January 25, 2024


January 25, 2024

In Tom Corley’s five-year Rich Habits study, he posed 144 questions to two groups of people: 233 who were millionaires (including 177 who were self-made) and 128 poor people. Tom found three profound discoveries:

  1. There were certain Rich Habits that created Wealth
  2. There were certain Poor Habits that created Poverty
  3. There were 4 Paths to Building Wealth: #1 Saver-Investor Path, #2 Big Company climber Path #3 Virtuoso Path and #4 Dreamer-Entrepreneur Path

When we marvel at the success stories of self-made millionaires, one thing becomes crystal clear: not all paths to success and wealth are created equal. Among the several paths individuals take, some are longer while others offer a more rapid ascent. Here's a breakdown:

Saver-Investor Millionaires: 32 Years

Big Company Climber Millionaires: 20 Years

Virtuoso Millionaires: 21 Years

Dreamer-Entrepreneur Millionaires: 12 Years

The shorter timeline of the Dreamer-Entrepreneur stands out prominently. If speed is your aim, according to Tom’s research, embracing entrepreneurship could be your expressway to financial success. But is this route for everyone? As Reid Hoffman said,

"An entrepreneur is someone who jumps off a cliff

and builds a plane on the way down."

Entrepreneurship isn't merely a career choice; it's a calling. One that requires an array of distinct personality traits. As we take a closer look, you might recognize these traits within yourself or realize areas where you can develop:

High Risk Tolerance: Real entrepreneurs don't just take risks; they embrace them. More than recklessness, this quality is about calculated decisions. Their past triumphs over adversity sharpen their instincts, making them adept at determining which risks are worth taking.

Fierce Competitiveness: Entrepreneurs are gladiators in the arena of business. Their mindset is not just to participate but to dominate and win. For them, every challenge is an opportunity to come out on top.

Unwavering Stress Resilience: The world of entrepreneurship is rife with financial pressures and uncertainties. A genuine entrepreneur, however, develops an uncanny ability to navigate this world with calm and determination, even in the direst of circumstances.

Relentless Work Ethic: For successful entrepreneurs, their venture isn't just a job; it's their life's purpose. This passion drives them to prioritize their dream, often at the cost of personal comforts, knowing that the payoff will be worth it.

Mastery in Multi-Tasking: Juggling numerous responsibilities comes with the territory. Entrepreneurs smoothly transition between tasks, ensuring every aspect of their business gets the attention it needs.

Inherent Creativity: In a constantly evolving marketplace, creativity is the entrepreneur's best ally. This creativity sparks innovative solutions, paving the way to overcome hurdles and creating products or services that stand out.

So, as you stand at the crossroads of your career, looking at the promising horizon of entrepreneurship, it's crucial to introspect. Are these traits a reflection of who you are? Or are they attributes you're committed to cultivating? 

Remember, while the entrepreneurial journey promises rapid success, it also demands unyielding dedication and a specific personality fit. Before leaping, ensure you're not just drawn to the destination but are genuinely passionate about the journey itself.

For those who are built for it, there's no adventure quite like the entrepreneurial odyssey. Embrace it and you could be the next success story inspiring future generations.

"Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do.”

- Steve Jobs

"Do not be embarrassed by your failures, learn from them and start again.”

- Richard Branson

"The biggest risk is not taking any risk. In a world that is changing quickly, the only strategy that is guaranteed to fail is not taking risks.”

- Mark Zuckerberg

"The key to realizing a dream is to focus not on success but significance, and then even the small steps and little victories along your path will take on greater meaning.”

- Oprah Winfrey

"When you innovate, you've got to be prepared for everyone telling you you're nuts.”

- Larry Ellison

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