During these tough financial times where there is an increasing shortage of jobs worldwide, and most businesses are struggling to survive, the world’s richest man Jeff Bezos added a record $13 billion dollars to his wealth in a single day. This is both scary and something to be admired and pondered upon that in these tough times where everyone is going into losses, or at least shrinking profits, how successful people stay ahead in times of crises? how can the richest people in the world add fortunes to their wealth?
Below I have compiled a list of habits and practices that are the most common in successful and rich people around the world. These habits help these people get ahead, and stay ahead of everyone else and incorporating them into your lifestyle can also greatly benefit you.
Only a healthy body can house a healthy mind. This is something we hear time and again but never truly appreciate. A healthy lifestyle will not only keep you more active, but will also keep you more motivated, and thus help you get more accomplished in less time.
The most common thing regarding personal care that we see in successful people is sleep. They are hardworking and may at times spend multiple-night awake trying to solve a problem, but this is not their normal routine. Most rich people have been vocal advocates of good night’s sleep and waking up early. By having proper sleep, we let our minds and bodies recover from all the hard work whereas waking up early gives us a head start against others.
Another integral part of the daily regimen of rich people is exercise. Lack of exercise makes us lazy and lethargic and at least some regular exercise is necessary in order to keep you fit and physically and mentally active. You can go for a daily run, or play a sport, but it is crucial that you include some physical activity in your daily routine to give you that extra energy you need to get ahead in life.
An average person reads one book per month while the CEOs of large companies read an average of one book per week. This is four times the normal while coping with a much tougher schedule.
Successful people know that knowledge is the most powerful thing in the world. Therefore, they find time for reading even in their busy schedules. By reading a lot of books, we not only gain knowledge that others lack, but it also keeps our mind in a learning state. Reading helps us gain new perspectives and keeping an open mind towards things. This helps us become more creative and innovative and allow our minds to come up with creative solutions to personal and professional problems.
When I tried to incorporate reading into my daily life, it seemed like an impossible task to finish a book every week. However, there are ways that you can do this without disturbing your life a lot. If you travel by bus or train, instead of listening to music on the go, you can use this opportunity to catch up with your reading. You may not get a lot of reading done like this at the start, but it is better than nothing. It is also a good idea to get rid of all electronic media before bedtime and spare at least half an hour to reading before bed. This will also help you sleep better if you are not looking at a screen at night.
An organized life is key to getting more accomplished. If you look at the life of a successful person, it moves like an intricate piece of clockwork. There is so much going on but everything is moving in harmony.
To start organizing your life, the best place to start is your room. This may seem silly but there is a very solid reason behind it. The state of your mind is reflected in your room and vice versa. A more organized room means a more organized mind. There should be a place for everything in your room and once organized, you should make it a habit of putting everything in its place. This will also save you the time and frustration of not being able to find your stuff when you need it.
You should also make a habit of planning in advance for the next day before you go to sleep as successful people do. It should be a prioritized to-do list for the whole day. You should always have your clothes ready at least the night before and have at least a few clothes ironed and ready to be worn on times where you are short of time. These little things can make your day more efficient and avoid wastage of time. The same practice can be applied on a weekly basis, as Jack Dorsey, Twitter co-founder, emphasized the importance of Sunday calling it the most important day of the week that allows you to plan ahead for the whole week.
Bringing positivity into your life and having a positive attitude towards everything is a key ingredient to success. One of the biggest differences between a successful person and an unsuccessful person is their perspective and their attitude towards what life throws at them. The later sees challenges in every opportunity while the former sees opportunities in every challenge.
Apart from trying to find the positive side of everything, we should also surround ourselves with likeminded people who also have a positive approach to life. Warren Buffet, the Oracle of Omaha, says that we should befriend people who support us and praise us from time to time. Although this may seem superficial, it helps us stay positive and gives us that extra energy that stops us from giving up on our dreams. However, this does not mean that we should shut our minds to constructive criticism as it can be detrimental in itself.
When we think about successful people, the first thing that comes to mind is excessive spending on lavish houses, cars, and vacations. However, it is a lesser-known secret that most of the self-made millionaires and billionaires live frugally.
Warren Buffet, one of the richest people on earth and a living breathing motivational story for us, famously gets his breakfast from the cheap fast-food restaurant McDonalds. Bill Gates, another self-made billionaire, said in an interview that when they both met for a meeting at a local McDonalds restaurant, Buffet pulled out coupons from his pocket when paying for the meal. It’s not like they could not afford a $100 meal, but they did not feel the need to spend extra when they could get the job done for less.
Frugality goes a long way when it comes to financial stability. Spending less and only on essentials not only lowers the financial burden, allowing us to focus more on real productivity but also helps us save and reinvest in ideas and businesses that lead to wealth creation.
The key here is to cut unnecessary expenses such as dining out, buying expensive clothes and shoes and spending more on luxury items with little to no utility. For this purpose, it is useful to classify everything that we buy into three broad categories: necessities, facilities and luxuries. The necessities are the things that are essential and we cannot function without them. This category includes items such as a place to live, transport, food and clothing. These are the things that we should never compromise on.
Facilities are things that also help successful people to be more productive. While an apartment is a necessity, one nearer to your workplace at a premium is a facility that saves you time, energy and money while going to and from work every day. The same goes for transport. While public transport fulfills your need to commute, a car is a facility that might save you time and energy and allow you to be more mobile in exchange for more money. For facilities, we should do a cost-benefit analysis and where the benefits of a given facility are higher than the costs, we should go for it.
The third category is luxuries. These include things like branded clothes, luxury cars, dining at expensive restaurants, fancy gym subscriptions and houses larger than our need. These things have a high perceived value in our society, but provide little to no real value. These things are to be avoided at all costs if you want to become more financially stable.
Keep an open mind
Keeping an open mind is the key to learning, and learning is the key to success. The ancient Chinese philosopher and the father of Taoism, Lao Tzu, beautifully summarizes the importance of learning in his book.
A person of great virtue is like flowing water. Water benefits all things and contends not with them…A virtuous person is like water which adapts itself to the perfect place.
This means that instead of trying to change our environment, we should always be ready to adapt to the changing environment around us. It makes sense as we have greater control over our own actions rather than anyone else’s. In order to change and adapt, an attitude change is required that promotes constant learning and development. This is how the more successful people stay ahead of everyone else.