by Darpan Sachdeva
In the pursuit of success and financial prosperity, we often wonder what sets millionaires apart from the rest. Thomas C. Corley, author of “Change Your Habits, Change Your Life,“ dedicated five years to studying the daily habits of 177 self-made millionaires. His research revealed that success is not a matter of luck or inheritance, but rather a result of consistent, purposeful habits.
Corley’s findings offer hope and inspiration to anyone aspiring to improve their financial situation and overall quality of life. The good news is that these habits can be developed and cultivated by anyone willing to put in the effort.
Let’s explore the 13 key habits that Corley identified as common among self-made millionaires:
1.Consistent Reading
One of the most striking habits of self-made millionaires is their dedication to reading. Corley found that 88% of wealthy individuals devote at least 30 minutes daily to self-education or self-improvement reading. Unlike the average person who reads for entertainment, millionaires focus on three types of books: biographies of successful people, self-help or personal development, and history.
This habit underscores the importance of continuous learning and personal growth. By reading about others’ successes and learning from history, these individuals gain valuable insights and inspiration for their own journeys.
2.Regular Exercise
Physical health is a priority for the wealthy, with 76% engaging in aerobic exercise for at least 30 minutes every day. This includes activities like running, jogging, walking, or biking. Beyond the obvious physical benefits, exercise is crucial for mental acuity and brain health.
Corley explains that cardio exercise increases neuron production and glucose levels in the brain, essentially fueling cognitive function. This habit demonstrates the interconnectedness of physical and mental well-being in achieving success.
3.Networking with Success-Minded Individuals
The adage “you are the average of the five people you spend the most time with” rings true in Corley’s research. Self-made millionaires actively seek out and associate with other goal-oriented, optimistic, and positive individuals. They understand that surrounding themselves with success-minded people can elevate their own aspirations and achievements.
Equally important is the habit of avoiding negative influences. Corley emphasizes that destructive criticism and negativity can derail one’s pursuit of success, highlighting the importance of curating a supportive and inspiring social circle.
4.Pursuing Personal Goals
A key differentiator for self-made millionaires is their commitment to pursuing their own dreams and goals. Rather than chasing someone else’s vision of success, they define their own objectives and pursue them with relentless passion and determination.
“Pursuing your own dreams and goals creates the greatest long-term happiness and results in the greatest accumulation of wealth,” Corley writes.
This habit speaks to the power of intrinsic motivation. When individuals are driven by their own aspirations, they find the energy, persistence, and focus needed to overcome obstacles and achieve long-term success.
5.Early Rising
Nearly half of the millionaires in Corley’s study made it a habit to wake up at least three hours before their workday began. This early start allows them to tackle their most important tasks without interruption and sets a proactive tone for the day.
“These disruptions have a psychological effect on us. They can drip into our subconscious and eventually form the belief that we have no control over our life,” Corley writes.
“Getting up at five in the morning to tackle the top three things you want to accomplish in your day allows you to regain control of your life. It gives you a sense of confidence that you, indeed, direct your life.”
By rising early, these individuals gain a sense of control over their lives and schedules. This habit helps them navigate inevitable daily disruptions while maintaining focus on their priorities.
6.Multiple Income Streams
Financial diversification is a common trait among self-made millionaires. Corley found that 65% had at least three streams of income before making their first million dollars. These additional income sources often include real estate rentals, stock market investments, and partial ownership inside businesses.
This habit reflects a strategic approach to wealth building, reducing reliance on a single income source and creating multiple pathways to financial growth.
7.Seeking and Valuing Mentorship
The wealthy recognize the value of learning from others’ experiences. They actively seek out mentors who can guide them, share valuable life lessons, and provide insights into what to do (and what not to do) on the path to success.
“Finding a mentor puts you on the fast track to wealth accumulation,” Corley writes.
“Success mentors do more than simply influence your life in some positive way,” he continues. “They regularly and actively participate in your success by teaching you what to do and what not to do. They share with you valuable life lessons they learned either from their own mentors or from the school of hard knocks.”
This habit accelerates personal and professional growth by leveraging the wisdom and experience of those who have already achieved success.
8.Maintaining a Positive Outlook
Long-term success, according to Corley’s research, is intrinsically linked to a positive mental attitude. Self-made millionaires cultivate awareness of their thoughts and actively work to maintain an optimistic outlook.
“Long-term success is only possible when you have a positive mental outlook,” Corley states. “In my research, positivity was a hallmark of all the self-made millionaires.”
The problem for most people is that they’re completely unaware of their thoughts, positive or negative, he explains: “If you stop to listen to your thoughts, to be aware of them, you’d find most of them are negative. But you only realize you are having these negative thoughts when you force yourself to be aware of them. Awareness is the key.”
This habit involves recognizing negative thought patterns and consciously shifting towards more positive, constructive thinking. It’s a powerful tool for overcoming obstacles and maintaining motivation in the face of challenges.
9.Forging Their Own Path
While many people strive to fit in, self-made millionaires are not afraid to stand out. They create their own unique paths rather than following the herd mentality. This habit involves thinking independently, challenging conventional wisdom, and being willing to take calculated risks.
Successful people create their own new herd and then pull others into it, Corley says: “You want to separate yourself from the herd, create your own herd, and then get others to join it.”
By creating their own “herd” and inspiring others to join, these individuals become leaders and innovators in their fields.
10.Practicing Good Etiquette
Success is not just about what you know, but also how you conduct yourself. Self-made millionaires understand the importance of social graces and professional etiquette. This includes sending thank-you notes, acknowledging important life events, displaying proper table manners, and dressing appropriately for various occasions.
“Self-made millionaires have mastered certain rules of etiquette principles you have to master if you want to be a success,” Corley writes.
This habit reflects an understanding that success often hinges on building and maintaining positive relationships, both personal and professional.
11.Helping Others Succeed
- Contrary to the cutthroat image often associated with wealth, Corley found that self-made millionaires actively help others achieve success. They understand that true success is rarely a solo endeavour and that by lifting others, they elevate themselves.
“Helping other success-minded people move forward in achieving their goals and dreams helps you succeed,” Corley writes. “No one realizes success without a team of other success-minded people. The best way to create your team is to offer help to other success-minded people first.”
You don’t want to give help to anyone and everyone, Corley notes: “You want to focus on helping only those who are pursuing success, are optimistic, goal-oriented, positive, and uplifting.”
This habit of generosity and collaboration focuses on assisting those who are also success-minded, positive, and goal-oriented, creating a network of mutual support and growth.
12.Dedicated Thinking Time
Self-made millionaires prioritize time for focused thinking and reflection. They dedicate 15 to 30 minutes daily to brainstorming and contemplating various aspects of their lives, from career and finances to health and philanthropy.
“Thinking is key to their success,” Corley observes.
They ask questions such as, “What can I do to make more money? Does my job make me happy? Am I exercising enough? What other charities can I get involved in?”
This habit of intentional reflection allows for strategic planning, problem-solving, and the generation of new ideas, all crucial elements in maintaining and growing success.
13.Seeking Feedback
The final habit Corley identified is the willingness to seek and accept feedback. Despite the natural fear of criticism, self-made millionaires understand that feedback is essential for learning, growth, and course correction.
“Fear of criticism is the reason we do not seek feedback from others,” Corley writes. “But feedback is essential to learning what is working and what isn’t working. Feedback helps you understand if you are on the right track. Feedback criticism, good or bad, is a crucial element for learning and growth.”
Additionally, it allows you to change course and experiment with a new career or business. As Corley says, “Feedback provides you with the information you will need in order to succeed in any venture.”
This openness to input from others allows for continuous improvement and the ability to adapt strategies as needed, crucial skills in an ever-changing business landscape.
These 13 habits offer a roadmap for anyone aspiring to achieve financial success and personal fulfillment. They underscore the importance of continuous learning, physical and mental well-being, positive relationships, goal-setting, and strategic thinking.
The power of Corley’s research lies in its accessibility. These are not innate traits or privileged behaviours, but habits that can be developed and nurtured by anyone with the determination to do so. By incorporating these practices into our daily lives, we can begin to shape our own paths to success, regardless of our starting points.
Remember, wealth and success are not accidents but the results of consistent, purposeful actions over time. As you reflect on these habits, consider which ones you might already practice and which you could adopt or strengthen. The journey to becoming a self-made millionaire begins with small, daily choices that compound over time into life-changing results.
Darpan Sachdeva is the CEO and Founder of Nobelthoughts.com. Driven by a profound dedication to Entrepreneurship, Self-development, and Success over an extended period, Darpan initiated his website with the aim of enlightening and motivating individuals globally who share similar aspirations. His mission is to encourage like-minded individuals to consistently pursue success, irrespective of their circumstances, perpetually moving forward, maintaining resilience, and extracting valuable lessons from every challenge
