The truth is that everyone wants to be rich. We secretly wish we could be like the rich. We look at them with a combination of admiration, envy and wonder. What exactly did they do to be so blessed? we ask, even when we can see what they’re doing with the naked eye.
On the other hand, we resent the poor regardless of our level of piety. We look at them with contempt. I hate sometimes! How did they manage to waste all the opportunities they had throughout their lives? We attribute all the ills of the world to the poor. Sometimes we secretly wish the government could “do something about it.”
Yes, the super rich rule the world. They live in the largest mansions and own the most elite properties. They ride in the most luxurious cars and marry the most beautiful women. When they speak, their words are broadcast by the media around the world.
The super-rich abounded in commerce, politics, entertainment, sports, information technology, finance, oil and gas, to name a few. In short, they abound in all spheres of human endeavor.
The following names, in no particular order, come easily to mind when we talk about the super rich: Andrew Carnegie, Joseph Rockefeller, Cornelius Vanderbilt, Bill Gates, Mukesh Ambani, Jack Ma, Elon Musk, Jay Z, Oprah Winfrey, and Madonna. Of course we must not forget, the richest as we read, Jeff Bezos.
The super rich can include Buddhists, Christians, Hindus, Muslims, unbelievers, blacks, whites, browns, mixed races, men, women, and people from all continents.
So what exactly separates the super rich from the poor? If not some undue advantage in opportunity, skin color, religion, intellect, industry, talent, place and time of birth, what?
The Seven Immutable Laws of Wealth seeks to identify the seven operating laws that you must live by if you wish to pitch your tent with the rich. Are here:
Develop wealth consciousness
This is the number one critical skill you must acquire if you want to be rich. The rich give their full attention to nurturing and multiplying their wealth. For example, Bill Gates attributes his wealth not so much to what he earns as a co-founder of Microsoft, but to the excellent work of his portfolio manager, Michael Larson. On the other hand, the poor spend their money on whims. They eat out, attend clubs, throw parties, celebrate, and donate lavishly just to be considered “rich.” In short, the poor guy is trying to copy the “Millionaire Next Door”. To be rich, be wealth conscious and focus your attention not only on making money, but on how to make it grow and make your money work harder for you. This is immutable law number one, I repeat.
use time well
Time is the most precious and scarce resource. As economists say, your supply is inelastic. You can’t store it or store it, you can’t stop it, and you can’t increase it. Effective use of time requires a mindset that detests procrastination and perfectionism. The super rich use time well; unfortunately the same cannot be said of the poor. While time is a summary, how you use it is a way of thinking. But do you know that the rich and the poor have the same amount of this priceless resource? From birth to death, the rich and the poor have the same amount of time each day: 24 hours. You will be rich to the extent that you use this limited resource judiciously.
Focus on one thing at a time
To be rich, develop FOCUS. Focus on one thing at a time. While the rich focus on one thing at a time, the poor generally pursue many ends at the same time, thus dissipating their energy. Every time the rich man pursues an end, he burns his boat and never looks back. On the other hand, the poor guy always covers his bets. Take Jeff Bezos as an example. He focused on e-commerce, Bill Gate on computer coding, and Jay Z on entertainment. On the other hand, the poor average person never pursues anything to the logical end. He can be in real estate today, network marketing tomorrow, and motivational speaking the next tomorrow. This approach is a recipe for poor performance, as these industries require different mindsets.
If you look closely, all rich people think big. Jeff Bezos is not just building an e-commerce company, but the most customer-centric company on the planet. Bill Gates went out not only to build Microsoft, but the largest software company in the world. Not to be outdone, Mark Zuckerberg’s empire now includes Facebook, Instagram, and Messenger. Thinking big is not about arrogance. It’s about being methodical, seeing the big picture of ‘what could be’. It’s about having an amazing vision of the future and navigating accordingly in the direction of that vision without getting distracted by other “opportunities” along the way. It’s about saying “No” to a thousand things so you can say “Yes” to the “one thing” that matters to you. So thinking BIG is one of the hallmarks of the rich. Really, why think small when you can think BIG by focusing on one great end at a time?
rub shoulders with the rich
Boxing promoter Don King once told Dennis P. Kimbro, co-author of Think and Grow Rich: A Black Choice, that his plan for becoming a billionaire was to “hang out with billionaires, learning everything they know.” . So he hatches a plan and finds a way to rub shoulders with the rich. By doing so, you will be sucked into the world of the rich. This will reprogram your mind. Hanging out with the rich isn’t just about networking, it’s about getting close enough to be mentored by the rich. What can you do to get on the radar of the rich? Write a book, start a podcast or YouTube channel to name three. You can’t be rich unless you reprogram your mind to think like the rich. The easiest way to do it is to enter the world of the rich through the back door, through what you do.
Most of the time, the things associated with the rich are Gulf Stream jets, super yachts, golf courses, Ocean Blue Islands, hot air balloons, and mansions designed in the sky. These are the ones you see on the front. But lift the curtain a little and what you’ll see in the back is hard work. Many believe that hard work doesn’t matter in today’s digital world, where you can “set everything to run on autopilot.” Beware; Could not be farther from the truth. Do you know that Jeff Bezos used to get on his knees to sort packages when Amazon started in 1995? He to date exhorts people from him “It’s always the first day”, that is, keep the entrepreneurial spirit of a start-up company. If you are not willing to work hard, then the idea of getting rich perishes. In Good to Great, author Jim Collins wrote about the “flywheel” concept. That’s what hard work is all about. Wealth is never created by standing with your hands on your hips.
Learning in this context is not about racking up lots of PhDs and MBAs in a variety of disciplines. Learning is not about endless webinars. It is about getting personal trainers to improve and perform at your best in all dimensions of life. It may interest you to know that some super-rich started out very poor, but by dint of hard work, they learned to overcome the bad luck that fate had in store for them at birth. A well-documented example is John H. Johnson of Ebony magazine fame, who in his day went on to become the 400th richest American. In his book, Succeeding Against the Odds, he claimed that his family was not only poor, but that they were the “poorest of the poor.” John H. Johnson learned to speak despite being born with a stutter; he learned to believe in himself despite being born into extreme poverty, he learned to sell and ended up buying the insurance company that employed him. So don’t blame your stars, just keep learning and wealth will be within your grasp.
If you follow the seven immutable laws of wealth mentioned above as a religion and let them guide everything you do, you will be rich beyond measure. Don’t forget, they include: Developing Wealth Consciousness, Using Time Well, Focusing on One Thing at a Time, Thinking Big, Rubbing Shoulders with the Rich, Working Hard and Keep Learning.