How to get rich
I see clients who have done very well for themselves. Many of them tell me that it’s easier to appreciate things in life when you don’t have money. They say that being rich makes you lose touch with reality. Perhaps that’s why wealthy people do drugs and push the boundaries because the little things don’t matter like they used to. They also tell me that balance in life disappears.
I asked these clients what they believe is needed to get rich and here is a summary of what they told me:
1) Hard work and luck
The harder you work, the luckier you get – the old cliche. It does seem to be true though. Hard work, putting yourself out there and self belief can all make things happen. Sometimes luck is needed though and it can be a case of being in the right place at the right time to make the formula work well.
2) Be self employed
It’s unlikely to get rich on a salaried job. You live according to the amount you get paid and you line the pockets of your employer. Be open to opportunities, Find someone doing what you want to do and copy them but do it better.
3) Revolutionary talk
Find your niche – the less competition the better. The harder it is to copy or imitate the better.It’s a lot easier to come up with something revolutionary rather than try and exploit a tried-and-tested method. A great example – Rubik’s cube. Different times demand different strategies. The tycoons of the 1800’s like John Jacob Astor made their fortunes by trading animal fur and real estate, or in shipping and railways. After that, fuel – such as oil and wood became big business. The 1900’s kicked off with steel. Henry Ford got exceptionally rich with cars. Robson Walton did the same with Walmart in 1962. At the moment – IT and the online market is the money vein to tap into.
4) Building a foundation
In order to rise above the mundane and the boring you need to put in a lot of effort – beyond the 9-5 schedule. But it’s not making the money – it’s about being able to manage and sustain it. Making money too quickly can lead you to losing it quickly too. Build up slowly and conquer each level well before moving to the next.
5) Got it, keep it
It’s not that easy to stay at the top. You have to have the need to achieve not just the need to get rich. The assumption by people who don’t get rich is that those who do are hell bent on making money. It’s not true – they just want to achieve. People who get rich tend to lose the yearning for a Rolex watch. Sure, they’ll have a nice house and drive a nice car but not everyone who’s rich wants those things. Often, rich people are consumed with achieving and happen to make loads of money in the process.
6) The big achievement
Money is less important once you have it. People who aren’t wealthy have many misconceptions about what it is like to be wealthy. There are still problems – they may change in nature but there will always be problems – it’s human nature. High levels of self belief are essential for success and be prepared to become a calculated-risk taker.
There is enough success out there, tune your thinking in to visualising how your life will be. Work hard and don’t give up.