Just over 30 years ago I began my study of rich and successful people.
Of course, not all rich people are successful, and not all successful people are rich; but remember I was much younger and more naïve then and wanted it all.
I tried to understand why some people were rich while others kept struggling financially.
years I attended many seminars, paid mentors and read as many books as I could on the topic of success.
I modelled successful people and eventually grew successful myself.
It wasn’t easy, I’ve had my challenges in life (mostly self-inflicted) and I’ve hit rock-bottom, but I got up again, learned from my mistakes and moved forward.
And for well over a decade I’ve mentored over 2,500 successful (and some not so successful) investors, business people and entrepreneurs.
In fact, a by-product of this is our top selling book – Rich Habits Poor Habits
In it, Tom Corley and I explain how being rich has little to do with the money itself
Instead, it has a lot to do with how you think about money.
So, if you want to become rich, one of the first steps is to know how the wealthy think about money differently than you do and to start thinking like them.
The next step is to take action, and to let the action become natural by thinking the way wealthy people think.
We’ve found rich people share similar habits.
While we explain this in some detail in our book, in today’s podcast we begin a series where we discuss…
21 Success Habits of The Rich ….
Here are the ones we discuss this week…
- The average person thinks about spending their money, while the rich think about how to invest their money.
- The average person worries about running out of money while the rich think about how to use their money to make more money.
- Most people believe hard work makes you rich, while the rich know that leverage creates wealth.
- Successful people don’t procrastinate. They don’t spend their life waiting for the ‘right time’ or waiting until they know it all or have figured everything out.
- The average person believes having a job gives them security. The Rich know there’s no such thing as “job security.”
- Most people want to be rich. The Rich are committed to being Rich. (They are very different things.)
- When things go wrong, the Rich find a lesson, while others only see a problem.
- The average Australian sets their financial expectation low, so they’re never disappointed. On the other hand, the Rich set their financial expectations high so they’re always excited.
- Successful people take calculated risks – financial, emotional, professional, psychological. But once they’ve built their wealth, they take fewer risks.
- The Rich consciously and methodically create their own success, while others hope success will find them.
- The Rich look for and find opportunities where others see obstacles.
- The average Australian believe life happens to them. They are a passenger, while the Rich believe that they create their own destiny. They are the pilot of their lives.
- Successful people align themselves with like-minded people. They understand the importance of being part of a team. They create win-win relationships.
Links and Resources:
Some of our favourite quotes from the show:
“We all can, in the countries that most of the people who are listening to this podcast, become financially independent, become wealthy, if you know how the wealthy think, if you learn about their habits, and if you start doing what they do and thinking what they think.” –Michael Yardney
“If your money’s not working while you’re asleep, you’ll never get rich.” –Michael Yardney.
“It’s those who get up again, who find a lesson in their mistakes, who find a way of overcoming them who do well, while the average person sees it as a problem and they don’t get up again.” –Michael Yardney
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