Stuck In Your Ways
Many people dream of one day becoming rich. Unfortunately, only a select few actually make this goal a reality. The path toward financial success isn’t easy, although some make it look like a walk in the park. If you have a goal of increasing your income, it’s good to be aware of how your actions are influencing your progress.
There are certain traits that characterize the majority of wealthy citizens. It’s not simply their actions, but also their intentions and drive that get them where they are. For others, these characteristics seem to be lacking and could be a clue as to why their goals aren’t manifesting. Here are some signs that you’re not setting yourself up for wealth, as well as some signs that you are…
You Work A 40-Hour Week
As Albert Einstein would say, doing something the same way over and over, and expecting different results, is the definition of insanity. In business, this concept is spot on. In order to be successful, it’s absolutely essential to try new things. The reality is, only one way of doing something won’t always work. Those who’re willing to adapt to their current situation will be the most successful.
Even if an idea seems perfect at the time, the world is constantly shifting, and developing new needs to be addressed. The way to find the best course to take is by trying lots of options, and accepting the inevitable failures that’ll occur on the road to success. If this seems scary, just take the first leap, and trust that answers will come.
Fear Of Failure
Many people like to emphasize a healthy “work-life balance.” While self-care is important for one’s health, the reality is, most millionaires got to where they are because they were willing to put in many hours of work. There’s a book titled The 4-Hour Work Week. While this book has some valuable information, the ability to get rich from a 4-hour work week is something people achieve only after years of 60 to 100-hour work weeks.
Once you build a foundation for yourself, you’re equipped with the ability to delegate tasks to others, and keep your workload to a minimum. Getting to a place where you can do this takes a lot time and effort, and it certainly won’t be easy. However, after years of putting in the work, success begins to present itself to you.
Unwilling To Move
If you have a fear of failure, your likelihood of becoming rich is slim. Failure is essential to the process of success. We’ve all heard the classic story of someone coming from humble beginnings, and then becoming a millionaire. Failure teaches many lessons that equip you with knowledge that allows you to deal with future setbacks, and find ways to recover.
Learning to overcome failure is fundamental to the process of financial success. If you know that you can pick yourself up and make the situation better, you have what it takes. On the other hand, when you live too safely in order to prevent failure, your life becomes stagnant rather than progressive. Only those who take risks truly have what it takes to reach the top.
Not Reading
Your location may be keeping you from diving fully into the work you need to be doing to maximize your goals. For instance, the job opportunities in a place like Idaho have nowhere near the potential of those in New York. This isn’t always an issue, as some can work remotely, or find a local niche. The point is, staying flexible in order to be where you can be most productive is very wise if you’re looking to grow your business.
Digital nomads have the luxury of working wherever they are. While some are very successful in this realm, many find it difficult to make as much as they would like doing freelance work. However, the freedom that comes with freelancing can make one feel rich in other ways. Ultimately, the ideal location will differ for each person and their specific needs. For some, it’s more important to be near family than to make as much money as possible.
Hourly Wage
The most successful people have a hobby in common: they all read. Whether they’re non-fiction or self improvement books, those who succeed are almost always bookworms. Bill Gates, for instance, announces the list of books that he read each year. Oprah Winfrey, similarly, is known for her famous book club. When someone reads a lot, it shows that they’re open to learning new information.
Readers tend to be open to questioning what they think they already know, as there are always more ideas out there, and new ways of looking at a situation. These new perspectives may be just what they need to solve a problem they’re having. So check out some of Bill Gates’ and Oprah Winfrey’s favorites, and get your nose in those pages.
Not Following Through
As mentioned above, most people who become rich are willing to work more than 40 hours per week. However, working several jobs in order to get there doesn’t always cut it. Most side hustles are lower paying jobs. Many try to maximize their income by working full-time jobs during the day as well as a part-time night job. The issue with this scenario is that you’re always working.
There’s no point in making money if you never get to live your life. If you truly want to make good money, you have to work a job that pays for results, not for time. Everyone is given the same amount of time in one day. The ones who’re able to make a lot of money are the ones who can turn a profit in a short time. People who do this don’t get paid hourly. It’s the results that really matter.
A Fear Of Public Speaking
Even if you have lots of good ideas, if you don’t follow through, nothing will ever come of them. One example could be feeling inspired to sell crafts on an Etsy store. You get the fabric and sewing machine, but don’t find the motivation to market yourself and grow the business. If you don’t take all of the necessary steps, the idea won’t work out.
On the other side, those who become financially successful have an idea and see it through to the end, as long as they see it as worthy of the effort. If they recognize that the idea wasn’t good enough to begin with, they’ll move in another direction so that they are sure they are following a path toward financial abundance.
An Avoidance Of Phone Calls
Our modern world makes it so that it’s possible to get rich from behind a computer screen. However, if you want to take your success to the next level, you’ll eventually have to be able to present yourself to an audience – which means that, eventually, you’re going to have to speak in front of a crowd. The most memorable business people are those who can make a good product, as well as a good speech.
This trait doesn’t always come naturally for everyone. In fact, many entrepreneurs hire a coach to help develop their speaking skills. Public speaking is a skill that must constantly be cultivated and improved. If you have a goal of becoming rich, consider taking a class on effective public speaking. You can also use online resources, as well as an organization called Toastmasters International, where people can practice with each other.
Seeking Approval
Because the internet has made it so easy to never have vocal conversations with others, many resist the idea of talking on the cell phone. For some, it elicits anxiety, as people would much rather just use text or email. In the realm of business, especially in high-level positions, it’s essential to have phone calls often, as they’re quick and efficient.
If this brings feelings of fear for you, upon receiving a call, give yourself a moment for a deep breath. Keep the knowledge in your mind that this call will help you to move closer to your goals, and that you’re having this call because you’re important. It’s also vital to listen closely to what’s being said so you don’t cut anyone off or misspeak.
Pursuing Dreams That Aren’t Yours
When you make a goal for yourself, it should be because you want it to happen, not for anyone else in your life. If you’re making goals based on the wants of family, friends, or partners, you won’t truly be fulfilled by its completion. Instead of seeking validation from others that your goals are important, know in yourself that they are for you.
You may be seen as strange by some people, but it doesn’t matter as long as you’re doing what you love. Even if the people in your life support your goals, they may find some of your actions to reach them unconventional as well. As long as you feel confident in what you’re doing, you can find all of the approval you need from within.
Always Late
Many receive pressure from various sources, notably parents, to become a doctor, a lawyer, an engineer, or pursue other sought-after career paths. Unfortunately, many give into this pressure and follow dreams that are not theirs. This ultimately leads to feeling unfulfilled and burnt out, simply to satisfy the wishes of others. This also applies to education. Many go to college even if it doesn’t interest them, leaving them with student loans and lost years.
If you’re constantly living a life that others want you to live, you’re unlikely to have the motivation to become successful. Even if you do, you won’t be happy. What’s the point of making loads of money if you’re living a life that you don’t want? The path to financial success comes with a lot of hard work and drive. If you put this drive into working towards something you don’t want to do, it’ll take more away from your life than it’ll give.
Expecting A Miracle
The top professionals know the importance of being on time. Being punctual makes you look organized, and shows respect to the people who’re waiting for you. It’s important to remember that when you’re late, you’re not only missing an opportunity to make decisions and take actions, you’re also wasting other people’s time, which doesn’t ever leave a good impression.
By arriving on time, you let others know that you care about their needs. Some people purposely arrive late out of a fear of being early, so as not to have to sit around awkwardly waiting for others to arrive. If you’re anxious about making small talk with your colleagues, know that this is better than hurting your reputation with them by being late.
Not Liking Your Job
Nowadays, many discuss the concept of “manifesting” your goals into existence. Some like to create vision boards, and hold a strong intention for an outcome to happen. While it’s very important to have faith in yourself and your own power, it’s even more important to realize that this isn’t always enough. However, when you have a manifestation and pair it with intentional action – that is where you see results.
Don’t rely too heavily on a higher power in order to make your goals become a reality. By doing this, you give up your own power and will to make something happen. Just waiting for a miracle is like expecting to win the lottery; it’s not very likely. Be clear with your intentions, but don’t forget about what must happen in order to realize them.
Putting The Needs Of Others Before Yours
Some studies indicate that the majority of people nowadays don’t like the work they’re doing. Often, jobs that pay lower wages are very demanding, and people don’t receive the appreciation they’d like. For these people, work is associated with pain or resentment. This doesn’t set you up to be successful in your work. If you don’t enjoy something, it’s very difficult to do it well.
Those who thrive in their work are those who feel excited about the work they’re doing. If you don’t enjoy whatever it is that you’re doing, it’s time to switch careers, or find a position that suits you more. Not everyone can thrive in every situation, as humans are very diverse and have different things they need in order to flourish.
Trying To Master Everything
Caring for other people is very admirable. It’s important to care for those around you, who you love. However, there must be a balance when it comes to this. By constantly thinking of others, it becomes easy to forget your own needs. This leads to neglecting your goals and passions, and constantly putting them on the back burner, never to be addressed.
Though it may sound selfish, the only way to make money is by taking care of your needs first. When you do this, you can accomplish more, allowing you to provide more to those that you love. No, you shouldn’t give up on everything that needs to get done in your life. But remember that your goals matter, and it’s up to you to seize the day.
Too Much Saving
Acquiring many skills can add a lot of value to your life, and allows you to do work in a variety of fields. However, if you do this forever, you’ll spread yourself a bit thin. While it’s normal to take on multiple jobs in the process of achieving wealth, doing this forever will leave you burnt out, making your job take away from your life rather than adding to it.
At some point, it’s wise to hand some duties off to others and focus on what you do best. If you’re doing your best work, and everyone in the operation is doing their best work, everything is usually going to be accomplished efficiently and effectively. Regardless of your type of work, investing your time in the cultivation of one talent is very wise.
A Lack Of Financial Goals
Saving is definitely a valuable investment of resources. However, a constant awareness of your limitations is sure to keep you from focusing on ways to grow a business or skill. Those who don’t have much might try to think of all of the ways to cut corners. This can be valuable in some cases, but it won’t put you in the mindset of expansion.
Those who find ways to make money after coming from poverty are those who start with small steps of investing their money wisely. You don’t need to go big to make an impact. The first steps in any big project are the baby steps. If you want to become successful, transition your lack mentality into an abundance mentality, so that you know in yourself that money will come to you if you make the effort.
A Lack Of Discipline
The dream of becoming rich is shared by many. The thing is, “rich” means something different for each person. If you want to be clear with your goals, you need to know exactly how much you want to make. “Rich” isn’t a quantity, so it isn’t a reachable goal. Not knowing what you want to make is like building a house with no blueprints.
Start with goals that are achievable, then outline the necessary steps to take in order to reach them. Even if you’re not able to reach a goal, you can at least analyze what went wrong and think about changes to make in the future. Also, appreciate your accomplishments, even if they’re small. If you made even a little more than you did the year before, that is progress.
Satisfied By A Paycheck
If you expect everything to come easily, you’re set up for failure. All of the best things in life are worth fighting for, and working hard to get. The phrase “practice makes perfect ” couldn’t be more true. You won’t become an expert overnight, or even in a year. A truly successful person is always practicing, and developing their skills.
A lack of discipline may also lead to giving up when times get tough. If you’re not driven to succeed, you may feel that you can’t possibly continue after a small hiccup in your plans. If you want to make something happen, it’s important to constantly remind yourself that it’s not over, and that there are ways of fixing the mistakes.
A Lack Of Investments
Many feel content following a normal schedule at a 9 to 5 job because they can rely on that weekly check. This is a perfectly understandable notion, as people need money in order to raise a family and make a life. However, for some, clinging to the reliability of these paychecks can be debilitating if it keeps you from growing. Many people who get rich are willing to sacrifice the security of a paycheck in order to find something more.
These people know that there’s a risk associated with this, but the potential for expansion is worth it. When starting a new project, income will be unpredictable. It’s possible to go some time without a steady income – potentially even years. But if you never take that leap to try something new, you can never create anything. Don’t let yourself get stuck in the comfort zone. Push yourself to find greatness.
Lack Of Motivation
Investing in the stock market is one of the best ways to multiply your income. Many people who stay at a lower economic level are those who don’t have the knowledge or expertise to start investing their money. If you feel like you don’t know where to begin with investing, there are many online resources where you can learn solid strategies.
Investing is like putting your money to work for your benefit. Almost every person who’s rich knows the value of this concept, and has taken advantage of it at some point. Additionally, most rich people know to have a diverse portfolio of their investments, so that their money – and their risk – is diversified. This way, if some investments don’t work out, others likely will.
Not Trusting Yourself
If you wake up in the morning and wish you didn’t have to go to work, getting your work completed will feel like a chore. Those who find the most success are the people who’re excited to do their work. They find the motivation to work because their work challenges them and feels fulfilling. If you have a lack of motivation, it may be time to make a change in your career.
The first step in finding what will fit for you is asking yourself what brings you motivation, and what activities make you feel motivated. This could even be as simple as feeling motivated when you don’t have to commute to your job. Begin with some of the smaller aspects of your life to start to understand how you can set yourself up for success.
Talking The Talk
Unfortunately, one of the biggest issues keeping many people from financial success may be a lack of self worth. When you don’t believe that you have the power to do something, every action you take will be made with that mentality. This very often will lead to decisions that don’t truly serve the best interests of either yourself or your business.
This will ultimately lead to failure if you can’t find a way to see your own worth. Rather than beating yourself up if something isn’t working out, see it as a learning opportunity that will make you even better equipped to do your job in the future. Those who’ll eventually be successful accept mistakes and know that they’re still worthy of success.
A Long Commute
Many people will spend lots of time discussing their future goals and endeavors. The issue is, they never actually take action. You could have the best ideas in the world, but if you don’t act, it doesn’t really matter. If you find yourself bragging about all you have planned for your success, stop the chatter and make it happen. Actions speak louder than words.
This is a similar phenomenon to trying a trendy diet. You tell everyone what you’re going to eat and what it’s going to do. But then you don’t stick with the commitment, and it falls through. Rather than seeking praise, take the steps to prove to yourself that you really are capable of making something happen. Then you can tell people, “I did” rather than “I will.”
Relying On Others’ Advice
An often unnoticed commonality among people who never move up financially is a long commute. When you live far away from your job, you spend endless hours getting there and back, sitting in traffic and wasting time. This time could instead be used productively if you didn’t have to commute for hours every week. Also, sitting in traffic, and wishing you were somewhere else, is incredibly tiring and frustrating.
When you know that getting to work involves this process, it can be easy to develop a lack of motivation to go to work at all, and you can even develop resentment. Furthermore, when you’re commuting, you’re using your time for the sake of work, but you’re not getting paid for it. This time can add up quickly, creating more and more wasted potential.
Overspending
When people are excited about a new business idea, some will instantly tell their friends and family. More likely than not, this is followed by a storm of advice and opinions from others. Some might be pessimistic, while others might think there’s a better approach. The reality is, you can’t create an idea that everyone you tell will think is amazing.
While it’s valuable to get input from others, this can become overwhelming when everyone has a different opinion. Some ideas are also very complex, making it difficult for others to fully understand them, which also make their opinions one-sided. If you want to get advice for your business, it’s best to find a few people whose opinions you value, rather than trying to please everyone.
An Inability To Adapt
It’s natural to want to buy and own things, though some people are a bit more materialistic than others. When you spend money frivolously on possessions that you don’t need, you’re wasting money that could be invested far more productively. If you look at everything you’re buying, you may just find that you don’t need the majority of it.
Worse, many people will spend money that they don’t have, using credit cards that they can’t pay off when the bills come due. We live in a society where it’s very easy to think we need more. If you want to become financially successful, it’s important to leave this notion behind, and conserve your money for the things that matter most.
Thinking That It’s Impossible To Get Rich
The world is constantly in a state of change. There are innovations coming out every single day. When starting a business, if you constantly stick to the same way of doing things, you’ll quickly find yourself falling behind and getting lost in the current. Just as with evolution, those who’re able to adapt quickly are the ones that survive. The same holds true in the context of business.
There are many companies that believed in their business model so strongly, and trusted that their customers were loyal, making them stay behind while competitors moved forward with new ideas. Over and over, this has led to bankruptcy. It may be scary to take leaps when you don’t know what’ll come with the changes. But, it’s worth it to take a risk that may support the success of the business.
Overachiever
This one might sound obvious, but it’s still well worth noting. If you ever want to become rich, you must believe that you can. Many people dream about the concept, but see it as an imaginary fairytale in the context of their lives. This leads to complacency, and never actually taking any steps to try to make this dream a reality.
The majority of people who’re rich knew they would be from a young age. This belief system allowed them to understand it was possible, so that they took the steps to make it happen. Confidence is a difficult trait for some to develop. With so many rich people whose lives you wish you could have, it can be difficult to see your own self-worth. But if you ever want these dreams to become a reality, the first step is to know you can do it. Here are some factors that show you are on the right path to becoming rich…
Setting Goals
If you were the student in school who could never be satisfied with a grade as low as a B, you’d likely be described by some people as an overachiever. You’re someone who won’t settle for second best – you want everything to be perfect. This is a common mindset and organizational approach of some of the most successful people in history.
It’s not always necessary to be a perfectionist. Trying to control a situation beyond what’s possible will only leave you frustrated and defeated. However, within the realm of what you can control, holding yourself and your business accountable to deliver the highest quality standards of work is sure to set you up for success, now and in the future.
Staying Up To Date With The News
Almost all wealthy people are able to plan out their long-term goals. It’s not as simple as having a single goal of becoming rich. That’s the larger, end goal, and is usually the result of achieving a multitude of smaller goals that move you towards getting rich. The goals that truly matter are all of the small ones you set to bring you a step closer each time.
It’s important to organize your goals, and hold yourself accountable for meeting them, so that your business can continue to move forward. Make goals that push you past your comfort zone, but aren’t out of the realm of possibility. This will move you forward from where you previously were, and help you get to where you want to be as quickly as possible.
Thick Skin
Another common trait among rich people is that they start the day by getting up to date with current events. Warren Buffet and Bill Gates, for example, like to read The Wall Street Journal, USA Today, The New York Times, and The Financial Times. Staying up to date on all of the diverse news topics allows them to be equipped with information to inform decisions that will be best for their businesses.
There are a lot of important topics that are covered in the news on a daily basis. They all play a part in the global market, which is what drives all business in the first place. If you aren’t up to date with the current trends and events, it’ll become difficult to know how to make decisions that’ll best serve the current needs of the market.
Open-Minded
The most successful people aren’t overly worried about what everyone around them thinks. Focusing on others’ opinions can hold you back from making decisions you think would be beneficial to yourself and your business. It’s important to have a thick skin and recover from criticism well, taking to heart what helps you, and letting go of what doesn’t.
Often, people will criticize things because of some insecurity within themselves. If you want to be successful in your business, it’s important to know not to take criticism too personally. Maintaining a thick skin will help you to be more flexible when receiving lots of advice, and allow you the confidence to sift through it all, only taking those pieces that work for you.
Willing To Live Modestly
One of the best ways to approach business decisions is to remain humble and realize that you don’t know everything. If you try to act like you’re already aware of every possible approach to a situation, you’ll handicap yourself when better options come along. You can never be sure that a completely different approach isn’t the best option available.
This isn’t to say that every new idea is going to be a good one. Of course, this isn’t the case. It’s essential to question ideas and think critically before making moves. However, remaining open to the possibility that every idea might be good is very wise, and has gotten some of the most successful people to where they are today.
Able To Defer Gratification
Another trait that many millionaires share is a willingness to live a modest lifestyle. While you can definitely see many rich people living luxuriously, some of the most successful people in history didn’t concern themselves with fancy things like expensive cars, designer clothing, or a large house. Steve Jobs, for instance, wore the same simple outfit almost every single day.
Instead of investing money in unnecessary things, many rich people think from a more big-picture perspective, and put their disposable income toward investing so that the money can grow over time, leaving them with more money in the future. If you have a dream of becoming rich, leave behind the extravagant fantasies of wealth, and focus instead on the investments that matter for the future.
You Started Young
Another common characteristic of wealthy people is that they’re not so set on seeing results quickly. Warren Buffett, one of the wealthiest people in the world, made the majority of his wealth after he’d reached the age of 50. He accomplished many impressive things long before then, but it took a long time to really start multiplying his income.
Patience is foundational to those who want to succeed. This doesn’t mean you should be overly patient and expect everything to happen in its own good time. It’s important, of course, to take action and keep moving forward. However, know that results aren’t always seen right away. If you really want to become rich, give up the dream of quick cash.
Having A Mentor
One factor that’s common among many successful business people is that they started earning money at a very young age. If you know that you’re motivated to become rich when you’re young, the best thing you can possibly do is start the process right then and there. The path to success is a lifelong journey of discovery and achievement.
The earlier you can begin the learning process, the more knowledge you’ll have. Mark Cuban, a self-made billionaire, is a great example. When he was twelve years old, he began going door-to-door selling trash bags to his neighbors. While this may not sound like a very lucrative business, the point is that he took the initiative to get himself out there, and start learning how to run a business.
Maximizing Your Strengths
There’s no question that the people you surround yourself with have an influence on your life. If you’re constantly surrounded by pessimists and negative-minded people, they’ll influence how you see yourself and your business, and this, in turn, can influence your success. On the other hand, surrounding yourself with people who’re wise and driven will help you become just that.
Learning from others who’ve gone through similar conflicts in the past is essential for knowing how to make good decisions. If you want to be rich, hang out with rich people. Of course this alone won’t get you rich, but it’ll start to influence you by learning some of the ways rich people think and work. More importantly, having one specific person to bounce ideas off of can be very fundamental to a successful business.
An Action-Oriented Mindset
The most successful people are those who know what they’re really good at, and invest most of their time doing that. This doesn’t mean that it’s not valuable to learn new skills and knowledge. It’s always good to learn more, and expand what you know. However, trying to use all of these skills at once makes it so that you do lots of things at a suboptimal level.
Instead, it’s most beneficial to capitalize on your greatest strength, so that you can focus and achieve the most positive results in this area. Everyone has a skill at which they excel. By finding yours, and allowing others to find theirs, you set your business up for the highest possible quality of work, and will probably find yourself and others being more productive.
If you’re the kind of person who doesn’t wait to take action when an opportunity arrives, you’re definitely set up to succeed. Many struggle with the idea of waiting for the “perfect moment” to act, only to lose sight of the goal they started with. If you’re trying to figure out the optimal moment, it’s likely now. This is a mindset shared by many of the richest people in the world.
If you see an opportunity to support, increase, strengthen, or even protect your business, take advantage of it. Don’t spend too long considering all of the possibilities and possible nuances of the decision – or the outcome. “Actions speak louder than words.” Though it may sound like a cliché, this saying couldn’t be more spot on in the realm of business.