Millionaire success stories are a thing that lots of young budding entrepreneurs cherish. An extra word of motivation here, a bit of strategy there — we all love some inspiration from the achievers we aspire to be like. And while it is never wrong to want to use someone’s trajectory to design a blueprint for your own success, it becomes a problem to yourself when you’re building on a foundation of lies and misconception.
There are lots of millionaire success myths flying about. And if you’ve ever taken the time to research, you’d find out that none of those misconceptions were ever epitomised by the entrepreneurs they are attributed to. In fact, a lot of the questionable ‘Entrepreneur 101’ success myths you’ll come across are a figment of some success coach’s imagination of how things should be.
In this article, we’ll highlight a number of such beliefs that should scream ‘red flag’ to you — whenever you encounter them.
Also read: Become an aspirational brand with these
The millionaire success myths
Working for someone else keeps you poor
Okay. I get it! You have a strong belief that you should earn a certain amount of money, so you can transform your life as well as change your status in society. And to all intents and purposes, your current job(s) are keeping you away from your rich man dreams.
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That may be true if you find yourself exceeding targets for your employer, yet being underpaid. However, do you realize that more often than not, the networking and contacts you make while working for someone else turns out to be the thing you hang on to when your own business gets underway?
Working for someone else gives you the perfect opportunity to understudy the industry you intend being an impact stakeholder in.
Helping others would delay you from wealth
This is very common in many human societies, and unless your finances are being drained — putting you under so much strain — this is one of the worst millionaire success myths you can adopt into your life.
There’s nothing wrong with helping empower other people while you’re on the come up. Look at it this way — operating on a ‘pay it forward‘ principle — when you help others to stand on their feet, they in turn would have to do same for others. Eventually it takes a lot of pressure from you since the expectations of your family or community would no longer be focused on you alone.
Avoid people whose vision is smaller than yours
I once volunteered for a lady with a struggling business. She loved to philosophize about a lot of things — mostly religion and business. One of her favorite things she enjoyed repeating every now and then was that “do not walk with people whose vision is smaller than yours.” How wrong was she!
See, no matter how big your vision is — compared to that of the next man — if you’re smart enough, you’d identify where theirs fits into yours; and then you can appropriately tag team with them.
We all can’t have big dreams, frankly. And having small dreams does not mean that dreamer is not a visionary. Some people just want to have a nice string of businesses to sustain their children’s future while they live comfortably. Others want to make a lot of money so that they can own private jets and live the high life. Both dreamers are perfectly okay and none is necessarily smarter than the other.
The truth is that multi-millionaires and powerful people make friends in both high and low places. People they can reliably turn to when the time comes for them to play a role. Imagine being a millionaire who can’t get toilet paper because he has no connection with the toilet paper factory. You don’t want to be that guy.
This story was culled from an older article. To read further, please head here.