Rich People Think Different… Here’s 8 Ways How

Rich people know a secret. While normal people grind for a promotion or start kind of scammy side hustles. The wealthy, they get rich quietly. But I think everyone deserves to know their secrets. The thing that separated the richest people was not intellect, it was a set of principles that have taken me from being stuck in the grind to owning my time, having multiple businesses and eventually turning those businesses into freedom. They're not just ideas, these are actions, actionable, backed by research and data. And they've been lived out by some of the most successful people in the world. So in this video, we're talking about the eight principles of the rich. Number one, you become what you do. The habits you build determine the life you live. It's a simple truth. And so if you repeatedly do a thing, it turns out that's contagious. If your daily actions aren't aligned with your goals, you'll never actually have the success you're chasing. A study in the Psychological bulletin found that 45% of our daily behaviors are habits. These automatic behaviors are directly linked to your long term success or not. It's not about what you do occasionally, it's about consistency. So that means the majority of our outcomes, health, wealth, happiness, all directly tied to the routines you follow. The rich people, they know this. It's never just one skill. It's what Scott Adams calls your skill stack. This is fascinating. You may not be at the top 1% of any one thing, that's really hard. But being in the top 10% of multiple skills, that creates a world class stack. Habits work the same way. They compound into these unfair advantages. It was actually Aristotle, I think, that said we are what we repeatedly do. Excellence then is not an act, but a habit. This is sort of the understanding that if you do the same thing continuously, you will have a result that is a direct action of that. If you do nothing else for this portion, do this one thing. Power of place. So instead of you having to change, why don't you change the place you're at? It's a lot easier to change your friend group than it is to change your friends. And I'm not saying that you should leave people behind, but until you get a habit, don't be around people, places, things that are the detriment to the things you want in life. And by the way, don't feel bad about that at all. I'm your permission to not feel bad. The second thing that I learned from the rich is that you simply do not get rich unless you have equity or what I call ownership. Now this advice is not aimed to 20 somethings looking to make your first dollars. I made my first millions through salary alone. It's a necessary first step. But if you're a working professional with a chunk of money saved up, who's been in a job you don't like for very long, this advice is for you. Because the wealthy realize that at some point in your journey, you simply are not going to get rich unless you figure out how to get some equity. Even the highest paid employees know this and require equity too. So let's look at some top CEO salaries. Tim Cook, 3 million a year salary. Sundar Pichai, 2 million. Google, Jamie Dimon, 1.5 million. Sounds like a lot, right? Well, actually how they make money is something totally different. They actually make their money from equity. Look at Cook's net worth, 2.2 billion. Pichai's 1.3 billion diamonds, 2.3 billion. They didn't hit this level with a paycheck. They did it through ownership. Now let's consider your typical 9 to 5 job, fixed hours, limited vacation, boss breathing down your neck, capped earnings, stable. But at what cost? Your job isn't as secure as you think. And you might not be as valuable as you think to the company. So you need to figure out how to make sure you become so valuable that the company wouldn't exist in a way without you, or the same way and thus they want to give you some equity or you go start your own. These guys, the really rich, they're playing a completely different game, but it's a game you can play too. And honestly, wouldn't you rather join a game that rewards winning? Of course. Owning a business has its own challenges. And that's why I don't think everybody should own a business. But you should negotiate ownership. The next is that obsessing over your reputation is more important than anything else. It's actually your most valuable asset. Warren Buffett has a famous line, and.

That line is lose money for the firm and I will be understanding. Lose a shred of reputation for the firm and I will be ruthless.

And that is what I want us to realize is that it only takes really one bad decision to destroy your reputation. And so you want to guard your name fiercely. The really, really rich refuse to play short term games that could end up costing them their long term reputation. And that's what you guys are going to do too. I actually left a company because I didn't align ethically with them. The company at the time was a finance company. I won't say which one? And one of the divisions in the company, they just, it was like, it was like Wolf on Wall Street. You guys ever seen that movie? And I just felt like ethically these guys weren't very aligned. A lot of them were on their, like second or third wives or you know, side pieces. And again, like, I try not to judge other people. I don't know, maybe that was their agreement, but it wasn't for me. I was making a ton of money at the time and I could have stayed at the company, but at some point I realized even though I don't do those things because I hang out with people who do those things, they think I do those things. So it's like you're getting none of the fun if you're into that stuff. And all of the downside. If somebody cheats on their wife, they're going to cheat on you eventually. If somebody steals from somebody, they're going to steal from you eventually. If somebody consistently lies, they're going to lie to you eventually. Now let's not be too crazy. All of us are flawed and do a white lie here. Or maybe we've, I don't know, not paid our taxes perfectly. We're not here to be moral absolutists, but we are here to see the trend lines of humans. How do they treat people over time? Another thing that you can do, I was actually talking to Chris Voss about this famous FBI negotiator about what are the things that psychopaths have in common? And one of them is, is that psychopaths can't really keep long term relationships. Which makes sense, right? Because they figure out that the person's psychopathic. And so they said a big signal is, does this person have a group of friends that they have known for a really long time now? Not necessarily husband and wife only, although that's helpful, but friends and people who have worked them for a long time. And if they don't, that might be because these people play short term games. If you want financial freedom, you need skin in the game. But here's the catch. Most people waste time figuring out how to play instead of just starting. The wealthy don't do that. They hire experts. I hire experts. That's why I know domain money is a shortcut. They don't just help you manage money, they build you a system that works so you can focus on taking ownership of your time and your goals. So whether it's tax planning, spending optimization or investing, they handle the hard stuff. And you get the confidence of knowing you're doing it right with the certified financial planners that have over 10,000 hours of experience. Remember, you can't afford to sit on the sidelines. Book a free 30 minute strategy session today with domain money@domainmoney.com Cody Sanchez and start playing the game to win. This one has made me probably more money than just about any. But the last one actually do the thing you say you're going to do. I found time and time again that the gap between the average and the extended exceptional is just one thing. Follow through. Rich people don't just make promises, they execute them relentlessly. And your most important promises are the ones you say to yourself. So if you say you'll do something and you do it, that's wild. What if that is the only thing that separates us from most of the rich? That's what I've actually found. A test that I use in the hiring process is exactly that. We ask somebody in hiring to complete a real world task tied to their role. This could be anything from editing a document or solving a hypothetical customer issue. Why? Because the best predictor of future performance is past behavior. This trial project approach ensures we're bringing on people who will follow through. And the best way to determine that is basically what's the timeline you could do this in? They'll give it to you. Do they hit it on time or not? This is showing, not telling. Now it's not enough for someone to say they'll do something. You gotta actually be able to see them deliver on it. There's a great study from the Journal of Organizational Behavior that says people who are disciplined in following through rather than relying solely on motivation are 40% more likely to achieve their goals. I kind of like how Jocko Willink, who's a friend of my husband's, this retired Navy SEAL says, it's not what you preach, it's what you tolerate. Tolerate substandard performance. Then that performance becomes the new standard. Which is why if the wealthy have been wealthy for a long time, they hold everybody to the highest standard. You know that saying where they say every single day focus on the one thing that you really need to do? That if you did that and not anything else, everything else would become irrelevant. I've always liked that task, but here was my struggle with it. I'm like that one task I need to get done is so big that there's no way I can get it all done one day. That would be like a week of nothing else. And I wish. But my calendar doesn't look like that. Yours probably doesn't. Either. So instead, here's what I do. Every single day, I give myself two hours to work on the one thing. And so even if the rest of the day gets away from me, if I'm writing a book, I say my one thing is I have to work two hours on that goal. And that time commitment means that I am stacking up, compounding to the thing that I want. That's actually how I wrote this book, Main Street Millionaire. And without that two hour compound, I don't think we would have sold 30,000 copies and be one of the best sellers. Next Hard truth is you got to be proactive with who you spend your time with. You can either have allies or friends. The rich understand that your environment is a mirror of your future, especially humans. So the person that you marry and every relationship you have is actually the biggest determinant for how much money you're going to make. If you surround yourself with a history of winning, it rubs off. The reverse is true too. A bad partner or friend actually can decrease your success. Data backs this up. In particular, research from Harvard's 75 Year Study of Adult Development revealed that strong, meaningful relationships are the most significant predictor of happiness and longevity. Warren Buffett said this perfectly. He said, it's better to hang out with people better than you. So pick out associates whose behavior is better than yours and you'll drift in that direction. It's almost like they pull you. And I think there's a way to unintentionally surround yourself with the right people. So I audit my current circle, which is going to get me made fun of on the Internet. But I take stock of the people in my life and I ask myself, are they lifting me up or holding me back? Be honest about what the answer is. I don't know about you guys, but I don't hang out with a ton of people that I went to high school with. I am not the same person that I was when I was in high school. Now I married somebody that I knew from high school. So I'm not saying everybody's bad. They're not. My husband's amazing and a badass. But I imagine that the people who you went to school with, the people that you were a high school student with, are not going to be the people that move you to the next location. In fact, they knew you as a former version of yourself and they loved that version. So as you change, it's hard for them to be really excited for that new you. They think that they might lose you the next one the greatest muscle you can build is urgency. Here's the truth. The wealthy move fast, faster than you can ever imagine. They know that decreasing the time between having an idea and acting on it is where money is made. And urgency is cool because you can learn that you can shrink the timeline between thinking of an idea and taking action in it. This is where you make all your money and it's the culture in all my businesses. So when most people say I'll do it next week, next month, the next year, I push for about half the time. We have a rule at the company called the 24 hour rule instead of the one week rule. How can you get me something in 24 hours instead of one week? Harvard Business Review actually shows that the fast decision makers outperform slower ones in 70% of high stakes scenarios. Faster you move, the more money you make. Parkinson's law also says that work expands to fill the time allotted for its completion, which means you take longer than necessary to complete a task or you procrastinate till right before the due date. So I love when Jack Welch, the CEO of General Electric, said that speed is the biggest weapon in any business. And that's actually how he turned around GE from a dying company to one of the most innovative one during his time. So how do you implement this into your life? 1. Set aggressive deadlines. If you think a task will take a month, ask. Hmm, how could I do it in two weeks? Shorter timelines mean you eliminate procrastination. 2. Communicate often and clearly. Frequent check ins and updates keep everyone aligned and accountable. When communication improves, execution speeds up. Prioritize action over perfection. Listen, it's never going to be perfect. That doesn't exist. So take the first step and iterate. Urgency is basically the difference between dreaming and doing the rich. They don't really wait. They're super impatient. That's like actually one of the things I've seen more than anything else. If you want to be a multi billionaire, that's what it takes. It's like I only have 24 hours in a day. It's the only thing I can't make more of. I have to be relentless with my time. Next one is avoid small talk. So I found this to be one of the main things that separates the rich from the rest of the they kind of don't waste time on surface level conversations. They get deep fast. And I don't mean like trauma bonding, but I mean asking the right questions. There's like this art to how can I really get to know another person and Can I get deep with them on the things that matter as opposed to the surface of where they're sitting? There's a lot of studies on this, but I thought this one was really interesting by the Psychological Science Institute that says that people who engage in deeper, more meaningful conversations report higher levels of happiness and connections. And it's only in these conversations that you can really build trust and understanding. Actually, if you guys don't know. Ray Dalio, founder of Bridgewater Associates, one of the largest hedge funds in the world, put it this way. Meaningful relationships and meaningful work are mutually reinforcing, which means that as you have relationships that are really based in trust, that leads to more opportunities, partnerships, and success. Low trust relationships, no money. High trust relationships, more money. So how can you, even when you're thinking that person is boring, go deeper with them? I stole some of these from my friend Chris Voss, which is one ask open ended question. Instead of like, how's the weather? Maybe be like, are you working on anything exciting right now? What's really, what's interesting for you in this moment? The second one that I liked from him is focus on value, not filling silence. So rich people don't just talk to fill gaps. So the next time you find yourself just talking at soccer practice, shift to something else that matters. You're gonna really stand out and build deeper relationships. I become friends with Jay Shetty. I don't know if you guys know him. He was on the Internet. I really like the guy. One of the ways that we became friends is actually I didn't do it on purpose, but I was like, can I just tell you something kind of embarrassing about myself that I'm struggling with right now? And I'd love to hear your take on how do you handle, you know, embarrassing thoughts like this? One, it was super vulnerable. I didn't do it on purpose, but like, you know, I was being super honest. And two, he felt that. So he was like, man, usually when people meet me, they want to impress me. And you were just kind of like, hey, I'm struggling with this thing. And that says something about your character. So I think, don't always feel like you have to be perfect or impressive. Just try to be real. Maybe more than anything else, guys keep going after it gets hard, and maybe especially when it gets hard, because the truth of the matter is, none of this stuff is easy. You know, they understand when you're talking to the super rich that the only way out is the through. You can't just have resilience as a nice to have it's the foundation it's all built on. So if you can train yourself to, like, when it gets hard, that is when you get excited, that's when you start to make a lot of money. So instead of having anxiety, it's making moves instead of seeing challenges and bitching about it. It's figuring out how to solve it. Instead of feeling like everything has to be perfect, it's getting excited when it's not. You know, my dad has a saying I love, which is, you aren't truly in the game unless you found yourself in the dead of the night, head in the hands, sitting in the dark, with no idea of what to do next. And I have been there. And, you know, when I talk to my friends about this who have built big businesses, they're like, oh, yeah, just once? Or do you mean each week? So if you take anything away from this, I want it to be this. People who are rich are not better than you, smarter than you, have more resources than you. Or at least they did it when they started. What's the difference between the really, really rich and you? Probably that they move faster, they take a little bit more risk, they obsess or keeping their word to themselves. And they do the thing that very few people do, which is when something goes wrong in the world, it's not the world's fault, it's their fault. Take a little ownership with yourself. I bet you end up getting some ownership from others.