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10 Things Rich People Do Differently From The Rest - Business - Nairaland

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10 Things Rich People Do Differently From The Rest by stanodi: 4:54pm On Jan 08, 2016
The road to riches can be trodden by anyone. But getting to the end means doing what it takes to get to the finish line. Given that some are aided by family inheritance, but it still takes thinking like the rich thinks to sustain the inheritance. It means paying the price in time and in other resources. Are you willing to do that to become rich? Here are some 10 things rich people do differently from the rest.

1. They know that not all debts are bad; there is good debt.
Good debt includes debts used in financing a business. Only last year, the commercial banks were publishing names of its highest debtors. And you guessed right, the richest man in Africa is also a debtor. But these debts are used to finance projects. Hence a good debt is a debt used to make an investment from which a future economic value is expected to accrue to the debtor.

2. Living well below their means;
Well it’s easy to think that it’s easier for rich folks to live below their means after all they have the money to meet the basic human needs and much more. True, but it’s not unheard of for rich guys to go broke. Remember he that is unfaithful in that which is least will also be unfaithful in that that is big. One way of accelerating your progress on the road to riches to live below your means and save the rest.

3. They come up with strategies and not excuses.
They take responsibility for their actions and inactions; it’s easier to blame others, the system, the weather etc. when things don’t go as planned. But despite the harsh business climate, some companies are still surviving, and a few are even thriving. So these guys look inwards and come up strategies to help them navigate the murky times.

4. Half-full way of thinking;
They look at a glass and see it half-full when others will come and say its half-empty. Both are correct, but there is a difference between them both. They spot opportunities where others see difficulties. For instance exchange may be hitting companies that depend on imports for their operations today, and while some will see is difficulties, others are legally profiteering from this situation.

5. They have high social capital;
Social capital according to Investopedia refers to the connections between individuals and entities that can be economically valuable. Social networks that include people who trust and assist each other can be a powerful asset. No one gets rich alone; you need the help and guidance of those around you. It’s totally counterintuitive to try and do it alone. That’s the way the world works, we are all meant to support each other. Rich folks know this.

6. They actively seek information;
From dailies, from their social networks. This information and investment opportunities inform their money choices and also some.

7. They measure in time;
Time is as important is their money, if not more. So they place a value on their time. Hence people respect their time. Start respecting your time, start measuring how the time you are spending is affecting your earnings power. The time you are wasting, someone out there is using the same time to improve themselves and their chances of making more money.

8. Healthy self-esteem
A belief in their abilities help spur them on to greater heights in life. Their confidence is not easily shattered by set-backs that would cripple others.

9. Understand their limitation;
They accept themselves. They don’t beat themselves up for what they don’t know.

10. Play to their strengths and outsource the rest.

http://lightednation.com/2016/01/10-things-rich-people-do-differently/
Re: 10 Things Rich People Do Differently From The Rest by lomprico(m): 4:59pm On Jan 08, 2016
In summary, they have enough money to take risks which pays out at times and when it fails, they have stash to fall back on and re-strategize. For d poor when it fails, its back to square one.
Re: 10 Things Rich People Do Differently From The Rest by ELGREF(m): 5:05pm On Jan 08, 2016
lomprico:
In summary, they have enough money to take risks which pays out at times and when it fails, they have stash to fall back on and re-strategize. For d poor when it fails, its back to square one.
I wanna give u 100 like if possible

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