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Setting & Achieving Goals

Which Of These 7 Personality Traits Do You Share With The World’s Richest People?

Possessing the same characteristics of extremely rich and successful people is half the battle.

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Read on to find out which key characteristics you possess.

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Warren Buffett

Multibillionaire Warren Buffett once said, “Of the billionaires I have known, money just brings out the basic traits in them. If they were jerks before they had money, they are simply jerks with a billion dollars.” What the “Oracle from Omaha” meant is that having lots of money intensifies characteristics already there. In this case, the key questions for people aspiring for money and success to ask themselves are: What are the crucial personality traits and characteristics that relate to becoming rich? And do I have them?

What research shows is that people who have made a lot of money are, in fact, different from the herd. According to Thomas Corley, the author of Rich Habits: The Daily Success Habits Of Wealthy Individuals, many of the world’s wealthiest possess a core set of personality traits and habits that have been essential in their success. In a separate study, UBS and PwC jointly assessed the personality traits of 1,300 of the world’s most successful billionaires. The findings underscored the idea that there are definitive behaviors and personality traits that the very rich possess.

To crack that nut for you, we’ve distilled ten crucial personality traits of some of the world’s richest billionaires.

Bill Gates is a lifelong learner. Are you?

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Warren Buffett and Bill Gates

At the age of 61, Bill Gates is worth $86 billion. But what’s truly remarkable is not simply his net worth, but that even at this stage of his life, he remains devoted to learning as he was as a young man coming up in the world.

Related: Top 5 Personality Traits Investors Look For In An Entrepreneur

The cofounder of Microsoft and the Bill & Melinda Gates Foundation reads about 50 books a year, mostly nonfiction. In an interview with The New York Times last year, he shared that reading is his primary way of learning and has been since childhood. The Giving Pledge founder even maintains a book review blog Gates Notes that has received considerable attention and has become a respected go-to source for the business community and beyond.

Are you patient and long-term focused, like Warren Buffett?

warren-buffett

Warren Buffett

Immediate gratification is definitely not how Berkshire Hathaway CEO Warren Buffett made his billions. The 87-year-old investment titan once said, “No matter how great the talent or efforts, some things just take time. You can’t produce a baby in one month by getting nine women pregnant.”

This sensible edict belies Buffett’s successful investment strategy. As a longtime value investor, the “Oracle from Omaha” built his empire by investing in stocks with good instrinsic value but have been undervalued by the market. And then? He waits.

His strategy takes time. However Buffett opts for a certain payoff over a high-risk, big one any day. Worth $74.9 billion as of 2017, his proof of success is in the pudding.

Jeff Bezos is always hungry for what’s next – can you relate?

Jeff Bezos

Jeff Bezos

Jeff Bezos’s personality and work habits have been repeatedly described as “intense” in one form or another. His intensity is aptly reflected in the website name he’d once considered for what eventually become Amazon: Relentless.com. (And if you type this address, you’ll be redirected to Amazon.)

Back in 1994, the CEO of Amazon (worth $75.6 billion) left his job as senior vice-president at a hedgefund to act on an opportunity selling books online. Bezos kept innovating and expanding his online retail business into what we know as today’s Amazon.

However, it’s the 53 year old’s private funding of a space manufacturing and exploration company Blue Origin and the purchase of The Washington Post in 2013, which truly demonstrate the retail mogul’s insatiable hunger to conquer unfamiliar territories. Bezos has brought his data-and-tech driven business model to the Post, and according to a recent piece in NPR, the company reports that revenue and profits are up since the sale (that includes digital ad revenue) and the site’s monthly web traffic has grown 56% over the past two years.

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

Are you upbeat and optimistic? Mark Zuckerberg is

mark zuckerberg

Mark Zuckerberg

Facebook CEO Mark Zuckerberg is a super optimistic guy. Last September, the 33-year-old tech titan, along with his physician wife, announced their foundation’s radical pledge of $3 billion toward research aimed at curing or managing all disease “in our children’s lifetime.” That’s a formidable goal.

Zuckerberg’s demonstrations of optimism don’t stop there. When both his children – Max and August – were born he published touching letters to them on his Facebook page expressing his excitement, wish for them to grow up into a better world and hope for the future.

In the area of technology, the 33-year-old tech titan is working on a Facebook-led initiative to provide internet connectivity to areas of the world that don’t have access in order to level the playing field.

And on the divisive topic of artificial intelligence, he has faced criticism from Tesla’s Elon Musk in voicing his sunny position about AI making the world a better place. It’ll take more than some shade from a Tony Stark-like futurist to darken Zuckerberg’s attitude.

Are you able to focus on multiple projects? Sergey Brin and Larry Page can

Sergey Brin and Larry Page

Larry Page and Sergey Brin

Google cofounders Sergey Brin and Larry Page have different talents and personalities that allow them to aggressively spread their combined talents to a broad bandwidth of business and expansion. Their growth model includes the acquisition of multiple companies – including YouTube – as well as the funding and development of a venture capital fund, a robotics arm, an innovation lab (once “Google X” and rechristined as “X”), an internet fiber cable unit and a longevity lab – just to name some.

Some of their projects have floundered and died, while others have prospered. However, the duo is very conscious of their cast-a-wide-net way of doing business. The now 44-year-old Page revealed in a 2014 interview, “I would always have this debate actually with Steve Jobs. He’d be like, ‘You guys are doing too much stuff.'” (On top of being the CEO of Alphabet, Google’s holding company, Page is reportedly privately funding two flying-car startups and has clean-energy interests.)

What Brin, who serves as president of Alphabet and once ran the innovation lab, has said on the matter of their widespread interests:

“We try to invest…in the places where we see a good fit to our company. But that could be many, many bets, and only a few of them need to pay off.”

Their growth gamble has paid off extremely well. According to the Bloomberg Billionaires Index, Page is worth $47.5 billion and Brin is worth $46.3 billion.

Related: The 10 Traits You Must Cultivate To Achieve Highly Ambitious Goals

Are you modest, like Amancio Ortega?

amancio-ortega

Amancio Ortega

Spanish businessman Amancio Ortega doesn’t possess the name recognition as Bill Gates or Mark Zuckerberg. The media-shy cofounder of Zara (one of the clothing brands under the retail umbrella Inditex) temporarily dethroned Bill Gates as the richest person in the world earlier this year.

The majority shareholder of Inditex (59%) doesn’t have a formal education – he never graduated from high school. However, he built his empire through a modest mindset and focus. Ortega reportedly went for 25 years without taking a vacation. Instead, he focused on closely leading his team. Shunning an office, Ortega instead chose to stand in Zara’s main design room everyday to interact with his designers. Even though he stepped down as Inditex’s chairman in 2011, he continues this practice.

His modesty also manifests in frugality. Even though he is worth $82.2 billion, he still eats lunch everyday in the company cafeteria.

Do you follow your fiercest convictions, like Michael Bloomberg?

Michael Bloomberg

Michael Bloomberg

Love or hate Michael Bloomberg, the cofounder and majority stakeholder in Bloomberg Media has demonstrated the ability to follow through on his fiercest convictions.

After he was fired from his first job out of college at Salomon Brothers, Bloomberg turned the firing into an opportunity to create a tech and media company to get traders the data and information they needed quickly.

Years later, while serving his 12-year tenure as Mayor of New York City, the now 75-year-old demonstrated a fearlessness in his leadership that sprung from his intense convictions.

Related: 3 Employee Personality Types You Definitely Want In Your Business

“Leadership is about doing what you think is right and then building a constituency behind it,” the media mogul worth $44.3 billion said to The Atlantic. “[Leaders should] make decisions as to what they think is in the public interest based on the best advice that they can get.”

His deeply held convictions led to him tackling some thorny issues while in office, such as his support of gun control and an unpopular soda tax to curb obesity.

What Bloomberg said in response to his critics at the time was, “High approval rating means you’re skiing down the slope and you never fall. You’re skiing the baby slope, for goodness’ sakes. Go to a steeper slope. You want to tackle the issues that are unpopular, that nobody else will go after.”
This article was originally posted here on Entrepreneur.com.

Carolyn Sun is a contributing editor at Entrepreneur.com. Find out more on Twitter and Facebook.

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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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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

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

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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.

WATCH THIS

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

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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 Entrepreneur.com.

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