- No Secrets to Becoming a Millionaire: There are no shortcuts, gimmicks or secrets to becoming a millionaire; luck is not a factor. It requires understanding and following certain principles, and working hard towards them. Most people are not millionaires because they do not follow these principles.
- Millionaires are In Control of Their Own Mind: Millionaires are in control of their own minds, and do not rely on luck for wealth and success. They are serious about their wealth and do not believe in getting rich through flukes or luck.
- Radical Self-Growth Needed for Millionaire Status: To become a millionaire, one must undergo radical self-growth. Personal growth is at the core of this process, as your current psychology and limiting beliefs will prevent becoming a millionaire. Millionaires have different mindsets, habits, and practices compared to average people.
- No External Factors Determines Millionaire Status: External factors like the economy, lack of money, lack of education, or social status does not determine whether you will become a millionaire or not. All limitations and excuses must be abandoned to achieve the millionaire status.
- Full Responsibility for All Aspects of Life: Achieving millionaire status requires taking full responsibility for all aspects of life, especially money, career, and business. This includes taking responsibility for negative thoughts, neurotic behaviors, and emotional states like anger and fear.
- Work on Personal Growth: Working hard on personal growth, and not just your job or career, is likely to result in becoming a millionaire. Most careers can yield millions of dollars if approached with the right mindset. Therefore, working on your job without the necessary mindset adjustment will not make you a millionaire. People need to work harder on themselves and align their mindset and attitude to become a millionaire.
- Mindset as the Primary Factor in Becoming a Millionaire: According to Leo, becoming a millionaire is largely about the mindset. This encompasses setting mental targets for income level, understanding successful financial behaviors, and working hard to change limiting beliefs which can inhibit your financial progress.
- Personal Growth and Lifelong Learning: Millionaires have a keen focus on self-improvement and lifelong learning, understanding that these practices are key in increasing their capacity to create value in the world.
- Having Healthy Beliefs about Money: Millionaires have empowering beliefs about money and success. Holding onto negative belief systems about wealth, such as thinking businesses or the rich are inherently nefarious, can hinder one's financial growth.
- Taking Responsibility and Setting a Purpose beyond Money: Becoming a millionaire requires accepting full responsibility for one's financial circumstances along with setting a purpose that transcends just accruing wealth. Many successful entrepreneurs are motivated by their ability to exert a positive influence on the world.
- Working Hard Internally and Externally: To become a millionaire, considerable effort must be invested not just in external business activities, but also in internal growth. This involves altering beliefs and adopting new behavioral patterns to align with the mindset of a successful entrepreneur.
- Independent Thinking: Millionaires must be independent thinkers, not confined by societal norms, market trends, or the opinions of others. Success often involves challenging the status quo, highlighting the importance of critical thinking and being a bit of a maverick.
- Taking the Route of Self-Employment: A regular nine-to-five job rarely enables one to reach millionaire status. Becoming self-employed or starting a business presents a more likely pathway to financial success. Many millionaires have become so by starting businesses or building personal brands as artists, musicians, authors, etc.
- Creating High Value in the Marketplace: Millionaires strive to generate high value in the marketplace. The emphasis is on creating a high-impact product or service that appeals to numerous people.
- One-Person Business Model: Nowadays, businesses can consist of a single person who handles most operations while outsourcing certain tasks. For example, athletes and celebrities have turned their life into a business.
- High-Earning Potential: Celebrities can often earn more than traditions CEOs due to high demand and the unique value they bring.
- Need for Self-Employment: Staying in a nine-to-five job is unlikely to lead to significant wealth. Many may fear leaving the stability of a job but ultimately, the potential rewards of self-employment can be far higher.
- Understanding Value: Self-employment forces entrepreneurs to understand the value they are providing to customers. They must also manage issues like legal challenges, marketing, logistics, and more.
- Challenges of Transition to Self-Employment: Shifting from a stable nine-to-five career to self-employment is challenging, as one must assume a variety of responsibilities that were once handled by others.
- High Value Equals High Return: The financial return from a product, service, etc., is proportional to the value it offers. Industries that have a broader influence and are highly admired yield higher returns.
- Emphasis on Creating Value: Millionaires consistently focus on creating more value for their customer base and the world. This could be through products, services, or creative forms such as writing or performing.
- No Easy Shortcuts to Wealth: There's no one-off investment or stroke of luck that will reliably yield millionaire status. Commitment to personal growth, adopting new mindsets, and transitioning into business are imperative.
- Resources for Growth: Actualized.org's newsletter offers resources and mindsets for mastering personal psychology and achieving dreams.
- Persistence is Key: Regardless of the path taken, constant growth, pushing boundaries, and increasing personal responsibility are important to generate substantial value and wealth.