You rarely take it seriously. If you're not invested in your relationships, you're probably more focused on what you can get than what you can give. When it comes to self-improvement, investing 10 percent of your income in yourself will yield a X or more return on that investment. For every dollar you spend on your education, skills, and relationships, you'll get at least dollars back in returns.
If you want to do something extremely well, you need to surround yourself with the right mentors. Anything that you'll ever do well will be the result of high-quality mentoring. If you suck at something, it's because you haven't received quality mentoring in that thing. The best mentorships are the ones where you pay your mentor. Often, the more you pay the better, because you'll take the relationship far more seriously.
You won't solely be taking in that relationship. You won't purely be a consumer. Instead, you'll be invested, and as such, you'll listen more carefully. You'll care more. You'll be more thoughtful and engaged. There will be higher consequences for not succeeding.
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But in those four or five hours, he taught me what I needed to know to create an amazing book proposal. He provided me resources that dramatically enhanced and sped up my process. With his help, I was able to get a literary agent and eventually a multi-six-figure book contract. At the very most I'd have written a terrible one. I would not have been as motivated or invested, so I would have been far more likely to procrastinate needed action. If you don't have much money, surely you can afford to buy a book. How much money and time do you spend on entertainment, clothes, or food? It's a matter of priority.
Beyond mentorships, you should invest in education programs, such as online courses and books, and quality products to help you eat and sleep better. Your level of success can generally be directly measured by your level of investment. If you're not getting the results you want, it's because you haven't invested enough to get those results. When left to their own devices, most people consume their time as well.
It is only by investing your time that you get a return on that time. Nearly every second spent on social media is consumed time. You can't have that time back. Rather than making your future better, it actually made your future worse. Just like eating bad food, every consumed moment leaves you worse off.
Every invested moment leaves you better off. Entertainment is all well and good--but only when that entertainment is an investment in your relationships or yourself. You'll know if it was an investment if that entertainment continues to yield returns over and over in your future.
That may include positive memories, transformational learning, or deepened relationships. Still, life isn't purely about being entertained. Education is also key. And although both are essential, education will provide far greater returns in your future. The world's most successful people are intense learners. They are hard readers. They know that what they know determines how well they see the world. They know that what they know determines the quality of relationships they can have and the quality of work they can do. If you are constantly consuming junk media, how can you possibly expect to create high-value work?
Your input directly translates to your output. Garbage in, garbage out. Just as a large majority of your downtime should be spent learning, so should a great deal of your "working" time. Wealthy and happy people work to learn.
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Unsuccessful and unhappy people work primarily for money. Only 20 percent of your energy should be spent doing your actual work. The rest should be spent learning, improving yourself, and resting. It is by "sharpening your saw" that you'll continue to become a better and more capable person. Thus, as you dedicate large portions of time to becoming a better thinker, communicator, and better at your craft, the quality of your work will continue to increase.
Eventually, you'll be able to charge very, very high fees for your work, because no one else can do it like you. When you prioritize learning and recovery, then you'll be in a deep flow state during the hours you are actually working.
You won't be distracted, like most people are when they work. You're either percent on or percent off. While working, you can get more done in a few hours than most people get done in a number of days. Your time is spent well because your priorities are clear, you're well-rested, and your mind is stimulated.
Knowledge is worthless unless it is applied. In our media and information age, there are a million things you could learn. But if you don't put that learning into immediate practice, it becomes shallow information. It takes wisdom to determine what you should learn, why you should learn it, and when you should learn it. Unless you're invested, you probably won't learn with the intensity needed to maximize that knowledge. Unless you understand the value of your time, you probably won't have the discernment to ignore almost everything while learning that which will bring the highest return.
When you learn something, you should get a return on that learning. Far too many people read books now just to say they've read lots of books. If you're not applying what you're learning, your consuming and wasting your time. Even those who have high incomes are not truly wealthy.
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Most people's lifestyles match their incomes. When they make more, they consume more. In fact, most people make money solely to consume. It's best to think of your business as only half of your income equation. You have your business which brings income. Then, you have your investment entity to turn your income into even more money. Like anything, how well you manage your money is determined by how well mentored you are.
If you want to become brilliant with money, invest in education and mentoring. The best time to plant a tree was 20 years ago. The best time to start investing was also in the past. If you haven't started yet, don't sit and wallow in regret. Tomorrow doesn't exist for people who don't do something today. Start today. Get yourself educated. Create a vehicle, or several vehicles, where you put at least 10 percent of your income. Eventually, your investment vehicle may even start producing more profits for you than your actual business. Compound interest is a real thing. If you put 10 percent of your income into your investments over a long enough period of time, you'll be set.
Unlike the majority of high earners out there, you'll be able to stop working whenever you want, because your money is making more than enough for you to comfortably live on. However, once you become more consciously awake to the world, your desire will shift from merely receiving to giving. You'll realize that it's actually far more satisfying to give than to get. Moreover, you'll be driven by a cause you fully believe in. When your motivation is to give, you'll often get insights about how you can improve your relationships.
Random thoughts will pop into you head to send "Thank you" notes to various people. You'll start contributing more, which will lead to far more opportunities and deeper relationships. People will come to love and trust you. Your work will be motivated by a higher cause, and thus will be far more inspired and impactful.
The truth is, everyone is highly dependent on other people to do what they do. But it takes wisdom and humility to openly acknowledge that dependence. Rather than seeing it as a weakness, realize that it's a strength. Beyond acknowledging your dependence, constantly express your appreciation to the people in your life. That which you appreciate, appreciates.
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Relationships are assets that can and should grow bigger and better over time. If you don't appreciate and give to your relationships, your relationships will suffer. All relationships are like bank accounts, and if one person is constantly depositing and the other person is constantly withdrawing, eventually all of the resources become depleted. When two people are continually giving and receiving, the relational bank account continues to grow and expand, providing several intended and unintended benefits.
For example, I was recently at the gym with my brother. At the beginning of the workout, he was struggling mentally. He wasn't adding to my energy and helping my workout become better than if I was alone. Instead, he was sucking my energy and causing me to exert more energy and effort than if I was alone. I made him aware of what was happening, and he immediately shifted his emotional posture. He realized how dramatically his mood was affecting me. His motivation shifted from consuming an experience to creating something great.
Our shared mental state heightened, taking us into group flow. Our workout become far superior to anything I could create on my own. Not only that, but we began to engage in inspired conversation. This led to brilliant insights and connections that were relevant to the book I'm writing. The amazing workout was the intended outcome of our synergy.
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The insights for my book were unintended benefits. This can only happen when both parties are actively giving and receiving from the relationship. Where both are focusing on creating rather than consuming. Where both have the primary motivation of helping the other person succeed. Competition is focused on the self. It's also very low-level thinking, because what you can do on your own is very limited. People who are competing are grinding. They're more focused on winning than creating real solutions. However, when your thinking becomes expanded, you realize you could do so much more with other people.
Collaboration creates unique connections working by yourself never could. You have skills and knowledge that are awesome in your field. There are other people in different fields who have skills and knowledge completely outside of your current awareness. These people also have assets you don't have. If you want to get 10X or X the results of other people in your field, you need to develop strategic "win-win" partnerships.
This generally happens when you devise a plan where your skill sets and assets merge with the skill sets and assets of someone else. What you can do well, someone else may struggle with. What you struggle with, others can do extremely well. What types of partnerships could you develop that would allow you to more quickly achieve your goals and help them more quickly achieve theirs?
The whole becomes different from the sum of its parts.
This is how transformation occurs. Only those who engage in collaboration actually experience true transformation. People who only work well by themselves are stuck in their own narrow worldview and agendas. When you merge with others, your ideas and goals change. The key is to get in front of those who have it — investors or potential buyers — and provide them with value. No matter how much you increase your income, "stay broke," writes Cardone.
Once I start increasing income, I immediately moved the surpluses to sacred accounts that were out of my reach and marked for future investments. This is a way of paying yourself first : Cardone invests his money before paying anyone else. This way, he's never even tempted to spend or waste money that's sitting around. Plus, when you're broke, you're motivated, he says: "This state of staying broke forced me to continue producing new revenue … and to keep reinforcing the actions that had already proven successful.
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Following Cardone's steps is just the beginning. You have to "repeat and reinforce" these steps, he says, if you want to continue building wealth. But the rewards can be massive: "You can be a billionaire, deca-billionaire, or richer if you simply think bigger from the start and then hyperfocus, and repeat the steps I have laid out. Don't miss: 3 self-made millionaires share their No. Get Make It newsletters delivered to your inbox. All Rights Reserved. Skip Navigation. The Definitive Guide to Business. VIDEO Simple steps to get rich from a self-made millionaire.
Make It: Voices. Step 1: Mentally commit Getting rich starts with your mindset — with the belief that you really can accumulate wealth. The trait shared by billionaires around the world.
Make It. Step 2: Do the math Next, crunch the numbers to see what it actually takes to reach seven-figures , or whatever your personal goal is. Self-made millionaire: You should work through the holidays. Step 3: Increase your income "Once you've done the math and realize how real it is to get super rich, you need to focus on increasing your income streams," writes Cardone.