15 SKILLS You Need To Develop If You Want To Be RICH

fifteen skills you need to develop if you want to be rich welcome to a luxe calm the place where future billionaires come to get inspired hello a lack sirs and welcome to another Sunday video here at a luxe initially we wanted to do a video dedicated to discipline alone since you guys have been requesting it for a long time and we promise we'll do it but there's more to getting rich than just that we studied over 100 millionaires and billionaires and interviewed some successful individuals from our inner circle in order to determine the true skills which can actually make the difference in your journey to success it's important to watch the entire video including the explanations because it's not just enough to know the things that we mention on the list but to actually understand them and see how you can improve in those areas this video is a self-analysis one where we recommend you grab a sheet of paper and after each fact we mentioned you should score yourself from one to five where one is bad and five is amazing at the end of the video you should be able to tell which skills you need to develop over the medium term and which ones are your current strengths we recommend you bet big on your strengths for the short term and over the next couple of years invest heavily into acquiring the remaining ones if you're new here welcome be sure to subscribe and follow us on instagram at a luxe it's going to be a long video but you know if we do it we got to do it right in it you'll find all the information you need to start making yourself a game plan with that said here are the 15 most important skills you need to develop if you want to be rich number one discipline success in business and in life is not a sprint it's a marathon your ability to keep putting one foot in front of the other no matter how difficult what the weather is like what the other people are saying or how you feel each day is what will get you to the finish line it doesn't matter what you're trying to achieve if you cannot discipline your actions you're probably not going to get it so what is discipline anyway it's your ability to dig deep within yourself identify your true goal and then act every single day in accordance to that ideal if you want to get in shape it means mastering your nutrition and hitting the gym every single day it doesn't matter if it's snowing outside if you don't feel like it or if there are other distractions which you would rather be doing discipline means you'll take care of the most important tasks relating to your long-term goal before anything else you cannot let a single day pass without closing in the distance between your current reality and your target this might sound easy in theory but it's the number one reason why people fail in life they are unable to discipline themselves to put in the work over extended periods of time how do you develop discipline 1 define what you want to evaluate why you want it 3 eliminate distractions 4 prioritize the most important tasks over everything else 5 track your progress 6 keep yourself accountable discipline and habits although different things work hand-in-hand if you've never tried to self-discipline meaning you've scored yourself with a 1 or a 2 here it's really time for a change we recommend you start with small things so we have a challenge for you wake up at the same hour every single day and make your bed for 21 days straight 95% of you will fail at this but it's more important than you think the first part will make you discipline your time it's up to you how many hours you wish to sleep per night but you have to wake up at the same hour every day you'll find it more difficult than it seems because it's so easy to oversleep the second part is the first step in organizing your life making your bed every single morning after you wake up will give you a sense of control over your environment now think about what we're asking you to do wake up every single day at the same hour and make your bed this will start creating order in your life and will allow you for other things to come into effect 21 days is a long time to test this but if you manage to pull through you'll find yourself increasing yourself fizzling score by at least one point every successful individual we know or have read about is self disciplined they know what they need to do every day in order to get to where they want to go if you can't even control your time and organize your environment you have no shot at running a large business and it's best to accept that this is not for you and you need to rethink what it is you wish to do with your life number two emotional intelligence people think that IQ is really important if you want to be rich or successful the truth is having the IQ could be a bonus but it's not what will make you rich high IQs rarely correlate to financial success because money isn't the result of word comprehension math skills abstract and spatial thinking but instead it has to do with understanding how people work how they think what they want need and how to really understand that information emotional intelligence is far more important in business and in life than your IQ you don't have to be smart in school to be rich the truth is most a students end up working for B+ and C students because while the a students waste their time trying to memorize all the useless information you get in school which doesn't really apply to real life B and C students are spending that time learning about others interacting with them and developing their social skills business and life are not about how able you are to regurgitate information but instead connect the dots in the real world and find ways to build your life on top of that in order to access how strong your EQ is ask yourself how well do you understand people is it easy for you to tell how other people feel what they want in general and what makes them behave the way they do rate your emotional intelligence from 1 to 5 now if you've scored below 3 on this one here's what you can do to enhance it we're going to break this into a two part process as well the first part has to do with yourself take a piece of paper and start to analyze your own feelings write down how you feel right now what about the last time you were really sad what happened and why were you sad what about happiness try to do this exercise for as many emotions as you can this will help you understand yourself better and get in control of your emotions the second part has to do with other people next time you're having a conversation with someone try to actively listen and understand the other person when they talk be in the present and not listen to the voice in your head which only thinks of what to ask next very few people are able to actively listen instead of just hearing things those who do have a way better shot at working well with people and guess what if you want to be rich you need to work well with others and be in control of your feelings number three self motivation things will get hard in your journey and to be honest you're in this alone yes your family and friends will be around but it's within yourself where you really make the decision to put in that time and effort if you're unable to motivate yourself we've got bad news for you you're not going to make it self motivation is one's ability to overcome obstacles in your mind that tell you you can't do it or why should you even bother self motivation is when you get yourself to put in the work because you want it so bad that nothing will stop you even if everybody around you doubts you your desire to achieve the life you want is so strong that nothing can pull you back from getting it along this list you'll realize how strongly all of the things we mention are interconnected and how together they form a strong net or structure on which you can create progress for yourself people who are lazy in general lack this ability your inability to self motivate will lead to time being wasted it might not seem like much skipping work today but they all add up and snowball into a life of mediocrity here's what you need to do if you want to improve yourself in this regard the first part is to once again dig deep within yourself and find what the perfect life would look like for you let's do this experiment right now in an ideal world where there are no boundaries what would a day in your perfect life be close your eyes and try to visualize it to the very details what does your morning look like where are you who are you with what do you do after your breakfast what does the house you live in look like what do you do in the afternoon what are you wearing what do you feel what do you smell what does that life taste like now what you've just experienced is your life goal this is why you'll put in the work if you do everything right you can make it happen the second part is creating reminders of what that life is like we recommend changing the background of your devices to fit that life we look at them multiple times during the day and every time you'll see it it'll remind you that you need to work harder if you want to get it this is how you motivate yourself when times are hard the goal is bigger than everything and all the hard work will be worth it number four maintaining focus everything around you has been engineered to distract you we live in a world where attention is the new currency we see a trend among people where it's increasingly hard to maintain focus because every day more and more distractions try to hook you in maintaining focus has to deal with one's aptitude to choose activities which will serve your ultimate goal over activities that feel good in the moment but have little rewards for the long run carpe diem sounds good on paper but it's never led to anyone who's built anything worth mentioning in their lives how focused are you on your journey let's take yesterday or even today if you're watching this later in the day apart from watching this video which actions did you take today which will impact your future breakdown for yourself what you did throughout the day from the moment you woke up to the moment you want to sleep or this moment right now how many of them contributed to your journey how many are just time being wasted we recommend doing this analysis of your day at least once a week in order to determine if your focus is increasing or decreasing over time you'll discover that you're wasting incredible amounts of time on things that add little to no value to your current or future life you don't need to binge watch everything on Netflix or spend hours playing video games that is if you want the life you visualized at number three number five reading we've said it before and we will say it again successful people read a lot of books on average they read about 50 books per year while the average person reads about only 1.5 you need to start reading and you need to do it right now reading is better than watching videos or audio books because the brain processes text differently than it does with video or audio when you watch a video the visualization of the information happens on the screen when you read the information is processed within and makes correlations to your internal memories and reality imagine you can absorb the knowledge someone gathered in a lifetime in a single week just by reading a book reading evolves your main asset which is yourself we know that most of the books you've tried reading were incredibly boring so we made 2 lists of the books we believe not only you'll enjoy reading but they'll impact your life the most those two videos are called 15 business books everyone should read and you can open part 1 of the series by clicking in the top right corner right now we recommend you watch both of them because we carefully selected and explain which books you should read depending on what stage you are in life in those videos so you'll definitely go on to find something you want to read there number 6 play the long game everything you've done in life so far has been for the immediate future you studied in school because you had a test the following week you watched all the episodes of friends because it made you feel good in the moment you're eating junk food because that's the more accessible thing for you right now if you wish to be successful in life your mindset needs to change dramatically you need to stop looking for shortcuts for get-rich-quick methods you're not going to like what we tell you about this but it's the truth it will between seven and ten years to change your life being successful requires you to think ahead and take actions now which will have an impact over the long term the quicker you realize there's no other way around it the quicker you can start to take the right types of action ten years might sound like a lot of time where plenty of things can happen but the time will pass either way and without a plan you'll find yourself 10 years later doing the same mistakes but filled was more regret that you didn't take actions sooner we recommend that once you find what your endgame will look like to deconstruct which things that need to happen for you over the next few years which will take you as close to that goal as possible and then focus on getting closer to those things there is no elevator to success you have to take the stairs number seven continuous learning rich and successful people never stop learning not only through reading but learning from everything that's around them it's incredible how much you can learn about life just from observing what's happening your success depends on your ability to continuously learn acquire new skills and use those to further yourself the goal is not to know as many things as possible but to understand as many things as you can there's a crucial difference between the two the first one fills your mind with information while the second one allows you to connect dots others might not be able to see the first one will drive you mad while the other one will help you understand the world ask yourself what is the last time you've actually learned something that is of real value which made your life or the life of those around you better this is how you keep track if you're growing or not continuous learning is about improving your current self on a consistent basis this will ultimately lead you to make better decisions and live a more fulfilling life the moment you stop learning you start to die number eight how to sell selling has a bad rap because most people think of it as manipulation instead of rationalized persuasion everything you do in life is a form of selling from the minute you are born when you're crying in order to get milk to the moment you die life is about interacting with others and selling is just convincing someone of the merits of an exchange if you learn how to do that you have a shot at winning at life because you're going to have to sell a lot of people on a lot of things in your journey you'll have to convince your partner to be with you you'll have to convince your friends to trust you and if you want to be rich you'll have to prove that whatever it is you're offering is worth exchanging for money this is the basics folks if you're unable to understand the fundamentals of transactions you're going to have a hell of a hard time trying to get rich the following line will forever change the way you look at money people will trade their money for things they find more valuable than the money they just spent take a minute to read that again and run it through your brain if needed pause the video write it down and think about it the reasoning applies to time as well people will trade their time for money if the money they receive is perceived as more valuable than their own time if you know this to your core it will make you a great salesman you'll be able to rationalize their decision process and make the sale easier this video is about getting rich which means getting money but the same principles apply to every time of trade in life help me with this because I will help you with that if you've ranked yourself as bad at selling we recommend you read two really important books which we'll leave the link in the description of the video the first one is sell or be sold by Grant Cardone the second is start with Y by simon Sinek number nine learning to outsource now that you know how to sell someone on your ideas it's time to buy yourself the most valuable thing in the world time everyone who is rich or successful understands the importance of time and the fact that it is a limited resource we all have the same 24 hours in a day and no matter how much hustle you put in you can't work more than that by yourself that's when you start to acquire the time of others and use it for your goal in order to be successful one must be aware of their own strengths and use those to get ahead in any business or any project there are time-consuming tasks which are of a repetitive nature basically you do the same thing over and over again and this takes a lot of time here's how to approach outsourcing first you have to break down your entire process from beginning to end then look at the actions you take every single step of the way and determine which are the most time-consuming are there any repetitive tasks which demand a lot of time but not your creative mind if yes these are the ones you should outsource as soon as possible then find someone who you train to do that single task no more no less now you've got an extra time slot which you could use to expand or come up with creative ideas one of the mistakes first time entrepreneurs make is they try to do everything themselves because nobody can do the job as well as they can and it's true nobody cares about your business more than you do but remember this done now is better than trying to be perfect but never moving forward number 10 willingness to make sacrifices this is where you realize that the lifestyle you want doesn't come for free there's a great saying that we love which says the dream is free the hustle is sold separately it's not going to be easy but it's going to be worth it if you're smart about it nothing can be achieved without sacrifice sometimes we even end up sacrificing more than we'd like but it depends on the type of person you are and just how important winning is we are fascinated about this so we did an entire video dedicated to this particular topic honestly it's one of our best videos we've ever made and we believe everyone should watch it because it changes the way we look at wealth and that the people who do get it it's called fifteen sacrifices you need to make if you want to be rich and you can watch it by clicking in the top right corner number eleven marketing many people confuse selling with marketing I although admittedly they are similar there are fundamental differences between the two listen up everyone because this is the type of knowledge you only get during really expensive MBAs at the top financial universities hence you're getting it right here for free to put it in the simplest form possible selling has to do with the needs of the cellar while marketing is focused on the needs of the buyer if you sell something because the company needs to make a profit you market something as a solution to a problem these two are tracked differently as well you track sales by profits and marketing by the customer satisfaction marketing is the art of communicating to vast amounts of people in a simple and easy way to understand what your product or service is and how it can make their lives better being a master marketer alone could be enough to make you rich we've had numerous examples on our channel from pet rock which made Gary fifteen million dollars just by selling rocks to people to bottled water which through marketing alone created a multi-billion dollar industry by convincing people to pay for something which they already used to get for free we live in a time when anyone can become a brand and you need to start marketing yourself correctly we recommended some incredible marketing books in the past you'll find them in our books videos number 12 ability to motivate and inspire others there is another quote which we love and it goes like this if you want to go fast go alone but if you want to go far go together we've established back at number six that this isn't a sprint it's a marathon you need a team of people who believe in the same vision enough to share the journey with you the good and the bad parts of it people follow strong leaders and if you want to do great things you need to become one hopefully you've still got your piece of paper with you ranking yourself from 1 to 5 your ability to inspire and motivate others can dramatically increase your chances of success a solid team is stronger than any single individual people are inspired by your example so show them that you're willing to go through hell for your goal and those who will think your goal is worthy will join in the best thing to do in order to become an inspiration is to be genuine incredibly there's so much around that when someone sees another person actually working hard and being honest about their journey they find it fascinating we've never thought about ourselves as a motivational Channel we just worked really hard to make the best possible content and some people actually around 1.1 million people found it worthy enough to join our community we didn't start with the goal of being an inspiration but we put in the work ourselves and if someone is inspired good but that's a side benefit of hard work please remember this distinction there are so many people who just want to inspire others but who aren't willing to put in the work themselves number thirteen money management remember this you can make all the money in the world and still end up broke money is important actually it's really important but that's just the first part of it the second one is what you do with it after you get it this can make or break you so it's important for you to be a good patron to your money you need to take care of it and help it grow so you can use it later for the things that really matter think of your money as little soldiers do you just give your army away in exchange for temporary things no instead let them go out into the marketplace so they can return with more prisoners that's how your army grows getting rich is actually a lot easier than people think if you're willing to learn how to do it and put in the work most people assume that getting rich is just a matter of luck and they simply are not lucky enough but those are the people who don't watch these types of videos on YouTube in their spare time money should be used in order to protect yourself the more you have the better protection you have we recommend creating multiple streams of income from different industries unless they all fail at the same time you should be able to survive and build better ones in the future how many people do you know that immediately once they get their salary they go out on a shopping spree by things they don't really need you need to be smarter with your money even if that means not having the latest iPhone or the coolest new clothes what would you rather do impress some people who you don't really care about and who don't really care about you or use that money to put another brick towards your dream life with hopefully your dream companion it's one of those sacrifices we've talked about earlier choose who you want to be if you've scored poorly on this one we've recommended you try to keep track of your money for two weeks use the Notes app on your phone to mark down every time you pull out your wallet and how much you spend and on what at the end of those two weeks you'll be shocked about how much money goes towards things which had little to no impact on your happiness or well-being number 14 ability to quickly adapt to change it's not the strong that survive it's those who adapt the quickest the world is changing faster than ever and with it so do the rules to quote the now legendary car loves Mattos in his bit connect speech the world is not anymore the way it used to be we just wanted to slip that in because we giggle remembering him your ability to learn connect dots that didn't exist before and use everything to your advantage is what will determine if you can outlast this storm how many people you know who've built incredible businesses but failed to adapt and now their empires are gone a third of the people watching this video don't even know what this is blockbuster failed to adapt to the future even though Netflix wanted to sell their company to them remember when Yahoo didn't want to buy Google for 1 million dollars Yahoo remembers at the beginning of this video we mentioned intelligence well in the words of the great Stephen Hawking intelligence is the ability to adapt to change and it's time to see how intelligent you really are number 15 the ability to bring quality people around them if they're we were talking about people who will push you forward here we're talking about people who will open new paths for we've heard this numerous times your network is your net worth and to be honest we've always been skeptics about it until we realized this also has to do with protection if you've got the right type of friends the right type of mentors these people will protect you will help you grow faster and will leverage their own knowledge and resources to your aid if it's required we've always said that you are the average of the five people you spend most of your time with if you're surrounded by five poor people you're probably going to be the sixth if you're surrounded by five multimillionaires it's highly likely you'll join that club sooner or later we've touched upon this numerous times in our videos and if we were to pick what will have the greatest impact in your life it's finding the right mentor early on mentors are incredible people who accelerate your growth and help you navigate your world more easily because they've walked the same road before you if this is the first time you hear about mentors we have an incredible video titled 15 reasons why you should have a mentor which you can check out by clicking in the top right corner that video will not only show you the benefits of having one but will also show you how to find the right one for you if you get better at even half the things we've mentioned on this list you're already off to a great start and we genuinely wish you the best of luck in your journey we're curious to know a Luxor's which of these skills do you need to improve on the most let us know in the comments below and as you're already accustomed to as a thank you for watching this video all the way to the end you get a bonus fact number 16 they don't themselves when we said you should rank yourself on a scale from one to five on each of these things we want you guys to be truthful about your situation lying to yourself will only keep you from achieving your own potential in your journey you need to be brutally honest with yourself because you're not going to be good enough at many things in the beginning but you'll get better over time don't overestimate yourself don't try to portray a false persona instead be humble put your head down and put in the work there isn't a better piece of advice you're ever going to get it's up to you to make that dream life a reality because nobody will make it happen for you if you've watched this video up to this point we really have to congratulate you because we know it's been a long one please write no in the comments and we'll do our best to congratulate every single one of you personally thank you for spending some time with us a Luxor's make sure to LIKE and subscribe so you never miss another video we also hand-picked these videos which we recommend you watch next thank you for being an a lexer and we'll see you back tomorrow

Channel: Alux.com

Views: 1,640,506

Rating: 4.9226613 out of 5

Keywords: Alux, Alux.com, Alux Youtube, luxury living, luxury lifestyle, fine living, new life, most expensive, extravagant things, billionaire lifestyle, skills to get rich, hot to get rich, make money, become a millionaire, how to, discipline, motivate myself, self-motivation, learn to, sell, marketing, traits that make you rich, rich people skills, traits that predict success, money making skills, financial education, alux sunday video, focus, motivation, inspirational video

Id: MXCM0npChB4

Length: 29min 39sec (1779 seconds)

Published: Sun Apr 01 2018