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Category: Personal Development and Success Habits
Tags: Business StrategyHealth and RelationshipsLifelong LearningProductivityWealth Habits
Entities: AppleElon MuskHoward SchultzMark ZuckerbergSpaceXSteve JobsTim CookWarren Buffett
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Have you ever wondered what separates the ultra wealthy from the merely rich? It's not just luck or inheritance.
And it's not even just hard work. It's habits.
Over the years, I've had the privilege of meeting and learning from some of the richest people in the world. Their mindset, routines, and daily
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practices are vastly different from the average person. So, today I'm breaking down nine habits that the ultra wealthy live by.
habits that you can start implementing today to set yourself up on a path to financial success. Money is
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just one part of true wealth. The ultra rich make it a habit to value their relationships and health just as much as their money.
Many successful entrepreneurs schedule out time to dedicate to their family and invest in their health rigorously as well as invest in relationships. See, if you
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have all the money in the world, but your health isn't great, and you're just sitting in a hospital, what's the point of having that money? And if you have great health and you have a ton of money, but you have no relationships, no family, no one wants to talk to you.
No one wants to be your friend. Life becomes really lonely.
No amount of
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money can compensate for loneliness or poor health. You want to dedicate time to exercising, to eating well, and to maintaining relationship.
For example, when I eat dinner with my kids and my wife, I am not on my phone. Instead, I'm talking to them.
I'm figuring out how
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their day is going. Even if my 3-year-old and 5-year-old tell me how their day is going and they want to say the same thing day after day, it doesn't matter.
I'm there to pay attention and hear them out. Because if you don't hang out with people now and take the time to build those relationships, later on in
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life, no one's going to want to hang out with you. And as for health, you can do something as simple as just walking 10,000 steps a day.
My average is around 10 to 12,000 steps each and every single day. Even on Christmas, I walk at least 10,000 steps a day.
On top of walking
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10,000 steps a day, five times a week, I lift weights. The weights don't have to be overwhelming.
You don't need to be a buff like a bodybuilder. The weights just need to be heavy enough so that way you can strengthen your bones and maintain your muscle mass, if not gain it by a little if you don't have tons of
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muscle mass. Wealthy individuals don't waste their time with small decisions.
If you look at Steve Jobs, he wore the same outfit each and every single day. And he just wore pretty much black.
Why? Because he didn't want to waste his time on little things that didn't matter.
In
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essence, he was eliminating decision fatigue. By eliminating decision fatigue, you can focus all your mental power on the things that actually matter and are going to help you accomplish your goals.
Also, when you get rid of decision fatigue, it reduces stress in your daily life and it increases your
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focus on high impact activities. When you have amazing focus on high impact activities, you're more likely to accomplish them in an efficient manner, have more time, and see better results.
What I like doing is leveraging AI. Think about all the mundane, boring
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stuff that you do on a daily basis. Can AI help you with any of those tasks?
If so, use AI. If you're doing things that require a VA, you can hire a virtual assistant in another country for pennies on the dollar that can help you out.
By just simplifying simple things that are
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just eating up your time, you can focus on more highlevel stuff that actually can have a bigger impact on your wealth. The latest I wake up is 4:00 a.m.
The earliest 3:00 a.m. And I'm not alone.
Many of the wealthiest people I know do the same. CEOs like Tim Cook and Howard Schultz start their days before the
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sunrise to get ahead. When you wake up early in the morning, you're not distracted by tons of meetings or phone calls.
This allows you to focus on your most important tasks. So, when I wake up early in the morning, I'm able to knock out a lot of my important tasks before my children wake up and before they're
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ready to eat breakfast and go to school. Mornings offer unriped time for deep work, planning, and execution without distractions.
For example, every morning I spend at least 30 minutes working on our marketing campaigns. These are campaigns that have a direct ROI such as
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our Facebook ads or YouTube ads or Google ads. These are high leverage points in my business that can make us more money not a year from now but actually the same day or tomorrow worst case.
And that's why I recommend people should wake up at least an hour earlier
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than they're normally used to. It's hard for people to shift their schedule from waking up at 8:00 a.m.
to starting to wake up at 3 or 4:00 a.m. But if you just start by waking up an hour earlier, you'll get a lot more done.
And then over time, you can work your way up to
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waking up at 3:00 a.m. or 4:00 a.m.
Wealthy people don't just try to free up more of the hours in the day. They also work smarter and with more intensity.
Wealthy people maximize their available hours and work with purpose. The simple thing you can do is start saying no to
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people. If people want a lot of your time and it's not going to help move the needle, just say no.
This will allow you to focus on the stuff that's really important. For example, reading, learning, listening to podcasts.
This is all important stuff. I set a dedicated amount of time for learning and reading
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and I try to limit it to no more than 30 minutes a day. On the flip side, I spend the majority of my time solving problems that can actually impact the business next week or next month to provide financial growth.
At the same time, you want to do this with balance. A lot of
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rich people, millionaires and billionaires, also save quality time for loved ones. For example, Elon Musk has a lot of videos publicly of him even in the White House with little X, his son.
So, you want to make sure that you're delegating time for different things and tasks. And when you're working on a
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task, try to block out small increments of time. If you put in an hour for a task, you may dillydattle and do other things in the hour.
But if you only give yourself 10 minutes, 20 minutes, 30 minutes max for a task, you know that you're much more likely to stay focused and get it done within that aotted time
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because you don't have too much time to goof off. No matter what you're doing, give it 110% of your attention.
You may not have as much time as other people, but there's a lot of parents that eat dinner with their kids and they're just on their phone the whole time. I rather spend less time eating and less time
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with my kids, but actually talking to them and getting to know them. You know, there's some families that spend 2 hours eating with their families, but they're on the phone roughly an hour and 50 minutes.
On the flip side, my dinner meal is roughly 30 minutes, but I'm giving my family undivided attention. Ultra wealthy individuals don't chase
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every new trend. They double down on their expertise.
If you look at Warren Buffett, he never really invested in tech companies until recently. He stuck to what he knew, and that's what built the majority of his wealth.
Sure, he made some money from companies like Apple, but that wasn't until later in
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his career where he hired a team who truly understood tech better than him. By sticking to what you know, you're less likely to make mistakes.
When you master one field and you get really, really good at it, it gives you advantage over other entrepreneurs who aren't as an expert as you are. within
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that field. This is how you get your upper hand.
You spend more than 10,000 hours on the same exact industry, mastering it, becoming better than everyone else. What you want to do is first identify your strengths.
Typically, what you love is what you're
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naturally good at as well. If that's something that you love and you want to keep doing and you can see yourself doing it for the long haul, go all in and get really, really, really good at it.
Wealthy individuals know that the bigger the market, the bigger the opportunity for wealth. Just look at
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Apple. They focus on the smartphone.
Not everyone has a computer, but most people have a smartphone. And that's led to billions and billions in revenue.
Heck, Apple is worth over $3 trillion. Why?
Because their product works for the masses. If you can create a product or
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service that someone needs to use each and every single day, it has massive profit potential. That's the key.
Look for something that people need to use each and every single day. It doesn't have to be the whole world.
It could just be a product for businesses, but if they have to use it each and every
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single day, you're on to something that could be potentially really massive. You also want to focus on industries with high demand and daily use.
The bigger the industry and the more people use it, the more revenue potential there is. The wealthiest people in the world fail a
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lot, but they never stop learning. Elon Musk's repeated rocket failures eventually led to SpaceX success.
Mark Zuckerberg hasn't won from every single product that he launched. Heck, he's not really talking about the metaverse anymore.
He's focusing on AI. Even Apple
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has had tons of failures. You just don't hear about them because none of those products really took off.
Those failures are a lesson. Those lessons help you refine your path to success.
If you keep avoiding all the stuff that caused you to fail, eventually you'll be led down a
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path to success. But the key is to track your mistakes, analyze them, why didn't they work, and then make adjustments so you don't repeat the same mistake over and over again.
The ultra rich don't just learn from other rich people. They learn from everyone.
Successful
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entrepreneurs listen to the younger generations, and they're also open to listen to anyone, even if those people aren't really smarter than them. You can always learn something new.
The question is, are your ears open to listening? And is your mouth shut?
Because you never know where you're going to learn
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something new that can change your life or your business. The world evolves fast.
You can't keep up with everything. Just look at how fast AI has progressed.
The key is learning from others and taking advice from people who have done things successfully. If you do that, you're much more likely to be successful
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yourself. Finally, the wealthiest people are avid readers.
Warren Buffett reads 500 pages a day. Bill Gates takes two week reading vacations.
When you keep reading, you're staying informed. This helps you with strategic decisionm and
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foresight. And many entrepreneurs even read books and biographies of entrepreneurs of the past.
By learning from some of these older entrepreneurs, you can figure out different strategies and methods to grow faster. Because although times have changed, a lot of business fundamentals and strategies are
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still the same that they were over 100 plus years ago. I recommend that you allocate at least 30 minutes a day to reading and learning.
And if you want to learn more about habits and experiences that contribute to my personal success running a thousand plus organization company, check out this next