How do you become a self-made millionaire?
I bet you've already checked on Google (am I right?). Today, I will give you my take on this topic, sharing some lessons I have learned throughout my journey to becoming a self-made female millionaire at 27.
But before we dive in, I have a confession to make. In preparation for this episode, I had to look up what self-made actually means (lol).
Self-made means you did it by yourself without your family's fortune: CHECK.
A millionaire is someone whose net worth is worth over 1 million: CHECK.
Right now, I'm 28 years old and able to name myself a self-made millionaire, but it wasn't always like that. Just 5 years ago, I was in a rut, broke, and overworked.
Since then, a lot has happened, and I want to let you know and show you that a massive change like this is possible. I'm no exception to the rule. I'm the living proof that you can do this, too!
Now, what triggered this evolution? How do you go from being broke, exhausted, and having a business that runs YOU instead of you running IT to being a self-made (female) millionaire at 27?
Let me tell you some of the steps that helped me evolve to where I am today.
#1 Believe in abundance over scarcity
Back when I first started, money was tight. In my eyes, money was the devil. But something changed when I began to look more into money management. I switched my mindset and self-talk around money (literally).
And you need to do the same. Think of it like this:
If I talk negatively about money, money will talk negatively about me.
If I talk in scarcity, then that what's going to come back around.
You need to reframe your mindset and self-talk and BELIEVE in abundance. Don't think of an action as something you have to do out of scarcity, and instead think of it as an abundant choice. This is the kind of thinking that's going to help you step up and step into abundance.
#2 Take full ownership
By stepping into abundance, you will also move from having a victim mindset to taking ownership. Ownership means you have choices, and choices lead to freedom!
In the past, I felt very victimized by my situation… almost like a kid sitting in the corner, waiting for other people to give me what I wanted. I let myself depend on other people.
It was upsetting to me. It made me feel sad and angry at the same time, and that's the moment I decided that I couldn't keep going like this. I decided I wasn't going to let my happiness depend on other people.
You need to remember this, too. Don't let other people run you or your emotions. Don't do this to yourself. Instead, take full ownership, choose to be happy, choose the life you want, and let your happiness be entirely dependent on YOU.
#3 Learn from the best
I've always been very vocal about the importance of investing in yourself and learning from the best. One of the reasons is that I've seen what it did to me, personally, and to my business.
When I say, ‘learn from the best', I also mean investing in the coach, course, or program that might prove you wrong. For instance, years back, I had the choice between two coaches: one was right down my alley, the other was going to challenge my beliefs, prove me wrong, and call out my bullshit.
I went with the latter, and this investment was absolutely amazing. Sure, I almost pooped my pants when investing in this coach (no shit), but I knew in my gut this was what I needed. Looking back, I wish I had also invested in a business coach sooner.
So, don't let your ego convince yourself otherwise if you're doubting about starting coaching. You need someone to hold you accountable and to support you if you want to build and live your best life.
#4 Build a support system
While you're at it, don't stop with a business coach. Keep building a support system around you, whether a mental coach, personal trainer or cleaning help.
Maybe you're a lone ranger like me, but that doesn't mean you can't ask for help. Do it! Include people in what you're doing, ask for the help you need, get paid support. Remember, it's all about taking ownership.
Honestly, I don't blame you for being scared to ask for help. Many of us are brought up in a society where we're taught to believe we have to do everything ourselves. That's bullshit.
Dare to ask for help. This is one of the most significant turning points for me in becoming a millionaire. Open your mouth, raise your hand. By opening yourself up to support, you're creating a space for even more abundance.
#5 Ignore the non-believers in your environment
When you start learning from the best and getting paid support to build a support system, there will be people who don't believe in you. IGNORE them.
The biggest shift from going to broke to millionaire was when I decided to go against the grain. Tune out those non-believers and listen to your intuition.
When you feel with your gut there's something you need to do to serve people, listen to it. And sometimes you will feel resistance, but when you get wildly uncomfortable about doing something, it's a sign you have to do it.
Maybe you're also interested in this: Money Management: My Biggest 4 Personal Finance Lessons
#6 Make faster decisions
This is one of my resolutions for this year: to make faster decisions.
Remember, you can make good decisions or make bad decisions, but either one will always bring you closer to what you want to achieve. If you make no decisions at all, one thing is for sure: nothing will happen.
Almost nothing is irreversible, so stop putting too much weight on decisions that will only take a minute.
#7 Produce more than you consume
I used to Google a lot and read more. There's no doubt all of my reading sessions helped me a lot in how my thinking process is set up right now.
Whenever I DO consume content, it's from a coach or a course I paid for.
By that, I'm not saying you shouldn't invest in books and time to keep up to date on Medium or wherever you consume content. You can do that, but you need to divide your efforts: spend 80% of your time producing content and 20% consuming. Taking ownership and action is key here. So, produce over consume and do that consistently.
#8 Be hyper-consistent at whatever you do
From the moment I started being active on Instagram YEARS AGO, there's probably only 1 day till now that I haven't been active.
60K+ followers didn't come overnight or by posting random inspirational quotes and mini-guides for 4 days only.
The same goes for my coaching programs. It has taken years to build up knowledge and perfect the programs (and we're still fine-tuning them every day).
Never stop improving.
Keep marketing yourself.
Keep building your pipeline with sales.
No matter what you do, be hyper-consistent because greatness comes from consistency.
#9 Live your best life(style)
To be the person you want to become, you need to start acting like that person.
Even when money was tight and time was scarce, I travelled to the US for a few weeks. I went to conferences and a bunch of other places that nearly drained my bank account. My point: live your best life right now, make money and accumulate wealth while doing so.
Honestly, I never responded well to the whole saying ‘work day and night and become a millionaire by 30'. I mean, what if you don't want to have a heart attack when you're 28?
If you live your best life, you will attract your best life.
If you behave like your best self, you will become your best self.
Remember: you create your own destiny.
#10 Be authentic
Being authentic is one of the things I attribute to being where I am today.
In the end, you don't need one-off clients. You need clients who will stay with you because of who you are. If you try to fit into the mold, you will end up not having the space you need to grow.
So be perfectly imperfectly and be authentic. We're all humans.
#11 Have a single-minded focus
When I started, I wanted my business to be filled with clients, but over the years, I have become clearer on one type of audience—one type of person I want to help create a freedom-based life.
With a single-minded focus like this, it will be so much easier for you to set targets for what you want to achieve, create the right kind of content, and not waste time on a bunch of things that are not serving your business anyway.
So, stay focused. It might take a while, but I promise it will be worth it.
#12 Believe in yourself, and especially in what you do
Self-doubt is something I have struggled with a lot, and despite crazy growth, my confidence goes up and down.
What typically helps when I hit a low and insecurities reach the surface, I remind myself to believe in what I do, and that's fuel enough to get me ahead, to keep going.
Try this yourself whenever you're filled with self-doubt. Believe in what you do.
#13 Kill your darlings
This is one of the things I keep bringing up because it's so damn important to 10x your revenue and ultimately scale to a 7-figure business.
You need to kill your darlings. What that meant for me was killing the Business Freedom Mastermind™ to create the Business Freedom Elevator™. It was difficult to make the switch, but I knew in my gut that this new program was what my audience and clients needed.
#14 Fail fast
If you feel something isn't working, if you test something and it isn't working, move on. Fail fast.
Sometimes, one of the best things is giving up, acknowledging it didn't work out, and focusing on the next thing. If the evidence and data show it won't work, let it go. But only then, don't let fear of failure trick you.
That's it. 14 lessons learned that brought me to where I am today….a self-made female millionaire. Remember, this can be you, too.
Don't ever doubt that you don't have it in you. YOU DO. Start believing!
Are you ready to take your business to the next level and live a freedom-based life? Make sure to download the 7-Figure Organization Guide to:
- Streamline your organization to 10x your growth.
- Create the departments and phases your company goes through on a day-to-day basis.
- Eliminate unnecessary communication and streamline your way of working.