6 Skills of Self-Made Millionaires That You Should Be Using, Too
Heed the advice of those who have reaped success. Here are six skills used by self-made millionaires that you should be using and building upon each day.
1. Be able to identify fruitful opportunities.
Carlos
Slim Helu, Mexican business magnate and philanthropist, said, “When
there is a crisis, that’s when some are interested in getting out, and
that’s when we are interested in getting in.”
Learn to identify
open doors
when they appear, then consider the risks and weigh them
against potential benefits. An opportunity can be a great one regardless
of whether no one or everyone is rushing to grab it -- if no one is,
that’s your cue to move forward; if everyone is, that’s your chance to
prove you’re better than the rest.
2. Focus on actions over words.
“Actions
speak louder than words,” supposedly, and the late Andrew Carnegie
agreed. As his career grew, he said, “As I grow older, I pay less
attention to what men say. I just watch what they do.”
Understand
that a shining business plan or investment presentation means little
when you don’t demonstrate the ability to carry out your ideas well.
Customers and clients want to see flawless application of your company’s
core values and mission statement. Keep this formula in mind when
seeking out employees, as well. A perfect resume doesn’t necessarily
constitute a perfect employee, if that person can’t properly act on his
qualifications and intentions.
3. Maintain a clear vision of success.
“Vision
is perhaps our greatest strength... it has kept us alive to the power
and continuity of thought through the centuries, it makes us peer into
the future and lends shape to the unknown.”
Hong Kong business
magnate Li Ka-Shing, the richest person in all of Asia, believes in
vision as a motivational tool for success. What does success look like
to you? If your answer is just “a lot of money,” this may not be the
article for you.
Many people envision success as finally seeing
their product on store shelves, making up for initial overhead costs,
gaining a certain following or changing the community in which they
live. In order to stay on track toward fulfilling your goals, it’s
important to maintain a clear vision of what that goal is -- and what
things will look like once it’s achieved.
4. Never stop learning.
Entrepreneurs
who don’t acknowledge the need to constantly learn new things are
denying themselves and their businesses the chance to grow. Even once
you achieve some degree of success, understand that those around you
(even those who are less successful) know something you don’t.
Listen
to what others have to say about their experiences. Learn from their
achievements and their mistakes. If you don’t want to base your
development on other people, try taking a step back and exploring the
areas of entrepreneurship you can still improve upon. Elon Musk, founder
of PayPal, SpaceX and Tesla Motors, says “that’s the single best piece
of advice -- constantly think about how you could be doing things better
and questioning yourself.”
5. Get the job done.
This
one sounds simple, but you’re likely procrastinating without even
knowing it. Those who spend an immense amount of time marketing a
business before there’s even a business to advertise are putting off
actually building a brand. The same goes for those who spend time
attempting to perform Web or graphic design themselves, obsessively
organize finances and legal paperwork, and so on.
Even as an
entrepreneur, you can’t wear every hat, and it’s often smart to assign
tasks that aren’t immediately related to building your business to
someone else. Don’t be afraid to ask for help from a small team of
employees or some remote freelancers if it means you’ll be able to turn
your company into everything you dreamed.
“Getting the job done
has been the basis for the success my company has achieved,” said
Michael Bloomberg, entrepreneur, investor and former mayor of New York
City.
6. Only hire rock stars.
You can’t
exemplify greatness if the people who make up your company aren’t great,
too. My brother Matthew and I have always made a point of carefully
selecting those we hire on to our teams, even if it takes a little extra
time. We like people with a heavy determination to GSD (Get Stuff
Done).As we have such grand expectations for our employees, we always make sure to treat them as more than just that. Matthew and I strive to take care of them as we would with family. Matthew and I also allow our employees the flexibility to work from anywhere and provide bonuses from time to time to thank them for their trustworthiness and flexible capability. The extra appreciation certainly goes a long way in enhancing work ethic and promoting remote teamwork.
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