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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

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Last Updated on October 16, 2019

Invaluable Lessons You Can Learn From Your Mistakes

Invaluable Lessons You Can Learn From Your Mistakes

Do you like making mistakes?

I certainly don’t.

Making mistakes is inevitable. Wouldn’t it be wonderful if we could be at ease with them?

Perhaps there is a way to think of them differently and see their benefits.

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Why Mistakes Feel Dangerous

Mistakes often feel dangerous. Throughout human history, our errors have often been treated as dangerous for a variety of reasons:

  • Our vulnerability. We have limited and fragile support systems. When those systems fail, people often lose their lives.
  • Real dangers. Nature can be dangerous, and making mistakes can put us at the mercy of nature and its animal residents seeking a meal.
  • Ignorance. Many cultures scapegoats someone whenever there is a failure of some kind. Scapegoating can be serious and deadly.
  • Order. Many societies punish those who do not conform to the prevailing orthodoxy and treat difference and non-conformity as a mistake. Even our brains flash an error message whenever we go against prevailing social norms.

We have a history of handling mistakes and failure in an unpleasant way. Since each of us carries our human history with us, it can be a challenge to overcome the fear of making mistakes.

If we can embrace the reality of mistakes, we can free ourselves to be more creative in our lives and dig up some interesting insights.

Why We Can’t Avoid Making Mistakes

Many people operate under the notion that making mistakes is an aberration, a mistake if you will. You can call it perfectionism but it is a more substantial problem. It is really a demand for order and continuity.

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When we think we can eliminate mistakes, we are often working from a perspective that sees the world as a fixed place. The world, however, is not so obliging. Like it or not, the world, and everything in it, is constantly changing.

Change is more constant and pervasive than we can see with our own eyes which is why we often miss it. Our bodies are constantly changing. The natural conditions of the earth change constantly as well. Everything, including economic and cultural systems have life cycles. Everything is in a constant state of flux.

We cannot see all of the changes going on around us since rates of change vary. Unfortunately, when we try to create a feeling of certainty and solidity in our lives or operate from the illusion of stability and order, we are fighting reality and our natural evolution which is built on adapting to change.

It is better to continually bend into this reality rather than fight every change we experience. Fighting it can cause us to make more mistakes. Finding the benefits in change can be useful and help us minimize unnecessary mistakes.

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Lessons Learned from Making Mistakes

Life has so many uncertainties and variables that mistakes are inevitable. Fortunately, there are many things you can learn from making mistakes.

Here is a list of ways to harness the mistakes you make for your benefit.

  1. Point us to something we did not know.
  2. Reveal a nuance we missed.
  3. Deepen our knowledge.
  4. Tell us something about our skill levels.
  5. Help us see what matters and what does not.
  6. Inform us more about our values.
  7. Teach us more about others.
  8. Let us recognize changing circumstances.
  9. Show us when someone else has changed.
  10. Keep us connected to what works and what doesn’t work.
  11. Remind us of our humanity.
  12. Spur us to want to better work which helps us all.
  13. Promote compassion for ourselves and others.
  14. Teach us to value forgiveness.
  15. Help us to pace ourselves better.
  16. Invite us to better choices.
  17. Can teach us how to experiment.
  18. Can reveal a new insight.
  19. Can suggest new options we had not considered.
  20. Can serve as a warning.
  21. Show us hidden fault lines in our lives which can lead us to more productive arrangements.
  22. Point out structural problems in our lives.
  23. Prompt us to learn more about ourselves.
  24. Remind us how we are like others.
  25. Make us more humble.
  26. Help us rectify injustices in our lives.
  27. Show us where to create more balance in our lives.
  28. Tell us when the time to move on has occurred.
  29. Reveal where our passion is and where it is not.
  30. Expose our true feelings.
  31. Bring out problems in a relationship.
  32. Can be a red flag for our misjudgments.
  33. Point us in a more creative direction.
  34. Show us when we are not listening.
  35. Wake us up to our authentic selves.
  36. Can create distance with someone else.
  37. Slow us down when we need to.
  38. Can hasten change.
  39. Reveal our blind spots.
  40. Are the invisible made visible.

Reframe Reality to Handle Mistakes More Easily

The secret to handling mistakes is to:

  • Expect them as part of the process of growth and development.
  • Have an experimental mindset.
  • Think in evolutional rather than fixed terms.

When we accept change as the natural structure of the world, our vulnerability and humanness lets us work with the ebb and flow of life.

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When we recognize the inevitability of mistakes as part of the ongoing experiment which life is, then we can relax more. In doing so we may make fewer of them.

It also helps to keep in mind that trial and error is an organic natural way of living. It is how we have evolved over time. It is better to be with our natural evolution than to fight it and make life harder.

When we adopt an evolutional mindset and see ourselves as part of the ongoing human experiment, we can appreciate that all that has been built up over time which includes the many mistakes our ancestors have made over thousands of years. Each one of us today is a part of that human tradition of learning and experimenting,

Mistakes are part of the trial and error, experimental nature of life. The more you adopt the experimental, evolutional frame, the easier it becomes to handle mistakes.

Handling mistakes well can help you relax and enjoy all aspects of life more.

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Featured photo credit: Sarah Kilian via unsplash.com

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