Friday, May 18, 2007

Secrets Of Self Made Millionaires

Secrets Of Self Made Millionaires:
"Is there a formula for wealth creation?

Do all self-made millionaires take the same steps to amass their fortunes?

If we were to do an in-depth study of how self-made millionaires think and act, would we find some common clues that we can learn from?

The answer is yes.

These are seven essential steps, each one representing a wealth creating skill that all self-made millionaires possess and practice:

* Step 1: Adopt the Million-Dollar Mindset

Millionaires see learning experiences, where Mister Ordinary sees failure.

* Step 2: Set Clear Financial Goals

Wealth never happens by chance. It always begins with a clear goal in mind.

* Step 3: Create A Financial Plan

Once you have set specific financial targets of how much you want to earn and how much money you want to accumulate, you can then develop an effective plan to achieve it. Goals by themselves are nothing but pipe dreams. Only when you create a plan, have you made your goal a possibility. The moment you start taking action on your plan, your dream becomes a reality.

* Step 4: Massively Increase Your Income

After developing their financial plan, most people tend to become initially disheartened. They look at their plan and realize that with the amount they are earning and saving right now, it will be decades before they see any big money.

It is therefore important that you learn how to accelerate and turbo-charge your financial plan by taking steps to massively increasing your income.

* Step 5: Manage Your Money & Reduce Expenses

Many people think that by increasing their income, their wealth will automatically increase. Unfortunately, increasing income is only one side of the wealth equation.

* Step 6: Grow Your Money at Millionaire Returns

By increasing your income and reducing your expenses, you will find that you will be able to accumulate a surplus of funds that you can use to help you build your fortune.

* Step 7: Protect Your Fortune

There is no use working hard to build your personal fortune only to see it all taken away from you. There are many people who have taken decades to build their fortune only to see it wiped out by an accident, unforeseen illness or through an unexpected lawsuit.


So there you have it, these are the seven steps that you must take towards financial abundance. I believe that if you were to take just these 7 steps today and apply them prodigiously right now, you'll see instant results.
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"Secrets Of Self Made Millionaires: