How to Make a Million Dollars (Part One)

  Making a million dollars is the most sought after financial dream. Since the beginning of money there has also been a desire to possess this unique amount of money. Individuals have been attempting this goal for centuries and will continue to attempt this goal for a long time to come. If you are like most who think about this dream, it can become a reality if you are willing to put in the time and efforts to make it happen. I strongly feel that anyone can create this amount of money if they are truly sincere about creating it. Every task you try to complete takes an effort to become a reality. Making a million dollars is no different than any other task you attempt to complete. You must understand if you are going to be successful at the task of obtaining a million dollars, it will take time, hard work, dedication, and most importantly, consistency to make it happen. 

Knowing that this task will be difficult, why would anyone want to make it a reality? Why not just sit on your butt and have an average life style or allow the government to take care of you. To break this accomplishment down on a mental level, it would have to deal with a few factors such as; pride, bragging rights, self accomplishments, power, material items, and retirement planning. You may not agree with all of these categories or reasons for this accomplishment; however, when you think of the necessities in life such as; food, water, and shelter, you have to think differently about making a million dollars, which is a lot more than just a necessity.    

Understanding the Million Dollar Goal:

To understand this million dollar goal, it must have a purpose. This often gets confused with greed. There are so many individuals who want money for the wrong reasons. There are many reasons why you would want plenty of money, but the most important reason should be to secure your retirement years. This is when you will need the money the most because in most cases you will not be able to work or support your current life style.

In order to accomplish this million dollar goal, you must have the proper mindset to accomplish this goal in the first place. This mindset will allow you to make this goal a reality. Without your mind properly set for success, it will never happen. The mindset that is needed is not solely about desiring the million dollars through greed. It’s more about understanding why you want the million dollars, and being able to do what ever it takes to obtain it no matter what obstacles stand in the way of your goal.

To understand the why, it must have a purpose. Again, this is not about greed, it’s about a better life style, raising children properly, sending you kids to college, getting out of the daily work environment, not living paycheck to paycheck worrying about paying your bills, and most importantly, your retirement years. If you have other reasons for this accomplishment, it’ll probably never occur.

By knowing what you plan to do with this million dollars, you will have set a goal of accomplishment. Having something to strive for will give you a reason to ultimately accomplish that particular goal.

Setting Goals:

Do you set goals? If you don’t, than you should start right now. Get out a piece of paper, and right down your goals. These goals should include short-term and long-term goals. A short-term goal is a goal that can be accomplished within a year. The time of a long-term goal is determined by the person who is setting the goal. When setting your goals, you should have a short-term goal and a long-term goal; however, you should have many goals in between leading you to your long-term goal. You could call this process steps. The steps are important due to the fact you’ll be able to see your progress, which will help you continue in your goal reaching process.

Do you write down you goals? All goals should be written down and viewed daily. This method will keep the goal active and the process in motion. If you fail to write down your goals, they will surely never be accomplished because they are usually forgotten.

What motivates you to accomplish your goals? For me, it was living bi-weekly, being poor, not being able to pay bills, not having air conditioning in my vehicle, and sending kids to school with a sandwich because I couldn’t afford lunch money. These are the true reasons why I was motivated to stay focused on succeeding in life. Your reasons may be completely different. Whatever your reasons are, they should be written down, posted and viewed daily. I would suggest, avoid being motivated by material objects. I say this because we are always changing our thoughts on what we think we want; therefore, material thoughts may change, causing disruption in the mental process. Your motivations must be known prior to beginning the process of building wealth or making your financial goals a reality.

Do you plan out your tasks? If you don’t plan out everything you do, you should start right now. This method is simple to overcome and the process will seem a lot faster to complete. Start with planning small details and follow through with the entire process. After a little practice, you will find yourself planning everything that you do. This process is important because you can see where you need to go and have all of the steps planned out prior to you beginning the process. This method will ultimately make the process a lot easier to accomplish.

Taking Control of your own Destiny:

Are your finances being controlled by you or others? If you have debt, someone is controlling you and your finances. If you are debt free, which you are probably not, you would be in control of your own finances.

The ultimate goal is to take the control away from the ones who control you through your finances, and ultimately be in control of your own finances.

To accomplish this goal you must:

• Get out of debt
• Start saving your money
• Start making money
• Start investing money
• Start protecting your assets
• Have a Financial plan

To be in control of your own destiny, you must first make the decision to take charge of your life, be responsible, apply the necessary efforts, and take control of your finances.

Making a million dollars has everything to do with controlling your finances first. There is absolutely no way to build wealth if you are in debt. You must be out of debt before any amount of wealth can be built.

Many have tried to build wealth while in debt, but few have succeeded in this task. You must understand that debt draws money away from you while being debt free enables you to keep the money you already have. You can also use it as a tool to increase your wealth. This is the main ingredient for wealth building. At only this point will you begin to build wealth and be in control of your own financial destiny.

Proper Mind Set:

 The way your mind thinks determines your success. Let’s begin with positive thinking. Positive thinking is the mental process of thinking positively. As easy as that seems, there are a lot of negative people all around you each and every day. A negative thinker will never reach their successes while thinking negatively. In order to become a positive thinker, you must reframe from thinking negatively. Instead of Thinking you can accomplish a task. You need to Know you can accomplish that task. If you want to be a positive thinker, you to need to remain positive at all times, while accomplishing your goals. This method will work if you give it a chance. It may take some practice, but in time, you will improve your positive thinking skills. Positive thinking can be your main “drive”, and it will also assist you in accomplishing the goals you set. I remember when I was struggling financially, barely surviving, and unable to pay all of the monthly bills. I know for a fact, if I was not thinking positive during those times, I would have never accomplished my goals. With that said, no matter what financial situation you are in right now, you need to change your thoughts to positive thoughts, and improve your situation. This process is called positive thinking.

What does success mean to you? Success can mean many different things to many different individuals. What you have to decide is what describes your success. Large or small, monetary or tangible, it’s your own success and is only determined by you. Success can also be determined by your accomplishments. What ever success means to you, it should be sought after.

Do you visualize your success? Can you see your success that others do not see as you see them? Visualization is like seeing, believing, and acting on with your mental sight. Visualization is very important and should be practiced a great deal. When you are visualizing, you should be a in a quiet place, in a peaceful state of mind, and with no negative thoughts. Some would call this a meditation state of mind. You should try this technique once a day for about thirty minutes, and see what you can visualize.         

The proper mind set is a technique that must be mastered prior to finding your true success. This will be your foundation and will be the driving force to build your desired success.  The beginning of your success starts here, and the beginning of this success starts with the proper mindset and ultimately, positive thinking.

Taking Action:

 You must take action and apply the required efforts to achieve success. You can not possess success without applying the required efforts.

Taking action is motivating your-self to attempt a given task. In reality it does not matter if you succeed or fail during your attempts; but learning from your failures will eventually drive you to your success. 

You can have the right knowledge, the best business plan, the best methods to gain wealth, but if you do not provide the effort, nothing will ever get started or ever get accomplished. You must apply the required efforts to get any results that you seek. You must take action to see your progress, and you must apply the efforts to make your own success. No other person is going to build your success, except for You!

Perseverance:

Perseverance is another important topic you should understand. This entire topic can be summed up like this; Never, Never, Never give up until your goal is reached. No matter how long it takes, No matter how difficult the goal is to accomplish, you should never give up until your goal or task is accomplished. You should remain focused on your goal at all times, and push through the difficulties. If you persevere in every goal you attempt, you will be able to accomplish every goal you set.

Lack of perseverance has kept many from succeeding. If you can master perseverance, you can master any goal you attempt to accomplish. 

Does It Take Money to Make Money:

It does not take money to make money, but it does take more money to build wealth. I have been told many times that the number one reason for failure and not achieving success is due to the lack of money, or not having enough money to make the individual successful. Although that could be a valid excuse in some cases, I strongly disagree. I feel that anyone can build wealth if they are willing to make the sacrifices that are required to build their desired amount of wealth.

I’ll be the first person to tell you that going from zero to wealthy will seem impossible; however, going from zero to one dollar is much easier. Going from one dollar to two dollars is also easy. Going from ten dollars to twenty dollars is still easy. Going from one hundred dollars to two hundred dollars can still be easily accomplished. The idea, plan, and goal is to make your wealth slowly where it can grow consistently.

There are basically two ways you can use money where you’ll have the necessary money to build wealth;

The first way would be to build small amounts of money consistently until you have enough money to use as a tool, to build more money.

The second way would be utilizing other people’s money. This method is in the form of credit cards, bank loans, or borrowed money from other sources. Although this method will give you the needed funds, there are a few issues to consider. You will need to consider your credit situation and credit worthiness. This will determine the interest rate on your loans. You will also have to understand that this money or loan will need to be repaid at a given time, which is placed on the loan. The main topic to consider is if your plan or goal fails, you will be in serious financial trouble and ultimately in debt before making money. This situation can leave you in a much worst situation than you had before you received your loan. You just can not afford to lose money when borrowed money is on the line. This failure will set you back several years from accomplishing any financial goals that you set.

Word of the wise;

• Only use other people’s money when you know your plan will work and return a profit.

• Never use other people’s money if the debt will place a financial burden on your personal finances. 

• Know your interest rate and be willing to pay that amount.

• Do not get into debt. No business venture is worth putting your personal life into debt.

• Always make a profit in every business venture you operate, or get out before it consumes you.

The way to eliminate failures is to have a well thought out plan before any amount of money is spent on any type of business venture. You also have to be creative and take the necessary risks to achieve success and your desired amount of wealth. The risks you take do not have to be stupid. Your risk should be taken after your plan of action is completely determined. 

Article By:  LMO Enterprises (C)                                  Continue To Part Two

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