“Money isn’t everything”

As hollered by working class parents, colleagues and friends to protect a wannabe Entrepreneur from the pain endured on the path to financial security.

To become wealthy one has to unlearn and then learn a myriad of new skills which all takes time.

Oh sure; we can win the 10 million to one chance Lottery or win a reality television talent show, and then lose it all as quickly as we gained the money as the vast majority of people who get rich quick do.

Maintaining wealth is just as hard to do as learning how to make it.

After meeting many wealthy people this is the advice I was so grateful for, and what wealthy minds never do:

Forget what wealth really means

Wealth to me means; whatever wealth means to you; it can mean making 1 million or beating cancer or getting that University place or just getting enough water to survive that day, it is such a relative concept.

The journey towards wealth starts with feeling blessed for what you have and having the wisdom to recognise what you cannot change.

Meaning of wealth

Confuse wealth and freedom

In the Western world and to those of us with shelter and food at least, we see many people high up in the echelons of employment have worked their way to a good degree of education and wealth but are time poor and are certainly not free by any stretch of the imagination, so the real wealthiest are the people who have developed a residual income and have made money work for money and receive a regular income whether they work or not.

Chase the money

We all remember what happened to Midas right? I only figured out the real metaphor behind this incredible parable late on in life. Which is; it’s foolhardy to focus purely on cash, yeah I know that sounds counter-productive right? Nope!

The wealthy know that if you concentrate on a goal that inspires and has a deeper emotion, the cash is a necessary bi-product of the goal. In other words if you focus and try hard enough using the law of attraction to  say; create a school in a poor village in Africa to educate the less fortunate, then the cash will naturally appear.

Close their minds

Two ears , one mouth, wealthy entrepreneurs have the ears to the ground all the time waiting for a great opportunity, they listen to every pitch, even if it is lousy, as they know it could be the stepping stone to a great idea. They never judge or assume, and they know even a homeless tramp may have an inspiring idea, The wealthy listen more, talk less and ask a lot of questions they will not accept any truth until it is the best truth they can find.

Invest in complicated liabilities

Kiyosaki wrote in his bestselling book ‘Rich Dad Poor Dad’; learning to know what is the difference between an asset and a liability is lesson Number one to any budding millionaire to be.

Warren Buffet one of the world’s most prolific Investors only invests in things he understands and would actually recommend.

Invest in Assets

Point is if you don’t have control and you do not really know what is happening to your money at any given time, you keep getting hit with hidden fees and you need to keep pouring money in and you don’t know why, then it could spell disaster.

Waste precious time

Wealthy people understand the essence of the human condition and that time is finite, it’s always later than you think. Sure driving is cheaper, than flying, but what can you achieve in the time saved by flying, you could meet someone with an amazing opportunity.

Time is Money

Secure people have all worked in menial jobs in their time, they gained all the experience they could and moved on, they know that trading time for money is a way of life for the vast majority and often it’s necessary to put a roof over your head, yet for them it does not make sense unless the work comes with a valuable learning experience.

Listen to deep analysis

Sure it’s prudent to complete your due diligence on any investments, but listening to Bloomberg all day won’t help that much. There is madness to the stock market that has ruined many an educated man. More often than one thinks children and dart board theories have highlighted the stock market for the extremely volatile wealth vehicle it really is.

The only safe way to invest or the way sophisticated investors make money is following your heart and through diversification, meaning eggs in a basket theory which is second nature to any wealthy person who understands money,

Forget their self –worth

It’s nice to be important, but it’s more important to be nice, it’s not a great life if you are sat on bundles of money with no family or friends to share it with.

Business trust

Wealthy people have people they trust implicitly, and have paid a great price along the way to gain that trust, and we don’t believe any person can be truly wealthy and maintain their standing by any underhand methods and feel safe and sleep well each night.

Netmedia owners of Bz-find are UK Government registered small business mentors and Entrepreneurs of over 20 years, let’s see how we can help your business.