In my Rich Habits study I discovered that your beliefs dictate your circumstances in life. Those who are wealthy have different beliefs than those who are poor or middle-class.

Beliefs = the acceptance of something without any proof to back up what we accept as fact.

Beliefs = unconscious programming.

Beliefs are primarily inherited conclusions. We adopt the beliefs of our parents, family, culture and environment. 

The wealthy adopt certain beliefs that promote success:

• I must read to learn.
• I am responsible for the circumstances of my life.
• Money and wealth are good.
• There is an abundance of money and wealth to go around.
• Everyone has the ability to become wealthy.
• I can solve any problem.
• I can overcome any obstacle.
• I create my own luck.
• Opportunities are everywhere.
• Opportunity does not knock. I have to go out and find it and take action.
• I must earn respect.
• Failure is good.
• Failure is a learning experience.
• Failure is the stepping stone to success.
• I can accomplish anything I put my mind to.
• Time is the most valuable resource. I must make efficient use of my time. Wasting it is a crime.
• Birds of a feather flock together. I can only succeed if I surround myself with other success-minded people.
• Dreams and goals are the rungs on the ladder of success.
• If I help others succeed, I will succeed.
• If I improve the lives of others, I will improve my life.
• Always exceed the expectations of others.
• I am in control of my thoughts and emotions.
• Never quit on a dream.
• Success takes time.
• I must save more than I earn and invest my savings in my dreams and goals.
• I am amazing.

Anders Ericsson is the world expert on experts. What he found in his research was that experts practice deliberately every day. The Japanese call this Kaizen – continuous improvement.

Experts engage in deliberate practice for at least ten years in order to become the best at what they do.

Deliberate practice requires that you set a stretch goal, one not easily achieved, and then practice every day until you reach that goal.

It might be running a mile in less than 4 minutes.

It might be becoming a best-selling author.

It might be becoming a CPA, CFP or a Doctor.

Each stretch goal sets your destination. Deliberate practice helps you create daily habit goals that help achieve your stretch goals, moving you closer to your destination.

Deliberate practice also requires feedback. And this is what separates the experts from the rest of the field. Experts practice and then seek feedback from others. Feedback lets you know what you did wrong, allowing you to tweek what you’re doing, refining your practice, in order to perfect your skills.

I’ve been using something I call the Binder System since I discovered it during my Rich Habits Study. The Binder System helps you in your quest for success. Each binder is a tool in your success tool belt.

Fact Binder

In my research, I found that self-made millionaires were dedicated to daily growth and daily self-improvement. Each day, they sought to increase their knowledge through reading, listening to audio books, listening to podcasts, watching educational video, attending seminars, webinars, tele-seminars, participating in formal or informal mastermind groups and asking questions of others to gain more insight and expertise. This enabled them to grow their knowledge each day to help them evolve into the person they needed to become in order to realize success.

While reading is important, retaining important information uncovered in your reading is critical to learning new facts and information. One strategy to do this is the Fact Binder. In your Fact Binder create various topic sections that are meaningful to you. Each day, after reading, add any new facts or information to your Fact Binder. You can even add a section titled: “New Words” where you add any new words you come across in your reading. Writing down what you read has a way of reinforcing what you just read. Abraham Lincoln would write things down 3 times in order to commit them to memory. The physical act of writing somehow acts to create a new neural pathway that allows the new facts or information to stick. Once a week go over the new information you added. That will help reinforce the learning.

Mistake Binder

The Mistake Binder is a running list of every mistake you make in life. Each mistake is documented on one page. You want to document four things on that one page: WHAT went wrong WHY did it go wrong HOW to avoid repeating it in the future LESSON you learned The goal is to get into the habit of filling your Mistake Binder with page after page of mistakes that you make. Then spend a few minutes every other week reviewing your Mistake Binder. This helps make the learning stick and will also keep the mistakes in working memory, acting like a radar system, alerting them when you are about to repeat a mistake. The Mistake Binder will take the taboo out of making mistakes and will change your negative perception regarding mistakes. You’ll soon find yourself embracing your mistakes and the lessons they teach.

Book Binder

This is a binder where, in 1-2 pages, you summarize the key points of every book you read. This binder gives you immediate access to these key points at any time.

Vision Binder

The Vision Binder includes a picture of every dream that you one day hope to realize. It gives you instant access to each dream, allowing you to easily document and review each dream. By periodically  reviewing each dream, you help consolidate it into long-term memory, allowing your subconscious to go to work behind the scenes to help you make your dream a reality.

Goal Binder

In this binder you list every one of the goals you want to accomplish in order to help you realize each one of your dreams. In my Goal Binder I put at the top of each page one dream. Then, on the same page, I list all of the goals I will need to achieve in order for that dream to be realized. In the Goal Binder each dream is your destination and the goals are your GPS – how you get there.

In my research on the habits of self-made millionaires I discovered two types of habits that these millionaires used to help them achieve success: Temporary vs. Long-Term Habits.

Temporary Habits

With Temporary Habits you develop daily habits that make it possible for you to accomplish a short-term goal.

Developing study habits to help you obtain a degree, license or certification is an example. Another example might be writing a book, completing a project, manufacturing a prototype product, or saving money for a year for a down payment on a home.

Temporary Habits don’t necessarily stick with you for life. They last for as long as you need them to last.

 Long-Term Habits

These are habits that stick with you for life. They help build the infrastructure for a better life. Examples include reading every day to learn, practicing a skill every day, exercising daily to improve your health, eating healthy every day, daily habits that promote a positive mental attitude (i.e. expressing gratitude every day or meditating).

Long-Term habits are like the foundation of a building. In the context of a life, they represent habits that lay the foundation for a good, healthy, happy and successful life.

When you do anything that is challenging, when you are learning something new, when you are developing a new skill or when you meet new people, you will feel discomfort.

Discomfort is a minor form of stress and a little stress is a good thing, it turns out.

The latest research on stress indicates that minor stress elevates your ability to focus.

It sharpens your cognitive abilities by releasing certain hormones and neurotransmitters that tap into all three parts of the brain: the neocortex, limbic system and the brain stem.

This is important because, well three parts of the brain are better than one, obviously. But more to the point, when our limbic and brain stem are called into action, the power of emotions charges in. And emotions are the key to long-term potentiation (long-term memory).

Emotions make learning stick.

So, embrace discomfort. Welcome it. Seek out situations in life that put you in a state of discomfort. Discomfort causes change and growth. And growth is the hallmark of all successful individuals.