Becoming a Self-Made Millionaire Requires Courage and Faith


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According to my Rich Habits research, self-made millionaires follow a process in pursuing an idea, opportunity, dream or big goal. Typically this is the process:

  1. Idea – This is the first stage in which an idea pops into your head or an opportunity presents itself. This could also be when you gain some clarity on a dream or major goal you’d like to pursue.
  2. Due Diligence – Read books and articles about the idea, opportunity, dream or goal. Then seek feedback from others who have some expertise or knowledge about the idea, opportunity, dream or goal. This stage typically takes the longest because it requires an investment of your time in gathering the necessary information that will help you make a decision on whether or not to take action. This is also the stage in which you evaluate your capability to pursue the idea, opportunity, dream or goal. Do you have the requisite expertise or knowledge? Do you have the skills? Do you have the time? Do you have the financial resources? If not, you obtain what you lack. This could take many months or even years.
  3. Decision – Once you have weighed all of the information you gathered, and acquired the knowledge, skills and financial resources you need in order to pursue the idea, opportunity, dream or goal, you decide to go for it.
  4. Action – Once you decide to pursue the idea, opportunity, dream or goal, action follows immediately.

Almost always, pursuing any idea, opportunity, dream or big goal involves risk. You will never have enough of what you need: time, money, knowledge, skills, etc. So, there is always some risk. You don’t know what you don’t know. So, pursuing success involves significant risk. 

One of the hallmarks of the self-made millionaires in my study was that once they made a decision to pursue something, they immediately took action. Action followed decision. They did not procrastinate. They tossed aside all of their doubts and worries and took action. 

Becoming a self-made millionaire requires courage and faith, since you will never have everything you need when you pursue success.

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Thomas C. Corley About Thomas C. Corley

Tom Corley is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, CFP, holds a master’s degree in taxation and is President of Cerefice and Company, a CPA firm in New Jersey.
Phone Number: 732-382-3800 Ext. 103.
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  1. Thank You!
    I enjoy reading your newsletters. Your topics got my mind spinning and rationalizing what I want and need to be in my career and personal life. I have forward all your daily wisdom to family and friends.

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