• Thursday, July 25, 2024
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BusinessDay

Thinking like the rich

Wealth-Mindset

The rich and financially successful are worthy of emulation. The very few who have been able to acquire wealth through dint of inspiration and perspiration has worthy experiences and tales that could be extremely useful to those who intend to become like them.

Unfortunately those who are not wealthy do not seem to want to emulate the rich. They tend to be envious and detest the successes and progress that the rich have made. Granted the rich can be obnoxious, lousy and extremely arrogant, but this does not change the fact that they are successful. Those desiring to replicate their success would do well to focus on the tips, strategies and skills deployed to produce success, instead of on their inadequacies.

Being resentful of those who have what you desire will only make what you desire move even further away from you. This is one of the reasons why many people do not achieve wealth and riches; their resentment continues to drive wealth away. Resentment usually brings in a lot of negative emotions such as anger, envy, bitterness and spite which are unhelpful on the road to wealth as they clutter your mind.

It is advisable to instead use the time you are building wealth to research on the rich. You desire wealth, yet you have never read a single biography about any rich person. If this is the case then you are most probably wishing and dreaming about becoming wealthy. The secrets of the wealthy are in their stories and experiences which you can adapt to your own situation.

Peter J. Daniels, the richest man in Australia is reputed to have read over six thousand biographies. Bill Gates is also reputed to read and review several books every year. In fact a study of the most successful people in the world credits them as being voracious consumers of knowledge acquired through books. No wonder they are successful. Those desirous of wealth have no excuse when the rich still continually improve themselves.

The reason why this is a compulsory activity for all rich “wannabes” out there is because the rich have also faced the same challenges and issues that you are currently facing on your road to wealth. Your situation and experiences are not peculiar. Perhaps by studying the rich you could receive the ideas or inspiration that can help get you out of the realm of lack to plenty.

There are also many pitfalls and mistakes that one could avoid by undergoing a detailed study of the rich. The truth is experience is not the best teacher, other people’s experiences are. If others have gone through it and you are well advised to avoid their mistakes then your race to wealth can be much quicker. This initiative can literally cut your delays on the road to wealth by several years.

One of the recent editions of Forbes Africa had on the cover the account of a Nigerian billionaire who lost everything but was able to bounce back into the billionaires circle. His Oil & Gas Company was taken over due to enormous debts but during the period he was able to reschedule his debts and repay them while purchasing controlling stake in another Oil & Gas company. The article literally chronicled the strategies he took to bounce back replete with lessons for every entrepreneur that could save one’s time navigating the route to success. Applying the very same priniciples and philosophies as he did will definitely give you the same results.

The truth is that wealth and riches start from the mind. It is also true that poverty and lack also start from the mind. Those with the poverty mindset need to exchange their attitudes, beliefs, character traits for that of those who have plenty. This in 2015 is where a lot of effort and energy needs to be expended instead of dwelling on what the rich are doing or not doing. Permit me to say one must stop being resentful, instead be researchful!