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Archive for August, 2007

Rich vs. Poor: A Comparison for Success

1. Poor people donate money - rich people donate time because it is more valuable to them.

2. Rich people don’t use the word maybe - they prefer a straight yes or no.

3. Poor people concentrate on cash flow and earnings while rich people focus on increasing net worth.

4. Rich people experience the same fears and hesitancies as any one but realise procrastination costs money.

5. Poor people worry about making the right decision - rich people
analyse the facts and then decide anyway - as often as not using
their gut feel.

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Succeed at being comfortable with being uncomfortable

Are you sitting comfortably? I’ll bet you are. Or if not, you pretty soon will be! Because we humans like our comforts don’t we? We live in nice homes that we fill with cozy furniture and surround ourselves with things and people that we feel at ease with.

This week’s Post is all about being comfortable or, more particularly, your comfort zone, how it limits you and how you can break out of it.

There are two types of comfort – physical, where we want to experience wellbeing, and emotional where we just feel right about or simply accept what we are doing.

In the second type, some people – not us of course – are actually only comfy being miserable, moaning about life or complaining about their health. You know them, don’t you? Even uncomfortable clothing can be comfortable if it gives us an emotional check mark that we are conforming to fashion.

It’s the same with work or business projects: we get settled into a job and a particular way of doing things. We know the people we like to work with and avoid those we don’t.

We stick with it because it becomes our comfort zone – the set of things we are prepared to do without becoming anxious – inhabiting an area where it seems there’s no sense of risk.

And, as I’ve suggested, it doesn’t even have to be nice in there – plenty of people wallow in comfort zones of poverty, inadequacy and misfortune, with no apparent desire to get out.

All these things confirm our way of seeing the world. Continue reading ‘Succeed at being comfortable with being uncomfortable’

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Use Your Idle Time To Get Richer

Imagine having personal coaching by the worlds best authorities
on any topic you care to imagine?

Great speakers, teachers, philosophers, and books are available on
audio and you can play them at your leisure. My best
teachers have come to me through audiotapes. And the best thing
is that it is just so convenient. Through audiotapes and CDs, my
mentors show up on my schedule. I can listen in my car, on an airplane,
in my office, or lying by the pool. I heard once that during
our lifetime the amount of time spent in our car is the same
amount of time it takes to earn the equivalent of four PhD programs.
You can use that windshield time to learn how to do almost
anything: become rich, more successful, a better leader, or a more
effective parent. You name it and I bet there is an audio program
available on it. You can even learn how to lose weight by listening
to audiotapes—although the best way to lose weight is to stop
putting so much food in your mouth!

I have thousands of dollars invested in my audio library. It is
one of my most prized possessions. I am convinced that my audio
library has had a bigger influence on my life than any other educational
source.

In fact, I have three degrees - but the time I have used listening to experts driving
to and from university was more valuable to me than the degrees I earned!

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The 3 Key Success Traits of Millionaires

Three Qualities Millionaire’s build their Philosophy on a backbone of:

  • Mastery
  • Success
  • Charity

Let me explain in more detail. Mastery refers to continual self-improvement, mastery of oneself; being as financially successful as possible, building vast wealth; and assisting others less fortunate than oneself, being philanthropic.
The potent nature of mastery, success and charity are found in
these three highly empowering character traits common to all

Millionaires:

#1 They LEARN… increasing their treasure house of knowledge
through continual study and mastering life principles through
self-advancement. They seek personal mastery.

#2 They EARN… being as financially successful as possible to
have the wherewithal to make a constructive impact in this
world. They are purpose driven.

#3 They RETURN… giving back to society and their fellow
humans through charitable donations and benevolent deeds.
They enjoy empowering others.

There is so much more to being wealthy than just
being a person who amasses a million dollars and who is known
simply as a millionaire. The accumulation of one million dollars,
or more, is just a sign that a person (assuming it was done legitimately) is living their life
by the high standards they impose impose themselves.

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A Credit Check on Your Balance

When we go to the bank for a loan they look at our debt ratio by calculating how much we spend on housing, how much we spend using credit cards, etc. Depending on the percentages (and of course, by our credit rating) they agree or don’t agree to lend us the money we requested.
If you were to take one week and calculate your percentage for:

  • Time spent at work
  • Time spent with your family and friends
  • Time spent improving yourself (whether by taking a course or reading a book, etc.)
  • Time spent relaxing
  • Time spent sleeping

What would your ratio be? Would you say you had a balanced life?

To keep our credit in good standing, we need to ensure we keep an eye on the percentages of where our money is being allocated. If we don’t do this, we could end up with not being able to borrow money. The same principle applies to our time. Are we allocating our time in the right percentages? At times, it is difficult to keep a proper balance in our lives. But, over time, an improper balance will lead to problems such as:

  • too much time at work leads to burn out
  • too much time with family and friends can cause anxiety with your work
  • too much time improving yourself will leave little time to apply what you have learned
  • too much time relaxing can lead to issues with your work; and
  • too much time sleeping can cause all kinds of problems!

I could flip every one one of these points and comment instead on “not enough time”. But, I think you understand what I am driving at. It is balance; we need it. The sad part is that some people pay more attention to their credit than they do to their own balance in life!

Stop and assess your ratio.
Do you have a life balance?

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