What the Rich Do in Times of Crisis

Some time ago I wrote an entry about how to earn money in times of crisis in which I offer you some practical business ideas that can help you earn extra money in difficult times like today.

However, I decided to expand the topic for two reasons. The first, because the improvements in the global economic crisis will be too distant and the short and medium term effects will impact our lives in such a way that we must be mentally prepared to find options to counteract these effects.

The second because this week I received an article from Donald Trump’s university, one of my favorite blogs with the title: “This is the best time for Real Estate”, which surprised me and produced a mental reaction that leads me (again) to understand that the rich are still rich, because they think and act differently from us.

So in this second part of the post I try to share with you some of the principles that the richest men on the planet practice and from which we have a lot to learn.

• They maintain an optimistic mindset. Usually the media is saturated with negative news and omens about failure and the terrible things that can happen. And while it is true that there are difficulties, while most of us worry about it “what will happen tomorrow“The rich maintain an optimistic attitude.

  They always believe and trust that tomorrow will be better they focus their energies on finding solutions rather than simply “to worry“.
• They find in each crisis a opportunity. Although this phrase sounds somewhat trite, it is still true because in every crisis there are always winners and losers. We simply have to choose which group we want to be in. While the majority suffer and become depressed in the face of uncertainty, the rich find and offer “alternatives” that multiply their wealth.
• They do the opposite of what the masses do. To paraphrase Robert Kiyosaki “if you see all the people going north then head south“Following the masses is a serious mistake that the rich don’t make.

  If the world panics, they will be in a restaurant with their friends and advisers creating and developing strategies to emerge victorious. What such an idea would be to do something similar with our friends and find successful alternatives together?

• They have a vision and they work for it. There is no greater power in the human being than to dream and fight for their dreams. The rich think big, they envision possibilities beyond “reasonable.” The rich have the power to believe.
• They look for strategic partners. There is no bigger mistake in life and business than being alone. To be successful you need to have someone and trust someone. The most successful men on the planet are surrounded by smart people and they all have at least one mentor. That person of total confidence who can help you keep the right course to the north.
• The rich pay themselves first. Paying yourself first does not mean you run out with your profits to buy a TV or a car. That is paying someone else.

  Paying yourself means using part of the money to invest it in such a way that that small monthly investment represents a long-term economic benefit for you and your family. What do you do when you receive your paycheck? What do you do with the profits of your business? If you really want to be rich, you must start by acting differently.

• They know the difference between hard work and smart work. You can spend 12 or 14 hours a day at your job and earn a few extra dollars. Or you can learn to use your talent, learn another language, professionalize yourself in a business area or start your own blog on the internet to turn your intelligence into income. The important thing is not to do things correctly but “do the right things“.
• They have a learner attitude. The wealthy learn every day and have no problem changing their paradigms about business. If something doesn’t work, they just try something else. I’m not just talking about “testing” but about learning and improving every day. The rich always have a book close at hand and absorb every principle in it.
• They dress for success. Have you seen yourself in the mirror today? You see the image of a successful man or woman. Do you feel like a successful man or woman? If not, it is time for you to start transforming yourself and becoming what you really want to see in the mirror. It seems like a simple principle, but what we are on the inside is what we will reflect on the outside.
• They develop financial intelligence. Times have changed and the way businesses worked 50 years ago or 20 years ago is very different from how they are now. In fact, we could say that the same crisis will make businesses different in 2 or 5 years.

  Financial intelligence is learning how to develop money management skills. Where to invest, how to invest, and when to invest are some of the basic things everyone should learn. The rich have an extraordinary ability to cope with change and adapt quickly. While some of us are wondering why things have to change and even resisting change, they will already be planning their new business strategies.

I end with a phrase of my favorites:

“A year from now you may wish you started today.“- Karen Lamb