People Who Make a Lot of Money Do These 11 Things — Do You?

By Mikey Rox on 30 September 2014 0 comments

There's not necessarily a trick to earning a lot.

Despite what a number of scam artists and sketchy emails would lead you to believe, accumulating wealth is inherently time-consuming and difficult, taking most people years and decades to do. But that's not to say that there aren't qualities or traits that can be identified in those who are successful making a lot of money. If we can imitate them, we'll be better off when it comes to our own pursuit of wealth. (See also: The 10 Kinds of People Who Get Rich — And How They Do It)

They say (or at least someone did) that if you want to be good at something, find somebody who already is good at that thing and imitate them. Since imitation is the highest form of flattery, it's as good a place to start as any. Let's dissect the rich.

1. They Learn How to Be Content While Staying Busy

How do you approach your work day or the hours that you put into making money? Do you count down the hours until it's time to go home?

If you view your work day as a block of time where you engage and then get to punch out to go do whatever you want, you're not doing one of the most basic things that high earners do. Being content and excited about what you do means you're perfectly fine to spend a lot of time on it. It might even mean that you work long past 5 p.m. or whenever you "punch out" without even realizing it.

2. They Do What They Love

The late Steve Jobs said, "The only way to do great work is to love what you do."

It's perhaps one of the most easily identifiable attributes of those who earn a lot. Whatever they do, it's almost always easy to see that they love and are passionate about what they're doing. That's not to say that you can't or shouldn't do other work that helps lead to or sustain something you're passionate about. But if you don't ultimately pursue work in something that you love, the climb to wealth is always going to be uphill.

3. They Arrive Early and Stay Late

Regardless of your schedule, following the template of those who make a lot of money requires you to go in early and stay late. Especially if your work is measured in output instead of hours.

4. They Make Money Based on Work Output

While we're on the subject… Most jobs pay you based on the amount of hours you spend working, whatever type of work that might be. Not only can that be demotivating, but it actually gives people the incentive to work less since their pay per hour doesn't change. If you can be in a situation where your pay is more closely correlated with what you accomplish, instead of the amount of time you spend working it it, you'll be far more motivated and focused on that work — and you'll earn more as a result.

5. They Have a Path

Moving beyond your current constrictions requires that you take a step that isn't just theoretical. People who accumulate wealth are able to do this because they construct a practical and attainable list of goals that helps them get from where they are to where they want to go. Small goals and practical steps will, in a sense, create a road map that leads to your ultimate goal of a more well-funded bank account.

6. They Manage Their Personal Finances Well

Building wealth is as much related to what you save as it is to what you spend.

Those who don't know how to manage the money they already have are going to have a difficult time using it to earn more. Take the time to educate yourself on personal finance or even go the extra mile and take a class so that you can learn how to handle the money you have coming in. In the long run, it's going to be more valuable to you than a bigger paycheck. (See also: Saving Money Is Easy If You Set the Right Goals)

7. They Focus on a Particular Skill or Niche

Those who are able to focus on getting good or experienced in something specific, that goes beyond broad categories like sales, education, or IT, are often going to be more successful and sought out. They've set themselves apart from the crowded realm of their profession and become a specialist with credentials that go beyond ambiguous titles.

8. They Learn to Be Self-Motivated

Self-motivation is one of the most important traits of wealth-building individuals. In fact, every job opening that exists is there because someone took the initiative to motivate themselves, start a company, and continue to work and push that company forward until they became big enough to hire someone. Be the self-motivator instead of the person sending in their resume hoping for a response.

9. They Push Through Disappointment and Boredom

In your pursuit of wealth, you're going to fall short and face setbacks. You're also going to face an incredible amount of boredom and mental exhaustion with what you're doing. Because if you're focused and committed to growing a business or pursuing a certain career path, chances are good that you're going to be doing a lot of the same thing every single day. That's going to get boring and tiring.

People who can push through the boredom and avoid letting it impact the quality of their work or heaven forbid, cause them to switch career paths in the hope of finding something more exciting, have a better chance at making a lot of money.

So while Steve Jobs above advised us to do what we love, he also advised us to stick with it: "I'm convinced that about half of what separates the successful entrepreneurs from the non-successful ones is pure perseverance."

10. They Know When It Pays to Spend

You should always be aware that there are situations where it's good to spend or invest in what you're doing. Thus, it's not always wise to save your money and refuse to spend. If a business can spend several hundred dollars on computers that improve their productivity on a daily basis for the foreseeable future, that's a situation where they would lose money by not spending it. Avoid being penny wise and pound foolish to give your business, career, or idea a better chance at succeeding.

11. They Network

One of the best things you can do for yourself as both a person and a professional is to network with people in your field. It doesn't have to benefit you monetarily, because even a friendly acquaintance, email, Twitter follow, or business transaction can give you a lane into an area of opportunity that you would never have had otherwise. Take the time to network and get to know those working in the same field as you or even competing with you. It's almost always a good thing and a worthwhile use of your time.

What are some traits you've identified in people who make a lot of money? Let me know in the comments section below.

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