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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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Published on September 21, 2021

How Remote Work Affects Your Productivity And Wellbeing (Backed By Data)

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How Remote Work Affects Your Productivity And Wellbeing (Backed By Data)

The internet is flooded with articles about remote work and its benefits or drawbacks. But in reality, the remote work experience is so subjective that it’s impossible to draw general conclusions and issue one-size-fits-all advice about it. However, one thing that’s universal and rock-solid is data. Data-backed findings and research about remote work productivity give us a clear picture of how our workdays have changed and how work from home affects us—because data doesn’t lie.

In this article, we’ll look at three decisive findings from a recent data study and two survey reports concerning remote work productivity and worker well-being.

1. We Take Less Frequent Breaks

Your home can be a peaceful or a distracting place depending on your living and family conditions. While some of us might find it hard to focus amidst the sounds of our everyday life, other people will tell you that the peace and quiet while working from home (WFH) is a major productivity booster. Then there are those who find it hard to take proper breaks at home and switch off at the end of the workday.

But what does data say about remote work productivity? Do we work more or less in a remote setting?

Let’s take a step back to pre-pandemic times (2014, to be exact) when a time tracking application called DeskTime discovered that 10% of most productive people work for 52 minutes and then take a break for 17 minutes.

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Recently, the same time tracking app repeated that study to reveal working and breaking patterns during the pandemic. They found that remote work has caused an increase in time worked, with the most productive people now working for 112 minutes and breaking for 26 minutes.[1]

Now, this may seem rather innocent at first—so what if we work for extended periods of time as long as we also take longer breaks? But let’s take a closer look at this proportion.

While breaks have become only nine minutes longer, work sprints have more than doubled. That’s nearly two hours of work, meaning that the most hard-working people only take three to four breaks per 8-hour workday. This discovery makes us question if working from home (WFH) really is as good a thing for our well-being as we thought it was. In addition, in the WFH format, breaks are no longer a treat but rather a time to squeeze in a chore or help children with schoolwork.

Online meetings are among the main reasons for less frequent breaks. Pre-pandemic meetings meant going to another room, stretching your legs, and giving your eyes a rest from the computer. In a remote setting, all meetings happen on screen, sometimes back-to-back, which could be one of the main factors explaining the longer work hours recorded.

2. We Face a Higher Risk of Burnout

At first, many were optimistic about remote work’s benefits in terms of work-life balance as we save time on commuting and have more time to spend with family—at least in theory. But for many people, this was quickly counterbalanced by a struggle to separate their work and personal lives. Buffer’s 2021 survey for the State of Remote Work report found that the biggest struggle of remote workers is not being able to unplug, with collaboration difficulties and loneliness sharing second place.[2]

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Buffer’s respondents were also asked if they are working more or less since their shift to remote work, and 45 percent admitted to working more. Forty-two percent said they are working the same amount, while 13 percent responded that they are working less.

Longer work hours and fewer quality breaks can dramatically affect our health, as long-term sitting and computer use can cause eye strain, mental fatigue, and other issues. These, in turn, can lead to more severe consequences, such as burnout and heart disease.

Let’s have a closer look at the connection between burnout and remote work.

McKinsey’s report about the Future of work states that 49% of people say they’re feeling some symptoms of burnout.[3] And that may be an understatement since employees experiencing burnout are less likely to respond to survey requests and may have even left the workforce.

From the viewpoint of the employer, remote workers may seem like they are more productive and working longer hours. However, managers must be aware of the risks associated with increased employee anxiety. Otherwise, the productivity gains won’t be long-lasting. It’s no secret that prolonged anxiety can reduce job satisfaction, decrease work performance, and negatively affect interpersonal relationships with colleagues.[4]

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3. Despite everything, We Love Remote Work

An overwhelming majority—97 percent—of Buffer report’s survey respondents say they would like to continue working remotely to some extent. The two main benefits mentioned by the respondents are the ability to have a flexible schedule and the flexibility to work from anywhere.

McKinsey’s report found that more than half of employees would like their workplace to adopt a more flexible hybrid virtual-working model, with some days of work on-premises and some days working remotely. To be more exact, more than half of employees report that they would like at least three work-from-home days a week once the pandemic is over.

Companies will increasingly be forced to find ways to satisfy these workforce demands while implementing policies to minimize the risks associated with overworking and burnout. Smart companies will embrace this new trend and realize that adopting hybrid models can also be a win for them—for example, for accessing talent in different locations and at a lower cost.

Remote Work: Blessing or Plight?

Understandably, workers worldwide are tempted to keep the good work-life aspects that have come out of the pandemic—professional flexibility, fewer commutes, and extra time with family. But with the once strict boundaries between work and life fading, we must remain cautious. We try to squeeze in house chores during breaks. We do online meetings from the kitchen or the same couch we watch TV shows from, and many of us report difficulties switching off after work.

So, how do we keep our private and professional lives from hopelessly blending together?

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The answer is that we try to replicate the physical and virtual boundaries that come naturally in an office setting. This doesn’t only mean having a dedicated workspace but also tracking your work time and stopping when your working hours are finished. In addition, it means working breaks into your schedule because watercooler chats don’t just naturally happen at home.

If necessary, we need to introduce new rituals that resemble a normal office day—for example, going for a walk around the block in the morning to simulate “arriving at work.” Remote work is here to stay. If we want to enjoy the advantages it offers, then we need to learn how to cope with the personal challenges that come with it.

Learn how to stay productive while working remotely with these tips: How to Work From Home: 10 Tips to Stay Productive

Featured photo credit: Jenny Ueberberg via unsplash.com

Reference

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