No one grows up thinking “I hope I struggle to make ends meet.” Instead, most of us have dreams of becoming rich and being able to buy and do what we want. We might believe that with wealth comes ultimate freedom. But is that true? It might be, but for most of the top one percent who are considered “mega-rich”, they have worked hard to get where they are. They had to take certain steps to get them to the top. Here are five tips and tricks of the mega-rich that all of us can learn from.
Diversify
The saying “Don’t put all your eggs in one basket,” is also true in business. It is critical to your business success to spread out your investments. Sjamsul Nursalim is a successful businessman that ranks as one of Indonesia’s top 50 richest people. Sjamsul has a diverse portfolio of successful ventures across multiple industries. While Sjamsul Nursalim has added a great deal to his wealth through business in property and coal, he is also a well-known retail executive. Sjamsul has a successful tire corporation and is also a stakeholder in Mitra Adiperkasa Iperkasa. Mitra Adiperkasa Iperkasa operates various big-name retail brands in the Indonesian market, including Zara, Topshop, and Steve Madden.
Work For Yourself
It’s no secret that most of the wealthiest individuals own their own companies. Forbes states that of their list of over 1400 billionaires, all of them (yes, all of them) have a personal or family business to thank for their riches. While most of us don’t have the blessing of a uber-successful family business, that doesn’t mean you have to work for someone else for the rest of your life. It doesn’t take a genius to become a successful entrepreneur. In fact, three of the world’s wealthiest men, Bill Gates, Mark Zuckerberg, Steve Jobs, left college empty-handed, as in no diploma.
Welcome Failure
Trying new ventures and having them “fail” is, in essence, “on the job training.” If your list of business failures is short and sweet, maybe you haven’t taken enough risks. You will learn a lot of valuable lessons from your failures if you take the time to evaluate them and recognize what went wrong. This step by step analysis is key to not repeating the blunder. If you don’t study where you went wrong, you are likely to revisit the same sad state of regret. Did you know Apple was at one time close to bankruptcy? It’s true, but look at them now. Failure can be a big boost for you and your business if you choose to see it as an opportunity for growth. No one is immune to challenges, so expect them and welcome them.
Set Goals and Write Them Down
Not this again, right? Who hasn’t grown tired of the advice to set measurable goals? It is an age-old suggestion that doesn’t die because it works. And you can’t just think about your goals; you have to write them down. There is power in putting the pencil to the paper and devising a plan for your success. Goal setting goes hand in hand will daily task lists and prioritizing your to-do list. Productivity is a big deal and you can’t make the big bucks without it. Find a system that works for you. Whether you use a simple notebook or a detailed planner, begin writing down your ideas, projections, and visions. Then, turn those ideas into tangible step by step plans. It helps to have a monthly, weekly and daily goal in mind. This is one habit you can’t afford to ignore.
Find Your People
You can’t do it alone. Well, you actually can do it alone temporarily, but eventually, you will come to see the heavy toll it will take on every aspect of your life. An important step for big businessmen and women is to surround themselves with a team of like-minded individuals. Find passionate people who share your vision. Introduce them to your ideas and work together to develop them into something bigger and better. Be willing to compromise and listen to other perspectives. Teamwork and strategy sessions can be immensely helpful as you develop a strong foundation for your company. Don’t forget to clearly lay out ownership and management responsibilities so everyone is on the same page.
Following these five steps does not guarantee success. There are countless people in the world who have done exactly what we’ve outlined here, and they are still far from rich. So why bother? Because. Because setting goals and following your dreams is fulfilling even if it doesn’t fill your bank account. As humans, our psyche is wired for accomplishment. When we achieve something, the brain releases endorphins that make us feel good. Even small successes count. So don’t give up if you fall down. Get up, brush yourself off and keep going. Be resilient, be focused and big things will happen.