The #1 Success Trait Of The Mega Rich

The #1 Success Trait Of The Mega Rich

Donald-Trump-oprah-winfrey-gina-rinehart

Lucky for me I figured out at 22 if you wanted to be rich and successful in business or anything for that matter you should “model” other people who already are successful in doing what you want to do.

Of course, choosing that mentor carefully is the next part of that equation.

Anyway, all of this was very liberating to me personally and in turn to my income.

In fact the ability to model successful people and businesses and then improve on that model has been one of my great success breakthroughs.

A lot of people of course want to “reinvent the wheel” in the misguided hope that they’ll get paid more. The truth is “reinventing the wheel” is actually very very costly, time consuming and fought with danger.

All that said, there’s one trait of the Mega Rich that I see as a commonality among them and that’s what I’m going to reveal here.

I’m going to cut to the chase and reveal it upfront and then do my level best to back up my premise.

The #1 trait of the mega rich is being okay with…

Defying Industry Norms and Having an Immunity to the Inevitable Criticism they will get

The Secret of All Secrets in a word could easily be “DEFIANCE”

After all if you aspire to great success, you can’t afford to do anything the masses do because they’re broke, average, normal and mediocre.

Then there are the regulators and old boys of your industry who want you to believe you need to be bloodied and beaten before you are entitled to succeed.

They want you to believe there’s a “ladder to success” and you can’t “leap frog” the rungs of that ladder.

Of course, that ladder doesn’t exist, may be in your mind and others who find it convenient to keep you broke.

Trust me, I and my clients leap that “ladder” daily and don’t have a problem with it.

Want more proof? Well, there’s a thing called the “95-5 rule”. Essentially what that means is, 5% of any industry finish up dominating that industry.

Think about your industry and you’ll probably be able to name the 5%. Hopefully, you’re one of them.

This rule also applies to sport. 5% of the tennis players finish up dominating tennis and make most of the money. 5% of golfers do the same and 5% of an AFL football team is the same also.

5% are elite, 15% are going well and the rest make up the numbers.

In a business sense, all this stacks up also except at the bottom end of all of that there’s 30% who are so broke they can’t even afford to pay attention.

Don’t get me wrong, I don’t have a problem with you being broke, what I have a problem with is you staying broke particularly in this country, the greatest country in the world that rewards those who defy industry norms and being immune to criticism. Of course…

People sabotage the flow of money to them based on their “inner game”, not their “outer game”.

They usually go from one self-induced crisis to another. Follow them around for a day and you’ll know what I mean. You’re liable to be collateral damage.

The 2 richest women I know of, Oprah Winfrey and Gina Rinehart, each of them defy industry norm and are immune to criticism and are attacked literally on a daily basis.

Donald Trump falls in the same category. Trust me he defies industry norm and is immune to criticism and with hair like that you’ll need to be, although his hair is part of his uniform. He even jokes about it, I’ve heard him.

Another way of saying all this is…

High income earners are mostly paid for their ability to handle pain and “Be On” 24 x 7.

Now I’m not asking you to compare yourself with those 3 icons but in your industry, in your category, the high income earners have a higher pain threshold. They are more RESILIENT.

My partner, Ian Marsh, takes away a lot of the pain from me in our business. He does the things like the day to day running of the business that I don’t want to do anymore.

It allows me to do the things that are best suited to myself and the business, where I can deliver greater value to the business and clients.

There’s a hint there. You should aspire to that also.

No great point in doing the painful stuff that doesn’t provide the money other than recognizing it needs to be done… by someone else if you’re smart.

Finally if you choose to live the entrepreneurial life to a higher income then, the higher up “this ladder” you climb the more your bum will hang out and the more criticism you’ll need to endure.

Now not everyone is cut out for that and that’s OK. Simply understand it is a consequence you’ll need to contend with.

There is a “price to pay” for being rich and successful that most people don’t want to pay it.

However I would argue, everyone “pays a price”, rich and poor and everyone in between pay a price. The employee that stays stuck in a job they hate for 20 years “pays a price”.

The business owner and entrepreneur “pays a price”, they can’t go home at 5 o’ clock when everyone else does. You’ll even be criticized for that.

So everyone “pays a price” and for me it was a price I was prepared to pay.

All the Best,
Mal

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  1. Hi Mal

    Your secret to defy industry norms and be immune to criticism wakes us up its painful no matter which way you decide.

    Applying your strategies another client put $18,000 in my hands yesterday before I even started the job. Direct result of the marketing you taught me but it is upsetting my competition as I begin to dominate my sector.

    Very short time ago I was broke and lost everything after 25 years working. I previously won only 1/24 jobs priced with poor to no profits made.

    Applying Mals formulas I now win 1 of every 3 jobs, increased my prices 42% from low wholesale to high retail and do not start unless 100% paid upfront.

    Choosing to take the pain to grow to be the top 5% of your industry and have wealth, far exceeds the pain of staying with the masses, 95% broke, average, normal and mediocre.

    I am now systemising my business so it works without me.

    Big Thank You Mal.

    John Dwyer
    http://www.bizibrush.com.au

  2. Hi Mal, this is the best message I have read in a long long time.
    since About the last time Bill Gates mowed the lawn.
    Well done
    cheers

    Milie

  3. Hi Mal,

    Yep, good message – as always. Another thing that I have come to realise (which you have realised far sooner than me) is that it doesn’t matter what you sell – goods or services – it’s ALL in the marketing and packaging that determines whether it is successful or not.

    I have a passion for martial arts. I have engaged in it continuously for 45 years and have achieved a high rank through endless sweat and pain.

    There is a guy who swooped into this pastime on a worldwide level in the last few years and he has made umpteen millions. He has recently been exposed as a worldwide fraud but… NOBODY can deny that the package that he (falsely) presented took 10’s of 1,000’s in with its glitz and glamour.

    His only problem was that he was a man of straw. But too many people could not see past his marketing. They do now. But he made so much money.

    I am NOT for 1 second advocating that anyone should do this.

    All I am saying is that he captured worldwide imagination with a first class presentation.

  4. Brilliant Mal,

    I think the number one obstacle I’ve had to getting ahead in life is too much need to be liked and please others.

    I’m now welcoming a new direction in life and I can hear the old demons whispering in my ear. Your words couldn’t have come at a better time.

    Not only is being criticized OK – it’s mandatory!

    Thank you
    Nik

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