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Success Habits of The Worlds Wealthiest People

Success Habits of The Worlds Wealthiest People

I’m always trying to find out how the world’s wealthiest are making their money. Some are born in rich families who have built a vast empire, and others made money through business ventures. By understanding the way some people have become wealthy, you can start to incorporate their mindset into your work.

For example, you’ve probably noticed how the wealthy have a certain way of doing things like conduct business, deal with people, and negotiate the price on products. You can also learn a lot from their lifestyle which will be great for your business, for example, the books they read, the way they exercise, and how they spend money.

After doing research, I learned some “success” habits of the world’s wealthiest which I’ll like to share with all of you.

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Wake Up Early

The majority of successful people are early risers because it helps them get more done. In business, you’ll also get a jump start on your competition being able to network, build connections, and close the deal first thing in the morning. Waking up early also gives successful people time to exercise, meditate, and take some personal time. Once businesses have opened around 9 am, it’s harder for successful people to take off because they are busy at work.

They Network

To be successful in a very competitive world, you’ll have to network with others who have knowledge in your niche. Some people have been in business longer than you so have developed the right connections and networks that can help you too. It’s important to network with these people so you get a competitive edge over your competition. However, this must be mutually beneficial so you should always try to help in return.

The good news is locating and networking is so much easier because of the internet since you can communicate through email and find people in your industry using platforms like LinkedIn. Read this awesome article on how to network properly.

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Always Learning

Successful people are always learning something new so they can stay ahead of the changing trends. They are reading the newspaper to understand the markets, and new changes coming within their industry. This will allow them to tweak and make changes to better serve their customers to continue to grow. If you stay stagnant, then your competition will find creative ways to outshine your products taking your customers away.

Keep it in The Family

The top successful people keep trusted people close to them which are why they’ll get their family involved. While researching, you’ll notice how some of the top companies are operated by family members after the founder passes away. It makes complete sense to leave the day-to-day operations to family members because these are trusted people and from a young age have been learning the business.

It’s important to also understand how families tend to leave everything behind for their children from generation to generation. Here’s a great example of the riches families in the world, and you’ll read how several companies are now operated by the children of the founder.

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Money Management

Successful people know where to invest their money for the highest return. If they can’t manage on their own, then they’ll hire the best to do it for them.

However, the important thing all successful business people do is divide personal and company cash. It’s important to not pull money out the of the company because this is kept aside for growth, marketing, and if tough times are expected ahead. Companies have failed in the past because money was being pulled out of company assets for personal use. Enron is a great example of CEO’s taking large bonuses while the company was declining in customers and overall profits.

Successful businessmen know how to hire the best money managers. They want those which know how to save you money by investing it in the right place. They know how to ensure the highest tax credits are received, and the company always benefits within the lowest tax bracket.

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Featured photo credit: Anete Lusina via unsplash.com

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Rizvan Ullah

Rizvan is the founder of CareerCrawlers. He shares career and motivational advice on Lifehack.

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Last Updated on July 13, 2020

How Not to Feel Overwhelmed at Work & Take Control of Your Day

How Not to Feel Overwhelmed at Work & Take Control of Your Day

Overwhelm is a pernicious state largely caused by the ever-increasing demands on our time and the distractions that exist all around us. It creeps up on us and can, in its extreme form, leave us feeling anxious, stressed and exhausted.

If you’re feeling overwhelmed at work, here are 6 strategies you can follow that will reduce the feeling of overwhelm; leaving you calmer, in control and a lot less stressed.

1. Write Everything down to Offload Your Mind

The first thing you can do when you begin to feel overwhelmed is to write everything down that is on your mind.

Often people just write down all the things they think they have to do. This does help, but a more effective way to reduce overwhelm is to also write down everything that’s on your mind.

For example, you may have had an argument with your colleague or a loved one. If it’s on your mind write it down. A good way to do this is to draw a line down the middle of the page and title one section “things to do” and the other “what’s on my mind”.

The act of writing all this down and getting it out of your head will begin the process of removing your feeling of overwhelm. Writing things down can really change your life.

2. Decide How Long It Will Take to Complete Your To-Dos

Once you have ‘emptied your head,’ go through your list and estimate how long it will take to complete each to-do.

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As you go through your list, you will find quite a few to-dos will only take you five or ten minutes. Others will take longer, often up to several hours.

Do not worry about that at this stage. Just focus on estimating how long you will need to complete each task to the best of your ability. Here’s How to Cultivate a More Meaningful To Do List.

3. Take Advantage of Parkinson’s Law

Now here’s a little trick I learned a long time ago. Parkinson’s Law states that work will fill the time you have available to complete it, and us humans are terrible at estimating how long something will take:((Odhable: Genesis of Parkinson’s Law))

    This is why many people are always late. They think it will only take them thirty minutes to drive across town when previous experience has taught them it usually takes forty-five minutes to do so because traffic is often bad but they stick to the belief it will only take thirty minutes. It’s more wishful thinking than good judgment.

    We can use Parkinson’s Law to our advantage. If you have estimated that to write five emails that desperately need a reply to be ninety minutes, then reduce it down to one hour. Likewise, if you have estimated it will take you three hours to prepare your upcoming presentation, reduce it down to two hours.

    Reducing the time you estimate something will take gives you two advantages. The first is you get your work done quicker, obviously. The second is you put yourself under a little time pressure and in doing so you reduce the likelihood you will be distracted or allow yourself to procrastinate.

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    When we overestimate how long something will take, subconsciously our brains know we have plenty of time and so it plays tricks on us and we end up checking reviews of the Apple Watch 4 or allow our colleagues to interrupt us with the latest office gossip.

    Applying a little time pressure prevents this from happening and we get more focused and more work done.

    4. Use the Power of Your Calendar

    Once you have your time estimates done, open up your calendar and schedule your to-dos. Go through your to-dos and schedule time on your calendar for doing those tasks. Group tasks up into similar tasks.

    For emails that need attention on your to-do list, schedule time on your calendar to deal with all your emails at once. Likewise, if you have a report to write or a presentation to prepare, add these to your calendar using your estimated time as a guide for how long each will take.

    Seeing these items on your calendar eases your mind because you know you have allocated time to get them done and you no longer feel you have no time. Grouping similar tasks together keeps you in a focused state longer and it’s amazing how much work you get done when you do this.

    5. Make Decisions

    For those things you wrote down that are on your mind but are not tasks, make a decision about what you will do with each one. These things are on your mind because you have not made a decision about them.

    If you have an issue with a colleague, a friend or a loved one, take a little time to think about what would be the best way to resolve the problem. More often than not just talking with the person involved will clear the air and resolve the problem.

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    If it is a more serious issue, then decide how best to deal with it. Talk to your boss, a colleague and get advice.

    Whatever you do, do not allow it to fester. Ignoring the problem will not make it go away. You need to make a decision to deal with it and the sooner you do so the sooner the problem will be resolved. (You can take a look at this guide on How To Make Good Decisions All The Time.)

    I remember long ago, when I was in my early twenties and had gone mad with my newly acquired credit cards. I discovered I didn’t have the money to pay my monthly bills. I worried about it for days, got stressed and really didn’t know what to do. Eventually, I told a good friend of mine of the problem. He suggested I called the credit card company to explain my problem. The next day, I plucked up the courage to call the company, explained my problem and the wonderful person the other end listened and then suggested I paid a smaller amount for a couple of months.

    This one phone call took no more than ten minutes to make, yet it solved my problem and took away a lot of the stress I was feeling at the time. I learned two very valuable lessons from that experience:

    The first, don’t go mad with newly acquired credit cards! And the second, there’s always a solution to every problem if you just talk to the right person.

    6. Take Some Form of Action

    Because overwhelm is something that creeps up on us, once we feel overwhelmed (and stressed as the two often go together), the key is to take some form of action.

    The act of writing everything down that is bothering you and causing you to feel overwhelmed is a great place to start. Being able to see what it is that is bothering you in a list form, no matter how long that list is, eases the mind. You have externalized it.

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    It also means rather than these worries floating around in a jumbled mess inside your head, they are now visible and you can make decisions easier about what to do about them. Often it could be asking a colleague for a little help, or it could be you see you need to allocate some focused time to get the work done. The important thing is you make a decision on what to do next.

    Overwhelm is not always caused by a feeling of having a lack of time or too much work, it can also be caused by avoiding a decision about what to do next.

    The Bottom Line

    Make a decision, even if it is to just talk to someone about what to do next. Making a decision about how you will resolve something on its own will reduce your feelings of overwhelm and start you down the path to a resolution one way or another.

    When you follow these strategies to can say goodbye to your overwhelm and gain much more control over your day.

    More Tips for Reducing Work Stress

    Featured photo credit: Andrei Lazarev via unsplash.com

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