Graham Stephan on Building Wealth: Do This Now To Get Ahead of 99% Of People
Written by
Gina Hagler
Edited by
Maria Concepcion
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Graham Stephan is a real estate investor and YouTube influencer with over 4 million subs and nearly 11,00 LinkedIn followers. This self-described finance nerd with an estimated net worth of about $22 million has some solid advice about getting ahead of 99% of people and joining him in the top 1% of income.
Guiding Principles
There are two important principles behind Stephan’s success. The first is to be a contrarian by not following the crowd. If everyone else is working hard to become a geriatrician who treats the aged, separate yourself from the crowd by becoming a Doctor of Internal Medicine who diagnoses complex medical problems. You’ll still have to carve a place for yourself but do it in a less crowded field.
The second principle to guide you is to take a leap of faith. Stephan said that if Henry Ford had asked people what they wanted and followed the crowd, he would have focused on making a faster horse. Instead, he had the courage to believe he was correct and follow the adage of jumping. The net would go into car manufacturing before anyone thought it feasible.
Essential Personal Qualities
Many people take their path and believe in themselves, but not all are in the top 1%. The two principles are just the starting point; Stephan said you must also develop several personal qualities to distinguish yourself.
First, you must be obsessive. It would help if you wanted something so bad that you’d do it for free and won’t rest until you achieve it. You’ll organize your priorities around this goal and work with all you have to make it a reality.
Second, you must play to your strengths. Only some people are equally good at all things. Take a look at your strengths and weaknesses. See how these compare to ways of achieving your goal. Lean into your strengths. So, if you’re a statistical wizard, find a way to use that strength.
Third, act on opportunities when they arise. Of course, the opportunities must serve your goal and fit your strengths. Once you identify an opportunity that does, go for it. If you’ve done the prep work to decide on what you want and what you bring to it, take the shot.
Fourth, always show up early. Don’t be the person who keeps other people waiting. You’ll demonstrate respect for your time and their time by being there ahead of time. This will allow you to settle into the setting and formulate a game plan.
Fifth, don’t complain. Complaining is a waste of energy unless it is done to find a solution or a better way to do something. Complainers are hard to listen to. They also tend to have a negative outlook that keeps them from seeing the big picture and their place. Don’t be that person.
Last, be consistent. Meet your deadlines. Honor your commitments. Do the work to the best of your abilities the first time. Deliver a product you’re proud of time after time after time. Get the answers you promise when they’re due, time after time. Make a reputation for yourself as someone who consistently does what it takes.
Wanting to be in the top 1% is not enough. Following these principles and developing these qualities will give you a strong base for getting ahead of 99% of people.
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