Thursday, February 9, 2012

How to Be a Millionaire by 30 - Millionaire Secret Revealed

Congratulations! You have set yourself a goal to achieve $1,000,000 by age 30. You know what? Having a clear financial goal already gives you a good head start compared to your peers. The next thing you must know is how to achieve your goal. So now I am going help you by revealing the most powerful millionaire secret. Once you understand it, you will realize that becoming a millionaire by age 30 is not as difficult as what many people think.

There is only one formula to the millionaire secret. Yes, just one but it is the most important principle that every wealth and abundance creator must know in order to succeed. If you are ready, here it is:

Income = Time x Value x Scalability

What the formula says is, your income depends on how much value you create, how much time you spend creating that value and how much you can scale up your success. Quite simple, isn't it? However, it is so powerful that anyone who applies it will see immediate increase in income. To show you how it works, we will use an example.

How it Works

For the moment, let's just pretend that you want to earn some extra income by giving one-to-one tuition. You are willing to teach for 2 hours every day at $20 per hour. In a month of 30 days, you will have an additional income of $1,200.

Time

You want to be a millionaire by 30. You know that in order to increase your income you have to take more tuition jobs. So instead of teaching only 2 hours per day, you teach 4 hours everyday. Your income increases accordingly to $2,400.

This is what most people will do to increase their income. They take on more jobs and work longer hours. However, there is a limit to how far this can go. Everybody has only 24 hours a day.

Value

Value is what separates the rich from the poor. When you become an expert in an area, your value increases, so will your income. Let's go back to our tuition teacher example.

Say, one day you discover a brilliant method that can help your students to score straight As in their exams. Your students and their parents are more than willing to pay you $50 per hour for your tuition session. By increasing your value, your extra income jumped to $6,000 per month. Rejoice!

Scalability

Scalability is the most important factor that will turbo-charge your income. It is also what separates the rich from the super-rich. Using the same example, instead of one-to-one session, you decide to teach in small groups. If there are 5 students in a group, your monthly income will explode to $30,000. This is what many people are earning in one entire year!

Can you imagine what if the tuition teacher increases the class size to 10, or even 20, students? Let me do the maths for you. With 20 students, each paying you $50 per hour and you work 4 hours every day for 30 days in a month... your income is a hefty $120,000 per month! You go figure out how much that will be for one year.

In fact, this formula does not only apply to tuition teachers. You can use it in any job, any career and any business. Just spend a minute to think how you can apply it in your life now. Can you begin to see how becoming a millionaire by 30 is going to be a reality for you?

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