7 personality traits of self made millionaires

By M.Farouk Radwan, MSc.

Yes i did it

In 2005 i wrote a plan to become a millionaire and by 2010 i made my first million (in Egyptian pounds) then in 2013 my net worth jumped to 1 million dollars.

The reason i started with such an introduction is that while it's totally Ok to get advice from someone who hasn't done it yet still its much better to hear the advice of someone who has already done it. (see also Do you practice what you preach)

This is not the type of article where i copy advice from others or share my thoughts about something but its a one where i am telling what i have been through, what i lived and what actually worked for me.

7 personality traits of self made millionaires

  • 1) A strong belief that you are going to make it But why? simply because the setbacks you are going to face are going to be numerous unless you are very lucky. If you didn't have a solid faith in yourself or your plan then you are very likely to give up
  • 2) Hating peanuts: Don't get me a wrong, if you have an idea of a business that can generate 1000 dollars a month that's still awesome but since your time is limited you need to think big. If your business generates 1000 dollars a month then you need 100 years to make your first million. In order to become a millionaire you need to only think about ideas that have unlimited potential.
  • 3) Inhuman perseverance: Each time i mention the number of failures i have been through in an article i say a different number and the reason is that i failed so many times that i can't remember the exact number. What i am 100% sure of is that i tried to start more than 20 different businesses and 90% of them failed. In other words if you are serious about becoming a millionaire then you need to embrace failure and know how to stand up each time you fall
  • 4) Extreme dissatisfaction with their progress in life: Do you know what is more powerful than positive motivation? Its negative motivation. If you hate the fact that you don't have enough money and if you are extremely dissatisfied with your financial situation then this energy can motivate you to do miracles if you pointed it in the right direction
  • 5) Knowing the truth about people: If everyone puts you down then there is one possibility of two, the first is that you are wrong and the second is that everyone who is putting you down is wrong. Most people lack persistence, have false beliefs about life, have no faith in themselves, believe in luck and are too helpless to believe in themselves and as a result they will not believe in you unless they see results. When you understand this simple fact nobody will be able to put you down. After all if all people who put you down were really smarter than you then they would have been all successful, right?
  • 6) Knowing how to swim against the current: This point is an extension to the previous point. In my book From 0 to 1 million dollars i explained how people aggressively try to stop any person who attempts to do things differently. People are too scared to be left out and as a result they try to pull each one who attempts to escape back to the herd. In other words if you are serious about being a millionaire then you must prepare yourself to swim against the current
  • 7) Courage, a lot of courage: Its much easier to claim that you are unlucky or that you would have succeeded if you lived somewhere else than to admit that you are in control and responsible for your fate. Courage is not just about facing your fears but it's also about admitting the truth and not creating lies that can help you go on without blaming yourself (see Self deception psychology)

How is the journey like?

When i was still starting my journey one thing troubled me a lot. Even though there were amazing success stories everywhere still almost all of them lacked the needed details that could encourage me. For example i knew that Steve jobs bounced back after he was kicked out from his own company but i never knew how he spent his desperate or sad nights.

And this is why i wrote my book From 0 to 1 million dollars. Even though there are many success stories that are far impressive than mine i am still sure that you won't find much inspiration as much as you will find it in a very detailed story about someone who failed so many times before he made it.

This book will show you what to expect, prepare you psychologically for the setbacks you might face and give you the best strategy you should follow until you make it. You can also get it on amazon in paperback format.

2knowmyself is not a complicated medical website nor a boring online encyclopedia but rather a place where you will find simple, to the point and effective information that is backed by psychology and presented in a simple way that you can understand and apply. If you think that this is some kind of marketing hype then see what other visitors say about 2knowmyself.

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