Oct 282013
 
Habits, Traits, & Principles of the Successful

Successful people are not lucky.

They simply follow a different ‘guidebook’ of habits, traits, and principles which Mr. & Mrs. Average do not either choose to or know about. Chances are, they are living far too much of their lives awash in the conventional wisdom, advertising/PR, and/or mass media entertainment sources to have dug far enough below the surface to hit the gold veins that would transform their lives from the inside-out.

However, let it be said that its never too late to grow into these!  I’m living proof, as it took me several decades post graduation from traditional schooling to have struck the gold. And, now that I have, the veins continue to appear: all over the place!  There is no shortage of world class information to make these veins produce additional gold; in fact, there’s so much that quite some time ago, I made it a large part of my life’s purpose to spread & share what I’ve learned with as many humble, honeable, & hungry people that I am able to build relationships with.

And, with the above mission in mind, here are ten to study, learn from, and live each & every day:

[1]  Have a Focus & a Purpose in Life.

+ Focus like a laser, and not like a flashlight.

+ Know your “Why” – this is imperative!

+ Define your purpose. Mr. Orrin Woodward thought so much of this, he used it as foundational Resolution 1 in his landmark book, ‘Resolved’  (!)

+ Keep in mind that purpose, legacy, and destiny are Level 3/highest of the high/ motivators. Once you find yours, your life will feel far more complete and fulfilling.

[2]  Always strive for Excellence

+ Self explanatory, yes?   However, one would be surprised, mildly, or perhaps more so, to find how many aren’t. Mediocrity and same-ness are prevalent in mainstream culture. “Home to work”, “home to work” …  is the mentality. And, when not working, you may find these same folks who are not living up to their potential holding their favorite sports teams to a super high standard.

+ Be the example. You’re the project. Not someone else – unless you are living intentionally for excellence in all areas of your life, you cannot in good stead point out others’ perceived imperfections or attempt to correct them.

+ Rise above the crowd. The crowd has fallen prey to a little known (yet becoming more clear) factor called ‘Sturgeon’s Law’ –  One has to read NYT Best Seller, ‘LeaderShift’ to be educated in depth on this law, however, in short form, it means that the crowd, defined as the 90%, will be average at best.

[3]  Always leave people better off than before you met them.

+ Every interaction you have with someone else can be scoreboard’ed on a scale of 1-5. Keep yours at 4 or 5 always.

+ Study books like ‘The Great Connection’, ‘Personality Plus’, ‘The Five Love Languages’, & ‘Positive Personality Profiles’

+ Be an encourager & a cheerleader. The world has too many discouragers, cynics, unhealthy skeptics, & correctors.

[4]  Take Responsibility

+ Look in the mirror. You are always the final responsible party. If you have/own a ‘victim card’, toss it in the trash, never to be played again.

+ Sometimes, taking responsibility means you accept fault when something is out of your control. However, leadership entails such high levels of ownership of situations, people/followers, and the resulting circumstances.

[5]  Always take on new challenges.

+ Living in one’s familiar zone won’t result in the success that is earned by those who are in the pool and moving against the current. The current will be given new life by those who stretch and grow in all areas. A challenge is an open opportunity; don’t pull down a shade over it.

+ The mindset of a winner and a climber is that of someone who takes things on with ambition and determination. Create the new reality by tapping into your vision. Overcome the goliaths and achieve the private/personal, public, and leadership victories that are yours for the taking.

[6]  Produce, regardless of the situation you’re in

+ Excuses are useless. Don’t ever make them. Find reasons to produce something remarkable.

+ Never whine. Never complain. Never make excuses.  Wooden’s set of three’s is just as applicable today, a few years after his passing at age 99, as it was when he was growing up.

[7]  Have a strong work ethic

+ You’re entitled to nothing except life, liberty (freedom), and the pursuit of happiness. Natural laws, as so brilliantly espoused by Patrick Henry in his 7 Resolves { 1765 } , are the governing ‘rules of the road’ for true leaders.

+ Laws that encourage anything remotely resembling entitlement are those which successful people repel. Earn your stripes by what you do to make yourself better, and then, thereafter, to go out and serve others.

[8]  Invest in yourself.

+ The monies one earns should be paid to ‘You, Inc.” first ahead of anything else. No one can take away wisdom, knowledge, and learned truth(s) from you unlike they can a house, a car, electronics, or sports gear.

+ The poor have big TV’s; the wealthy have big libraries. A generalization? Sure. Are there exceptions? Sure. However, for the clear majority of cases, this holds true. Study spending & investment trends to find out.

[9]  Persevere.

+ Jack Canfield & Colonel Sanders come to mind – both were extremely successful. Yet, each man found rejection after rejection until someone said ‘yes’

+ Adversity quotient is incredibly valuable; in the aforementioned book, ‘Resolved’, it ranks as number 12. What is your IQ x EQ x WQ = AQ ?

+ Failure is simply an event, and not an individual. Failure is a huge part of success. Be sure you know how to reframe & how to learn from each setback.

[10]  Ability to prioritize.

+ Stephen R. Covey taught this crucial success principle the best in his Habit 3.

+ Have you drawn out your entire life and segmented into ‘priorities’, ‘obligations’, and ‘urgencies’?   Or, at least, done this by the day, week, month, quarter, or year?

+ Priorities should align with your mission(s), purpose, and your dreams. They will get you from “A” to “B” fastest of all, while your obligations and the urgencies will act as anchors.

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Hope this post, like all others, has added value to you. Comment if you’ve been especially impacted – always welcome feedback at all times.

And … a huge & heartfelt …

… Thank you to Mr. Alex Nickerson for inspiring this content!  Having met him once in person & seen him another time, his credibility in putting forth this kind of content is clearly reflected in the successes he has realized thus far in his life.

Mar 282013
 
Common Law of Business Balance, Price, Value, & 'You, Inc.'

The Common Law of Business Balance states >

 

It is unwise to pay too much, but it’s worse to pay too little. When you pay too much, you lose a little money; when you pay too little, you sometimes lose everything.

 

In other words, it prohibits paying a little money, and getting a lot in return; it cannot be done without trading one for the other

Additionally, something that is often not taught in the realm of financial literacy ( Resolution 8 & a cornerstone ‘F’ ) is the below – have you personally been taught/heard this?  I hadn’t before I was introduced to world class information not all that long ago >

 

Price is a monetary amount/figure.

Value is the relative, intrinsic worth / desirability to the end user

 

Think of it in these terms – does every dollar ‘spend‘ like every other dollar?  Or, is it not the truth that each dollar you spend is quite unique – especially when you grasp, immerse, and then apply the difference between a “You, Inc.” $ and a “I want it due to advertising/peer pressure/lack of a budget” $ ?

Business, economics, and finances all overlap. They also are each a core part of our day to day lives – we all must be informed, well educated ( v. schooled ), and investment minded men & women in order to become wealthy in mind, spirit, legacy, & the bank account.

Have a fantastic day & blessed Easter to come!

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Thank you & all due credit to Bob Burg for his wisdom & foresight in sharing much of the core of this post’s core content. It’s my privilege to pay it forward here in the blogosphere.

Oct 212012
 

Today, I want to address a topic that can be sensitive to many, especially living in the economic times that we do here in the US, and that is the crucial difference between investment & expense(s).

This post will not go in depth into the textbook definitions, nor will it serve as a step by step guide, however, my goal is to just blow up a few myths and bad, or even obsolete, information re: these, and ideally, help you think deeply when it comes to your money.

First, high high level.  What is an expense?  I define it as something that you exchange your money for that doesn’t offer any long term value, return (ROI), or which grows your wealth or reduces your debt burden.  Let’s briefly cover each of these:

1. Long term value. Many excellent authors/business owners/entrepreneurs have made crystal clear that money is NOT something you simply trade in exchange for a good or object; it is much more – money should create memories, and most definitely, bring something back to you that doesn’t simply last for a day, a week, or a month. What you get back must have value that carries on a least a year, and even better, a decade or more.

2. Return ( ROI ). Rate of return, for the purposes of this post, is simply summed up as —  did/will you receive something of value back, over an adult time frame, for what you spent your money on?  ROI is not necessarily just measured in financial terms (such as if you were able to pay down debt quicker by buying a financial pack to apply principles that you were never taught); it can also be measured intangibly: Did you sign up any new clients in your consulting business due to that seminar on people skills you attended?  Have you been able to get on the career path/track that you wanted after pursuing more credentialist based (professional track) education?

3. Reduction of debt / Growth in wealth. Growing one’s wealth/assets runs inversely to lowering one’s debt(s)/liabilities. And, keep in mind, a mortgaged home is a LIABILITY, not an asset, unless you have rented it out and are receiving recurring rental income. From that perspective, expenses need to be reduced, including paying off consumer debt, and eventually investing in ‘hard’ assets, like bullion metals, later on down the line. Growing one’s wealth requires buying back time, having a systems based model, understanding the power of compounding (of interest, of invested monies, et al.), & delaying expense based gratification until you can truly pay or whatever you want in cash based equivalent(s).

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Now, let’s move on to investments. Investment is not what you may think!  Let’s start w/ understanding that investment in one’s mind most definitely counts just as much as investment in something paper-based ( like stocks, mutual funds, bonds, or REITs ). The vehicle of a 401(k) or its functional equivalent has only been around for 30+ years, yet it seems like it, or the becoming obsolete pension plan gets mentioned most when this word is discussed in the mainstream of society.

Don’t get me wrong:  these are all investments, however, how much stronger is your mental fitness if you just put 10% of your W-2 income into a 401(k)?   Will you be closer to true wealth?  Unlimited time & money choices?   Perhaps a step or two, or ten, yet think bigger and more metaphorical (in depth):  what about directing some of these monies into your mind?   That’s a key threshold to cross when it comes to understanding even better the critical distinction b/w expenses and investment.

Here are some examples of investment now that we’ve set this foundation in place:

1.  Building a library.  Whether its a virtual (read: e-book) library, meaning you invest in an e-reader/tablet & download books online or via app, or the other way, where you buy paperbacks or subscribe to receive them monthly, this is a perfect starter example for someone who wants to invest in the mind.  We’re all worth minimum wage from the neck down; all the great leaders of history, from Napoleon, to Teddy Roosevelt, to Thomas Jefferson — they read. A LOT. Books matter. They expand your horizons, expose you to lessons you can learn from by living someone elses’ experiences, and you can apply what you read to your life immediately.

2.  Audio Learning.  Subscribing to, or buying audio material – whether books, podcast downloads, mp3’s, CDs from seminars – they all count. Audio is an excellent complement to reading, as it engages different areas of  your brain, and rounds out further the investment in your mental fitness.

3. Attending Seminars / Streaming webinars. Association with other climbers, those who are on the success curve of life, and whom understand the critical importance of ‘You, Inc’ investing, know that being around others who are growing from the inside out, who value personal change, will put monies into this category.

4. DVD / web videos ( YouTube ).  Another option as technology continues to evolve is to purchase, subscribe, or click on a link to have vids sent to you to watch. Visual learning on your own time is still another investment vehicle that will pay great dividends on your leadership development/self help journey.

5. The final one I’ll list is a BIG one. I would strongly and unequivocally urge everyone to do this:  Start a business. Own something, an asset that is yours, which will generate income that is not subject to a third party and will allow you to direct monies away from expenses and into the above options I listed.

 

 

 

 

 

 

To put a capper on this post:  I wholeheartedly believe that entrepreneurship and self-directed learning, investment understood in a much different way than what is the “CW” , and outside the realm of pure ‘credentialist’ institutions, is a crucial element to being able to maintain freedom (see my earlier blog posts) & to strengthen your financial standing in our internet/connected/information age world. The industrial age is gone, regardless of what the politicians are saying in this election cycle; the sooner you invest in ‘You, Inc’, and turbo-boost your mental fitness, the better off you will be.

All the very best & God Bless.