Five Misconceptions About Becoming a Millionaire
There are many misconceptions about generating wealth and becoming a millionaire entrepreneur. Among the myths:
Myth One: There is some sort of business opportunity advertised on infomercials or the Internet that will make you rich.
Fact: As soon as you see a Multi-Level Marketing, no money down, Internet riches or other scheme, you are already too late. The market is saturated, or the opportunity has run its course. To generate wealth, you need to get in on the ground floor. This means having a powerful network and knowing how to create deals and opportunities.
Myth Two: Millionaire entrepreneurs live lavish lifestyles.
Fact: Most millionaires are frugal, investing every last penny into their business and retirement. The people you see living lavish lifestyles are often deep in debt just waiting for bankruptcy.
Myth Three: Millionaires are highly educated and come from the best schools
Fact: Studies show that you don’t need an expensive education or pedigree to succeed in business. In fact, most founders of major companies often went to little known schools and community colleges, and many have no degree at all.
Myth Four: It takes money to make money.
Fact: The best business opportunities are low risk, high return – and thanks to new technologies, there are many of these opportunities available today. Also, a good idea can receive funding from others. When you see people mortgaging their home and maxing out their credit cards to create a company, you can bet that they are unlikely to succeed.
Myth Five: Millionaires know the right people.
Fact: Anyone can build a high-powered network, if you know how to communicate your value to others and help them succeed.
Andrew Neitlich is the founder of www.millionaireprofitnetwork.com, an innovative program offering legitimate education about what it really takes to generate wealth.
Andrew Neitlich
For more truths about becoming a millionaire entrepreneur, visit www.millionaireprofitnetwork.com
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