As best-selling authors, successful entrepreneurs and leading international experts converge in Dubai for the Millionaire Summit, November 19 to 21, we ask one millionaire to share their top tips on how to make the mega-bucks.
Who wants to be a millionaire? Who doesn’t, really? Millionaire entrepreneurs employ specific strategies to create wealth. Here Oksana Tashakova, founder of From Employee To Entrepreneur and Wealth Dynamics Unlimited, and whose credentials include building a US$2.5 million real estate business at the age of 26, reveals her top 10 tips on how to become a millionaire in the UAE.
Some people have fantasies of success; others set goals without real vision. It takes both. Around 55 per cent of millionaires dream big and then set specific goals to make those dreams come true.
Know Your Strengths
Millionaires figure out what they’re really good at and then figure out how to leverage their strengths for maximum gains. What are your natural talents?
Live Your Values
Millionaires don’t just crave wealth. They become successful because they build their lives, and their work, around their core values. This is what attracts others to them.
Do Your Research
Most people don’t create money-making machines because they do only basic research. Dig deep into your industry, learn about competitors, find out who is buying what and why.
Create Your Niche
Competing with others is a losing game. Be the only fish in the pond you build. Don’t pick a niche that already exists: create one based on you and your brand, your values and your ideas.
Build Your Brand
Your personal brand is what your business brand is drawn from. You are the heart and soul of your business and it is you that people are drawn to, not just your product or service. Discover and develop your personal brand in order to create the best marketing strategies.
Find Your Customers
If you try to be everything to everyone, you’ll end up being nothing to no one. Figure out who will want just you; figure out where you’ll find them; and determine how they prefer to be reached.
Offer Real Value
Again, making money is a result of living with passion and purpose — not the driving force. Figure out how you can help others to succeed and you will, too.
You, and your business, aren’t a one-shot deal. Your business model must have analysis, innovation and evolution built into it and a developed personal brand offers you countless opportunities for new ways to grow.
Multiply Wealth Not Work
Millionaire entrepreneurs know how to work smarter instead of harder. Sixty-five per cent of millionaires have three or more income streams. Don’t put all of your eggs in one basket: diversify, partner up, make your money work for you rather than you working for it.