InMoney & Career

Ultimate Guide: How to Become a Millionaire

To become a millionaire, you need to start doing these 14 things.

Most people wish their circumstances would magically change for them. They want to inherit a fortune or win the jackpot on a game show or by gambling. They don’t want to better themselves to improve their own circumstances. They don’t want to work to become a millionaire, they want the money to fall into their laps, magically. Possibly by a genie.

You don’t have to be like that, you don’t have to sit back and wait for your lucky day, you can go ahead to become the kind of woman who has the skills and abilities to do amazing, breathtaking things.

Who you are as a woman, and the kind of work you do, is entirely and utterly within your control. But wishes won’t make it happen. You must become a woman who naturally attracts the success that they desire.

To become a millionaire, you need to invest in yourself

To become an influential millionaire, you need to invest at least 10% of your income in yourself. This is because if you don’t pay for something, you don’t pay attention. If you get something for free, you hardly ever value that thing, you rarely take it seriously.

Whether it’s investing in learning a new skill, or developing yourself personally or professionally, you must give to yourself, before you can give to others. We have a responsibility to grow our gifts and talents so that we can best help others.

By investing in yourself, you’re saying that the value and potential that you have is important enough to you that you’re going to give it energy, space and time to grow and create results.

When you’re willing to say yes, take a leap of faith and invest in yourself, the universe will provide you with fantastic rewards.

You could choose to invest by taking a night class, an online course, reading books, listening to podcasts, attending seminars, workshops and going to conferences, you could hire a personal trainer, a nutritionist, herbalist, or just join a gym, you could hire a coach- be it a life coach, business coach, career coach- if you want a coach for it, there’s one out there!

No matter what your budget is, there is a way to invest in yourself.

If you don’t have 10% of your income to spare, you should consider investing 10% of your free time. There are plenty of free ways to invest in yourself, but you do still need some skin in the game, if you invest 10% of your time, that’s still too much invested to back out.

Put time into learning

When most people are left to their own devices, most people consume their time. It’s only by investing your time that you get a return.

Unless you are being deliberate and strategic, nearly every second spent on social media is consumed time, not invested. Instead of making your future better, it makes your future worse.

Fun is all well and good, but only when it’s an investment in your relationships- like spending time with your SO, or having a night out with the girls, or when that entertainment is an investment in yourself- you’re taking care of your well-being. You can tell that you’ve made an investment in entertainment when you yield returns, like positive memories, transformational learning or deeper relationships.

Life isn’t just about being having fun though, education and learning are also important.

The process of learning and development needs to be a continuous one, if you are going to become a millionaire, you need to develop a voracious appetite for knowledge. To gain mastery of a concept or a skill, you’ll need to study and practice over and over and over again.

Every day you should ask yourself how you can be better in your field of endeavour and go right ahead to do those things that will move you one step closer to achieving your goal. Ask yourself what makes the best professional in your field- whatever best means to you, and channel your energy and resources into bringing it to fruition through continuous learning and development.

The most successful people are passionate learners. They’re hard readers, they know that what they know changes how they see the world, both at large, and their section of it. They know that what they learn affects the quality of their relationships and the quality of work they can do.

If you’re always taking in junk media, how can you expect to create a high quality of work?

Garbage in, garbage out.

Sharpen your saw

Wealthy and happy people work to learn, that is, they spend only 20% of their energy doing actual work. The rest is spent learning, improving and resting.

By “sharpening your saw”, a concept from Stephen Covey’s “7 Habits of Highly Effective People”,  is about cultivating the greatest asset we have- ourselves (picking up on a theme yet?). Specifically, it’s about renewing the four dimensions of our lives: physical, mental, social/emotional, and spiritual.

To apply the concept, you could make a list of activities that would keep you fit, would suit your lifestyle, and that you would actually enjoy. You could make a similar list for your spiritual and mental dimensions, and make a list of relationships you’d like to improve and work on improving them.

By sharpening your saw, and increasing the quality of your work, you’ll be able to charge astronomical prices for your work, because no one else can do it like you. You’ll continue to become a better and more capable person. As you dedicate significant portions of time to becoming a better communicator, thinker, leader and better at your craft, your work quality will increase.

After you prioritise learning and recovery, then during the hours you’re working, you’ll be able to reach a deep flow state. You won’t get distracted. You’ll be either completely on, or completely off. When you’re working, you’ll get more done in a few hours than most people get done in days.

Your time will be well spent because your priorities are clear, you’re well rested, and your mind is sufficiently stimulated.

Learn to create value.

In this age, there isat least a shedload of things you could study. But if you don’t put it into practice, it becomes mere information.

Information is what you read from a book or hear from a speaker. Knowledge occurs after you’ve put that information into practice, and deeply understand.

It requires wisdom to determine what you need to learn, why and when you need to learn it.

Unless you’re devoted, you probably won’t learn with the passion required to maximise the knowledge. Unless you know the value of your time, you probably won’t be able to ignore almost everything going on around you, while you learn.

When you learn something, you must get a return on that learning. If you’re not applying what you’re learning, you’re wasting your time.

Invest 10% of your income into a vehicle that will make more money

Most people’s lifestyles match their earnings. When they make more, they consume more.

It’s best to think of your business or paycheck as only ½ of your income balance. You have your business, which brings income. Then you have your investment entity to turn your income into even more money.

How well you handle your money is affected by how educated you are. If you want to be great with money (who doesn’t?!) you need to invest in education and mentoring.

Start today, get educated. Create a vehicle or several, where you put at least 10% of your income. Eventually, your investment might start producing more profits than your actual business.

If you put 10% of your earnings into your investments over a significant enough length of time, you’ll be set. You’ll be able to retire whenever you fancy because your money is making more than enough money for you to live with comfortably. You’ll be able to take long, luxurious holidays, or donate generously to causes you believe in.

For more info on investing, read this.

Shift your motivation from getting to giving

There are two kinds of people in the world- takers and givers.

Takers like to get more than they give, they are selfish because they expect everyone is to be selfish too. They believe that the world is a dog-eat-dog world. “If I win, you lose.” Takers believe that “the pie” is fixed, so they’d better get the biggest piece of it.

Givers, on the other hand, like to give more than they get, they focus on other people and assume the best of them from the beginning. They believe that people are generally good and that there is abundance. “If I win,you win, too! 

Everyone should work to be givers, people who give with no strings attached and expect nothing in return. By giving generously in time, advice, effort, “the pie” is enlarged, and there is enough for everyone. Because their generous behaviour is copied and paid forward, they trust more, and more come up with innovative ideas that eventually enlarge the pie.

In the workplace, and in our careers, we become matchers, that is, we want to be givers, but we get cautious. We don’t want to give to a taker, because it might cost us energy and time, and prevent our own work getting done, while we get nothing in return.

To become a millionaire, we need to give generously, with no strings attached, but be careful not to overextend. We need to take care of ourselves before we can give to others. As successful givers we need to ensure the people we help are worthy of it- will they pay it forward? We must adjust our strategy after we discover we’re dealing with a taker, a little competition never hurt anyone. 😉

To become a giver, also known as having an abundance mindset, we must:

  • practice gratitude
    • Every morning while you have your morning cuppa, write down 5 things you are grateful for.
  • Appreciate and congratulate others.
    • Why shouldn’t you celebrate the good fortune of others? There is enough to go around, and you are succeeding too, in different places and at different things.
  • Give
    • Find a way to put yourself out into the world, whether you give your time, effort, money, knowledge, personality, whatever!

To become a millionaire you need to be open to the idea that there is an abundance of wealth, opportunity, love, support, success, and a myriad of other positive things besides.

Openly acknowledge your dependency

“Self-made is an illusion. Many people played divine roles in you having the life that you have today. Be sure to let them know how grateful you are” 


– Michael Fishman

The fact of the matter is, everyone depends on other people to do what they do. But it requires wisdom and humility to acknowledge that dependence openly. Instead of seeing it as a weakness, realise that it’s a strength.

Beyond acknowledging that you are dependent, you need to express your gratitude to the people in your life consistently. Relationships are assets that should grow better and better over time. If you don’t value and give to your relationships, they will suffer. Relationships are kinda like bank accounts, and if one person is constantly depositing and the other only withdraws, eventually all the resources become depleted. When two people are both continually giving and receiving, the account grows and expands.

To become a millionaire you must collaborate

Collaboration is absolutely essential in all aspects of our lives, it enables us to connect with other people, and engage in meaningful work, instead of grinding and focusing on winning.

Working together with people enables us to work more productively, to focus on creating solutions that work instead of competing with each other.

Whether you’re collaborating with someone in your niche or department, or you’re collaborating with people who have completely different skills than you do, working together means that we can create something much more effective, than if we work on our own.

To be able to collaborate effectively there are several things we need to keep in mind:

  • Crystal clear definitions and agreements on the roles in the collab.
  • Open communication
    • All people involved should be able to share information. Don’t hold back.
  • Consensus about goals and methods for completing projects or tasks.
  • Recognition and respect for the contribution of all the people involved.
    • Give credit where credit’s due.
  • Identification of obstacles and addressing problems together, as they occur.
  • Group goals placed over personal satisfaction.
    • Focus on results- not individual goals
  • Willingness to apologise for mistakes, and the ability to forgive others for them.
    • Holding a grudge for a simple mistake can jeopardise the results of the collab.

In today’s world, being able to collaborate is a super important skill, just as vital as, or perhaps even more important, than your technical skills. Even though these skills may not come naturally to you, they can be easily learnt and practised.

Create reaching Goals

Making something you want in life (like becoming a millionaire!) an actual goal is an essential step in making it happen. This is because you’ve made a decision to act to get what you want. Goals give us direction, keep us motivated, and increase our chances of achieving things.

Here’s a post I’ve written on setting goals.   

Get good at marketing

A lot of people hate the idea of marketing, they believe it makes them a sell out, or that marketing is a nasty, immoral thing. All marketing is, is making sure your work is more accessible and easier to use.

A certain amount of branding and marketing happens whenever we use social media, whenever we attend an event, or even whenever we meet new people. Learning how to think and work like a marketer is becoming increasingly important, no matter how shy you are, or what your career path looks like.

Getting good at marketing doesn’t just mean that you can sell your work better, it also means:

  • You’ll learn to listen.
    • Good marketers constantly listen, so that they can connect to people, take advantage of the direction of the conversation, and leverage relationships.
  • You’ll make better decisions
    • Marketers are able to interpret data and target the specific segment of an audience- the one who needs what you’re selling.
  • You’ll gain tact
    • Marketing is all about how to communicate with various audiences, you might have to sell your solution to your boss, and to the client, and to the client’s audience. Being able to talk to all of those people, effectively, is a fantastic skill to have.
  • You’ll be able tomake do
    • Sometimes your marketing budget might be 5 figures, sometimesit might be 2. As a good marketer you’ll learn how to hack growth, that is, reach the maxamount of people, with the least amount ofresources.
  • You’ll becomemore aware
    • Marketers have to know what’s going on in theirindustries, you’ll need to read, attend events, pay attention to pop culture,and the zeitgeist.

Focus on results and people

Leaders who can focus on both results and people are able to motivate people to be their best, and not lose sight of the bigger picture.This enables them to achieve extraordinary results because they do several things that other leaders who focus on either results or people are just not able to do:

  • Deliver feedback
    • Good feedback needs to be truthful and unbiased, but also considerate and inspiring.
  • Assemble a team who can execute a plan
    • People who can combine people-focus into their results-driven plans easily select the right team to execute the plan.
  • Solve problems as a team
    • People who focus on both results and people can draw out as many good ideas from their team as possible and practically steer a process that creates feasible solutions.
  • Hire the best
    • Great leaders can find employees who can do their jobs well, and are good fits socially and culturally, building morale and improving the bottom line.
  • Balance work and fun
    • Good leaders know how to motivate and push employees to be their best, and be able to slow down, and celebrate results and have fun, preventing burnout, building a great culture and getting results all at once.

Being able to focus on both results and people won’t just benefit you in the workplace. You’ll be a better person who is able to balance the need to focus on multiple things at once.

Learn to be productive

Millionaires are all productive and effective workers. They work when they work, and play when they play. You need to do the same.

You might need to try a few different productivity tools and hacks to learn what works for you, as the best method for someone else is likely to need a little modifying to work it’s best for you.

Some of my favourite techniques:

  • Rise early
    • I’m pretty easily distracted, so by rising early, I am able to get my most important task done with fewer distractions
  • Pomodoro technique
    • It took me a bit to get into the Pomodoro technique. I only use it for some tasks, like writing, and much less useful for anything creative- like photography, and graphics.
  • Good quality exercise
    • I find I work much better, and am able to concentrate easier if I get my blood pumping. As of writing this guide, I use my 5-minutePomodoro breaks to do a set of bodyweight exercises. As long as the overall workout is half an hour, then it doesn’t really matter how it gets done.
  • Change your environment for different tasks
    • In this case, it’s more of an idea than a technique for me, but I do change my playlist according to tasks.
  • Bullet journaling
    • Bullet journaling enables me to get clear on what needs to be done each day, relating to my business, hobbies, and personal life.

What’s “wealth” and “success” anyway?

Success and wealth aren’t all about money. Money is important, we all need to be able to pay the bills, and having it solves a lot of problems. But it’s just a tool.

You need to figure out what wealth and success mean to you.

  • How much money does wealth mean to you?
  • What experiences do “wealthy” people participate in?
  • Who are some people you consider to be the level of wealthy you aspire to?
  • What does it mean to be successful?
  • What do successful people do- how do you know that they’re successful?
  • Who are some people you consider to be successful in your field?

To become a millionaire you Must know your why

Having a strong reason for any goal you set, is what’s going to keep you in the fight long after everyone else quits. It’s going to be what motivates your team when all seems lost.

Having a strong “why” is going to be the reason you’ll succeed when everyone else fails.

You might have a vague idea of why you want to do, what you want to do. But when your goal is enormous and complicated, and far off, vague isn’t going to cut it. You need to get specific.

The easiest, and most straightforward way to find your why, is to ask. I talked a little about the “Five Whys” exercise in this post when dealing on guilt, but it’s also going to be super, super, super useful in discovering your why.

To use the technique in discovering your why all you need to do is ask yourself  “why do I want this?”

Example:

Person A: I want to earn a million dollars

Person B: Wow! Why?

Person A: Umm… Because I do!

B: What will earning a million dollars do for you?

A: Well, I’ll be able to afford that dream house

B: Great! What will having that house do for you?

A: I won’t have to worry about rent or mortgage payments

B: Great! What will that do for you?

I think you get the idea. Your first few answers might be quite superficial, and that’s okay! We all want superficial stuff. But when you keep going, you’ll discover your deep why.

Right it down. Keep it close. Look at it every day. Look at it multiple times a day. Doing this is going to be what lets you become a millionaire.

Your “why” doesn’t have to be altruistic. It doesn’t have to make sense to anyone other than you. If you want to get fit so that the hottie at the gym notices you, it doesn’t matter. That’s you why. If you want to have seven figures in the bank soyou can always travel first class or have a closet full of Chanel or Gucci, it doesn’t matter.

Get deep. Find your why. Live it.

Your strong “Why” may lose its effect, and no longer keep you motivated. Don’t worry. Just go back to the drawing board and restart your “why” exercise.


It looks like a lot of work, I know, and it is. But by doing these 14 things, you’ll not only become a millionaire. You’ll become a well-rounded person. You’ll become more confident, from hitting your goals, you’ll be well liked because you always thank those who’ve helped you, and you give credit where credit’s due. You’ll be a good leader because you’ll know how to focus on both people and results. You’ll be a good friend because you’ll be able to listen, actively, to your friends, and you’ll be able to be genuinely happy for their successes.

By doing these fourteen things, you’ll become a better person.

Excuse me, I have to go figure out my why…


This post was inspired by a Medium story by Benjamin Hardy

Photo by nikldn on Unsplash

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