In 1900 there were fewer than 5,000 Millionaires in the United States. According to Forbes.com today there are nearly 8.4 million Millionaires and 413 Billionaires.  But I think we are frequently mistaken about how people get to be millionaires in America.

Here is a list of how people accumulate wealth in America.

74% Self-Owned Business. This includes typical entrepreneurs, real estate agents, etc. You don’t have to reinvent the wheel or patent something to be very successful. Three of the most common millionaire producing businesses in the United States are dry cleaning, vending and printing.

10% Senior Executive Positions.  People like Bob Iger, CEO of Walt Disney who was paid $53.3 million in 2011.  In today’s work environment, longevity and seniority are not necessarily going to be rewarded. Results are what get noticed, so these senior executive positions may be filled with a newcomer. CEOs, CFOs, and other senior positions may be attained quickly if one can prove his/her ability to get the job done, however, there is little traditional “security” in any of these positions.

10% Doctors, Lawyers, and other Professionals.  Some of these people end up wealthy, but not all. Many who feel the necessity of presenting a certain standard of living, live high consumptive lifestyles, and never accumulate any real wealth. Even high income for services will never make one wealthy. It is only those who live on much less than they make and put some money to work for them who go on to become wealthy.

5% Sales People.  This can be any industry, service or product. There is little connection with educational degrees, licensure, or certification; they are simply people who are very good at selling.

1% Stock Market, Inventors, Show Business, Authors, Songwriters, Athletes, Lottery Winners.  This is a strange realization. The less than 1% category is what gets noticed and talked about; every little kid wants to be the next Tim Tebow, Taylor Swift, Justin Bieber, or Lady Gaga. These rare examples of success, combined with all the other areas listed in #5, comprise less than 1% of how people become wealthy.

Statistically you can go from the 1% category to the 74% category this afternoon by going out, buying a $200 lawn mower, and starting a yard service today. Your real chances of financial success are vastly greater than trying in these rare areas of success.

Remember, you don’t need to reinvent the wheel to have a successful business. Just do something 10% better or provide added value.

1.       Agenda: Prepare an agenda on a power-point slide. Create the slide in advance and load it into the meeting for a visual reference throughout the meeting. Use the annotation tools to highlight and check off items as they are addressed to keep track of time.

2.       Invitations: Use the virtual meeting technology to send invitations. This invitation can then be placed on each attendee's calendar for quick reference to join the meeting on time. The invitation clearly provides the link and the audio information necessary to attend the meeting.

3.       Speakers: Plan who is going to speak when and manage the hand-off from speaker to speaker verbally, much like a radio broadcast. Assign someone to keep track of time and to announce time frame intervals via the chat tool, timer tool, or verbally, depending on what is available.

4.       Communication: Use the audio AND the chat to encourage dialogue. Ensure each attendee has connected to the audio and can, not only hear the meeting, but also be heard. Encourage communication in multiple ways to allow attendees to provide input in a way that is most comfortable for them.

5.       Technology: Use the features of the virtual meeting room to enhance the meeting experience. For example:

If files are being worked on, use share to the application and view the document together, in real time.

If web sites are being referenced, use the web share feature to view the web site in real time.

If brainstorming is on the agenda, use the chat to effectively manage the brainstorm in a quick and organized manner.

If process flow is being developed, use a whiteboard and the drawing tools to demonstrate the ideas together and save it for reference at the conclusion of the meeting.