For the new rich, being rich means living a luxurious life here and now.
Many people donate their best years to a job they hate to ensure a comfortable old age, and they find it worth it. They think the work has to be hard and that their efforts will be rewarded in the future. Putting off all the joyful events of their lives, these people will one day wake up and realize that time is wasted.
The "new rich" disagree with this way of life: they give up slave labor in offices and choose a luxurious lifestyle here and now. And you don't have to have millions of dollars hidden under your mattress. A fulfilling life is often much cheaper than people think. The things you dream of are not the domain of millionaires. All this is available to the “new rich” as well.
You need to be mobile and flexible. To become the “new rich”, you must be able to do whatever you want, when you want. It only requires a moderate, automatic stream of income: a source of money that you can easily maintain from anywhere in the world.
Live by your own rules and always set high goals for yourself
The "new rich" don't follow someone else's rules. They set their own, ignore conventional expectations, and are willing to “step on the tail” of anyone if necessary. With this way of thinking, you can set high, "unrealistic" goals and achieve them: travel the world, become a world tango champion or learn a new language every year. Don't settle for mediocrity. “Unrealistic” goals are much easier to achieve - few dare to think big, which provides a minimum of competition.
The “new rich” are trying to understand what the income from a daring decision can be in the worst case scenario.
Example. If you decide to travel the world right now, and nothing happened to you, what is the worst thing that can happen to you? People are intuitively afraid of traveling into the unknown because they never consider the actual risks. Take a critical look at the risks: even the worst "catastrophe" is not the end of the world.
Equanimity distinguishes the “new rich” from most people.
Take action now and leave your comfort zone
For many, the safe way is to work for wear, the illusion that they will enjoy life in retirement.
The right moment to start living your dream - right now! Forget about saying "I'll do it tomorrow." You should start doing the right thing today. You need to be ready to step outside your comfort zone.
The blind belief that everything will be fine someday and somehow is mistakenly called optimism, but in fact, it is mental laziness. It is born out of fear of the hardships you will face if you want to achieve great goals in life. Face your fears. Do something every day that scares you. Living a successful life is a willingness to do unpleasant things, have unpleasant conversations, and disregard accepted norms other people adhere to.
What we fear most is often exactly what we must do to make our dreams come true. The most dangerous thing to do is to do nothing and wait. Act here and now, every day!
And an employee can live like the "new rich"
The life of the “new rich” is mainly characterized by unlimited mobility. This is a complete rejection of the life of a worker. Even as an employee, you can travel the world - try to get maximum freedom within the company.
Time is not an accurate measure of labor productivity. Spending a lot of time at work doesn't mean doing the right thing or doing it the right way.
It is difficult to assess the productivity of a knowledge worker. The time spent in the office is the most obvious indicator. However, employees often seem to be busy, fill the day with meaningless tasks, and spend a lot of time in the office making their bosses believe they are doing a ton of work.
Thanks to advertising, Briefley is free
The New Rich is giving up the absurd rules of corporate work. He does as much as possible, spending the minimum of his time on it.
Be productive with your time on important tasks. Pay attention to completing only those tasks that will bring you closer to your personal goals and dreams. Focus on the things that matter, use the 80/20 rule: 20% of work produces 80% of results. All other work has very little effect.
Having got rid of all unnecessary, spend the gained time on important tasks and pleasant pastime.
Time is money: get rid of the time wasters and go on a low-information diet
Gathering information, such as reading newspapers, is time consuming. Go on a low-information diet and focus on getting a little information that is relevant to your job.
Make sure you get this information in the most efficient way. Don't waste time researching the entire topic if you can instead call a specialist who can quickly answer tough questions. This saves time and gives better results.
Time Thieves are activities or people who take advantage of your precious time by giving very little in return. Get rid of them.
Example. Meetings are black holes in which time and energy disappear, while most of them are completely unnecessary. A meeting is only necessary when several people are required to make a decision. If so, make sure there is an agenda and a timetable so that participants are focused on the results and there is no idle chatter. Don't attend meetings that don't need you. If the meeting went well without you, you may miss similar meetings in the future.
Avoid meaningless chatting with colleagues or focus on the issue at hand. When people turn to you, do not ask: "How are you?", "How can I help you?" Tell people right away: "Sorry, but I only have two minutes, let's get straight to the point."
Eliminate Distractions, Make Others Play By Their Own Rules
Focus on what will bring you closer to your personal goal. If you want to know how important a task is, ask yourself: "If this is the only thing I do today, will it be a good day?" For each yes answer, prioritize the task and complete it before any others. With such a perfect schedule, you can get all the important things done in half a day.
Never start your day by checking your email. This is a "thief" of time, give him as little attention as possible. If you need to check your mail, do it only twice a day: once before lunch and once in the evening. Aim to keep checking down to once a week.
Make people aware of your new policy. Write that your time is too limited and valuable to spend all day checking your email and therefore it may take some time for your response.
Don't let people call you about every issue that bothers them, constantly interrupting your concentration. Most things can wait. Have them email you or leave voice messages for you to check after more important tasks. Only urgent questions should take you away from work.
Group tasks. Set aside a period of time to deal with all the small tasks. Don't let them constantly distract you while you are working on something important.
Start a business that will bring you a stable income stream and will function independently
If you want to make a living doing just a few hours a week, you need an automatic source of income. Hire other people and waste their time instead of wasting yours.
It's pretty easy to start a business that can run without you. Distribute the work by type and find a specialist to manage each part. Outsource some of the work. Take advantage of companies that specialize in product manufacturing, delivery or after-sales service. Virtual assistants from India, for example, are very cheap but highly professional. Such a personal assistant can do almost everything that you would normally do yourself. As long as the tasks and goals are clear, the assistant will be able to complete them without your help.
By creating a business in which each task is assigned to a separate specialist, you can reduce your participation in it to a minimum. It is necessary to comply with the conditions:
There are two foundations for such a business.
Having the product itself is not enough; you need buyers.
Act like a pro and be choosy about your clients
You need to be convincing in the eyes of your customers. They need to trust you in order to trust your product.
Academic titles such as PhD are a good way to make yourself more credible. Prove your knowledge, write articles, and run workshops on topics related to your product. If you want to sell health products, you first have to become a health guru.
People tend to trust large companies more than small firms. Make your company look bigger than it really is. Give the impression that the company has a large number of employees:
Always act like a professional and use high standards when selecting your clients. The 80/20 Rule applies to customers as well: 20% of customers often generate 80% of revenue, while the other 20% account for 80% of annoyance, complaints and stress.
Find out which customers are increasing your income and take care of them. Get rid of clients that generate little revenue but create a lot of problems.
Increase the price, promise big results and achieve it
Promise your customers attractive benefits from using your product and keep your promises. By summarizing these benefits in one phrase, you can start selling.
Make the buying process as convenient as possible for your customers, save them from making too many decisions. The more choice a customer has - for example, between colors - the sooner he will abandon the purchase and leave.
Searching for profitable clients means choosing a premium segment. Ask for a high price and create a top-notch look. You will be able to earn more and create a more profitable business. The higher the profit on the product, the less you need to sell to meet your needs. At the same time, you will have to deal with fewer clients. People who are willing to pay a higher price rarely cause trouble, complaints or requests for returns. Even if the product doesn't meet their expectations, they are unlikely to bother you with returning it.
You could even take the risk and offer these customers a full refund plus additional rewards if they want to return the product. If you choose the right customers, they will not want to take advantage of such an unfair advantage; rather, they will trust you and your product even more.
The most important thing
Who are the “new rich” and how do you become one of them?
Many people donate their best years to a job they hate to ensure a comfortable old age, and they find it worth it. They think the work has to be hard and that their efforts will be rewarded in the future. Putting off all the joyful events of their lives, these people will one day wake up and realize that time is wasted.
The "new rich" disagree with this way of life: they give up slave labor in offices and choose a luxurious lifestyle here and now. And you don't have to have millions of dollars hidden under your mattress. A fulfilling life is often much cheaper than people think. The things you dream of are not the domain of millionaires. All this is available to the “new rich” as well.
You need to be mobile and flexible. To become the “new rich”, you must be able to do whatever you want, when you want. It only requires a moderate, automatic stream of income: a source of money that you can easily maintain from anywhere in the world.
Live by your own rules and always set high goals for yourself
The "new rich" don't follow someone else's rules. They set their own, ignore conventional expectations, and are willing to “step on the tail” of anyone if necessary. With this way of thinking, you can set high, "unrealistic" goals and achieve them: travel the world, become a world tango champion or learn a new language every year. Don't settle for mediocrity. “Unrealistic” goals are much easier to achieve - few dare to think big, which provides a minimum of competition.
The “new rich” are trying to understand what the income from a daring decision can be in the worst case scenario.
Example. If you decide to travel the world right now, and nothing happened to you, what is the worst thing that can happen to you? People are intuitively afraid of traveling into the unknown because they never consider the actual risks. Take a critical look at the risks: even the worst "catastrophe" is not the end of the world.
Equanimity distinguishes the “new rich” from most people.
Take action now and leave your comfort zone
For many, the safe way is to work for wear, the illusion that they will enjoy life in retirement.
The right moment to start living your dream - right now! Forget about saying "I'll do it tomorrow." You should start doing the right thing today. You need to be ready to step outside your comfort zone.
The blind belief that everything will be fine someday and somehow is mistakenly called optimism, but in fact, it is mental laziness. It is born out of fear of the hardships you will face if you want to achieve great goals in life. Face your fears. Do something every day that scares you. Living a successful life is a willingness to do unpleasant things, have unpleasant conversations, and disregard accepted norms other people adhere to.
What we fear most is often exactly what we must do to make our dreams come true. The most dangerous thing to do is to do nothing and wait. Act here and now, every day!
And an employee can live like the "new rich"
The life of the “new rich” is mainly characterized by unlimited mobility. This is a complete rejection of the life of a worker. Even as an employee, you can travel the world - try to get maximum freedom within the company.
- Be irreplaceable. Get the company to invest in you, attend trainings, and become the indispensable expert.
- Convince your boss that teleworking is a great idea.
- Make the transition to remote work as easy as possible. Define a test period: work outside the office one day a week for a couple of weeks.
- Discuss the results with your boss. Prove that you are more productive at home. You don't have to spend half a day on the road, chatting with colleagues or attending useless meetings - you have to accomplish much more in the same period of time.
- Increase your remote work until the day is no longer necessary for you to be in the office. == Be productive, not efficient: don't do things right, do the right things ==
Time is not an accurate measure of labor productivity. Spending a lot of time at work doesn't mean doing the right thing or doing it the right way.
It is difficult to assess the productivity of a knowledge worker. The time spent in the office is the most obvious indicator. However, employees often seem to be busy, fill the day with meaningless tasks, and spend a lot of time in the office making their bosses believe they are doing a ton of work.
Thanks to advertising, Briefley is free
The New Rich is giving up the absurd rules of corporate work. He does as much as possible, spending the minimum of his time on it.
Be productive with your time on important tasks. Pay attention to completing only those tasks that will bring you closer to your personal goals and dreams. Focus on the things that matter, use the 80/20 rule: 20% of work produces 80% of results. All other work has very little effect.
Having got rid of all unnecessary, spend the gained time on important tasks and pleasant pastime.
Time is money: get rid of the time wasters and go on a low-information diet
Gathering information, such as reading newspapers, is time consuming. Go on a low-information diet and focus on getting a little information that is relevant to your job.
Make sure you get this information in the most efficient way. Don't waste time researching the entire topic if you can instead call a specialist who can quickly answer tough questions. This saves time and gives better results.
Time Thieves are activities or people who take advantage of your precious time by giving very little in return. Get rid of them.
Example. Meetings are black holes in which time and energy disappear, while most of them are completely unnecessary. A meeting is only necessary when several people are required to make a decision. If so, make sure there is an agenda and a timetable so that participants are focused on the results and there is no idle chatter. Don't attend meetings that don't need you. If the meeting went well without you, you may miss similar meetings in the future.
Avoid meaningless chatting with colleagues or focus on the issue at hand. When people turn to you, do not ask: "How are you?", "How can I help you?" Tell people right away: "Sorry, but I only have two minutes, let's get straight to the point."
Eliminate Distractions, Make Others Play By Their Own Rules
Focus on what will bring you closer to your personal goal. If you want to know how important a task is, ask yourself: "If this is the only thing I do today, will it be a good day?" For each yes answer, prioritize the task and complete it before any others. With such a perfect schedule, you can get all the important things done in half a day.
Never start your day by checking your email. This is a "thief" of time, give him as little attention as possible. If you need to check your mail, do it only twice a day: once before lunch and once in the evening. Aim to keep checking down to once a week.
Make people aware of your new policy. Write that your time is too limited and valuable to spend all day checking your email and therefore it may take some time for your response.
Don't let people call you about every issue that bothers them, constantly interrupting your concentration. Most things can wait. Have them email you or leave voice messages for you to check after more important tasks. Only urgent questions should take you away from work.
Group tasks. Set aside a period of time to deal with all the small tasks. Don't let them constantly distract you while you are working on something important.
Start a business that will bring you a stable income stream and will function independently
If you want to make a living doing just a few hours a week, you need an automatic source of income. Hire other people and waste their time instead of wasting yours.
It's pretty easy to start a business that can run without you. Distribute the work by type and find a specialist to manage each part. Outsource some of the work. Take advantage of companies that specialize in product manufacturing, delivery or after-sales service. Virtual assistants from India, for example, are very cheap but highly professional. Such a personal assistant can do almost everything that you would normally do yourself. As long as the tasks and goals are clear, the assistant will be able to complete them without your help.
By creating a business in which each task is assigned to a separate specialist, you can reduce your participation in it to a minimum. It is necessary to comply with the conditions:
- Everyone should be able to communicate with each other without you as an intermediary. Don't make yourself a link in any part of the process!
- Delegate authority. People can solve most problems without your help if you just let them do it. You will be surprised at how savvy employees become when you ask them to take on more specific responsibilities and make their own decisions. == Find a product to sell and see if there is a market for it ==
There are two foundations for such a business.
- Resale of a product that already exists on the market. This is easy, but the potential profit may be limited.
- Inventing your own product. It only takes a few brainstorming sessions to come up with many ideas.
Having the product itself is not enough; you need buyers.
- Test the Market: Offer your hypothetical product to real customers. Create a fake online store: after the customer clicks the Buy button, a message will appear stating that the product is currently out of stock. Be sure to save the email addresses of these hypothetical customers, let them know when your product is actually available for sale.
- Run fake online advertising campaigns. Compare multiple advertisements to see which versions of your product generate the best response, get people to click on the Buy button more often.
Act like a pro and be choosy about your clients
You need to be convincing in the eyes of your customers. They need to trust you in order to trust your product.
Academic titles such as PhD are a good way to make yourself more credible. Prove your knowledge, write articles, and run workshops on topics related to your product. If you want to sell health products, you first have to become a health guru.
People tend to trust large companies more than small firms. Make your company look bigger than it really is. Give the impression that the company has a large number of employees:
- Provide multiple contact email addresses on your website.
- Use middle management job titles (“customer service manager”) to create the impression that the company has a multi-level hierarchy with a large number of employees.
Always act like a professional and use high standards when selecting your clients. The 80/20 Rule applies to customers as well: 20% of customers often generate 80% of revenue, while the other 20% account for 80% of annoyance, complaints and stress.
Find out which customers are increasing your income and take care of them. Get rid of clients that generate little revenue but create a lot of problems.
Increase the price, promise big results and achieve it
Promise your customers attractive benefits from using your product and keep your promises. By summarizing these benefits in one phrase, you can start selling.
Make the buying process as convenient as possible for your customers, save them from making too many decisions. The more choice a customer has - for example, between colors - the sooner he will abandon the purchase and leave.
Searching for profitable clients means choosing a premium segment. Ask for a high price and create a top-notch look. You will be able to earn more and create a more profitable business. The higher the profit on the product, the less you need to sell to meet your needs. At the same time, you will have to deal with fewer clients. People who are willing to pay a higher price rarely cause trouble, complaints or requests for returns. Even if the product doesn't meet their expectations, they are unlikely to bother you with returning it.
You could even take the risk and offer these customers a full refund plus additional rewards if they want to return the product. If you choose the right customers, they will not want to take advantage of such an unfair advantage; rather, they will trust you and your product even more.
The most important thing
Who are the “new rich” and how do you become one of them?
- For the new rich, being rich means living a luxurious life in the here and now.
- Live by your own rules and always set high goals for yourself.
- Take action now and leave your comfort zone.
- Even as an employee, you can live like the “new rich”. === How to be productive even with a four-hour work week? ===
- Be productive, not efficient: don't do things right, do the right things.
- Time is money: get rid of the time wasters and go on a low-information diet.
- Get rid of distractions like emails and make others play by their own rules. === How to create an automatic income stream? ===
- Start a business that will bring you a stable income stream and will function on its own.
- Find a product to sell and check if there is a market for it.
- Act like a pro and be picky about your clients.
- Increase the price, promise big results and achieve them.
