may have crossed your mind. ‘How can I become rich?’ may be another question you’ve asked.
It’s one thing to become rich but it’s another thing to sustain a certain amount of money. Let’s look at those who built their own wealth as opposed to inheriting it.
Lesson 1: Take Responsibility For Your Life
“I don’t think of myself as a poor, deprived ghetto girl who made good. I think of myself as somebody who from an early age knew I was responsible for myself, and I had to make good.”
Oprah did not grow up in the best circumstances and she didn’t let her past determine her future. In the above quote you can also tell she doesn’t play the victim. Turn on the television and you may see a sob story being told alongside someone who is trying to win a competition. We have to be responsible for our lives and not continuously look back because it can leave us blindsided to where we really should be going. So never feel as if you won’t be rich because it’s not been done before by anyone you know, anything is possible with the right mind frame. Also, remember that whether people may support you or doubt you, at the end of the day it really is up to you to make a name for yourself.
Lesson 2: You Don’t Have To Be Famous To Be Rich
Rosalía Mera Goyenechea was the richest self-made millionaire at the time of her death in 2013. She was a Spanish businesswoman and entrepreneur who co-founded the Zara retail chain with her then-husband Amancio Ortega Gaona. The company has now grown to become the world’s largest fashion retailer. Her net worth was $6.1 billion.
Many of us may not know who Rosalía Mera is and that’s exactly why we have included her in our list of lessons from millionaires. If it wasn’t for helpful websites like Forbes we wouldn’t know many rich people who aren’t in the spotlight. Sometimes, it seems like the only people who have money are famous but that’s quite untrue. There are multitudes of millionaires and billionaires who we have never heard of. The point is that everything we work towards and accomplish doesn’t have to be known publicly. If you are working in silence and you don’t need the promotion, continue to do so, it may just pay off.
Lesson 3: Don’t Despise Small Beginnings
Zhang Xin is co-founder and CEO of SOHO China, the largest commercial real estate developer in Beijing. Her net worth is $2.6 billion and she’s one of the most powerful women millionaires in the world. Zhang studied at the university of Sussex where she studied Economics. She went on to work for Goldman Sachs in New York then went back to her hometown Beijing to work for Travelers Group.
Notice that Zhang Xin did what a lot of young people start off doing. She got an education and then she worked a few jobs before starting her business. The skills we can get from our employers before we start our own ventures can be very valuable. Regardless of where you are right now in your career journey, think bigger than your circumstances.
Lesson 4: Learn From Failure
Everyone knows who Bill Gates at this point in life. Bill Gates has said that learning from failure will give you a better lesson than success will.
“Success is a lousy teacher. It seduces smart people into thinking they can’t lose.”
Bill Gates dropped out of college yet he encourages others to get an education. After experiencing his fair share of failures he is advising others on ways to succeed. Bill Gates also speaks about the importance of doing things differently from everybody else. Do things where the market isn’t crowded and where you can find and dominate your niche.
Lesson 5: You Don’t Know How Close You Are To Your Next Big Idea
“My revenue was $4 million my first year in business, off of one $20 item.”
Sara Blakely is an American businessperson and founder of Spanx. Sara initially wanted to become an attorney but she failed her admissions test to get into law school. She went on to work in unrelated jobs and also worked as a stand-up comedian. When she began selling fax machines on a door to door basis she realised that an improvement could be made on the pantyhose she had to wear to work. It was through her cutting off the feet off of her pantyhose to make her body firmer, she realised her idea. Her idea was turned down by many investors and after a few rejections she finally got a yes. Although it took Spanx a while to get off the ground, all it took was one product to make her a millionaire and leave her job.
In times of hardship and doing jobs we don’t particularly want to do, we may come up with our greatest ideas. Passion has no particular location, it can come from anywhere. Stay open to inspiration everywhere you go, it may just lead you to the business of your dreams.
This post was written by Bola