3 powerful wealth behaviors you should seriously think about
We are a product of our habits and behaviors. A lot of our results that we achieve in life are a result of these habits that we have established in our life. Like any other important goals, building wealth is just not about what ideas you have (and how you execute them), even before that, it starts with your mindset, your behaviors, and your habits. If you start living these habits day in and day out, they become a routine and lead to results.
While there are hundreds of wealth behaviors that you can work on to build a better financial future for yourself, here are the top 3 in my list:
1) Reading, reading, reading
They say we eventually become the people we meet, the experiences that we have in life and the books that we read. If I have a choice to take only one out of these three, I will take the ‘books’ any day. There is enormous value in reading because that’s the easiest way to learn from these genius people’s experiences. Not only you get an opportunity to learn what they did to achieve their success, you also learn from their failures. If you read the right books and apply the learnings in your life, you are going to save years (if not months). This is because due to lack of knowledge on these topics, you would try and apply some of these ideas yourself, which will take time.
I must confess, more than 95% of what I have learnt about money and financial planning is not from class rooms or the fancy MBA courses, the knowledge has purely come from hundreds of books that I have read on the subject. It has given me smart cuts to wealth that I could not have ever imagined. To top it all, if there is one habit which is common to most billionaires in this world, it is that they are all voracious readers, and they do not limit their thinking to one theme, they read a lot of different stuff as that is what gives them different perspectives and ideas from other industries.
2) Increase your value per hour
If you really want to build wealth and have chosen to do it through working for another employer, you will eventually realize that there is a limit to how much you can earn. This is because the number of hours that you work individually are limited. The key then is not to work more hours or to work more per hour, it is to be more valuable per hour. The best way to do that is by acquiring or learning skills (and mastering them) which are highly in demand and consistently demonstrate at work that you can add more value per hour.
3) You win some, you lose some — accept that risk is a part of life
The most successful entrepreneurs on this planet know that they can have nine failed ideas and just one successful idea, and still end up as super rich billionaires. Please understand that the earnings and success from that one successful idea will massively outperform the losses in all the failed ideas by a huge margin. The key obviously is to ‘fail fast and learn fast’ not get obsessed with your losses. Being risk averse is fine but if you are not even prepared to take calculated risks in your life, then you will not get anywhere.
Work on these wealth behaviors with an open mindset and you will see abundant opportunities coming your way. I wish you good luck and lots of success in your wealth creation journey. Cheers!!!
