STEP 1. Decide what it means for you to be rich. For some people it’s an income of $100,000. For some it’s a million dollars in the bank. For some it’s $30 million in net worth… and for some it’s a whole lot more than that.
IMPORTANT: for some people (including me) it’s not really a financial measurement – it’s something else. Maybe it’s a state of mind, or it’s a set of relationships (with family, friends, community, etc.). Or it’s being able to ski a double-black-diamond run successfully. Or it could be something else.
But the bottom line is that you are going to shoot at a big target (and being “rich” is a big target), then you need to know what target you’re shooting at. You have to be able to see that target.
NOTE: here’s a little splash of reality – you will never be finished with Step 1. You will always be refining what it means to be rich. Please don’t shoot the messenger… that’s just reality, and it’s as it should be.
STEP 2: Study people who are rich, and do what they do. And of course, you want to be studying people who are rich by your definition of “rich”.
I know that sounds really simple… and, conceptually, it IS really simple. But the actual doing of it is a lot harder. And the reality is that most people are NOT rich or successful… so you don’t want to be doing what those people are doing. Most people are doing stuff that does NOT bring success. Don’t do that stuff.
You want to find the people who ARE having success (as you define success), and then do what they do. The best is if you can find several people to study, and try to identify the commonalities in what they’re doing. Study what they think and do, and study what they study, and study who they learn from.
Inevitably, you will find that some of the habits of rich and successful people are outside of the normal patterns that most people follow. That’s because most people are NOT successful.
NOTE: there are lots of resources that make the “discovery” part of this step easier than you would think. There’s lots of books about this type of stuff – including autobiographies and biographies.
STEP 3: Observe and record your progress… and then adjust.
You need to be self-aware… you will be installing new behaviours and habits. As you do so, it’s best if you keep some type of journal or record of your thoughts/actions. Look at what’s working for you, and what’s not working. Track your progress towards your definition of “rich”. Don’t expect overnight success (it won’t happen), but do celebrate your victories as they come.
Pay especially close attention to how your mindset evolves… because that’s the true secret to success. You will never be rich until you have a mindset that is rich and abundant.
STEP 4: Stop and have gratitude for your progress. Then go back and start over with Step 1… this is not a one-time formula. Almost everyone I know who is rich and successful (and I have the good fortune to spend a lot of time around those types of folks) is continually going through this process.