Embrace Disgust

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When Og Mandino, author of The Greatest Salesman in the World, was at his lowest, he used what little money he had to purchase a gun so he could end his life. Thankfully, he could not pull the trigger. But, that low point in his life, that disgust at being homeless and having lost his family to alcoholism, forced him to reevaluate and change his life.

Mandino eventually did turn his life around. He took his disgust and used it to transform himself into one of the most successful inspirational self-help authors in the world. His books and his wisdom live on, long after his death.

Most do not have to fall as low as Og Mandino. But many, at some point in their lives, experience disgust at the way their life is going. Some bury their disgust in alcohol, drugs or food.

Others, however, take a different path. They use disgust as a springboard for change.

Disgust is a byproduct of human evolution. Its intended purpose is to agitate us in order to force us to change the way we are doing things. Without disgust, humanity would not have achieved so much.

If you are disgusted with your life, that’s life way of prodding you to change what you are doing. You are in good company if you are disgusted with your life. Many successful people began their march towards success when they became disgusted with their life. Disgust, when used as life intended, is like jet fuel. It can lift you to heights you only dreamed of.

Will you use disgust as a springboard for growth and change?

Never Let Doubt Stop You

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Self-made millionaires swim in a sea of doubt.

In my interviews with these extraordinary individuals, I was surprised to learn that while they were on their journey towards success, they were filled with doubt.

What human being wouldn’t? Every day they faced challenges, had to navigate obstacles, made copious mistakes and generally felt like they were pushing a big ball up a hill. But they never quit because they believed in their mission. They believed they would ultimately succeed, despite swimming in a sea of doubt. How did they do it?

Self-made millionaires relentlessly seek to improve, to get better and to grow into the person they need to become in order for success to visit them. They are able to overcome their doubts by embracing certain success habits:

  • Daily Reading to Learn
  • Seeking Out Mentors
  • Daily Practice
  • Learning From Their Mistakes
  • Getting up Early and Putting in the Hours
  • Focusing on Improving Their Strengths
  • Finding Success-Minded Partners
  • Surrounding Themselves With Optimists
  • Avoiding Pessimists
  • Never Quitting on Their Dreams and Goals

Success is hard. It requires almost superhuman effort. You will be filled with doubts; doubts that shadow your every move. But doubt does not stand a chance when you are filled with passion and a clear vision of what you desire.

Rich Habits Poor Habits Episode 18 | Fearless habits of Entrepreneurs

What is an entrepreneur? risk_decision_uncertain_fear_1000px

On the surface these are wealthy and successful people – but there’s much more to them than that.

Entrepreneurs posses beliefs that are a great part of their success – they take risks and they are fearless.

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

In Tom Corley’s five-year Rich Habits study of 233 rich people and 128 poor people he discovered that your beliefs dictate your circumstances in life.

Those who are wealthy have different beliefs than those who are poor or stuck in the middle class.

We adopt the beliefs our parent, family, mentors, culture, and environment.

Most who were raised in poverty inherited limiting beliefs that hold them back in life.

Those who are able to rise from poverty and become wealthy found mentors who possessed success beliefs or employed certain strategies that enabled them to remove their limiting beliefs and implant success beliefs, effectively re-programming their entire belief system.

In this week’s video we discuss 5 key habits of Entrepreneurs:

These include:

  1. Prepare Educated and calculated risks
  2. Pivoting according to the situation
  3. Keeping eye on the ball -focusing on the dreams
  4. Surrounding themselves with successful people
  5. Expecting failure

You can catch up with past episodes of this weekly webcast here Rich Habit, Poor Habits – Tom Corley & Michael Yardney

You may also be interested in viewing:

RICH HABITS POOR HABITS EPISODE 17 | POOR BELIEFS PART 2

RICH HABITS POOR HABITS EPISODE 16 | POOR BELIEFS PART 1

RICH HABITS POOR HABITS EPISODE 15 | RICH BELIEFS PART 8

RICH HABITS POOR HABITS EPISODE 14 | RICH BELIEFS PART 7

 

 

Self-Made Millionaires Are Truly Superhuman

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Human being are hardwired to be followers. When we don’t do as others around us are doing, it creates stress and anxiety. This desire to follow the herd is a byproduct of human evolution.

During the early part of our human existence, we quickly discovered that when we were part of the herd, it was harder for predators to attack. The Herd Doctrine ensured the very survival of our species. We so desire to blend in, to acclimate to society, to be a part of the herd, that we will do almost anything to avoid standing out in a crowd. It’s not theory. It’s science (http://www.nature.com/srep/2013/131009/srep02905/full/srep02905.html). Many years ago Candid Camera decided to test this science in their famous Elevator Prank (http://www.maniacworld.com/peer-pressure-on-the-elevator.html). As funny as that Candid Camera prank was, it highlighted the lengths people will go to be part of the herd.

In the U.S., we have a big herd – approximately 326 million. You can further break our U.S. herd down into various income strata (source Census Data 2015):

  • Poverty or Near Poverty Herd – Approximately 84 million people
  • Middle Class Herd – Approximately 215 million people
  • Non-Millionaire High Income Herd – Approximately 16 million people
  • Millionaire Herd – Approximately 11 million people

Most people stay in the herd they started out in for most of their lives. So do their children and their grandchildren and so on. Why is that?

While this Herd Doctrine helped humans to survive, it is also the reason why so many wallow in mediocrity. When you are doing what everyone else in your herd is doing, you will only do as well as the other members in your herd. Your financial well-being will mirror the herd’s financial well-being. Your income, the house you live in, the car you drive, the clothes you wear and all of the stuff you own will be roughly the same as every other member of your particular herd.

The only way to improve your financial life is to escape your herd. You must defy your herd by separating yourself from it in order to achieve success in life. And that’s not easy. In my book, Change Your Habits Change Your Life, I share several stories of self-made millionaires who were able to break free of their poverty or middle-class herds and go on to achieve enormous financial success in life.

Well-meaning family, friends and colleagues try to dissuade anyone pursuing anything that other members of the herd are not doing. This includes big goals or life dreams. They will tell you: “the risk is too great”, “what if you fail?”, “you will jeopardize your career”, “you could go bankrupt”, “are you sure you’re not making a mistake?”. This onslaught of doom and gloom forces most to stop in their tracks and return back into the herd.

Depending on the study, 76% or more of the wealthy are self-made – meaning they started out either poor or in the middle class. There aren’t many of them, however. Only 2-5% of the poor or middle-class are able to break free from their poverty or middle-class herds and become rich.

Separating yourself from your herd requires almost superhuman effort. This is why self-made millionaires are truly exceptional individuals. Their path towards success is a very lonely one. They must defy everyone they know inside their herd – their family, friends, neighbors, and other individuals – in order to break free from their herd prison. Not at all an easy thing to do.

So, if you are considering pursuing a big goal or life dream, you must, at some point, confront and overcome the well-intentioned members of your herd who will try to dissuade you. It won’t be easy. Your evolutionary conditioning and the evolutionary conditioning of those inside your herd will fight you every step of the way. But boy is it worth the fight.

When you defy the Herd Doctrine and escape your herd, enormous financial rewards, personal satisfaction, joy and happiness await you at the end of your journey.

What Does Pursuing Success Really Mean?

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In order to truly pursue success, you must accurately define what success you are pursuing and when. You must have a clear vision of the dream you want to realize and then take action.

When I was just starting out in my career as an accountant, success to me meant becoming a Certified Public Accountant (CPA). So, for two years, I studied and kept taking the CPA exam until I passed. When I received notification that I had finally passed the exam, I felt like a huge success.

Once I got my CPA license, I decided to go to graduate school to get my Masters in Taxation. Now, success to me meant getting that Masters Degree. When I completed my last course and received my Masters Degree in Taxation, I felt successful.

One of my most important goals in life was to get all three of my children through college. Towards this end, I saved as much money as I could every month and pursued additional streams of income. I obsessed over this goal for 15 years. In 2015, my last child graduated from college. In my mind I felt like a major success.

In 2009, I decided I wanted to write a book. In took 18 months for my first book to get published. When I held that book in my hand, I felt like a huge success.

After that first book, my definition of success changed. I decided I wanted to become one of the most successful self-help authors/experts in the world. I am still pursuing this success.

You see, your definition of success changes during your lifetime. It’s not necessarily fixed in stone. Dreams change as we get on with life. And that’s ok. The key is to see each dream through – to never quit until you realize the dream.

That’s what the successful, self-made millionaires in my Rich Habits study did. They pursued success until they realized each one of their dreams. For some it took longer than for others. But the one common denominator they all shared is: they pursued a dream or big goal and did not quit until they realized success.

Dreams provide the vision, action makes those dreams become reality. Success is the realization of each one of your dreams.

The Power of Pivoting

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We lionize successful entrepreneurs such as Steve Jobs, Elon Musk, Bill Gates, Henry Ford and Thomas Edison. They inspire and motivate us to pursue greatness. We study them in order to learn their secrets to success.

When we peel the onion to their success common factors such as pursuing a dream, having a clear vision, working long hours, persistence, passion and focus often reveal themselves.

But there’s another lesser-known factor that gets very little attention – the power of the pivot.

Successful entrepreneurs learn how to pivot – to shift gears, change direction and alter their course or the path they take in order to achieve success. This may be the real secret to their success.

A typical airplane flight is off course 90% of the time during its flight. Pilots and the onboard computer systems continuously focus on the end, the destination, and make constant course corrections during the flight in order to arrive at the destination.

Successful entrepreneurs are not different. They make constant course corrections during their success journey in the pursuit of their dreams and goals. When their actions do not produce the results they desire, they pivot. When the people they work with are unable to help move them forward, they find other people. When a product or service fails to deliver, they tweak that product or service until it sells. They constantly alter what they are doing, find another route and then take that route. They do this over and over again until they achieve their goals and realize their dreams.

 

 

Raising Money Smart Kids Just Isn’t a Priority at Home or in School

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When I travel the country speaking to high school and college students about exactly what they need to do to become financially successful in life, I always begin my presentation by asking three questions:

“How many want to be financially successful in life?”

“How many think they will be financially successful in life?”

Almost every time I ask the first two questions every hand rises in the air. Then I ask the magic third question:

“How many have taken a course on how to be financially successful in life?”

Not one hand rises in the air, ever. Clearly every student wants to be successful and thinks they will be successful but none have been taught by their parents or their school system how to be financially successful in life. Not only are there no courses on basic financial success principles but there are no structured courses teaching basic financial literacy. We are raising our children to be financially illiterate and to fail in life.

Is it any wonder that most Americans live paycheck to paycheck? That most Americans accumulate more debt than assets? That many Americans lose their homes when they lose their job? Is it any wonder that most Americans cannot afford college for their children and that student loan debt is now the largest type of consumer debt?

Parents are often the only shot any of us have at having financial success mentors in life. Parents are responsible for laying the foundation for financial success with their kids. They need to be financial success mentors to their kids.

When parents mentor their kids for financial success, they give their kids a competitive advantage. Why? Because most parents don’t teach their children about money. By the time their kids become adults, and figure out what to do and what not to do, they are already behind the eight ball.

Parents, therefore are the key to the financial success of their children. In my book Rich Kids, I share many mentoring strategies that help parents in raising their kids to succeed in life financially. Here are a few of those strategies: [Read more…]

If the Rich Read Every Day Why Aren’t You Reading?

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One of the stats in my Rich Habits research that stopped me in my tracks was this one:

88% of the rich read 30 minutes or more every day for self-education

I was doing a podcast interview yesterday. The host shared a story about a self-made millionaire he had interviewed.  At age 20, long before the millionaire became rich, he had attended a seminar. At the seminar there was a self-help speaker. The speaker told the audience that if you wanted to double your income in one year, start reading for self-improvement every day. So, the very next day, the 20 year old started reading everything he could to help him improve his life. He read self-help books. biographies of successful people and other success-type books. Within one year, the now 21 year old had doubled his income. He continued this Rich Habit for the rest of his life and eventually became a self-made millionaire.

One Rich Habit was all it took.

Reading to learn and to improve will introduce you to new information and new knowledge. It will open your eyes to the opportunities that are all around you. Reading is a common denominator among all successful people.

If rich, successful people read every day for self-improvement, why aren’t you reading?

Creative Genius

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The harder I work the more creative I seem to become. The more I write, the more ideas for new articles come bubbling up from my subconscious. It’s not just me, it’s the nature of creativity.

Creative geniuses like Albert Einstein, Thomas Edison or Nicola Tesla all had one thing in common – their passion for what they did enabled them to work long hours, day after day, year after year. They were grinding it out every day. Idea after idea, thrown away like yesterday’s trash, until that one big idea, that one magnificent spark of genius, seemed to manifest itself out of thin air, transforming ordinary individuals into iconic geniuses.

That’s the nature of genius. It visits the workhorse, typically when the workhorse momentarily puts down their work tools. Eureka-type ideas burst forth while riding a train (Einstein’s General Theory of Relativity), during a nap (James Watson’s structure of DNA and Dmitry Mendeleyev’s Periodic Table), or while taking a bath (Archimedes).

Genius requires consistent hard work. The harder you work the more creative you become. You must relentlessly practice your craft over and over again. Only then will the spark of genius burst forth.

Rich Habits, Poor Habits Episode 34 | Positive mind, Abundant life

It is impossible to become rich with a negative mindset.Confused mind think thought

Negativity puts the brakes on success and wealth accumulation.

It acts like an anchor, dragging you down into the abyss of poverty and poor health.

It is virtually impossible to become wealthy without a positive mental outlook.

Why?

Tom Corley accumulated a treasure trove of studies on the benefits of positivity.

Let’s take a look at a few of those studies:

Positivity Strengthens Your Immune System

Researchers at Harvard Health found that having an optimistic attitude reduces blood pressure, prevents heart disease and increases your immune system’s ability to fight off diseases, viruses and parasites.

As one self-made millionaire from my study told me, “you can’t make money from a hospital bed”.

Good health is critical to success because without it, success is impossible.

So, good health at least gives you the ability to pursue wealth.

Positivity Increases Focus and Risk Tolerance 

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B. L. Fredrickson (1998/2001 Broaden and Build Theory) found that positive emotions increase your concentration abilities and increase your risk tolerance.

According to my Rich Habits study data, focus and risk tolerance were two common traits all self-made millionaires had.

The self-made millionaires in my study had a laser-like focus.

They were able to focus on their dreams and goals for years and even decades.

Also, these same millionaires pursued dreams and goals that required that they take enormous financial risks.

If you have a negative mindset you will avoid risk because you believe you will fail.

Those with a  positive mindset are able to take risks because they believe they will succeed.

Positivity increases Your Earnings

Diener, Nickerson, Lucas and Sandvik (2002) found that those with a positive mindset had higher incomes than those with a negative mindset.

People want to do business with people they like and those with an optimistic mindset are more likable.

Positivity Doubles Brain Powerlight bulb

In one study on negativity, two neurologists found that when you have a negative mindset your prefrontal cortex is not functioning properly.

The prefrontal cortex is the seat of decision making and creativity.

When you are negative, you literally shut down half of your brain.

Positivity Increases Life Span

Moskowitz (2003), Ostir, Markides, Black and Goodwin (2000) found that those with a positive mindset lived longer than those with a negative mindset.

Positivity Increases Life Span

Union College Psychlogy Professors Joshua Hart and Christopher Chabris found that success was correlated to individuals with a positive mindset.