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Setting & Achieving Goals

6 Unlikely Characteristics Common Among Billionaires

Are physical attributes and family life factors in whether or not one becomes a billionaire?

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Jeff-Bezos

What do the wealthiest people on this planet have in common? A great business sense? Luck? A strong work ethic? The likely answer is a combination of all of these and much more. However, when we look at the characteristics of successful entrepreneurs and investors, we tend to limit ourselves to typical business traits and disregard features like physical attributes or family life.

But what if these seemingly trivial aspects can give an indication of your potential to make billions? Take a look at GoCompare’s study of the top 100 billionaires over the last 20 years.

At first glance some of the following traits may seem unrelated to making money, but they might just be the hidden key to becoming rich.

Related: Billionaire Insights With David Rubenstein

1. Invest in your family

Are you married? Do you have three children? Statistically, you’re most likely to be a billionaire if your family looks something like this: Among the world’s richest, 87 percent are married and 63 percent have three or more children.

Naturally, having a large family does not guarantee success, yet it seems that the emotional support family and marital life brings with it, might aid individuals in dealing with the stress and ambiguity of entrepreneurship.

2. No school of hard knocks

Although 14 percent of the 100 richest people in the world since 1992 have had no formal education at all or were college dropouts, attending certain universities and studying a few select subjects could increase your chance of making it big.

The most popular universities amongst the world’s billionaires are the famous elite institutions Harvard University and Stanford University, renowned for producing a league of influential entrepreneurs and world leaders.

The most popular degrees cover a variety of sectors and include engineering, economics, computer science and business administration.

Related: These Are the World’s Top 10 Young Billionaires

3. Successful star signs

Horoscope-chart

Regardless of your opinion towards horoscopes and astrology, there is some evidence that certain star signs are linked to more successful people. Among the world’s top billionaires, 12.5 percent are Aquarius, who are said to be independent and inventive, traits that arguably come in useful for entrepreneurs.

On the other hand, the least represented star sign is Cancer, with only 5.9 percent of billionaires born between late June and July. Cancerians are linked to traits such as tenaciousness, but also tend to be insecure, a potential obstacle on the path to success.

4. Let’s get physical

If you have a bald spot and you’re wearing glasses, you may be in luck. The number of balding billionaires has risen throughout the last two decades, a trend that can largely be explained by the fact that the people on the list are ageing. However, stressful periods, such as the financial crisis, seem to have an impact on hair loss, which saw a sharp increase between 2008 and 2009.

Currently, 41 percent of the 100 richest billionaires wear glasses. Although this figure is lower than the 64 percent of the total U.S. population that needs glasses, there are still a significant amount of billionaires who clearly haven’t opted for laser eye surgery.

Related: Self-Made Billionaire David Rubenstein’s 7 Habits Of Success

5. It’s still a boy’s club

Alice-Walton

Alice Walton. Image credit: inarkansas.com

While the number of successful female billionaires, like Liliane Bettencourt and Alice Walton, is on the rise, there are still only eight women among the 100 richest people, making it far more likely to become a top-grossing billionaire if you’re male.

Furthermore, although these female entrepreneurs worth billions often hold important positions in their respective companies and have succeeded in growing existing businesses further, all of them have inherited their wealth.

This is especially interesting: overall, an impressive 69 percent of billionaires are self-made.

6 Origins of success

Could your country of origin be an indicator for your success potential? According to Go Compare’s figures, yes. China may have now overtaken the United States with the highest number of total billionaires amounting to 596. However, 40 of the 100 richest billionaires, among them Bill Gates, Warren Buffet and Jeff Bezos, are from America.

Further countries with high numbers of billionaires include Germany, Russia and France. Possible explanations for this geographical bias may lie in America’s promotion of the “American Dream” story and a solid network of angel investors and venture capitalists, which both provide a positive environment for innovation.

Looking at the factors mentioned above, we see that even traits that seem far-fetched can be an indicator for success, if they are viewed in the right context. There is no magic recipe for becoming rich, yet understanding what influences wealth is a good start.

From what we can see here, if you’re a married, male Aquarius with three kids, have a degree from Harvard, a bald spot and an American passport, the odds of becoming a billionaire are on your side!

This article was originally posted here on Entrepreneur.com.

Image credit: Amazon

Anders Nilsson is head of PR, outreach and content at Gocompare.com, which is a UK-based financial services comparison website that helps people review and switch their insurance, energy, banking and telecoms providers. Anders has spent 10 years in PR and external communications across the technology, B2B and financial services industries.

Setting & Achieving Goals

Finish The Year Strong To Carry Momentum Into 2019

Survey your accomplishments now, and reassess your goals, to conclude this year in kinetic alignment with where you want to go next.

Raul Villacis

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end-of-year

At the end of every season I like to take some time to reassess my yearly outcomes. I also do this with all my coaching clients because it helps them see the progress they’ve made and how they can adjust their expectations.

This year, I decided to bring all my clients together for a two-day event to do their assessments in a group setting. This is going to be the main theme at this year’s Next Level Leadership Summit: “How to Finish Strong.”

I’ve been privileged to coach, consult and interview some of the most productive entrepreneurs I know, and I have learned as much from them as they have from me. The principles they have shared with me are timeless and easy to follow. I have used them time and time again to reset my goals to make sure I set myself up for a great closing to the year instead of being disappointed by what I didn’t accomplish.

Don’t let attachment to the outcome rob you of victory

Most entrepreneurs are very competitive. We have a vision and goals, and we want things to look a certain way. The truth is that things don’t happen the way we want them to most of the time. To keep the momentum, sometimes you have to adjust your vision.

Currently, I’m working with a real estate developer who is working on several projects. At the beginning of the year, he set a goal to close a deal that would net him $20 million. He found one and started working it. It looked like he was on his way to achieving his goal, but he later received news from his architect that he had miscalculated some numbers and that they would be making $5 million less than originally projected. Upset, he called me to tell me the news.

All I heard in his voice was how disappointed he was that he was not going to hit his goal. I reminded him of where he was three years ago when he joined my programme. He was burned out, had lost his purpose and didn’t have any deals to count on. And now, this is one of the many deals he has in the pipeline. Maybe he won’t get what he was aiming for, but this is still a victory.

This is what we do all the time. We beat ourselves up because we are attached to the way things should be. A high-performing entrepreneur looks at their life as a game. To finish the year strong, he must appreciate how far he has come and reset his outcomes according to his current situation.

Related: The 7-Step Formula For Goal-Setting

Focus on progress, not perfection

At the first of the year, you create a list of things you want to accomplish. You then wait and wait for the perfect timing. After nine months go by, you look at the list and you feel disappointed you didn’t get everything done.

I know a guy who is developing a productivity app. He has interviewed developers, created the overall design and is constantly asking for feedback from people on how the app should look. He has been working on this for years but he is always waiting for the perfect time to execute.

One of my other clients has just launched his first app, and he is getting rave reviews. What’s the difference between these two men? One is waiting on the perfect time and is paralysed by the illusion of perfection while the other one was focused on creating progress.

Each week I asked my client how his app was going, and he shared his progress. Was it perfect? No. Did he experience challenges to make it work? Yes. But he knew the first steps – finding the money, reviewing the design and creating the user experience – were going to be the hardest. Now he is working on improving it based on all the feedback he has gotten from users.

High performers know perfection is the lowest standard. To finish the year strong, take inventory of all the progress you’ve made and focus on making things better.

You are the product of your environment

We’ve been taught that mindset and positive thinking are the keys to success. But that’s only part of the equation. For the last decade, I’ve focused on being in an environment that supports my growth. It doesn’t matter how strong your mindset is. It doesn’t matter how positive you are. If you are around negative people or in a negative environment, you will lose.

I’ve helped one of my clients get clear on how he wanted to take his business to the next level. We created a plan and a timeline with clear outcomes. Then I asked him, What is one thing that can mess this plan up? He said if he continued to hang out with his drinking buddies and give in to his old habits, it could distract him from his plan. So I told him to change his environment for the next 100 days to see if that would make a difference.

Now, at day 110, everything – his business, life and relationship – are on fire. I not only asked him to change his environment, I also replaced it with a group of high-level performers who hold him accountable to his commitments. That group is on fire, and they are going to be recognised for their amazing shift at my Next Level Leadership event.

High performers evaluate their environment and make changes to align it with their vision. They eliminate any possible scenario that can prevent them from getting what they want.

Related: 6 Reasons Why Concrete Goals Are Essential To Entrepreneurial Success

Focus on the other R.O.I. – return on impact

As entrepreneurs, we must watch the bottom line at all times. Every move we make has to bring us a return on our investment. Lately, I’ve seen a big shift in the market. The “cut through to the bottom line” mindset can only take you so far. I’ve been able to grow my business faster by focusing on the impact rather than the income. Don’t get me wrong. I charge for my services, and I’m not running a non-profit, but income is not my main focus.

I recently helped a client create a framework in his business that gave him a sense of purpose. He was ready to sell all his assets and move to an island with his wife and kids because his idea of success was being met by his expectations in his business. I helped him see that he simply needed to focus less on the transactions and more on the transcendence his business could provide. He owns multiple businesses, so it took him some time to figure out how he could help his clients have a better experience rather than treating them as singular transactions.

When he came back to me, he had a list of things where he had made an impact. All of a sudden, his passion for running a business had returned. He had a new sense of purpose seeing how much impact he could make in he lives of others.

A high-performing entrepreneur measures his success on the amount of impact he has on people’s lives.

Reset, recharge and recommit

We all want to have more time. We are running 100 mph, and we don’t want to slow down. That’s the life of any entrepreneur who wants to succeed in this competitive market. But, if a car is running that fast every day, it will eventually crash. And that’s what happens to us. We crash and sometimes burn things down.

To avoid this, I meet with my clients several times throughout the year to reset our goals, recharge our batteries and recommit to the process. Nothing is better than iron sharpening iron. It doesn’t have to be a long period of time. We actually discover that all we need is one day per quarter, and we can compound time. When you’re busy, quality is better than quantity.

Each quarter, people travel from all over the country to our meetings so they can share their progress and see how they can help one another. The key here is to Reset your goals, recharge your mindset and recommit to your outcomes.

High performers know that proximity is power. They also know you need to recharge your batteries in order to get back into the game – especially if you want to finish strong.

This article was originally posted here on Entrepreneur.com.

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Setting & Achieving Goals

Your Worth Is Not Measured By Your Productivity

Clients don’t ask too many questions if they’re getting regular updates and feel as though things are moving along.

Tamryn Sher

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productivity

We live in a world that glorifies the term ‘being busy’ and down plays terms such as ‘burn out’ and ‘mental health’. After all, that’s how we measure success right. It’s ok to be burnt out, because it means you’re successful and pushing yourself. It’s unthinkable that a woman can achieve her goals if she only works an 08h00 – 17h00 right. Wrong. I recently left my corporate job, with my comfortable salary, to pursue the unknown. I’m still ‘busy’, the only difference is that I’m more flexible now.

What that means is that I can take time away from work to cook dinner, attend a family birthday etc and work my schedule around that. When I worked in corporate that flexibility was not offered. It’s about making time for the things that matter, while still ticking off my to-do list and making sure my clients feel happy, secure and taken care of. Clients don’t ask too many questions if they’re getting regular updates and feel as though things are moving along.

1. Forgive yourself

It took me some time to learn to forgive myself. For putting my career above my friends, my family and myself. In my first week as a freelancer, I had been working late nights and on the Friday afternoon I crashed at 2pm, had an hour-long nap and then carried on. I kind of beat myself up for that. Accusing myself of being lazy, telling myself I didn’t have the luxury to have a nap during the day and I was disappointed with myself. I had to learn that it’s OK to give yourself what you need, when you need it, to thrive.

Whether it’s a late afternoon power nap or saying no to new business when you’ve reached capacity. It’s OK to do you, forgive yourself for being human.

Related: 5 Surprising Elements That Boost Your Productivity (One of Them Is Colour)

2. Motivation

It’s easy to stay motivated when things are going well. It’s a different story when things aren’t going well. Remember why you started your journey, remember your training and reach out to your network. Never be ashamed of your hustle. 90% of my current business came from me reaching out to my current network. It’s amazing how once you start doing things you love; how many people want to help you succeed and support you. They need to know what you’re doing first, to offer you their business.

I also remember, when I first started telling people I had left corporate to start my own venture I always received 1 of 3 responses:

  1. Wow you’re so brave, that’s so inspiring. I wish I could do what you’re doing
  2. Wow are you sure that’s the smartest thing to do right now, you know the economy and blah blah blah
  3. Oh wow, it must be so nice being a lady of leisure, do you go for coffee dates with friends and watch series during the day.

The doubters used to scare me because, to be honest, I had a little bit of doubt myself. ‘Can I really do this, will I succeed?, what if I fail?’, those are questions I kept asking myself. Now I use the comments as motivation, whatever the comment is, you’re inspired by me, great, keep watching…. You don’t recommend I start my own business in this economy…. Cool, please watch this space. You think I drink margaritas and tan all day, ok, watch my success, while I’m sipping on this pink drink. You need to be so mentally strong to be an entrepreneur and it’s your responsibility to stay motivated.

3. Discipline

Routine is important when you’re a business owner. There will be days where you work a late night and need a little extra sleep in the am, I encourage you to get back into your routine as soon as possible though. On the days where you don’t feel like doing your work – those are usually admin days. Hack the system, go for a run, have a coffee, do what you need to do to re-set your mind and then get back into it. No-one is going to stop you from self-destructing, so keep the discipline and grind! No one is going to force you to do it, so you must force yourself.

Related: Four Ways To Boost Your Daily Productivity

4. Enjoyment

While being your own boss is tough and comes with a different set of concerns, remember why you started. Enjoy the peace of mind and happiness, realising you are in full control of your destiny. Celebrate those small wins. It’s difficult to be motivated and disciplined, to find work and keep it. Celebrate your successes, a million people are killing 8 hours a day working jobs they hate, wishing they had the courage to pursue their dreams. You’re already doing that, you’ve taken the plunge and you have a responsibility to succeed. Enjoy the process throughout the way. There’s nothing as rewarding as gaining a new client, getting great client feedback or completing a job well done.

When I worked in corporate I would kill myself to pull off a campaign, giving up sleep, family time etc. Knowing I did a kick-ass job, never once receiving praise from a client. When I heard my manager ask why she never thanked us, her response was ‘But we pay you to do this, it’s expected, please don’t ask me to thank you for doing your job, when I’m paying you to do that job’. That’s when I realised I would have to find fulfilment and enjoyment from within.

5. Repeat

You will mess up, it’s inevitable, you’re human. No matter how good you are, how committed you are or motivated you are, it will happen. Get up and keep going, pick up your crown and keep marching on. There’s no use crying over spilled milk. Whether you’re in corporate or you’re your own boss, remember these 5 tips, modify and apply them to suit your situation and remember that your worth is not measured by your productivity. You can be successful while taking care of yourself both physically and mentally. It’s time to shine!

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Setting & Achieving Goals

4 Actions You Must Take To Find Your Opportunity

There is exactly as much opportunity in the world as you’re willing to work for.

Grant Cardone

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business-opportunity

Don’t look for an industry, look for the opportunity. Opportunity is a set of circumstances that makes it possible to do something. The middle class looks for jobs to solve their problems. You need a job, but you also need opportunity. Senior students at MIT and Harvard right now don’t even know what opportunity means, they will just be looking for a job next summer. The truth is, an opportunity will solve your problems.

Here are four tips today to find your opportunity.

1. Look for opportunity

Before you can see an opportunity, you have to be looking for opportunity.

This seems basic but many people have given up on looking for opportunity. This is why there is that saying, “You wouldn’t see an opportunity if it hit you in the face.”

Opportunity can literally be right where you are but you’re blind to it.

2. Be willing to read and research

They say knowledge is power, and it’s true. You won’t find opportunity without knowledge. Everything you want, you are just a piece of knowledge away from obtaining. The only thing between you and massive wealth is the right knowledge. I’ve experienced all the delays and pitfalls that keep people in the middle class, but I was able to push beyond them to become wealthy, and I can teach you to do the same because of the knowledge I’ve obtained.

Related: How To Make Course Corrections And Finding Your Differentiator

3. You have to go for it

You have to leave where you are comfortable. Staying with mommy and daddy past the age of 25 isn’t going to work, sorry. Opportunity might mean moving out of your city or even across the country. Maybe, just maybe, you need a new passport for your opportunity. The point is, the opportunity may not be where you are because you might be a big fish in a small pond.

4. Make contacts

Everything you want, somebody else has it. Contacts equal contracts. How big is your power base? How big is your pipeline? The more people you know, the more opportunities will come your way. There’s a reason why successful network marketers make a lot of money — they prospect.

Your next opportunity might just be with someone you don’t even know yet. You need to go out and meet them.

So, what is your opportunity that you need?

Each of these four essentials — looking for opportunity, reading and researching, going for it, or making contacts — requires effort on your part.

I have a few sayings that relate to this:

  • Everyone wants to have a six-pack but doesn’t want to put in the time.
  • Everyone wants to be the boss but won’t go out on their own.
  • Everyone wants to be a millionaire but won’t spend R1 000.

I will add to this, “Everyone wants an opportunity but won’t ____.”

What’s your excuse?

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