Become a Millionaire

Content

• Become a millionaire - this is how it works •Qualities you should bring with you •Opportunities for (future) entrepreneurs •Mistakes you can save •Business ideas that can be used to get rich •Instructions for would-be millionaires

You probably also dreamed of a rich life: free from all financial worries, with a beautiful house, a swimming pool and trips around the world. But must it remain a dream?

We'll show you what you can do to become almost (!) Sure rich. Whether that makes you happy is, of course, an entirely different question.

BECOME A MILLIONAIRE - THIS IS HOW IT WORKS

To find out how to become a millionaire, let's first look at those who are already part of the rich club. It seems that there are not so many ways to legally amass a fortune of several million or even billions of euros:

A large proportion of millionaires have inherited. This possibility is out of the question for most of us and therefore not worth further consideration.

A few played the lottery - with a chance of 1: 140 million, a path with an easy chance of success.

There remains one last method that made the vast majority of millionaires what they are: starting a business.

Wealth researcher Wolfgang Lauterbach was one of the first to scientifically examine the plight of Germany's wealthy. In his well-known study "Wealth and wealth in Germany" he concludes: "Anyone who has a company with more than ten employees increases their probability of being rich compared to a blue-collar worker by four times. ”(in the Spiegel interview of October 12, 2010).

So the first thing you can do to increase your chances of at least one million euros is: Develop a business idea and improve it until it becomes strong (You can find all about this in the "Business Ideas" section ). Then set up a smart business model - take a look at our success stories here - and start your independence.

QUALITIES YOU SHOULD BRING WITH YOU

However, it would be highly doubtful to say that you will inevitably be on your way to your first million. The truth is that most founders live a good life, but are less likely to get really rich. This requires a lot more than a good idea - including a bit of luck.

However, some typical characteristics and behaviors can be identified that many millionaires have in common and that apparently facilitate their rise in their exclusive society.

First of all, this would be patience and perseverance. You won't get rich overnight (unless you inherit or win the lottery). Most self-made millionaires have a long entrepreneurial career behind them - with setbacks and detours. But instead of being discouraged by failure, they learned from it and moved on.

Perseverance should in no way be confused with stubbornness. Most successful people are good at taking criticism and are open to factual arguments. This saves them from hanging on to dead ideas until bankruptcy is inevitable.

Rather, it means the willingness to stay on the ball and fight for your own beliefs. Many millionaires have one thing in common: after their first successes, they did not get complacent, but continued to work hard. They were not tempted to adjust their lifestyle to their income. Make it clear to yourself: if you really want to become a millionaire, it is much more productive to invest your money in your company, because status symbols will get you nowhere.

What else helps on the way to the top of society: a certain degree of extraversion (extraverted = outward-oriented, open, communicative), stress resistance and performance orientation.

OPPORTUNITIES FOR (FUTURE) ENTREPRENEURS

Looking at the bare numbers, Germany doesn't seem to offer bad prospects for getting rich with your own company. After all, it ranks third in the world in terms of the number of wealthy millionaires (behind the US and Japan). And the number continues to grow: since the turn of the millennium, the number of millionaires in Germany has roughly doubled to 1.365 million in 2017 (Capgemini: World Wealth Report 2017).

But what exactly are the factors that underlie this development and facilitate the rise to the top? We want to take a closer look below.

Most successful people accept criticism. This saves them from hanging on to dead ideas for too long.