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These common mistakes prevent you from becoming a millionairehttps://www.businessinsider.in/investing/these-common-mistakes-prevent-you-from-becoming-a-millionaire/slidelist/55650735.cms2016-11-27T17:31:37+05:30

These common mistakes prevent you from becoming a millionaire

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Nov 27, 2016, 17:31 IST

Creativity is the crux

Creativity is the crux — Author James Altucher cautioned people on Quora that not everyone you see on streets would become a millionaire. It’s just a handful of them. Just like putting a pause on your workout habit would make you lose shape, lacking creativity would affect your success.

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They are hardcore determined

They are hardcore determined — According to Quora user Lukas Schwekendiek, perseverance and determination are basic ingredients to building wealth. "It is not as simple as to say that they do not want it bad enough, or that they aren't willing to work hard for it. Most of it boils down to the internal struggle," he explains. "Becoming a millionaire isn't about collecting a million dollars from some place or through hard work. Becoming a millionaire means you go on a journey to change yourself into a person that can handle a million dollars."

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Money isn’t the only aim of life

Money isn’t the only aim of life — According to Quora user Selvaraj Mudali, if money is your only goal in business, it will become difficult to develop a clear direction for your company.
He explains that there's two kinds of people: those who focus on solely on doing whatever makes them money and those who focus on building products and companies that impact the world. The second group "love[s] what they make and they see making money as a way to do even more of what they love."

Evaluating how much road you travelled

Evaluating how much road you travelled — Unless you track yourself you won’t be able to know if you are nearing your goal at all. Good students of the class not only studies throughout the year, they also find out how much of syllabus have been completed. The same equation applies to you.

Millionaires keep a check of everything.

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Having a routine

Having a routine — Humans have a limited amount of mental energy to use each day. Every time you decide something, the energy level depletes. And yes the same applies to small decisions like what drink to order or which tie to wear to the conference. There’s a reason why people who are ‘regulars’ are so successful.

Blaming oneself

Blaming oneself — You are the only one who can make you a millionaire. Just like you would celebrate your victory and credit you for achieving success, your failures should have one credit – that’s you yourself.

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Mingling with the right kind of people

Mingling with the right kind of people — Just like to be successful, you need to stop mingling with people who failed and shows no sign of progression, to be a millionaire you need to be in the company of people who spend money wisely. Even if they aren’t millionaire, at least, they should be able to manage their money well.

They don't try to please everyone

They don't try to please everyone — Quora user Saul Kropman writes, "Some people won't like you, they won't believe in your vision or they won't follow you in the direction you believe.”
"They might be great people but they're not right for you and you shouldn't worry about them."
Create your own set of tasks for each day and stick to that.

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Ideas need to be acted upon

Ideas need to be acted upon — According to Quora user Bruce Cross, millionaires do not sit around and watch others advance in life. Millionaires do take action to help them reach their goals. "Ideas are worthless until you do something with them," Cuban added.

They stay out of their comfort zone

They stay out of their comfort zone — Now just after creating a routine for you, remember not to get too habituated to your comfort zone. Settling into a comfortable life could drain you of the drive to hustle and build wealth.

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