There is one thing that the rich and successful know that the average person does not understand.
And if you want to become successful – whether it be in business, investing or just in your personal life, it’s very important for you to understand this concept, because it’s the reason these people are rich and successful in the first place.
This secret can be summed up in these simple words: “We are what we repeatedly do.”
What this really means is that excellence is not an act, but a habit.”
In fact that’s one of the reasons I’ve written the book Rich Habits, Poor Habits.
Tom Corley, my co author and I found that the Rich have gone through the process of developing Rich Habits.
And you can also succeed in life and become rich if you make up your mind to do the same and develop Rich Habits.
So, let’s look at 8 of these Rich Habits of the richest people in the world to help you make up your mind to make these habits yours also.
1. They are goal setters
Rich people set goals that make them rich.
You see…you just can’t become rich by accident, so Rich people are very deliberate.
They set specific goals to become rich and then their Reticular Activating System – their internal GPS in their brain – helps them steer their way to success and eventually achieve those goals.
It finds the information, the mentors and the associates they need to achieve their goals and at the same time filters out much of the white noise that would distract them along the way.
The act of specific goal setting is critical to their success.
2. They exhibit “grit.”
There are so many distractions coming at us all the time, but the Rich have set themselves outrageous goals and they stay focused, directing all their activities and efforts towards achieving that goal until they accomplish it.
Along the way they exhibit grit, they are persistent.
Fact is…Rich people don’t give up.
About 90% of Rich people today did not become rich the way they originally thought or intended.
They tried, they failed and they rose up again many times before they eventually succeeded.
Along the way they experienced multiple failures, yet they get up one more time and took another step towards their goals.
On the other hand, the average person often has no focus and tends to do whatever comes their way and take whatever life hands them.
If you want to be rich, become goal oriented and stay focused.
3. They continually learn and grow
The more you know, the more you earn.
Your learning power determines your earning power.
As much as it is important to work hard, hard work alone won’t make you rich.
Before money can be earned, value must be given in return and the only way to add more value to your clients, customers or for your employer is by first adding more value to yourself.
This can only be done through continuous learning.
Develop the Rich Habit of developing new skills and gaining more experience every day.
4. They work very hard
I have not met any lazy rich person.
Well that’s not exactly true – I’ve seen some exceptions who have inherited their money.
But is hasn’t lasted.
Contrary to what the Poor think, Rich people work very hard until they’ve built up a substantial asset base, or property portfolio or business so they don’t have to work hard any more.
And then they generally keep working hard because they enjoy their work whether they are investors, self-employed, or even employees.
5. They spend less than they earn
The Rich have good money management skills and as simple as this may seem, they understand that one of the secrets to getting wealthy is to spend less than you earn.
The problem with poor-thinking people is they increase their expenses as their income increases.
And often the month runs out before their money does so they spend the money on their credit card limit thinking it is theirs – and it isn’t!
They have to pay the bank back, with interest.
As Warren Buffet said: “Do not save what is left after spending, but spend what is left after saving.”
6. They take calculated risks
Rich people understand the importance of taking risks.
Once they decide they want to get something, they will do whatever it takes to get it, even if it means taking risks.
If you want to become rich, don’t be afraid of taking calculated risks. risks.
Be bold and courageous.
Know what each decision will cost you and never put all your eggs in one basket.
7. They keep rich company
As the old saying goes, “Show me your friends and I will tell you who you are.”
Rich people associate with other rich people who help stimulate them to further success.
8. They are generous
Fact is…you can’t be wealthy if you’re not grateful what you have.
Rich people are grateful and generous.
They recognise that once you reach the top you need to send the elevator down to bring the others up.
If you look at the lives of the richest people in modern history, you will discover that a lot of them are great philanthropists: people like Warren Buffet, Bill Gates, Carlos Slim and Mark Zuckerberg to name a few.
Make giving one of your habits today and you will become very rich someday, too.
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