10 Secrets to Get Wealthy

Posted date: 16/12/2022 10:56 AM

• Facebook
• Twitter
• Whatsapp

Like Newtons Law, there are several universal laws and among them “Law of Pareto” or “Pareto Principle” is also a universal law which is otherwise known as the 80–20 principle and the same applies to the wealth creation also.

You believe it or not, 80% of the people having the 20% wealth and 20% among the entire population own 80% of wealth. If you observe all the wealthy people in this entire globe, you can find few similar things among them and those are the HABITS.

All the persons ended with so much wealth creation have some similar habits, out of which 10 most common and important habits can be found below.

1. They Read a Lot & Invest in Learning Continuously.

Bill Gates, the founder of Microsoft reads at least 10 books in a month and it applies to all the successful persons. They not only read, they learn from different virtue whether it’s a person or a situation or certain conditions. In-fact they learn from problems and failures also and problem is the opportunity for them.

2. They Create and Build Assets.

Assets and liabilities are two terms everyone should understand. In simple words, “Asset” is something which makes money for you and “Liability” is something which drains your money. The average people learn academics and professional education, work hard to earn by selling their time and spend the earnings for enjoyment, travelling, gadgets and clothes. Wealthy persons have the habit of creating wealth. They buy assets, build business, create products, technology and meet the requirement of the community, buy the time of average people and create wealth in many folds.

Where average people like to save money out of their income after spending for spending again, wealthy people like to invest first in creating multiple new sources of income and then they spend.

3. They Create Multiple Streams of Income.

Amitav Bachan is known as an actor, Mahendra Singh Dhoni as a cricketer, Mukesh Ambani as an Industrialist, Warren Buffett as an investor and Dr APJ Abdul Kalam as the Ex-President od India. These are their identity, but not their only profession or the only source of earnings. They tend to make revenue from multiple sources. Warren Buffett has 17 sources of income while Jeff Bezos and Mukesh Ambani has more than 10 sources of income. If you have nothing to invest, then also you can have at least 5–7 sources of income if you invest in learning only.

Warren Buffett says, the best investment you can do is the investment on you. In order to invest on yourself, you have to understand the difference between “Investment” & “Expenditure”.

Study shows that average millionaire have 7 streams of income and the commonest streams are:

· Business Income

· Dividend from Stocks.

· Interest payment from Bonds.

· Capital gain from Asset Sales.

· Royalty from Intellectual Properties.

· Rental income from Real Estates.

· Earned income from a career, consulting, coaching or training.

I have set up to 4 streams of income till now, though the amount of earning from each streams are not so big. To know more about multiple sources of income and become a part of our internal community, you can join us here.

4. They Inspire People with their Knowledge & Experience.

To become wealthy, you need people to join with you and do business with you. For this reason, wealthy people inspire a countless people to be associated with their vision.

e.g. In 2016, Mukesh Ambani has gave birth to one of his vision called Jio and his vision inspired thousands of businessmen and lakhs of employees to join them. Those lakhs of stake holders thrown a number of companies out of the market to make Jio not only the number one in the market, rather the only one in the market. In this process, they inspires others to invest money, time and energy in building something meaningful.

If you feel you are the person of that category, you need to boost yourself and if still you are not clear where and how to start, you can book a FREE session here.

5. They Master in People Skills.

Wealthy people have great habits of dealing with people. They are skilled in managing people and their emotions and making people like them. People also have trust on them as well as their products/services. They can read people’s mind, access their needs and build products around their needs. People believe in their integrity and morals. They are always interesting and attractive towards people. Almost all the wealthy persons are good public speakers.

6. They Learn Emotional Intelligence.

Wealthy people almost all have high IQ, but simultaneously they are also enriched with high EQs. It’s very much important to have EQs to have self-control and self-discipline to manage the ego and impulses to be more productive. Making good habits are equally necessary with making money to sustain the success and create more wealth.

7. They never Quit.

It’s a very common trait among all the wealthy persons and that they never quit until they succeeded. Perseverance never guarantee Success, nut quitting guarantee failure. Wealthy people has the habit of perseverance and trying one more time whether they succeed or failed.

8. They put High Value to their Time.

Time is one of the most valuable assets of wealthy people. They spend and utilize their time very wisely. Ordinary people pass their time while wealthy people utilize their time. Why ordinary people pass the time? And what we usually pass? We pass the waste products like urine and stool. For those, time is a product to waste, they pass it. But for those time is an asset, they utilize it wisely and they are the wealth creators.

9. Business is the Primary and End Hobby for them.

Game or sport is something in which a player plays, enjoys it and try to win at the end. Wealthy people like to play the game of business and tend to win in their industry. Business is primary game for them and in this game, they want to play it, keep ahead in the race, put their effort to win it and ended with starting a new game of business. You can say, it’s a cycle for them.

10. They find Solution to a Common Problem and Build Business around it.

Where there is a problem, there is a challenge, where there is a challenge, there is change and where there is change, there is a solution. Again, where there is a solution, there is an opportunity and these wealthy people never miss the chance to grab the opportunity to solve the common problem. But in order to do that, they always search for the problem around them, while average people want problem to be get out of them.

So before concluding, I just want to summarize that, if you want to be wealthy and among the 20% of the population, you need to change your habits, change your vision and adopt the changes.

If you have reached at this place means, you are a winner and here is a bonus for you. You can own the Knowledge Business Blueprint course worth Rs 3999/- at FREE here.

You may also follow us at Instagram & Facebook.

Latest Post