The 12 Common Denominators of Internet Millionaires « The Blog of Matthew Loop

The 12 Common Denominators of Internet Millionaires

Have you ever wondered how certain individuals are able to break-out and make millions from the internet? Are you curious what really separates them from the average majority?

Lastly, what if I told you that 99% of rich online entrepreneurs had 12 things in common AND if you modeled them, your path to 7 figures was inevitable.

Do I have your attention yet?

Good… You’re going to find this blog incredibly revealing.

When I began my internet entrepreneur journey in late 2005, I wish I would’ve known these secrets I’m going to share with you today.

It would’ve saved me countless months of frustration.

Without delay, here are the 12 common denominators of internet millionaires:

1. They’re Crystal Clear on What They Want

Most millionaires I’ve become friends with mapped-out their ideal life LONG before it ever came to be. They didn’t write-down and set goals for what they “thought” they could get either.

They put down on paper what they really wanted in life. This encompassed all areas (business, material, health, relationships, spiritual, etc.). Specificity is king, too.

Just saying “I want to make more” doesn’t do anything to attract your ideal life. Why? It’s unattainable. There’s no defined, exact figure. It can’t be reverse engineered.

How much do you really want to make? How much does it cost to live the life you’ve always imagined?

Seriously, make a chart, get specific, and map-out everything you want for you and the family. Also, include how much it costs. Then when you have a grand total / month, you NOW have a clear picture.

2. They Start an Online Business Around Their Passion

To make a cool 7 figures from the internet, you need to absolutely love what you do. I mean, you have to be freekin IRRATIONALLY passionate about the business!

When you’re just starting-out, don’t be surprised to find you’re putting in 10-12 hour days.

In order to do this day-in and day-out, you must love what you do. In fact, even though you’re getting things accomplished, it might not even feel like work.

ALL of the internet millionaires I’ve met started businesses around things they were passionate about. They found solutions to problems that other people faced. That set the stage for vast prosperity and abundance.

3. They Network with Other Internet Millionaires

Every 7 figure earner I know is in a high-level mastermind group where they interact with other millionaires. They have coaches because they’re always searching to improve their results and make a greater impact.

Seasoned millionaires can provide objective feedback and find overlooked holes or additional profit centers. They give PROVEN advice that’s worked in their own business.

Of course, these mastermind groups are not cheap and some are by invitation only. However, the investment you make can come back 10-14 fold in a few weeks. I’m living proof.

When you network with other A-players and top earners, fast business growth is inevitable. These guys don’t think like everyone else, hence the reason they’re in the top 1%!

Networking, modeling, and heeding millionaire advice can TRANSFORM your life for obvious reasons.

4. They Hire Their Weaknesses

Wealthy internet entrepreneurs hire people SMARTER than they are to execute their visions. They know what they’re good at and delegate everything else. You’ll never see them trying to learn everything, attempting to be a jack of all trades.

Millionaires also know that TIME is the one thing you can never get back.

Time is more valuable than money, so they hire people for things they’re not good at or aren’t a productive use of their time, such as household chores.

Work ON the business, become resourceful, and be the creative driver. Don’t work “in” the business.

5. They Take Massive, Focused Action Daily

I’ve never met a lazy internet millionaire even though you don’t have to look too far online to find folks that try to sell this idea. Seven figure earners make a list of goals / tasks to accomplish each day.

Then, they work hard and stay focused for the allotted time-frame.

They don’t expect someone will save them (government, lucky star, lottery, etc…). They also don’t get stuck in analysis paralysis or waiting for the “perfect” time.

The action millionaires take is massive, consistent, and unrelenting.

6. They Understand it’s NOT About The Tactics

It always blows my mind how many internet entrepreneurs trade their job in corporate America only to become a slave to their online business. Here’s what I mean. There’s no shortage of marketing tactics or busy stuff you “could be doing” on the web.

God knows many social media gurus love to teach the latest and greatest strategy, giving you more shit to do.

The reality is, there’s no one magic bullet to getting all the traffic and sales you can handle. If you don’t have a solid foundation and if your website doesn’t convert traffic into sales, you’ll continue to struggle for peanuts.

At the end of the day, sales conversion is the metric of all metrics. This is what gets you paid like a rockstar.

7. They Know Their Email List is Their Biggest Asset

Ask any internet marketer that’s sold millions of dollars worth of products and services what their most valuable business asset is. Don’t be shocked when they tell you it’s their email list(s) that they’ve built from scratch.

You won’t hear them talking too much about Facebook fans, YouTube subscribers, LinkedIn connections, etc. They understand social media is just one of many mediums to get qualified, prospective customers onto their email list.

Your email list is the one thing that Google or Facebook cannot take away from you. There’s so many ways to deliver value and monetize it as well. The money is in the list and it’s your lifeblood online.

8. They Know How to Sell

This one single skill-set is what separates the internet elite from the average majority. Mastering the art of selling can add another zero (or two) to your bottom line. Why is this? Here’s the deal.

You could have the best product / service in the world, but if you can’t actually get someone to take their credit card out and invest in what you’re offering… it doesn’t matter.

Let’s be clear.

When I refer to selling, I’m talking about educating an already interested person in such a way where they take the next step immediately. You elicit a direct response.

The consumer sees the value, they get the benefits, they understand the product, and they believe it will get them the result they’re seeking. This compels them to buy now.

9. They Educate Themselves on How to Be More Successful

Right now, if you were to walk into an internet millionaire’s home, you’d probably find an extensive library of books regarding personal growth, development, and biographies.

Wealthy people are always learning from others that have had great success (in all areas of life). You won’t find tabloids, entertainment magazines, and novels sitting on the table like what the average person reads.

Nor will you find them spending hours on end in front of the Tel-Lie-Vision.

10. They’re Not Afraid to Take Risks

Most individuals are incredibly afraid of failure and rejection. They avoid situations that make them uncomfortable / uncertain at all costs. The majority prefer to be in their safe-house, hence a big reason why they live a mediocre life, never realizing what they’re truly capable of.

Internet millionaires don’t mind uncertainty or unknown territory. In fact, they’re always pushing themselves out of their comfort zones. They understand this is how personal growth and dramatic life breakthroughs happen.

The upper class look at risk differently, too.

They live without regrets and don’t let the “what if (something negative) happens” scare them. Risk is a part of life. It’s far riskier to remain static, never fulfilling your maximum potential.

11. They’re Always Paying it Forward

Internet millionaires have a burning desire to contribute, make a difference, and leave a strong legacy. This is what motivates and drives most, not the money.

What’s interesting here is their habit of giving usually begins long before material wealth is accumulated. It’s almost as if the universe rewards massive giving with more prosperity and abundance.

The best feeling in the world comes when you’re on-purpose paying it forward.

12. They Create Multiple Streams of Passive Income

Every single millionaire I’ve become friends with, interviewed, or met at a seminar has multiple sources of passive income. This is money that gets deposited in the bank without them having to even think about it or do additional work.

The top 1% build their internet empire like the Parthenon.

If one pillar goes down, there are several other pillars supporting the main structure. They’ve set their businesses up in such a way that they couldn’t stop the money pouring-in even if they tried.

This concept is critical to understand and implement.

In the information publishing business (the biz we’re in), there are several ways to establish consistent flows of recurring, effortless revenue. Everything from ebooks, dvd trainings, coaching programs, software, membership sites, consulting, speaking, iPhone apps, and more.

If you seriously want to create multiple streams of passive income or if you already have one, but are not seeing the results you know you’re capable of, I have great news.

You have the opportunity to work one-on-one and get my most complete training on all aspects of creating a 7-figure internet empire. Two application-based options are available.

Find out if you qualify for private one-on-one coaching or the Total Immersion Day experience today.

Hopefully, you found this post valuable and it opened your eyes to the common habits and practices of internet millionaires. Wealth IS truly predictable if things are done in a certain way.

I’d love to hear your thoughts. Leave a comment below to share with the community…

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About the Author

Matthew Loop is an author, speaker, investor, philanthropist, and the highest paid social media revenue strategist in North America. He helps brands, startups, and small business owners multiply their influence, impact, and income by harnessing the power of the Internet. Since 2005 he’s trained over 21,000 clients in 25 countries. Millions have viewed his free business growth tutorials online. Connect with him on FacebookInstagram, and Twitter.


2 Responses to “The 12 Common Denominators of Internet Millionaires”

  1. Edwin Duban says:

    Whatever you do always think positively and this is the start of it! Thank you!

  2. Matthew Loop says:

    Yes, you must have a positive and unstoppable mindset!

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