Get Rich

Seven Secrets of Self-
Made Multimillionaires

First, understand
that you no longer
want to be just a
millionaire. You
want to become a
multimillionaire.
While you may
think a million
dollars will give
you financial
security, it will not.
Given the volatility
in economies,
governments and
financial markets
around the world,
it’s no longer safe
to assume a
million dollars will
provide you and
your family with
true security. In
fact, a Fidelity
Investments’ study
of millionaires last
year found that 42
percent of them
don’t feel wealthy
and they would
need $7.5 million
of investable
assets to start
feeling rich.
This isn’t a how-
to on the
accumulation of
wealth from a
lifetime of saving
and pinching
pennies. This is
about generating
multimillion-dollar
wealth and
enjoying it during
the creation
process. To get
started, consider
these seven
secrets of
multimillionaires.

No. 1: Decide to
Be a
Multimillionaire —
You first have to
decide you want to
be a self-made
millionaire. I went
from nothing—no
money, just ideas
and a lot of hard
work—to create a
net worth that
probably cannot
be destroyed in my
lifetime. The first
step was making
a decision and
setting a target.
Every day for
years, I wrote
down this
statement: “I am
worth over
$100,000,000!”

No. 2: Get Rid of
Poverty Thinking
— There’s no
shortage of money
on planet Earth,
only a shortage of
people who think
correctly about it.
To become a
millionaire from
scratch, you must
end the poverty
thinking. I know
because I had to. I
was raised by a
single mother who
did everything
possible to put
three boys through
school and make
ends meets. Many
of the lessons she
taught me
encouraged a
sense of scarcity
and fear: “Eat all
your food; there
are people
starving,” “Don’t
waste anything,”
“Money doesn’t
grow on trees.”
Real wealth and
abundance aren’t
created from such
thinking.

No. 3: Treat it Like
a Duty — Self-
made
multimillionaires
are motivated not
just by money, but
by a need for the
marketplace to
validate their
contributions.
While I have
always wanted
wealth, I was
driven more by my
need to contribute
consistent with my
potential.
Multimillionaires
don’t lower their
targets when
things get tough.
Rather, they raise
expectations for
themselves
because they see
the difference they
can make with
their families,
company,
community and
charities.

No. 4: Surround
Yourself with
Multimillionaires
— I have been
studying wealthy
people since I was
10 years old. I
read their stories
and see what they
went through.
These are my
mentors and
teachers who
inspire me. You
can’t learn how to
make money from
someone who
doesn’t have
much. Who says,
“Money won’t
make you happy”?
People without
money. Who says,
“All rich people are
greedy”? People
who aren’t rich.
Wealthy people
don’t talk like that.
You need to know
what people are
doing to create
wealth and follow
their example:
What do they
read? How do they
invest? What
drives them? How
do they stay
motivated and
excited?

No. 5: Work Like a
Millionaire — Rich
people treat time
differently. They
buy it, while poor
people sell it. The
wealthy know time
is more valuable
than money itself,
so they hire
people for things
they’re not good at
or aren’t a
productive use of
their time, such as
household chores.
But don’t kid
yourself that those
who hit it big don’t
work hard.
Financially
successful people
are consumed by
their hunt for
success and work
to the point that
they feel they are
winning and not
just working.

No. 6: Shift Focus
from Spending to
Investing — The
rich don’t spend
money; they
invest. They know
the U.S. tax laws
favor investing
over spending.
You buy a house
and can’t write it
off. The rich, in
contrast, buy an
apartment building
that produces
cash flow ,
appreciates and
offers write-offs
year after year.
You buy cars for
comfort and style.
The rich buy cars
for their company
that are deductible
because they are
used to produce
revenue.

No. 7: Create
Multiple Flows of
Income — The
really rich never
depend on one
flow of income but
instead create a
number of revenue
streams. My first
business had been
generating a
seven-figure
income for years
when I started
investing cash in
multifamily real
estate. Once my
real estate and my
consulting
business were
churning, I went
into a third
business
developing
software to help
retailers improve
the customer
experience.
Lastly, you may
be surprised to
learn that wealthy
people wish you
were wealthy, too.
It’s a mystery to
them why others
don’t get rich.
They know they
aren’t special and
that wealth is
available to
anyone who wants
to focus and
persist. Rich
people want
others to be rich
for two reasons:
first, so you can
buy their products
and services, and
second, because
they want to hang
out with other rich
people. Get rich —
it’s American.