Work Like A Billionaire

Want to be in the 1% club? LUCY TOBIN hunts out the habits that all billionaires share, so you can get a piece of the action.

- Lucy Tobin

What makes a tycoon different from you or me? It’s not just (really) big hair and the ability to leave a hotel without stuffing their suitcases with the complimentary miniatures. It’s the way they think. Steve Siebold, author of US bestseller How Rich People Think, spent nearly three decades interviewing the mega wealthy and found that the majority of us non-billionaires think with a ‘lottery’ mentality, while those who have propelled themselves to the 1% (that’s the richest 1% of the population who own half the world’s wealth) tend to have an ‘action’ mentality. “While the masses are waiting to pick the right [lottery] numbers, the great ones are solving problems,” he says. So, if you want to add some more zeros to your bank balance (or just keep on top of spiralling rent and an ASOS addiction) it’s time to adopt the habits opposite and start thinking like the super rich.

Have at least three sources of income

It’s time to get that side hustle on the go. Billionaires have multiple forms of income – Thomas C Corley, who spent five years interviewing more than 200 self-made billionaires and millionaires for his book Rich Habits, found that 65% of them had at least three different sources of money making its way into their accounts. Those sources include earned income (that’ll be your salary), profit (money from selling goods) and capital gains (investment).