Are these the 6 steps to becoming a millionaire?

Sounds easy, right? Six simple steps to take throughout your career and you can become a millionaire. Perhaps…

According to Jeff Rose, the founder of Alliance Wealth Management, there are 6 steps to find yourself in the same position he is in today. Rose told Forbes about his theory and we’re taking notes.

1. Be the best

This one seems a bit obvious, but there we go. Rose says that to get to the top you need to work harder and smarter than those in the same field. Know your stuff by identifying your competition and what makes them different. He advocates a common sense approach – in other words, knowing your markets.

 

 

2. Learn from your mistakes

If you mess up, figure out how and why. Identify what you did wrong, and learn from it for the next time. Rose acknowledges that mistakes are tough to take, but also says that you need to recognise mistakes and move on from them.

 

3. Be passionate

Don’t get behind a project that you don’t love, because you can’t sell it to customers without believing in it first. Find a gap in a market that you care about, and make sure you embark on a project that excites you.

 

4. Budget

Be realistic about your budget and your expenses. This includes your personal life, not just work expenses. So take note of what you spend on dining (at home and out), clothing, fitness, home life and indulgences.

 

5. Invest wisely

Get in early with investments, as much as the world of stocks and bonds might make your head spin. Get good advice and be smart with your investments. Rose maintains that investing is easy to get in to, and worth it in the long term.

This also applies to your personal life – save for a rainy day. Don’t let unexpected expenses set you back.

 

6. Believe

His final piece of advice is that you have to believe in yourself and in your projects. Ignore any naysayers out there and don’t let disbelief cloud your progress.

Now what?