Why do the rich find success year after year? It’s not because they are lucky. It’s not because they were born into money. And, it’s not because they won the lottery.
According to Entrepreneur.com, the rich keep getting richer because they simply do things differently. They have five habits that helped them get rich.
They take risks
Successful people take the risk to fail. They know that trying is more important than failing because they know that failure is part of the discovery process in learning what works. Challenges and bold ideas invigorate the wealthy to reap great rewards.
Mark Zuckerberg says that it’s risky not to take chances. “In a work that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks,” he told a group of entrepreneurs at Y Combinator’s Startup School in Palo Alto, California.
They invest in themselves
Wealthy people look at money spend on personal and professional development as an investment, not an expense. Whether it’s purchasing a book, joining a paid mastermind group or hiring a coach, they understand that strategically investing in themselves produces a greater return than any stock, real-estate investment or business venture.
Daren Hardy, former publisher of SUCCESS Magazine, said: “Every dollar invested in your personal development adds $30 to your bottom line over your lifetime.”
They associate with people they want to emulate
Successful people wholeheartedly ascribe to the notion: “If you want to be rich and successful, hang out with rich and successful people.”
According to self-made millionaire Steve Siebold, exposure to people who are more successful expands your thinking and can catapult your income. Who you hang out with matters more than you may think. In fact, who you choose to surround yourself with could even affect your net worth, Siebold says.
They have a dedicated morning ritual
Most of the multi-millionaires have a dedicated routine, that they do each and every morning. It might include exercise, affirmations, goal reviews, breakfast or whatever else helps them start their days with a bang. They start strong, accomplishing more before noon than more people accomplish in a week.
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They consistently review their goals
Extremely wealthy people have daily goals. While many business people reject the value of goal setting, the rich clearly define goals and continually review them to track their progress, make changes and develop strategies for meeting those goals. Immediate feedback reminds them daily of where they are headed and the roadmap that leads them to their destination.
According to Idan Shpizear, who put $3,000 into a business that is now worth $27 million: “When people focus on their goals, it usually makes the difference between survival and success.”
Shpizer’s advice – if you want extreme wealthy, set out goals early in the morning and aim to achieve them by the end of the day.