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Who Is The Richest Person In The World? And What Makes Him Rich?

Who Is The Richest Person In The World? And What Makes Him Rich?

According to Forbes, the richest people in the world in 2016 are

#1 Bill Gates 75B

#2 Amancio Ortega 67B

#3 Warren Buffett 61B

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#4 Carlos Slim Helu 50B

#5 Jeff Bezos 45B

Any common characteristics among them? Wonder how and why they got rich?

There is one secret that almost every rich person knows. This secret is very important because it’s the reason they are rich in the first place. This big secret can be summed up in the words of the mighty Aristotle: “We are what we repeatedly do. Excellence, then, is not an act, but a habit.”

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Rich people have gone through the painful process of forming rich people’s habits, and you can become financially prosperous as well if you make up your mind to do the same. Together, let’s examine 10 habits of the richest people in the world to help you make up your mind to make these habits yours, too.

1. They are goal setters

Rich people set goals that make them rich. People don’t become rich by accident. Rich people are very deliberate: they set goals to become rich and they eventually achieve those goals. The act of goal setting itself is a very rewarding exercise because it helps you to see and feel the money you want to have even before you get it.

2. They focus on one thing at a time

A laser beam can cut through very hard objects—it can cut through almost anything, in fact—and this is because of its unusual ability to concentrate all its power on a particular spot on the object until it begins to melt. Rich people are usually like laser beams. They set outrageous goals, but they stay focused on that one goal, directing all their activities and efforts towards achieving that goal until they accomplish it. Average Joes, on the other hand, often have no focus; they just tend to do whatever comes their way and take whatever life hands them. If you want to be rich, be goal oriented and stay focused.

3. They have great respect for time

Brian Tracy said that rich people think in terms of what they earn hourly rather than monthly or annually. Because they think hourly, whenever they are spending time on unproductive activities, they think about how much they are losing with every passing moment. Rich people don’t spend too much time on social media or watching TV. They work around the clock and cannot afford to waste any minute of their day.

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4. They spend less than they earn

As simple as this may seem, it is the secret to getting wealthy: always spend less than you earn. The problem with poor-thinking people is they increase their expenses as their income increases. They buy better cars, bigger houses and they remain poor or average. Think about this in terms of percentage; if you want to be rich then follow the motto, “Save 10% of whatever you earn.” But be smart about it. As Warren Buffet said: “Do not save what is left after spending, but spend what is left after saving.” I also advise that you work with a budget and that you keep an income and expenditure statement.

5. They work very hard

Except for people who inherited great riches, I have not seen any lazy rich person. Rich people work very hard and they also work constantly. People that work hard can’t be behind, they are always on top of their profession whether they are business people, self-employed, or even employees. They always do things that ordinary people cannot do.

6. They continually learn and grow

The more you know is the more you earn. Your learning power determines your earning power. As much as it is important to work hard, hard work alone will not make you rich. Before money can be earned, value must be given in return, and the only way to add more value to your clients is by first adding more value to yourself. This can only be done through continuous learning. Make up your mind to develop new skills and gain more experience every day.

7. They keep rich company

Rich people don’t have poor friends. As the old saying goes, “Show me your friends and I will tell you who you are.” Let me tell you something: you may not have so much money right now, but as long as you keep walking with rich people or those with the potential to become rich, you will someday become very rich yourself.

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8. They are persistent

Rich people don’t give up. About 90% of rich people today did not become rich the way they originally thought or intended. They tried, they failed, and they rose up again many times before they eventually succeeded. You may lose a lot of money in the process, but you’ll keep getting better by learning from your mistakes and experiences until you get the financial independence you desire.

9. They take calculated risks

Rich people are fond of taking risks. Once they decide they want to get something, they will give whatever it takes to get it, even if it means risking their lives sometimes. If you want to become rich, don’t be afraid of taking risks. Be bold and courageous, but also be calculative. Know what each decision will cost you and never put all your eggs in one basket.

10. They are generous

Rich people are very generous. If you look at the lives of the richest people in modern history, you will discover that a lot of them are great philanthropists: people like Rockefeller, Andrew Carnegie, Bill Gates, Carlos Slim, to name a few. Make giving one of your habits today and you will become very rich someday, too.

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Last Updated on May 21, 2019

How to Communicate Effectively in Any Relationship

How to Communicate Effectively in Any Relationship

For all our social media bravado, we live in a society where communication is seen less as an art, and more as a perfunctory exercise. We spend so much time with people, yet we struggle with how to meaningfully communicate.

If you believe you have mastered effective communication, scan the list below and see whether you can see yourself in any of the examples:

Example 1

You are uncomfortable with a person’s actions or comments, and rather than telling the individual immediately, you sidestep the issue and attempt to move on as though the offending behavior or comment never happened.

You move on with the relationship and develop a pattern of not addressing challenging situations. Before long, the person with whom you are in relationship will say or do something that pushes you over the top and predictably, you explode or withdraw completely from the relationship.

In this example, hard-to-speak truths become never- expressed truths that turn into resentment and anger.

Example 2

You communicate from the head and without emotion. While what you communicate makes perfect sense to you, it comes across as cold because it lacks emotion.

People do not understand what motivates you to say what you say, and without sharing your feelings and emotions, others experience you as rude, cold or aggressive.

You will know this is a problem if people shy away from you, ignore your contributions in meetings or tell you your words hurt. You can also know you struggle in this area if you find yourself constantly apologizing for things you have said.

Example 3

You have an issue with one person, but you communicate your problem to an entirely different person.

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The person in whom you confide lacks the authority to resolve the matter troubling you, and while you have vented and expressed frustration, the underlying challenge is unresolved.

Example 4

You grew up in a family with destructive communication habits and those habits play out in your current relationships.

Because you have never stopped to ask why you communicate the way you do and whether your communication style still works, you may lack understanding of how your words impact others and how to implement positive change.

If you find yourself in any of the situations described above, this article is for you.

Communication can build or decimate worlds and it is important we get it right. Regardless of your professional aspirations or personal goals, you can improve your communication skills if you:

  • Understand your own communication style
  • Tailor your style depending on the needs of the audience
  • Communicate with precision and care
  • Be mindful of your delivery, timing and messenger

1. Understand Your Communication Style

To communicate effectively, you must understand the communication legacy passed down from our parents, grandparents or caregivers. Each of us grew up with spoken and unspoken rules about communication.

In some families, direct communication is practiced and honored. In other families, family members are encouraged to shy away from difficult conversations. Some families appreciate open and frank dialogue and others do not. Other families practice silence about substantive matters, that is, they seldom or rarely broach difficult conversations at all.

Before you can appreciate the nuance required in communication, it helps to know the familial patterns you grew up with.

2. Learn Others Communication Styles

Communicating effectively requires you to take a step back, assess the intended recipient of your communication and think through how the individual prefers to be communicated with. Once you know this, you can tailor your message in a way that increases the likelihood of being heard. This also prevents you from assuming the way you communicate with one group is appropriate or right for all groups or people.

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If you are unsure how to determine the styles of the groups or persons with whom you are interacting, you can always ask them:

“How do you prefer to receive information?”

This approach requires listening, both to what the individuals say as well as what is unspoken. Virgin Group CEO Richard Branson noted that the best communicators are also great listeners.

To communicate effectively from relationship to relationship and situation to situation, you must understand the communication needs of others.

3. Exercise Precision and Care

A recent engagement underscored for me the importance of exercising care when communicating.

On a recent trip to Ohio, I decided to meet up with an old friend to go for a walk. As we strolled through the soccer park, my friend gently announced that he had something to talk about, he was upset with me. His introduction to the problem allowed me to mentally shift gears and prepare for the conversation.

Shortly after introducing the shift in conversation, my friend asked me why I didn’t invite him to the launch party for my business. He lives in Ohio and I live in the D.C. area.

I explained that the event snuck up on me, and I only started planning the invite list three weeks before the event. Due to the last-minute nature of the gathering, I opted to invite people in the DMV area versus my friends from outside the area – I didn’t want to be disrespectful by asking them to travel on such short notice.

I also noted that I didn’t want to be disappointed if he and others declined to come to the event. So I played it safe in terms of inviting people who were local.

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In the moment, I felt the conversation went very well. I also checked in with my friend a few days after our walk, affirmed my appreciation for his willingness to communicate his upset and our ability to work through it.

The way this conversation unfolded exemplified effective communication. My friend approached me with grace and vulnerability. He approached me with a level of curiosity that didn’t put me on my heels — I was able to really listen to what he was saying, apologize for how my decision impacted him and vow that going forward, I would always ask rather than making decisions for him and others.

Our relationship is intact, and I now have information that will help me become a better friend to him and others.

4. Be Mindful of Delivery, Timing and Messenger

Communicating effectively also requires thinking through the delivery of the message one intends to communicate as well as the appropriate time for the discussion.

In an Entrepreneur.com column, VIP Contributor Deep Patel, noted that persons interested in communicating well need to master the art of timing. Patel noted,[1]

“Great comedians, like all great communicators, are able to feel out their audience to determine when to move on to a new topic or when to reiterate an idea.”

Communicating effectively also requires thoughtfulness about the messenger. A person prone to dramatic, angry outbursts should never be called upon to deliver constructive feedback, especially to people whom they do not know. The immediate aftermath of a mass shooting is not the ideal time to talk about the importance of the Second Amendment rights.

Like everyone else, I must work to ensure my communication is layered with precision and care.

It requires precision because words must be carefully tailored to the person with whom you are speaking.

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It requires intentionality because before one communicates, one should think about the audience and what the audience needs in order to hear your message the way you intended it to be communicated.

It requires active listening which is about hearing verbal and nonverbal messages.

Even though we may be right in what we say, how we say it could derail the impact of the message and the other parties’ ability to hear the message.

Communicating with care is also about saying things that the people in our life need to hear and doing so with love.

The Bottom Line

When I left the meeting with my dear friend, I wondered if I was replicating or modeling this level of openness and transparency in the rest of my relationships.

I was intrigued and appreciative. He’d clearly thought about what he wanted to say to me, picked the appropriate time to share his feedback and then delivered it with care. He hit the ball out of the park and I’m hopeful we all do the same.

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Featured photo credit: Kenan Buhic via unsplash.com

Reference

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