Everyone wants to be a billionaire, but no one wants to change the habits that are keeping them broke. Sad but very true reality. You know, a lot of people fail to realize that business is war and there are certain habits that most wealthy people have in common. And while they all are very simple changes that damn near anyone can make, without forming these 6 habits, you drastically reduce your chances to negotiate your way to wealth.
Read: Studies have shown that 90% of wealthy people read daily. More importantly, they don’t just read for fun; they read to learn. Knowledge is power and thus can be leveraged into creating wealth. Essentially, the more industry knowledge you have, the more valuable you become to those you service or sell to.
Exercise: Another common factor is that the wealthy understand the importance of good health which is why nearly all wealthy people incorporate some sort of routine exercise into their day. You may be asking yourself, how does exercise connect to wealth in any way. Well, exercise has a lot of lasting benefits not just physically, but mentally as well. Exercise leads to better brain function, reduced stress, and increased overall happiness. All of which makes the path to wealth much more sustainable.
Goals: The top 1% didn't make it to the top by just winging it. They had a plan in place and executed. Of course, it's important to have long-term goals, but the “Rich Habits Study” shows that the majority of wealthy people focus on executing daily goals. Not to mention, these are people that aren’t expecting any handouts. So, they don’t just set the goals and hope they reach them. They also actively participate in dream setting activities. This is something outside of work, such as engaging in some side hustle or spending time creating one or more additional streams of income.
Save: There’s no doubt about this one, you have to learn how to save money if you want to become wealthy. In fact, 94% of wealthy people save at least 20% of their yearly income. A lot of them suggest an even higher amount. At the end of the day, you don’t become wealthy by earning a ton of money, you have to keep it. You can’t just mindlessly spend your money if you want to build real wealth, learn to live frugally. It also requires that you learn to spend your money thoughtfully and not emotionally.
Relationships: Yes, you bet...a a lot of the time it’s not what you know, it’s who you know. If you want to become wealthy, you have to build and nurture the right relationships. You have to get out and network on the regular. More importantly, when you meet important people, you have to keep in contact with them. No, I'm not saying you have to call them up every chance you get, but it’s nice if you reach out to them every once in a while. Whether it’s to acknowledge a major life event they just went through or just to say hello on occasion, the fact that you are taking the time to nurture that relationship will help you get a lot further.
Wake-Up: No, literally wake up! The early bird gets the worm. Joining the “5 AM Club” will catapult you to success. Not because you’re getting to work earlier than most, but it's actually quite the opposite. Waking up a few hours early will give you the opportunity to do important activities like a workout, read, and even meditate so that you are prepared to put your best foot forward during the rest of your day. It’s essentially like warming up the car in the wintertime before hitting the road.
They say that the definition of crazy is doing the same thing repeatedly and expecting different results. Well, you’d definitely be crazy to fail to realize that the reason you’re not wealthy is that you have some really bad habits. It’s time for you to change that. By developing these simple habits, you’re putting yourself at the front of the race. So make these real-life changes and go out and take the lead.
Ziad K. Abdelnour, Chairman, President & CEO of Blackhawk Partners Inc, is widely regarded as one of the world's top business leaders. In addition to being a best-selling author, he is also a founder and Chairman of the board of the Financial Policy Council.