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How the Truly Successful Grow Their Wealth

Most entrepreneurs can eventually settle on a business that is successful, stable and aligned with their purpose, but for some, there is still much more to discover.

Rather than spend years tucked into a cubicle and stashing unseen money into a retirement account, building a wealthy present and future through online entrepreneurship can be a lucrative alternative. For some reason, many people still view this as little more than an out-of-reach fantasy. However, most people have heard the stories or read the news reports of entrepreneurs who built their businesses from little more than scratch, and built a significant amount of wealth along the way.

So, what exactly differentiates those adept at growing their wealth from those who tend to hover around the same comfort level? Here are a few key differences:

Wealthy entrepreneurs understand the word “no” and when to use it.

Consider the old adage: “You can’t please all the people all of the time.” The same applies to business – you simply cannot take every opportunity that comes along. When it comes to building wealth, business owners need to understand when it is time to turn down certain offers or opportunities.

They have the right connections.

No, it is not because they were born with a little black book of business connections, it is because they understand the true value of networking. The importance of networking and maintaining a solid network of connections is far too often glossed over and ignored by those starting a new business venture.

Their wealth does not go ignored.

Sure, amassing wealth in the present is fine and all, but having that money around in the future is a good idea too. Instead of leaving huge chunks to sit in savings accounts with low compounding interest rates, wealthy entrepreneurs make investments, fund new business opportunities and keep close tabs on financial activities.

Work ethic typically has little to do with the gap between entrepreneurs who are building wealth and those who are not. This difference has much more to do with those who have an ability to gain an understanding of which tasks to dedicate their time and energy to. When a business venture continues to grow in success but wealth remains stagnant, it may be time to re-evaluate how much importance is placed on certain tasks.

Stress Got You Down? You Might Be Handling It Wrong.

Stress is one of those annoying constants in life that is pretty much impossible to escape. Like other unavoidable episodes or experiences, coming out on the other side of success better and stronger than before is all about how you handle it. In business, handling stress the right way can be the difference between a successful and mediocre venture.

Of course, it is one thing to discuss handling stress and something else entirely to be in the thick of it, which is why the most important aspect of handling stress is:

Preparation

Change will happen, and stress is an annoying third wheel that will almost always be tagging along. Understanding that stress will arise and preparing for it – go ahead, stash that chocolate in the top drawer – is key to handling it with as much grace as possible. And another thing, since you know stress is coming:

Stop beating yourself up

At the height of stress, it can be exceptionally easy to focus anger and frustration inward. Take some quiet moments of introspection and understand that yes, this too shall pass, and understand that kicking yourself while you are down will not help anything move faster. While you practice being kinder to yourself, remember:

You cannot control everything

If the source of your stress is outside of your control, focus on what you can do with the assets and resources that you have at your disposal. The only true limitations you have are the ones that you place on yourself. Stress might be an uncomfortable and unavoidable part of life, but that does not mean that it has to drag you down with it. Give yourself the time necessary to prepare, and let the next big episode of stress that hits roll right off of your back.