The Important Life Lessons Millionaires Wish They Knew When They were Young

Knowing what you know now, don’t you just wish you can go back in time to give your younger self some great advice on life?

You aren’t alone. Even successful millionaires have a few things to tell themselves should they be able to travel back in time to their 20s.

And since jumping through time isn’t possible yet, the next best thing you can do is learn from their experiences.

Be Yourself

Katrina Ruth/Instagram — The Australian entrepreneur is currently running a multiple-million-dollar business empire

As a person who often faces the public, business coach Katrina Ruth has realized that the best way she can present herself to people is to just be herself, unapologetically. This means letting her true self shine and not an ‘edited’ or ‘filtered’ version.

‘The Katrina Ruth Show’ CEO assures that you’ll eventually give in to being yourself. It can take some time as you grow older but it will happen.

 Focus on Your Strengths

Dan Lok is a businessman who owns a company that manages over two dozen businesses. With an impressive achievement like that, his advice for young people certainly holds a lot of weight.

The Canadian venture capitalist is a believer that people should focus not on their weaknesses but on the things that they’re actually good at. If you develop those skills, the market will compensate for it.

Mistakes are Part of the Process

s_bukley/Deposit Photos — Leno is another successful person who overcame dyslexia as a young man

At 70 years old, former late-night television host Jay Leno has had a lot of time to learn from experience. And his main takeaway is that making mistakes isn’t a bad thing as long as you learn from them.

Sometimes you need to learn things for yourself. As Leno put it, people like him would still touch a hot stove even after being told that it’s hot because that’s a way to learn.

Self-Doubt Can be Good

Looking at real estate mogul Barbara Corcoran today, you’d never think she was anything other than confident. But there was a time when she wasn’t.

Growing up with a learning disability called dyslexia, the young Corcoran was often bullied and called ‘the dumb kid’. This led her to have little confidence in herself.

However, she now realizes that self-doubt can be a good thing sometimes, especially when it can be used as a motivator to try harder to be better.

Accepting Loss

Patch Baker — The serial entrepreneur is currently focused on helping veteran-owned start-ups

Every success story has its own share of losses behind the scenes. The same can be said when it comes to starting a business, according to Mobius Media Solutions CEO Patch Baker.

Being a former Marine, he learned about ‘acceptable loss’, which entails being able to identify what you’re willing to lose to get to your goal. He has since applied the concept to his entrepreneurial ventures.