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For most people, it is never possible for them to become rich and wealthy while doing what they love. Most people tend to perceive making lots of money and living their passion as two separate matters. Yet, nothing is further from the truth!
In numerous researches done, realize that the happiest and wealthiest people on Earth tend to be people who love what they do and do what they love.
In this article, what I’d love to share with you is a brilliant personality profiling tool that I have picked up from a program known as “Wealth Dynamics”. Orginally created by a successful entrepreneur named Roger Hamilton, it demonstrates how many successful and the wealthiest people on the planet have accumulated wealth through following their natural path.
So what is your path of least resistance and your easiest road to accumulating great wealth?
First, understand that there are basically 8 methods you can engage in creating a fortune for yourself:
1. Creator: If you are one who just cannot get tired of creating new things, this is the path you may wish to follow. Creators are good at creating profitable ideas and businesses, but are not as effective in the management of day to day business issues. Since they dislike looking at the details, they should delegate everything, except the creative process. Good examples of creators are people like Bill Gates, Richard Branson, Steve Jobs etc.
2. Star: These are people who tend to rely on the strength of their personality, using their charisma to get what they want. It is relatively easy to spot a star in industries such as entertainment and the sports. A few successful stars that I can think of now include people like David Beckham, Barack Obama, Andy Lau etc.
3. Supporter: Supporters are natural networkers with tons of energy and enthusiasm. They tend to make great managers and leaders due to their innate talent in relating with people. In fact, one of the best places to find successful supporters is in the network marketing industry. Other well-known supporters include people like Jack Welch and Steve Ballmer.
4. Dealmaker: According to Roger Hamilton, these are people who are masters at connecting with others and are capable of reacting intuitively when the best opportunities present themselves. Compared to the rest of the wealth profiles, dealmakers are hard to find and can be valuable assets to people in the creator’s profile. Good examples of dealmakers include individuals like Donald Trump and Rupert Murdoch.
5. Trader: These are people who naturally hunts out bargains, naturally loves negotiating and get immense satisfaction from clinching business deals. People who are known to be great traders are found in the financial, real estate industries. They are particularly proficient in spotting opportunities at the right time, making huge profits out of “nothing”. Examples of individuals who excel in this area include George Soros and Peter Lynch.
6. Accumulator: Incremental growth is the key to this wealth dynamics profile. Accumulators are people who believe that the slow and steady always win the race. They tend to avoid risks and favor stability in the process of accumulating their wealth. They are patient and disciplined and will likely stick to an already proven system. A good example of an accumulator is Warren Buffett. The last thing you will expect an accumulator to do is to spurge and spend his/her money on luxury items.
7: Lord: Lords love looking into details and are renowned for their thrift. Their strength lies in their ability to squeeze out the cash flow from assets without needing to own the assets. Successful lords include Andrew Carnegie and John D. Rockefeller.
8. Mechanic: Unlike the creator, mechanics are not good at getting things started. Rather, they are better at completing things. These are individuals who are ceaselessly finding new ways to do things better. They are the ones who are naturally good at creating systems and include people like Henry Ford and Sam Walton.
So now that you have discovered the 8 paths to prosperity, which do you think is your path of least resistance? In fact, just by knowing these 8 wealth profiles alone may not take you to where you’d like to be. Very often, we may lack the necessary skills, capabilities, strategies, mental attitude etc needed, to achieve what you want. Thus this is where I have found NLP immensely helpful, since it allows us to model human excellence and short-cut our way to success. To find out more about how NLP can benefit you, please log onto www.learningnlptechniques.com.sg now. Remember: You can always live your passion and your dreams, while earning a fortune for yourself!
From a very young age, Warren Buffett was obsessed with making money and had a very clear dream of becoming a millionaire before 35. Warren was born during the depression when his dad was in the verge of bankruptcy. At a very young age, Warren learn the true value of money and the importance of being financially secure.
During his elementary school days, he would tell his classmates that he wanted to become a millionaire before the age of 35 (When he turned 35, his net worth exceeded US$6 million). Inspired by his dream, he started researching on the secrets of wealth creation.
Through his readings, he found and memorized a book called ‘A Thousand Ways to Make $1,000′.
At the age of 6, he started buying coke bottles at 25 cents per six-pack and selling them at 5 cents a bottle, giving him a 16% gross profit, as he would tell himself.
At the age of 13, he got a job delivering newspapers and through innovative marketing and distribution strategies, he served 500 hundred customers a day. How did he do that? Well, he was his own boss at 13, hiring other neighbourhood kids to do the delivery for him.
At the age of 11, he took all his savings and started investing in the stock market. His first investment was 3 shares in a company called ‘City Service’. While most kids were reading comics, he was spending most of his time reading company annual reports.
At the age of 14, he invested in pinball machines, which he installed in restaurants all over his town. He was earning US$175 per week, in fact he was earning as much as the average 25 year old was earning in 1944.
Warren later mastered the art of investing by modeling two of the world’s greatest investors during his time, Benjamin Graham (the father of Value Investing) and Philip Fisher (the father of Growth Investing). By combining the ideas of both geniuses and further refining them, Buffett later became the most powerful investor in the world!
Jonathan Quek (www.jonathan-quek.com)
Are you money smart?
In fact, few people in our society truly understand the way to riches. Thus, we are about to discuss a few points that may help you in improving your financial intelligence:
1) Start young: It’s important for you to master “financial literacy” as soon as possible. Experts say that children should be taught to save once they are in primary school. It “pays” a lot to start cultivating good financial habits at an early age. Habits are hard to change. It’s much more challenging to overcome a bad habit if you have been doing it for countless years.
2) Stay debt-free: This may sound crazy to some… but it’s critical for you to reduce the number of credit cards you own. The rule of thumb here is to spend lesser than you earn. When clearing credit card debt, pay the full amount owed rather than the minumum sum required so you will not be charged interest.
3) Save and Invest: As simple as it sounds, this is the EASIEST way for you to accumulate wealth. And this is exactly how billionaire Warren Buffett worked his way up to becoming one of the world’s wealthiest men.
4) Set financial goals: It’s important for you to set your financial goals right from the start. This ensures you will follow through your plan and achieve what you have aimed for.
5) Leverage: Make money, time and other people work for you. This is the path towards financial freedom. Unless you learn to gain leverage, it’s unlikely for you to build wealth. Rich people build assets, while poor people work for money.
6) Finding your strength: Everyone owns a different “money-making machine”. It’s critical for you to know what your “machine” is and how it can generate more income for you. Most people make the mistake of “diversifying” their efforts in making more money for themselves. They try to do too much, with the limited time and resources that they are endowed with.
According to the law of reciprocity, you are going to receive much more good in return when you are constantly out there to serve and give. When a person is greedy, he is constantly thinking of receiving more than he is willing to contribute. And although greed may be capable of bringing us a certain degree of success in the short-run, rarely can it provide us with a sense of fulfillment, true accomplishment and lasting success in the long-run. Greed equals failure!
When we begin to practice generosity in life, what we give is going to return to us in avalanche of abundance.
Remembering what a close friend once shared with me, he claimed how his business began to take off since he became a Christian. Always faithful in dedicating part of his income to the church, he began to receive more and more in return. In fact, this is a similar phenomenon that I have observed time and again in many of my friends who are truly givers!
It does not matter what your religious beliefs are, whether you are a Buddhist, a Christian, a Hindu, an Islam etc, the law of giving and receiving works for everyone. Sometimes, it takes a longer time for those “good” to return to us. At other times, the effect could be observed and felt almost instantaneously. The key is to allow it. The catch is to give without expecting anything in return, albeit knowing it in your gut, that this day will come!
Currently the world’s richest man, I am sure most of us can recall how many people were astounded when Warren Buffett announced to turn over most of his fortune (about 85% of his wealth) to charitable causes in year 2006. Pledging to gradually donate approximately 10 million of his Berkshire Hathaway Class B shares to the Bill & Melinda Gates Foundation, Buffett had literally become the world’s greatest philanthropists in history.
Consider this astonishing fact. According to the Forbes magazine, during the period from year 2006 to 2008, Buffett’s estimated net worth had grown from US $42 billion to US $62 billion! This is the power of giving!
When we give for the sake of giving, all the positive things will then begin to flow back to us, sometimes in an unexpected and amazing manner! The intention behind the giving is of paramount importance. The intention has to be for the creation of joy, peace, harmony etc: all good that are fundamental to life; that which supports life.
What is your mission in life?
Far too often, people have become so engrossed in earning their commission that they have lost track of their true purpose in life.
It is by finding and living our mission that adds meaning to our lives. As a young salesperson, I used to be driven by the thought of just making more money for myself, completely oblivious to my mission in life. Yet, as the going gets tough, I begin to realize how powerful a mission can be!
When you have identified what your mission is, you are really aware of what you are prepared to give in order to receive what you have asked for (commission). In fact, a mission can be defined as a special assignment that a person or a group is given. A mission also exists in a way for you to contribute and to give. By keeping your mission in mind, it is as though there’s a divine force that will continuously spur you on during the tough times.
It is through living your mission that you experience life at its deepest level. When we begin to realize that there is indeed a mission behind every commission, we should be prepared to focus our attention on what we could possibly do to enhance the lives of others first. Commission should always come later! For the more you give, the more you are likely to receive!
How many times have you felt envious when you see someone possessing greater wealth than you? Yet envy is the one emotion that causes the lack of wealth in the lives of many. It is very often the most powerful stumbling block to accumulating wealth.
The way to overcome envy is to be “grateful” for the prosperity of others. Say to yourself: “Isn’t it wonderful? I rejoice in that man’s prosperity! May he become wealthier and wealthier!”
To entertain envious thoughts is distratrous, since it places you in a negative position. Because the spirit is truly “abundance”, you will be “separating” yourself from wealth by attempting to “deny” the wealth of others. Therefore wealth flows away from you instead of to you. If you are ever annoyed or feel uncomfortable about someone being wealthy, intend immediately that you truly wish for him greater wealth in every possible way. This will neutralize the negative thoughts in your mind and cause an ever greater measure of wealth to enter into your life through the powerful law of attraction.
The Wealth Mantra: In an easy and relaxed manner, in a healthy and positive way, in its own perfect time, for the highest good of all, I intend $1,000,000 (or whatever amount you have in mind) to come into my life and into the lives of everyone who holds this intention.
