As an internet entrepreneur and guest speaker at various business events around the world, I have used my expertise, experience and influence to put together what I call the “philosophy of success” when working in any online/offline business. My background really has opened doors for me to meet, interview, observe and learn from some of the most successful internet entrepreneurs of our time.
I undertook this project because I suspected that these people have certain things in common, including how they think, talk, interact with others and make decisions. The results have been astonishing!
My relationship with some of these exceptional people has been very close and personal as we worked face-to-face, day-to-day, week-by-week. I had the opportunity to be involved and pretty much be present during the entire time they built and created their wealth from scratch. The result of these relationships brought about an amazing conclusion.
What I discovered was that renegade Internet entrepreneurs are not just ordinary millionaires. Something additional and exceptional has put these individuals in the top 1% of the online population. Unlike equity investors, their millions of net worth often is in cash. Put another way, not only do these millionaires enjoy a great net worth, they are also extremely liquid. By enjoying enormous cash flow autonomy, these renegade millionaires have the ability to create income at will.
Who Are The Renegade Internet Millionaires?
By saying “renegade millionaires” I refer to people that did not inherit their massive wealth, but instead they built it themselves from zero through entrepreneurship and certain entrepreneurial behaviors and practices. What is it that they do or have that distinguishes them from the crowd of mediocre, never breaking-through, businesses?
The 7 Similarities among Internet Millionaires
There are a lot more than 7 similarities, but I have chosen the most crucial ones to better understand why these people are so successful. Clearly there must be key differences that allow them to be so “cash” rich, so secure and totally free of all obligations.
Here are 7 similarities between Internet millionaires:
- All of them have a clearly defined business philosophy that includes their entrepreneurial mission. They have a set of beliefs about how they approach business in general. They always can name their top beliefs that govern every decision they make and everything they do. These people would have been rich in any business, not just in the Internet business.
- They have a profoundly different approach to marketing: they market smart and hard.
- They have a great skill at creating extraordinary businesses in months rather than years.
- They can see value in products and services that no one else can see.
- Unlike most business people, they are not obsessed with their competition. If fact, they do not even worry about competition. They believe in being proactively engaged in their own work.
- They act as if the world evolves around them. They think they are at the centre of the world and everyone revolving around them is there to help them make more money.
- They have a different idea about price. They believe with religious fervor that they can sell ANYTHING at any price and that there is a market for that price.
Renegade Internet Millionaires Think Differently
Most people want to start an online business because they want to be in business for themselves, have no boss, work from home, gain more family time, travel the world and be financially independent. I have found that renegade Internet millionaires think differently. Their real reason to be in business is not about having their own business. They don’t care about travelling the world, they miss seeing their kids for many days or weeks, and they don’t like working from home.
Why There Is No Competition in Wanting to be Rich
How many people actually wake up in the morning and dedicate themselves to getting rich? People commit themselves to getting the work done, answer their emails and reply to blog posts. But their mind is not on their “cashflow” neither on their “net worth”.
Either their ambitions are not very big, or they are actually dedicating most of their time to a multitude of various things, such as solving problems in their online business, finding content, writing copy, emailing as well as taking care of children and an entire household.
They think they are in business, but they are not in the money business.
Renegade millionaires are totally, truly and entirely in the money business. The competition for getting really rich by dedicating yourself to getting really rich is very small. There is only a tiny percentage of the population that actually thinks – AND acts – this way!
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Tagged as: how to start an internet business, making money online, monetize on your website, online business tips
{ 28 comments… read them below or add one }
Awesome article Alex,
They do have a great skill at creating extraordinary businesses in months rather than years. It is very true…
Thanks for the share…
Adam Paudyal´s last [type] ..Sunday Synopsis- A Round-Up Of The Best Of The Web This Week
Thanks Adam, Successful entrepreneurs use the concept of “synergy” to create businesses really fast as well as certain types of joint ventures that allow them to leverage on skills, resources and infrastructure already available. In this way, new businesses are created out of nowhere really fast. Maybe we can talk about synergies in another post in the future.
Umm…PAPA!!!!
i reason with what you’ve just said. Well i guess many internet entrepreneurs belief is to give value first before focusing on the cash flow! I have a question for you PAPA! Do you think internet entrepreneurs should change their orientation twoards internet business? Thanks for sharing. Have fun.
Hi Sam, good to see you here young man! It is a confusing thing, whether you give value first or you focus on the cashflow. What comes first? This is like the question my grandmother used to ask me when I was a kid: “What comes first, the egg or the chicken?” The fact is that none can exist without the prior existence of the other. In business you need to focus on giving value in order to receive cash – but you need to have your mind in the cash in order to provide true value.
To answer now your question about “if internet entrepreneurs should change their orientation towards their internet business” my answer is this: It depends on what stage you are in and it depends what you are in the online business for.
For many new online entrepreneurs the online business is about the red Ferarri and the huge mansion by the lake as shown by crafty internet marketers or webinar speakers who are trying to sell you a tool or a program that “will bring somebody from rags to riches in a matter of months or weeks”. It usually does not work like that. You can achieve great success in an online business or in any business and get the luxury car and big house. But this does not happen only by “buying into” a program, or software or a “magic” traffic tool. My best advice to achieve success is to:
1. Know exactly and precisely and without a doubt what kind of business you want to have. (This may take you years and it may not happen until you are older…but the earlier, the better)
2. Find people who are already successful in what you want to achieve,
3. Copy them: see what they do, how they do it and how they think and learn from them.
This method does not guarantee you’ll make a million. But it is a more secure method than buying into “magic tools” or “secret formulas”. When I was young I read a lot of entrepreneur biographies. Learning how successful people think helped me in real-life business decisions and by the time I was 35 years old I had build a small empire. If this method worked for me it may work for others too. Sorry, this comment is a bit long, but I did want to give you a proper answer. Hope this helps.
Yea PAPA!!!!! It helps
Thanks for the reply. have fun.
I have come to realize that very few people wake up in the morning with a fixed mind frame that they are going to be rich, indeed. That’s because very few people have assumed the identity that they ARE rich. If your identity is not one of a rich man, you will not act like one.
Hi Matt, thank you for your comment! You are talking about “assuming identities”. This is awesome. We have to assume the identity of the person we want to become. This is a huge subject and a very powerful one. I think you must be listening to Tony Robbins CDs! I love these ideas – they are life changing.
Valuable inspirational post on Internet Millionaires and all their qualities and hardword(smart) towards internet made them Millionaires. Thanks for sharing wonderful infor Alex !
Thiru@webapprater´s last [type] ..Countdowndayscom – Create your very own countdown
Thanks Thiru, I sort of get carried away sometimes and write long posts. I just want to give good information. I hope it helps!
Hi Alex
You’ve hit this one out if the park my friend! I love how you stressed the point there is no competition to becoming rich. Man, I couldn’t agree more.
Thanks for sharing this killer post Alex
Michael
I’m glad you enjoyed this Michael. People like you with more experience in business (and life in general) will understand even more!
I’d say as long as you are ethical and highly determined you are following the footsteps of Internet Millionaires. They took the beating and if you can put your ass in the line for that beating and bear it with a smile on your face you are a winner
Salman Aslam´s last [type] ..Use The iPad And The iPhone Together With Remote Palette
Hi Salman, I understand – and agree – that being ethical and highly determined is extremely important to long term success. Also, “putting your ass on the line” as you said, in other words taking a risk is inevitable. Nothing really of any significance happened without a degree of pain and/or risk. Extraordinary things happen when we get out of our comfort zone… Thanks for your input!
I appreciate it
Salman Aslam´s last [type] ..Amzer Super Clear Screen Protector with Cleaning Cloth for HTC Desire
Hello,
Wow, what a detail written article with full of information, really it is very helpful for me, thanks a lot for providing such a great knowledge.
I am glad you found this informative and helpful. There seems to be a lot of good information in this blog!
nice piece really, it was interesting when i read it
Praveen-Techperk´s last [type] ..7 Tips to Improve your Adsense Click Through RateCTR
Thanks for your appreciation! I got a lot more response in this post than I thought I would. Alex
haha you think so ? just remember me may be in case it works haha !
thank You , some are not that simple to do but it worths !!!
Rahul @ MazaKaro´s last [type] ..How to prevent WordPress Blog from Hackers
Hi Rahul, I’m glad this post was thought provoking for many people. It appears that everyone, including yourself, have their own approach toward achieving success. Isn’t that a main characteristic of good entrepreneurs! Well done.
Thanks Alex,
There’s so much that we can learn from successful people. I always enjoy talking to and listening to successful people in any field just to get the kinds of tips that you listed in your post.
Richard´s last [type] ..Timesaver Tips- Free Traffic System
Hi Richard! Thank you for your feedback and for taking time to let show me your appreciation. I hope you got something good out of this post. Alex
I have a faith that if we are persistent and know well what we are doing, we will be successful in our thing (in this case, blogging)
Just don’t give up half the way, and always try -work hard together.
Excellent Post Richard!
Kimi´s last [type] ..WordPress Themes For Law Firms
Good to see you here Kimi. It seems you know exactly what you want to be successful at and you focus on it. Knowing what you want and be clear about it in your mind is half the battle. Most people don’t even know what the want – no wonder they don’t go anywhere. Thanks for your kind comment.
What you have listed are really true, but I believe before being focus on money business, one self had to have a good attitude, if being rich and wealthy but without a good attitude, then what’s the meaning of life after all…
Not all Millionaires have much of a good attitude, I have seen those and one of them is related to me somehow. So my focus is always having a good attitude first before focusing on the list you have mention and that will be nice when success is near…
The Bad Blogger – Down & Dirty Secrets Not For Kids´s last [type] ..Are You Reading The Right Blog Not Only Is It Important Which Blog You Read- It Is Equally Important Which Blog You Do Not Read
ya that’s what also believe, one should only focus on their internet business rather just reading what works and what not. You will rarely see any successful internet Marketer wasting time on forums.
Daisy @ Tinnitus´s last [type] ..Tinnitus Treatment Permanent Tinnitus Treatment updated Fri Oct 15 2010 9-21 am CDT
It is a very different mindset. You must think and act rich. Until someone experiences this first hand, making a lot of money, they will never understand.
I dedicated one of my blogs just to teaching people how to invest their money and have a successful mindset like wealthy people do, so they can see that it is possible to become rich.
Mike´s last [type] ..Why Most New Sites End Up Failing
It’s about keeping up with the hustle, ahead of the game. That’s what IM’ers really understand, the fact that you can’t just go off of basic knowledge, you have to continually push for something new and get it out there before anyone else – create a launch and then create the product instead of the other way; that puts a fire under your butt to get the job done