Are you on track to be a self-made super-rich Individual?
There are approximately 2,600 billionaires in the world and over 55.8% of them are self-made.
The Uk has more self-made super-rich than the USA- and we’ve got a few facts here about them.
Schooling
Did you know 59% of the UK’s super-rich didn’t go to University? Yes; over half of the British self-made rich left school straight into business, shunning university. But it’s worth noting they did not leave school to do nothing; they went to work.
Trade
Think they are all bankers or movie stars? No, not at all. One in six of Britains self-made super-rich founded their business in retail. Followed by being in Property and then by being in entertainment as the top three industries.
Same in the USA – Consumer and retail businesses has more self-made super-rich than any other industries. Followed over there by the Technology industry.
Age
If so far this is sounding like you – how old are you? The average age for British self-made super-rich when they founded their companies was 29. In fact 9% of the top 100 uk self-made entrepreneurs were under 20 when they began.
The average age the worlds self-made are at now they can claim to be super-rich? 47. This age is dropping – its down 11 years in the last five.
So what else are they doing that you aren’t?
They do not play safe with their money.
There is only a certain height to your wealth if you are conservative with your finances. The wealthiest use their money to make money, knowing that both the gains and the losses can be staggering along the way. They pay attention to their money and get smarter at seeing which high risk deals will work.
They talk about money.
The average Joe sees talking and dealing with money as stressful, and was no doubt brought up to see speaking about it is not in good taste.
The wealthiest people however see money with more logical eyes – its a tool that gives options and opportunities. They don’t use emotions when it comes to their money.
They don’t save, they invest.
According to T. Rowe Price {An American investment firm} in a survey of over 1000 adults over 30% said they were not talked to about money by their parents until 15. 82% said all talk was only how to save and be frugal.
Wealthy individuals teach their kids, at a much earlier age, to invest their pennies to make more pennies.
They read.
The super-rich all read often. They do not read to be entertained however – the choice of book is self help and personal development, biographies of successful people and history books.
They exercise.
Every single day. Not just good for the body but good for the brain.
They pick who they hang out with.
As in – they associate with likeminded individuals who are goal-orientated, optimistic and positive.
They avoid the negative situations and people.
They volunteer.
Over 72% of millionaires, self-made or not, volunteer five hours or more a month. It doesn’t just do good, it surrounds them with good people, and expands their network further.
They sleep seven hours minimum.
Sleep is optimal to success, it cannot be fixed or made up or added later on.
However –
They get up early.
Over 50% of all self made millionaires said they woke up at least three hours before their workday began. Its. Strategy to deal with the daily interruptions you cannot help – sick kids home from school, traffic, overlong meetings. You get up at five and deal with three things you want to deal with, before even starting work, giving you a sense of control over your life.
They seek feedback.
Fear of criticism is stopping most of us seeking feedback, but the super wealthy disagree and say feedback is essential. It shows what’s working and what isn’t, shows you if you are on the right track, and gives you information to go forward.
They don’t follow the crowd.
We have such a deep seated desire to blend in in, to be part of the herd, that we often do not do anything that would make us stand out. Yet, successful people separate themselves from the crowd and achieve great and favourable outcomes from doing so. They create their own herds and get others to follow them.
So, do you have what it takes? Have you ticked all the boxes to being one of the self-made super-rich?
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