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The Fool-Proof Success Formula
Most people look for success in emulation of a successful man or
woman. In a way this is logical since the copy of a
millionaireís activities may provide some insight on their
affluence. However, as Dr Thomas Stanley discovered, he found
out that the general perception people had about wealthy people
were wrong.
Normally, what you would conceive of wealthy people are that
they live in wealthy neighborhoods with a large house worth
millions, two to three high-powered cars such as Porsches,
Testarossas, and Lotuses, two to three pools, Jacuzzis, a
wall-shaking entertainment system, etc.
Theyíd travel around the world in luxury and style with an
entourage of dozens, do drugs, drink alcohol by the case, and
exhibit sexually promiscuous behavior. This is the good life to
emulated? Well, thank goodness we were wrong!
Though these people may look wealthy, they can be described as
Income Statement Affluent. Their status in life may look good in
the books, but they have nothing put aside for the rainy times.
They really have no real wealth invested against their future.
They are living a high consumption lifestyle which will
unfortunately never last long.
What Dr. Stanley found out, was that the truly wealthy
individuals, the Balance Sheet Affluent, are not unlike you and
me in appearances. With slight differences. These people are the
most economically active people with real net worth of at least
millions to as high as hundreds of billions of dollars.
According to his study, the most economically wealthy of men and
women in America are:
ï Married to the same spouse for more than twenty five years.
ï Has three children on the average
ï Have a net worth of around $9 million on the average.
ï Living in the same home for more than 12 years.
ï Owe little to no debt. They are frugal and watch their
expenses like a hawk.
ï Owners of mostly second-hand cars.
ï Mostly business owners, senior corporate executives, attorneys
and physicians
ï Are mostly educated, but were not outstanding students.
Compared to the exciting Income Sheet Affluent people above,
they all sound like normal, upright people, donít they? They
would even sound like people you wouldnít exactly watch on
reality television, right? Exactly.
Balance Sheet Affluent people have other concerns than showing
off to others what they have achieved. It is simply not in their
agenda to just show off. There are reasons to their activities.
Follow these foolproof principles and youíll never go wrong.
Here are the Top Five Balance Sheet Affluent success factors:
1. Integrity. Be honest with all people. Sounds so simple
doesnít it? It is. But the application of this principle will
put your morals to the test. The ability for a person keep his
integrity under pressure, even in a losing business, is a
measure of his character.
Millionaires are concerned with this principle because in the
past, they have to take care of other peopleís money and
property. Any slight misdemeanor in a person marks him for
suspicion. He must always put himself above reproach. Oneís
reputation is easily broken, but must be kept at all costs.
2. Discipline. Balance Sheet Affluent people set their own goals
and never stop until they hit their targets. Nobody is around to
tell them to keep on going. This builds a fierce self-confidence
that brooks no excuse in themselves. They believe that the
harder they work, the less luck they have to rely on. So true.
These people make their own luck.
3. Social Skills. Balance Sheet Affluent people strongly believe
that the reason why they are wealthy is because of the people
who were willing to work with them. They are appreciative of
these people and never forget the good turn they have given them
in hard or challenging times.
This principle deserves special mention. Oneís ability to get
along with other people despite differing opinions and
viewpoints is a great skill that is even considered much better
than having high intellect. People always appreciate others who
see their unique value. They put more attention into taking care
of others versus being self-absorbed.
4. A supportive spouse. A person of like mind at your side is
more able to help you keep on course. Choice of a suitable
spouse is more important to wealth-builders than anybody else.
This is because having spouse with different ideas about wealth
will hinder the wealth-building process more significantly than
any other factor.
5. Hard work. There has been no cure to this yet. People still
have to work hard to create a self-sustaining system of wealth
for themselves. Other than just working, they have to be smart
about it.
Balance Sheet wealth-builders usually start out with little or
no capital at all to buffer their efforts. They are required to
take great risks and face their fears in the arena of business.
If they fail then they get up, make adjustments, and keep on
going until they hit their goals.
The five principles above is the formula for great success. Take
a chance and give yourself enough time to study the contribution
you are willing to give to society. Once you find it, go for it,
and donít look back.
About the author:
Daegan Smith the owner ofhttp://www.netmlmarticles.com>
Net MLM Articles and the leader of the fastest growing team
of successful home business enterpernuers on the net. Find out
how we're creating financial freedom all across the globe and
how to get in on the action FREE =>http://www.comlev.com
Written by: Daegan Smith
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