The Three Personal Skills That Make Millionaires (According to Those Who Have Made It)

1. Character: The Foundation of Trust and Long-Term Success

When studying self-made millionaires, one thing becomes apparent: character matters. It’s not just about being a good person—it’s about being someone people can trust with their time, money, and opportunities.

Billionaire entrepreneur Warren Buffett once said:

“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”

Most successful people prioritize integrity because they know that in business, trust is currency. Investors won’t put their money into a company run by someone they don’t trust. Customers won’t buy from a brand they feel is dishonest. Employees won’t stay loyal to a leader who lacks integrity.

From what I’ve observed, character shows up in three key ways:

A. Keeping Your Word

Millionaires often credit their success to being reliable. They do what they say they will do—even when it’s inconvenient. This builds strong relationships, which leads to better business deals, partnerships, and opportunities.

Take Elon Musk, for example. Whether people love him or criticize him, one thing is clear: he delivers on ambitious promises. Even when deadlines get pushed back, he continues working relentlessly until Tesla, SpaceX, or Neuralink achieves what he set out to do.

B. Making Ethical Decisions

Many millionaires face ethical dilemmas along their journey, and those who succeed long-term tend to prioritize doing the right thing—even when it costs them in the short term.

For example, Patagonia’s founder, Yvon Chouinard, built a billion-dollar outdoor brand while maintaining ethical business practices. He reinvested profits into environmental causes and made decisions that aligned with his values, rather than taking shortcuts for quick gains.

C. Learning from Failure Instead of Blaming Others

Millionaires don’t see failure as an excuse; they see it as a lesson. They take responsibility for their mistakes and use them as a stepping stone.

Consider Sara Blakely, the founder of Spanx. Before she became a billionaire, she faced years of rejection. Instead of blaming the world, she kept refining her ideas until they finally succeeded.

Developing character isn’t just about being “nice” or following rules. It’s about proving to yourself and others that you are someone worth betting on.

2. Communication: The Ability to Influence and Persuade

Studying millionaires reveals something interesting: they aren’t necessarily the smartest people in the room, but they are often the best communicators. They know how to express ideas clearly, persuade people, and build strong networks.

Even billionaire investors like Ray Dalio emphasize the importance of communication. He believes in radical transparency—a communication style that ensures ideas and feedback are shared openly to improve decision-making.

But communication isn’t just about talking. It’s about how well you connect with others. Here are a few ways millionaires develop this skill:

A. Mastering the Power of Words

Successful people choose their words carefully. They understand that the way they phrase things can inspire action or cause confusion.

Take Jeff Bezos, for example. When he built Amazon, he didn’t just talk about selling books online. He communicated a bigger vision—creating the most customer-centric company in the world. That clear message attracted investors, employees, and customers.

B. Becoming a Great Listener

Many of the wealthiest people aren’t just great speakers—they are exceptional listeners.

Richard Branson, the billionaire founder of Virgin, credits listening as one of his biggest secrets to success. He believes that paying attention to others—whether customers, employees, or partners—gives you an edge because it reveals valuable insights that others miss.

C. Learning to Sell and Negotiate

If there’s one communication skill that stands out, it’s the ability to sell.

Every successful person is selling something—whether it’s a product, an idea, or a vision. Grant Cardone, a multimillionaire entrepreneur, often says, “If you don’t close deals, you stay broke.”

Sales skills aren’t just for business owners. If you want a raise, you need to sell your value to your employer. If you want investors, you need to sell them on your vision. If you want to build an audience, you need to sell your message in a way that people want to hear it.

No matter what industry you’re in, strong communication skills create opportunities. The better you can articulate your ideas and influence others, the more doors will open.

3. Confidence: The Mindset That Drives Action

One of the most striking things I’ve noticed when studying millionaires is their level of certainty. They aren’t always the smartest or the most talented, but they believe in themselves enough to take action.

Confidence is not arrogance. It’s the belief that you can figure things out, even when you don’t have all the answers.

A. Confidence Comes from Competence

Millionaires don’t just fake confidence. They build it by becoming competent in their field.

Take Michael Jordan, for example. His confidence didn’t come from talent alone—it came from years of relentless practice. The same applies to business. The more you develop your skills, the more confident you become.

B. Overcoming Self-Doubt

Most successful people had moments of doubt before they made it. The difference is, they acted despite fear.

For example, Howard Schultz, the man who built Starbucks into a global brand, was rejected by over 200 investors before he got his big break. If he had let doubt control him, there would be no Starbucks today.

C. Surrounding Yourself with the Right People

One thing I’ve noticed in millionaire interviews is that they are very careful about who they spend time with.

They surround themselves with people who think big, take risks, and challenge them to grow. As entrepreneur Jim Rohn famously said:

“You are the average of the five people you spend the most time with.”

If you spend time with people who are negative, complacent, or skeptical, it will affect your mindset. If you surround yourself with ambitious, forward-thinking individuals, your confidence will grow.

Final Thoughts: Learning from Millionaires, Even If You’re Not One Yet

I’m not a millionaire (yet), but from what I’ve studied, these three skills—character, communication, and confidence—seem to be recurring themes in the lives of those who have made it.

They aren’t just business skills. They shape how successful people think, behave, and make decisions.

Even if financial success isn’t your primary goal, these skills will help in every area of life. They lead to better relationships, stronger leadership, and greater opportunities.

The best part? These skills can be learned.

Anyone can develop character by keeping their word and acting with integrity.
Anyone can improve communication by learning to listen, speak clearly, and sell ideas effectively.
Anyone can build confidence by taking action, overcoming self-doubt, and surrounding themselves with the right people.

The path to success isn’t just about money—it’s about becoming the kind of person who attracts success. That’s what I’ve learned from studying millionaires. Now, the real challenge is applying it.