Archives for August 2015

The Risk/Optimism Seesaw

August 19, 2015 by Leave a Comment

tip-o-the-morning

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I was putting the final touches on my latest book yesterday. The editor wanted me to include some citations regarding some of the statistics I referenced in the book. One of those statistics related to optimism. The stat was:

70% of the people you run into in life are pessimistic and only 30% are optimistic.

There are a lot of variables that go into the self-made millionaire stew. Optimism is one of the most important variables. So too is a high tolerance for risk, which is only possible when you believe in yourself. The risk I’m talking about is calculated risk. This is very different from reckless risk, the type of risk most failures in life take. Optimism and calculated risk are joined at the hip. Your tolerance for risk will only be as great as your level of optimism. High risk tolerance requires high optimism. Low risk tolerance is caused by low optimism, also known as pessimism. Risk, however, can push you to the limit. When things are not going well, this risk can cause enormous stress. The only thing to make that risk tolerable is optimism. It’s like a seesaw. The level of your optimism balances out the level of calculated risk you are willing to take.

Elon Musk is perhaps the best modern day example of someone who was willing to take enormous calculated risk, putting everything he had on the line. His over the top optimism made that possible. He used it to inspire everyone he came into contact with. The investors, employees, the government, even NASA took risks others would find intolerable. And boy did they all need that over the top optimism. At the end of 2008, Musk and all of his companies were on the verge of outright bankruptcy. His Falcon 1 rocket had failed to reach orbit for the third time in early August, 2008. He had gone through most of his $223 million plus he had gone through most of the hundreds of millions venture capitalists and the government had invested in SpaceX and Tesla. Everything hinged on that fourth flight in September, 28 2008. If it too failed, it was over. Only it didn’t fail. The first privately built rocket made orbit. Musk was able to cobble together enough money to get them through the end of December, 2008. On December 28, 2008 NASA awarded SpaceX with a $1.6 billion contract.

The rest, as they say is history. Today, Musk is estimated to be worth $10 billion. His companies are changing the world. What saved the day for Musk was optimism. He, and the people he surrounded himself with, were infected by his optimism. They were all willing to devote their lives and their money to his cause. Musk made them believe they could change the world. the greater your optimism, the greater your tolerance for risk. Those with the most optimism are willing to take the most risk. High optimism, when combined with a high tolerance for risk, is what turns ordinary people into millionaires and even billionaires.

 

 

Filed Under: Daily Success Tips, Focus & Motivation, Goal Setting

The Pursuit of Any Worthy Dream Must Become Your Main Purpose in Life

August 18, 2015 by Leave a Comment

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Dreams come with baggage. They take time and effort. Sometimes the effort feels like an endless investment. It would be so much easier if there was a light at the end of the tunnel. The light of certainty. Unfortunately, there is no certainty when you are pursuing a dream.

In my research, I found that self-made millionaires were not the brave and confident heroes written about in so many books. They worried about the outcome of all of their efforts and were concerned about all of the money they poured into their dreams. They doubted themselves. But what makes them unique is that, despite so many mistakes, failures and unmet expectations, they kept pursuing their dreams. They just did not quit, despite the anguish.

When they realized success, it was not something that washed over them in one singular event. It was more or less an evolution. Success is only perceived in hindsight. It is typically not something that becomes self evident. There are set backs, which create doubts. Then turning points, followed by major advances which inspire confidence. Then more set backs, and more doubts, then more turning points and then more confidence. Dreams do not come easy. It’s not a linear climb up some ladder. It’s more like climbing monkey bars. Sometimes you feel like you are moving one bar backwards, sometimes you feel you’re moving one bar sideways, other times it feels like you are not moving at all and every now and then you find yourself moving two or three bars upwards.

Because of this inherent uncertainty and the emotional ups and downs, the pursuit of your dream must be for all of the right reasons. Money alone is not a good enough reason. You must see your dream as that thing you will do, irrespective of any financial gain, for the rest of your life. It must become your main purpose in life.

Filed Under: Daily Success Tips, Focus & Motivation, Goal Setting, Professional Development

Good Habits Take the Grind Out of Grit

August 17, 2015 by Leave a Comment

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Grit is just another word for persistence. Persistence, above all else, is the main secret of all success. Never quitting on a dream is the definition of persistence.

But being persistent requires that you grind it out. You must do certain things every day that move you closer to realizing your dreams and your goals. This is where habits come in. Good habits automate the success process. Because they’re automatic, unconscious behaviors and thinking, they take the grind out of the pursuit of success. They make you automatically persistent, without the need to rely on willpower. Automating success by adopting good success habits means you don’t have to grind it out, willing your way forward every day. Habits made success easier because they enable you to grind it out without really feeling like you are. Good habits take the grind out of grit.

Filed Under: Daily Success Tips, Focus & Motivation, Goal Setting, Professional Development

There’s a Zombie Inside All of Us

August 14, 2015 by Leave a Comment

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Do you have any cravings for human flesh? Well, if you do, you better get yourself to a Doctor quick. That’s not the kind of zombie I’m talking about here. I’m talking about the zombie brain that resides inside each one of us. First, let me share some brain facts with you. Every human brain has three parts:

  • Brain Stem
  • Limbic System
  • Neocortex

The conscious parts of our brain, our consciousness, is spread across the following regions of the brain.

  • Temporal Lobes – Neocortex
  • Amygdala – Limbic System
  • Septum – Limbic System
  • Hypothalamus – Limbic System
  • Insular Cortex – Limbic System
  • Singular Gyrus – Limbic System

This represents a small fraction of the brain. The rest of the brain, many of the leading neuroscientists argue, represents our subconscious.

The subconscious parts of our brain are actually running our lives. To a very large extent, our behaviors, thinking and habits are controlled by our subconscious. We are, to a large extent, zombies, controlled by our subconscious.

The good news is that the conscious part of the brain is under our control. It is the command and control center of the brain and can override our subconscious. You’ve probably read about the Buddhist monks who are able to control heart rate, body temperature and other bodily functions normally controlled by the subconscious brain. Well, it goes much deeper than just controlling body function.

By exerting our consciousness we can also control our behavior, thinking and habits. But in order to do so we must become aware of our behavior, thinking and habits. You can’t change what you do not track. By tracking, you can identify which behavior, thinking and habits you’d like to change and then direct the conscious brain to override them. It will takes you anywhere from 18 to 254 days to change your habitual behavior and thinking (University College of London study).

We see many people under the control of their zombie brain every day. These are people who play the victim card and complain about their circumstances in life. They believe they have little or no control over their lives. They blame their parents, society, government, Wall Street, the wealthy and anything else that can justify their circumstances. They do not take responsibility for their lives. It’s not their fault. It’s just the luck of the draw.

That’s too bad. Your circumstances in life are the byproduct of your behavior, thinking and habits. You can change your circumstances by changing your habitual behaviors and thinking. You are the master of your zombie brain. You can make it do whatever you want it to do. You are in complete control of your life. Don’t play the victim card. When you allow your zombie brain to control you, it only leads to misery and unhappiness. The brain can be an incredible master or a very poor servant.

Filed Under: Daily Success Tips, Professional Development

The Most Common Cause of Regret

August 13, 2015 by Leave a Comment

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Unrealized potential is the most common cause of regret. Not living up to your potential is a sin against humanity. When you look at all of the great successes in life, they all have one thing in common – they lived up to their potential as human beings: Elon Musk, Steve Jobs, Warren Buffet, Andrew Carnegie, Michael Jordan, Michelangelo, Einstein, Galileo, Stephen King, John Maxwell, Tony Robbins, Dr. Ben Carson, Arnold Swarzenegger, Leonardo da Vinci. The list goes on. These individuals went all out in life. They pushed the limits of their potential and the world rewarded them. They believed they had unlimited potential and that nothing could stand in their way. The ones who are no longer with us died without any regrets. They tried. They gave it their all.

Don’t let life pass you by without exploring your potential. We are all gifted with unlimited potential. It is up to us to explore the limits of our potential. If we don’t, we live a life filled with regret.

Filed Under: Daily Success Tips, Professional Development

The Secret Leadership Habits of Donald Trump, Elon Musk and Winston Churchill

August 12, 2015 by 1 Comment

Tom Corley boats - cropAccording to most of the political talking heads, Donald Trump should be long gone from the Presidential race. Yet he is growing in popularity. Elon Musk, according to all of the business pundits n 2008, should have been bankrupt. Yet he survived and is now being hailed as the new Steve Jobs. Winston Churchill’s beloved country, who was on the verge of annihilation during the blitzkrieg, refused to surrender and outlasted the onslaught, paving the way for Germany’s defeat. What secret weapon do these individuals possess that enable them to survive in the face of overwhelming adversity? Fearlessness. [Read more…]

Filed Under: Featured Articles, Focus & Motivation

The Words You Use Affect the Way Others Perceive You

August 12, 2015 by Leave a Comment

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I remember my first job in NYC. I was 21 and interning for Bankers Trust right across from World Trade Center Building #1. I was finished with my work day and headed down the two story long series of escalators which delivered all of us down to street level. There were four of these escalators, two that went down and two that went up. While on one of these down escalators I ease dropped on a conversation two bankers were having in front of me. To this day I have no idea what they were talking about. But what I do remember was how impressed I was. They used words like Michelangelo used clay or paints. It bothered me that I did not understand the words they were using.

That summer I decided I was going to learn ten new words a day. So I pulled out the dictionary, took out a binder, some paper and a pencil and began writing down words I didn’t know. I did this every day for about two months. As summer came to a close, I was now the proud owner of 500 new words. And I started to use these words, weaving them into conversation. I remember playing pool in the rathskeller back at college. There was a very pretty girl in the group. She knew some of the guys I regularly played pool with. We were all discussing Poland, which was in the news. They were going through a revolution there. I remember sharing my opinion with the group about this revolution. I test drove some of the new words I learned over the summer.

About an hour later, as I was walking out the rathskeller, the pretty girl accompanied me up the stairs. She never did this before. I confess, my heart was beating like a rabbit. She said to me, “I didn’t realize you were so smart.” We became fast friends after that and had many more conversations. We came very close to dating but I never had the ask a girl out on a date confidence to ask her out. I’m of Irish decent and, at the time, I was working on my eighth year of puberty. I still looked like a man child and felt ugly and very awkward back then.

I kept that word binder, but confess that I lapsed in my devotion to learning new words. When I was finishing up my study on the daily habits of the rich and poor in 2008, I discovered that one of the Rich Habits the millionaires all seemed to have was a daily devotion to learning and self-improvement. So I found my old word binder, dusted it off and renewed my study of words. It has helped me enormously in communicating my research in the books and articles I’ve written as well as in the numerous media interviews I’ve had.

The words we use every day create perceptions. They are like magnets, drawing to us all sorts of people. Rich people had figured that out long before they became rich. The more words you know, the better your ability to communicate what you know. Words create perceptions. If you want to create the perception that you are smart, you must increase your knowledge of words and use them in conversation. Learning new words helps you grow as an individual. They increase your confidence. They transform you.

Start your word binder today. Devote just fifteen minutes a day to increasing your vocabulary. Add five new words a day to your arsenal. People will take notice. Words will elevate you and draw the right people into your inner circle.

Filed Under: Daily Success Tips, Professional Development, Relationship Building, Wealth Creation

Are You Raising Your Child to Embrace Mediocrity?

August 11, 2015 by Leave a Comment

Tom Corley boats - cropAlthough I like to refer to it as my Twenty Question List, the list of questions I asked the rich and poor in my study actually numbered 144. A few of those questions focused on parenting, mentoring, relationships, dreams and goals. Many of the responses to these question had nothing to do with the actual question and took me down unintended paths. The millionaires, in particular, expounded on the importance of why they were pursuing their passion, what they hoped to ultimately achieve in life, the significant of their lives, etc. I felt the millionaires were taking me completely off track. Except they weren’t. What they were all ultimately trying to articulate was the legacy they wanted to leave behind. Their why for doing what they were doing.

I love doing speaking engagements, especially at high schools and colleges. One of the many questions I ask the students is: [Read more…]

Filed Under: Featured Articles

Delayed Gratification vs. Immediate Gratification

August 11, 2015 by 1 Comment

tip-o-the-morning

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It’s so easy to do the easy. It’s so hard to do the hard. The other night I came home from work, hungry, tired and in need of some R&R. Dinner was waiting for me on the counter. There was a cold beer in the refrigerator just screaming out at me. I went upstairs, took off my work clothes and then I saw my sneakers staring at me. Before any of the demon voices in my head started talking, I took my sneakers, put on my shorts and headed downstairs to my basement. I got on my stair master and for the next 40 minutes I sweat. When I was done I walked into the kitchen, heated up my dinner and cracked an ice cold beer. That dinner tasted so good. That beer, so cold and delicious. As I ate and drank, I felt happy.

It’s so easy to give in to temptation. But sacrificing, by delaying gratification until something important gets done first, makes the thing you delayed gratification on infinitely more rewarding. Our lives are the byproduct of our behavior and the choices we make. When we choose the easy, life’s immediate pleasures lose their flavor. When we choose the hard, life’s eventual pleasures are heightened.

Always choose the hard. Hard and Happiness share more in common than a few letters. They are life’s yin and yang.

 

Filed Under: Daily Success Tips, Relationship Building, Wealth Creation

You Are Under My Control

August 10, 2015 by Leave a Comment

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I hate to tell you this, but your life is not under your control. Your behavior, your thinking, the choices and decisions you make, what you spend your money on, what you eat and drink, who you associate with, the T.V. shows you watch, the Internet sites you visit and so much more. Your life as you know it, if you’re like most, is one big zombie life.

We are all being bombarded, every day, with outside influences:  T.V ads, Internet pop ups, tweets, text messages, newspapers, the books you read and the habits you’ve adopted all influence your behavior and thinking. And there is only one way to regain control of your life.

AWARENESS. If you want to take control of your life it starts with AWARENESS. You must become aware of those things that are influencing your thinking and behavior. Here’s a process to help you do just that. Take out 7 pieces of paper. On each piece of paper write the following heading:

  • Sheet #1 – My Daily Habits
  • Sheet #2 – T.V. Shows I Watched
  • Sheet #3 – Internet Sites I Visited
  • Sheet #4 – Tweets/Social Media Messages I Read
  • Sheet #5 – Topics I Read
  • Sheet #6 – Topics of Conversation I Had With Others
  • Sheet #7 – Ads I Viewed

On each separate sheet of paper make 7 columns, one for each day of the week. Now the fun begins. Every day write down and track each of your habits, T.V. Shows, Internet Sites, Tweets/Social Media Messages, Reading Topics, Conversation Topics and Ads Viewed. You can customize your headings on each sheet or add sheets to include other categories you feel are having an outside influence on your behavior and thinking (i.e. radio, movies, podcasts, webinars, talking on the cell phone, etc.). The purpose of this exercise is to identify those things that are influencing your behavior and thinking.

By the end of the week you will have a comprehensive list of most of the things that influence your behavior and thinking. Once you know what is influencing you, only then can you take control of your life by identifying and then eliminating those things that are having a negative influence on your behavior. Put a Negative sign “-” next to each item that you believe is negatively influencing your behavior and thinking. Change is only possible with AWARENESS. Once you become aware of those things that are negatively influencing your behavior and thinking, you can eliminate them from your daily life.

 

Filed Under: Daily Success Tips, Relationship Building, Wealth Creation
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