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What Are the Secrets Only the Wealthy Know?

That’s the question posed in an online forum recently.

Answers ran the gamut of the spectrum, but here are 28 we found especially helpful, in completely random order…

What Are the Secrets Only the Wealthy Know?

Become financially educated. Read personal finance management books, starting with Rich Dad Poor Dad. Learn how to budget and how to invest.

Live frugally. If you’re thinking you can’t save more of your money, take a look at homeless people who live on almost nothing. Yes, you can save money. Stop eating out so often. Cancel the cable. Don’t buy a new car. Don’t buy a new used car until you absolutely need one.

Always pay yourself first. Devote the first 10-30% of your pay to savings and investments.

Spend money on assets (real estate, stocks, bonds, etc.) not liabilities (everything that loses value the moment you purchase it). Thinking of buying a new car even though your old one is fine? Take that money and invest it in your business, in stocks, in real estate or something that is an asset. Then buy a good used car in a few years, when you really need one.

Don’t care what people think of you. Your neighbors think you’re poor because you don’t buy new cars? Little do they know that $20,000 you would have spent on a car is now earning you a 10% compound interest rate.

Invest in yourself. Self-education equals new knowledge. Add execution to that new knowledge and you get results. Repeat continuously.

Find ways to help as many people as possible. The more you can help others get what they want, the more money you can make.

Scale. Don’t render services when you can mass produce products. Better to make a $10 profit on a million sales than a $1,000 profit on 100 sales.

Stuck on services? Go upscale. If you’re going to render services, find the niches that pay the most.

Have multiple streams of income. This way if something happens to one, you are still in good shape overall.

Sell stuff. Lots of stuff. Hire others to help you, so that your earnings are no longer tied to your hours.

Always keep the return on investment in mind, whether your investment is time or money.

When you want to buy something, figure out how to make the money. Don’t take money out of your savings to buy a car or a vacation. Instead, figure out how to make the extra money needed to cover the new expense.

Be friends with people who have more money than you. Their mindsets and thought processes will rub off on you. That said, do not try to compete with them – keep the car and house you have now, at least for a while.

Leverage your abilities to their fullest extent instead of working harder to get ahead. Forget working hard and focus on working smart. For example, a personal coach can create a course and sell it for $297 a million times over, but can only coach a few people one-on-one at any given time.

Take calculated risks. Failure is a part of the journey. If you’re too afraid to fail, you will never take the smart, calculated risks needed to become wealthy.

Use your head more than your heart. Make your financial decisions based on provable fact rather than gut instinct.

If you have a business, work ON it, not in it. Your labor isn’t needed to make the business a success – your ideas and leadership are.

Things like sports and entertainment are simply distractions for the masses. While you’re watching sports and shows 2-6 hours a day, the rich are making million dollar contacts, doing deals and starting businesses. If you get more of whatever you focus on – maybe it’s time to stop focusing on distractions and start focusing on your finances.

Bad decisions are better than no decisions. Any decision that moves you forward is better than total inaction. The key is make decisions quickly and work until you get results.

Confidence and belief in your ability will take you further, faster. The higher your confidence and the more you believe in what you’re doing, the easier it is to bring others on board, to convince buyers and to make money.

Having a lot of money doesn’t change life as much as you think. It’s not a magic shield from illness, tragedy or loss. You’re no smarter for having it (although perhaps wiser if you made the money yourself.) You still have problems, although they might be an entirely new set of problems. On the plus side, you never have to worry about putting food on the table or paying bills, which frees you up to think about bigger things.

People will look at you differently when you are rich. The upside is they respect you more. The downside is most people will want something from you.

It’s best to not flaunt your money, but instead put it to work to make more money. Many millionaires drive beat up cars and live in perfectly average homes. Few people know they are rich and they like it that way.

Don’t buy stuff you don’t need. Rent it, borrow it or do without. And don’t carry a balance on credit cards. Ever.

Never borrow money to make discretionary purchases. Only borrow money to make money.

Start with the end in mind. If you’re starting a company, from day 1 ask yourself what to do to make your company as valuable as possible so you can one day sell it for millions.

Lastly, having money is power. Power to help any charity you choose. Power to help anybody or anyone. Power to make positive changes in your community, positively impact the lives of others and make the world a better place.

10 Signs You’re Going to be Super Successful

Do you have what it takes to succeed in your own online business? You do if you have the following qualities…

10 Signs You’re Going to be Super Successful

You’re relentlessly persistent. When you decide to do something, you tenaciously work towards that goal until it is completed, no matter what.

You’re realistically optimistic. You know that believing you’ll grow wings and fly won’t make it true. But you also know there is a method by which you can fly, and you’ll keep believing this until you find a way to do it.

You take failures in stride. Yes, you did all you could, but you failed anyway. But you realize this is just part of the success process. So instead of lamenting the loss, you ask yourself, “What’s great about this?” And you take what you learned and apply it to your next attempt.

Your face is in the dictionary under the word “self-improvement.” While some people think learning ends with graduation, not you. You are continuously reading and learning more and more, and putting what you learn into practice.

You take action. Planning is a necessary part of the process, but you know that nothing happens until you take action.

You keep an open mind. You realize you don’t have all the answers, and you’re willing to listen to others to find the answers you seek.

You maximize your strengths and delegate your weaknesses. Some folks think they need to work on their weaknesses – not you. If you’re not good at something, you’re smart enough to outsource it. Instead, you focus your efforts where they shine, and that’s what makes you and your business successful.

You’re ambitious. Sure, you could settle for a small online business that just covers the bills. But instead you’re looking to create a real business you can sell in 5-7 years for 7 or 8 figures. Shoot for the clouds and you might only hit the rooftops. But shoot for the stars and you’ll at least hit the moon, which is pretty darn good.

You set goals. You can’t get someplace if you don’t know where you’re going, so you set goals to keep yourself moving and on track.

You spend 90% of your time on the present, 10% on the future, and no time on the past. The past is over and done. Childhood was lousy? Didn’t get into the school you wanted? Passed over for that promotion? First business failed? No matter because it’s ancient history. You’re all about what you can accomplish right here, right now, with an occasional eye to the future.

You delight in delaying gratification. Sure, you could watch TV right now, but you know there is a bigger reward to be had down the road if you just keep working instead.

You don’t listen to naysayers. There’s always somebody ready to tell you that you can’t do it, you shouldn’t do it or you’re an idiot for trying. But you just smile, say thanks for the advice and keep on doing what you need to do to be successful.

After all, the best revenge on naysayers is success.

And if you have at least 8 of these 12 qualities, you’re almost certainly going to meet with success on a grand scale, and soon.

12 Keys to Creating Content Readers Share on Social Media

Before they share it, readers have to love your content. So how do you write the next viral blog post?

12 Keys to Creating Content Readers Share on Social Media

1. Offer a simple, practical way of accomplishing a task. According to the New York Times, 94 percent of people share content because they believe it will be helpful to others. That’s why articles such as “10 Ways to Save Money” are popular.

2. Write “how to” posts. These kinds of posts are always popular and tend to stay evergreen for a long time. For example, few can resist, “How to Make the Best Chocolate Chip Cookies Ever.”

3. Give them what they want. Figure out what your readers want to learn and write about that.

4. Use the active voice as much as possible. Instead of writing, “Donna is loved by Richie,” write “Richie loves Donna.” It’s easier, faster and more interesting to read.

5. Use present tense as much as possible. Instead of writing, “Last week when we were going down the mountain…” Write, “Imagine this: We’re going down the mountain when a cougar leaps in front of our motorcycle…” It puts the reader right there in the scene with you and makes it more exciting to read.

6. Entertain the reader. If you can delight the reader, make your content irresistible and even bring humor to it, so much the better.

7. Be credible. If you can back up what you write, your readers will trust your content enough to share it.

8. Cut the fat. It’s not the length of your content that matters, it’s the conciseness. Tighten up your sentences, rewrite anything that confuses, eliminate words like “very” and “just” and basically tighten up your writing. Every word should count.

9. It’s not War and Peace. Use shorter lines instead of longer sentences whenever possible.

10. Engage the reader emotionally. It’s not just about the facts, it’s also about grabbing the reader by the emotions and not letting them go until the end.

11. Tell stories. If you can illustrate your point through a story, do it.

12. Never, ever be boring. Have someone read your content before you post it. Ask them to watch for any place where their mind starts to wander. These are the places you’ll need to work on, so you don’t lose your reader’s attention.

If you find yourself writing in a style your English professor would adore, try again. The best tip of all to getting your content shared is to write as though you’re talking to your best friend, sharing useful stuff they want to know.

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