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Success Habits of The Worlds Wealthiest People

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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 October 21, 2021

How to Create Your Own Ritual to Conquer Time Wasters and Laziness

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How to Create Your Own Ritual to Conquer Time Wasters and Laziness

Life is wasted in the in-between times. The time between when your alarm first rings and when you finally decide to get out of bed. The time between when you sit at your desk and when productive work begins. The time between making a decision and doing something about it.

Slowly, your day is whittled away from all the unused in-between moments. Eventually, time wasters, laziness, and procrastination get the better of you.

The solution to reclaim these lost middle moments is by creating rituals. Every culture on earth uses rituals to transfer information and encode behaviors that are deemed important. Personal rituals can help you build a better pattern for handling everything from how you wake up to how you work.

Unfortunately, when most people see rituals, they see pointless superstitions. Indeed, many rituals are based on a primitive understanding of the world. But by building personal rituals, you get to encode the behaviors you feel are important and cut out the wasted middle moments.

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Program Your Own Algorithms

Another way of viewing rituals is by seeing them as computer algorithms. An algorithm is a set of instructions that is repeated to get a result.

Some algorithms are highly efficient, sorting or searching millions of pieces of data in a few seconds. Other algorithms are bulky and awkward, taking hours to do the same task.

By forming rituals, you are building algorithms for your behavior. Take the delayed and painful pattern of waking up, debating whether to sleep in for another two minutes, hitting the snooze button, repeat until almost late for work. This could be reprogrammed to get out of bed immediately, without debating your decision.

How to Form a Ritual

I’ve set up personal rituals for myself for handling e-mail, waking up each morning, writing articles, and reading books. Far from making me inflexible, these rituals give me a useful default pattern that works best 99% of the time. Whenever my current ritual won’t work, I’m always free to stop using it.

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Forming a ritual isn’t too difficult, and the same principles for changing habits apply:

  1. Write out your sequence of behavior. I suggest starting with a simple ritual of only 3-4 steps maximum. Wait until you’ve established a ritual before you try to add new steps.
  2. Commit to following your ritual for thirty days. This step will take the idea and condition it into your nervous system as a habit.
  3. Define a clear trigger. When does your ritual start? A ritual to wake up is easy—the sound of your alarm clock will work. As for what triggers you to go to the gym, read a book or answer e-mail—you’ll have to decide.
  4. Tweak the Pattern. Your algorithm probably won’t be perfectly efficient the first time. Making a few tweaks after the first 30-day trial can make your ritual more useful.

Ways to Use a Ritual

Based on the above ideas, here are some ways you could implement your own rituals:

1. Waking Up

Set up a morning ritual for when you wake up and the next few things you do immediately afterward. To combat the grogginess after immediately waking up, my solution is to do a few pushups right after getting out of bed. After that, I sneak in ninety minutes of reading before getting ready for morning classes.

2. Web Usage

How often do you answer e-mail, look at Google Reader, or check Facebook each day? I found by taking all my daily internet needs and compressing them into one, highly-efficient ritual, I was able to cut off 75% of my web time without losing any communication.

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3. Reading

How much time do you get to read books? If your library isn’t as large as you’d like, you might want to consider the rituals you use for reading. Programming a few steps to trigger yourself to read instead of watching television or during a break in your day can chew through dozens of books each year.

4. Friendliness

Rituals can also help with communication. Set up a ritual of starting a conversation when you have opportunities to meet people.

5. Working

One of the hardest barriers when overcoming procrastination is building up a concentrated flow. Building those steps into a ritual can allow you to quickly start working or continue working after an interruption.

6. Going to the gym

If exercising is a struggle, encoding a ritual can remove a lot of the difficulty. Set up a quick ritual for going to exercise right after work or when you wake up.

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7. Exercise

Even within your workouts, you can have rituals. Spacing the time between runs or reps with a certain number of breaths can remove the guesswork. Forming a ritual of doing certain exercises in a particular order can save time.

8. Sleeping

Form a calming ritual in the last 30-60 minutes of your day before you go to bed. This will help slow yourself down and make falling asleep much easier. Especially if you plan to get up full of energy in the morning, it will help if you remove insomnia.

8. Weekly Reviews

The weekly review is a big part of the GTD system. By making a simple ritual checklist for my weekly review, I can get the most out of this exercise in less time. Originally, I did holistic reviews where I wrote my thoughts on the week and progress as a whole. Now, I narrow my focus toward specific plans, ideas, and measurements.

Final Thoughts

We all want to be productive. But time wasters, procrastination, and laziness sometimes get the better of us. If you’re facing such difficulties, don’t be afraid to make use of these rituals to help you conquer them.

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More Tips to Conquer Time Wasters and Procrastination

 

Featured photo credit: RODOLFO BARRETO via unsplash.com

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