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Last Updated on July 25, 2021 by Tyler Clark
5 Genuine Millionaire Habits
There were all kinds of millionaire habits I saw over the years but the ones below are my top 5.
I want to explain them but first, let’s cross reference some of the common millionaire habits in the general literature to get the ball rolling.
What are Some of the Common Millionaire Habits?
- Journaling. I avidly agree with journaling/note taking but didn’t see much of it. (let me know what you think in comments).
- Millionaires avoid Debt. Definitely did not see this. If anything, they’re experts at using Debt in business.
- They’re avid readers. Yes and no to this one. I agree with it, of course they have to be readers but, what were they reading?
- They utilize tax deductions. Fully agree because they have to. Go make a bunch of money–your accountant will become your new best friend.
- They seek help and advice. Absolutely. In my experience, millionaires are endless learners and information seekers. They often have mentors or sources of guidance.
My Millionaire Habits
I like all of the millionaire habits above. I would view all of them as positives whether I saw them or not. They all have their place.
Here are some of the main ones I witnessed while training.
Habit #1: They Do things Much Faster Than Us
This was one of the neatest habits I saw among my clients. It’s also the most important.
I like habits like this because they’re simple and straightforward. I love knowing what to do.
The millionaires were doers at high speed to say the least! They had endless stories of great businesses that were created beautifully and in short order.
That was often a typical week day for me. I was living inside a great business book and one of it’s biggest tips was: Move Fast.
I think they’d figured out the quickest way to learn if something was viable was to try it. I have many articles in cue about how they did this but for now, just understand that they were moving and grooving really fast on any new project.
They’d also set timelines that were way shorter than most people.
For example, If you were to think about starting a lawncare company, you might go buy a mower and try to get a customer or two for six months or a year.
- My clients would line up 50 customers,
- Figure out their needs and build a better company for them.
- They’d hire two or three employees and train them while getting in touch with more customers.
- Add more yard services and start developing that too.
If they weren’t sure about something, they’d probably talk with an expert or two and go from there. This could all take place within a month. There wasn’t this “build brick by brick” mentality and that’s what made them so much quicker at setting up a business.
Notice how they also didn’t cut a single blade of grass themselves?
It’s tough to be quick if you do everything yourself. If you want to be fast, you can’t build the company solely around yourself.
Habit #2: They’re Consistent
Consistent as can be. Know your millionaire. That’s definitely something I knew about them.
You know when you hear someone say: “I won’t let you down”. It’s the perfect kiss of death, they might as well say, “I probably will let you down”. On the other hand, when someone consistently delivers and makes the effort, you remember them. You depend on them, promote them and you know they actually won’t let you down.
The follow through among my clients was huge. Consistently good, dependable and on time. Consistently solid.
Plain and simple.
They all taught me a great deal in the consistency category and how important it was in life, not just in business.
The greatest product or service in the world is useless if it can’t be consistently delivered to you.
Habit #3: They’re Reductive
You know this is all a big time competition right?
My clients did and they were able to quickly categorize, organize and line everything up. This allowed them to deal with challenges promptly and continue moving forward. Probably a huge benefit if you’re running a company with lots going on.
If you can get it clear in your head quickly, you’re gonna be able to beat the next guy to the finish line. Make sense?
And getting the jest of something was enough to move forward. Minimal essential information and go. Don’t become a connoisseur, it’s not a fine bottle of wine, it’s business. We’ve got it, not let’s be on our way shall we?
I saw this in the weight room too. They took the least amount of time to try an exercise. This was one of the funniest things I picked up on while training them. They were always quick to give things a try. Get in there and figure it out. Truly a solid characteristic.
Habit #4: Don’t Sweat the Small Stuff
This wealthy habit leads in right off the coat tails of habit three.
They don’t sweat the small stuff that’s happening and they don’t sweat the small stuff that could happen. There credo may well have been: “We’ll cross that bridge when we get to it and if it’s broken, we’ll swim”.
That’s exactly how I feel the millionaires thought.
There wasn’t a lot of anxiety among them regarding little things that might happen. Now this could have been because they were confident in this arena. I’m a good skier but I’m not great at snowboarding. My worries are at much different levels in these two situations and thus I behave differently.
Regardless, this idea of handling things well was a trait for sure. The millionaires didn’t get bent out of shape really. There were times they were dealing with some pretty major stuff and their coping skills shined.
Being able to deal with things and not get too worked up is a really good money making habit to have.
Habit #5: Ability to Stay Focused
One of my clients used to say that he really valued the ability to stay focused on a given plan or strategy.
Ever notice how many of the really successful people in this world stick to their plan?
Most of his life, Tiger Woods has been playing Golf. We may be out there trying a host of other things whereas Tiger stays focused on Golf. Take a year, maybe take three or four years and check back and sure enough, Tiger will probably still be working on golf. He’s adamantly focused on his craft.
Whenever I hear someone talk about staying focused, I think of a great hiker fighting through a blizzard in the cold and the wind and still, they persevere. Sticking with it can get you to some really amazing destinations.
Find your focus and then do this:
My client went on to say he would re-check to make down the road to make sure he was still on track. He would do this every month or two. I love the idea of not being deterred and focusing and I also love the idea of self checking to guarantee the continued attack. Stay focused and check your focus, not a bad recipe for a killer millionaire habit.
So there You Go, 5 Millionaire Habits I Saw Training Millionaires.
Hopefully they’re habit forming.
Best of Wealth,
Tyler.
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