In his book, Rich Habits – The Daily Success Habits of Wealthy Individuals, Tom Corley outlines several habits that distinguish the wealthy from the non-wealthy.
It got me to think, How many people operate on autopilot and don’t stop to monitor their everyday patterns?
Below I’ve summarised 19 of his habits for success (nine culled from his book and the next 10 from his recent article in Success) plus two of my own. If you’re not actively engaged in these 21 things, you are, in effect, leaving money on the table.
Good habits are the foundation of wealth building. The difference between successful and unsuccessful people lies in their daily habits. Simply put, successful people have many good habits and few bad ones.
If you understand that your bad habits may be preventing you from becoming wealthy, that realisation will be the first step in your improving your circumstances.
In his book, Corley invites you to take out a sheet of paper and list your bad habits in one column and then invert each one to place under a new column for good habits. It should look like this:
Bad Habit/Good Habit
- I watch too much TV. I limit myself to one hour of TV per day.
- I don’t remember names. I write down names and remember them.
Then for 30 days, follow the guidance of your new good habits list. You’ll be amazed at how much you can accomplish.
Regularly creating goals
Successful people are goal driven. They create goals all the time. They plan their day the night before with to-do lists.
People who are headed for success think for the long term. They have daily, weekly, monthly and yearly goals. But what’s a goal without a plan to reach them? So not only do successful people have goals, they also come up with ways to achieve them and hold themselves accountable.
Engaging in self-improvement daily
Successful people are always looking for ways to improve themselves. They read every day and are students of their profession. They don’t spend their time on activities that don’t bring them closer to their goals.
I recently attended an event hosted by author Brendon Burchard, who said he consistently blocks out time to create. Successful people like Burchard know that time is too valuable a commodity to waste.
They spend their time on the things that will move the needle for them in their business: Being committed to self-improvement means you engage in activities every day that will stretch you.
Seek ways to expand your knowledge. This won’t always be easy, but people grow from things that pose a challenge. Once your knowledge grows, opportunities appear.
Each and every day successful people make an effort to eat right and exercise. Eating right is of utmost importance. Exercising daily can become a regular habit, just like taking a bath.
People who exercise routinely have more energy to get things done. How are you doing in this area?
Often making time for relationship building
People who are successful are other-people focused. They take time out of their day to strengthen the bonds of friendship and form long-lasting relationships with others.
Networking is something they do all the time. They reach out to their contacts and look for ways to help them with no expectation of in return.
The most beautiful sound on Earth, I once heard someone say, is your name. So make it a goal to learn the names of every contact you meet.
Aren’t you impressed when someone remembers your name? I know I am. So stand out as different and start remembering names.
Doing things in moderation
You live in a balanced way if you do activities in moderation. This means having a balanced approach to work, eating, exercise, consuming alcohol, watching television, surfing the Internet and so forth.
As a result, people will enjoy your company. If people like being around you, then you will be more apt to collaborate or find the new business partner that you need to take your business to the next level.
Don’t put off to tomorrow what you can do today: Accomplish things. All people have fears, but successful people push past them. They don’t procrastinate. They get the important things done, no matter the cost.
In Rich Habits, Corley explains that when the thought of putting off something enters the mind, immediately shed notion by saying, “Do it now.” He says repeat these words 100 times if necessary. Just don’t stop till the task is done.
Keeping a positive outlook
Consider the most successful person you know. Is that person positive or negative? Most likely this individual is positive, enthusiastic, energetic and happy.
This person chooses to see the good in others and in himself or herself. To this person, problems are just opportunities waiting to be uncovered.
Every day people are bombarded by news of bad deeds and doings. Successful people minimise their exposure to this type of thing and instead opt to fill their minds with positive ideas from books and magazines.
Regularly saving money
According to Corley, successful individuals put away about 10 percent to 20 percent of their gross earnings in a savings, investment or retirement plan. Not everyone can afford to do so, but what percent are you putting away?
Related: How to Start a Small Business
Rejecting self-limiting thoughts
Successful people command their thoughts and emotions. As soon as bad thoughts intrude, they cast out anything that challenges their ability to succeed at the task at hand.
They do not dwell on negative notions. Their self-talk is positive and not overly critical. They replace bad thoughts with good ones.
Because successful people engage in self-improvement daily and are constantly involved in positive things, they don’t allow themselves time to indulge in negative emotions.
Wealthy people avoid overspending. Among many of those struggling financially, some are living above their means.
They spend more than they earn, live from pay cheque to pay cheque and are drowning in credit-card debt. If this is you, resolve today to turn things around for you and your family.
Many successful people read 30 minutes or more every day. Reading can increase your knowledge and know-how.
When you read, often you are seeking to improve yourself. This automatically sets you apart from your counterparts. You will stand out from the competition.
Limiting TV watching
Did you know that many successful people limit the amount their TV time to one hour or less a day? How much time do you lose in front of the television that you could be spending doing something more productive?
Doing more than what’s required
Successful people regularly go above and beyond the call of duty at work. Even if something is not in their job description, they will volunteer to do it. Wealthy people make themselves invaluable.
As an entrepreneur, you may not have a boss. But in what ways do you go above and beyond for your clients? How do you wow them?
When you listen, you learn. And as the adage goes, that’s why people have two ears and one mouth.
When you take the time to really pay attention to what another person is saying, it can truly help not only you but your bottom line as well. When you listen, you are in a better position to help others.
Not giving up
Don’t give up when the going gets tough. Successful people hang in there. They pivot. They try something new. They persist. They may have to change their direction, but they keep moving forward.
Spending time with like-minded ones
There’s a saying that goes, “Show me who your friends are and I’ll show you who you are.” I believe that.
People are only as successful as those they choose to surround themselves with. Good associations can help you more quickly achieve your goals.
Finding a mentor
Many people who have had a mentor have attributed their success to that person. Mentors can help you achieve your goals faster and keep you accountable. They can share valuable experience that can cut your learning time in half.
Knowing your why
When you know why you’re doing something, you will get what you want quicker than if you don’t.
Having a purpose is essential to being successful in business and in life. Why do you want to be successful? Why do you really want to be wealthy?
Everyone has fears. Successful people don’t allow their fears to limit or define them. Fear inevitably keeps you in the same position and stunts your growth.
Recognise your fears and seek ways to overcome them. Interview someone you admire and ask that person how he or she overcame a fear or pick up an autobiography and take notes.
If you want to get ahead, there’s only one way to do it: Become better at something than you are today.
What’s the one thing you can focus on for the next 30 days that will catapult you to rock-star status in your industry? Focus your attention on that. I heard John Lee Dumas from Entrepreneur on Fire define “FOCUS” like this: Follow one course until success. Will you?
What I know for sure is that what gets tracked, gets done. If you’re truly serious about transformation, be sure to check out my ebook, 21 Ways To Achieve Wealth and Success Plus 21-Day Resource Book.
This article was originally posted here on Entrepreneur.com.
Richard Branson’s ABCs Of Business
Throughout the year, the Virgin co-founder shared what he thinks are the essential elements to success.
If there’s one thing Richard Branson knows, it’s how to run a successful business.
Throughout last year, the Virgin founder shared what he thinks are the keys ingredients to building a successful company with each letter of the alphabet, which he slowly revealed through the 365 days.
From A for attitude to N for naivety to Z for ZZZ, check out Branson’s ABCs of success.
How Reflexively Apologising For Everything All The Time Undermines Your Career
How can you inspire confidence if you are constantly saying you’re sorry for doing your job?
I’m one of those weird people who gets excited about performance reviews. I like getting feedback and understanding how I can improve. A few years ago, I sat down for my first annual review as the director of communications for the Florida secretary of state, under the governor of Florida.
I had a great relationship with my chief of staff, but I had taken on a major challenge when I accepted the job a year prior. I didn’t really know what to expect.
Youth takes charge
I was 25 at the time, and everyone on my team was in their thirties and forties. I came from Washington, D.C., and was an outsider to my southern colleagues. I was asking a lot from people who had been used to very different expectations from their supervisor.
I sat down with my chief of staff who gave me some feedback about the challenges I had tackled.
She then paused and said to me, very directly,”But you have to stop apologising. You must stop saying sorry for doing your job.”
I didn’t know what to say. My reflex was to reply sheepishly, “Umm, I’m sorry?” But instead I immediately decided to be more cognisant of how often I said I was sorry. Years later, her words have stuck with me. I have what some may consider the classic female disease of apologising. When the New York Times addressed it, five of my friends and past coworkers sent it to me.
In it, writer Sloane Crosley got to the heart of the issue:
“To me, they sound like tiny acts of revolt, expressions of frustration or anger at having to ask for what should be automatic. They are employed when a situation is so clearly not our fault that we think the apology will serve as a prompt for the person who should be apologising.”
Topic of debate
I’ve talked at length with other women trying to figure out this fine balance. The Washington Post, Time, and Cosmopolitan have all tackled this topic. Some say it’s OK to apologise; others criticise those who are criticising women who apologise. Clearly, I’m not alone in dealing with this issue. In fact, I’m constantly telling the people I manage that by apologising they give up a lot of their power.
Here’s the bottom line: Don’t apologise for doing your job.
If you’re following up with a coworker about something they said they’d get to you earlier, don’t say, “Sorry to bug you!” If you want to share your thoughts in a meeting, don’t start off by saying, “Sorry, I just want to add…” If you’re doing your job, you have absolutely nothing to apologise for.
That’s what I think. And I’m not even sorry about it.
This article was originally posted here on Entrepreneur.com.
10 Quotes On Following Your Dreams, Having Passion And Showing Hard Work From Tech Guru Michael Dell
If you’re in need of a little motivation, check out these quotes from Dell’s CEO, founder and chairman.
There’s much to learn from one of the computer industry’s longest tenured CEOs and founders, Michael Dell. As an integral part of the computer revolution in the 1980s, Dell launched Dell Computer Corporation from his dorm room at the University of Texas. And it didn’t take Dell long before he’d launched one of the most successful computer companies. Indeed, by 1992 Dell was the youngest CEO of a fortune 500 company.
Dell’s success had been long foreshadowed. When he was 15, Dell showed great interest in technology, purchasing an early version of an Apple computer, only so he could take it apart and see how it was built. And once he got to college, Dell noticed a gap in the market for computers: There were no companies that were selling directly to consumers. So, he decided to cut out the middleman and began building and selling computers directly to his classmates. Before long, he dropped out of school officially to pursue Dell.
Fast forward to today. Dell is not only a tech genius and businessman, but a bestselling author, investor and philanthropist, with a networth of $24.7 billion. He continues his role as the CEO and chairman of Dell Technologies, making him one of the longest tenured CEOs in the computer industry.
So if you’re in need of some motivation or inspiration, take it from Dell.
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