The self-made Super Rich, individuals with a net worth of $500 million or more earned through their work and entrepreneurship, exhibit consistent behaviors that lead to extreme wealth creation. They set ambitious goals, excel in street-smart networking, and are adept negotiators. These principles are rooted in the beliefs of the Super Rich and are pivotal in their pursuit of extreme financial success. Adopting these guidelines may also aid individuals on their journey toward serious wealth accumulation and achieving their life aspirations.
Guideline #1: Define your value—do not let others decide your significance.
Self-perception plays a crucial role in approaching opportunities and challenges. The self-made Super Rich often have high self-esteem and believe in their ability to succeed, contributing to their accomplishments. It’s essential to resist limitations imposed by others when defining your value; you should decide your worth. The Super Rich excel in deal-making, introductions, and accessing valuable information through expert networks. To follow suit, identify your unique strengths and how they benefit various aspects of your life. Consider the value you bring in different situations due to these abilities. Ask yourself questions like: What value do you bring to the table? How have you determined your value? How do the opinions of others influence how you define the value you provide?
Guideline #2: Work your agenda—do not just be responsive to someone else’s.
To excel and achieve substantial success, having high-level goals and a well-defined plan is crucial. Reacting to events without a clear direction can hinder the creation of significant personal wealth. Take control of your narrative by becoming the central character in your story. Manage your professional and personal life, shaping the path you intend to follow. It’s essential to be adaptable, making necessary adjustments to your agenda in response to changing circumstances, but always as the decision-maker. While being supportive of others is commendable, it’s important not to lose sight of your own agenda in the process. The law of reciprocity suggests that helping others can yield future benefits, but it’s crucial to avoid letting your support for others detract from your own success. Ask yourself: Do you have a clear agenda for financial success? Are you taking charge of your future, or is someone else directing your focus toward their agenda to the detriment of your own?
Guideline #3: Help other people succeed. Do not miss opportunities to create greater success for those around you.
Working on your own agenda doesn’t mean neglecting others or being selfish with your resources. The self-made Super Rich typically view success as limitless and not a zero-sum game; their success doesn’t require someone else’s failure. In fact, they often strive for win-win situations, aiming for everyone to benefit and feel like winners. Some self-made Super Rich adopt this perspective because they genuinely believe it’s the right thing to do and are interested in making the world better. They support others through mentoring, investing, and philanthropy. Others do so for professional reasons, recognizing that helping others excel can create numerous business opportunities and build a network of valuable favors for the future. Questions to ask:How are you helping other people become more successful? Why is this important to your own professional accomplishments? Why do you think it is often detrimental to act in ways that adversely impact others?
Guideline #4: Surround yourself with talented people. Do not settle for those who are second-rate.
The people you associate with have a significant impact on your success. While it’s crucial to avoid unquestionably toxic individuals, it’s equally important to steer clear of second-rate people who can unintentionally hinder your progress. Your aim should be to collaborate with highly skilled, top-notch individuals. Professionals you engage, such as advisors in wealth management, can significantly influence your financial success. Many advisors may lack the necessary knowledge and skills, and it’s often up to you to critically assess their competence and, if necessary, disengage. You should seek to surround yourself with individuals who consistently exceed your expectations by taking initiative and going above and beyond. This principle applies to your business, career, or any team you work with, as their performance directly impacts your outcomes. For instance, a well-coordinated team of volunteers can greatly enhance the success of endeavors like cancer research fundraising events. In wealth management, effective professionals understand your values and deliver cutting-edge solutions aligned with your goals. Ask yourself: Are the people in your circle the best fit for your objectives? Are you actively ensuring you collaborate with talented and motivated individuals in professional settings? If not, consider why this might be the case.
Many self-made Super Rich individuals generally adhere to these four guidelines, albeit to varying degrees, recognizing that perfection is elusive. Like everyone else, they can sometimes get sidetracked or let their emotions cloud their judgment. However, what sets them apart is their ability to think before acting, avoiding impulsive decisions. For instance, they opt to hire only top candidates instead of settling for mediocre ones out of necessity. Repeatedly applying these guidelines when assessing situations can lead to improved outcomes, ultimately contributing to greater success in one’s career, business, and life. The key is to maintain a thoughtful approach rather than reacting impulsively.
ACKNOWLEDGMENT: This article was published by the VFO Inner Circle, a global financial concierge group working with affluent individuals and families and is distributed with its permission. Copyright 2022 by AES Nation, LLC.
This report is intended to be used for educational purposes only and does not constitute a solicitation to purchase any security or advisory services. Past performance is no guarantee of future results. An investment in any security involves significant risks and any investment may lose value. Refer to all risk disclosures related to each security product carefully before investing. Homer Smith is an investment advisor representative of Konvergent Wealth Partners. Konvergent Wealth Partners and Homer Smith are not affiliated with AES Nation, LLC. AES Nation, LLC is the creator and publisher of the VFO Inner Circle Flash Report. Investment advice offered through Integrated Partners, doing business as Konvergent Wealth Partners, a registered investment advisor. Integrated Partners does not provide legal/tax/mortgage advice or services. Please consult your legal/tax advisor regarding your specific situation.