The Compound Effect

One of my favorite self-development books that I've read is "The Compound Effect" by Darren Hardy. In this book, Mr. Hardy displays the importance of seamlessly everyday habits amounting to the big successes in life or in many cases a less favorable set of circumstances. Many of the well-known names today, folks who are Billionaires or Millionaires have stories and circumstances that will explain their success. Take Billionaire Elon Musk, many people know him as the Tesla owner and the guy who has ambitions to start a colony out of space. Many people do not know that Elon moved from Africa to the United States alone. While starting his first company he and his brother would work over 100 hour weeks. He knew that success was a numbers game. In his mind, if he was putting in 100 hours into getting better at his craft, while his competition only put in 40 hours a week success would be well within his reach. Elon's dedication led him and his brother to sleep in office space while showering at the local community center. Sometimes success requires people to become uncomfortable. Elon now has a net worth of 22 billion from the compounding of developing his skills and becoming a market innovator in his space.

In my personal experience playing football for the most winningest college football team. I can attest to the importance of beating the competition by simply being better prepared. Many times in life resources, prizes, and notoriety goes to the person who has prepared themselves. In the case of our football team, the preparation done for practice and after practice during film prepared us for an easy game on Saturdays against our opponent.

The challenge for us who are just beginning to develop our wealthy mindset is to identify what we can adjust in our everyday lives that are counterproductive to our goal. Identifying these traits that we all have and changing them with habits that promote our well being, mental toughness, and network are all action steps that those who are in an abundance of possession do. It is important to always be grateful for whatever you have in life. Being negative is a poor person's mindset and habit. If we want to increase our chances of being wealthy we'll have to be able to see opportunity and the best way to do that is through a positive lens.

Thanks,

Please comment, please share

Healthy Relationships

Healthy Relationships are one of the core pillars of true happiness. True happiness is a trait that many of the wealthy possess. Wealth means an abundance of valuable possessions or money. Healthy relationships are of key importance when you're looking to change your circumstances.  Those who stay involved with toxic relationships will cause them to think and feel a certain way about subject matters and life practices.

America's top five percent have a financial advantage over the rest of the world because of their train of thought. They operate with a paradigm much different from the rest of the population. They believe that they do have control over their lives and their current circumstances. These folks are always in the power position, no matter where their finances lie.  If your goal is to be wealthy it's a good idea to be a student of those who have had experience identifying goals and objectives. Ask yourself, how can I operate in a  similar fashion? What do I really want in life? and why do I want it?

Wealthy people value relationships with other wealthy people. Everyone goes through hardships in life, it's best to gear yourself up with positive people. To receive adequate encouragement to supplement your own goals and dreams you must associate with those who have been where you are and believe in you.

"An old Cherokee is teaching his grandson about life. “A fight is going on inside me,” he said to the boy.

“It is a terrible fight and it is between two wolves. One is evil – he is anger, envy, sorrow, regret, greed, arrogance, self-pity, guilt, resentment, inferiority, lies, false pride, superiority, and ego.” He continued, “The other is good – he is joy, peace, love, hope, serenity, humility, kindness, benevolence, empathy, generosity, truth, compassion, and faith. The same fight is going on inside you – and inside every other person, too.”

The grandson thought about it for a minute and then asked his grandfather, “Which wolf will win?”

The old Cherokee simply replied, “The one you feed.”

Find and associate with people who feed your positive inner wolf.

https://youtu.be/kpqmZSaKVQM

Be an Opportunist

In every biography that I've read the book has been featured by an opportunist who became a virtuoso through their desire to see an opportunity, not for what it is but for what it could be. In many cases, each business moguls worked as sales professionals, mere employees or franchisees of a bigger brand. Sam Walton's Made in America, Les Schwab's: Pride in Performance Keep Going, Rich Dad Poor Dad, and John D. Rockefeller's: Titan.

• Sam Walton: Worked for a franchise called Des Moines, a J.C Penney's subsidiary. He later owned 15 Ben Franklin Stores. Which his experience and success lead to what we know as today as 'Wal-Mart'.
• Rich Dad Poor Dad: Robert Kiyosaki worked with a wealthy man as a child and was paid .10 cent-20 cent a day living in Hawaii.
• John D. Rockefeller: Started off working as a bookkeeper. He maintained the ledgers for a businessman.

In each biography, the recipients came from humble beginnings and were able to springboard their current social standing through the skill of noticing opportunity. Some developed the eye from Opportunity sooner than others for example John. D Rockefeller grew up in obscurity, his Father was known to be a man of frivolousness. In response to this childhood, he became extremely self-competent as well as being habitual through his religious background. By the age of 23, John D. had established a well-known partnership and began to start his legacy.

On the other hand the opportunist reward can be a timeless factor, for example, Ray Kroc didn't become a big hit or take advantage of his greatest opportunity until he was 52 years old. Ray Kroc had desired a life of financial independence. He cultivated his mind by listening to personal development recordings. After it is all said in done the man known as the Founder of McDonald's is worth over 1.4 Billion dollars. Not to bad for a guy who didn't fulfill his life's purpose until he was Fifty so years old.

Be a Vicarious learner

Have you ever wondered why some folk seems to always have good luck or it just seems like they have the Midas Touch? The truth is, very few people have paid the price to manufacture good luck. They accomplish this through their habits. I've learned this secret from coaches and even Warren Buffet himself said, "See if you can develop the habits" when asked about his success and his view on how one could achieve a prosperous life.

I've observed an elder gentleman who was by all respects a multimillionaire read a book instead of traditional vacationing. He owned the place we were staying as well as many others, yet his habit of reading subsided over his desire to watch t.v. or listen to the latest greatest audio hits. I thought to myself, "Wow you don't see that every day". I've personally never been the type of person to not take advantage of soaking up some sun or catching up on the sports center. After picking up on some of these Wealth habits I began to connect the dots. After reading countless books and listening to hundreds of audio programs it dawned on me the reason he was successful.

Wealth Habit #1: Be Aware of why those who have objects of value (assets) and rationalize the decisions they make that produce them their luxuries in life. Many times was stuck on the luxuries and we never dive into the most fascinating part which is the process. If we study their process we can produce staggering results for ourselves too. This method will only work if we pay attention and be willing to pay the price ourselves. Only then can an individual cultivate his mind to see opportunities and have the desire to take advantage of them.

Back in High School, my Freshman high school coach's favorite saying was for us his players to be 'Vicarious Learners'. He never accepted his players to make the same mistake as the past players have made in the same practice setting. His simple saying holds a great deal of value, in sports, life, and business.