Archives for April 2019

We’ve all heard about To-Do Lists.

The best To-Do Lists incorporate daily activities that help you move yourself forward in life towards accomplishing your goals and realizing your dreams. A To-Do List is a powerful tool that helps you to focus on what to do.

But To-Do Lists only get you half way down the field. To get down the rest of the field and score, you must avoid distractions and time wasters. You must be wary of doing things which will hold you back in life.

This is where an equally powerful tool comes to the rescue. It’s called a To-Don’t List.

A To-Don’t List is a list of things you should avoid doing, because they are either time wasters, bad habits or things that hold you back from achieving your goals or realizing your dreams.

A typical To-Don’t List might include the following:

• I did not watch more than 1 hour of TV today.
• I did not waste time today on Facebook, Twitter, YouTube, etc.
• I did not allow any negative emotions to consume me today.
• I did not make any impulse purchases today.
• I did not gossip today.
• I did not listen to gossip today.
• I did not gamble today.
• I did not drink in excess today.
• I did not lose my temper today.
• I did not ignore my family today.
• I did not read negative news articles today.
• I did not procrastinate today.
• I did not ridicule anyone today.
• I did not hate anyone today.
• I did not smoke a cigarette today.
• I did not eat unhealthy today.

To-Don’t Lists are just as important as To-Do lists.

For those who have a lot of bad habits, they may be more important. To-Don’t Lists help keep you aware of the things you should not be doing.

Knowing what not to do is just as important in achieving success as knowing what to do. To-Do’s, while a great success tool, only get you half way there. To-Don’ts take you the rest of the way.

What would be on your To-Don’t List? Take your life to the next level. Start a To-Don’t List today.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

In order to know how far you are willing to go, you must be honest about how far you are willing to go. You must come face to face with your own self-imposed limits.

To help you better understand yourself and your limits, I would like to ask those of you who are pursuing a dream, some questions:

• How many years are you willing to chase your dream?
• How many hours a day are you willing to put in?
• How much family time are you willing to sacrifice?
• How much friend time are you willing to sacrifice?
• How much stress are you willing to shoulder?
• How much financial risk are you willing to take?
• How much disappointment are you able to tolerate?

In short, how far are you willing to go in the pursuit of your dream?

When you are done, ask your spouse, if you have one, these very same questions.

Your answers, and the answers of your spouse, will determine if you have what it takes in order to pursue a dream.

According to my Rich Habits research, the average dreamer devoted twelve years or more in pursuit of a dream.

And when I asked these self-made millionaire dreamers these questions, their answers were almost always the same:

I Was Willing to do Whatever it Took

Being a dreamer is a very selfish thing. You have to put your dream first.

Ahead of family.

Ahead of friends.

You have to be willing to forgo vacations, weekends and holidays.

You have to be willing to go all in.

Most people who fail to achieve their dreams, are unwilling to make the sacrifices necessary in order to realize their dreams.

That is why there are so few self-made millionaire Dreamers. It’s just too hard and too much of a sacrifice for most.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

One of my clients runs a pretty successful landscaping business. One payday, he noticed that his employees immediately headed to the convenience store located in a nearby strip mall. Once he became aware of this oddity, he noticed that every payday, this pattern repeated itself.

Out of curiosity, he followed them into the store after one payday and was shocked at what he saw.

Each of his employees were handing over to the store clerk what my client guessed to be about 10% of the hard-earned pay he’d just given them – on lottery tickets.

Many poor people would rather spend 10% of their income on the lottery, roulette wheel, or sports betting, rather than save and invest that same 10%.

Why?

They get a dopamine rush when they bet.

The sensation is akin to taking a hit of cocaine.

Of course, they always lose, but the hope of getting rich quick produces a surge of dopamine that they simply cannot do without. So, playing the lottery eventually becomes a Poor Habit. Once a habit, it morphs into a full-blown, lottery-fueled dopamine addiction.

All habits are neurologically-based. And each habit is represented by a group of synapses. Each synapse discharges a proprietary blend of neurotransmitters, such as dopamine, serotonin, GABA, acetylcholine, norepinephrine and a few others.

These neurotransmitters are the chemical reward for engaging in your habit of choice – playing the lottery, for example.

The Get Rich Quick Mindset is just one example of a habit that, like all habits, is fueled by a chemical.

That is why habits are so hard to break – they are really chemical addictions. And, once an addiction, are hard to break.

Be mindful of your repetitive behaviors. Once they become habits, you become their slave.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

When you think “wealthy”, what comes to mind?

Do you think, Warren Buffet-type rich?

Do you think retiree-type rich?

Or, do you think of someone in between?

I guess the point I’m getting to is that there are many levels, or degrees to wealth.

How many?

Well, I’ve been studying the rich since 2004 and according to all of the data I’ve accumulated on the wealthy, here’s my educated assessment of the various dimensions of wealth:

Uber Wealthy – Over $100 Million

The self-made people in this category got there one of three ways, according to my research:

1. They Created Something the Masses of People Wanted or Needed – These would be the Entrepreneurs who pursued some dream represented by a product or service that they believed would be of value to many people. .
2. They Were Corporate CEOs – These are the CEOs of major publicly-held corporations who received the lion’s share of their income from stock-based compensation.
3. They Are the Top of Their Field – They are world-class professional athletes, actors, musicians, software engineers, entrepreneurs, etc. They have a well-known brand and their herd of customers or clients is numbered in the millions.

The Uber-Wealthy can afford to live in the world’s most affluent communities. They can afford very expensive Country Clubs. They can buy yachts, airplanes and beach-front homes. They can fly to Paris on a whim. They can hire people to run their businesses.

Their passive income (income from existing investments) generates more annual income then they spend in a year supporting their lifestyle. They use their passive income to take significant financial risks, without batting an eye, as such losses would not affect future passive income streams.

Near-Uber Wealthy – $50 – $100 Million

Their story is very much like that of the Uber-Wealthy. They do have certain limitations, however, that limits the scope of their spending.

Their toys are similar, albeit, watered-down versions of the Uber-Wealthy.

They have to be more circumspect when taking financial risks, as their passive income is limited due to they scope of the wealth they’ve accumulated. Any investment of their principal (their core wealth which generates their passive income), as opposed to their passive income, must be scrupulously analyzed, as a loss of that principal could impair the lifestyle they’ve become accustomed to.

They are, therefore, equally interested in strategies that help them grow and preserve their wealth.

Respectably Wealthy – $10 – $49 Million

These millionaires made their money one of three ways:

1. Stock Compensation – They were senior executives who worked for publicly-help corporations and received the bulk of their wealth in the form of stock compensation. It took them about twenty years to accumulate their wealth.
2. Virtuosos – They have certain unique skills or knowledge that sets them apart from everyone else. People are happy to pay them a premium for their exceptional services or products.
3. Dreamers – These are entrepreneurs who pursued some dream and succeeded. They could be highly successful small business owners, but most are mid-sized business owners who make millions a year in income.

These millionaires can afford maybe one expensive toy and live in the most affluent communities. They may have two or three homes in different well-heeled places.

They are cautious with their investing – they cannot afford to take significant risks with their wealth. They can travel pretty much where they want, so long as they continue to preserve the wealth they’ve accumulated.

Borderline to Moderately Wealthy – $2 – $9 Million

They made their money in a similar fashion as the Respectably Wealthy, with one additional wealth type – the Saver/Investors.

The Saver/Investors are in the Borderline Wealthy category. They managed to live off of 80% or less of their income and over the course of 32 years or more, they saved and prudently invested their savings.

This joint category of millionaires are the bell-curve – they represent 95% of all of the “wealthy” who exist in the world. And they also happen to be the category of millionaires who were the primary focus of my Rich Habits Study.

They may have a second home, a vacation home. They may belong to a local Country Club. They can afford leisure travel a few times a year. They are cautious with their wealth, focused more on preserving it than growing it.

I’m not sure the purpose of this post, other than to better define what wealth truly means. As you can see, wealth is not one thing. It is many things, with numerous dimensions.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Self-interest is hardwired into all living things, everywhere.

Wherever there is life, wherever life exists in the universe, rest assured, its #1 directive will be self-interest.

Self-interest is the most powerful driver, the great overlord, of every single living thing from fungus to humans.

The Universal Law of Self-Interest was the very first law embedded into all living things, everywhere, for one reason and one reason only – to ensure survival.

With the exception of children, all human beings put themselves first.

Our thoughts are about ourselves.

Our actions are directed to benefit ourselves.

We compete to win something for ourselves.

Human self-interest is particularly acute, and on full display, during periods of scarcity. When desperate, humans will injure or kill anything that stands between them and what they need (75 people were injured in Venezuela as they scrambled to get a scarcity – food: https://www.telegraph.co.uk/news/worldnews/southamerica/venezuela/11832443/Woman-80-trampled-to-death-in-Venezuelan-supermarket-stampede.html)

Rich people understand the Universal Law of Self-Interest and leverage it to their advantage.

When you understand that every person you come into contact with is interested in numerouno, you too can use that Universal Law of Self-Interest to your advantage.

One of the millionaires in my study told me that he has a very simple rule he uses to help him get what he wants:

In order to get what I want from someone, I first help that someone get what they want.

When you use the Universal Law of Self-Interest to your advantage, by helping others get what they want, it automatically transforms whoever you help into one of your most powerful assets – they thereafter will become your greatest cheerleader, a champion for your mission, a brand ambassador, and a devoted apostle.

Helping others succeed in getting what they want, separates you from the masses. It puts you in the top 5% – the seemingly consistent few who understand what it takes to succeed in life, and who wind up rich.

And it separates you from the other 95%. – the bulk of human society who consistently do not understand what it takes to succeed in life, and who wind up poor or stuck in the middle-class.

Helping others succeed, creates an emotional bond between you and those you help. Emotional memories are always the most powerful, long-term memories – people always remember those who helped them succeed.

When individuals see you as someone who is willing to help them get what they want, they will automatically elevate you ahead of all others, transforming you into one of their most valued and important relationships.

Once I understood the Universal Law of Self-Interest, it came as no surprise to me when I discovered that 79% of the self-made millionaires in my study, the 5%, regularly volunteered for charities or non-profit groups.

Just take a look at any one of your local community non-profits – you’ll see that many of the individuals on the board of directors happen to be some of the most successful people in the community.

These successful individuals, the 5%, leverage the Universal Law of Self-Interest by making a habit of helping others succeed in getting what they want.

And, by doing so habitually, they become the ultimate beneficiaries of the Universal Law of Self-Interest.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Growth in knowledge is critical for success. It was a very common Rich Habit of the self-made millionaires in my Rich Habits Study.

But, it’s impossible to know everything.

Therefore, you must focus your study on specific areas that will create the greatest return for the time you invest in your learning.

Let’s touch on these key areas:

1. Learn everything about your job and the industry you are in.
2. Learn everything about the dream you are pursuing.
3. Learn everything about the people who can help open doors for you – the influencers.
4. Learn everything about significant current events. They might come up in conversation with someone who may be a future door-opener (influencer).
5. Every day, learn at least one new fact related to what you do. Document those new facts. I use a Fact Binder for this.
6. Every day, learn at least one new word. Document your new words. Use them in conversation that very first day you learn the new word. Write down your new words. I use a Vocabulary Binder for this. It’s broken us into various sections: Words to Use in Writing, Words to Use in Speaking, Words Specific to My Industry/Profession. The words we use create perceptions. Being good with words makes you sound articulate and more intelligent. You want others to see you as intelligent.
7. Learn something outside your comfort zone; something that will challenge your thinking and force you to re-evaluate your beliefs. The wrong beliefs will hold you back in life.

Process learning every day. Spend at least 30 minutes a day devoted to learning. Learning causes you to grow. Growth is a prerequisite for success in life.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Successful, wealthy people are outliers.

They do certain things every day that 95% of the population don’t do.

It’s not easy to become successful and achieve a life of abundance. It’s a long, hard journey, few are willing to make.

That’s evidenced by the fact that only 5% of the population is wealthy. This 5% has enough wealth to afford a life of abundance.

Most, the 95%, either struggle financially or must drastically reduce their standard of living in retirement.

It takes many years for the positive effects of good habits to return their investment and create a life of abundance. But, they always do return their investment.

So, this truly makes the successful, that 5%, outliers.

What are those certain things the 5% do, that makes them outliers?

• Daily Growth – The 5% invest in themselves every day through self-education: reading, listening to audio books, podcasts, webinars, etc.
• Focus – The 5% intensely focuses on specific daily activities that move them forward in achieving some big goal, life dream or major purpose
• Gold-Plated Rich Relationships – The 5% seek to develop and grow relationships with other success-minded, upbeat, can-do people. They do this through the Giving First Doctrine, daily or frequent communication (Hello Calls, Happy Birthday Calls & Life Event Calls), consistent networking, participating in mastermind groups, and volunteering at local, community-based non-profits (you’ll find many of the communities most successful people on their board of directors).
• Positive Outlook – The 5% have a positive mental outlook. This improves brain performance, decision-making and is an emotional backstop to negativity.
• Blueprint – The 5% create a blueprint for their future lives. This blueprint provides a clear vision of their destination.
• Virtuosos – The 5% develop and hone their skill-sets through deliberate and analytical practice.
• Modest Lifestyles – The 5% lives off of 80% or less of their net income, enabling them to accumulate savings, which they then prudently invest over many years.
• Dream-Set – The 5% pursue dreams and goals that help them to increase their income and their wealth.
• Happiness Mindset – The 5% make happiness a habit by being present during family events, by having a blueprint or plan they are following, by taking care of their bodies and their health and by surrounding themselves with individuals who share their positive outlook on life.

Building wealth is a process. Only those who devote themselves to the process, succeed. They are the outliers. They are the 5%.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Relationships are the currency of the wealthy.

Wealthy, successful people are very particular about who they associate with. Their goal is to develop relationships with other success-minded individuals. What I like to call, Rich Relationships.

When a wealthy, successful person stumbles upon someone who they believe possess a similar success mindset, they go to work seeking to build a strong relationship with that special someone. Their goal is to transform these relationships into Gold-Plated Relationships.

How do millionaires create Gold-Plated Relationships?

They help them become successful using a number of strategies:

1. Referral Source – They refer quality clients or customers to their budding Rich Relationship.
2. Door Opener – They tap their inner circle of powerful Influencers to help open doors. These Influencers might be bankers, potential customers, industry power brokers, distributors, suppliers, Virtuosos, college deans (kids), senior executives at publicly-help companies seeking interns (kids), etc. They open doors to help improve the business and personal lives of their newly minted Gold-Plated Relationship.
3. Mentorship – The rich offer guidance and advice to help their new relationship avoid mistakes, pitfalls and potential problems in their business. They offer advice and wisdom in helping them grow their business. The teach them proven processes that the millionaires use themselves. They help them focus on the right paths to take, saving them time and money.
4. Funding – The rich will help them secure funding for a dream, their struggling start-up, or money to help them grow and expand their existing business.

This Giving First Doctrine is very effective in forging Gold-Plated Relationships.

The rich understand that by giving first, their new relationship will feel compelled to reciprocate, in some way (called Law of Reciprocity).

The rich also understand that by giving first, their new relationship will become their biggest cheerleader, a valued external salesperson and an enthusiastic referral source.

Success is a process. Knowing and duplicating the processes millionaires use to help them achieve success, helps minimize mistakes and removes the trial and error of your success journey.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Human beings have a herd mindset that is simply overpowering. It’s what made Facebook possible. It’s what causes teens to emulate each other, good or bad. It causes stock markets to go up and stock markets to go down.

People simply want to blend in. They want to follow and be part of the herd. [Read more…]