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7 Important Qualities of Self Made Millionaires

by Valentine Ogbamebor

 If you want to learn to cook, you study cooking. If you want to be a lawyer, you study law. If you want to be an engineer or an architect, you study engineering or architecture. And if you want to be financially successful, you study others who have become financially successful before you. You find out what they did, and you do the same things, over and over, until you get the same results.

Below are seven qualities of self-made millionaires that you can learn and could place you on the track to becoming one of them.

Honesty:

This is the number 1 quality of self-made millionaires, and it is one quality that can make you belong to their class. How? Because, when you have a reputation for honesty, people will find it easier to lend you money when you run out resources for your business. People will find it easy to refer you to people who can help you out of difficulties. People will find it easier and they would be more comfortable to do business with you.

Ask yourself this question; who would you rather do business with, a honest man who is plain and simple or a dishonest man who calls white blue? Honesty, they say, is the best policy.

Self-discipline:

Self-discipline is not only essential if you want to be a self-made millionaire but it is also vital if you want to live a meaningful life. Saving is one of cardinal pillars of financial success. A man who lacks discipline cannot save. A man who lacks discipline cannot plough back the profits of a business deal to get greater profit. An indiscipline man would always complain about how little he is earning, and blame it for his inability to save or invest.

Self-made millionaires are reputed for their dogged self-discipline. or a dishonest man who calls white blue?

Honesty, they say, is the best policy.

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Good interpersonal relationship:

 It is popularly said that your network equals your net worth. The number of people you know, and have good relationship with, will determine how successful you would be in business. This point is most visible in the Nigerian environment, whereby contracts and juicy appointments are distributed not purely on merits but according to ‘who know who’. Majority of the billionaires we have in Nigeria attained that status by virtue of their relationship with different governments in power. As it happens in Nigeria so it does in other parts of the world.

Majority of the billionaires we have in Nigeria attained that status by virtue of their relationship with different governments in power. As it happens in Nigeria so it does in other parts of the world.

Supportive spouse:

Socrates once said, “a happy man is always a productive man”, If you want to destabilize a man use his wife against him. If you want a man to fail, use his wife against him. This happens both ways, male and female.  Once a person cannot find joy in his home then it becomes difficult to achieve anything meaningful.

A supportive spouse would also give encouragement, verbal and material, they would give warnings about any possible pitfalls, the ones you may be too blind to see.

Wives of men like Sam Walton, Henry Ford, Jack Ma played very vital roles in the success that their husbands eventually became. And Mary Kay Ash’s husband, before he died, also contributed in no small measure to her company.

 Hard work:

 Self-made millionaires are known to be hard workers. They work hard and stay long hours. They know that there are no tricks around being successful, so instead of looking for short cuts, they exert their energies into what they believe in. Thomas Edison, the most prolific inventor of all time, was said to work so hard he sometimes forgot to eat. Jason Njoku of iRoko tv once worked so hard during a week he was on the brink of a breakdown.

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We do not advice that you do harm to yourself while trying to make wealth, because you need your health to enjoy your wealth, but you have to work if you want a financially successful life.

 Love for what they do:

It is almost intimidating when you are advised to work hard!, but there a trick to it; Love what you do. A famous billionaire and inventor once said, ‘I have never worked in my life, I just found what I love doing and I kept doing it with all my strength”.

Linda Ikeji confessed that she had blogged every single day for the past nine years, every single day!” the reason she was able to do that is because she loved what she was doing. Nine years is an awfully long time to be doing one particular thing, but she did it. You can only work as hard as is needed if you love what you do.

Ability to sell their product or service:

Have you ever found yourself buying a product or patronizing a service not because you really need it but because of the salesperson? We have all being there. According to Brian Tracy 10% of all self-made millionaires are salespeople. They would never have been able to achieve that feat if they didn’t have the special skill to successfully sell their products.

Ability to sell product is a skill, it is learnable. Most self-made millionaires have learnt that utter mostly important skill of selling their products, service or even themselves. The business world is becoming more and more competitive. There is hardly a business niches that is not occupied by three or four individuals, hence, to be successful, you have to learn how to sell.

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