Making Your First Million is Easy – If You Follow These 5 Steps

Making Your First Million is Easy – If You Follow These 5 Steps

1. Surround yourself with people who will stretch your mind.

What is your dream that is so big that the thought of accomplishing it seems impossible — and maybe even scares you? Do you think you would be more likely to accomplish it if you had a group of advisors who were already playing at that level? If so, take action on forming relationships with them, and let them guide you the rest of the way.

Read: 10 Essentials to Becoming a Millionaire in Your 20’s

2. Re-frame the impossible.

As you surround yourself with the right people, you will need to work on upgrading your mindset. Part of this will require you to recognize your limiting beliefs and re-frame those thoughts.

To rewrite your own story, ask yourself, “What are the things in my life that scare me and stop me from taking action? Is it the action that really scares me, or is it a false perception that is holding me back? How can I take action and move through it in spite of that fear?”

3. Deliver unexpected value.

Your ability to increase your income hinges on your ability to deliver unexpected value. Most people think the only way they can add more value is by working harder or exchanging money. This is thinking too small. You deliver unexpected value through the connections you can make, the time you can allocate and the problems you can alleviate.

Big opportunities open up when you building relationships with the right people, invest your time in your highest leverage activities and are a person who solves problems. Break out of the old mindset of thinking that you have to work harder or find a higher-paying job, and start developing the habit of incorporating these three things in your everyday life.

Read: How to Make Yourself Look Like a Millionaire (Infographic)

4. Choose your customers wisely.

The easiest way to fast-track your path to a million is to charge more for your products and services. However, when you tell someone to raise their prices, they often push back and say that the market doesn’t allow for that type of increase. This is where you have to choose your customer wisely.

The price a customer is willing to pay is directly tied to the amount of value they receive. If your services deliver a 10 percent sales increase to company that does $1 million in revenue, then you brought $100,000 in value. If you deliver the same 10 percent increase to a $100 million company, your value is exponentially higher. Would the first company pay you $250,000 for your services? No way. Would the second? It is quite possible.

5. Invest for the long term.

So many people go for the fast and easy win. While this may work for some, you will find that results come a lot faster when you invest for the long term. I’m not just talking about stocks and real estate. I’m talking about how you spend your time, the people you hire, the relationships you build, the products you develop and the structure of your company. These are all investments.

How much money are you leaving on the table because you are not planning out far enough and laying the foundation for long term success? Incorporate these five steps, and you may find that making your first million is easier than you originally thought.

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Article Credits Go Respectably to Entrepreneur Media, Inc.

64 thoughts on “Making Your First Million is Easy – If You Follow These 5 Steps”

  1. Pingback: Michael Esplana
  2. Thank you so much for your thoughts! I found them very motivating and inspiring 🙂 and what do you think about meeting right people? What if you are not meeting them, could the problem be in you or what are the pitfalls? Best, V

  3. I guess in the end we can’t rob ourselves of the journey of building. Even if it does not happen in that time, our character is forever developing. We’ll be ready when it comes later than we expected.

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