Archives for December 2017

Make Your Brain Smile

tip-o-the-morning

Tom Corley boats - cropIn my book, Change Your Habits Change Your Life, I spent three years studying the brain. The reason?

Habits are dictated by your brain.

When a behavior, thought or emotion is repeated enough times, neurons (brain cells) inside your brain begin to talk to each other. This repetitive communication is known as a synapse.

In a real sense, a newly created synapse is a lot like paving a new highway.

With enough repetition, a small golf ball sized mass of brain cells inside the limbic system, called the basal ganglia, becomes aware of this new highway or synapse, and stretches its long tentacles (dendrites) into the area around the synapse. This connects the basal ganglia to the synapse, essentially imprinting the synapse as a habit.

What I discovered in my research for my book is that the health of your brain impacts how efficiently your brain forges and maintains a habit.

There are certain things you can do that help to improve brain health, brain performance and, thus, make habit change much easier and more permanent:

  • Coffee – This is really about caffeine. 100 mg of caffeine a day, about one cup of coffee, helps to suppress a brain chemical known as adenosine. When enough adenosine builds up inside the brain, this triggers the desire to sleep. Caffeine, by suppressing adenosine, helps maintain the flow of dopamine and glutamate, brain chemicals that keep you motivated, focused and alert.
  • Tumeric – Tumeric contains curcumin. Curcumin is a spice that has anti-inflammatory properties, which help brain cells to remove free radicals (waste inside every cell).
  • Cinnamon – Eating 1/2 to 1 teaspoon of cinnamon a day can slow the breakdown of sugar, helping to maintain a steady flow of glucose (brain fuel) into brain cells. Cinnamon is also an antioxidant which helps to remove those nasty free radicals from inside every brain cell.
  • Fruit or Fruit Juice – Every cell in the body, including brain cells, requires energy in order to function. The most common source of energy for cells is glucose. Fruits and fruit juice contain glucose and can provide a quick source of energy for brain cells to function optimally.

Eating right and consuming certain nutrients, helps improve brain health, making it easier for brain cells to forge new habits.

Go For a Treasure Hunt

tip-o-the-morning

Tom Corley boats - crop

When my three kids were young, Easter was a magical day. My wife and I would hide dozens of plastic Easter eggs around the yard.

What made the Easter Egg Hunt so magical? My wife and I would hide dollar bills in a few of those Easter eggs.

Our kids would run around the yard, scrambling to find the treasure inside the Easter eggs. During this treasure hunt, our kids would be smiling, laughing and, well, happy.

You see, the magic was not in finding the treasure. The magic was in the hunt.

This is why pursuing dreams and the goals behind those dreams is so important to living a happy, fulfilled life.

Pursuing a dream is a lot like going on a treasure hunt. It’s the journey that makes life worth living. The pursuit of each dream is a Treasure Hunt.

Begin your Treasure Hunt today. Pursue your dreams. That is where you will find happiness and fulfillment.

Everyone Has a Brand

tip-o-the-morning

Tom Corley boats - crop

One of my gym friends, Bruce, was telling me about one of his employees while we were working out.

“He’s such a gentleman,” Bruce said.

“What do you mean by gentleman, Bruce?” I asked.

“In all of the thirty years he’s worked for me, not once have I ever heard him curse or utter a bad word about anyone.”

Everyone has a brand. You may not be aware of it, but your brand is a neon billboard that tells others who you are.

What you do and say, on a daily basis, creates your brand.

  • “He’s a gentleman.”
  • “She’s very smart.”
  • “He’s a hard worker.”
  • “That woman is the nicest person you’ll ever meet.”
  • “He’d give you the shirt off his back.”
  • “She’s a fair weather friend.”
  • “The best Accountant I’ve ever had.”

Your brand follows you wherever you go and pays visits to family, friends, co-workers and acquaintances, when you are not even in their presence.

What would you like your brand to be?

I know what I want my brand to be for next year. I want to be a gentleman.

So, my big goal for next year is go an entire year without cursing.

How about you? What would you like your brand to be next year?

Find one positive, brand-changing attribute, and make that your goal for next year. Pick just one. Make it simple. Eventually, it will become a daily habit that will broadcast who you are to the entire world.

Rich Habits Poor Habits Episode 51 | Raising Young Adult Children to be Financial Juggernauts

According to a study by Brown University habit study by Dr. Pressman, we pick up most of our habits from our parents.

If parents are bad at managing money, their kids will be bad at managing money.

When you’re bad at managing money it has a tendency to disappear.

That means no savings, no retirement assets, runaway debt and a life filled with financial worries.

No parent wants their kids to grow up to struggle financially as adults.

Yet, since most people do struggle financially, it’s clear parents have been and are failing to be financial success mentors to their kids.

Well, let’s put an end to this generational parenting malpractice.

In Tom Corley’s award winning and bestselling book Rich Kids, he shares many parent mentoring success strategies that help parents in raising their kids to succeed in life financially.

Here are a few of those strategies: parent money family

  •  Teach Savings – Saving is a habit that must be forged right out of the gate, with your child’s first adult job. Advice your adult child to start small, say 5% of net income. As their income rises increase their savings rate to 10%. The ultimate goal should be saving 20% of net income by the time they are age 30.
  • Teach Investing – Parents can help their young adult children by directing them to sound financial advisors who will help them safely invest their savings. Personally, I’m fond of CFP’s, since they are experts in developing financial plans. They also have to pass a rigorous exam and abide by certain, not so easy to follow rules, in order to keep their license. child-children-money-learn-teach-rich-poor-lesson-family-budget
  • Teach Frugality – Don’t mistake being frugal with being cheap. They are two very different things. Being frugal requires three things:
  •     * Awareness – Being aware of how you spend your money.
  •     * Quality – Spending your money on quality products and services and
  •     * Bargain Shopping – Spending the least amount possible, by shopping around for the lowest price.
  • Teach Delayed Gratification – As your young adult child’s income rises make sure they do not fall into the very common trap called Lifestyle Creep.

Lifestyle Creep is by definition: increasing your standard of living in order to match your increased income.

It’s a common Poor Habit among many who suddenly find themselves making more money. business-money-pink-coins21-1

The Rich Habit is to forgo the desire to spend your money today and, instead, sock it away into savings and investments that grow in value and provide financial resources that can be used in the future to maintain your standard of living.

That Rich Habit is called Delayed Gratification – putting off something you want today for something you want tomorrow – financial independence.

Now go out there and start mentoring.

YOU MAY ALSO BE INTERESTED IN READING:

RICH HABITS POOR HABITS EPISODE 51 | RICH HABITS PART 3

RICH HABITS POOR HABITS EPISODE 50 | RICH HABITS PART 2

RICH HABITS POOR HABITS EPISODE 49 | RICH HABITS PART 1

RICH HABITS POOR HABITS EPISODE 48 | BEING RICH IS REALLY ABOUT TWO THINGS PART 2

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Form a Cabinet

tip-o-the-morning

Tom Corley boats - crop

Theodore Roosevelt organized a Tennis Cabinet. This group of tennis players included certain friends, diplomats and power brokers. They would regularly meet to play tennis and discuss important world and national issues. Roosevelt relied on them for their insight and wisdom, helping him to form decisions that impacted the lives of millions.

Benjamin Franklin loved organizing groups for very specific purposes: to create the first library, road improvements, writing, etc. The Leather Apron Club’s purpose was to debate questions of morals, politics, and natural philosophy, and to exchange knowledge of business affairs. He formed the Junto, a social and self-improvement study group for young men that met every Friday to debate morality, philosophy and other related topics. This elite group of intellectuals were at the core of Philadelphia politics and cultural life for some time, helping Franklin to form a new republic that would change the world.

Henry Ford organized a group he called The Vagabonds. This group included Ford, Thomas Edison, Harvey Firestone and John Burroughs. Every summer they would take road trips to camp or hike. During those road trips they would discuss and debate various business, scientific and technological issues facing them.

History is replete with many famous, successful figures who organized groups which became a springboard for creative thought, motivation, inspiration, insight and focused action.

Organize your own group of positive, upbeat, success-minded individuals to help advise, inspire and motivate you in pursuing and achieving your goals and dreams. It only takes two to form a group.

Who will be in your group?

The Perfect Year

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Tom Corley boats - crop

As one year comes to a close, it’s a good time to ponder and ask yourself some questions:

  • In an ideal world, what would your upcoming year look like?
  • What do you wish for in the new year?
  • What dreams would you like to come true?
  • What goals would you like to pursue and achieve?
  • What new knowledge would you gain?
  • What new skills would you acquire?
  • How much money would you make?
  • How much money would you save?
  • How much would you weigh?
  • How many miles would you be able to run?
  • How fit would your muscles be?
  • What new, powerful relationships would you like to forge?
  • What exotic places would you travel to?
  • What new job would you have?
  • What promotion would you receive?
  • What fun things would you do?
  • How much time would you spend with your family?
  • What would your ideal, perfect day look like in the new year?

The answers to these questions form the roadmap for your life in the upcoming year.

Every desired destination requires a roadmap.

Seeing What Others Can’t See

tip-o-the-morning

Tom Corley boats - crop

I want you to imagine you are standing alone. All around you, you see only trees. There are a hundred trees to you left, right, in front of you and behind you. To the right, you notice a hill. You begin to climb that hill. As you get higher on your hill, you notice that there are more and more trees. When you get to the top of the hill, you realize the whole time, you’ve been standing in a forest, covered with tens of thousands of trees.

The hill and the forest are metaphors. The hill represents daily self-improvement. The forest, opportunities.

Through formal education, self-education and/or deliberate practice, you become more expert in your career, profession, industry or craft.

As you become more expert through self-improvement, as you climb your hill, you gain insight. The more insight you gain, the higher you ascend on your hill, the more opportunities you see.

Once you reach the level of expert, you realize all along that there were a forest of opportunities standing right in front of you.

Those opportunities, however, were invisible to you until you gained knowledge and expertise.

One of the hallmarks of successful entrepreneurs and top leaders is the ability to see what others cannot see.

They look out into the great ether and they see Uber, the paperclip, future Tom Brady’s, colonies on mars, vertical integration, Chinese manufacturing, revolutionary processes, etc.

Opportunities reveal themselves to those who are prepared to see them. Gaining knowledge and becoming expert in your craft through daily practice, give you insight and enable you to see what is invisible to everyone else.

Unraveling the Gordian Knot of Income Inequality

Tom Corley boats - crop

Income Inequality is hot potato issue.

Certain politicians, who see themselves standing up for the poor, cry in outrage over the unfairness of income inequality.

The clarion call of these politicians almost always involves some scheme to redistribute the income and wealth from the have’s, to the have-not’s.

The problem with this scheme is that, in countries that embrace Capitalism, like America, it fails 100% of the time.

Why?

Income inequality is a symptom of a disease that income redistribution can not cure.

That disease is Generational Poor Habits.

Generational Poor Habits are bad habits that the poor learn from their parents, culture, neighborhood and/or friends. These habits drag them down in life, causing them to fail and struggle financially. They can even cause poor health and chronic disability.

Generational Habits can also be Rich Habits – learned good habits which lift you up in life. These habits can help you to become successful in your business or career. They can also help you to become frugal, thrifty and financially secure. Lastly, Generational Rich Habits can help improve your health by inculcating in you the daily exercise habit or healthy eating habit.

With regard to poverty, there are obviously outlier causes that habit change can never cure:

  • Financial catastrophe caused by exorbitant medical costs of family members due to cancer or some chronic health disorder outside one’s control.
  • Certain physical or mental disabilities that make it impossible to work or earn income.
  • Random bad luck that negatively impacts one’s ability to earn income – A fire that burns down a business, a hurricane, flood or earthquake that destroys a community, etc.
  • The death of an income earner.
  • Other circumstances for which a poor person has no control over.

Excepting these outlier causes, the vast majority of poor people are poor and will remain poor, due to their Poor Habits.

No political solution can cure income inequality unless that political solution forces habit change and reduces or eliminates Poor Habits.

The permanent solution to income inequality, therefore, is to teach poor people habits that will help to end their poverty and create wealth. These Rich Habits, put the poor on equal footing with the wealthy.

If you were to take a typical poor person and reprogram them with Rich Habits, within ten years they would no longer be poor. They will have risen to the middle-class.

After another ten years, that same poor person would become financially well-off.

After yet another ten years, that same poor person would become rich.

Wealth and poverty are two different processes producing two different results. At the heart of either process are habits.

With respect to wealth and poverty, Rich Habits put you on autopilot for wealth. Poor Habits put you on autopilot for poverty.

Silence the Critics

tip-o-the-morning

Tom Corley boats - crop

Everyone has critics. Especially when you are starting out in life.

There are Good Critics – Critics who lift you up and inspire you. Good Critics offer constructive advice and mentoring.

There are Bad Critics – Critics who tear you down and demotivate you. Bad Critics just criticize. They don’t help steer you in the right direction or mentor you.

If you are unfortunate and happen to work for (boss), live with (family members) or spend time with (friends) Bad Critics, here are some strategies that will help silence them.

Gain Expertise

Become expert at what you do. Study every day to gain more knowledge. Practice every day to become more skilled in what you do. This helps build confidence in your knowledge base or skills. The more you become an expert in what you do, the fewer mistakes you make and the quieter those Bad Critics become.

Distance Yourself

Separate yourself from the Bad Critics. This may mean getting a new job or it may mean spending less time with family members or friends.

Ignore Them

“Water off a duck’s back.” That was a phrase an old boss of mine used to say whenever one of our Bad Critic clients decided to criticize our hard work. Ignoring Bad Critics isn’t easy. It takes practice. You must gain complete control over the negative, emotional part of your brain (amygdala). With practice and over time, this becomes a habit and gets much easier to do.

You can’t avoid Bad Critics. They are everywhere. But you can quiet them, through daily self-improvement, eliminate them, by avoiding them, or you can develop a teflon outer barrier, by forging the habit of ignoring them.

The Path to True Happiness

tip-o-the-morning

Tom Corley boats - crop

“My life has no purpose, no direction, no aim, no meaning, and yet I’m happy. I can’t figure it out. What am I doing right?” – Charles Schultz

Charles Schultz, an American cartoonist, was best known for the comic strip Peanuts.

In that quote, Schultz was not really asking a question. He was, in tongue and cheek fashion, revealing the true secret to happiness.

And what is the secret?

It is really two things:

  1. Making a living doing something you are passionate about and
  2. Making a living doing something in which you have an innate talent.

Passion and Innate Talent = Fulfillment.

Fulfillment = Long-Term Happiness

When you spend your life earning a living doing something you are passionate about and posses a talent for, you will live a fulfilled, happy life.

That is the true secret to happiness.