[Disclaimer: The information provided here is for educational purposes only and does not substitute for professional financial or career advice.]
If there’s one thing I’ve learned from reading successful people’s lives, it’s that 99% of them did a lot of similar things early in their lives to set themselves up for later success.
Of course, there’s no blueprint for achieving success because everyone’s path is different. Also, the definition of success is different for each individual — money, health, education, fame, luxury, relationships, etc., you name it.
However, it doesn’t matter what picture of success you have in your mind because its answer is the same — preparation!
Dave East has rightly said, “Being self-made is a state of mind, and once you put that mentality to work, your success will come.”
1. Use the money to create money
Successful people are not those who know how to make money. They know how to use the money to create money.
Warren Buffet invested in the stock market when he was 11 years old. He lived off an allowance of $1/week and used the rest to buy stocks. By 30, his net worth had grown to over $10,000, which was a lot of money during the 1950s.
Lori Greiner, an American entrepreneur, investor, and television personality, always knew she wanted to start her own business. So when the time came, she used her tax return money ($1200) to fund it all!
Now, Lori Greiner is worth over $150 million and has created more than 500 successful products, and has over 120 patents to her name.
No matter how much money you earn, always think about the next steps you can take to better your life and become more financially independent!
Whether it’s through starting your own business or making wise investments, understand the power of money to increase your wealth!
2. Invest in passions instead of leisure
Things that excite or interest you are likely to be things that can make you successful later on in life because those interests show your capabilities.
It’s like an investment in yourself because you can make money with your passions. Some successful people made their hobbies into full-time jobs later on. People from Michael Bloomberg to Beethoven were known for their passions.
Gary Vaynerchuk, a prominent figure in the social media sphere, started with Wine Library. He practically grew up around wine at his family’s liquor store and was one of the first people who saw a future in that industry. Needless to say, he succeeded.
Leisure is necessary. But passions are non-negotiable. You have to find and do what makes you happy to have an extra career option in life.
It’s important to balance your time because people who spend all their time doing things they love never work a day in their lives. But it’s also naïve to pretend like work isn’t the backbone of society.