What is the biggest surprise about getting rich?

 

What is the biggest surprise about getting rich?

 

Some individuals feel that being wealthy is only a matter of chance. I don't agree. The essential question is not whether or if chance offers you with a good opportunity. Rather:

 

·         Do you see the opportunity that is there in front of you? Or are you unable to recognize it for what it is? "Chance shows me what I have an eye for," Swiss novelist Max Frisch famously stated.

·         Do you take advantage of your lucky break if you do identify it? Do you take action? Or are you the type that thinks, "Perhaps now isn't the appropriate moment." Perhaps it's something to consider someday..."

 

It is quite unlikely that someone will only ever have good or poor luck over their lives. In most situations, good and bad luck should balance out over many years and decades.

 

Setting Big Objectives

Jack Ma failed the university entrance exam, was bad in arithmetic, and didn't know much about technology. But, right from the start, he dreamed big and set lofty objectives for himself. "We don't want to be number one in China," he told a journalist shortly after launching Alibaba. We aspire to be the best in the world.” He was so certain in his future success that, in February 1999, he had one of Alibaba's early meetings recorded to ensure that this pivotal event in the company's history was captured.

 

Having the Ability to Overcome Obstacles

The majority of the superrich have experienced major failures and catastrophes. What strikes you about them is how they react when things go wrong. They seek for fault in themselves rather than blaming external factors or other people.

They don't whine about being victims of circumstance or their opponents' wicked acts; instead, they accept personal responsibility for their errors. They also don't make excuses for market downturns. They blame themselves if the market falls because they misjudged the market. This is frequently what separates successful individuals from failed people.

 

The power to Sell

that their ability to market was a big part of their success Selling isn't simply about selling items or services to customers. They use a far broader definition of sales. To them, selling is all about persuading others, whether it's obtaining government permission, convincing the ideal candidate to take a job, winning over colleagues, or persuading a lender to make a strong financial commitment. “Everything is for sale,” says the narrator.

 

Focus, Focus, Focus

Bill Gates Sr. brought some friends home for supper in early July 1991, including his son Bill Gates, Jr., the Microsoft founder, and billionaire Warren Buffett. These were two of the world's most successful men, who had been at the top of Forbes' World's Billionaires list for several years. “What aspect do you believe has been the most significant in getting to where you've arrived in life?” the host asked his dinner guests.

 

"Focus," Buffett said right away. Bill Gates, Jr. was in agreement.

 

For decades, Warren Buffett, too, had been fixated on a single aim. His childhood goal, according to his biographer Alice Schroeder, was to become wealthy. One Thousand Ways to Make $1,000 was one of his favorite books. Buffett predicted that he would be a millionaire by the age of 35 when he was 11 years old. He had already saved $5,000 when he was 16 years old. That would be worth around $60,000 now, which isn't bad for a 16-year-old. His forecast was only five years off. By the age of 30, he had made his first million.

 

Nonconformity: Taking Joy in Swimming Against the Current

Before starting his career on Wall Street in 1968, Jim Rogers studied history and philosophy at Yale and Oxford. He was able to establish the foundations for his riches and success through difficult periods for the US stock market.

At a large investment bank, Rogers met George Soros. They established the Quantum Fund as a team. They ripped up the investment banking rules by purchasing equities, commodities, currencies, and bonds from throughout the world. They were also among the first to employ cutting-edge techniques like short selling.

Rogers, unlike most other investors, purchased shares in firms that were in financial difficulties. He invested substantially in the aviation firm Lockheed in the mid-1970s, for example. Rogers once recounted a lavish meal with bankers and investors. Rogers had been purchasing Lockheed stock, according to one of the other visitors. Lockheed was embroiled in a variety of controversies at the time, and received negative news on a daily basis. The company's stock had plummeted in value.

 

"Who would invest in a firm like that?" one of the guests asked, his voice loud enough for everyone at the meal to hear. The laughing was shared by the other visitors. Rogers was humiliated since he was the punchline of their joke.

 

Rogers, on the other hand, had done his study and was correct in his assessment of the firm. The stock price soared, resulting in a large profit for his fund. While the 500 Index increased by just 47%, the Quantum Fund managed by Rogers and Soros increased by an astounding 4,200%.

 

The Ability to Gain Others' Trust

One of the wealthiest men in history, John D. Rockefeller, exemplifies the importance of trust in business. Realizing that "aged guys had trust in me straight away" was a key to the young Rockefeller's future success. Throughout his illustrious career, he stated that his greatest challenge was “obtaining enough funds to accomplish all the things I wanted to do and could do, given the requisite amount of money.”

As Rockefeller understood well, one of his most significant assets was his ability to gain the faith of banks and investors: "I owe my success in life primarily to my confidence in others and my ability to inspire their confidence in me." So, what's the most effective approach to gain other people's trust? By acting and, more importantly, thinking in a trustworthy manner. Every choice and action, according to Warren Buffett, must pass the following test: is it something you would want your wife, family, friends, and neighbors to read about the next day in their local newspaper?

 

Persistence and an eagerness to try new things

Persistence is emphasized in many texts, and it is true. However, perseverance is not a guarantee of success. It must be paired with another crucial quality: the desire to try new things. Experimentation is more vital than a well-thought-out company strategy.

Michael Bloomberg, who is ranked No. 9 on Forbes' list of the world's richest individuals with a net worth of $55 billion, discusses the beginnings of his firm. One of his main discoveries is that strict planning may be harmful rather than beneficial:

 

You’ll inevitably face problems different from the ones you anticipated. Sometimes you’ll have to "zig" when the blueprint says "zag." You don’t want a detailed, inflexible plan getting in the way when you have to respond instantly.

Do you like to become rich easy & try new things...?

To comprehend the success of many Silicon Valley startup firms, you must first comprehend the concept of "pivoting." This entails being ready to drastically alter your company strategy at any time. The aim isn't to illustrate how excellent an original notion is by sticking to it. The objective is to gain a strong market position. It's time to pivot if it means abandoning the strategy and steering the firm in a whole new and different route.

I think this methods will help to your success career.

Thanks for reading…!