Yahoo Finance I’m a Self-Made Millionaire: 4 Outrageous Things I Did To Get Rich
Growing your wealth in a big way can require some audacious moves, to say the least. You might consider things you’ve never tried or even attempt some big leaps — all in the name of your vision. The upside? The rewards can prove beyond your wildest dreams.
Read More: Dave Ramsey’s Best Passive Income Ideas for 2024 — 15 ‘Steady, Profitable’ Ways To Build Wealth Fast
Find Out: 3 Genius Things All Wealthy People Do With Their Money
GOBankingRates spoke with two self-made millionaires, Jeff Mains, a finance expert and the founder of Champion Leadership Group, and Daniel Meursing, the CEO and founder of Premier Staff, to discuss some of the outrageous things they did on their journey to building wealth.
Wealthy people know the best money secrets. Learn how to copy them.
Disrupting the Status Quo
“One of my most pivotal, and indeed outrageous, decisions on the road to becoming a self-made millionaire involved a hyper-aggressive entry into an already saturated market,” recalled Mains.
Most entrepreneurs shy away from crowded markets, preferring the safety of niches with less competition. However, Mains saw an opportunity to disrupt the status quo and aimed to redefine industry standards.
“To achieve this,” he continued, “I launched an all-out series of audacious marketing campaigns designed to capture attention and steal market share from well-established players. This wasn’t just about being loud or visible –it was a calculated effort to offer something radically different, something that existing companies weren’t providing.”
Investing With No Promise of Returns
Mains took big risks. He said, “This strategy required sinking substantial capital into marketing efforts with no promise of returns. Every dollar spent was a bet against the conventional, a wager that our bold voice and unique value proposition would resonate with a substantial enough segment of the market to justify the expenditure.”
Not only was the potential to fail already high, but the financial investments could evaporate, and Mains’ aggressive approach could alienate potential customers or provoke counterstrategies from larger, more resourceful competitors.
He added, however, that the gamble was grounded in a deep understanding of the market dynamics.
“Prior exhaustive research indicated a segment of the consumer base that was grossly underserved or growing weary of the old guards’ offerings,” said Mains. “By targeting this segment, the campaigns were not merely shots in the dark but informed strikes at the heart of competitors’ weaknesses.”
Try This: 8 Ways To Make $200 (or More) a Day Working From Home
Enduring Months of Uncertainty
Mains’ high risk move required not just capital, “but also nerve and resilience. It involved enduring months of uncertainty, with the business’s future hanging in the balance as we awaited the market’s response.”
Overtime though, the strategy showed signs of working. As Mains put it, “Market reception started tilting in our favor, buzz grew and sales figures started reflecting the efficacy of our approach.”
By entering the market with such a hyper-aggressive strategy, Main’s business thrived, fundamentally shifting consumer expectations and setting the company on a path to becoming a market leader.
“This approach laid a solid foundation for the business, proving that even in the most crowded markets, there is room for innovation and disruption,” added Mains. “The lesson here is clear: with sufficient market insight and the courage to act boldly, even the highest risks can lead to extraordinary rewards.”
Taking An Extraordinary Leap of Faith
Meursing’s journey from a mortgage loan officer to a self-made millionaire in the event industry has been anything but conventional.
He said, “Picture this: You’re a successful loan officer, with a stable income and a clear career path. Then one day, you decide to throw it all away for a chance to rub elbows with celebrities and luxury brands.”
Crazy, right? Well, that’s exactly what he did.
“I remember the day I quit my job to start Premier Staff,” Meursing recalled. “My colleagues thought I’d lost my mind. ‘You’re giving up a steady paycheck to serve champagne to rich people?’ they asked. But I saw an opportunity that they couldn’t — a chance to build something extraordinary in the world of luxury events.”
He said this decision was the first of many unconventional moves that led to his success.
“I went from crunching numbers on mortgage applications to coordinating staff for some of the most exclusive events in Los Angeles,” he continued. “It was a risky move, but one that paid off beyond my wildest dreams.”
Investing Everything in Relationships
According to Meursing, one of the most ridiculous things he did to get rich was invest all of his money into building relationships with high-new-worth individuals and luxury brands.
“I maxed out credit cards just to attend exclusive events and join elite clubs,” said Meursing. “It was terrifying, but I knew these connections would be invaluable.”
He explained, “There I was, eating ramen noodles in my tiny apartment, wearing a rented tux to mingle with the who’s who of Hollywood. My bank account was screaming, but my gut told me this was the path to success.”
This all-in approach led to Premier Staff securing contracts for events like the Oscars, exclusive fashion shows on Rodeo Drive and even staffing for Netflix productions, much to Meursing’s credit.
“We’ve since worked with clients ranging from Justin Bieber and Lady Gaga to prestigious brands like Bentley, Ferrari and Louis Vuitton.”
More From GOBankingRates
8 Rare Coins Worth Millions That Are Highly Coveted by Coin Collectors
Housing Market 2024: Home Prices Are Plummeting in 10 Formerly Overpriced Housing Markets
This is The Single Most Overlooked Tool for Becoming Debt-Free
This article originally appeared on GOBankingRates.com: I’m a Self-Made Millionaire: 4 Outrageous Things I Did To Get Rich
