7 Steps That Can Help You Make Your First Million
- Olamide
- February 6, 2020
- Living
- 7 Steps That Can Lead To Making Your First Million, How To Make Your First Million, How to make your first million in Nigeria, Steps On How To Make Your First Million, Steps On How To Make Your First Million |FabWoman
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Money may not be everything, but the things it could afford to make certain things so much easier.
While they can’t afford true love, kindness, passion, and wisdom, certain processes become much more efficient.
A million seems like a huge amount that would take years to have but there are ways you can make a million easily.
ALSO READ: These 9 Methods Would Help You Spend Less And Save More
Since you believe you can achieve anything, here are 7 steps that would guide you on how to make your first million.
1.Start Planning And Start Doing
The first step after a goal has been set is like the most challenging step to take. If you want to get ahead, you should know not only where to go but also when you are going to perform your first move. Planning alone won’t make you succeed. Too much preparation won’t get your things done. So start doing and remain focused on the goal you’ve set.
For example, if you want to earn more money at your current job, you can work hard to earn a right to seek a promotion at work or find a company that would pay you more.
The point is you have to plan and take visible steps towards making that plan a reality.
2.Define Your Priorities
It’s not enough to just be busy, give your priorities to activities that would push you towards making your first million. You have to be sincere with yourself when setting those priorities. Do you have enough savings? What do you need to cut your spending on? How relevant are the things you spend your money on? and more.
3.Track Your Gain And Loss
If you’re an entrepreneur or you work for an organization, you should be able to track your inflow and outflow of cash in a week or month. Tracking your gains and losses means monitoring your past activities to come up with a conclusion regarding your progress. Based on your conclusion, you can decide the next step to take.
4.Spend Your Money On Investment
Investment is one sure way to multiply, keep and safeguard your money. Invest in assets or properties and avoid too many liabilities. Investment is like watching your plants grow. How much you keep matters more than how much you spend. Make saving a habit. Save while you can.
5.Expand Your Knowledge/Skills
In making more money, you have to increase your knowledge and skills. There are several exciting ways to improve your knowledge and perspective about what’s new in your field, it’s endless.
It is important you add to your skill so you don’t get stuck to one thing. Have the courage to push that goal, you have to keep moving, making progress and you also have to get deep.
6. Make The Most Out Of What You Have
Instead of focusing on what you lack or what you think you should have, use your energy on what you have and make the most of it. If it’s just that job you have, for now, make use of your salary wisely. Spend your time and cash wisely.
7. Be Patient
Like the popular saying, Rome is not built in a day which means it takes quite a number of steps to get to your goal. No successful person will think he can make tons of money overnight.
Many have found themselves in debt because of too much living in the now. While there are many people as well who really get their patience paid off. Patience works for most people. Being patient doesn’t mean waiting while doing nothing. Remember: no aspiring millionaire is a couch potato.
