5 Foolproof Ways that Make You Successful and Wealthy

If life is all about feeding ourselves and our families from time to time, there would not be any complications. But, life for human beings is much more than that. Every person searches for something else apart from earning money.

However, we cannot underestimate the importance of financial need. The world treats you based on how much wealth you own. But we should not earn money for the sake of society or any external rewards. If you have a great purpose of why you want to earn money, everything falls into place.

Earning a lot of money is not equivalent to being successful. People earn a lot, yet they are unhappy. The reasons are many. Therefore, you should know how to balance material success and personal life.

Start With Why

Before embarking on your life journey, be it earning money or choosing a profession, first start with why. More than ninety per cent of individuals commit the mistake of falling prey to societal expectations without realising what drives them to carry out a particular task. According to modern management guru Simon Sinek, "If you start with Why, How and What falls into place."

Before choosing your profession, first, decide why you want to be in that profession. There could be many external motivations such as parental expectations, social respect, income opportunity and so on. But, these should not be the source of motivation. There should be something deep that should push you to go beyond all the challenges you face.

Many times I find that teenagers choose a particular stream in their education due to external perks. Unfortunately, they are not committed to performing the tasks that are required for them to succeed. External rewards will not take you anywhere after a certain point.

For a better understanding, let's say, for instance, that you wanted to be a doctor. There could be many reasons that motivated you to take this profession. However, you lack the commitment and intelligence required to qualify for the entrance test. But, still, you don't want to give up. In this scenario, you may or may not get into medical school.  Even if you become a doctor, there comes a point where you may not enjoy doing what you want. Therefore, be wary of external motivations.

Happiness means Excitement

If success means happiness, in this modern world, the definition of happiness is excitement. You need not wait till the result of what you want to achieve. While you are still on the journey of pursuing something, you can still be excited which makes you happy. The work you do will excite you which itself is a reward. While you enjoy the journey, you need not wait for the destination to feel happy and successful.

Filmmaker Rishab Shetty of Kantara fame was asked how he felt after being very successful through his recent movie. He only answered that there is no excitement and no expectation. Many people fail to understand his motive for making a movie. If he is not excited and motivated, then how can he make such a wonderful movie? This has been already answered. Rishab is not motivated by external rewards such as money and fame, he was already excited during the movie-making process. Externally he expected only that movie should entertain the audience and the producers should get back their investment with decent profits. If you are internally motivated, you need not wait for social validation.

Another advantage of taking inspiration from the self is that it takes time to reap the result of your expectation. The longer it takes to get the expected result, the more demotivated you are. After a certain time, you lose motivation to work because you are always looking outward. You can work towards your goal relentlessly only when you are internally motivated.

Success means having a big house for some people. It might be having freedom of time or doing the work they like or fame for some others. If you have a big house, but you don't have the time freedom and are bound by your professional emergency, you should revisit your definition of success. 

Earning and Investing

Once you have chosen your profession based on your interest, now it is time to save a part of your income irrespective of your present salary or income through any source.

Before choosing any profession, don't select it based on the income opportunity. Select it based on your interest. You can become a doctor and still, you may not enjoy your life, whereas you can become a professional actor and find fulfilment in it.

Once you start earning income, try to save at least ten per cent of your income and invest your savings. How to invest and how much to invest is still a million-dollar question for most people.

Based on investment experts, minus your age from 100 (considering we live for 100 years!) Whatever number you get, that percentage of your savings should be invested in stocks and mutual funds or any other investments. The rest of the money should be kept in savings funds.

For example, if you are 30 years old and 5000 per month, you should invest 100-30=70% percentage of your savings. For 5000 it 3500. Rest 1,500 amount should be invested in savings.

Invest in learning

There is no end to learning. The greatest mistake most people do once they join any profession is that they stop learning after a certain age. Irrespective of your age and position, there is always something to learn. Keep investing regularly in learning new skills and knowledge. This will help you rapidly grow in your profession. You may even switch from one profession to another if you find stagnation in your present job or business.

Even if you are a business person, you need to update yourself regarding marketing your product or services and also managing your employees. Therefore, never consider it too late for learning any new skill. Learning new things always keeps you young and enables you to perform better than your peers. The best investment you can do is to invest in yourself.

Give More Than What You Get

Either in your profession or business, you should always think of giving more in return than what you get. You get repeated clients and references only when you give good service. Giving has even spiritual consequences. We all know that the more we give, the more we get. Your income is directly proportional to the service you give. By giving more you can find fulfilment in your life as a professional and businessman. All the successful people in the world are the ones who started giving through their products and services and their philanthropic activities. You should give both as a service provider and also as a philanthropist. Irrespective of how much you earn, you must give a part of your income to serve the needy. 

To sum up, find a profession that aligns with your philosophy and is not based on what the world expects you to do. You can enjoy your life only when you like what you do. Start investing early irrespective of your savings. Learn new things regularly to be an extraordinary person always. And give more than what you are paid to create good customer relationships. Also, contribute a part of your savings to philanthropic activities. This world is a beautiful place to live.

(The author is an Academician, Career Counsellor and Life Coach)