Five lessons to learn from self-made millionaires

I'm a millionaire. Go on…say it out loud to yourself. Feels good, doesn't it? Most people worship the millionaire status even if they aren't money-oriented; there is still an attraction to being one. But it's worth understanding the notion of what being a millionaire is actually like, before embarking upon a journey towards that life.

Daniel Mangena, an author, radio host, and international speaker, said by mid-twenties, I had already built and lost two multi-million dollar fortunes. Things got very bleak and very dark for me at one stage.

Suffice it to say, I've been through the mill and come out the other side. But, I have since rebuilt my fortunes on much sturdier ground. I am a millionaire, but I have achieved that as a consequence rather than an aim.

These are the five lessons learned from self-made millionaires.

1. Having a million dollars in the bank doesn't automatically make you an abundant person

This is a huge rule for many people. A million dollars is a line in the sand. It's a rubicon to cross, and on the other side lies happiness and stability, right?

The problem with this approach is it doesn't give any thought to your character with that money. If you don't work on yourself, having a million dollars will not magically change your charisma, character traits and personality.

Millionaires can be just as stingy with their finances as the rest of us. So if you're attracted to the freedom and joy that a million dollars would bring you, make that your aim. Not the money.

2. Money is not the root of all evil

Money is not going to solve you. You have to solve you. But a million dollars will also not turn you into some mustache-twirling, evil genius.

Our western society has latched onto the belief that a millionaire is a modern-day boogeyman. But, at the same time, our society also worships millionaires.

Money itself has no moral compass. It is merely a facilitator. It will amplify who you are, so I suggest you get that in check first.

3. Time is more valuable than money

This may sound like a tone-deaf proposition if you're someone with a lot of stress around money because you don't have enough or have to work hard to obtain it.

Ask any millionaire what they pay the most for personally, and you'll probably find it a time-saving good or service.

Mangena says: Personally: I pay for first-class travel. Yes, because I like the luxurious nature of it, but more than that, the ability to skip queues and get more work done on a flight saves me a tremendous amount of time.

He added: I have a maid and a nanny and pay others to help run my day-to-day operations. This allows me to operate efficiently and stops me from taking my time with administrative tasks.

4. Find a mentor

This cannot be overstated. To reiterate the last point: your time is precious. It's the one commodity they aren't making any more of. Having a mentor helps you skip a lot of trial & error.

Nobody is really "self-made." We all stand on the shoulders of giants in one way or another, so make sure you're standing on the shoulders of the tallest giant you can find!

You'll make more progress towards your financial and business goals in one phone call or lunch meeting than in a decade of trying to figure it out yourself. Trust me.

5. Practice gratitude

Gratitude is such a massive practice. It's one of the most effective ways to change your experience and costs nothing!

Your subconscious is hardwired to look for things that support the status quo and ultimately keep you safe.

This doesn't mean that it cannot be re-programmed, however. You must learn to code in its language, also known as emotional energy.