There’s no silver-bullet formula to becoming wealthy. Anyone who says so is trying to make a little more of their own wealth off of you.
What is true is this: wealthy people do have many things in common—and I mean things other than the size of their bank accounts. I’ve worked with a lot of wealthy people, gotten to know many of them as my friends, and I’ve noticed a few traits they all share.
There are as many paths to wealth as there are kinds of wealth. You can’t find a mythical single path to wealth and riches, but what you can do is emulate the kind of person who will become wealthy.
How many of these 7 traits do YOU have?
1. Wealthy People Are Risk-Takers (they don’t sit on the sidelines)
“People who don’t take risks generally make about two big mistakes a year. People who do take risks generally make about two big mistakes a year.” ―Peter F. Drucker
Becoming wealthy requires taking some risks. It’s something you have to be willing to do if you want to make a lot of money. The essence of the entrepreneurial mindset is thinking big and being willing to follow through with it.
If you’re willing to take smart, calculated risks, you may make a few mistakes along the way (okay, you will)–BUT, the odds are that some of those risks will pay off. You’ll learn how to take an even smarter risk next time, and eventually those payoffs will add up to wealth.
You can’t win big if you don’t risk big. You can’t collect the big payout if you don’t place a large bet.
2. Wealthy People Are Hard Workers (they’re always on the move)
“Opportunity is missed by most people because it is dressed in overalls and looks like work.” —Thomas A. Edison
This should go without saying. After all, if you want anything in life—especially a big bank account—then you are going to have to work hard to get it.
The clock typically doesn’t stop at 5 p.m. for a wealthy person—the workday is a constant process. If you want to be rich, you’ll need to accept this as reality and learn to balance your life around it.
3. Wealthy People Are Positive (they never stay down for long)
“To accomplish great things we must not only act, but also dream; not only plan, but also believe.” ―Anatole France
Being positive is a very important piece of the wealthy-person puzzle. Being positive is knowing that things are always going to get better, and being convinced that anything can happen.
If you’re still honing your practical business skills, being upbeat and happy will go a long way as you learn. People are naturally drawn to a positive person. They’ll believe in your ideas and be willing to help you get there.
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4. Wealthy People Are Practical Dreamers (they have big, hairy audacious goals)
“If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.” ―Henry David Thoreau
Wealthy people dream about making a lot of money and being very successful. They typically set the bar rather high, which is the way you have to think if you plan on getting to the top.
Of course, you have to have a good plan in order to get there—which is where the word “practical” comes in. Hire a guide, do the training, and pack the right gear for the climb. In other words, find a great mentor, do your research, and equip yourself with the best product and the best people to launch your big idea.
5. Wealthy People Are Collaborators (they know they can’t do it all)
“If you have an apple and I have an apple and we exchange these apples, then you and I will still each have one apple. But if you have an idea and I have an idea and we exchange these ideas, then each of us will have two ideas.” —George Bernard Shaw
As humans, we will start to resemble who we hang out with, idolize, and choose to follow. So it’s crucial to put yourself in the company of successful people who will help you get to where you want to be.
When you get wealthy, successful, savvy people together, they always start to collaborate. It’s become part of their DNA. They know and play off of one another’s strengths. They share ideas, learn from one another, and everyone comes out even better in the process.
It’s not rocket science: Spend time with people you want to be like. Stay away from negative people. Find other rising stars and those who have made it to where you want to be, and be their friend.
6. Wealthy People Are Persistent (they never, ever quit)
“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.” —Thomas A. Edison
Not every wealthy person got what they wanted on the first shot. No, wealthy people have failed just like everyone else—sometimes more spectacularly—but they come back from failure stronger than ever. They might fail again, but they’re determined to grow even stronger every single time.
On the road to a wealthy life, you may hit a few bumps, detours, and potholes, but it is important to always stay hungry, and always keep fighting for your dream.
7. Wealthy People Are Learners (they’re always soaking up more info)
“No matter how much experience you have, how many degrees you have, or how well known you have become—there is always something new to learn. Don’t rest on your past experiences. If you do nothing to improve your skills, you won’t stay where you are.” ―Laura Spencer
Even though the rest of the world may think they have arrived, wealthy people are not afraid to learn new things. They’re smart enough to know that they don’t know everything.
If you’ve learned all there is to know, you’re probably dead.
Never be afraid to learn something new. Never stop wanting to learn. If you don’t know how to do something that will improve yourself, your life, or your business, then find a resource or a person and start learning!
Tally Your Score
How many of these 7 traits do YOU have? Which ones do you need to work on?
There are as many paths to wealth as there are people who find it. But all wealthy people possess these 7 traits.
Those who worked their way to wealth did it with these characteristics. They are simple enough to develop, so if you want to live a prosperous life, start working on them—and you’ll be on your own road to riches.
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