Entrepreneurs and Investors
Entrepreneur and Investor with her kid

9 lessons wealthy Entrepreneurs & Investors teach their kids

Here are 9 lessons wealthy Entrepreneurs and Investors teach their kids to be rich:

1. Start Early

Ideally, start as a student. You will notice that many wealthy entrepreneurs and investors started their journey when they were still schooling.

They may be investing or doing different businesses as they are now, but they started while still being students. Nobody succeeds immediately on their very first try.

Starting entrepreneurship and investing early as a student gives you more time to fail and learn without undue pressure to give up on your dreams.

If you already graduated, start now! Today is the youngest you will ever be again.

Read also: The power of motivation and passion in agribusinesses

2. Find a Mentor

“Learning from your mistakes is smart. Learning from others’ mistakes is smarter.”

Broke people think mentors are cheesy. Wealthy people know mentors are key. Without mentors, you will make unnecessary mistakes and slow you down.

First, you learn, then you earn.

Read also: How does the short chain approach work in France?

3. Focus On Learning, Not Certifications

Broke people want certifications to make their resume look prettier to get a “better” 9-5 job – having regular business hours usually in an office.

Wealthy people want knowledge to help them grow their businesses, assets and get wealthier.

4. Decrease Short Term Expectations, Increase Long Term Expectations

Wealth comes exponentially, not linearly. If you want instant but small money, go get a 9-5 job.

If you want big money, build your own businesses, invest in assets, and be patient. Wealth takes time to accumulate.

5. Be Obsessed With Getting Wealthy

“Be obsessed or be average.” – Grant Cardone.

No sports world champion ever became great by doing something half-heartedly.

Likewise, to get wealthy, you need to be obsessed with the game of money.

Entrepreneurs and Investors
Entrepreneur and Investor with her kid

Read also:  How to put women at the centre of Africa’s food systems

6. Invest For Cash Flow

“If it does not cash flow, just say no.” – Charlie Munger

Cash flow investors are not as concerned if markets are up or down. You buy the asset once and it will pay you regularly. (Eg. dividend-paying funds/stocks and rental real estate).

7. Raise Your Standards

“If you want to change your life, you have to raise your standards. Change your ‘Shoulds’ to ‘Musts’.” – Tony Robbins.

No matter how much you want to get rich, if you tolerate being poor, you will stay poor.

To get rich, tolerate NOTHING short of wealth.

Read also: How to trade on the agricultural commodity exchange market

8. Focus On Earning More

Saving is good, but it won’t make you rich. It is a limiting belief by the poor that saving is key to wealth.

No one saves their way to riches. You earn your way to riches. There is a limit to how much you can save – but none for how much you can earn.

9. Work Hard On Your Assets, Not Your Resume

The poor and middle class work hard on buffing up their resume with certifications and fancy past job titles and making them look impressive.

The rich work hard on building and growing their own financial assets, business, and getting wealthy.

Join our twitter family here and follow us

%d bloggers like this: