Friday, 5 May 2017

How to become rich

1) Everyone Starts With Nothing

It was a real shock to me when I found out that that virtually everyone who is successful in America started with little or nothing. Less than 1% of financially successful Americans started off with a family inheritance of any kind. Almost all financial success has been achieved in one generation. The wealthiest man in America is 42 year old Bill Gates, who dropped out of Harvard to start his own business at the age of twenty.

Fortunately, there is plenty of guidance around you to help you to achieve financial independence. You read numerous rags to riches stories in books and magazines, and hear about them in the lives of people you know directly or indirectly. There are hundreds of thousands, and even millions of people, who have started from nothing and made it to the top financially.

There are more ideas and information at your fingertips on how to achieve financial independence than you could ever apply if you lived a hundred life times.

You can dramatically increase the probability of achieving financial success by applying the principle of emulation in your activities. This principle says, “You will be successful in proportion to which you find out what other successful people are doing, and then do the same things yourself over and over again.” This is such a simple and obvious success formula that most people overlook it completely. They try to reinvent the wheel. They attempt to succeed in a career or in business without thoroughly studying the other successful people in that field. They refuse to learn from the experience of others.

2) Learn From the Experts

Kop Kopmeyer studied successful people for more than 50 years. He read more than 6000 books on success and derived 1000 success principles from his research. He told me that the most important success principle he ever discovered was simply: “learn from the experts.” He said that there is not enough time left on earth to figure it all out for yourself. If you want to be successful, you must find out who is already enjoying the kind of success you desire and then learn what they learned, do what they do, and keep doing it until you get the same results.

Don’t waste hours, weeks, months and even years of your life trying to blaze a new trail. Instead, read the books, listen to the audio programs and attend the courses given by people who have started from nothing and achieved financial success. Learn and master the same skills that enabled them to be successful.

Many thousands of self-made millionaires have been interviewed at Great length. Their stories are often similar, Most of them started with little or no money. Many of them came blue-collar families and backgrounds. Many of them did not finish high school. If they went to college, many of them, like Bill Gates and Paul Allen, founders of Microsoft, dropped out before graduating.

Most self-made millionaires continue to live in the same neighborhood where they started married life. Very few people know that they are worth more than a million dollars. The neighbors on either side of them may actually be earning more money each month, but be worth considerably less.

Self-made millionaires are very different from average people in their approaches toward time, money and life.

3) Get serious! Stop fooling around

Here is a simple process you can follow to become financially independent. It is guaranteed to work. It works for every person who ever tries it. It consists of a series of things you can do to increase the probabilities of success in your financial life, and assure that more of the luck factors work for you in making more money. First, to become financially independent, you must begin by setting it as a goal. Get serious! Stop fooling around. You are responsible, and if anything is going to happen for you or to you, it is going to happen because of you.

If you want to achieve a certain net worth over the next 10 to 20 years, write it down as a goal. Decide exactly how much you intend to be worth at

a certain point in the future. You can’t hit a target you can’t see.

Next, set a deadline on your goal. Set sub-deadlines as well. Determine how much you will have to earn, save and invest every month and every year to achieve that goal. Determine the actions you will have to take. Create specific measures so that you can track your progress every month. The more detailed your plan, the more likely it is that you will accomplish it.

Commit To Excellence

Once you have a clear goal and a plan for financial accumulation, ask yourself the key question: “What must I be absolutely excellent at doing in order to earn the kind of money that I will need to earn to achieve the financial goals that I have set for myself?” Whatever your answer to that question is, you then set a new goal to acquire that skill, and then to become excellent at it. You resolve to pay any price, make any effort, and go any distance to become the person you will need to be to earn the kind of money you want to earn. Change Your Thinking about Wealth The hardest and most important part of achieving financial independence is the changes you will have to make on the inside to become a millionaire on the outside. Once you become a wealthy person in your thinking, you will be set for life. Even if you lose your money for some reason, you will have what it takes to make it all back again. You will have developed the “mental equivalent” of wealth accumulation that virtually guarantees your financial success. Becoming a millionaire in your own thinking requires that you move from “positive thinking” to “positive knowing.” You must move from wishing and hoping to absolutely knowing that you are the kind of person with the skills and the attitude that it takes to achieve financial success.

Once you have this mindset, no one can take it away from you.

Throughout your life, keep a long-term vision of your financial goals in front of you. Combine that mental picture with a short-term focus on the work that you have to do extremely well to deserve the kind of money that you want to earn.

4) Pay Yourself First

The habit of saving your money is a key luck factor that increases the probability that you will achieve financial independence. The best story of the power of saving is in Classon’s famous story, The Richest Man in

Babylon. The key lesson of this story is that, for you to become wealthy, throughout your life you must, “pay yourself first.”

You must take a certain amount off the top of every paycheck and put it away. Invest it carefully. Almost everyone who eventually becomes financially independent has made a habit of saving part of every paycheck and putting it away for the long term. The principle of saving says, “If you save and invest 10% of your income throughout your working lifetime, you will become a millionaire.”

The average annual salary in the United States today is about $25,000 per year. If you were to save 10% of that, or $2,500 per year, slightly more than $200 per month, and you were to carefully invest that money to earn you a return of 10% average each year, over the course of your working lifetime you would be worth more than a million dollars. You would actually retire rich!

There are various savings and investment plans available to you where you can save money and defer paying taxes. These accounts then grow with the power of compound interest. Over the course of a working lifetime, they will enable you to achieve all your financial goals. The very act of saving money changes your character. It develops self discipline.

It makes you more controlled and confident. It gives you a greater sense of self-mastery. Saving your money rather than spending it makes you a wiser and more thoughtful person in every other area of your life.

5) The place of relationships in wealth creation

The Law of Relationships explains one of the most critical success factors of all. It says, “Relationships are essential; the more people who know you and think of you in a positive way, the more opportunities you will have to achieve your goals.”

Every important change in your life will involve other people. If you want to achieve big goals, you will need the active involvement and cooperation of many other people. Often, the direction of your life will be changed by a simple comment, a piece of advice or a single action by one person. The more good relationships you have and the more helpful people you know, the more often the right doors will open for you.

6) Improve the Odds in Your Favor

This is a key luck factor and an important part of success. Remember the Law of Probabilities, which says, “The more different things you try, the more likely it will be that you will try the right thing at the right time.”

This law applies to relationships as well. The more people you know, and the more consistently you expand your range of contacts, the more likely it is that you will meet the person you need, at exactly the right time, with exactly the right resources for you. When it happens, as it always does, it will not be a miracle, and it will have nothing to do with luck.

The most successful people in our society, at all levels, are those who know, and who are known by, the greatest number of other successful people. But this is very much a chicken and egg situation. Do people become successful and then meet other successful people? Or do they meet other successful people, and then become successful themselves?

The fact is that it can work either way. One mistake that many people make is that they think that by getting around other successful people, they will be able to piggyback on their knowledge, advice and resources. This however will only work for a short time. In the long run, you can never get and hold on to anything to which you are not entitled to as the result of your own accomplishments, talents and personality.

7) Finding the Ideal Person for You

Your choice of a mate in marriage, or in a key relationship, will do more to determine your overall success and happiness than perhaps any other factor. You probably know lots of people who have worked hard for years to achieve material success in the outside world, and then seen it all fall to pieces when the critical relationships with their spouses and children disintegrated for lack of time and attention.

One way for you to find your ideal mate is the same way that you achieve any worthwhile goal in life. You sit down with a pad of paper and you write out a description of the perfect person for you. As you do this exercise, imagine that you are putting in an order that you are going to mail and the perfect person is going to be delivered back to you, exactly the way you have described him or her.

Take the time to write out every detail. Be sure to describe the ideal person’s appearance, height, weight and level of physical fitness. Describe the person’s temperament, personality, sense of humor, education, intelligence, and attitude. Be as precise as you can with regard to the person’s values, beliefs, philosophies and opinions about the important things in life. The more detailed your description, the more likely you will be to find the perfect person for you.

Read and re-read this description every day. Add new details and characteristics to the description as you think of them. Modify and adjust the existing description so that it is more and more accurate and precise.

Each time you review the description of your ideal person, you program this picture deeper and deeper into your subconscious mind. When you imagine how happy you will feel when you are in a relationship with the perfect person for you, this emotional component activates your subconscious mind and triggers the Law of Attraction. In no time at all, you will draw that person into your life.

8) Focus On Attracting Key People

The Law of Attraction is perhaps the most important of the luck factors.

“You inevitably attract into your life the people and circumstances in harmony with your dominant thoughts.”

The opposite of the Law of Attraction is the Law of Repulsion, which says, “You automatically drive away or repel people and circumstances that are not in harmony with your dominant thoughts.”

When you think positively most of the time, you set up a force field of positive energy that attracts other positive people and situations toward you.

If you think negatively, you set up a field of negative energy that drives these same forces away.

Birds of a feather do flock together. People at similar levels of success in every enterprise or profession tend to be attracted to each other. And you cannot fake it for very long.

9) Implement the Law of Indirect Effort

This brings us to an important luck factor — the Law of Indirect Effort.

This law says that you get what you want with other people more often indirectly than directly. In fact, if you attempt to get other people to help you or cooperate with you directly, you will often end up looking foolish.

You will actually drive those people away.

But if you use the Law of Indirect Effort, you will be amazed at how successful you can be. For example, if you want to have more friends, how do you use the Law of Indirect Effort? It’s simple. Concentrate on being a good friend to others. Take an interest in them. Ask them questions and listen to what they have to say. Be empathetic. Express interest and concern about their problems and their situations. Look for ways to help them, even if it is just by being a friendly sounding board. The more you concentrate on being a good friend, the more friends you will have. You will attract people into your life like bees to honey.

Do you want to impress other people? The worst way to do it is the direct way, by trying to impress them. The best way is the indirect way, by being impressed by other people. The more impressed you are with other people and their accomplishments, the more interested and impressed they will be with you and yours. Everyone has done something that is noteworthy and impressive. When you meet a new person, your job is to find it out.

Ask people what they do. Ask people how they got into their particular field. Ask people how everything is going in their business. If you listen carefully, people will tell you about both their current successes and their current problems. When a person mentions that they have just achieved something worthwhile, be sure to congratulate them.

10) Generosity Really Pays

John D. Rockefeller began his life as a clerk earning $3.75 per week.

He saved 20% of his income and gave 50% to his church. He lived on the remaining 30%. Eventually, he got into the fledgling oil business and built Standard Oil, the biggest oil company in the United States.

There is an interesting sequel to the John D. Rockefeller story. His entire fortune was based on his obsessive drive to reduce the cost of fuel oil to the American consumer. He used every business strategy possible to acquire ever-greater quantities of gas and oil. He built complex and sophisticated systems of distribution and delivery. He was so efficient that he was able to continually lower fuel prices. He was able to take away the market from anyone who was charging more than he was. His company,

Standard Oil was called a monopoly, but it was completely customer centered. It was built on his ability to give his customers what they wanted cheaper than anyone else.

As his business interests grew and expanded, he lost sight of his original desire to share his benefits with others. In the back of his mind, he had always intended to give money to worthy causes, but he became so busy building his empire that he simply didn’t have the time.

When Rockefeller was 52 years old, he was the richest man in the world. He was also a physical wreck. He was in a state of collapse. His body was falling apart. The doctors told him that he only had a few months, perhaps a year, to live. He had worked for so long, and so hard, and had taken such poor care of himself physically, that even though he could afford any kind of treatment, there was nothing they could do for him,

Rockefeller decided that if he was going to die anyway, he was going to go back to his original intention and give away some of his money. He sold half of his interests in the Rockefeller oil companies for cash, an amount of about $500 million dollars. He then set up the first Rockefeller Foundation and began giving his money away to worthy causes that he had admired over the years. And a remarkable thing happened. The more money he gave away, the healthier he became.

Eventually, his physical problems cleared up. The more dedicated he became to charitable causes, to funding churches and foundations and other needy organizations, the better he felt, and the healthier, happier and more positive he became.

Meanwhile, the Rockefeller oil companies continued to grow. The half ownership that he retained in his companies increased in value at a rate faster than he could give the other half away. Rockefeller lived to the age of 92, another forty years. By the time he died, he had given away hundreds of millions of dollars. But the incredible thing was that he was worth more when he died than when he had sold half of his interests at the age of 52 and began his charitable activities.

11) Get Around the Right People

One of the most important decisions that you make in life is your choice of the people with whom you habitually associate. Get around the right people. Get around winners. And get away from negative people. Get away from people who complain and condemn and criticize all the time.

These “toxic” people depress you and take all the joy out of living. After you have spent time with them, you feel discouraged and demotivated.

Instead, choose your friends and associates with care. As Baron de

Rothschild said, “Make no useless acquaintances.” Be perfectly selfish about the people with whom you choose to work and socialize. Dr. David

McClellan’s research into achievement at Harvard University concluded after

25 years that the members of your “reference group” will have more of an impact on your success and happiness than any other choices you make in life.

Your reference group is made up of the people with whom you identify and associate most of the time. If you fly with eagles, you will think and feel like an eagle. If you associate with turkeys, you will think, walk, talk and act like a turkey. The people around you have an inordinate influence on your personality, your opinions, your goals and everything you accomplish.

Successful people are often described as “loners.” This does not mean that they are “a-loners.” They have lots of friends, but they don’t go out for lunch with whoever is standing by the door at the time. They are selective in their relationships. They insist upon only spending time with people they enjoy and whose company they can benefit from. You must do the same.

12) Get Out and Meet People

One of the most common characteristics of self-made millionaires in

America is that they are continuous networkers. They know that the more people they know, and who know them, the more “luck” they are going to have when it comes to making sales and discovering opportunities. They take every opportunity to network with other people and to expand their network of overlapping contacts in all the areas of their life that they consider to be important.

Liking Is A Key Influence Factor

Remember, one of the most powerful success principles is contained in the principle of liking, which says, “The more a person likes you, the easier it is for you to influence him or her in some way.”

The rule is: “emotions distort evaluations.” If a person really likes you, he or she will be less concerned about the weaknesses in yourself or your product. On the other hand, if someone is neutral or negative toward you, he will be more skeptical or suspicious about anything you say.

People like to do business with people they like. People like to socialize with people they like. People like to open doors for to people they like. People like to buy from people they like. People like to hire and promote people they like. The more people like you, the doors they will open for you, and the faster you will move ahead in your career.

Continually offer to help the people you meet. I have seen some of the wealthiest and most powerful business people in the world in action. I have always been amazed to notice how courteous and attentive they are when they are listening to others. And almost invariably they ask, “Is there any way that I can help you?”

You should end any conversation with a person in business by asking that same question: “Is there any way that I can help you at this time? Is there anything I can do for you?”

Sometimes he will think of something that you can do. In most cases, he will not be able to think of any way that you can help him at this time.

But the fact that you offered to help will leave a pleasant memory of you in his mind. Somewhere down the line, he or she may call on you.

13) The Law of Reciprocity

The Law of Reciprocity is one of the most powerful and important of all human motivators. Your regular application of it will bring you opportunities that you cannot now imagine. This principle says, “If you do something for another person, that other person will want to do something for you. He will want to reciprocate in some way so that he does not feel a sense of obligation.”

Most human beings are fair in their dealings with others. When someone does something nice to or for him or her, they feel an obligation to compensate, to pay the person back in some way. The effect of a favor or kindness is to put the equation of equality between them out of balance. As a result, they look for a way to get even. They look for a way to pay you back by doing something nice for you as well.

If you go out for lunch with a friend and you pick up the tab, he or she will insist on picking it up next time. If you invite a friend over to your home for dinner, he or she will insist on inviting you over at another time.

When you send a Christmas card to someone, she will send a Christmas card back, even if she doesn’t know or remember you very well.

When you organize your life in harmony with universal laws, you will always be astonished at the speed at which good things start to happen for you. And the Law of Reciprocity in human relationships is one of the most powerful principles you will ever learn.

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