Top 7 Traits of Extremely Wealthy People

Wealthy people share common traits. That's why they are wealthy. If you want to be extremely wealthy, learn and own these traits:

1. PERSISTENCE
On your way to achieve wealth, you will definitely face some obstacles. Overcome the obstacles and move on. Do not give up and be persistent. Wealth is achieved only by removing a series of stumbling blocks along your way to riches.

2. INVEST OR BUILD A BUSINESS
Extremely wealthy people are either businessmen or investors. Look at some of the richest people in the world. They all own companies. To create wealth, you must involve yourself in business or investing. This is where the money is. Start your own business and grow your wealth.

3. INNOVATIVE
To be very wealthy and to stay wealthy, you need to be very innovative. Being innovative ensures that you always come up with new ideas to create wealth. Look around you for some opportunities that can make you rich. Be observant and critical.

4. DO WHAT YOU LOVE
If you are not doing what you love, forget about getting rich. Wealthy people get wealthy because they do what they love. They love what they do so much that they forget that they are actually working. Find something you love and create business around what you love.

5. GIVE IT BACK
Donate some of your income to charity you believe in on a regular basis. Some extremely wealthy people even have their own foundations. They donate a percentage of their wealth to the cause they believe. The more you give, the more you receive. Do not hoard wealth, share it with people around you.

6. CONTINUOUS LEARNING
Keep learning to improve yourself. Extremely wealthy people believe that the greatest asset in the world is your mind. Your mind shapes your destiny. Invest in your greatest asset by reading books, listening to audio tapes or attending seminars.

7. LEVERAGE
Extremely wealthy people do not do everything themselves. They know when to let go. They hire the right people to do it. Bill Gates doesn't write software, he hires programmers to do it. To be very rich, you must know how to leverage. Hire people and use tools to do some of your work. If you do not leverage, there is so much that you can do, and this puts a limit on how much money you can make.

Besides the above traits, extremely wealthy people dream big and they take action to have their dreams come true. Furthermore, they persevere and have strong desire in achieving their dreams. first start out.

There is no clear answer to this question. But I can share some real life experience with you.

I have a friend who just recently quit his job and started a recruitment company.

While having a chat with him the other day, he received a phone call from a prospective employer.

After a long chat with his prospective employer, he was kind of unsure what he should do next.

Whether he should accept a job offer from the prospective employer and focus only on his recruitment business part time. Or just ignore the job offer and focus full time on his new business.

When I first started out, I quit my job as an IT consultant. I use my savings to fund my new business ventures. I focused on the new business ventures full time.

I went all out and there was nothing for me to fall back. This is something like 'do or die' thing.

This put enormous pressure on me but it was also a great motivating factor for me as well. I must do well in what I planned to do. I got no choice but to channel all my energy and attention to it.

When you leave yourself no option and no way out, you'll try your very best to achieve what you want to achieve.

Leaving yourself no option is like you were caught in this situation: make a million dollars in 3 months or you lose both of your hands.

Yes, you're right, in order not to lose your hands, you have to make a million dollars in 3 months!

If you were in this situation, I'm very confident that you'll find all the means to make a million dollars rather than giving chance to get your hands chopped off.

That's how you feel if you were to start out full time. You can see the results faster. And also you get things done faster.

A piece of advice before you decide to start out full time is to have enough financial buffer.

Your financial backup is extremely useful if your plans fail to generate certain amount of income in a specified time. You can use your backup to put food on the table.

Other than that, if you have a family, strong support from your spouse is utmost important.

Having said that, I'm not saying everybody who has plans to be on their own should follow my path and do it full time.

But if you notice, there are many success stories from people who started out part time.

One excellent example is Michael Dell, founder and Chairman of Dell Computer.

According to Forbes magazine, he is one of the youngest richest men in the world.

When Michael Dell first started his computer business, he operated from his university dormitory. He started out his part time business while he was a university student.

When his computer business grew faster than he could ever imagined, then only he quit as a student and involved full time in his business.

That's how Michael Dell started his multi-billion dollar computer business from a part time business.

Starting out part time is a safer path because you can still rely on your full time job.

The only drawback I can see if you start out part time is you may not put all your energy in it. Because you have a day time job as backup, you may not be as committed as when you're in it full time.

Many people gave up after a few months of trying and fall back to their 9 to 5 job.

Either you choose to start out full time or part time, success will be on your side if you have a burning desire and passion to succeed.

Abel Cheng offers small and medium enterprises exclusive global profits insider tips in his free publication, Abel Cheng's Business Diary. To officiate a bi-weekly subscription, please go to http://www.abelcheng.com/diary.html

In The News:

Justice for Success  New York Post
Record Breaking Graduation Success  Arkansas Razorbacks
Snacking on success  Inside FMCG
Education is ‘key to success’  Bradford Telegraph and Argus
Social Anxiety and Success  Harvard Business Review

Nothing Comes Easy

I am constantly approached by people when I am speaking... Read More

Persist Until You Succeed

The start of a new year is a good time... Read More

3 Steps to Defining Success and Defining Your Future

Q: Are you a success?A: Its all in how you... Read More

Persistence is Tops

To take the online road to success is not, contrary... Read More

Grow Rich With Your Thought

Our brain is a marvelous creation. It receive and transmit... Read More

There Is Room For Everyone At The Top

Do you believe that? Do you believe we can all... Read More

Perseverance - Your Key To Success

If failure is the roadway, then Perseverance is the vehicle... Read More

Who Makes You Better?

Commit yourself to spending time only with people who are... Read More

Principles Of Success

Succinctly said, success is harmony. When the result is congruent... Read More

Plan On Opposition to Your New Ideas. It?s Normal!

Lets face it, no one enjoys rejection. But the reality... Read More

How do Tiger Woods and other Tippy Top World Achievers do it ?

They 'do it' by sharpening their FOCUS on the task... Read More

All Life Wishes to Reward Its Benefactors

(Excerpted from the 1999 Weekend Seminar audio/CD series)Parents, leaders, employers,... Read More

The Major Key to Your Better Future is You

Of all the things that can have an effect on... Read More

Your Success

Success starts in your mind. Positive Thinking creates the advantage.Success... Read More

Your First Step to Success ? Eliminate Inner Obstacles

Think back to a time in your life when you... Read More

I Would Give Anything To ?

A couple days ago I was listening to a CD... Read More

Double Your Brain Power

Do you think you have an "average" or perhaps an... Read More

Consuming Passions Consuming Success

The other day I went shopping at the local consumer... Read More

Extend Your Influence Without Shortening Your Life

Please repeat these four words out loud: "Maximum Impact....Minimal Touch"... Read More

Reach Your Goals - Throw A Success Shindig

Once you've made it...throw a Success Shindig! Of course you... Read More

Bad Luck, Bad Choices, and Bad Habits

We were at some friend's house the other day and... Read More

Change Your Results by Changing Your Expectations

Our expectations get us into a lot of trouble and... Read More

Affirm, Visualize, and Receive - Is Planning Really Necessary?

"Don't get caught up in the how of things. If... Read More

iPod - The Ultimate Self-Help Tool

Wow, what an outrageous claim! Why do I say this?... Read More

Trusting The Higher Self

As very few people achieve enlightenment in one lifetime, as... Read More