Many of us flip through glossy magazines, watch TV programs about the rich and famous, envy their lifestyle and wish we had just a fraction of what they do – power, status, millions in the bank, holidays in exotic locales, fancy homes and cars, private jets, children enrolled in top-drawer schools, jewelry, yachts and designer togs. We’ve also probably attributed all this to fate, destiny, luck or something of the kind.
But few of us get a behind-the-scenes glimpse into what it really takes to create the millionaire status. Some of us feel we don’t really deserve it – we haven’t the education, family support, the right job or capital to even think of matching this prestige and position.
So, is it something they’re born with – great genes that set them on the path to success – or stuff they learn? Did they inherit wealth or was it their own efforts that made them so rich? Is it education, experiences, expertise? Did they ever fail? Let’s take a peek into some of their success-causing habits.
Wealth creators success-causing habits
- Energy: Most self-made successful people are high-energy individuals. Contrary to what we assume, not all of them stay up till odd hours, burning the midnight oil. Most of them get lots of sleep and rest. In fact, they refresh and renew their energy stores so that their juices flow throughout the day. All-night binges, sleeping till noon, partying till dawn are what get highlighted on Page 3, but in reality, successful people get lots of rest, exercise regularly and wake early. Often they’re the first ones in at work, because they want to get a couple of hours undisturbed.
- Self-improvement: Most wealth-creators strongly believe in constant self-improvement. They read, keep themselves up-to-date on current events world-wide, follow the news, watch the stock-markets and have information. They stay informed about their own fields, innovations and trends. They also read for pleasure, since they tend to travel a lot. Exercising the mind is equally important to them. Studies show that nearly 85% of millionaires are readers – and not just of Twitter or Facebook!
- Networking: Rich people tend to hang out together. This is not just coincidence. They share information, exchange ideas and co-operate wherever possible. They also like volunteering, participating in formal/informal groups and expand their pool of resources. While starting out, they read biographies of successful people, closely observed their methods and listened when they spoke.
- Mentoring: The right mentor/teacher/guide/coach can put you on the fast-track to success. It’s possible that you go through a series of bad bosses, nasty teachers, negative people etc. But the trick is to learn from each one and transform what you’ve learned into success. Millionaires were almost always inspired by a charismatic parent/teacher/mentor. They also become mentors to those who come after them and pass on their valuable insights and experiences.
- Think Differently: Millionaires are not different – they just do different things. They also think innovatively, creatively and separate themselves from the crowd early in life. This means that they can create their own crowd or social infrastructure. This is why most of them are entrepreneurs and social innovators. It’s not impossible to become a millionaire by working for a corporation or someone else – but that’s a different game altogether.
- Personality traits: Though millionaires differ widely in personality and habits, some traits tend to stand out. They’re usually patient and persevering. The never-give-up attitude takes them through any kind of failure. Most of them achieve millionaire status in their 50s, (not counting the Silicon Valley variety). Money is what differentiates a millionaire from the man on the street but the wealth-creator views money differently. Many of them are frugal, don’t act rich and live smart, many avoid luxury vehicles, set daily goals and priorities.
- Spread the Risk: Few of them have achieved success with just that One Big Idea. They usually have many tricks up their sleeve and most of them are the masters of Plan B. Studies show that more than half of them have at least three streams of income and they rarely put all their eggs in one basket. They also save or invest prudently. Nearly 20% of their income is put away or ploughed into new ventures.
Conclusion
Wealth-creation and success don’t happen with the wave of a magic wand. They’re usually a combination of hard work, intelligence and education. So the next time you scan the tabloids, give a thought to what went into the making of that person!
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