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According to my Rich Habits Study data, being naturally smart as a child or young adult does not correlate to becoming successful and wealthy as an adult. In fact, many self-made millionaires struggled in school:
- 14% of self-made millionaires were “A” students.
- 40% of self-made millionaires were “B” students.
- 13% of self-made millionaires were “C” students.
- 33% of self-made millionaires were below average students.
86% of the self-made millionaires in my study were not exceptional students. In fact, a third under-performed academically.
How can this be?
Most people assume that successful people are outstanding students.
Since academic performance and a high IQ are correlated, these statistics are evidence that a high IQ has no bearing on success in life.
In fact, a high IQ is often a disadvantage when it comes to success.
Academic success comes easy to those with a high IQ. But success in real life never comes easy. It is fraught with pitfalls, obstacles, failure and mistakes.
Success requires persistence and mental toughness in overcoming impediments to success. Its pursuit pushes you to the edge emotionally and physically. You must grow a thick skin and become accustomed to struggle, failure and mistakes. Those who are not accustomed to struggle, quit.
Ironically, individuals who struggle academically, become accustomed to struggle. Overcoming pitfalls, mistakes and failures is a daily habit for them. Struggle is their norm. They expect it.
Consequently, they develop a thick skin and no longer fear failure or mistakes – they are used to failure and mistakes.
This is important because success, especially for Dreamer-Entrepreneurs, is built upon a mountain of mistakes.
The greater your mistakes, the higher your mountain.
Tom Corley is an accountant, financial planner and author of “Rich Kids: How to Raise Our Children to Be Happy and Successful in Life”, Effort-Less Wealth, Change Your Habits Change Your Life, Rich Habits Poor Habits and “Rich Habits: The Daily Success Habits of Wealthy Individuals.”
