The majority of working professionals worldwide believe that they’re better off sticking with their 9-5 job instead of ditching it to become self-employed. Most individuals prefer the security cushion of a regular job to venture into uncharted territory in an attempt to become a millionaire.
For most of us, giving up secured employment (with a paycheck to take home every month) to focus on establishing a startup is a big gamble. But if you research the lives of billionaires and millionaires, you’ll discover a common thread connecting them. Unlike most other people, they did not bank on their routine jobs to realize their dream of turning into millionaires or billionaires.
On the contrary, they started from scratch, setting up their business in a nondescript garage or shed, and slowly worked their way up to achieve success. Believe it or not, you do not need a ton of cash, but rather a millionaire mindset to become one. However, laying the foundations for a startup is certainly easier said than done. We broke down 20 tips that will set you up for realizing your vision to become a millionaire via Business Insider right here.
20. Assess Your Financial Position
If you want to grow and develop, you first need to assess your present financial standing. That includes drafting a concrete strategy on what your future (financial) goals would be and how you wish to accomplish them. You’d be much better off making notes in your journal rather than making a mental note.
Your brain has to store and process near-infinite amounts of data and information continuously. So there’s always the likelihood of you failing to recollect the original blueprint you had in mind.
If you pen down your business objectives, you’ll be able to cross-check the same period to decide if you need to make any changes or updates. Once you put everything on paper, you could be able to figure out your earnings and expenses. Accordingly, you will be able to revise and update your scheme that will go a long way in preparing your next course of action.