In the western world a million simply isn’t enough – is it?! Over the years I have helped create many millionaires and a few of them went on to become multi millionaires. They all used their own formulas, but all had traits in common.
How to become a multi millionaire by replication and organic growth. People often start a business and over a period of time build it into a substantial size company that be either create huge profits or be sold to an acquiring group or floated on a stock exchange. Once you have discovered your own success formula you need to keep repeating it!
How to become a multi millionaire by acquisition. Many business people have created fortunes by consolidating fragmented cottage industries. I created a mini empire by acquiring lots of motorcycle shops. Can you think of an industry where you would like to start buying out other businesses?
How to become a multi millionaire by franchising. If you have a business that is making a profit some time you can use that model as a pilot and get other people (franchisees) to buy the marketing and sales rights to emulate what you are doing. As well as paying an upfront fee you can also expect to attract royalties that are paid to you on all sales.
How to become a multi millionaire by visualization. If you can see it you can be it! If you see it you can have it! If you can see it you can own it! Visualization is one of the most powerful tools around if you’re serious about becoming a multi millionaire.
How to become a multi millionaire by strategic investing. If have see numerous people become millionaires by either investing in property and rent them out and over period building a huge portfolio. I have seen others do the same on the stock markets and traded themselves into a fortune. Horse for courses! Where’s your bent?
How to become a multi millionaire by building equity in your company. As you building a business it pays to look at what you are going to sell it for and to whom, every step of the way. By doing this you can groom the business for a successful trade sale. Most people don’t! On retirement thousands of business owners just close the doors and walk away – usually penniless!
How to become a multi millionaire by acquiring lots of share options in lot of companies. You can do this by joining early stage companies and adding your expertise. You can raise the finance for them and get shares as part of the success fee. Or you can buy a big portfolio of cheap shares in start-up and wait for them to IPO.
How to become a multi millionaire by developing your mind power. Set goals and achieve goals, visualize and increase your mind power by setting up a mastermind group.