All wealth is the product of labor
– John Locke
To become an automatic wealth builder you need to think and act, like a wealth builder. I used to think otherwise …until recently.
I am an optimist, do not get me wrong and I believe in the power of positive thinking. However, positive thinking is just one part of what you need to become wealthy. You see, my study of wealthy people tell different story about positive thinking. There is no clear proof about how positive thinking affects wealth.
The key to accumulating wealth is in your behaviour not your mood. One thing is clear; if you do what wealthy people do…you will produce the same result…That is accumulating wealth.
This means, you can be disappointed, when you follow the advice of motivational teachers…that is you can fake it until you make it.
In order, to become a wealth accumulator you need to learn about wealth building skills. You start by learning simple part of a complex skill. You then begin to think and act like a wealth builder.
Neural pathways
Learning a skill has the beneficial effect because in the process you create neural pathways in your brain.
Do you remember your first driving lessons… when you made mistakes during your first few lessons. However, with time and help from your instructor, you became a competent driver. Fast forward to the present, you now drive the car doing many things at the same time…without thinking. You have now become an automatic driver.
The same applies to becoming a skilled wealth builder. You need to learn a complex skill… the way you learn a complex skill is…You learn simple skills at first and then you build your skills to become masterful.
The most important step to becoming competent at accumulating financial wealth is practice.
Let me explain.
When you continually practice a skill, you become masterful at that skill
Why practice is important
When you practice a skill, you are creating neural pathways in your brain. The neural pathways you create become deeper with continuous practice.
The secret to becoming competent at wealth building is to practice slowly at first without making mistakes.
There is a reason you should practice a skill at first correctly.
When you make mistakes trying to acquire a skill – you create parallel neural pathways in your brain, making it difficult to master the skill you are learning.
The bottom line is this– becoming wealthy involves learning skills. You can only become a successful wealth builder when you practice wealth-building skills until they become part of your way of life.
The power of 10000 hours
In his book Outliers, the story of success bestselling author Malcolm Gladwell, showed that there is a direct relation between hours of practicing a skill and becoming an expert in any field.
In one of the studies cited by Gladwell, researchers found the difference in performance between a top musician and the average musician in a New York music school-was in the number of hours of practice. In addition, the study found that highly successful musicians, practiced harder.
The researchers concluded that the magic number to become an expert at any skill is 10000 hours of practice.
Let me explain this concept with real estate investing… because this fact is worth repeating…
To become a wealthy real estate investor, you need be successful at , finding and accumulating income producing and valuable real estate . And the more you keep on doing deals, the wealthier you become.
Donald trump is a wealthy real estate mogul because he is constantly doing real estate deals. His company recently acquired the Doral lake resort in Miami at below market value price. It takes a well-informed investor to pull that kind of deal. Trump has the practical understanding, because doing this kind of deals-real estate is like a part of his daily routine. He has become an automatic wealth builder in real estate.
You don’t need to do the multibillion-dollar real estate deals like Donald trump to become wealthy. You can gain financial independence easily by just doing one thing today…that is make a commitment to learn how to think and act like a wealth builder. Then you promise yourself that you’ll keep on working on one wealth building skill… until you become competent .
This is how you become wealthy. You make a commitment to find out how wealthy people think and acts, then you start changing the way you think and practice each simple skill you need to build wealth for life. You then keep practicing wealthy habits until the skill becomes automatic .
Here’s my advice , if you feel overwhelmed or confused about how to start your join to build wealth. …Take out a piece of paper and identify as many possible routes to wealth you know, then choose one area. You then make a pledge to yourself , you’ll learn and practice investing the art of investing in your chosen route until you become an expert. Becoming an expert at investing has a positive effect-financial independence
To your success
Akin Osho
P.S Learn how a self -made multimillionaire , can help you put together a complete step-by-step system for financial independence in seven years