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Setting & Achieving Goals

20 Habits Holding Me Back From Being A Millionaire

Getting rich quick is difficult but getting rich eventually is just a matter of thrift, work and patience.

John Rampton




How would you like to become a millionaire?

We all do. But, most of us, including yours truly, have bad habits that get in the way of accomplishing this feat. If you’re able to ditch these bad habits, you should realise that obtaining a millionaire status isn’t as elusive as you may have thought.

For me personally, here are the 20 habits that were holding back me and so many other people from becoming a millionaire.


I completely understand that not everyone is a morning person because I struggled with that for years. I still do on those cool, rainy mornings. Here’s the thing.  If you’re not getting-up until noon expect to hustle and work 12 or more hours per day to make up for your late start.

Successful people are known for waking-up early, usually before everyone else in their house, so that they can start cranking out work, catch-up on the news, respond to the emails and exercise without sacrificing to much time with family.

Related: 15 Wise Money Quotes From Millionaires And Billionaires

2Neglecting your health

“Poor health habits create detrimental luck,” writes Thomas Corley in Change Your Habits, Change Your Life: Strategies that Transformed 177 Average People into Self-Made Millionaires.”

When you’re unhealthy, you’re tired, less productive, more stressed and far more prone to getting sick. How can you focus on building your health when you’re battling those factors everyday?

3Not reading


The rich invest the time and effort necessary to expand their knowledge, keep up with news and trends in their industry, learn from inspirational biographies and remaining relevant.

As Will Lipovsky wrote, reading brings in different perspectives, allows various points of view to broaden your own, pushes you to dream bigger and motivates you to never give up.

4Relying on one source of income

The wealthy have several streams of income. For those of us aspiring to wealth, that means side hustling to pay-off debt, set aside for your retirement and invest.

This doesn’t mean that you have to get a second job waiting tables (but it’s not a bad idea until you have a better option). It could be something that you’re passionate about, such as writing about technology. You could eventually gain a following for your blog and start earning a passive income through affiliate marketing.

Related: The 6 Attributes Shared By Young Millionaires

5Not setting a budget

Everyone needs to create a budget and stick to it but, unfortunately, there are plenty of people who don’t. Since they can’t accurately see if they’re spending more than they’re earning, that often leads them to financial trouble. If you notice that that’s the case, then you need to start cutting unnecessary expenses and speak to an advisor to get you back on-track.

This is actually another habit shared by the wealthy as authors Thomas Stanley and William Danko discovered after studying millionaires for their book The Millionaire Next Door.

6Spending carelessly

“Ninety-five percent of the poor in my study did not save and most accumulated debt to subsidise their standard of living,” Tom Corley wrote in Change Your Habits, Change Your Life. “Consequently, they have no money for retirement, for their kids’ college, or for pursuing opportunities that present themselves.”

As Corley bluntly puts it. “Not saving and spending more than you make create long-term poverty, with no hope of escape.”

7Not paying attention to the small costs


You may not think that spending $4 a day on a cup of coffee has an effect on your wealth. The same with that $500 yearly gym membership that you rarely use. Even though in the scheme of things these are small costs, they add-up quickly.

I recently pulled random credit card payments data from my company. I found that 35 percent of people that purchase coffee or visit a coffee shop on a daily basis (at least 4x a week) only pay the minimum on their credit card each month.

Again, that’s why a budget is so useful. It helps you pick-up on these small costs so that you can adjust accordingly and stick with the essentials. Instead of going to Starbucks daily, make it a weekly reward after you’ve had a productive week and only keep the subscriptions that you’re actually using.

Related: 5 Truths That Made Me A Millionaire At 22

8Hanging out with the wrong crowd

“You are only going to succeed in life if you surround yourself with the right type of people,” says Corley. Replace those toxic and negative people in your life with those who optimistic, driven, and supportive.


It’s one thing to say that you want to become a millionaire. It’s another to actually start doing it. If you want to get out of financial stagnation then you need to start taking action as soon as possible. Even if that’s just sitting down with a financial professional to go over your budget. It’s a great place start so that you can stop talking and start doing.

10Drinking and gambling

“There is no such thing as getting rich quick,” Corley writes. “Financial success takes time, takes initiative, and requires relentless effort. Those who gamble are deluded into thinking there is a shortcut to success.”

Instead, millionaires “make a habit of pursuing their dreams and their goals.”

Furthermore, excessively drinking alcohol prevents you from achieving that millionaire status since it harms your memory, ability to think clearly and your health. That’s not to say that you can’t have the occasional glass of wine or beer. It means that this should never become a daily habit.

11Watching too much television


Zig Ziglar once said, “Rich people have small TVs and big libraries, and poor people have small libraries and big TVs.”

Don’t get me wrong. I enjoy watching Netflix every now and then. But, as Corley has found, the rich would rather read, exercise or educate themselves rather than waste time watching TV.

“Making productive use of time is a hallmark of self-made millionaires,” Corley says. “Wasting time is a hallmark of poor people.”

Related: These 3 Simple Strategies Will Better Your Odds Of Becoming A Self-Made Millionaire

12Not finding a mentor

I’m confident that if I had found a mentor years ago I would have struck it rich back then. Why do I feel that way? I could have learned from the successes and mistakes of someone who has proven themselves in the field. Their advice could have helped me skip the constant trial and error that I’ve experienced and get right into making a profit.

While you can go out and hire a mentor, mentors are all around you. It could be the advice from a college professor, your parents or even from Elon Musk by following him on social media or reading his biography.

13Staying in your comfort zone

I get it. Taking risks and stepping out of your comfort zone is unsettling. But it’s not until you take that leap that you’ll find financial success. It’s a habit that has worked well for Bill Gates, Richard Branson, Larry Ellison and Warren Buffet.

“The pursuit of wealth requires that you take risks. Most don’t, and that’s why most are not wealthy,” says Corley.

14Not asking questions

Put aside your ego for a moment. You don’t know everything. I hate to be the bearer of bad news, but that’s a fact and it will hold you back from becoming wealthy until you face it.

I learned the hard way that guessing your way through leads to failure and poor decisions. If you’re uncertain about an investment or business idea, don’t hesitate to ask for feedback and advice.

15Being consumed by failure

Entrepreneurs wear failure like a badge of honour. That still doesn’t mean that enjoy or want to fail. Closing a business and losing almost everything sucks but those setbacks are necessary to become as strong as you can be.

Make no mistake about. Failing is pretty awful. But, don’t let that hold you down. Take those risks. And, if you fail, learn from your mistakes and move forward.

Related: 5 Millionaire Traits That Will Help You Get To The Top

16Not setting daily goals

One of the best habits I’ve picked-up over the last couple of years is writing down my daily goals first thing in the morning. It inspires and guides me to push myself each and every day to achieve those goals.

I’ve found that when setting your daily goals, it helps to prioritise them by most important to least important Prioritisation is first doing what matters most. For example, instead of me chasing several $100 past due invoices, I focus on the one or two $1,500 invoices.

17Thinking negatively

“Long-term success is only possible when you have a positive mental outlook,” Corley writes.

Here are some of the most common negative thoughts that we have and most overcome;

  • Doubting yourself. Training, education and a mentor can change this.
  • Not believing your goals can be achieved. Focusing on achieving those daily goals and work your way up.
  • Having poor grades. No. Grades and learning disabilities don’t determine your success. Just ask Richard Branson who overcame dyslexia.
  • The competition is too tough.You never know until you try. Worst case scenario? You have to pivot.
  • No focus. A healthy lifestyle and setting daily goals can keep you focused.

18Not collecting assets

“A job will never make you rich. Neither will saving all your cash in a coffee can. So how can you build that wealth?,” asks Brandon Turner, VP of Growth at

So, what will? Assets, like a profitable business, a growing stock portfolio or investing in the right piece of real estate.

Remember, your car and shiny toys are “liabilities that are robbing you of future wealth.” Focus on “collecting things that will make you money in the long term.”

19Making excuses

Making excuses was one of the tallest hurdles between me and wealth. Making excuses is easy when are trying to understand why we’re buried in debt and don’t have a six-figure income. Saying we want to “live in the moment” is a poor excuse for not working today to make a more prosperous future. Stop making excuses and start taking action.

For example, don’t worry about saving when you’re drowning in debt. Pay that debt off first, then you can start saving and investing. If you don’t make enough money, then find another source of income like selling stuff online or delivering pizzas. That won’t solve all of you problems, but it’s a start in getting rid of those excuses.

Related: 13 Female Entrepreneurs Rising To The Top

20Not following the 70/30 Rule

Jim Rohn, one of the county’s leading authority figures in business, has a simple formula for accumulating wealth.

“After you pay your fair share of taxes, learn to live on 70 percent of your after-tax income. These are the necessities and luxuries you spend money on.” Rohn says after that, “it’s important to look at how you allocate your remaining 30 percent.”

He suggests giving a third to charity, a third toward capital investments and the final third should be put in savings. You won’t notice anything at first, but “let five years lapse and the differences become pronounced. At the end of 10 years, the differences are dramatic.”

This article was originally posted here on

John Rampton is an entrepreneur, investor, online marketing guru and startup enthusiast. He is founder of the online invoicing company Due. John is best known as an entrepreneur and connector. He was recently named #2 on Top 50 Online Influencers in the World by Entrepreneur Magazine and has been one of the Top 10 Most Influential PPC Experts in the World for the past three years. He currently advises several companies in the San Francisco Bay area.

Setting & Achieving Goals

How You Can Turn Those ‘Near Wins’ Into Successes

As a start-up, there’s nothing more devastating than losing a deal you thought was yours, or realising your great idea isn’t the game-changer you thought it was. But there’s an upside to those ‘near misses’ — they’re excellent opportunities to learn from and perfect your offering.

Tumi Menyatswe




By good fortune, I started my career in a commonly misunderstood and widely overlooked sub-sector within the aviation industry, load control. Don’t be embarrassed if you don’t know what that is. In simple terms, load control focuses on the safety of passengers and the weight and balance of an aircraft. The work ensures that the centre of gravity is always within certified limits and structural weight and balance restrictions are never exceeded. A huge responsibility, even for the trained and desensitised.

For most of us hyper-ambitious individuals, when we don’t get to ‘the top’ as per the initial plan, we tend to wonder whether it was even worth it to start our journey. We lose our centre of gravity. Being one of the two selected candidates (after a nationwide search with over 500 applicants) for a world-class management trainee programme and later moving on from that ‘fairly clear path to success’, I’d always felt like I had failed, and dismally.

Let me explain. The programme was aimed exclusively at nurturing new talent within Global Load Control. It was industry-specific, and when I secured such a coveted spot, I felt on top of the world — my path was clear. Except it wasn’t. I realised I wanted a different environment where I could get exposure to working with entrepreneurs, especially because by then I had spent time within the Cape Town start-up ecosystem. I knew exactly why I was moving on, but it still felt like I’d failed.

Here’s the harsh truth: Nearly winning is failure, but that’s okay. We learn from failure. I’ve established my own core values and I’ve dared to speak up and write my own narrative. I’ve learnt to own my purpose. The road hasn’t always been easy, but in hindsight, it’s definitely been worth it.

Creating a compelling need

I have an innate ability to choose industries that aren’t open to changing their status quo. I then intentionally challenge and critique how the systems in those industries have been operating. This means things rarely go my way. It’s the entrepreneurial mindset, whether you’re starting a business or employed, to question everything, and that’s my mantra — I always ask ‘why?’

The problem is that even though I know I have a solution my customers need, because I’m challenging the status quo, they don’t always see things my way.

Related: For Vusi Thembekwayo, Focus Leads To Big Wins

As an entrepreneur, I’ve learnt that understanding the reason behind the multiple ‘not yet’ and ‘nos’ from your ideal first customers is a gift. But in order for you to claim that gift, you have to be committed to the process of understanding your customer’s needs.

Multiple authors and experts will tell you that however good your product or service is, the simple truth is that no one will buy it if they don’t want it or don’t believe they need it. And you won’t be able to persuade anyone that they want or need to buy what you’re offering unless you clearly understand what it is your customers want.

One aspect that isn’t being sufficiently discussed, is the fact that committing to that process is going to be uncomfortable and even painful in some cases. Really digging into your customer’s business to the point that you can offer them a real solution that they need takes confidence, resilience, hard work and sometimes even a thick skin if your customer or prospect pushes back. You need to really believe in your solution — but you also need to be willing to change what isn’t working.

Entrepreneurs are people too, and let’s face it, no parent wants to hear that their baby (or business or business idea) is ugly. Nurturing a positive view of yourself, finding ways of developing confidence in your ability to solve problems and trusting your instincts helps build resilience as an entrepreneur. And yes, that means that sometimes you have to face the truth and change what isn’t working in your business. When facing very painful events, try to consider the stressful situation in a broader context and keep a long-term perspective. Avoid blowing the event out of proportion because that terrible feeling of not winning at first will wear off, eventually.

Stimulation for further achievement and mastery

When we don’t complete projects perfectly, it can feel as though we’ve failed. However, ‘near wins’ are important steps in achieving our long-term goals. Near wins are almost, if not always, more important than actual wins, as they set in motion a constant pursuit of improvement. In her brilliant TED Talk Embrace the Near Win, Sarah Lewis deep dives into the concept of the near win and how it’s instrumental in achieving success.

I, like most people, have experienced my own set of near wins. According to Sarah, that’s okay, because failure is what we experience on the way to mastery. And mastery is ultimately more important than success. Sarah defines success as a single moment. Something that comes and goes and is a byproduct of effort. However, what she calls mastery, is the act of working towards something. A system for continuing to set and reach for goals. As I’ve personally learnt, being engaged in that system is a crucial element in mastering your goal. Purposeful efforts make life interesting.

Stay on your own leading edge

More will always be required of you. That’s a fact. Recovering from failure requires sufficient strength and an ability to support your sense of well-being while managing the stresses brought about by failure.

The trick is learning the art of bouncing back. The term most often used is resilience. The Road to Resilience, a publication of the American Psychological Association and the Discovery Health Channel, offers a useful definition. “Resilience is the process of adapting well in the face of adversity, trauma, tragedy, threats, or even significant sources of stress — like family and relationship problems, serious health problems, or workplace and financial stressors. Find ways that are likely to work well for YOU as part of YOUR own personal strategy for fostering resilience and overcoming failure. Along pathways to success and mastery, entrepreneurs, change agents and leaders alike will find adversity, doubt, and near wins. How you manage those is what matters, so learn and adjust where necessary.”

Related: 3 Personality Traits You Need For Success: Grit, Determination And The Will To Succeed

One last thing I would like to stress is learning to cope with who you are as a person. Take care of yourself. Pay attention to your own needs and feelings. I know it’s a cliché but it’s also essential to your overall well-being and success. Engage in activities that you enjoy and find relaxing. Exercise regularly. Taking care of yourself helps to keep your mind and body primed to deal with situations that require resilience. Protect your peace because you can’t possibly function in chaos. Remember this, the dark moments that will come will also pass, so focus on getting that shine on. Cheers to celebrating your next near win.

As an entrepreneur, I’ve learnt that understanding the reason behind the multiple ‘not yet’ and ‘nos’ from your ideal first customers is a gift. But in order for you to claim that gift, you have to be committed to the process of understanding your customer’s needs.

Staying motivated

  1. It’s called ‘the entrepreneurial journey’ for a reason. It might take you a bit of time to see the value of some lessons and that’s okay, the light bulb will go on eventually.
  2. Accept that you don’t know everything. While you may start to build a business and it actually begins to work, don’t think that you’ve become a Mrs/Mr know-it-all. Continue to learn from your customers and the people around you
  3. It’s not all about you and your idea. Your business will exist because there’s a value exchange between yourself and your customer. Be very clear about what that value is and how you can keep improving on it
  4. Find a mentor. By that I mean someone who’s actually built a business and succeeded, not an entrepreneurship activist. Inspiring entrepreneurship activists are fine, but it helps to have a solid sounding board and that takes experience, and someone who has experienced failure themselves.
  5. Breathe. Starting a business is hard, growing one is hard and running one is hard. Doing this day in and day out can be exhausting. Remember to celebrate the small wins and avoid the notion that you have to land some fantastic, outstanding client or reach thousands of customers before celebrating. Rejoice over the first customer or transaction, or over squashing a minor coding bug in a few days.


Embrace the Near Win by Sarah Lewis

“My triumphs are not merely the result of a grand achievement, but of the propulsion of a lineage of near wins.”— Arctic explorer Ben Saunders

Sarah Lewis is an art historian and critic who celebrates creativity and shows how it can lead us through fear and failure to ultimate success

In her talk Embrace the Near Win, Sarah Lewis shares the following insights:

  • Success is a moment, but what we’re always celebrating is creativity and mastery. The secret is converting successes – big, small and near misses – into mastery. This starts with the value you give to a near win.
  • Success is achieving a specific goal, but mastery is knowing that it means nothing if you can’t do it again and again.
  • Mastery is not the same as excellence. It’s also not the same as success, which is an event, a moment in time, and a label that the world confers upon you. Mastery is not a commitment to a goal but to a constant pursuit.
  • In other words, the pursuit of mastery is an ever-onward almost.
  • Mastery is in the reaching, not the arriving. It’s in constantly wanting to close that gap between where you are and where you want to be.
  • Success motivates us, but a near win can propel us in an ongoing quest.

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Setting & Achieving Goals

6 Reasons Why Concrete Goals Are Essential To Entrepreneurial Success

Making dreams come true is a precise, step-by-step process.

Timothy Sykes




Believe it – there is a right way and a wrong way to approach setting career goals. In a nutshell, the more specific your goals are, the better.

If your professional goals are nebulous, like “become rich” or “gain success,” you may be psyching yourself out without even realising what you’re doing. Setting specific goals gives you the motivation and focus to begin making them a reality.

Ready to readjust your goal setting methods?

Related: The 7-Step Formula For Goal-Setting

Here are just six reasons why you need to set specific goals to get ahead in your professional career to get ahead:

1. They keep you motivated

Setting specific goals allows you to get really clear on what you are working toward in your career and why.

For instance, if you have a vague goal like “Make more money,” it will supply similarly vague motivation. When you reach the first sign of resistance, that goal will seem unattainable and too hard, and you’ll be more likely to give up.

On the other hand, a specific goal like “Buy a condo in San Diego” is very specific and gives you something specific to work toward and to help you maintain motivation.

2. You’re more likely to achieve specific goals

Goal Setting Theory is the culmination of research that began in the 1960s by Dr. Edwin Locke and Dr. Gary Latham. In researching the connection between clear goals and performance, they found that there was a relationship between how difficult and how specific a goal was and people’s performance of a task. Further, they discovered that specific and difficult goals led to better task performance than vague or easy goals.

Related: You Need This One Trait To Succeed In Reaching Your Goals

Basically, research shows that when you have specific long-term goals, you’re far more likely to perform better, which will ultimately make achieving said goals far more possible.

3. You can break big goals into mini goals

A benefit of setting specific goals is that you can then get tactical about how to make them a reality. Namely, you can break each goal down into mini goals or milestones.

Say that one of your goals is to increase sales for your business by 25 percent this year. You can set specific dollar amounts as milestones for each month or quarter.

Having mini goals like this will help you stay inspired and will give you an impetus to put specific actions in work to make them happen.

4. You can adjust as needed

gpsSpecific goals are kind of like a career roadmap.

However, just like your car’s GPS, sometimes you need to shift the destination for various reasons. It’s easier to shift or adjust a specific goal than it is to change a vague one.

For instance, say you are approaching your very specific goal at a more rapid rate than anticipated. To keep yourself motivated, you can look at that goal and adjust it to meet your current circumstances. This way, you always have something to work toward and can continue to push yourself in positive ways.

5. They will make you more confident

There’s nothing like the sense of accomplishment that comes from setting a specific goal, working hard and then finally attaining it. It makes you feel confident and secure in your own abilities.

Related: Follow These 8 Steps To Stay Focused And Reach Your Goals

When you’re imbued with this sense of self-accomplishment, it has the effect of making you feel more self-confident. Self-confidence can help you advance quicker in your career and improve your performance, which helps keep you working toward your goals with ease.

6. They make you more ambitious

Once you’ve set and then attained a few specific goals, you’ll believe in yourself even more. This means that as you progress in your career, your goals will become even bigger and more ambitious.

By continually setting specific goals and adjusting them to remain aspirational, you’ll create a powerful source of inspiration that will serve you throughout the course of your career and life.

Set specific goals from now on and you’ll see a big difference over time!

Related: Feel Like Quitting? These 9 Women Prove Grit Can Lead You To Massive Success

This article was originally posted here on

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Setting & Achieving Goals

How You Can Do Big Things

The secret to achieving impossible dreams is accretion — slowly and steadily working towards your goals.

Erik Kruger




When you realise that accretion is about the accumulation of all the things that you do and all the decisions that you make, you start to see the importance of aligning everything in your life in the direction of your goals.

In 2005, four Navy Seals were sent on a mission to extract a high value target. Unfortunately, the mission didn’t go according to plan, leaving the Seals to fight for their lives. Three of them were killed in action. The other was shot, fell off a cliff, and in the process shattered his back and legs. He also bit off half of his tongue, and endured multiple gunshot wounds.

Yet, despite the fact that he couldn’t walk, he managed to crawl 11 kms to a nearby village and to safety.

When he was asked how he did it he said that he took a stone in his hand, stretched his arm out in front of him and drew a line in the sand. All he wanted to do was get across that line.

As soon as he managed to drag his feet across the line, he drew a new one. In fact, he kept drawing lines and crossing them for 11 kms.

Related: Follow These 8 Steps To Stay Focused And Reach Your Goals

That is how he did the impossible. One line in the sand at a time.

The Paradox

Motivational speakers love telling us to take big actions; to think and act big. Although I can appreciate the sentiment, and sometimes it’s apt, I think that it often has a counterproductive effect.

It scares people. It implies that there is also the possibility for massive failure. But it’s not just about the actual failure of a project or business. It’s the internal dialogue that goes with it.

The inner voice that starts telling you that you aren’t good enough. That you shouldn’t even try. I’m sure you can relate. We all have a judger inside us that rears its head when we are trying to do meaningful things. That criticises every move and decision. The judger has a great ability to prevent us from taking any action at all. Let alone massive action.

The Way

It’s for this reason that I always encourage entrepreneurs to simply focus on the line in front of them.

Keep in mind the direction you want to move in, and the goal you would like to achieve, and then start by crossing that first small line. And when you’ve done that, cross the second.

As you continue, you pick up momentum. Your actions become bolder because you become more confident.

Soon you find yourself taking bigger and bigger decisions and actions.

But they were born from the thousands of small decisions and actions that you took before.

Related: 7 Steps To Achieving Our Higher-Level Goals


I talk about this principle often.Accretion is the accumulation of all of your compounding efforts, small wins, abilities, knowledge, and experiences. Over time this process accumulates and perpetuates what you feed into it.

When you realise that accretion is about the accumulation of all the things that you do and all the decisions that you make, you start to see the importance of aligning everything in your life in the direction of your goals.

The reason I am writing to you today is because of the body of work that I have accumulated through the writing of my daily email. An email that has gone out more than 580 times. Every day without missing a beat.

It’s my line in the sand that I cross every day. And the result of it has not simply been an accumulation of 580 emails. It has been a successful business, the opportunity to become a coach, to speak on stages with well-known businessmen, and write this column for Entrepreneur magazine.

Remember that consistency breeds success.

I’d much rather bet on the guy who consistently executes well than the guy who hits a home-run every now and then.

Draw a line in the sand.

Cross it.

Then tomorrow, do it again.

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