How to become wealthy is an intriguing question. Sure, you could win the lottery or get a fantastic job that pays you ridiculous amounts of money.
Then there’s the question of what it means to be rich. Are you even looking for the right rich?
Think and Grow Rich, authored by Napoleon Hill, is a self-improvement book about achieving success and wealth in 1937. It is one of the most read books of all time, having sold over 70 million copies worldwide.
The problem with becoming “rich” is that it requires significant time and effort. Get-rich-quick schemes are almost always nothing more than a way to prey on those in financial difficulty. Unless you’re from a wealthy family and inherit a large inheritance, you will most likely have to become wealthy through hard work and financial diligence.
Be driven by a strong desire
You’re going to need a strong desire to become wealthy. Few people achieve success without possessing a burning desire to succeed at all costs.
This entails more than just straightforward sacrifice and hard work. It implies that you must be prepared to go above and beyond.
You must make sacrifices that many people won’t. It’s important to stand out from the crowd. Look at a few of these well-known blunders:
When Thomas Edison attempted to create light, over 10,000 of his experiments were unsuccessful. Later on, he created the light bulb.
Despite creating well over 900 paintings, Vincent Van Gogh only ever sold one. His other paintings didn’t gain notoriety until after his passing.
As a sophomore, Michael Jordan was dismissed from his basketball team. He is now regarded as possibly the best basketball player in history.
TWENTY-SEVEN different publishers rejected the first children’s book by Dr. Seuss. He is famous one of the most well-known children’s writers in history.
When J.K. Rowling decided to write a book, she was a single mother who relied on welfare. Later, D.r Seuss turned that book into the first volume of the Harry Potter series.
They were genuinely driven to succeed in their endeavors.
They also never had the intention of becoming wealthy.
Think twice the next time you consider giving up on your objective. Without a genuine burning desire, you’ll never achieve financial independence (or whatever else you’re after).
Set specific objectives
You may never be able to stay on track unless you have clearly defined goals. Set your sights high as well. Others will have their doubts. There will be those who believe your goals are unrealistic and unattainable.
This is where many people give up on achieving financial independence (or any other goal for that matter). Others can easily influence us, especially when the odds are stacked against us.
You will never succeed unless you have unwavering faith in yourself.
Make use of autosuggestion
Not autocorrect, please. Autosuggest. Autosuggestion is a technique for hypnotizing yourself and tricking your mind into assisting you in becoming more successful.
This isn’t your typical hypnosis in which you watch the clock and fall into a trance. According to Napoleon Hill, one of the first things you should do is read your goals aloud.
You’ll be able to remember your goals by hearing your voice and repeating them. This will allow you to reach your objectives more quickly. Essentially, you must persuade yourself of three things:
Obtaining your objectives
- Converting your ideas into reality
- Going your way with assurance
- Using this method may allow you to become wealthy sooner than you anticipated.
Always be learning
Apple co-founder Steve Jobs
Richard Branson, the Virgin Group founder
Michael Dell, founder of Dell Computers; Dave Thomas, founder of Wendy’s
What are those four guys in common? They all dropped out of college. So, why do we believe formal education is required to become wealthy and successful?
It’s one of the most common mistakes people make when they stray from the path to true wealth. We believe that because we do not have a Harvard education, we will never be as successful as someone who does.
No, you don’t.
To amass a fortune, we must constantly learn and grow. If you sit on your ass and watch Netflix, you will never be wealthy or successful.
Consider the first point I made above: have a burning desire. You will never grow if you do not want to learn. This does not have to take the form of formal education. Learning from experiences is far more beneficial than memorizing facts from a textbook. We should put ourselves in or seek out situations that will provide us with experiences.
Experiences in which we can apply our strengths to learn. Sure, we’ll fall. But here’s the best part: we get back up and learn from our mistakes.
Hill also emphasizes that we do not need to know everything ourselves. This is a common human flaw.
Create multiple revenue streams
A millionaire typically has seven sources of income. Why? When you diversify your income, you create financial stability and accelerate the growth of your wealth.
You can generate two income streams instead of relying solely on one if you also work a day job and have a side business. If you lose your job for any reason, your side hustle will still provide you with income. If your side hustle is profitable, you can even turn it into a small business.
Income streams include your main job, a side job, passive income, investment accounts, interest from savings accounts, and rental properties. The options are limitless. To become wealthy, you should create multiple income streams.
It is critical to recognize that many get-rich-quick schemes are schemes. Instead of seeking a get-rich-quick scheme, concentrate on creating multiple income streams.
Surround yourself with cheerleaders
We frequently surround ourselves with doubters, and critics bring us down because they are familiar. Anyone who wishes to become something they are not must surround themselves with people who are already there or are on their way.
No matter how unlikely your ideas appear, these people will encourage you rather than discourage you. Motivated individuals can serve as role models and aid one another in achieving their objectives. Do the next best thing if you don’t have anyone close to you or in your life who fits this description. Find out about someone who does. Reading biographies of people who have accomplished similar things keeps you motivated and on track.
Perhaps you’ll come up with your ideas based on their business acumen. Consider those who did not inherit wealth and privilege; rather, think about those who struggled before finding success.
BY: HAMMAD KHAN