Some of you may be saying: “Can’t I just do one thing to become a millionaire?”

Well, I wish it were that simple. But the reality is that you have to take a multi-pronged approach in order to gain lasting material comfort and wealth. Just taking one or two steps – or even four or five – won’t get you there and keep you there.

It’s the combination of this seven-phase process, all working together and guiding you toward your ultimate destination, that catapults you to a life of financial freedom.

In case you still need convincing that you absolutely have to work on all seven steps to permanently achieve millionaire status, picture a star basketball player at the height of his game. He’s a pro – but he’s also a veteran.

And with new players entering the league each year, he knows that he’ll probably only be around for a few more seasons at best. For this player, his ultimate dream is to be inducted into the NBA Hall of Fame. To reach that goal, this individual works relentlessly.

He’s constantly tweaking his defensive and offensive game. He practices free throws for hours at a time, works on his dribbling skills, learns to post up well against bigger competitors, has a penchant for knowing when to pass the ball for that all-important assist, and he shoots well from the top of the court too.

Ultimately, this player does get into the Hall of Fame. Do you think this would’ve happened if the player only shot the ball well?  Not a chance. It’s the merging of all his skills and abilities that helped him reach his goal.

Imagine also a beautiful new car. Chances are it runs like a dream.

But it won’t hum along indefinitely if the owner never changes the oil, rotates the tire, checks the brakes, and so forth. To keep the car working – and operating at optimal condition – the owner must do a number of things; not just put gas in the car each week.

Excerpt from The Money Coach’s Guide To Your First Million.