What if I told you that there were five principles that can determine whether
you become rich or the the rest of your life struggling financially I've spent
the last few years analyzing successful people and in this video I will share
with you five principles the rich used to amass a ridiculous wealth in word on
the street is that if you hit the subscribe button a new puppy will be
born so hit subscribe button below principle number one rich people see
opportunities where others don't let me share with you the story of two salesmen
to illustrate this principle once upon a time a shoe company sent two salesmen to
Africa to determine the market potential for their products one salesman was sent
to the east coast of Africa while the other salesman was sent to the west
coast of Africa both the salesman completed a basic survey of the target
market and called back to the office the salesman sent to the east coast of
Africa reported no one here wears any shoes there's no market for us here the
other salesman sent a message no one here wears any shoes there is a huge
market for us send inventory fast which of these two salespeople do you
think was more likely to mass significant wealth of course the second
salesman principle number two rich people have an abundance mindset rich
people have a completely different mindset when it comes to how to make
money the rich see the possibility to make money as being abundant as they
know that making money comes down to offering value have you ever noticed all
of the world's richest people offer value to a large amount of individuals
take Bill Gates for example he has helped put computers in the homes of
millions of people allowing them to leverage the power of computers to work
more effectively rich people understand that there is no limit to how much you
can make but the poor see things differently broke individuals often fall
victim to the scarcity loop this loop works as follows broke people are always
in fear of not having enough money which causes stress and anxiety distress leads
to poor choices like spending frivolously to cope with these emotions
which really makes a financial situation worse and the cycle then repeats itself
principle number three rich people understand the power of patience the
truth is all good things take time and who knows this better than Warren
Buffett one of his most famous quotes is no matter how great the talent or
efforts some things just take time you can't produce a baby in one month by
getting nine women pregnant Buffett knows that time is one of the primary
determinants of success take the example of the doubling penny if you were given
the choice between three million dollars today or starting with the penny and
letting it double every day for a month which would you choose
of course the poor people who lock the patients would want the three million
dollars right away without considering the other option but what if I told you
that the doubling penny would grow to more than ten million dollars in just a
month's time therefore the rich understand and
respect that achieving significant wealth is no overnight feat principle
number four rich people know that their net work equals their net worth rich
people understand that you are the average of the five people you spend the
most time with which is why the rich tend to associate closely with one
another in fact in a survey of a hundred and seventy seven self-made millionaires
long before they became rich the self-made rich made an intentional
conscious effort to only forge relationships with individuals they
aspire to be on the contrary the average person unconsciously chooses their
friends their boss and their significant other they unknowingly seek out
individuals who they feel comfortable with and then they wind up surrounding
themselves with those similar people but as you guessed this provides no
opportunities for growth meaning that you will continue to live the
financially meager lifestyle you've always had principle number five rich
people use their money to make more money one of the main reasons people
don't achieve impressive levels of wealth is because they don't make their
money work for them unfortunately most people see working their nine-to-five
job as the only way to make money because this is the only income
generating method they were ever taught what's worse is that this restricted
mindset is coupled with the fact that these individuals often spend their
money on useless things rather than investing it but the rich know better
the rich understand that trading time for money is not only inefficient but it
is a one-way ticket to living a mediocre financial life instead when the rich
make money they invest it into different avenues that can make them more money
like mutual funds or rental properties over time these assets are in the more
income whether they are sleeping reading or tanning on a beach in Mexico thanks
for watching if you want to go from the life you have to the life you deserve
then hit the subscribe button now