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Mary Wells | 03/24/2008 1:06 pm

How to Become A Millionaire ... If You Aren't Born Rich

Mary Wells

The general rule is that you have to build a valuable business and sell it. It is very hard to become a millionaire, let alone a billionaire, working for someone else. You can be unusually talented, work your head off, do everything right, earn an impressive salary decorated with stock options and have the shock one day of seeing the people who own control of your company sell it and walk off with the big money.

I worked for many others and had those disappointments. Then I built my own company and when I sold it I made my own sweet fortune. I wrote a book all about that called A Big Life (In Advertising). Read it, because if I could do it, you may be able to do it – if you want to badly enough – if you are hungry – and if you have talent in your field.

It wasn’t easy to do. It was very hard to do. It will be very hard for you to do because you have to become conspicuously valuable. There are times when you have to do so much more than just be better than anyone else in the world at your job! You have to understand your business in your very bones – you have to know everything that impacts it – you have to be aware of the world that you and your business are operating in, so that you are ready for any little miracle opportunity that may come along.

Miracle opportunities are odd and can require knowledge you can only have if you have worked hard to learn a little bit about almost everything. Out of the blue someone who could be instrumental to your future and your chance to start your own business may ask you what you think of the way Peter Gelb is handling the Met, or what you think of recent art prices, or your opinion about alternate fuels, and they will want to know what you think. You will want this person to see you as an informed, aware and fully alive executive – as someone who is much more than merely very good at your job in your field.

Once you have your own business, the day will come when you will need to discuss it intelligently to a Wall Street Journal reporter or to Larry King. Start becoming the person who can do all those things and much more now. If you are hungry – stretch – devote yourself to yourself for a while until you are on a new level. If it sounds easy, it isn’t easy. It takes time and energy and focus away from your children, your husband, your lovers.

It is good to start thinking of yourself as an artist, even if you don’t know what sort of artist you are and even if your job entails more serving coffee than creativity. All artists are self taught, in any field, and it takes a bit of hallucination to climb the steep ladder you will have to climb to become the valuable person you want to become – as rich as you want to become. At times, you have to be superhuman. Creating a new you is, in fact, a creative and artistic event.

A lot of people are very good at their jobs. Being very good at your present job is not nearly enough. You have to be unique, to stand out.

You need time – you need help – you need to know the resources available to you in the city, the state, the country. You need collaborators. You will meet thrillingly talented executives but you will also meet abusive, mean, severely self-interested ones who are limited in their ideas and do not wish you well with yours. Get ready for them. Most of them can be handled with intelligence and generosity of spirit.

Difficult executives can be damaged people and if you handle them well they have a funny way of becoming your greatest supporters. Put the magic word in your psychic backpack – collaboration. It accelerates success. Even better is love. Men rarely talk about love in business. They tend to equate love with lust and lust is a suicide pill in business. Yet the most successful male executives I have known have been the caring ones. People do more for them. If you are serious about a business and making a fortune out of one remember that business flirtations and business lust is only for television series – mostly in hospitals. But caring about people you work with – and especially for – is good stuff. Keep it at the ready.

Note: Write to me. If I can, I would love to help you make a million.

Read more about: Business, Career, Finance, Money, News

64 Reader Comments (so far…) Sign In or Register to comment

Evie Devlin
Mary, thanks for the moving words of inspiration. I had my time in the corporate world for almost 20 years and the last quarter was the most rewarding. I agree that executives are mostly difficult but can be managed with wit and intelligence but most of all with the human touch. I had a share of them and they have become my very good friends even after our corporate lives. Now I made a radical change of careers in the medical field, it is a new beginning like a bud ready to unfold for me. My “millions” might be a long way to go for me but who knows what connections I might be able to spark again. I thank you for your deep words once again; they spoke right to my soul.
By Evie Devlin on 04/10/2008 10:33 pm
Joanne Morse
Dear Mary, I’m sorry it took me this long to discover this posting. I am struck by the leap you took with this piece and the follow-up. But then that’s why you’ve been so successful. The sheer generosity to share your experience and extend a hand of assistance to those who need/want the guidance/mentoring from someone of your reputation is really a big gift. And then to act upon that by reaching out to Joni in response to one of the reader’s postings to you, and then for Joni to reach out too. Now that’s the magic and power that I hoped…dreamed might be possible with this site. Just imagine how far this could extend. This is exactly what we women have needed. I love the possibilities of collaboration that extend to such an esteemed group and in return I hope that we (your collaborative readers) may also bring value to all of you. And on that note, I seriously almost missed this piece and that would have been a real loss. There are ways in the web world to help we readers know when “categories” of postings (we’ve each indicated we are interested in) have appeared on the site, so we don’t risk missing something important…..as I almost did. A little marketing push to us seems like a good thing here. I’m happy to share ideas if the wowOwow team is not already hard at work putting that into play in the site. More later, but just wanted to send a grateful (though belated) thank you, Mary! Brilliant! Joanne
By Joanne Morse on 04/25/2008 12:04 am
Emcye Edwards
Mary Wells, You’re on! Please recommend a method of contacting you with a proprietary idea, proposal doc and maquette.
By Emcye Edwards on 05/01/2008 12:51 am
Sharron O'Connor
Ms. Wells: I wish I had it in me to just get it all out. I would like to thank you for your article.
By Sharron O'Connor on 05/01/2008 8:44 pm
Dona Howlett
There’s another way to make a million……buy a house in Northern California in 1955 for $12,500…..sell it in 1979 for $89,000…..buy another house for $127,00 (you see we are upgrading each time)…….get it paid off in 15 years…….Walla you now have a house worth $1,000,000 Of course since I’m living in it…….my kids will have the million down the road. Ain’t life funny. I would never have dreamed when I was little girl with very little money that one day I would own a house worth a million dollars. Thank God I’m already in it…….I sure couldn’t afford to buy the house now.
By Dona Howlett on 05/04/2008 2:52 am
Dean Sorenson
I wish I knew more about this stuff…good read. Then again I must be cautious..but not too cautious. I’m interested in knowing how I can act normal without cutting down my sexual interest. I tend to act more like a love sick puppie without a bone. Where has my spine gone?
By Dean Sorenson on 05/13/2008 5:23 pm
Teresa Proctor
Mary I love your story, when we take the time to connect to our true selves, that is when magic happens. We are able to move out of our own way and take the leaps with confidence and joy, how great a feeling is that, scary YES, exciting YES, driven in fear, anxiety, panic NO! This is what life is about connecting to your own resources and most importantly creativity. When we connect to our true Passion, we have now entered a new door into a Universe, which is more than happy to provide us with the resources we need to accomplish our mission, Be Aware and please let’s not beat ourselves up if we miss an opportunity, it will come around again! Can you imagine what type of world we could create if more people truly lived their passion/mission. What could be the possibilities for this planet? I invite everyone to connect to their true self and live their Wildest Dreams and you will become a millionair/billionair!
By Teresa Proctor on 05/15/2008 7:04 pm
Teresa Proctor
Mary, I am in the process of writing a book and starting a foundation, which will empower Women with the tools and skills to speak their truth in a manner in which they can be heard. Not only in this country but worldwide. I believe that every woman no matter who she is, greatest desire is to feeling safe, secure and to be able to provide this for her children. I believe that by empowering Women, our sons will learn to respect Women and our daughters will learn that they deserve to be treated with respected always. By women speaking their truth and being heard we have the ablitiy to end hungrier, to end violence against Women, to eradicate treatable disease, etc. etc. and hopefully one day to live in a worldwide society that values women as equals! Any Ideas?!
By Teresa Proctor on 05/15/2008 7:21 pm
christina haskin
I have written a book about ballet crafts ” The Dancer’s Book of Ballet Crafts,” which was published by Creative Homeowner and is in the stores and on Amazon.com. I designed most of the crafts in the book and did the water color illustrations. I have now spend energy on publicity and have gotten some success in several newspapers, Dance Magazine, Greenwich Magazine, Pointe Magazine and a nice comment from Clive Barnes. I have gotten lovely feedback on the book but now want to figure out how to use this new platform to create more success with writing more books or designing my own line of ballet craft designs etc. but am not sure how to take the next step to capitalize on this exposure. I want to keep my momentum going rather than let this publication of the book be a single successful incident. I also have a public access talk show that has been a hobby of mine. I interview people in the arts and produce shows on subjects that interest me. I have done this TV project on a voluntary basis and don’t make any money at it. I have just gotten divorced and now want to think of creating a life where I can support myself using my talents and creating my own statement. If you have any suggestions I would appreciate it.
By christina haskin on 05/16/2008 1:33 pm
Lindsay Finnen
Sister, Teacher, Friend, I am so grateful to have stumbled upon this posting. I have been gathering research on two ventures I would like to embark upon. One being profit related, and the other benefiting from the business and sharing the benefits with children that may not normally get the opportunity to participate in cultural studies such as classical music, dance, art including photography, through a 501(c)3. The 501(c)3 would also provide scholarships to children to perhaps take a martial arts course, or any course offered outside of school that their parents may not be able to afford, as well as any instruments they may be interested in learning, and in any other circumstance would not be able to. I have some questions on organizing, and perhaps have come to a block, in so much as I am not sure in which portion to tackle first. Would one be more practical or the other? Also…I have never done anything such as this before, and it is so near to my heart, that fear creeps in and I do not want to let anything hinder my progress, including my fear! My expectations are so high…I imagine all the children’s faces beaming with potential, from the opportunities I and my friends, family, and colleagues were able to provide…it just has to happen!!! Thank you so much for taking the time, and giving women the opportunity to further the goals, and reach their dreams! Lindsay
By Lindsay Finnen on 05/20/2008 1:19 am
Aliyah Marr
I love what you said about artists. I have written a book called Parallel Mind about how to think like an artist. I would love it if you would read it, and maybe write a blurb. (This book is looking for a print publisher, and so needs recommendations.) Give me a shout if you want me to send you a printed version (available soon) or the pdf version (available sooner). To see excerpts from the book: http://parallelmind.wordpress.com If anyone else wants to read it, I will send them the first chapter in ebook format free. Just email me from the email address on the blog site: amarr_letter at yahoo.
By Aliyah Marr on 05/20/2008 7:34 pm
Liza D 08 .... beta
I don’t have a much money but I will buy your book. Can I buy it off this site? or should I go to one of the book sites?
By Liza D 08 .... beta on 05/21/2008 10:17 pm
Liza D 08 .... beta
TO: Mary Wells I don’t have much money but I will buy your book. Can I buy it here or should I go to one of the book sites?
By Liza D 08 .... beta on 05/21/2008 10:20 pm
Sabrina Lynn
Wow, Thank You. Will get the book. Majored in Advertising (well, minored) and then switched to Nursing - stable etc. Loved the book ‘I can sell you anything’ that my Dad introduced me to years ago. He is the best salesman on the planet, but will only work for himself. A little limiting, to say the least. ps - Ms. Wells, if you are still using clearasil, I would bet a dinner at Elaine’s (or a hot dog stand) that you have Acne Form Rosacea, not adult acne.
By Sabrina Lynn on 05/23/2008 9:23 pm
Sabrina Lynn
Clearasil Retraction (one of the other Wow Women - Sorry!)
By Sabrina Lynn on 05/24/2008 11:07 am