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6 Secrets Millionaires Know That You Don't

Ever wonder what it takes to build a million-dollar business? Get the scoop on how successful entrepreneurs do it, and you may soon be one of them.

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This story appears in the October 2006 issue of Start Up.

Many new business owners look at successful entrepreneurs and envy their million-dollar lifestyles and accomplishments. "If only I knew their secrets," they think. "Why isn't my business as profitable or growing as fast?" The secret is simple: It's not hard work or long hours; it's acting like a CEO, no matter what the size of your enterprise.

CEOs expect a payoff for every venture. Millionaire entrepreneurs focus on the business practices that create the biggest results. When you choose how to invest your time, money and resources, you should ask "What's the payoff?" Once you make that investment, if the return is insufficient, find a way to make that project profitable, or ditch it.

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