In my Rich Habits Study, there were four types of self-made millionaires: Saver-Investors, Big Company Climbers, Virtuosos & Dreamer-Entrepreneurs.
The Dreamer-Entrepreneurs were by far the wealthiest, at an average net liquid wealth of $7.4 million. The Dreamer-Entrepreneurs were also the fastest path to wealth – it took them an average of twelve years to accumulate that $7.4 million.
So clearly, for those who want to be very wealthy, the Dreamer-Entrepreneur path is the way to go, right?
Right. That is if you have what it takes to be a Dreamer-Entrepreneur.
Do you think you have what it takes to be a Dreamer-Entrepreneur?
Before you answer, indulge me by answering these questions:
- Are you willing to work 60 – 90 hours per week for at least two years?
- If you’re married, are you OK with your spouse raising your children as if they were a single parent, for at least two years?
- Are you willing to ignore your friends and extended family for at least two years?
- Are you willing to invest all of your savings into your Dream?
- If you own a home, are you willing to invest all of the equity in your house into your Dream?
- Are you willing to invest all of your retirement savings into your Dream?
- Are you willing to go into significant debt, for your Dream?
- Are you able to go without any income for at least one to two years?
- Are you able to handle enormous financial stress?
- Are you able to control your emotions, when everything is going wrong?
- If you’re married, do you have an incredibly strong relationship with your spouse?
- If you’re married, do you ever fight with your spouse over money issues?
- If you’re married, would your spouse be 100% behind you pursuing your Dream?
- Do you have a very high tolerance for risk?
- Are you outgoing?
- Do you have a positive mental outlook?
- Are you an incurable optimist?
- Do you have a large network of individuals who you can lean on, while pursuing your Dream?
- Have you ever had to make a payroll before?
- Have you ever pursued a Dream before?
- Are you healthy?
- Do you exercise every day?
- Do you have a healthy diet?
- Are you a sound sleeper?
- Are you a sound sleeper when you are under any type of stress?
- If you are married, would you accept getting a divorce, rather than quitting on your Dream?
- Are you willing to do whatever it takes and never quit on your Dream?
Those who are true hard-core Entrepreneurs, without hesitation, will answer YES to all of these question and NO to question #12.
Obviously, you don’t need to be a hard-core Entrepreneur to be a successful Entrepreneur, but it helps.
The Entrepreneur path is the hardest path to wealth. It is also the most financially rewarding path to wealth. But it requires enormous sacrifice.
Not everyone is willing to make those sacrifices. Not everyone is cut out to be an Entrepreneur.
When you know yourself, you make better decisions. My job, through my Rich Habits research, is to help you find the right path to building wealth – one you are best suited for.