7 Qualities That Will Make You Rich

When you see successful people, you seldom think about what lies underneath all the cool lifestyle they exhibit.

Many people dream to achieve success but often struggle due to lack of understanding the qualities required.

Today, I’m sharing the top 7 qualities that will make you rich.

1. Become known for one thing

People often feel proud whenever they tell you they have many talents.

While this can be seen as an ‘ego-booster’ for many, the reality is that it can be both a blessing and a curse.

“He who catches two rabbits at once will catch none.” – German proverb

Attempting to achieve various things at once can drive you to the brink of depression as you try relentlessly to try fit them all into your packed-tight schedule.

You might feel you can do it at first, I felt the same too, but as time goes by, you’ll start begin to worn out. When that happens, you’ll start losing focus on ALL things.

I know that sometimes, you feel you need to make the best out of the time available to you – I’ve been there. Then, I realize that it only accelerate my exhaustion level.

So, why should you focus on one thing at a time?

To start, our brain has shown that it works best when concentrated one thing at a time.

In fact, a research by Stanford University that frequent multi-taskers were actually worse at multitasking.

They even performed worse because they had more trouble organizing their thoughts and filtering out irrelevant information.

Researchers at the University of Sussex in the UK also found that multi-taskers suffer from cognitive impairment affecting their empathy as well as cognitive and emotional control.

Apart from health concerns, if you look at those who are exceptionally successful, you’ll see how often they champion the idea of ‘focusing getting things done – one at a time’.

“Focus and be known for one thing.” – Anonymous

“Your life is controlled by what you focus on.” – Tony Robbins

By becoming known for one thing, the word gets out about you and your business much faster than someone who ‘multi-tasks a lot and known to be an average at a lot of things’.

People are more likely to come to you since you’re the best – some might even fly to you and vice versa.

Start focus today. Be known for one thing.

2. WILLINGNESS TO MAKE SACRIFICES

“Whenever you see a successful person, you only public glories. never the private sacrifices to reach them.” – Vaibhav Shah.

We often see the successes of people, but can never learn enough from the struggles they went through.

Being an entrepreneur will make you realize that the lifestyle you want doesn’t come for easily.

“The dream is free, the hustle is sold separately.” – Anonymous

Real entrepreneurs are not only able to see the opportunity, they are also willing to do what it takes to earn it. They respect the dream and know there’s a price to pay.

On the other hand, if you see entrepreneurship as a way out of your 9-5pm job, or because you enjoy less time working, then, you’re stepping into a ‘sinking ship’.

This is what separates between successful entrepreneurs and ‘wanna-preneurs’.

When I started out, I had to care for both my parents down with chronic diseases. That along with running businesses – I had to make tough decisions and sacrifices along the way, some I’m not particularly proud of but had to be done. I’m glad I made it through today.

That’s entrepreneurship. There’s no easy way up. It’s a rollercoaster.

It’s not going to be easy, but it’s going to be worth it IF you’re smart about it.

3. SELF-MOTIVATION

“Don’t focus on the risks. Focus on the rewards.” – Anonymous

Life will get harder in your journey as an entrepreneur; and to be honest, you’re in this alone in the beginning.

Unlike your job, there’s no one to motivate you but yourself. You have no boss, no peers – you get the idea.

You’d argue “what about partners, investors etc?”

Well, they can only recommend you on the direction and decision making the company should take – but at the end of day, you’re the driving force that should get things done.

You’re your own motivator.

Yes your family and friends will be around you, but what lies within yourself is where you REALLY make the difference.

There will come a number of times where your brain will start to wonder – and start telling you to doubt, stop and give up.

Why not? After all, your business is not making much progress after 1, 2, 3 years. Savings all dried up. There’s nothing left you could do.

This situation alone might scare off most people away.

But successful entrepreneurs know better. They see the risks but they focus on the outcome. This is one of the best ways to motivate yourself. See the rewards, not the struggles.

In addition, you also need to find various amount of motivational quotes and to keep it as mantra in case you start feeling worn out.

Create reminders of what success would look like, or any possessions (e.g. mansion, yacht etc) you desire to own. Do whatever it takes to remind that you need to work harder if you want to achieve it.

If you’re unable to motivate yourself, you’re in tough luck and better off working a job.

4. Define your goal daily

“A dream written down with a date becomes a goal.

A goal broken down into steps becomes a plan.

A plan backed by action makes your dreams come true.”

If you’re an admirer of various successful people, I’m sure you’ve come across the importance of writing down your goals every single day.

This is a habit most entrepreneurs live by; as it helps you an impulse to act on a daily basis.

By setting your goals, you’ll start to wake up ‘with a plan’ rather than ‘to have a plan’.

This attitude helps to start your day as productive you can – not wasting time trying to figure out ‘what to do today’.

When you set the goals every day it helps you to define priorities and keep the most important things on the first place.

The initial identification of priorities is one of the most important things you need to do.

Focus on getting the most profitable activities done early, and then everything else. Soon, you’ll discover the best route to your success.

5. Practice resilience

“The task ahead of you is never greater than the strength WITHIN you.” – Anonymous

“Resilience is the ability to fall, pick ourselves up from the floor quickly, learn and continue with the journey.” – Anonymous.

Resilience is key to success. It gives you an advantage over people who choose to give up the moment they face failure.

You can be the smartest person in the room – who are also not spared from failures; but if you lack the discipline to keep going, you ought to fail as well.

I’m a big saver. In fact, I enjoy saving money especially being able to see my money grows every month at the bank and eventually investment. Of course, I desire for luxurious possessions in life, but I knew I had to keep my grit and carry on saving money.

I’ve tried most which entrepreneurs went through (except being homeless) e.g. eating peanut butter and jelly sandwiches almost everyday, had to juggle between taking care both my parents and my business, and so on.

Today, majority of the savings are in investments. I can live comfortably from the returns alone. I do still save, but slowly, I start to increase my expenses a little bit so I get to enjoy after all the years of sacrifices.

“If you don’t give up, you still have a chance ….” – Jack Ma

You cannot avoid ups and downs along the way but you need to find within yourself to uphold a strong spirit to accomplish your short and long-term goals.

6. Obey the “Rule of 500”

In a nutshell, you need to offer your services or products to at least 500 people per month in order to become a millionaire.

Of course, this depends on the nature of your business i.e. profit margin etc. What’s being pointed out here is to get your product in front of as many people; and quick.

There will be large number of refusals – but this is just part of sales. You just need to be ready for it.

7. Long Term & Short Term Plans

“You have to believe in the long term plan but you need the short term goals to motivate and inspire you.” – Roger Federer

Everything you’ve done in life so far has been for the immediate future.

Mankind functions in strange ways where we mostly know the importance of long term plan – and yet, we still seek for a shortcut.

If you wish to be successful in life, your mindset needs to be re-wired quick.

You need to stop looking for shortcuts, there isn’t one. There are large numbers of successful people can attest to that.

To be honest with you:

It will take between 7 and 10 years to change your life.

You’re probably getting discouraged hearing this – and opting for Netflix instead.

If you’re that person, that’s good. You’ve just saved yourself from 10 years of hard work to success – than decades of average work to just being average.

Being successful requires you to think ahead and take actions now which will have an impact over the long term.

Successful people often look at the rewards of hardship; and then deconstruct it into short term plans to achieve that end game. This mentality is what’s going to help you pivot towards success.

It works similar like reverse engineering a product. You tear it into pieces trying to figure how it works and being made.

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