So you want to be a millionaire? Start doing these 6 things

Put your hand up if you want to be wealthy.

Thought so!   

Unfortunately, there is no short cut to becoming rich.

Trust me, if there was one everyone would have found the route by now and more of us would be retiring early.

There are a few things you can do, however, that dramatically increase your chances of success.

I’ve spent quite some time researching the habits of rich people for the wealth-creation books I write, and I’ve found a few common threads that unite nearly all millionaires (at least the self-made ones).

So if you want to join their club, here are some things you should start doing immediately.

1. Commitment

There are lots of people with great ideas out there and many have the talent to back it up.  

So what stops them?

Why do so many ideas fail to get off the ground?

The answer?

Because people fail to commit.

Fear of commitment isn’t confined to relationships, you see.

You can be afraid to commit to an idea, too – the fear it won’t work; the fear of the hard work in front of you; and the fear of looking stupid in front of your peers.

Wealthy people choose a path and they commit to it wholeheartedly.

2. Asking questions

You'd be surprised at what you find out once you start asking questions.

It’s true that knowledge is power and there’s no substitute for the kind of information you can gather by inviting people to tell you things.

And most people enjoy talking about themselves!

How will this help you become rich?

Well, it develops your frame of mind so that you’re open to discovering new things.

And when you’re open to new things then you’re open to ingenuity, ideas and opportunities.

And that is really what entrepreneurialism is all about.

3. Dealing with your money hang-ups

You will never be wealthy if you have issues with money. 

Now, I am not talking about not having enough.

I’m talking about emotional blocks that undermine your relationship with money.

Before you can make it, you need to come to terms with whatever is holding you back.

It could be a fear of success, or maybe you were taught that money wasn’t important and there are bigger things in life.

Sometimes people who never had any money growing up have a hard time saving because whatever money they earn tends to get spent on luxuries they feel they were denied in their childhood.

Whatever your hang-ups are it’s best to deal with them now so you can start a much healthier relationship with money.

4. Following your own path

I’m a big fan of people working for themselves.

I think it’s the best way to generate real wealth, as you’re unlikely to become rich by working for someone else’s dream.

That’s not to say you shouldn’t serve your time or work for an inspirational mentor who can teach by example.

But when the time is right, and you’ll know when that is, you need to leap.

And don’t worry about what others are doing.

No one ever became wealthy by mimicking the actions of others.

5. Trusting your gut

This point is a very important one. 

So many of life’s decisions are based on hunches, whether you realise it or not.

When someone has two options before them, and both have merit, very often people will decide on a gut level.

They may not call it that, but often the final decision on what is the right course to take is based on a feeling that one path felt “more right” than the other.

Our instincts are very important and wealthy people are often highly instinctual.

They can read a room, they know an opportunity when they see one, and they use these instincts to bring out the best in people – and better their chances at success.

6. Being open to change

You will not get rich by staying the same.

That is a fact.

Change is required in order to become successful enough so that you’re financially free.

The path to wealth will require adaptability and challenges. 

There will be habits and thoughts you’ll need to let go of and new challenging habits you’ll need to adopt.

But change is scary, right?

No one likes change and humans spend a lot of time avoiding it.

But an interesting life is full of change and the sooner you can embrace it, the better — and more successful — you’ll be.

The truth is, many people let fear define them.

It’s why so many shy away from truly chasing success.

But if these points I’ve raised don’t scare you, or you’re at least able to manage the fear, then you’re already halfway there.

About Michael Yardney Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media.