– Things Rich Men Do That the Poor Dont –
Things Rich Men Do That the Poor Dont: Have you ever wondered what basically separates rich men from the poor? What exactly is it that rich men do, which makes them rich that the poor do not do? Let’s get you started.
There are many things rich men do that the poor don’t, but we would be focused on 15 of the most common of these things.
1. Rich Men Invest Continuously
One of the most noticeable things when you study how rich man’s think is they are investing continuously.
Their profit is turned to capital to invest in business opportunities, which are profitable because they have the mindset that there is money to be made from many business ventures.
2. Rich Men Spend Only Their Profit
Rich men never spend their capital, only their profit. Their capital could even be gotten from the profit they made in previous business ventures or transactions which they are reinvesting.
No matter what happens, they insist on not spending beyond their profit because the capital is what would generate more money by going into business.
3. Rich Men Take Calculated Risks
It is a common saying that the most successful people take the biggest risks. Rich men would invest a lot in new business ideas, but this is done after proper research and analysis. Care must be taken to ensure blind risks are not taken.
They are trailblazers. Mark Zuckerberg, for example, took a huge gamble by starting up Facebook in 2015 even with the dominance of other social media sites like myspace.com were the giants owned by big firms.
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4. Rich Men Learn from their Mistakes and Improve on them
In the course of our personal and business lives, we make mistakes. What sets rich men apart from the poor is what they do when these mistakes happen.
While the poor might dwell heavily on these problems, gloating and complaining about them with excuses to justify their mistakes, rich men admit first to themselves that they are wrong and work on correcting the mistakes.
While correcting these mistakes, they learn how not to make these mistakes.
Thomas Edison, who’s famous for many inventions, is also credited for inventing the light bulb. As the story goes, he tried making light bulbs 99 times and failed.
Every time he failed, he noted his mistakes and improved on them in subsequent experiments. After 99 times of making mistakes, failing and improving on these mistaken, at the 100th time he got it right and today we are enjoy the light bulb.
5. Rich Men Think Long Term
Rich men think long term about the future and how to sustain themselves, their wealth and their businesses. Before they decide, they think of how it would play out in the future instead of their immediate needs.
The poor are more concerned with satisfying immediate needs.
6. Rich Men get the Best Quality at the Best Bargain
Rich men try to always bargain for the best quality at a good buy. They always ensure what they are buying or investing is worth their money’s value.
7. Rich Men Never Engage in Ventures that are not Profitable
If an investment is not profitable and sustainable, rich men would never engage in it. Ponzi schemes, for example, are not sustainable and not profitable in the long term so many rich men do not invest in it but the poor do.
If a project has no profitable value, rich men don’t engage in it.
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8. Rich Men are More Concerned with the End Result the Process Involved
While the poor are focused on the problems and what might go wrong, rich men would rather think of what the end result should be and if it is the result they seek, they would forge ahead with their plans and brace the odds just to achieve the end results.
9. Rich Men Seek Information from Everywhere and Try to Learn from Everyone and Every Situation
If you look and listen well enough, you can get information from anywhere which you can apply to help you. This is the mindset of rich men.
They don’t quickly dismiss information or advice but only after examining it critically to see what knowledge there is to get before then.
10. Rich Men do not Spend on Frivolities
Rich men spend on only what is necessary and can be justified.
11. Rich Men Always Find a Way Around Obstacles
Rich men would always overcome obstacles and solve problems instead of dwelling on them.
12. Rich Men are Constantly Seeking new Ways to Enlarge their Business
Rich men are constantly looking for ways to expand their businesses and make more money. They never rest on their oars and always forge forward.
There is always a new business venture to start, a new business idea to fund and so much more when it comes to rich men.
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13. Rich Men Only Focus on Positive-minded, Innovative and Successful people
The showing show me your friend and I would tell you who you are rings true with rich men.
They associate with successful people who they can learn from and being in such a company promotes healthy discussions and brainstorming, which would lead to new ideas that are profitable.
14. Rich Men are Always Innovative
15. Rich Men Make Money Work for Them
What actually separates the rich from the poor in reality is how they think and their approach to issues.
People who make it a point of duty to emulate these rich men always start becoming like them once you put your heart to practicing what you have learned.
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StudentsandScholarship Team.
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