Observations on a Day with 5 Self-Made Millionaires

Our annual Top Gun event in L.A. was a big hit as some of the brightest up-and-comers gathered to learn from some the biggest players in our industry. After spending time with five brilliant men and women – all of whom reached self-made millionaire status before turning 40 years old – a few big commonalities jumped out:
 1. They chase different rewards than the masses.
First, they never use words like “stability” or “security” when talking about goals or a happy life. They talk about how good it feels to overcome obstacles and how you have to be bold and aggressive. They like risk, as long as it’s well-calculated. They like adventure and pushing themselves. They want influence and to leave a legacy, not just to survive life and get by.
 2. In the matchup vs. Fear, they win.
It all starts with what people are fearful of. For most, fear is making yourself vulnerable and possibly feeling embarrassed if you go for something and fail. For these five, doing what’s comfortable and plugging away is the scariest thought in their minds.
So all five strive to be in situations where they will be tested. Winning is rarely a certainty, even though each is confident that they’ll find a way to win.
  3. What everybody else is doing is irrelevant … and usually wrong.
Instead of chasing status or envy and hoping it leads to success, they went the other way. They worked long hours when others wouldn’t. While others worked to make other people money, they faced ridiculously stressful challenges making their own money building a business. They wanted independence and control. They all tell stories of friends and family members who advised them to do easier things, but who now, are very proud of what they’ve accomplished.
  4. They’re aggressive learners.
We’re certainly not talking about school here. As one of them says, “school won’t make you successful, your hard work and your determination will make you successful.”
We’re talking about mentors and books. Only two of the five turned an original idea into their success. All of them cite great mentors who helped shape their thoughts and goals. All of them talk frequently about how little they know and how much better they need to get. They’re all hungry to improve.