Becoming rich isn’t an easy task. To become rich, you have to sacrifice many things. You have to learn continuously.
When you see a Billionaire, What is the first thing that comes to your mind? Let me guess, They live a better life, get everything they want, wish I had that life, etc. But If you’re going to become RICH, you need specific skills to pay the bills.
Rich people set themselves apart by the skills they possess. These skills are so well crafted that not everyone realizes them. These skills made them rich in the first place.
Now you might say, “a lack of money is a bit of a problem.” Well, a lack of money is never the problem. The real issue is a lack of skill.
As reported by the BBC, One study has found that The wealthiest 1% will soon own more than the rest of the world’s population.
Today I’m going to tell you the Top 10 MUST HAVE Skills To Become RICH. As you read this list, for every skill, I want you to ask yourself where you are on a scale of 0 to 5, so at the end of the list, you should be able to tell which skills you need to develop over time.
Now let’s hop on to our list.
TOP 10 SKILLS TO BECOME RICH:
10. Time Management
Time management is the process of organizing and planning how to divide your time between specific activities. The Time management is a beneficial skill to have. Good time management enables an individual to complete more in a shorter period of time, lower stress level and leads to career success.
Also, let me tell you the consequences of poor time management. Poor time management will always waste your time. For example, by scrolling through social media while doing an assignment, you’re distracting yourself from the task and wasting your valuable time.
Sometimes by not knowing what to do next, you suffer from loss of control of your life. Don’t forget the most crucial aspect; Poor time management typically makes the quality of your work suffer.
Since managing your time is more about working on your energy, you must seek ways to conserve your body and mind to focus on the project that deserves your most attention.
9. Build Self-Discipline
It doesn’t matter what you’re trying to achieve; If you cannot discipline your actions, you’re probably not going to get it. You might ask, “What is discipline?” Discipline is an essential idea in organizing human activities. In easy words, it’s your ability to dig deep within yourself.
If you want to get in shape, it means mastering your daily diet and hitting the gym every day; it doesn’t matter what is going out there. Discipline means you’ll take care of the essential tasks relating to your long-term goal before anything else. This might sound easy, but it’s the number one reason why people fail. They are unable to discipline themselves. How do you develop discipline?
- Ask Yourself What You Want.
- Remind Yourself Why You Started.
- Wake Up and Start Doing, You’ll Feel Motivated Already.
- Put Your Goal Somewhere Where You Can See Them Everyday.
- Eliminate Distractions.
- Practice Prioritizing Tasks.
- Start Small.
- Write Down Your Progress.
- Get Rid of Negative People.
- Get Friends To Hold You Accountable.
The best book I’ve read on this subject is No Excuses!: The Power of Self-Discipline By Brian Tracy.
8. Money Management
Money management is the process of saving, budgeting, and investing money in the right way. The Money management skill is a vital skill to achieve. Because poor money management skills can lead to cycles of debt and financial strain, money management is a strategic technique to make money yield the highest interest output value for any amount spent.
It’s impossible to become wealthy without money management skills. Business and investing is a game, and money is how we keep the score of the game. To become successful financially, you have to know how money works. And also, you must have to understand how to control income and expenses.
Another element you must effectively control over is your debt to equity ratio. To achieve big financial goals, you have to know how to take on debt and use debt to your advantage competently. The critical word in the world of money is cash flow. And the second most important word is leverage.
7. Stay Focused
Everything around you has been engineered to distract you. We live in age where attentiong is the new currency. We see a trend among people where it’s increasingly hard to maintaining focus. Because every day more and more disctraction is coming in our way.
To stay focused means to persist with the task at hand simply. To continue to work towards whatever it is, you need to do and ensure that you remain concentrated on that one activity. If you maintain something, you continue to have it.
There are several ways to stay focus on one thing. The best way to stay focused is to get rid of your distractions. You can stop using your phone or store it somewhere else when you’re doing an important task. But remember, don’t push yourself too hard.
This is when you can use The Pomodoro Technique. This timing method helps you train your brain to stay on task for short periods. It’s an easy and most effective way to stay focused. All you have to do is, set a timer for 25 minutes and get to work. After the buzzer’s sound, take a 5-minutes short break. Then repeat this method for 4-5 rounds. Once you’ve done four to five rounds of this, you can take a more extended break, approximately 20 to 30 minutes.
Get enough sleep is another way to stay focus. You can’t remain focus with sleepy eyes, are you? Get around 7-8 hours of sleep every night. And between long tasks, you can take a short 20-minutes nap to refresh your brain.
6. Read and Read More
Successful people read a lot of books. Bill Gates, Elon Musk, Mark Zuckerberg, and other billionaires read far more books than the average person. According to Pew Research, the typical American reads about four books a year. Bill Gates told TIME magazine that reading books for over an hour a day was a critical ingredient of his success.
Although reading is better than watching a video or listening to audiobooks because the brain processes text differently from video or audio when you watch a video, the visualization of the information happens on the screen. But when you read, the data is processed within and makes correlations to your internal memories and reality. Imagine you can absorb the knowledge someone gathered in a lifetime in a single week just by reading a book. Reading evolves your primary asset, which is yourself. I say, “The More You Read, The More You Learn, And The More You Learn, The More You Earn.”
5. Focus on the Long-Term
Long-term goals are always better than shortcuts. For example, your long-term goals might be to complete all of your GED exams. This could take several years of going to school and studying. Going to class next month might be a short-term goal. Or passing an important test can be another short-term goal.
You need to stop looking for shortcuts for get-rich-quick methods. It takes years and years of hard work to become rich. No one becomes rich overnight. You’re not going to like what I’m going to say. But it’s the truth that it’ll take between seven to ten years to change your life. Being successful requires you to think ahead and take actions now, which will impact the long-term. The quicker you realize that there are no shortcuts, the quicker you can take the right path to become successful. I agree ten years is a lot of time. But if you don’t make a plan now, then you’ll end up making the same mistakes after ten years.
If you think it’s hard, just think about the end result.
4. Sales Skill
The ability to sell is the number one skill in business. If you can’t sell, then stop thinking about doing business. One of the most crucial jobs of an entrepreneur is selling; But unfortunately, selling is a task people hate. The reason people hate selling is that they are afraid of getting rejected. If you want to become an entrepreneur, you have to focus on selling.
Have you ever realized that whatever you do in life is a form of selling from the moment you are born? Life is about interacting with others, and selling is just convincing someone of the merits of an exchange. To get rich, you’ll have to convince the other person that whatever you are selling is worth exchanging for money.
3. Willingness To Make Sacrifice
It’s no wonder that in life, great things require great sacrifice in exchange. This is where you realize that the lifestyle you want doesn’t come for free. There’s a saying that I love,” The dream is free, The hustle is sold separately!”. It’s not going to be easy, but it’s going to be worth it. In life, nothing can be achieved without sacrifice.
2. Inspire Those Around You
People are drawn to those who inspire others. Inspirational people have a way of attracting people from all walks of life. Inspiration people make others feel good about themselves and, more importantly, help them realize their potential.
Have you watched “The Wolf of Wallstreet”? If yes, then you will realize what I’m trying to say. Inspirational people can help boost other’s confidence and help them to uncover their true purpose in life. People follow solid leaders, and if you want to do great things you need to become one. Your ability to inspire and motivate others can dramatically increase your chances of success.
The best thing to do in order to become an inspiration is to be genuine.
1. Ability To Bring Quality People Around Them
We’ve heard this many times that “Your network is your net worth.” If you have got the right type of friends, the right kind of mentors, these people will protect you, will help you grow faster, and will leverage their knowledge and resources to your aid if it’s required. Just remember that you’re the average of the five people you spend most of the time with. If five poor people surround you, you’ll be the sixth. If five billionaire surrounds you, then there is a chance that you’ll be the sixth.
You should find a good mentor because mentors are incredible people who accelerate your growth and help you navigate your world more easily. Because they’ve walked the same road that you are about to walk.
Conclusion.
In this list, we didn’t cover everything that is required to be a billionaire. But you will get the idea that how and what does it take to become wealthy in life. I think it’s not hard to become RICH. All you have to do is face your fear. But most of the people afraid of their fear. Life will always push you around, and you can’t do anything about it. But this is how life teaches us the most valuable things in life.
Becoming rich is easier than ever before. There are over 46 million millionaires in the world today. This list will help you become rich. But remember one thing in life that, “The Journey of Wealth is More Important than The Destination.”