For the last fourteen years, I had the privilege to work with hundreds of millionaires, entrepreneurs, and investors. After studying their behaviors for years, it was easy to determine why they were wealthy. They had a set of beliefs and followed simple behaviors that most people never do. In fact the behavior of the average person is exactly opposite of what the wealthy do and that is exactly why most people are comparably poor.
There are simply ten ways to become rich:
#1: Start your own business:
Do you have a compelling vision? How about entrepreneurial skills? If you pick an up and coming or growing field, you could become rich. However, you must choose an unfulfilled need or improve upon an existing need. What part of the world will you change? Start small, but dream big!
#2: Become a CEO of a company:
Are you good at taking responsibility? Does leadership come natural to you? Find a field you love and work your way up the corporate ladder. It takes time, but you can become rich. You must always lead and provide value.
#3: Marry up:
Want to marry someone for money? I couldn’t do it, but many do! This can lead to instant wealth but at what price?
#4: Invest in real estate:
Good at finding real estate bargains? Good at collecting rents? Those who know how to leverage money and real estate know-how can become rich. Finding a vibrant market and being a value savvy, long-term investor is a better formula than short-term flipping.
#5: Enter the legal field:
Like arguing? Good at convincing people? The legal filed is a way to become rich. Not just any lawyer, but most rich lawyers are plaintiff’s lawyers. You need sympathetic clients and villains to pursue. Class action lawsuits are riches waiting to happen…
#6: Save and invest wisely:
Good at saving and investing? Have a disciplined, systematic approach? This may lead you to riches. Having a high-paying job, religiously saving 10-20% or more of your income, and getting your money to work hard for you by owning stocks is the surest path.
#7: Manage other people’s money:
Have an attitude toward numbers? Nerves of steel? Good money management skills? Whether you are a money manager, banking mastermind, hedge fund pioneer, a brokerage or insurance expert, this is a road that often leads to wealth. Check out how many became billionaires – managing other people’s money. You have to be able to get clients, keep them happy, and grow your business. `
#8: Be an athlete or entertainer:
Have extraordinary talents or skills? Don’t mind losing your privacy? If you can out-sing, out-dance, out-act, out-write, or be more athletic than less 99.9% of the people in the world, you have a great shot at riches. It still takes hard work, dedication, motivation, and a little of the “being in the right place at the right time” opportunity, but this is a path toward success.
#9: Invent ways to generate passive income:
Are you creative? Are you good at finding ways to keep getting paid time and time again? If you are good at finding ways to monetize a product or service with value, this will make you wealthy. The key is finding an unmet need and offering a way to capitalize time and time again (patents, merchandising, franchising).
#10: Be part of someone else’s vision and be along for the ride:
Not quite head honcho material, but good at spotting winners? Every Batman needs a Robin. Riding along with a Donald Trump, Warren Buffett, or Bill Gates will lead you to riches. Pick a company and person with a good track record and be a loyal, trustworthy companion and business leader and you will be successful.
Are there more ways? Of course, but the less common ways (inheriting money, winning the lottery, etc) are not as practical, nor predictable. These ten ways cover how most of those on the Forbes list of the 400 richest people in the world gained their fortunes.
As striking as this list is, there is another list – a list of seven beliefs that will not only keep you from becoming rich, they will destroy your wealth potential. Wasted potential is like a cancer that spreads to other areas of your life.
I created a seven day challenge at www.santafactor.com
LEARN THE 7 BELIEFS ABOUT MONEY THAT ARE KEEPING YOU FROM GETTING RICH!