I spent 5 years interviewing 233 millionaires. No. 1 career move that made them rich.
In order to understand the habits and thinking of millionaires, I spent five years studying and interviewing them. Through my research, I found that millionaires share similar traits, such as the ability to make sound financial decisions. They also have the willingness to take risks, and the ability to stay disciplined in their work. Additionally, millionaires have a strong work ethic and can set and work toward long-term goals.
A lot of attention was placed on work: 51% of respondents were entrepreneurs, 28% had traditional 9-to-5 jobs, and 18% worked at senior levels for large corporations.
Despite this, they all had one thing in common: They quit their mid to late-career jobs because they felt it was the only way to succeed and build wealth. People left the company to start their own businesses. Further, you will be able to find lateral positions that offer higher salaries and higher growth potential Salaries.
The following are some of the most common red flags that led them to quit:
They needed to be more utilized.
According to my research, there is a widespread complaint among billionaires that they are doing “zombie work” – boring, monotonous tasks that do not give them the opportunity to utilize their skills.
Due to a feeling of underappreciation, one employee left a container transportation company to collaborate with another professional as a result of feeling underappreciated.
As part of their partnership, they helped open the United States office of a multibillion-dollar container shipping company, and they currently hold top positions within this multibillion-dollar company as part of their partnership.
They had toxic bosses.
When your manager is demanding, self-centered, haughty, or uninterested in your ideas, you won’t be able to achieve your earning potential.
A billionaire complained that his manager continually criticized his work in an unconstructive manner, making him nauseated. When he became tired of it, he left to start his own construction company, bringing with him several key workers who shared the same sentiments. After expanding into the homebuilding industry, the founders became extremely wealthy.
It was a work environment that they feared.
An accounting manager in my study who works in an environment where harmful talk is encouraged may experience worry each day.
Finally, after months of job interviews, he found a job offer at a rival business, where he worked his way up the corporate ladder and eventually became a partner.
They weren’t paid enough (or getting raises).
My participants told me that when their earnings barely covered their expenses, it was time to look for a new job.
It was impossible for them to afford the trips they wanted or accumulate enough cash to buy a house.
Using investments from family and friends, one employee at a large auto dealership started his own dealership and franchised it, which allowed him to amass substantial wealth.
Their industry was unsteady.
A former IT professional has started an online brokerage business offering discount online brokerage services after leaving his struggling manufacturing company.
He and the company prospered as the industry grew. This reminds us that our skills might be more transferable than we think.
Do not be afraid to get involved in something that excites you.