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6 Things Young Self-Made Millionaires Have In Common

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Most people work their entire career without becoming a millionaire – but some achieve that level of wealth before turning 30.

As it turns out, there are a few key characteristics that set certain people up to earn big early on, according to Peter Voogd, founder of the Game Changers Academy, who made his first million before turning 26.

“You don’t make a million by accident, If it’s not a goal you sure as hell won’t hit it.”

Here are six vital traits young, successful millionaires share, as observed firsthand by Voogd:

They have a sense of urgency.

The best companies on the planet LOVE young talent, they love those who are on purpose, and they love those who have a sense of urgency to their life. Google is hiring more teenagers than college graduates. Here’s an article talking about the 12 year old they just hired. Hmm… I would ponder on that one.. Realize, now matters more than any other time, and the “someday isle” mentality is killing so many dreams. I know people who have been in the same company for years, but haven’t advanced. Opportunities are only opportunities if you’re taking full advantage of them. Young millionaires always do, and they are consistently reaching for new goals and ambitions. You MUST have a sense of urgency that most of society doesn’t have if you’re serious about success. One trait we look for when qualifying people who apply for our Game Changers Academy is urgency. Do they have hunger and ambition to elevate their game NOW, not a month from now? There will NEVER be the right time.

Elevated Influence: They find a strong mentor.

Behind every young millionaire you’ll find an educated and wise mentor. I have yet to meet any millionaires or billionaires who don’t have mentors that guide them, challenge them, and always focus them on bigger thinking. They understand deep down that it’s impossible to grow, learn, and become the person needed to reach the million mark without an exceptional network behind you. Success rises and falls on who you associate with so make sure you stay aware of your surroundings. You can systematize a lot of things, but you can’t systematize time so make sure you’re always spending it with the right people.

Maximizing Their Strengths

One of my favorite Gary Vaynerchuk quotes of all time is

“I suck at 99% of stuff, but I go all out on that 1% I’m good at.”

We’re conditioned by our teachers, peers, parents, uneducated coaches, and everybody else pumped to give advice that you must “learn to work on your weaknesses,” and “Strengthen your weaknesses,” but all young millionaires focus 100% on their best skills and strengths. They learn to surround themselves with people who compliment their weaknesses, or they delegate them. You’ll never get wealthy focusing on things you aren’t good at. Whats your 1 thing? What can you become the best at? Now, once you master that area, and start producing real results, you can then move to something else. The jack of all trades is seldom exceptional at anything, and usually broke as well.

Never Trade Time For Money- They focus on leverage.

Young Millionaires realize they’ll never become wealthy trading time for money, and neither will you. It’s ok for awhile, but at some point you have to focus on scaling and leverage. One of the reasons Entrepreneurship, Network Marketing, Direct Sales, and Internet Businesses are growing exponentially is because of the endless possibility. It’s not easy, and it takes risk, but you must see past the risk and focus on the rewards. Focus on the power of leverage and how to create consistent income without trading time for money. Investment properties, membership sites, building a brand, partnerships, affiliate marketing, different types of programs, etc. Take some time to really analyze if you’re maximizing your time. If you are trading time for money make 100% sure it’s an intelligent trade. If you want to make more money become more valuable. It’s as simple as that. Millionaires become millionaires because they’ve added more value to the marketplace than most people, and they understand the power of leveraging and scaling their businesses.

They Could Care Less

You must drop the need to be liked if you want an extraordinary life. People who care what others think of them will always be limited to others opinions. You best believe Young Millionaires take very few opinions and have a extremely thick skin. (Check out my 1o min podcast about “How to build real mental toughness“) When you pursue greatness don’t expect others to support you, because you’ll represent the courage, strength, and vision they don’t yet have. The remarkable innovator, Steve Jobs use to say“Your time is limited so don’t waste it living somebody else’s life.”

Young Millionaires trust their vision, and have an unshakable confidence in what they do; even when everyone else is doubting it. I challenge you to stay fearless in everything you do. The reason most don’t take risks, live on the edge, or push the envelope is the fear of what others might think of them. If you want to live the life you truly deserve, one of significance and fulfillment you must give up the need to be liked by everybody. Will Smith said it perfectly

“Trying to get everybody to like you is the most common chosen road to mediocrity.”

Producer First, Consumer Second

In one of my favorite books “The Millionaire Fast Lane” MJ Demarco talks about the importance of being a producer first, and a consumer second. Here is an insert, “Applied, this means instead of buying products on TV, sell products. Instead of digging for gold, sell shovels. Instead of taking a class, offer a class. Instead of borrowing money, lend it. Instead of taking a job, hire for jobs. Instead of taking a mortgage, hold a mortgage. Break free from consumption, switch sides, and reorient to the world as producer. To consume richly, produce richly first. Unfortunately, most people have it backward: consumption and no production. Producers get rich. Consumers get poor. Switch teams and reorient as a producer first, a consumer second. Make wealth attracted to you!”

Those focused on building something bigger than themselves, and are consistently on purpose are always producing results, not consuming.

I challenge you to take these seriously, and become more intentional in all you do. I will tell you Wealth, Lifestyle, and Freedom are best experienced at a young age! Most people spend the first 1/2 of their lives saying they are too young, and the second 1/2 saying they’re too old. The time is NOW, and there is no tomorrow for champions. Are you really living your potential, expressing your creative genius, and living an inspiring life? You’re just a capable and deserving as everybody else, but understand it takes massive sacrifice along with implementation of the right actions. This is the greatest time in human history for those who take 100% responsibility for their economic well being. Commit to these tactics with the focus that your life deserves, and continue to cement in your head that you are always in control of your economy regardless of your outside circumstances. Respect to you and the progress you’re making towards a world class life.

We love to hear your thoughts and comments!

 

 

This article was originally written by Mr. Peter Voogd a Leading Authority for Young Entrepreneurs

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