We all know that to make more money, we have to work hard. But what if there were some small habits that high-income earners had that we could adopt to start making more money?
Habits aren’t like goals you accomplish and then move on. They are part of you. The following habits will help you achieve your income goals as well as make you a stronger person.
Here are 39 small habits of high-income earners that you can adopt today:
Table of Contents
#1. They get up early.
High-income earners know that the early bird gets the worm. They use the early hours of the day to get a jump start on their work so they can have more time for leisure later on.
Richard Branson is an entrepreneur who knows the importance of getting up early. He is known for his habit of waking up at 5:00 am every day to get a head start on his work. This habit has helped him become a successful businessman and founder of several companies.
There are many benefits to getting up early, including:
-You can eat the frog first thing in the morning – whether it’s working on your side business, searching for a better job, or preparing that client meeting
-You can start your day with a positive attitude – consider the early morning a win. Use that win to secure another small win, e.g., 10 push-ups, or a run
-You are less lately to be late for work and more ready for any challenges work throw at you because you woke up early and took the time to figure it out
-You will want to retire to bed early – less time on unproductive activities such as watching Netflix or Social Media. Plus you will be more at ease to spend time with your family after dinner knowing you have done the work already.
Here are some personal experiences of what worked for me
- Start small – if waking up at 5 am is too hard, try 6 am, or 6:30 am.
- Aim for consistency – try waking up around the same time for at least one week.
- Minimize thinking time in the bed – your mind is great at making excuses; so the longer you stay in the bed or snooze, the more likely you will do it again.
- Get your ass out of the bed – put the alarm or phone where its effort
- Create auto-pilot procedures – once you turn off the alarm, try hit 50-100 push-ups in a go. No need to do perfect form. Just wake yourself up.
- Take a cold shower with affirmations – I do this if I don’t run in the morning.
- Keep yourself busy – have a go-to routine or tasks ready when you wake up. Again, minimize thinking time.
In my experience, it helps to reset your expectations from learning the fact that so many high-earners start their day up early. This is one of the hard habits that you should build.
Oh, and, don’t forget to pat your back – it’s a victory, however small, that will lead you to another victory.
#2. They make their bed.
High-income earners know the importance of starting the day with a clean slate. Making their bed is a way of tidying up their space and getting rid of any distractions that might prevent them from being productive.
Admiral William H. McRaven is a retired United States Navy SEAL who knows the importance of starting the day with a made bed. In his book, Make Your Bed: Little Things That Can Change Your Life…And Maybe Even The World, he writes about how making his bed was a habit that helped him succeed in life.
There are many benefits of getting the little things right:
-It’s a form to practice self-discipline, which is what will set you apart
-It builds momentum and makes you feel more ready to do other things
-It makes your room look less cluttered, and your mind, too.
This is a great video to watch. Many gold nuggets here. The one thing I take away is this: “One evolution at a time.”
#3. They eat healthy and exercise regularly.
Exercise isn’t just good for your health, it’s also good for your productivity and focus. High-income earners know that to make more money, they have to be in top physical and mental shape.
At 5 a.m., billionaire Jack Dorsey starts his day with 30 minutes of meditation and exercise before he starts work as the CEO for Twitter and Square.
What you put into your body affects how you feel and perform throughout the day. High-income earners fuel their bodies with healthy foods so they can always be operating at their best.
Famous example:
Mark Zuckerberg eats the same thing for breakfast every day. For years it was oatmeal with blueberries, and now it’s eggs.
Simple tips to eat more healthy every day:
– Eat breakfast. Skipping breakfast can make you feel tired and unfocused throughout the day.
– Avoid processed foods. Processed foods are unhealthy and full of chemicals and additives.
– Eat more vegetables. Vegetables are low in calories and high in nutrients.
– Drink plenty of water. Dehydration can lead to fatigue, headaches, and other health problems.
Below is an interesting video about the why and how to exercise every day.
The most important thing to remember is this:
“Self-efficacy (the belief that you can do it) = Internal Motivation”
Again, the main theme is to start small and build upon it.
#4. They dress the part.
You don’t have to spend a lot of money on clothes to look good. But it’s important to dress in a way that makes you feel confident and capable. High-income earners know that they need to look their best to perform their best.
Famous example:
Stephen Schwarzman, founder of one of the largest Private Equity firms Blackstone wrote this in his book “What It Takes”.
“When presenting yourself, remember that impressions matter. The whole picture has to be right. Others will be watching for all sorts of clues and cues that tell who you are. Be on time. Be authentic. Be prepared.”
Dressing the part doesn’t just mean wearing nice clothes. It also means paying attention to your grooming and hygiene. High-income earners know that they need to take care of their appearance if they want to be taken seriously.
Simple tips to improve your appearance:
– Wear clothes that fit well and are in good repair.
– Choose colors that compliment your skin tone.
– Wear appropriate shoes for the occasion.
– Keep your hair clean and well-styled.
– Be well-groomed (i.e. shave, trim your nails, etc).
There are many ways to dress well. Jordan Peterson makes a good point on this that’s worth listening to:
“Dress up like the person you want to” (Subtext: and learn from what they do.)
#5. They work on their belief system and attitude.
High-income earners know that their thoughts and emotions affect their reality. They work on their belief system and attitude so they can remain positive and focused on their goals.
Famous example:
Tony Robbins is a world-renowned motivational speaker, author, and life coach. He’s helped millions of people transform their lives by changing the way they think and feel.
In his book, Awaken the Giant Within, Robbins writes about how our emotions affect our ability to achieve our goals. He says that we need to “get rid of the emotional baggage that’s been weighing you down for years” in order to be successful.
iBETAAR: Identity – Belief – Emotions – Thoughts – Attitude – Actions – Results.
There are many variations of how to program your brain. I use this one because it’s easy to remember. Also, iBETAAR sounds like i-beta, which denotes a trial version as well as a reminder of becoming an average “beta”person vs. alpha.
Belief is hard to detect it’s the unwritten code in your brain. But, you will react with certain feelings whether you know it or not.
That’s why to me, it’s actually before-thought. It’s about what you do or do not pay attention to.
Did you feel slighted by the security this morning? How did you feel about the difficult assignment you get this morning?
When you have a feeling, it’s a product by your mix of beliefs – negative and positive. Once you are aware of it, then you can start interfering.
Instead of thinking your boss is unfair, you tell yourself it’s a chance to prove yourself. And, to prove you are big enough, you need a challenge that’s big enough.
Small problems prove nothing if my 3-year-old can do it.
Now you start to like big problems?
Good.
Your thoughts just changed your attitude. This should lead to more productive actions, which should lead to more positive outcomes.
I say should. Believe nothing is guaranteed. So, just focus on the controllable – you. We will talk about this point later.
Simple tips to improve your belief system and attitude:
– Practice gratitude. Write down three things you’re grateful for every day.
– Meditate – think about the people you admire – and who you want to become.
– Surround yourself with positive people. Spend time with people who make you feel good.
– Avoid negative self-talk. Catch yourself when you’re thinking negative thoughts and change them to something positive.
– Visualize your success. See yourself achieving your goals and living the life you want.
Below is a video on how to change beliefs if you want to go deeper.
#6. They are lifelong learners.
High-income earners know that they can always improve and learn new things. They are constantly reading, taking courses, and learning from their experiences.
Famous example:
Bill Gates is one of the richest men in the world. He is a voracious reader and has said that he reads 50 books a year.
Tips to practice lifelong learning:
1. Make a commitment to learning something new every day.
2. Join a learning community or online course to expand your knowledge.
3. Read books on topics that interest you.
4. Take classes and workshops on topics that interest you.
5. Experiment with different learning methods until you find one that works best for you.
6. Practice what you’ve learned so you can apply it in your life.
7. Share what you’ve learned with others to help them grow as well.
Lifelong learning is a habit of high-income earners because they know that it is essential to success. By making a commitment to learn something new every day, they are able to keep their skills and knowledge up-to-date, which gives them a competitive edge. Additionally, lifelong learners are able to continue growing and expanding their horizons, which leads to greater success both personally and professionally.
#7. They are great communicators.
High-income earners know that communication is key to success. They are able to clearly express their ideas and thoughts, and they listen attentively to others.
Famous example:
Sheryl Sandberg is the COO of Facebook and author of the book Lean In. She is known for her clear and concise communication style. Mark Zuckerberg openly praised Sheryl for her superpower of high IQ and EQ.
Rule 10 of Jordan Peterson’s book on 12 Rules of Life is this: Be Precise in Your Speech.
Here are 5 ways to improve your communication skills to save you time from watching the video.
- HAIL: Honesty – Authenticity – Intention – Love (Julian Treasure)
- Tell your story (Les Brown)
- Use the leadership language (Robin Sharma)
- Use conversational language (Matt Abrahams)
- Match and Mirro (Tony Robbins)
#8. They are go-getters.
High-income earners don’t wait for things to happen, they make them happen. They are proactive and take initiative to achieve their goals.
Stephen Schwarzman the founder of the world’s largest private equity firm: Black Stone, recalls his reaction to his first job offer in “What It Takes”.
The context is that $10,000 was the highest-paid offer ever given to a Yale student that year. Presumably, this offer would overjoy and overwhelm a lot of people that they will just accept it, let alone hear this directly from the D from DLJ (Donaldson Lufkin Jenrette), a prestigious Wall Street firm.
But, not Schwarzman.
“That is absolutely terrific. But, I need $10,500.” Stephen Schwarzman responded after hearing the good news from Bill Donaldson’s $10k offer.
“I’m sorry. What do you mean?” Said Bill from the other end of the phone.
“I need $10,500 because I heard there’s another person graduating from Yale who’s making $10,000, and I want to be the highest-paid person in my class.”
“I don’t care,” said Bill. “I shouldn’t be paying you anything at all. It’s $10,000.”
“Then I won’t take the job.”
“You won’t take the job?”
“No. I need $10,500. It’s not a big deal to you, but it’s a really big deal to me.”
“You have got to be kidding.”
“No, I’m not.”
Two days later, Donaldson called back with the $10,500 offer.
#9. They are risk-takers.
High-income earners know that to achieve great things, they have to take risks. They are not afraid to fail, and they always get back up after setbacks.
Famous example:
Elon Musk is the founder of Tesla, SpaceX, and several other companies. He is known for his willingness to take risks and his ability to bounce back from failures.
After Elon made his first million from selling Zip.com, he put all the money back into his next venture X.com, which later merged with PayPal.
Most Silicon Valley founders would probably use the money to enjoy life a bit. After that, they might go into venture capital instead of exposing themselves to creating another startup.
But, not Elon.
He didn’t stop taking risks. In fact, he took even more risks.
Want to know what makes someone a risk taker?
#10. They have a growth mindset.
High-income earners believe that they can always improve and grow. They are open to new experiences and willing to learn from their mistakes.
Steve Jobs is one of the most successful entrepreneurs of all time. He was known for his belief in continual growth and learning. In an interview, he said “I’m convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance.”
In short, a “growth mindset” is a lot like a magic sunglasses through which you look at things differently.
- Not getting the promotion? Use that as an opportunity to improve your skills and learn more about what it takes to be successful in your field.
- Experienced a major setback in one of your business ventures? Rather than giving up, use that experience as a learning opportunity to grow and become even better at what you do.
- Your girlfriend cheated on you? Rather than wallowing in self-pity, use that experience as motivation to become a stronger and more resilient person.
Whatever challenges, setbacks, or failures you may face in life, remember that they are just opportunities for growth and personal development. With the right mindset and determination, you can turn any challenge into an opportunity to succeed.
#11. They have huge ambitions and high standards but are practical and realistic.
Contrary to what the media wants you to believe, high-income earners don’t just leap from the clouds and construct their parachutes on the way down.
The quick lesson is Warren Buffet’s quote: “I don’t look to jump over 7-foot bars: I look around for 1-foot bars that I can step over.”
The long lesson is from Jeff Bezo’s 2018 Amazon Shareholder Letter. He discussed the notion of High Standards.
You can read the original here.
Bezo posted 3 questions on High Standards:
- Intrinsic or Teachable – Bezo believes that you can’t teach height but you can teach high standards. And, “high standards are contagious”.
- Universal vs. Domain – Bezo believes that high standards are domain-specific, e.g., customer services and operational efficiency are two different domains
- Recognition vs. Scope – one should know what good looks like and understand how hard it is to achieve that to achieve high standards
Raise your standard – and do what is required.
#12. They always look for opportunities.
High-income earners are always on the lookout for new opportunities. They know that to achieve their goals, they have to seize any opportunity that comes their way.
The best way to start looking for opportunities is to be open to new experiences and be willing to learn from your mistakes. You should also have high standards and big ambitions. Finally, always look for new opportunities and be on the lookout for any opportunity that comes your way.
In “How to Fail at Almost Everything and Still Win Big”, cartoonist Scott Adams offers some of the finest professional guidance he’s ever gotten.
Adams writes:
I asked what he did for a living and he told me he was CEO of a company that made screws. Then he offered me some career advice.
He said that every time he got a new job, he immediately started looking for a better one. For him, job seeking was not something one did when necessary. It was an ongoing process.
This makes perfect sense if you do the math.
Chances are the best job for you won’t become available precisely the time you declare yourself ready.
Your best bet, he explained, was to always be looking for the better deal. The better deal has its own schedule.
I believe the way he explained it is that your job is not your job.
“Your job is to find a better job.”
#13. They take massive action.
High-income earners don’t just sit around and wait for things to happen. They take massive action and make things happen.
Famous example:
When J.K. Rowling was struggling to make ends meet, she didn’t just sit around and hope that things would get better.
She took massive action and wrote the Harry Potter series.
As a result, she is now one of the richest women in the world.
Some examples of massive action include starting a business, writing a book, creating a new product, or making a drastic change in one’s life.
High-income earners know that to achieve their goals, they have to take massive action and make things happen.
Combine this with habit #1. Wake up early.
#14. They believe in themselves.
High-income earners believe in themselves and their ability to achieve their goals. They stay positive even when things are tough.
Walt Disney was one of the most successful entrepreneurs of all time. He is known for his positive mental attitude and his never-give-up attitude.
The Law of Attraction is the belief that like attracts like. High-income earners believe in this law and they use it to their advantage.
They know that if they focus on positive thoughts and emotions, they will attract positive things into their lives.
Here are some tips to practice this habit:
1. Believe in yourself and your ability to achieve your goals.
2. Stay positive even when things are tough.
3. Focus on positive thoughts and emotions.
4. Visualize what you want to achieve.
5. Take massive action towards your goals.
6. Be grateful for what you have.
7. Expect good things to happen.
8. Practice affirmations and positive self-talk.
9. Surround yourself with positive people.
10. Live your life with purpose and passion.
#15. They focus on their strengths.
High-income earners know their strengths and weaknesses. They focus on their strengths and delegate or outsource their weaknesses.
Bill Gates is one of the most successful entrepreneurs of all time. He is known for his focus on his strengths.
He once said, “I choose a lazy person to do a hard job. Because a lazy person will find an easy way to do it.”
#16. They are passionate about what they do.
High-income earners don’t just do any job for the sake of it. They are passionate about what they do and they love their work.
Famous example:
Steve Jobs is one of the most successful entrepreneurs of all time. He is known for his passion for technology and his love for his work.
Steve Jobs said “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.”
#17. They are always learning and reading.
High-income earners know that to be successful, they have to continuously learn and improve themselves. They are always learning new things and expanding their knowledge.
Famous example:
Many people know Todd Combs as an investment lieutenant at Berkshire Hathaway. But, many people didn’t know he’s one of the few who act on the same advice that his current boss Warren Buffett gave to 165 Columbia MBA students.
Here is what Buffett said to a question about how to prepare for an investing career. “Read 500 pages like this every day,” while reaching toward a stack of manuals and papers. “That’s how knowledge works. It builds up, like compound interest. All of you can do it, but I guarantee not many of you will do it.”
#18. They take responsibility for their actions.
High-income earners know that they are responsible for their own success or failure. They don’t make excuses or blame others for their mistakes.
Famous example:
Michael Jordan is one of the most successful basketball players of all time. He is known for his competitive drive and his will to win.
In an interview, he once said “I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times, I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life. And that is why I succeed.”
Tony Robbins is a popular life coach. He is known for his no-nonsense approach to life.
He says that “It is not someone else’s responsibility to make you happy, it is your responsibility.”
He is right. You are responsible for your own happiness. No one else can make you happy.
You have to take action and make things happen.
Stop blaming others for your problems, and take responsibility for your life.
I would also add that “Don’t use your family as an excuse for doing or not doing something.”
Own it, man.
#19. They see setbacks as experiments, not failures.
High-income earners know that setbacks are just a part of life. They see them as opportunities to learn and grow.
Famous example:
Thomas Edison is one of the most successful inventors of all time. He is known for his persistence and determination.
In an interview, he once said “I have not failed. I’ve just found 10,000 ways that won’t work.”
#20. They focus on what they can control.
High-income earners know that they can’t control everything in their lives. They focus on the things they can control and let go of the things they can’t.
Famous example:
In the book “7 Habits of Highly Effectively People”, the author Stephen Covey talks about the difference between what he calls the “Circle of Concern” and the “Circle of Influence”.
He says that high-income earners focus their attention on the things in their “Circle of Influence”, which are the things they can control, like their attitudes, behaviors, and actions.
#21. They surround themselves with positive people.
High-income earners know that the people they surround themselves with have a big impact on their lives. They make sure to surround themselves with positive, successful people.
Famous example:
Tony Robbins is one of the most famous motivational speakers in the world. He is known for his high energy and his ability to inspire others.
In an interview, he once said “You are the average of the five people you spend the most time with.”
Here are some challenges you may face:
- You may not understand the power of association yet. This will simply require you to do your own observations. If you hang around with people who believe working hard is BS, you will eventually think like that.
- You may understand the power of association, but you don’t know where to find these people. With the advent of the internet – forums, FB groups, discord, Telegram – you actually have more access to “these” people than you realize.
- You may understand the power of association, but your current friends just aren’t like that, even though they are good people. In this case, you don’t have to abandon your friends, but you should keep looking for “these” people that you want to become.
- You don’t know “who” these people should be. It’s a process of discovery. You will have to go through many rounds of iterations. And, expect false positivies. Just keep looking. You will find that group of people that you admire.
#22. They make money while they sleep.
High-income earners are people who have jobs by definition. But, this doesn’t mean they are salary slaves for life. While high-income earners can work for themselves, it’s not necessary.
Famous example:
Warren Buffett has a famous saying “If you don’t find a way to make money while you sleep, you will work until you die.”
He also says that “The key to making money is finding a way to do it without working.”
What this means is that high-income earners have passive income streams. This could be rental properties, investments, businesses, or anything else that generates income without them having to work for it.
#23. They learn to manage their money wisely.
High-income earners know that they need to be smart with their money. They learn to live below their means, invest in themselves, and save for the future.
Famous example:
Dave Ramsey is a popular personal finance expert. He is known for his simple approach to money management.
He recommends that people follow what he calls the “7 Baby Steps”.
- Step 1. Save $1,000 for a rainy day fund.
- Step 2. Pay off all debt (except for the house).
- Step 3. Save 3-6 months of expenses for “Emergency Fund”
- Step 4. Invest 15% of your income into retirement
- Step 5. Save for your children’s education fund
- Step 6. Pay off your home early
- Step 7. Build Wealth and give.
I would tweak step 4 for investing in passive income or multiple income streams.
There are many schools of thought and everyone has their own priority. So, think for yourself.
#24. They don’t compare themselves with others.
High-income earners know that comparing themselves with others is a recipe for disaster. They focus on their own journey and don’t compare themselves with others.
Famous example:
Oprah Winfrey is one of the most successful women in the world. In an interview, she once said “comparison is the thief of joy.”
She is absolutely right. Comparison will only make you feel bad about yourself.
It’s a useless exercise and it doesn’t help you in any way.
Focus on your own journey, and don’t compare yourself with others.
#25. They don’t just manage time; they manage priorities.
Time is one of the most precious commodities we have. High-income earners use their time wisely by prioritizing their tasks and cutting out time-wasting activities.
But, high-income earners also know that time management is not enough. They also need to manage their priorities.
Famous example:
Stephen Covey is the author of the best-selling book “The 7 Habits of Highly Effective People”.
In his book, he talks about the importance of managing your priorities.
He says that “The key is not to prioritize what’s on your schedule, but to schedule your priorities.”
This is a great way to think about time management.
Most people just try to manage their time, but they don’t necessarily prioritize their tasks.
High-income earners know that they need to schedule their priorities and not the other way around.
#26. They don’t give a damn easily.
High-income earners don’t give a damn about what other people think of them. They are confident in their own skin and they know that not everyone is going to like them.
Famous example:
Richard Branson is the founder of the Virgin Group. He is known for his maverick approach to business.
In an interview, he once said “You don’t have to be liked by everybody to be successful.”
He is right. You don’t have to be liked by everybody to be successful. In fact, it’s impossible to please everyone.
So, don’t try to please everyone and don’t give a damn about what other people think of you.
#27. They don’t take “no” for an answer until it’s the 12th time.
High-income earners are persistent and they don’t take “no” for an answer. When they want something, they go after it and they don’t give up easily.
Famous example:
J.K. Rowling is the author of the Harry Potter series.
Before she was a successful author, she was struggling to make ends meet. She was even on welfare.
In fact, J.K. Rowling’s first attempt to sell Harry Potter was denied twelve times.
But, she didn’t give up on her dream of becoming a writer.
She kept submitting her manuscript to publishers and she finally got a “yes” from one of them.
If she had given up after the first few “no’s”, she would have never become a successful author.
So, don’t give up on your dreams and don’t take “no” for an answer.
I say don’t give up until it’s the 12th time for something you truly believe in.
Use 12 times as a way to shift your perspective by using paradoxical thinking that you actually want to be rejected 12 times.
That way failure is not something you want to avoid but actively pursue.
It’s a powerful mental trick.
#28. They are laser-focused on their goals
High-income earners eliminate distractions by removing anything that’s not aligned with their vision.
Famous example:
Tony Robbins is a famous life coach. He has helped millions of people achieve their dreams.
He says that “The key to living an extraordinary life is to find out what’s important to you and then eliminate everything else.”
This is great advice. If you want to live an extraordinary life, you need to find out what’s important to you and then eliminate everything else.
For example, if your goal is to become a successful writer, you need to eliminate distractions like watching TV or surfing the internet.
You need to focus on your writing and on nothing else.
If you want to achieve your dreams, you need to eliminate distractions and focus on what’s important to you.
#29. They master themselves – starting with habits.
Warren Buffet said, “Chains of habit are too light to be felt until they are too heavy to be broken.”
James Altucher, a successful author, entrepreneur, and investor, He also says that “Habits are the compound interest of self-improvement.”
What he means is that habits compound over time and they have a massive impact on your life.
If you have good habits, they will compound and make your life better.
If you have bad habits, they will compound and make your life worse.
Forming good habits is one of the most important things you can do for your success. If you want to be successful, you need to develop good habits and eliminate bad ones.
Here are some tips on habit formation:
1. Start small. Don’t try to change your entire life overnight. start with one small habit that you can easily do every day. For example, if you want to develop the habit of exercise, start by walking for 10 minutes a day.
2. Make it easy. Don’t make your habit so difficult that you can’t stick to it. If you make it too hard, you’ll just give up.
3. Set a goal. When you have a goal, it’s easier to stick to your habit. For example, if your goal is to exercise for 30 minutes a day, it will be easier to stay motivated and stick to your habit.
4. Find a trigger. A trigger is something that reminds you to do your habit. For example, you can put your running shoes by your bed so that you see them when you wake up in the morning.
5. Get an accountability partner. Having someone to hold you accountable can be a great motivator. Find someone who has a similar goal and check in with each other regularly to stay on track.
6. Reward yourself. When you reach your goals, reward yourself with something that you enjoy. This will help to motivate you and keep you on track.
Developing good habits is essential for success. Use these tips to create habits that will help you achieve your goals.
#30. They learn to improve their decision-making skills.
Annie Duke, the author of “Thinking in Bets”, said human beings have a hard time differentiating between luck and skills. She argues that instead of using success, an output metric, we should pay attention to the inputs that lead to success. And, work on the inputs that we have control over.
She also believes that the ability to make good decisions is a skill that can be learned and improved.
Some people are born with the natural ability to make good decisions. But, most people are not.
The good news is that you can learn to make better decisions.
Here are some tips:
– Pay attention to your own decision-making process.
– Be aware of your biases.
– Be humble about your ability to predict the future.
– Gather as much information as possible.
– Make decisions based on evidence, not on gut feelings.
– Be willing to change your mind.
– Practice making small decisions first.
Take a page from Ray Dalio, founder of the world’s largest hedge fund by becoming a truth seeker.
Learn to ask “How do I know what is right” rather than “This is why I’m right.” The former leads you to become open-minded and seek new info. The latter makes you focus on the wrong question: “Who is right.”
#31. They practice discipline.
High-income earners have discipline. They do what’s necessary not what’s easy.
It’s easy to eat junk food. It’s easy to watch TV all day. It’s easy to procrastinate.
But it’s not necessarily what’s best for you.
If you want to be successful, you need to have the discipline to do what’s necessary, not what’s easy.
You need to have the discipline to eat healthy food, even when you don’t feel like it.
You need to have the discipline to exercise, even when you don’t feel like it.
You need to have the discipline to work on your goals, even when you don’t feel like it.
Discipline is not easy. But it’s necessary if you want to be successful.
Here are some ways to build discipline:
- Do 100 push-ups every day (build on it if this is too easy)
- Run 5 miles every day (build on it if this is too easy)
- Take a cold shower every day
- Get up early and work on the most difficult thing every day
- Get into the habit of doing what sucks – from David Goggins, a former Navy SEAL team member
#32. They practice kindness and compassion.
High-income earners practice kindness and compassion.
They know that it’s not all about them. They know that they need to help others if they want to be successful.
Mark Cuban said “Be nice. It works.”
And he’s right.
It’s not only the right thing to do, but it’s also good for business.
People want to work with people who are kind and compassionate.
And when you’re kind and compassionate, people will be more likely to help you when you need it.
So, if you want to be successful, start by being kind and compassionate.
Research shows it has many benefits when you help others you are actually helping yourself. But, don’t expect a big bang change. Just make it a goal to do one kindness.
Kindness also has a ripple effect on observers.
I remember seeing a guy stopping his run just to help strangers take pictures. For some reason, I was touched by that moment – the simplicity of happiness from one giver to one receiver to the multiple bystanders.
My own kindness examples that don’t cost much. I can’t quantify this benefit, but this is just what I am.
- Pick up trash on your way to run or work
- Hold the elevator for someone
- Spotting for coffee or bus for a stranger who’s a few cents short
- Offer to share your umbrella with a stranger
For more see: https://www.randomactsofkindness.org/
#33. They learn to outsource and delegate.
Tim Ferris urges you to start outsourcing in his book “The 4-Hour Work Week”.
I had a feeling of resistance when I was 3 years into my job as a management consultant. I was completely ignorant of how to proceed. So, rather than admitting my deficiency of expertise, I rationalized it by suggesting that this wasn’t for professionals like us.
I was so wrong. But, thankfully, I didn’t take long to get started with outsourcing.
It looked like I was being resourceful at the time. Our client wanted a technical assessment of particular software to identify the solution/requirements gaps. We didn’t have that but understood the importance of that piece to the business problem we are solving.
So, I suggested that I search for experts from elsewhere. And, I found him. We got the partner approval, used my personal account to hire the expert, and expensed it.
It was a good start.
Now, outsourcing is part of me. I use it to operate my online business with a variety of capabilities.
Today, outsourcing is a big part of the gig economy. It is a skill. So, you should learn to benefit from it.
High-income earners learn to outsource and delegate.
They know that they can’t do everything themselves. And they know that it’s better to focus on their strengths and outsource their weaknesses.
#34. They’re frugal and track their expenses
They care about real wealth, not the image of wealth.
High-income earners know that they need to be mindful of their spending. They are frugal with their money and only purchase things that they truly need.
They also track their expenses so that they know where their money is going.
Tracking your expenses is one of the best ways to save money. It’s also a good way to see where you can cut back on your spending.
If you want to be successful, start by tracking your expenses and being mindful of your spending.
I have been tracking my own expenses for the past 10 years with excel. But, still, I learn a couple of good tips from this video.
My biggest gap lies in not rewarding myself. What about you?
#35. They have a system for everything
High-income earners have a system for everything.
They know that they need to be organized and efficient if they want to be successful.
And they know that having a system is the best way to be organized and efficient.
For example, they might have a system for tracking their expenses, a system for managing their time, and a system for following up with clients.
If you want to be successful, start by creating systems for everything.
It will make your life easier and it will make you more successful.
#36. They assume a beginner’s mind.
High-income earners know that they don’t know everything. And they’re always willing to learn new things.
They have a beginner’s mind and they’re not afraid to ask questions.
This is one of the most important qualities of successful people. If you’re not willing to learn, you’ll never be successful.
Jonny Kim said he actively adopts a beginner’s mind. His humbleness is not only genuine but also deep. He has seen hell from his early childhood experience as well as having gone through the war. You will be amazed by his humility when you realize that he’s a former Navy SEAL, Harvard Medical Student, and a NASA astronaut.
This video is worth watching, but it’s 4.5 hours long. You have been warned.
#37. They have an emergency fund.
An emergency fund is one of the most important things a high-income earner can have. They know that unexpected expenses can pop up at any time so they are prepared with a cushion of cash.
An emergency fund will help you cover unexpected expenses without going into debt. It’s one of the best ways to protect yourself from financial hardship.
If you want to be successful, start by creating an emergency fund. It will give you peace of mind and it will help you weather any storm.
#38. They don’t just work for money.
High-income earners know that there’s more to life than just making money. They don’t just work for the sake of working.
They work to make a difference. They work to create something meaningful.
And they know that if they’re not doing something that they enjoy, they won’t be successful.
Paradoxically, when you start to work on chasing your life’s purpose, financial success often chases you back.
Recall that before Jeff Bezo created Amazon, he was a high earner at a hedge fund.
But, he decided to chase the big thing called the internet in the 90s. And the rest is history.
If you want to be successful, start by finding your life’s purpose. Once you find it, work towards it with all of your heart.
Money will follow.
#39. They aim to become 1% better every day.
High-income earners know that they need to continuously improve if they want to be successful. They don’t just sit back and relax after they’ve achieved a certain level of success.
A mental shortcut is to tell yourself to become 1% better.
1% better each day, is not 365% better every year.
Thanks to the compound effect, 1% better each day is 3,800% better each year.
And, thanks to the same effect, 1% worse each day is 97% worse each year.
It’s a powerful concept that’s worth revisiting and practicing from time to time. It’s a habit.
I have included a video from Jordan Peterson, a recognized psychologist, who stressed the importance of rediscovering and redefining your identity. Then inject the 1% rule to whatever goal or fear that you face. Make it small. Slow down. But, move forward.
a. It gives you peace of mind that you are making progress
b. It helps you to focus on yourself and compare yourself with yourself yesterday
c. It encourages you to take baby steps which leads to sustainable progress
d. It allows you to reflect on what you did well and what you can improve
It might not seem like much, but it will add up over time.
The best way to improve is to take small steps every day.
And before you know it, you’ll be light years ahead of where you started.
