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Your
Odds of Becoming a Millionaire
By Peter Nguyen - Mar 8, 2008
Who wants to be a millionaire? Well, the answer is pretty much "everybody"!
The real question seems to be, "Who will become a millionaire?"
Let's check the facts. According to studies conducted by Newsweek magazine, a small business owner has a 1 in a 1,000 chance of becoming a millionaire. This compares to 1 in 10,000,000 for people who buy lottery tickets, and 1 in 1,000,000 for people who inherit money from a deceased parent.
Here's some good news: as a small business owner, you can actually take steps in order to proactively increase the odds of your becoming a millionaire.
Of course, becoming wealthy is rarely the goal of truly passionate entrepreneurs. More often than not, they want to make a difference in people's lives while focusing on an activity that they are passionate about.
However, as one novelist cleverly put it, "money is the sixth sense that allows a better use of the other five."
I would add that mind is the 7th sense that allows a better use of the sixth sense (money). Indeed, the mind can turn money (yours or other people's) into capital -- that is, money working for you.
The key to success in business is to learn to manage your mind.
In other words, if your mind is ordered and you use appropriate tools to maintain correct strategic thinking, your small business will inevitably flourish.
This is indeed what makes business so powerful and also strangely beautiful: the fact that it is completely predictable.
The main job of a small business owner, therefore, is to continually strive to predict, explain and control what he is thinking. To the extent that he succeeds, his business will run like a well-oiled machine.
However, to get to a point where your mind can think systematically and strategically about your business, you will need to train yourself.
Business, in a way, is not that different from any well-known martial art like karate or aikido. There are a few basic principles, but once you thoroughly understand these principles, it's all about practiced execution.
In this section, we will provide you with knowledge, tools and resources so you can train yourself in order to become a business "black belt", so to speak. You will learn to effectively plan and manage your small business, whether it's a professional services firm, a retail outlet or an Internet business.
You will also be able to ask questions and we will offer answers in future articles.
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