None of us has a crystal ball. The scientific community, however, has found that certain attributes are more likely to predict success, financially and in other disciplines.
- Conscientiousness and disagreeableness
Warren Buffett once said that the ability to say no, is one of the things that separates the successful from the unsuccessful.
It appears there is a big correlation between earnings, and the ability to say no, in particular;
2. Delaying gratification
The Marshmallow Test is one of the most famous academic experiments ever conducted.
In the Stanford study, academics gave children a marshmallow. They also told them that they would get a second one after they returned in the room.
Those kids that could wait to get two marshmallows, instead of one, had greater life success across numerous domains.
The test has its critics, but patience and success are linked to a certain extent.
3. Facing adversity in childhood
Having childhood adversity, increases the chances of wealth and other forms of success.
A study looked at two sets of lawyers and accountants . The first set didn’t have any inheritance and had more difficult upbringings, and the second set had inherited some wealth.
Those without the inheritances and difficult upbringings had more wealth, despite having similar salaries to the other group.
It appears people who are more comfortable, are less likely to take calculated risks.
4. Reading and self-education
Mark Cuban reads for three hours a day. He partly attributed this to his success in his book (below).
Reading allows you to adapt to changing times and improves your brain function and creativity.
That isn’t to mention that it gives you plenty of new ideas that can be monetized.
5. Grit and determination
Many of us have seen the TedTalk about grit (below), from Angela Duckworth.
Various studies have found a link between mental toughness and varying levels of success.
Mentally tough people, are more likely to be successful, even after facing adversity at work, or in the home.