The three steps to become richThe three steps to become rich

The three steps to become rich, people want to become rich and I think you can put in place three steps that will greatly increase your chances and none of them are difficult. Rich obviously has different meanings to different people and as such you cannot use a simple monetary value as a measure.

There are also people form all walks of life and in all sorts of industries making money each and every day, so it’s not just about your business, your ideas, your work ethic or even education. So I will start by providing a simple definition and yes that will have reference to earning money, as that’s a major driving force for me and most likely you too.

Being rich is having the ability to conduct my day-to-day lifestyle in a way that I find enjoyable, motivational and profitable, so my income not only covers but also exceeds the expenditure I require. To add to this, it’s important to know that I must not just be able to pay for my desired activities, I also must have the time freedom and the energy to do things too, as they say there is not point being the richest man in the graveyard.

So if I want a new home, I must be able to buy it and have time to move in to it, make alterations to it if required, redecorate and then time to enjoy it too. The same is true for hobbies, I love motor-racing and being able to afford to do it is one thing, but you also need to have the time, not just for the qualifying and racing, but also the testing, fitness training, coaching (as that is what makes you faster) and also the time to enjoy the experience.

Now at this point I am not going to pretend I have my lifestyle all sorted or that friends and family are not really critical to happiness, they are and for me always come first, but we all want to learn what we can do to be rich (since winning the lottery is extremely unlikely) and the first part of this is doing some research in to what helps people become rich and here are a few of the things I found out.

Rich people have more often than not failed in the past and on more than one occasion

They do however have a focus on a single opportunity or outcome and are committed to it

Rich people eat very little junk food, they also regularly exercise

Having a “to do” list and a set of written goals is another key feature of rich people

Rich people continually look to improve their ability to do something better, often by reading books, listening to audiobooks, attending events, even by finding a mentor or coach

Being a good communicator and networker is a trait of the rich

Rich people watch very little TV especially reality TV

They wake up well before they go to work, maybe 2 or 3 hours before

Rich people pay themselves first when the money comes in, but are not afraid to work hard with no reward to develop an opportunity

They are pro-active people not reactive anticipating issues, looking for market gaps and never taking things for granted

So what does this all mean (apart form the fact I need to get fit and healthier, get up even earlier than I do now and write down more things)? It shows that the rich make sure that they consider themselves and their own needs, feeding their minds and body with the right ingredients.

So next you need to establish what financially you are looking to make to be rich, which is different for every single person. This is an interesting one because being in the fortunate position I am in, I am regularly asked to help or invest in ideas and start-up businesses, something I have done for about 12 years now and the interesting thing is, that with some simple and quite fun analysis, I often get people to realise whether their passion is and if it will meet with their financial expectations (if you would like to do a simplified version of what I run through with people then just click here).

The final aspect is very simple but really the most difficult and is not negotiable, even if your goal is to win the lottery to become rich; you must take action. If you sit and wait for something to happen it will almost certainly not.

Making money and becoming rich, in all it’s elements requires time, effort, passion and commitment, no matter what your idea, business or current situation and if that’s not for you that’s OK, because being happy, not rich is the real goal most people have, which is why the entrepreneurs out there, which account for about 5% of any population anywhere in the world have the chance to do something and become rich.

So remember:

  1. Determine what your goals are and what income you need
  2. Build the right positive habits that help you reach your goal
  3. Take action, massive action.

So if you still want to be rich, here is some other advice that should help you decide if you want to take the next step towards becoming rich and I can’t claim this is my advice, I heard it from Srinivas Rao of BlogcastFM, who says something like:

The only thing that should stop you taking action is if what you do will Kill You, Bankrupt You or is Illegal, otherwise go for it.

I couldn’t agree more and remember, if you want to work out what it will take to be rich in your own eyes financially, take the test.

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By Adrian Fleming