People who are rich has high bank balance and huge assets. They live life in luxury and indulgence. This is our typical definition of rich. This is not wrong. People who are rich has earned this tagline. If a common man can learn the science of getting rich from such teachers, it will ensure maximum benefits.
But the REAL difference between a rich and poor is not only wealth, there is a huge difference in their mind-set as well.
If a poor can evolve and develop a mind-set like rich, he will eventually become rich. In fact this is the core of ‘the science of getting rich’. As evolving mind can turn this world upside down.
As Napoleon Hill says, One can “Think and Grow Rich”.
Generally common men knows only one way of making money. They do their job and earn paycheck.
But rich people make money from variety of ways. It is not necessary that, all ways of making money are lucrative. But the sum-total of all the ways of making money, becomes a substantial value.
Majority people earn money from only one source. But rich people earn small-small income from hundreds of sources. This is also one reason why they are so independent people. Rich people are not dependent on only one earning source.
This is the science of getting rich? Yes, this is the basic philosophy.
But more needs to be learned to execute this theory to perfection. Probably this is the reason why experts say that money making is an art (science). Only those people who can master this art can become rich.
Common people just have desire to become rich, but they have no action plan. Having no action plan and just holding strong desire is not so useful.
It is essential for people to have desires. This is the first step. But it is also essential to convert those desires to meaningful action. Rich people learnt this trick very early in their lives.
The science of getting rich
People must be mentally ready to implement the process of getting rich. Some people have natural ability to handle money better. For them getting rich is comparatively easier.
But not many people are born with such mind-sets. Only a tiny minority has those inherent skill withing themselves.
Majority need to learn and develop the mind-set like a rich person. People has to graduate in the science of getting rich, to make more money.
In this blog post, we will see those mind-sets that can make a person really rich.
#1. Rich people have an eye for good investments
Suppose you see a house in your locality being sold at 30% discount to its market price. Would you go ahead and buy it anyways?
More often than not, common men get excited on seeing the opportunity, but soon the excitement bubble bursts. The result is, no action.
The reasons for getting disinterested may be lack of funds, not being prepared, lack of requirement etc. But will men having mind-set of a rich person behave like this? Very unlikely.
Most certainly, they will do everything to grab the opportunity.
People with evolved mind-sets like rich, have an eye for good investments. An asset which is available at such discounted price levels will never be spared alone.
It is the opportunity that evolved people grab in their lives, makes them rich.
If Mark Zukerberg, Chairman and CEO of Facebook, had not acquired Instagram (in 2012) and Whatsapp (in 2014), he would have been this successful today.
#2. Rich people give themselves stretch targets.
If gymnasts do not stretch enough, they will never perform the way they actually do. Similarly in personal life as well, giving oneself stretch targets is necessary. Improvements will happen only if one has ‘desire to improve’.
This desire for improvement is like setting ‘stretch targets’.
People who have mind-sets like rich often set targets like this:
– Earn more & spend less,
– Invest more & earn high returns,
– Accumulate more assets,
– Double your passive income etc
This is what the science of getting rich asks people to do. It pushes peoples and their brains to achieve better.
Living in comfort zones will only eventually leads one to mediocrity.
Had Sachin Tendulkar not given himself the stretch target of 100 hundreds, he would not have played Cricket successfully for for so many years.
#3. Rich people are very productive in work.
What average people do to make money? They work hard for a month and eventually earn the paycheck at the end of the month. But rich people do not work like this.
So, rich people do not work hard? They also work very hard, in fact, some rich people work harder than common men. But people who have evolved mind-sets like rich, knows that only working harder is not going to work. Doing hard work is not the key.
The idea is to do productive work. Every work that rich people do, generates more money for them.
Rich people can exactly correlate their work with the money it generate.
Common men has only hazy correlations, hence they are less rich.
Evolved people has very clear correlation, hence they are richer.
This is one reason why rich people can work hours together without getting tired. This clarity that, the more they will work, more money will flow in, makes them extremely productive.
This is perhaps the real science of getting rich.
A writer like Chetan Bhagat knows that, his one novel can make him millions of dollars. Hence he takes that extra effort to make his novels extremely appealing to the masses.
#4. Rich people do not work only in their comfort zone.
Doing a job is a good thing. But when people start becoming too comfortable in their jobs, its a sign of danger.
Getting comfortable means, people take it for granted that no matter what happens paycheck will come at the end of the month.
The higher is ones paycheck, more comfortable the person gets.
The science of getting rich tells people to move out of their comfort zones. One must have at least two source of income. One is paycheck and other should be like, income from investments, from small business etc.
If one wants to become rich, they must develop an alternative source of income (other than the paycheck).
Remaining in job and earning paycheck can never make anyone really rich.
A typical example of moving out of comfort zone can be, preventing yourself to use your paycheck for one month. Take a plea, do not touch your salary. Use your accumulated savings, and other income, to manage day-to-day activity for one month.
#5. Rich people never doubted that they can become millionaire one day.
Rich people think differently about money. This is a fact. But what makes them really different is their belief that they deserve to be rich.
They keep pumping-in positive thoughts withing their mind, and keep getting inspired. Before rich people made their first dollar, they knew that they will become a millionaire one day.
But what makes rich people so optimistic and upbeat?
Rich people not only dream, they keep converting their dream into reality by implementing their ideas. Some ideas fail, some ideas click. But they never stop on setbacks or on laurels.
They know only one thing, the day they stop trying they will stop getting richer.
A good example is right in front of our eyes. Had Binny Bansal and Sachin Bansal did not have belief in their idea and capabilities they would not have created Flipkart for India.
Disclaimer: All blog posts of getmoneyrich.com are for information only. No blog posts should be considered as an investment advice or as a recommendation. The user must self-analyse all securities before investing in one.