All self-made millionaires had to start somewhere.
Much of their transformation from ordinary to seven-figure status can attributed to “rich habits,” a term coined by Thomas C. Corley, who spent five years researching the daily habits of 177 self-made millionaires.
“From my research, I discovered that daily habits dictate how successful or unsuccessful you will be in life,” he writes in his upcoming book “Change Your Habits, Change Your Life.” “There is a cause and effect associated with habits. Habits are the cause of wealth, poverty, happiness, sadness, stress, good relationships, bad relationships, good health, or bad health.”
The good news is all habits can be changed, Corley notes. Here are a few “rich habits” of self-made millionaires that you can start developing today:
“You are only as successful as those you frequently associate with. The rich are always on the lookout for individuals who are goal-oriented, optimistic, enthusiastic, and who have an overall positive mental outlook. It’s equally important to avoid negative people and influences. Negative, destructive criticism will derail you from pursing success.”
“Self-made millionaires do not rely on one singular source of income. They develop multiple streams. Three seemed to be the magic number.Sixty-five percent had at least three streams of income that they created prior to making their first million dollars. Examples of these additional streams are real estate rentals, stock market investments, and part ownership in a side business.”
“Finding a mentor puts you on the fast track to wealth accumulation. Success mentors do more than simply influence your life in some positive way. They regularly and actively participate in your success by teaching you what to do and what not to do. They share with you valuable life lessons they learned either from their own mentors or from the school of hard knocks.”
“Long-term success is only possible when you have a positive mental outlook. In a research, positivity was a hallmark of all the self-made millionaires.”
“We so desire to blend in, to acclimate to society, to be a part of the herd, that we will do almost anything to avoid standing out in a crowd. Yet, failure to separate yourself from the herd is why most people never achieve success. Successful people create their own new herd and then pull others into it. You want to separate yourself from the herd, create your own herd, and then get others to join it.”
“Self-made millionaires have mastered certain rules of etiquette principles you have to master if you want to be a success. These include sending thank you notes, acknowledging important life events, such as a wedding or birthday, eating politely and using table manners, and dressing properly for various social events.”
“Helping other success-minded people move forward in achieving their goals and dreams helps you succeed. No one realizes success without a team of other success-minded people. The best way to create your team is to offer help to other success-minded people first. You don’t want to give help to anyone and everyone. You want to focus on helping only those who are pursuing success, are optimistic, goal-oriented, positive, and uplifting.”
“Thinking is key to their success. The rich tend to think in isolation, in the mornings, and for at least 15 minutes every day. They spent time every day brainstorming with themselves about numerous things. The topics range from careers and finances to health and charity. They ask questions such as, “What can I do to make more money? Does my job make me happy? Am I exercising enough? What other charities can I get involved in?”
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