According to the Global
Wealth Report, 43.4% of the world's wealth is controlled by millionaires, or
approximately $173.3 trillion.
Moreover, 83.9% of the
world's wealth is owned by the top 10% richest people. In contrast, the bottom
half of the wealth pyramid manages 1.4% of global wealth, showing there is an
almost insurmountable disparity in the global distribution of wealth.
If you are reading this
blog post, you are definitely one of those who are aspiring to be in the top 10
percent.
At the end of the day,
wealth is freedom. Chasing money seems like a dishonour goal to pursue but if
we are going, to be honest, chasing money is what we all do.
Most people spend their
entire lives to have a roof over their heads, food on the table, and hopefully
enjoy some of the pleasure life has to offer, but that all depends on how much
money you are going to earn. Think of money as a resource.
Don't imagine it as a
piece of paper that you are chasing but rather as a resource that can enable
you to do anything, from delegating your routine work and spending more time
with your family to helping others put food on the table.
But how do you know that
you are on your way to becoming financially independent? How do you that you
are going to make it financially?
Fortunately, there are
some clear signs to find out if you are on the right track or not, and in this
blog post, we are going to take a look at 7 of them.
So if you are ready, give
your support to this blog post and let's start with the first one.
YOU KNOW HOW TO SAY NO
It might sound a bit
confusing, but it's one of the main reasons why some people succeed in life
while others don't.
We don't want to be rude,
we want to be kind and gentle, so when people ask us for help, especially
friends and relatives, we often just say yes, because you cannot simply reject them,
they are your friends and family, but what ends up happening is that, by always
sharing your time with others, you never have the time to work on the projects
that will make you financially successful.
The key to success is not
to do everything but rather focus on one thing. Remember, your most important
resource is your time.
It doesn't matter what
you do, how good of a person you are, you are not going to have more than 24
hours a day, so you are left with a choice to either spend it on stuff that
will make you wealthier or on other people’s needs and wants.
I am not saying you
should be stingy and never help anyone, but you have to make yourself a
priority.
YOU ARE ALWAYS LEARNING
So here is what most
people do. They go to high school, graduate, join college or university,
graduate, find a job, and that's the end of learning.
Literally, some people
don't even read a single book once they are in college, which is why most
people don't become successful.
The key to building
wealth is to take advantage out of opportunities, and the only way to do that
is to have a deep understanding of something or a wide understanding of the
world.
For example, 10 years
ago, crypto was not a thing, but today it worth trillions, the people who are
going to take advantage out of this revolution are the people who put in the
effort and time to understand this industry.
It's as simple as that. If
you were curious enough to read and learn, you probably have known about crypto
5 or 10 years ago.
And your curiosity would
have pushed you to understand the technology and see its potential. That
doesn't mean it's over! There’s are going to be more such technologies that
will revolutionize the world.
Edison and many other
entrepreneurs back then took advantage out of electricity. Others joined the
oil revolution. In the 1990s up to 2010, early users of the internet created
companies that today worth hundreds of billions of dollars and, in some cases,
trillions.
So if you are a constant
learner, it's a matter of time before you spot an opportunity that will turn
you into a millionaire.
YOU ARE BUILDING CONNECTIONS
Alone you are never going
to go far. Humans are social creatures, and the fastest way to building wealth
is to have valuable connections.
You have a business idea.
If you know someone who is ready to invest in it, congrats you have turned an
opportunity into a real physical asset.
Go to networking events,
meet people who are also passionate, talented. Most people have 2 or 3 friends
that they spend their entire time with and imagine the rest of the world to be
the same.
THEY KNOW LIFE IS UNFAIR
I often hear people say
that - that's unfair! I deserve this, or he doesn't deserve that! And so on. Let
me tell you a secret. Life is not fair!
Life is like a war where
you have to fight for it. You might fight hard, but if you are shooting the
wrong target, then you will achieve nothing.
You might be as smart as
you want, but if your opponent's strategy is better, then you will be defeated.
So don't rely on the
fairness of life But rather, strike first and be smart about it.
If you don't succeed the
first time, don't sit in the corner and cry but rather get up, improve your
strategy and strike again. Eventually, you will succeed.
YOU ARE FOCUSED ON MAKING MONEY AND NOT SAVING
Saving money is the key
to financial freedom. It doesn't matter how much money you make; if you spend
it all, you won't be able to invest and build wealth.
But some people are so
focused on saving money that they forget to maximize their income. They spend
hours in the hypermarkets to find milk that's 10 cents cheaper instead of
spending that time educating themselves and learning to spot a million-dollar
opportunity.
Remember, there is a
limit to how much you can save. At the end of the day, you need shelter over
your head, food on the table, gas to drive your car, and late-night hangouts
with friends to entertain yourself.
Save as much you can but
focus more on building different streams of income. If you have reached the
peak in one area, focus on building another business and so on and so forth.
YOU ARE CONSISTENT
One thing I can tell you
for a fact is, nothing meaningful happens overnight. If you have ever tried to
go to the gym, you know that it doesn't matter how hard you work out.
It doesn't matter if you
spend 10 hours in the gym. You are only going to hurt yourself and won't
achieve anything.
Because the nature of
success is that it happens gradually, step by step. Going to the gym 3-4 times
a week, working out just for an hour for 3 months in a row, will get you way
better results than spending 10 hours in the gym for just one week.
And that applies to
everything else, including financial success.
YOU ARE RESULT - ORIENTED THERE ARE TWO TYPES OF PEOPLE
One who believes that
they should be paid based on how much effort they put in and the other who
believe that they should get paid based on how much value they bring to the table.
And that's why the first
type, in most cases, never becomes financially successful. They can make a lot
of money because they could be really good at their job, so they get paid a
fortune like successful engineers, doctors or lawyers, but at the end of the day,
the real money is made by successful entrepreneurs.
Take a look at the top
100 richest people in the world. All of them are successful entrepreneurs. When
it comes to businesses, no one really cares about how much time and effort you
put into your product.
Take YouTube, for
example. No one really cares about how hard you worked to create this video. If
it's not interesting no one is going to watch, and that's why people with the
first mentality often fail when they start a YouTube channel.
Because when it comes to
YouTube, you often have to work hard for months before figuring out the
algorithm and generate any income.
It might even take you
years before it turns into a successful business. If you have enjoyed this blog
post, Thanks for reading and until next.
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