Do you want to build your wealth? Here are some solid gold tips on wealth building from three of Australia’s high flyers!
Learn Your Lessons
Young rich list member; founder of The Entourage
Headquartered in Sydney. The Entourage is
Australia's largest educator of entrepreneurs.
MAKE FRIENDS WITH FAILURE
In the real world, failure's an inevitable step to success. I was terrible at school and dropped out of university. You won't find anyone - be it Einstein, Edison, Newton, Jobs, Branson - who didn't fail more than they succeeded.
My view: if you want to become successful twice as fast, double the amount of mistakes you make.
DON'T FIXATE ON TALENT
When you study great people, you realise they're just as human as you are, with the same insecurities, shortcomings and self-doubt. Einstein said he had no special talents he just stayed with problems longer. When I started in business at 18, I didn't know what an invoice was. The keys are to work hard, commit yourself to something and ensure you're always stretching yourself.
WOO A MENTOR
Find someone who's been there, done that in your field and approach them with humility and respect. I've got mentors from sending them messages on Facebook or an email through Linkedln, offering to buy them dinner anywhere, anytime. This approach led me to spending a week with Richard Branson on Necker, his private island.
OWN YOUR CAREER
I have a mantra I live by: everything’s my responsibility, nothing's my fault. You career is not the responsibility of your boss or HR
department. It's yours, so take ownership, without beating yourself up for the failures.
The best energy management strategy is having a vision for
your fife and career. When you're living a life that aligns with your vision, that's when you find your energy. Because it no longer
feefs like work; it now feels like progress.
Founder and director of RapidPT
A Sydney based company
Established in 2012,it now tums over $250,000 a month.
SACRIFICE FOR SUCCESS
My motto is: bite off more than you can chew - then chew harder. You have to do the work that needs to be done. If that means working
80-hour weeks-sacrificing holidays, relationships - then so be it. Yes, it's an unbalanced approach, but you have to look at it as short-term suffering for long-term benefits. It's not for everyone, but that's
how I've done things.
You have three things you can invest in your own business-time, energy and money. You might not have money, but you'll always have time and energy. So you need to look at where you spend your time and energy and outsource things that aren't priorities. I outsource cooking and cleaning, and that gives me the time and the energy to devote to my business.
If you have a vision, it's easy to move forward like a bulldozer - but you'll leave a lot of damage in your wake. Throughout my journey, I haven't always treated my staff as well as I should have. But as an entrepreneur, you have to be able to align a team of people to one
goal. The moment you forget to say thanks or give praise, you risk losing your team.
OWN YOUR AM
Morning rituals are really important - if you win the morning, you win
the day. I get up at Sam on the dot and make my bed. That's a big win for me -cleaning my space. Then I'll meditate for 10 minutes using the Headspaceapp.