HOW TO BECOME A MULTI-MILLIONAIRE IN 2021
By Lácedar Terry
Becoming a multi-millionaire in 2021 is not impossible to achieve if you set your mind to it.
Though it may seem far-fetched, it is more possible than not.
The combo word multi-millionaire might seem ambitious, but that is only because you see it at face value.
A lot of us when we’re setting financial goals, we tend to see our finances from a singular viewpoint.
But let’s break it down a little bit:
If you have 10 friends, and you could ask all ten of them to give you ₦500 every day for the next 365 days, and they all do, you would have made ₦1,825,000 in a year.
It means, you have to save ₦5000 a day to achieve your millionaire goal, and of course, you should have a personal job that can cater to other basic needs right?
Being a millionaire is not as ambitious if you break it down to bits.
Now, this breakdown above is just a principle, I’m not asking you to go get money every day from your friends, but we will apply the above principle as we go on.
Now we will begin to apply these principles by sharing these TEN SECRETS to becoming a multi-millionaire:
- ARBITRAGE: If you want to get results for your goals, you need to ask yourself just one question, what can you offer?
A lot of people shy away from this question and expect ₦500 to be handed over to them by 10 people every day. NO! That is not the case.
Arbitrage is a very important way of becoming a multi-millionaire this year. Another word for it is brokerage. It is the art of connecting those who need with those who have, and then make your cut from the price discrepancies.
I bet you, those ten friends have something they need, that they can’t seem to get on their own. Find out what they need and offer it to them for a profit, and you would be surprised how much more some of them would be willing to pay.
Real estate is a really good sector for brokerage to thrive if you actually know what you’re doing.
2. GO DIGITAL: Look around you, the whole world is going digital.
The 2019 lockdown has made it easy for the digital market to thrive and the best part is, it has come to stay.
Since the pandemic, companies and freelancers have found prosperity online by adopting seamless and more streamlined ways to get their products or service across to customers, without having to leave where they are.
I am sure you have one or two services you can render, that other people might need without the need to have you over.
Online jobs are cheaper to execute. Basically, all you need is the internet, your laptop, your skill, and your creativity. Kapish!
Master the use of the digital space for your benefit. Trust me, your DMs might just be your best market place.
3. GET SOME KNOWLEDGE: Personal development can never be over-emphasized. It is a key factor to becoming a multi-millionaire, and there are very easy ways to get it.
You need to be competitive; you need to expand your skillset so that you can be a better option for those who need the kind of services you offer.
The digital learning space has made it easy to acquire skills from anywhere you feel the skill you are looking for is better optimized, without having to leave your home.
Acquiring new knowledge is the right step in the right direction to making your millions.
4. BE BORDERLESS: In the world we now live in, borders are nothing. Unless of course, you are looking to start a political war🧐.
The internet is one of the most resourceful achievements man could ever be thankful for.
Sales are no longer limited to where you are, but how far you are willing to reach.
The ball is in your court now.
Leverage on digital advertisements. You can be guaranteed that a sponsored ad about what you do, would go even farther than traditional ads.
No one is saying that traditional ads are no longer reliable. In fact, they still play important roles in our businesses, but the potential of a digitally influenced reach cannot be held cheap.
They are cost-effective, and you have more control over your reach (because they are targeted).
Another advantage of digital ads is, they are easy to measure and adjust. If you don’t like the results, just change the approach.
5. BE PRUDENT: Capitalize on your relationships. Prudence is not just limited to your spending habits.
How you take advantage of the connections you have, shows how prudent you are and goes further to show if you will make it as a multi-millionaire.
Your friends are your assets, your connections are also assets, even your finances are your assets. Manage them prudently.
Be careful not to burn down bridges without a really defendable course.
Do away with all the “Imma cut everyone off” quotes, they can’t help you on this quest.
Not everyone is indeed worth keeping around you, but at the same time, be careful not to cut off resourceful people.
Present your human assets with mutual benefits. As long as you are their go-to person for providing solutions, you will be invaluable to them.
Use your assets prudently.
6. TAKE ACTION: “I’ll do it later” is not an action. Do it now! One very wonderful quote by Will Rogers is this… “Don’t wait to buy real estate, buy real estate and wait”.
This doesn’t only apply to real estate, but it cuts across all borders of investments. Investment opportunities don’t have a timeline, you take action the moment they come your way, and then, sit back and watch them yield.
You don’t need it to be all planned out at first, just start as soon as you can.
If you want to apply for that job, do it now! If you want to start that business, do it now!
Maybe you didn’t become a multi-millionaire last year because you kept checking to see if it’s safe to do this or that.
I am not saying jump into a bad investment, but the moment you have it carefully thought out, just do it.
7. COMPOUND YOUR INCOME: Okay, last year you put your money in savings, and then what?
What is your plan for your savings? What is your plan for your next salary?
Your savings or salary is called “The Seed”. You do not eat the seed, you plant it.
If all farmers ate their seeds, the world would go hungry.
You have worked so hard all your life and saved more and more, but you’re still not a multi-millionaire?
Something isn’t right. You need a change in plan
Begin to ask yourself, what am I doing with my savings and monthly income? Am I investing in the right instrument or am I spending it on things I don’t need?
The right answer to that question will determine the next step to take.
Compound your income by investing in instruments that cater for inflation, can bring cash flow on the immediate (to take care of some basic needs), and can give you capital appreciation.
Also, invest in a platform that can hedge against devaluation too, because devaluation has a very huge impact on how valuable your multimillion-naira portfolio can be.
Just to put it out there, One Sqm is one of such platforms. You can check them out, and thank me later.
8. UNDERSTAND MASS MARKETING: Whatever you do or sell, you must make sure it gets into as many hands as possible.
This will guarantee you a huge turnover on your sales.
You need to understand that it is a lot easier to get ₦500 from ten (10) people than it is to get ₦50,000 from five (5) people or even ₦100,000 from one (1) person.
Leverage on knowledge and the power of digital media to get the mass you need and sell what they can afford.
Nobody said you should sell cheap, but you can find a way to sell quality, that can be affordable for the large market.
9. GET ATTENTION: By all means, climb on a rooftop and scream your name every morning, it is allowed.
You need to be the one people are talking about everywhere and every time, and for good reasons too.
Put your business in people’s faces, let them see what you do when they wake up and before they go to bed.
Awareness is a multimillion-naira pathway. I’m sure if you ask some brand influencers around you, they would agree with me.
10. WHAT CAN YOU DO DIFFERENTLY: Like I said earlier, you need to first compete with your competitor, and win their customers on your side.
Everything is fair in business and war😎😏
But then, how are you different from their old providers?
What do they offer and how can you offer it as better and easier?
If you can’t answer these questions effectively, then you will lose them as quickly as they came.
If you want to learn more about these secrets, watch this👇🏾
If you need more advice on how to manage your finances or building a sustainable investment portfolio, call 08180000113.
