Rich love their work and Stick to it

by: Stephen W. Gibson (repost from Academy for Creating Enterprise website)

Have you ever thought about getting rich? I guess everyone has at least thought about it. But what is the difference between those who think about it and those who do it? According to Napoleon Hill, author of “Think and Grow Rich,” thinking about riches is an important part of the formula for wealth accumulation.

But there is another school of thought suggesting that the more you think about it, the less your chances of becoming rich.

In one of my favorite books, “Getting rich Your Own Way”, author Srully Blotnick disagrees with Hill, citing his own 20-year study of 1,057 people. Eighty-three of his subjects became millionaires, but they appeared to have become rich almost accidentally. Meanwhile, those who were most obsessed by the idea of accumulating wealth never did. Blotnick found that among those who know how but said they didn’t want to put themselves through the perceived pain, or they didn’t want to sacrifice “just to have money.”

Others among those he studied felt a person only becomes wealthy by doing hard things one doesn’t normally want to do. So they worked constantly and frenetically, often at jobs they hated, in hopes that they would inevitably become rich. In fact, just the opposite happened.

The harder they worked at something they didn’t enjoy, the less likely they were to become wealthy. Meanwhile, those who worked day after day in their own business doing something they loved eventually did become rich, but it almost surprised them.

According to Blotnick’s study, the key to getting rich is working hard at something you really like. Blotnick also points out five characteristics shared by the millionaires in his study.

1.They were persistent. They found a field and stuck with it. Unlike their less financially successful counterparts, the future wealthy workers picked a field and, through good and bad times, plodded forward.
2.They were patient. Impatience keeps many from success because they are not willing to pay the price of long-suffering. Money was the reward to those who just kept struggling it out year after year, and being patient.
3.They did the petty as well as the nobler aspects of the job. They realized that there are pesos in the details.
4.While competition played a part in their success, they were not obsessed by it. They seem to compete more with themselves than their co-workers or people in the same business.
5.Outside investment activities consumed a minimum of their time and attention. More often than not, they made little or no money investing outside their own business.

Those of us who are in business for ourselves and who just go to work everyday in our ongoing struggling for financial independence might be closer to real wealth than we think.

**Building a business is 90% Emotions and 10% Technicalities. It is better to know less then act upon the knowledge, than knowing more without any form of action. It is BEST to know more and act more.