7 Essential Principles To Wealth

Jan 24, 2012, Self Development

Today, I want to dive into some serious Wealth Principles that are absolutely essential to your future success.

Rich Dad Poor DadRich Dad, Poor Dad¬†was a revolutionary book that changed the mindset of people around the world regarding working for others (employee mindset) versus establishing a business vehicle (self-employed –> business owner) that would then lead you to the destination position of Investor, where you go from working for money to having money work for you.

One of the greatest benefits of being involved in the network marketing industry, and being connected with great leaders that I’ve connected to, is the constant encouragement surrounding you to invest in your own self…in your mind, in personal development, in educating yourself to become a better person.

It’s been said that if you just invest 3% of your income into your own personal development, you can guarantee your success.

Absolutely no other industry encourages personal development like Network Marketing does. It’s incredible being around like minded people striving to help each other succeed.

I was introduced to Robert Kiyosaki’s book, Rich Dad, Poor Dad early in my network marketing career and it entirely changed my mindset and vision for my life. Along the way, I’ve held on to 7 Principles that will ensure both personal and financial success.

Principle #1: The Rich Don’t Work For Money

money bagMost people, believe it or not, deep in their subconscious are afraid of having money. And this is why the majority of the world prefers to just have a job – despite how much they HATE it – for the sake of maintaining “financial security”.

On the other hand, the wealthy don’t work for money! They work toward a vision, with a goal in mind of what exactly they’re time invested into something will yield later on.

And if they don’t make a profit in their first 2 weeks on a project, they don’t drop it and run from it. Instead, they keep working their plan, that much harder and putting in longer hours in order to reach their goals. And guess what…in the end, they win, and money is ¬†never an issue for them again!

Principle #2: You Can’t Build Wealth Without Financial Literacy

piggy bank and blackboardEveryone says they want to be a millionaire but few even understand financial basics, such as the difference between a liability and an asset (not accountants’ crazy term of an asset either, I mean real assets!). Until you make the effort to devote yourself to developing financial literacy, you’ll remain a small fish in the big pool of sharks (banks, employers, credit card companies, ads & commercials, etc) that are eager to tear you to shreds, due to your financial ignorance.

 

I recommend watching this: What The Wealthy Buy On PayDay

 

 

Principle #3: Mind Your Own Business

stand out in the crowdThe biggest downfall for far too many “dreamers” is the fear of what other people think, which leads them to follow the crowd. The wealthy know that they will walk the road less traveled, they’ll go the opposite direction of 97% of the crowd. But, they also know that, because of doing so, in the end, it will be the very 97% they went against who will be paying them to be taught what the wealthy have done to get where they are! Novel concept, ehh?!

 

Principle #4: The Wealthy Don’t Run From Taxes, They Learn About Tax Advantages

money tree“Taxes”, a word most people hate, but also something that Entrepreneurs become familiar with and educated about very quickly (if they are to succeed).

Right now, at the time I’m writing this, there’s a huge ruckus spread across the media about the Republican primary debates. Mitt Romney, has been badgered by rival candidate, Newt Gingrich, claiming he pays too little when the majority of Americans paying taxes are in the 30-40% range. Romney, a successful businessperson, has earned some $40 million in the last 2 years, and has paid about 14% of that to taxes…far less than the 35% average, and ridiculed by the “masses” (the 97%) as cheating the system and paying too little.

But the fact of the matter is, the system is set up by the wealthy and for the wealthy. You could fight it all you want, or you can go out there and use the system to your advantage, work hard to become wealthy yourself and then reap the rewards of the very system those people fight against.

The world promotes Entrepreneurs and business owners, allowing them to keep more money in their pockets, because they are the very ones who provide the employment for the masses who are stuck in their employee mindset (previous Principle!).

Principle #5: Work To Learn, Not For Money

work to learn not earnMuch of the focus in the network marketing industry is put on the money to be earned. And it makes sense because that is want attracts the majority of the people into the business in the first place…it’s what motivates most to get going in the beginning.

But, as you become more personally developed, you’ll find money isn’t hard to earn like you thought it was, it all has to do with your mindset (which is impossible to understand before you have your mindset right, I’ve been there, I know), and you’ll begin to learn that the biggest benefits of building your own business and associating with so many great people are the skills and traits you develop within yourself, and the people you develop relationships with.

If you really want to acquire the mindset of a millionaire, commit yourself to working to learn, not working just for money!

Principle #6: Confront The Fear & Do It Anyway

fearFear is an overriding emotion that causes so many people to never even take action. At a physiological level, fear is an indicator from our mind telling our body that we’re stepping beyond the boundaries of our comfort zone into the “unknown”. It’s our subconscious trying to protect us and hold us in a place it feels we’re safe.

But if you want to change your life, you’ve got to get out of your comfort zone. Because everything you’ve done in life up to this point is what got you to where you are today, and if you want to have a different future, you have to change where you’re at and what you do today.

If you just learn not to let fear dominate your life and control the decisions you make, you’ll accomplish the things you desire in life. If you study the people you have risen to the top of their endeavors, you’ll see this is one of the common traits they’ve mastered.

Principle #7: Learn To Overcome Obstacles Quickly, And Move Forward Without Looking Back

Steve JobsEvery one of us makes mistakes. Shoot, I make a bunch every single day! We all have time we fail…sometimes miserably! And we especially hate the gut-wrenching feeling when things don’t turn out as we had hoped and planned.

You know what?…BIG HONKIN’ DEAL!

I live by the belief that you must Fail Your Way Forward. One of my favorite success quotes is from Michael Jordan, when he said:

“I have failed over and over again. And that is why I succeed.”

Sure it hurts when failures occur, we’re human. I’m not saying act like nothing happened and look around to see if anybody saw you, then just move on. Not at all. Recognize and evaluate your failures, learning from them, using that knowledge and experience to help you in the future.

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These 7 Principles provide a great foundation to achieving a life of fulfillment, freedom, and purpose. With these principles in place, and continual self-improvement, you can determine your own future, not let someone determine it for you.

To your success,

Brent Wehmeyer

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