Have you ever thought Why many people are so poor? You might have seen many people with high paying jobs and still poor.
Have a look at this extract from the founder of Alibaba Group Jack Ma’s speech on habits of poor people.
The worst people to serve are the Poor people.
Give them free, they think it’s a trap. Tell them it’s a small investment, they’ll say can’t earn much. Tell them to come in big, they’ll say no money. Tell them try new things, they’ll say no experience. Tell them it’s traditional business, they’ll say hard to do. Tell them it’s a new business model, they’ll say it’s MLM. Tell them to run a shop, they’ll say no freedom. Tell them run new business, they’ll say no expertise.
They do have some things in common:
They love to ask google, listen to friends who are as hopeless as them, they think more than an university professor and do less than a blind man.
Just ask them, what can they do. They won’t be able to answer you.
Instead of your heart beats faster, why not you just act faster a bit; instead of just thinking about it, why not do something about it. Poor people fail because of one common behaviour:
Their Whole Life is About Waiting.
Time is money. The rich understand this. But the poor never understand this.
The poor people always work for money. When it comes to the rich, Money works for them. It is quite easy to understand that working more or working hard won’t make you rich.
Sixty-five percent of the rich created at least three streams of income during their lives. Conversely, the poor all relied on one stream of income. They didn’t invest their time wisely in building their careers or building a side business.
It is ridiculous to think that you will be super rich working 9-5. A 9-5 job won’t even help you buy a Lamborghini [If that is in your wishlist].
I am not trying to convince you believe that working on a 9-5 job is bad. But relaying only on a job is bad for sure.
The rich made a habit of tracking their spending in the early days of building their wealth. It’s easy to lose sight of where your money is going. If you don’t have a lot of money you need to get into the habit of tracking every penny.
Also about the saving habits. Ideally, You should save atleast 20% of your monthly income. But no poor men do this. This is the reason why the poor become poorer and rich get richer.
Poor people always try to do everything their own just because they don’t understand time is more important than money as I mentioned earlier. It’s all co-related. One habit leads to another. They do not understand the idea of leveraging.
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