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In a recentvideo, Chan shared the lessons he wishes hed known earlier that helped him achieve financial success.
Here are his seven secrets to achieving millionaire status so you canmake 2025 your most lucrative year yet.
Find Your Golden Circle
Becoming a millionaire rarely happens by accident.
For most self-made millionaires, the journey requires deliberate intent.
Your why creates a thread between your core values and why you want to be rich.
However, within six months, he had an experience that reshaped his perspective on earning money.
We are all cogs in the machine, Chan said.
He emphasized that everyone is replaceable regardless of where you work or how good you are.
According to Forbes, a lot of millionaires are entrepreneurs.
But what machine or business do you start?
Find the Right Business Idea
Determiningwhat business you want to startisnt easy even Chan struggled with it.
To guide his decision, he used the Hedgehog Concept, a three-circle Venn diagram.
The first circle represents what you enjoy doing.
While you dont have to be passionate about it, you should enjoy the activity.
For me, I really enjoy gamifying personal finances, Chan said.
I saw it like a jot down of video game.
The second circle represents what youre good at.
You dont need to be a world-renowned expert, just more knowledgeable than the average person.
The third circle identifies something people want.
For Chan, he knew there was a huge problem with financial literacy in the U.S.
The sweet spot in the model is where all three circles overlap.
Thats where you should focus your business efforts.
Build the Right Skills
To build wealth, Chan approached making money like mastering a new habit.
He intentionally and consistently sought out knowledge, immersing himself in the perspective of self-made millionaires.
Traditional schools teach really important concepts and ideas that you do need in life, Chan said.
However, according to Chan, the reality is that 95% of them wont take any action.
The most common mistake holding you back from becoming a millionaire is not getting started.
However, Chan warned that taking too much action at once can be like running in place.
Chans advice: Instead of taking action on dozens of ideas, commit fully to one business venture.
And for some, it might not be.
While it might seem insignificant, these small actions can make all the difference.
Consistent effort creates motivation and habits that will eventually lead to your goal.
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