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Millionaires Reveal Best Advice They Ever Got

Millionaires Reveal Best Advice They Ever Got

By    |   Thursday, 23 January 2020 09:48 AM

Do you want to be a millionaire? If you are serious about taking the road to riches you may want to consider the advice these self-made millionaires received, and shared with USA Today, before discovering their wealth:

1. "All events in your life are neutral until you label them." 

At age 33, Michael O’Brien thought the prime of his life was over. He had suffered a near-death cycling accident and had sunk into a "life-isn't-fair" mindset. This was before he was an executive business coach, author of "Shift: Creating Better Tomorrows," and founder of Peloton Coaching and Consulting and The Pace Line Leadership Academy.

"When I unloaded my frustrations on a mentor, he told me, 'All events in your life are neutral until you label them. Nothing has meaning until you give it meaning,'" O’Brien said. "This shifted my perspective and showed me the possibilities. Even though things looked dark and difficult, I had a choice. I could be a victim or use the opportunity to create a better version of myself and inspire others."

2. "You’re only as good as the people you surround yourself with."

When he was in his late 20s, Johnathan Ruggiero, co-founder and CEO of wedding band company Manly Bands was overwhelmed in his role as supervising producer at Getty Images. His friend and mentor, Dave Adelson, offered life-changing advice- "You’re only as good as the people you surround yourself with."

Ruggiero said he didn’t always trust others to perform tasks as well as he would.

"Dave taught me that while you may be able to accomplish success by yourself for a while, it’s essential to delegate to reliable team members if you’re in it for the long term," he said. "To truly achieve personal and professional growth, you must share the responsibility with others you can trust, which is what we’ve done at Manly Bands."

3. "Do the best job you can at everything you do. The result is not your responsibility."

These words left a lasting impression on Matt Clark, co-founder and chairman of Amazing.com and co-creator of Amazing Selling Machine. "The man who said these words founded the entrepreneurship school at my college, which is where I first heard this advice," he said. "But it took me a while to truly understand and appreciate it. First, I had to experience many successes — and, more importantly, failures."

Clark explained that all a person can do is their best.

"It doesn’t matter if something in the world changes. Someone may take your job, a competitor may come out with a better product, or someone may wrong you. Beating yourself up because things didn’t turn out like you wanted won’t help."

4. "Be patient and persistent."

Success comes down to persistence and patience, as Marcello Arrambide, founder of Day Trading Academy and co-founder of SpeedUpTrader, learned from his uncle.

"My day trading career required both of these qualities," he said. "Everyone thinks they’re going to become a millionaire after a weekend course, but trading is a skill you have to develop. It took me several years to achieve consistency."

Arrambide also experienced this with his travel blog, WanderingTrader.

"When Google’s algorithm changed and its popularity took a nosedive, I asked my uncle if I should quit. He told me to stick with it, so I did. At its peak, it was one of the most popular travel blogs in the world. Too often we look for immediate results, but anything of value takes time."

5. "The best products and businesses exist to reduce friction."

This simple piece of advice from Serial entrepreneur Dave Perry changed the life of Luke Freiler, CEO and co-founder of Centercode.

"Modern life is increasingly complex, driven by much of the technology we engage with daily. Dave’s words remind me to look for ways to counteract that," he said. "Deliberately seek out what’s causing friction for your customers and improve it. It doesn’t have to be revolutionary."

6. "There is abundance for everyone. You just need to dive in and grab it."

Several years ago, Michelle Luchese, co-founder and chief product officer of Manly Bands, said she was lost on how to achieve her goals. "My boss at the time inspired me; while she was busy and successful, she was also carefree and had everything under control," she said. "We were discussing climbing the corporate ladder as a woman, and she said something like, “There is abundance out there for everyone. They just need to dive in and grab it!” That made me realize that I could find abundance too."

7. "If you have time and energy for the work you’re meant to do, there’s no such thing as 'too much.'"

When he was younger, Jonathan Goodman, founder of the Personal Trainer Development Center and the first-ever certification for online fitness training, the Online Trainer Academy, struggled to strike a balance in life.

"When I was 29 years old, business was going really well. I was making more money than I ever dreamed, but my relationships and quality of life suffered, and I had stopped all my hobbies," he said, "I knew something had to change; so I sought answers at an event called Mastermind Talks, where I befriended Dandapani, an entrepreneur, Hindu priest, and former monk. I asked him: 'Things are going pretty well, but how do I know how much is too much?' He told me there is no single answer, and as long as I had time and energy to do the work I’m meant to do, there is no such thing as 'too much' money or a company that’s 'too big.' But the minute this takes away from what energizes me, it’s too much."

8. "Stay the course."

Allyson Byrd, a top sales trainer, Amazon bestselling author of 'Leave Your Mark' and founder of The Church of Profit Acceleration, credits her success to this advice from her mentor, bestselling author Dr. George C. Fraser.

"Three words in three seconds and my understanding instantly expanded," she said. "When you’re new to entrepreneurship, three things can quickly and easily knock you off your path: Doing business alone, without mentorship and coaching. Doing business alone, without mastermind partners and collaborations. And finally, doing business with shiny-object syndrome, where you let every new idea that blows through your market throw you off your goals. Stay the course. Stay on course."

9. "Become an expert at something."

It was a college professor who changed the life of Marla Beck, co-founder and CEO of Bluemercury, with these words of wisdom.

"Personally, I focus on being an expert at leadership, entrepreneurship, product innovation, and parenting. Professionally, I created Bluemercury to be the experts at beauty advice," she said. "To make that happen, we needed the most knowledgeable staff in the industry. When we started the business in 1999, most industry employees were only given part-time work. So we asked ourselves: What if we gave our staff full-time work, benefits, leadership and management training, and a career path? Industry veterans said this would never work, but we did it anyway."

The result was that the company retained all its employees’ expertise, customer relationships, and loyalty.

"Our people are still the key to our success today," Beck said.

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Do you want to be a millionaire? If you are serious about taking the road to riches you may want to consider the advice these self-made millionaires received, and shared with USA Today, before discovering their wealth.
millionaires, advice
Thursday, 23 January 2020 09:48 AM
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