Build Your Own Business
The high road to becoming a self-made millionaire in America is starting and building your own business. But this is not as easy as it sounds. Most businesses started by inexperienced people fail.
Probably the primary reason why people don't start businesses is because they're afraid that they're going to lose their money and for good reason. 99 percent of businesses started by people lacking business experience fail within the first two or three years.
Why Businesses Fail
And why is that? It's because they don't know how to succeed. They haven't the slightest idea how to make a business successful. They may have an idea for a product or service, but they don't know all the things that they need to know to run a successful business.
Why Businesses Succeed
However, surprisingly enough, 80 percent of businesses started by experienced businesspeople succeed. Now why should this be so? The reason is because experienced businesspeople know what to do. They know how to purchase their products and their services. They know how to negotiate with their suppliers. They know how to raise money. They know how to negotiate leases. They know how to sell and to market. They know how to manage their finances. In other words, experience is the key. In order to start your own business and succeed, you have to learn how.
Competence Makes the Difference
Now according to Dunn and Bradstreet, 96 percent of businesses in America that fail, fail because of what is called "managerial incompetence". Managerial incompetence means that the people running the businesses don't know what they're doing. And here are the two critical areas of managerial incompetence that cause business failure.
First is sales and marketing. 48 percent of businesses that fail in America fail because the business cannot sell enough of its products or services. Very few businesses fail when they have high levels of sales and revenues coming in.
Control Your Costs
The second reason that businesses fail, 46 percent, is because of poor cost control. They may be selling enough on the front end, but they're losing so much on the back end that they go broke anyway. Sales and marketing, financing and cost control, both require experience. And if you're serious about becoming financially independent, you have to learn how to do both of these.
Put Luck On Your Side
You must learn the skills you need to be successful. Business success is not a matter of luck. Business success is a matter of application. It's a matter of ability. It's a matter of experience and skill and intelligence, and wonderfully enough, you can learn what you need to know to be successful. And you can start by learning through on-the-job training, which is called OJT. Most successful businesspeople become successful because they get all their training by working for someone else.
Action Exercises
First, take the time to get the knowledge and experience you need in business by working for someone else where you can learn a lot in a short period of time. Go to work in an area in which you are interested and learn everything you possibly can.
Second, read and study in business, especially entrepreneurial business, all the time. Read one or two business books per week and read every business magazine that is published on your subject.
Never stop learning and growing.
Sunday, August 24, 2008
Monday, August 18, 2008
Consider the Consequences
The mark of the superior thinker is his or her ability to accurately predict the consequences of doing or not doing something. The potential consequences of any task or activity are the key determinants of how important it really is to you and to your company. This way of evaluating the significance of a task is how you determine what your next task really is.
Long Time Perspective
Doctor Edward Banfield of Harvard University, after more than 50 years of research, concluded that "long-time perspective" is the most accurate single predictor of upward social and economic mobility in America. Long time perspective turns out to be more important than family background, education, race, intelligence, connections or virtually any other single factor in determining your success in life and at work.
Your attitude toward time, your "time horizon," has an enormous impact on your behavior and your choices. People who take the long view of their lives and careers always seem to make much better decisions about their time and activities than people who give very little thought to the future.
Think About Your Future
Successful people have a clear future orientation. They think five, ten and twenty years out into the future. They analyze their choices and behaviors in the present to make sure that they are consistent with the long-term future that they desire.
In your work, having a clear idea of what is really important to you in the long-term makes it much easier for you to make better decisions about your priorities in the short-term.
Determine the Consequences
By definition, something that is important has long-term potential consequences. Something that is unimportant has few or no long-term potential consequences. Before starting on anything, you should always ask yourself, "What are the potential consequences of doing or not doing this task?"
The clearer you are about your future intentions, the greater influence that clarity will have on what you do in the moment. With a clear long-term vision, you are much more capable of evaluating an activity in the present and to assure that it is consistent with where you truly want to end up.
Make It A Top Priority
If there is a task or activity with large potential positive consequences, make it a top priority and get started on it immediately. If there is something that can have large potential negative consequences if it is not done quickly and well, that becomes a top
priority as well. Whatever your task is, resolve to tackle it down first thing.
Keep Motivated
Motivation requires motive. The greater the positive potential impact that an action or behavior of yours can have on your life, once you define it clearly, the more motivated you will be to overcome procrastination and get it done quickly.
Thinking continually about the potential consequences of your choices, decisions and behaviors is one of the very best ways to determine you true priorities in your work and personal life.
Action Exercises
Review your list of tasks, activities and projects regularly. Continually ask yourself, "Which one project or activity, if I did it in an excellent and timely fashion, would have the greatest positive impact on my life?"
Whatever it is that can help you the most, set it as a goal, make a plan to achieve it and go to work on your plan immediately. Remember the wonderful words of Goethe, "Just begin and the mind grows heated; continue, and the task will be completed!"
Long Time Perspective
Doctor Edward Banfield of Harvard University, after more than 50 years of research, concluded that "long-time perspective" is the most accurate single predictor of upward social and economic mobility in America. Long time perspective turns out to be more important than family background, education, race, intelligence, connections or virtually any other single factor in determining your success in life and at work.
Your attitude toward time, your "time horizon," has an enormous impact on your behavior and your choices. People who take the long view of their lives and careers always seem to make much better decisions about their time and activities than people who give very little thought to the future.
Think About Your Future
Successful people have a clear future orientation. They think five, ten and twenty years out into the future. They analyze their choices and behaviors in the present to make sure that they are consistent with the long-term future that they desire.
In your work, having a clear idea of what is really important to you in the long-term makes it much easier for you to make better decisions about your priorities in the short-term.
Determine the Consequences
By definition, something that is important has long-term potential consequences. Something that is unimportant has few or no long-term potential consequences. Before starting on anything, you should always ask yourself, "What are the potential consequences of doing or not doing this task?"
The clearer you are about your future intentions, the greater influence that clarity will have on what you do in the moment. With a clear long-term vision, you are much more capable of evaluating an activity in the present and to assure that it is consistent with where you truly want to end up.
Make It A Top Priority
If there is a task or activity with large potential positive consequences, make it a top priority and get started on it immediately. If there is something that can have large potential negative consequences if it is not done quickly and well, that becomes a top
priority as well. Whatever your task is, resolve to tackle it down first thing.
Keep Motivated
Motivation requires motive. The greater the positive potential impact that an action or behavior of yours can have on your life, once you define it clearly, the more motivated you will be to overcome procrastination and get it done quickly.
Thinking continually about the potential consequences of your choices, decisions and behaviors is one of the very best ways to determine you true priorities in your work and personal life.
Action Exercises
Review your list of tasks, activities and projects regularly. Continually ask yourself, "Which one project or activity, if I did it in an excellent and timely fashion, would have the greatest positive impact on my life?"
Whatever it is that can help you the most, set it as a goal, make a plan to achieve it and go to work on your plan immediately. Remember the wonderful words of Goethe, "Just begin and the mind grows heated; continue, and the task will be completed!"
Sunday, August 17, 2008
Accepting Yourself Unconditionally
How Are You Treated By Others?
Self-acceptance begins in infancy, with the influence of your parents and siblings, teachers and other important people.
Your own level of self-acceptance is determined largely by how well you feel you are accepted by the important people in your life.
Your attitude toward yourself is determined largely by the attitudes that you think other people have toward you. When you believe that other people think highly of you, your level of self-acceptance and self-esteem goes straight up.
The best way to build a healthy personality involves understanding yourself and your feelings.
Let the Light Shine In
This is achieved through the simple exercise of self-disclosure. For you to truly understand yourself, or to stop being troubled by things that may have happened in your past, you must be able to disclose yourself to at least one person. You have to be able to get those things off your chest. You must rid yourself of those thoughts and feelings by revealing them to someone who won't make you feel guilty or ashamed for what has happened.
Understand What Makes You Tick
The second part of personality development follows from self-disclosure, and it's called self-awareness. Only when you can disclose what you're truly thinking and feeling to someone else can you become aware of those thoughts and emotions. If the other person simply listens to you without commenting or criticizing, you have the opportunity to become more aware of the person you are and why you do the things you do. You begin to develop perspective, or what the Buddhists call "detachment."
Be Honest With Yourself
Now we come to the good part. After you've gone through self-disclosure to self-awareness, you arrive at self-acceptance. You accept yourself for the person you are, with good points and bad points, with strengths and weaknesses, and with the normal frailties of a human being. When you develop the ability to stand back and look at yourself honestly, and to candidly admit to others that you may not be perfect but you're all you've got, you start to enjoy a heightened sense of self-acceptance.
Do An Inventory of Your Accomplishments
A valuable exercise for developing higher levels of self-acceptance involves doing an inventory of yourself. In doing this inventory, your job is to accentuate the positive and minimize the negative.
Think of your unique talents and abilities. Think of your core skills, the things that you do exceptionally well that account for your success in your profession and in your personal life right now.
Think About Your Future
Think about your future possibilities and the fact that your potential is virtually unlimited. You can do what you want to do and go where you want to go. You can be the person you want to be. You can set large and small goals and make plans and move step-by-step, progressively toward their realization. There are no obstacles to what you can accomplish except the obstacles that you create in your mind.
Action Exercises
First, sit down with your spouse, or a good friend, and tell him or her about something that is troubling you and is still causing you unhappiness.
Second, develop perspective on your problem by standing back from it and imagining that it was happening to someone else. What advice would you give to that person?
Third, think continually about the good experiences and accomplishments you have enjoyed in the past. Remind yourself regularly that you are a good person and you've done a lot of good things in your life.
Self-acceptance begins in infancy, with the influence of your parents and siblings, teachers and other important people.
Your own level of self-acceptance is determined largely by how well you feel you are accepted by the important people in your life.
Your attitude toward yourself is determined largely by the attitudes that you think other people have toward you. When you believe that other people think highly of you, your level of self-acceptance and self-esteem goes straight up.
The best way to build a healthy personality involves understanding yourself and your feelings.
Let the Light Shine In
This is achieved through the simple exercise of self-disclosure. For you to truly understand yourself, or to stop being troubled by things that may have happened in your past, you must be able to disclose yourself to at least one person. You have to be able to get those things off your chest. You must rid yourself of those thoughts and feelings by revealing them to someone who won't make you feel guilty or ashamed for what has happened.
Understand What Makes You Tick
The second part of personality development follows from self-disclosure, and it's called self-awareness. Only when you can disclose what you're truly thinking and feeling to someone else can you become aware of those thoughts and emotions. If the other person simply listens to you without commenting or criticizing, you have the opportunity to become more aware of the person you are and why you do the things you do. You begin to develop perspective, or what the Buddhists call "detachment."
Be Honest With Yourself
Now we come to the good part. After you've gone through self-disclosure to self-awareness, you arrive at self-acceptance. You accept yourself for the person you are, with good points and bad points, with strengths and weaknesses, and with the normal frailties of a human being. When you develop the ability to stand back and look at yourself honestly, and to candidly admit to others that you may not be perfect but you're all you've got, you start to enjoy a heightened sense of self-acceptance.
Do An Inventory of Your Accomplishments
A valuable exercise for developing higher levels of self-acceptance involves doing an inventory of yourself. In doing this inventory, your job is to accentuate the positive and minimize the negative.
Think of your unique talents and abilities. Think of your core skills, the things that you do exceptionally well that account for your success in your profession and in your personal life right now.
Think About Your Future
Think about your future possibilities and the fact that your potential is virtually unlimited. You can do what you want to do and go where you want to go. You can be the person you want to be. You can set large and small goals and make plans and move step-by-step, progressively toward their realization. There are no obstacles to what you can accomplish except the obstacles that you create in your mind.
Action Exercises
First, sit down with your spouse, or a good friend, and tell him or her about something that is troubling you and is still causing you unhappiness.
Second, develop perspective on your problem by standing back from it and imagining that it was happening to someone else. What advice would you give to that person?
Third, think continually about the good experiences and accomplishments you have enjoyed in the past. Remind yourself regularly that you are a good person and you've done a lot of good things in your life.
Saturday, August 16, 2008
The Key to Leadership
The Foremost of the Values
Winston Churchill once said, "Courage is rightly considered the foremost of the virtues, for upon it all others depend." The systematic development of the deep down quality of unflinching courage is one of the fundamental requirements for leadership in any field. Fear, or the lack of courage is more responsible for failure in management, and in life, than any other factor. It is always fear that causes people to hold back, to sell themselves short, to settle for far less than they are capable of, to do nothing to change their position in life, to break out of their comfort zone!
Eliminate Fear and Doubt
I firmly believe that you can do, have or be far more than you now know if only you could eliminate the fear, doubts and misgivings that consciously and unconsciously interfere with your realizing your full potential.
Unlearn Your Fears
If there is anything positive about fear, it is that all fears are learned, that no one is born with fears, and that having been learned, they can be unlearned. If you want to understand the role of fear in shaping the course of your life, just ask yourself, if you had a magic wand that would absolutely guarantee you success in any one thing you attempted, what goal would you set for yourself.
The Great Question
"What one great thing would you dare to dream if you knew you could not fail?" If you had no fears at all with regard to money or the criticism of family, friends, co-workers or those around you, what would you do differently? Most people can think of all kinds of changes they would, or could, make in their lives if they had no fears to hold them back.
The Origins of Fear
The development of courage begins with understanding the psychological origins of fear. The newborn child has only two fears; the fear of falling and the fear of loud noises. All other fears that we experience as adults are learned as we are growing up, primarily as the result of well-meaning but destructive criticism from our parents.
How Fears Develop
When the curious child gets into things and makes a mess, the parent scolds and punishes the child, eventually building up a pattern of fear connected with trying or getting into anything new or different. As adults, we experience this as the fear of failure, the fear of risk taking, of making a mistake, of losing or about choosing what it is that we wish to do rather than what is expected of us.
Action Exercises
First, imagine that you had no fears at all. What would you set as a goal for yourself if you were guaranteed of success?
Second, decide exactly what you want and then act as if it were impossible to fail. You may be surprised at how successful you are.
Winston Churchill once said, "Courage is rightly considered the foremost of the virtues, for upon it all others depend." The systematic development of the deep down quality of unflinching courage is one of the fundamental requirements for leadership in any field. Fear, or the lack of courage is more responsible for failure in management, and in life, than any other factor. It is always fear that causes people to hold back, to sell themselves short, to settle for far less than they are capable of, to do nothing to change their position in life, to break out of their comfort zone!
Eliminate Fear and Doubt
I firmly believe that you can do, have or be far more than you now know if only you could eliminate the fear, doubts and misgivings that consciously and unconsciously interfere with your realizing your full potential.
Unlearn Your Fears
If there is anything positive about fear, it is that all fears are learned, that no one is born with fears, and that having been learned, they can be unlearned. If you want to understand the role of fear in shaping the course of your life, just ask yourself, if you had a magic wand that would absolutely guarantee you success in any one thing you attempted, what goal would you set for yourself.
The Great Question
"What one great thing would you dare to dream if you knew you could not fail?" If you had no fears at all with regard to money or the criticism of family, friends, co-workers or those around you, what would you do differently? Most people can think of all kinds of changes they would, or could, make in their lives if they had no fears to hold them back.
The Origins of Fear
The development of courage begins with understanding the psychological origins of fear. The newborn child has only two fears; the fear of falling and the fear of loud noises. All other fears that we experience as adults are learned as we are growing up, primarily as the result of well-meaning but destructive criticism from our parents.
How Fears Develop
When the curious child gets into things and makes a mess, the parent scolds and punishes the child, eventually building up a pattern of fear connected with trying or getting into anything new or different. As adults, we experience this as the fear of failure, the fear of risk taking, of making a mistake, of losing or about choosing what it is that we wish to do rather than what is expected of us.
Action Exercises
First, imagine that you had no fears at all. What would you set as a goal for yourself if you were guaranteed of success?
Second, decide exactly what you want and then act as if it were impossible to fail. You may be surprised at how successful you are.
Friday, August 15, 2008
Think Like a Millionaire
Attitude is Everything
The most important attitude for financial success is long-term thinking. Successful people think a long way into the future and they adjust their daily behaviors to assure they achieve their long-term goals. In a longitudinal study done at Harvard University in the 50s and 60s, they studied the reasons for upward socio-economic mobility. They were looking for factors that would predict whether or not an individual or family was going to move upward and be wealthier in the future than in the present.
They studied factors like education, intelligence, being born into the right family, or having the right connections. In every case, they found individuals who had been born with every blessing in life who did poorly. They also found individuals who had been born or come to this country with no advantages at all who had been extremely successful. So what was the distinguishing factor?
They finally determined that there was only one key attitude that mattered. They called it "Time Perspective." Time perspective refers to the amount of time that you take into consideration when planning your day to day activities and when making important decisions in your life.
Time Perspective
People with long-time perspective invariably move up economically in the course of their lifetimes. When you spend weeks, months and years developing your skills and ability and expanding your experience in order to be successful, you have long-time perspective. The average professional person has a time perspective of 10, 15 and 20 years
Begin to see that everything that you are doing today is part of a long-time continuum, at the end of which you are going to be financially independent or financially unfortunate. People with short-time perspective think only about fun and pleasure in the short term. They have what economists call "The inability to delay gratification." They have an irresistible tendency to spend every single penny they earn and everything that they can borrow.
When you develop long-time perspective, you develop the discipline to delay gratification and to save your money rather than spending it. The combination of long-time perspective and delayed gratification puts you onto the high road to financial independence.
Action Exercises
First, think long-term about your financial life. Decide exactly how much you want to be worth five years, ten years and twenty years from today. Write it down. Make a plan. Take action on your plan every single day.
Second, develop the ability to delay gratification. Instead of buying something on impulse, put off buying decisions for a day, a week or even a month. Decide in advance to "think it over" before you buy anything. This can change the way you spend money almost immediately.
The most important attitude for financial success is long-term thinking. Successful people think a long way into the future and they adjust their daily behaviors to assure they achieve their long-term goals. In a longitudinal study done at Harvard University in the 50s and 60s, they studied the reasons for upward socio-economic mobility. They were looking for factors that would predict whether or not an individual or family was going to move upward and be wealthier in the future than in the present.
They studied factors like education, intelligence, being born into the right family, or having the right connections. In every case, they found individuals who had been born with every blessing in life who did poorly. They also found individuals who had been born or come to this country with no advantages at all who had been extremely successful. So what was the distinguishing factor?
They finally determined that there was only one key attitude that mattered. They called it "Time Perspective." Time perspective refers to the amount of time that you take into consideration when planning your day to day activities and when making important decisions in your life.
Time Perspective
People with long-time perspective invariably move up economically in the course of their lifetimes. When you spend weeks, months and years developing your skills and ability and expanding your experience in order to be successful, you have long-time perspective. The average professional person has a time perspective of 10, 15 and 20 years
Begin to see that everything that you are doing today is part of a long-time continuum, at the end of which you are going to be financially independent or financially unfortunate. People with short-time perspective think only about fun and pleasure in the short term. They have what economists call "The inability to delay gratification." They have an irresistible tendency to spend every single penny they earn and everything that they can borrow.
When you develop long-time perspective, you develop the discipline to delay gratification and to save your money rather than spending it. The combination of long-time perspective and delayed gratification puts you onto the high road to financial independence.
Action Exercises
First, think long-term about your financial life. Decide exactly how much you want to be worth five years, ten years and twenty years from today. Write it down. Make a plan. Take action on your plan every single day.
Second, develop the ability to delay gratification. Instead of buying something on impulse, put off buying decisions for a day, a week or even a month. Decide in advance to "think it over" before you buy anything. This can change the way you spend money almost immediately.
Monday, August 11, 2008
Build Employee Loyalty
Make Sure Your Mission and Vision Are Aligned
"The way people treat each other in companies and other organizations is affected by the common vision shared by employees, One of the deepest desires underlying shared vision is the desire to be connected to a larger purpose and one another."
- Peter Senge, author of The Fifth Discipline
A study by the American Management Association shows that when an employees' personal values are congruent with their company's values, the employees' personal lives are better, and they feel better about their jobs.
"An organization that can create an energized, higher-calling environment will have higher retention and greater productivity."
- Gregory Smith, author of Here Today, Here Tomorrow
A larger overall purpose is the key to building loyalty, and companies with loyal employees reap the rewards. Many service organizations have long-tenured employees, because the company was able to easily link into the employees' higher calling.
So the question is, "How can your company build loyalty?"
What If Your Company Builds Bombs?
Some company's products do not lend themselves to altruistic values. Let's say that your company builds computer chips for guidance systems for bombs. I am sure that it is not comforting for some employees' to know that their work produces weapons of mass destruction.
However, if the companies mission was to improve individuals' quality of life through the products that were built by also using the same computer chips to improve the guidance systems on boats or airplanes. This may be an easier mission to internalize.
A compnay must determine it's higher purpose.
For example: Do not think of building cars; instead think of providing safety, reliability and peace of mind to consumers. Once you understand your company's higher purpose, share it with employees and applicants. Post company values in your employee manual, vacancy notices, brochures, and on your web sites.
10 commandments to increase loyalty and decrease turnover
1. Clear and frequent communication. When an organization lets employees know what is happening, employees feel more included and trusted.
2. Continuous training and tuition reimbursement. Providing on-going training is important,
It is an investment in employees, which employees see as money in the bank.
3. When a company invests in its employees, the employees are more apt to invest in the company.
4. Expect greatness. When you raise the bar, employees will meet your expectations and feel important.
5. Provide career counseling. When you help employees grow in their careers, they are more apt to stay with you and feel a sense of loyalty from the compnay.
6. Invest in employees' financial futures with a matching 401k. When you have a stake in your employee's financial future, they will want to have a stake in the companies.
7. Reward and recognize employees often. Employees crave positive feedback and will be more productive when they receive it.
8. Ask employees for input on important decisions. Employees will feel important and more committed to the mission if they are involved in the decision making.
9. Institute exit interviews when employees terminate to determine why they are leaving.
Establish a family-friendly work environment. Child-care benefits and flexible schedules allow employees to spend more time with family while still achieving company goals.
10. Allow employees to work on visible projects, or add additional duties that interest them.
Loyalty to your company mission doesn't come easily. You must build it one employee at a time.
Building loyalty is much like building trust: It's easy to tear down; the challenge is to build it up and maintain it.
Action Exercise:
First: Start today to publicly applauded your employees for a job well done. Nothing makes an employee more motivated or enthusiastic about the job they are doing than to be recognized by their peers.
Second: Start to organize different types of compensation for your employees. For example: working from home one day a week or a paid personal day. Expect greatness from all of your employees and reward them for achieving it.
"The way people treat each other in companies and other organizations is affected by the common vision shared by employees, One of the deepest desires underlying shared vision is the desire to be connected to a larger purpose and one another."
- Peter Senge, author of The Fifth Discipline
A study by the American Management Association shows that when an employees' personal values are congruent with their company's values, the employees' personal lives are better, and they feel better about their jobs.
"An organization that can create an energized, higher-calling environment will have higher retention and greater productivity."
- Gregory Smith, author of Here Today, Here Tomorrow
A larger overall purpose is the key to building loyalty, and companies with loyal employees reap the rewards. Many service organizations have long-tenured employees, because the company was able to easily link into the employees' higher calling.
So the question is, "How can your company build loyalty?"
What If Your Company Builds Bombs?
Some company's products do not lend themselves to altruistic values. Let's say that your company builds computer chips for guidance systems for bombs. I am sure that it is not comforting for some employees' to know that their work produces weapons of mass destruction.
However, if the companies mission was to improve individuals' quality of life through the products that were built by also using the same computer chips to improve the guidance systems on boats or airplanes. This may be an easier mission to internalize.
A compnay must determine it's higher purpose.
For example: Do not think of building cars; instead think of providing safety, reliability and peace of mind to consumers. Once you understand your company's higher purpose, share it with employees and applicants. Post company values in your employee manual, vacancy notices, brochures, and on your web sites.
10 commandments to increase loyalty and decrease turnover
1. Clear and frequent communication. When an organization lets employees know what is happening, employees feel more included and trusted.
2. Continuous training and tuition reimbursement. Providing on-going training is important,
It is an investment in employees, which employees see as money in the bank.
3. When a company invests in its employees, the employees are more apt to invest in the company.
4. Expect greatness. When you raise the bar, employees will meet your expectations and feel important.
5. Provide career counseling. When you help employees grow in their careers, they are more apt to stay with you and feel a sense of loyalty from the compnay.
6. Invest in employees' financial futures with a matching 401k. When you have a stake in your employee's financial future, they will want to have a stake in the companies.
7. Reward and recognize employees often. Employees crave positive feedback and will be more productive when they receive it.
8. Ask employees for input on important decisions. Employees will feel important and more committed to the mission if they are involved in the decision making.
9. Institute exit interviews when employees terminate to determine why they are leaving.
Establish a family-friendly work environment. Child-care benefits and flexible schedules allow employees to spend more time with family while still achieving company goals.
10. Allow employees to work on visible projects, or add additional duties that interest them.
Loyalty to your company mission doesn't come easily. You must build it one employee at a time.
Building loyalty is much like building trust: It's easy to tear down; the challenge is to build it up and maintain it.
Action Exercise:
First: Start today to publicly applauded your employees for a job well done. Nothing makes an employee more motivated or enthusiastic about the job they are doing than to be recognized by their peers.
Second: Start to organize different types of compensation for your employees. For example: working from home one day a week or a paid personal day. Expect greatness from all of your employees and reward them for achieving it.
Wednesday, August 6, 2008
An Accumulation of Riches
Little Things Mean A Lot
One of the greatest success principles of all is called the Law of Accumulation. This law says that everything great and worthwhile in human life is an accumulation of hundreds and sometimes thousands of tiny efforts and sacrifices that nobody ever sees or appreciates. It says that everything accumulates over time. That you have to put in many, many, many tiny efforts that nobody sees or appreciates before you achieve anything worthwhile. It's like a snowball. A snowball starts very small, but it grows as it adds millions and millions of tiny snowflakes and continues to grow as it gathers momentum.Learn
What You Need To Learn
There are three areas where the law of accumulation is important. The first is in the area of knowledge. Your body of knowledge is a result of hundreds, perhaps thousands, of small pieces of information.
Any person with a large knowledge base has spent thousands of hours building that knowledge base one piece at a time. And what you see when you meet the individual is an expert in his or her field, with that high level of knowledge that makes him very valuable in the marketplace.
Save Your Money
The second area where the Law of accumulation works is with regard to money. Every large fortune is an accumulation of hundreds and thousands of small amounts of money, and the place to start is to take any amount of money that you can right now and begin to save it. When you begin to save money, it sets up a force field of energy and it triggers the law of attraction. As a result you begin to attract to you even more bits of money to add to your savings.
Attract Riches Into Your Life
Many, many successful people that I have spoken to have all told me the same story. That as soon as you start to put savings aside, it starts to attract into your life and into your work all the money that you need to achieve your goals. The reason why most people retire poor is they never put the initial savings aside to start with.
Get The Experience You Need
The third area where the law of accumulation applies is in the area of experience. You'll find that successful people in any field are those who have far more experience in that field than the average person. And there is nothing that replaces experience. Whether it's in business or entrepreneurship or management or parenting or selling or anything else. Many people do not take the risks that are necessary to move out of their comfort zone because they're afraid it won't work out.
Everything Counts
But the fact is that until you move out of the comfort zone and get the experience from making the mistakes, it's not possible for you to grow and become capable of earning the kind of money that you desire. Now here's the key to the law of accumulation. It says that everything counts. Everything that you do counts. The biggest mistake that people make is they think that only what they want to count, counts. That when you read a book, when you listen to an audio program, when you go to a course, when you go to bed early and you get up early and you work, it all counts. And it's all going on the plus side of your ledger.
Use Your Time Well
But when you watch television, waste time, hang out, fool around and so on, all of that counts, as well, and it's going on the negative side. It is a waste of your time. A person who has a great life, by the law of accumulation, is a person who's accumulated far more credits on the credit side than debits on the debit side. And here's an important point. If what you are doing is not moving you towards your goals, then it's moving you away from your goals. Nothing is neutral. Everything that you're doing is either moving you toward the things that you want to accomplish in life, the person you want to be, the wealth you want to accumulate, or it's moving you away from those goals. Everything counts. The law of accumulation says that everything counts.
Action Exercises
First, begin today to build your knowledge base in the subject that can be most helpful to you in achieving financial independence. Whether it takes a week, a month or a year to become thoroughly knowledgeable, it doesn't matter. Just get started today.
Second, get as much experience as you can in your chosen field. Start a little earlier, work a little harder and stay a little later. Take risks and try every different way you can think of to achieve your goal. This experience is invaluable and it accumulates over time.
Break out of your comfort zone and do not settle. The life that is effected is your own.
One of the greatest success principles of all is called the Law of Accumulation. This law says that everything great and worthwhile in human life is an accumulation of hundreds and sometimes thousands of tiny efforts and sacrifices that nobody ever sees or appreciates. It says that everything accumulates over time. That you have to put in many, many, many tiny efforts that nobody sees or appreciates before you achieve anything worthwhile. It's like a snowball. A snowball starts very small, but it grows as it adds millions and millions of tiny snowflakes and continues to grow as it gathers momentum.Learn
What You Need To Learn
There are three areas where the law of accumulation is important. The first is in the area of knowledge. Your body of knowledge is a result of hundreds, perhaps thousands, of small pieces of information.
Any person with a large knowledge base has spent thousands of hours building that knowledge base one piece at a time. And what you see when you meet the individual is an expert in his or her field, with that high level of knowledge that makes him very valuable in the marketplace.
Save Your Money
The second area where the Law of accumulation works is with regard to money. Every large fortune is an accumulation of hundreds and thousands of small amounts of money, and the place to start is to take any amount of money that you can right now and begin to save it. When you begin to save money, it sets up a force field of energy and it triggers the law of attraction. As a result you begin to attract to you even more bits of money to add to your savings.
Attract Riches Into Your Life
Many, many successful people that I have spoken to have all told me the same story. That as soon as you start to put savings aside, it starts to attract into your life and into your work all the money that you need to achieve your goals. The reason why most people retire poor is they never put the initial savings aside to start with.
Get The Experience You Need
The third area where the law of accumulation applies is in the area of experience. You'll find that successful people in any field are those who have far more experience in that field than the average person. And there is nothing that replaces experience. Whether it's in business or entrepreneurship or management or parenting or selling or anything else. Many people do not take the risks that are necessary to move out of their comfort zone because they're afraid it won't work out.
Everything Counts
But the fact is that until you move out of the comfort zone and get the experience from making the mistakes, it's not possible for you to grow and become capable of earning the kind of money that you desire. Now here's the key to the law of accumulation. It says that everything counts. Everything that you do counts. The biggest mistake that people make is they think that only what they want to count, counts. That when you read a book, when you listen to an audio program, when you go to a course, when you go to bed early and you get up early and you work, it all counts. And it's all going on the plus side of your ledger.
Use Your Time Well
But when you watch television, waste time, hang out, fool around and so on, all of that counts, as well, and it's going on the negative side. It is a waste of your time. A person who has a great life, by the law of accumulation, is a person who's accumulated far more credits on the credit side than debits on the debit side. And here's an important point. If what you are doing is not moving you towards your goals, then it's moving you away from your goals. Nothing is neutral. Everything that you're doing is either moving you toward the things that you want to accomplish in life, the person you want to be, the wealth you want to accumulate, or it's moving you away from those goals. Everything counts. The law of accumulation says that everything counts.
Action Exercises
First, begin today to build your knowledge base in the subject that can be most helpful to you in achieving financial independence. Whether it takes a week, a month or a year to become thoroughly knowledgeable, it doesn't matter. Just get started today.
Second, get as much experience as you can in your chosen field. Start a little earlier, work a little harder and stay a little later. Take risks and try every different way you can think of to achieve your goal. This experience is invaluable and it accumulates over time.
Break out of your comfort zone and do not settle. The life that is effected is your own.
Monday, August 4, 2008
The Causes of Money
Never Worry About Money Again
You must aim to reach the point where you have enough money so that you never have to worry about money again. The good news is that financial independence is easier to achieve today than it has ever been before. We live in the richest country at the richest time in all of human history. We are surrounded by more wealth and affluence than ever before. Your job is to get your fair share.
Financial Success Is Not An Accident
The Law of Cause and Effect applies to money as much as to any other subject. This law says that financial success is an effect. As such, it proceeds from certain, specific causes. When you identify these causes and implement them in your own life and activities, you will get the same effects that hundreds of thousands, and even millions of others have gotten. You can achieve whatever level of affluence you really want if you will just do what others have done before you to achieve the same results. And if you don't, you won't. It is as simple as that.
Your Beliefs Determine Your Success
There is perhaps no other area where universal laws are more in evidence than in the acquiring and keeping of money. In America today, there are several million men and women who have started with nothing, or deeply in debt, and achieved financial independence. Their attitudes and behaviors have been studied in great depth. We now know the keys to wealth creation better than ever before. And what we know is that your most cherished beliefs on the subject of money will be the primary determinants of how much you acquire and how much you keep over the course of your working lifetime.
Your Primary Aim in Life
Your primary aim in life should be the achievement of your own happiness. However, happiness is something that exists naturally in the absence of fears, doubts and negative emotions. One of the factors that most deprives you of happiness is worry about money. And, by the way, when we talk about money worries, we're not referring to your having too much. The problem is virtually always that people feel that they have too little money and their lives are suffering as a result.
Build a Financial Fortress
Perhaps the greatest single fear, the one that causes you more distress and unhappiness than anything else, is the fear of failure. In the area of money, you experience this as the fear of poverty and the fear of loss. Since one of the deepest needs of human nature is security, any threat to your security, real or imaginary, can cause you tremendous stress.You can only free yourself from the fears of poverty and failure by achieving a specific level of financial worth and then by building a fortress around it so that you are safe and impregnable. This achievement of financial independence is a key responsibility of adult life. No one else will do it for you.
Action Exercises
Here are two things you can do immediately to implement the Law of Cause and Effect in your financial life:
First, begin today to implement the causes of financial success in our society. This requires that you spend less, save more, invest carefully and strive toward financial independence.
Second, study other people who are financially successful who have started from little or nothing. Find out what they did to become financially independent and discipline yourself to do the same things.
You must aim to reach the point where you have enough money so that you never have to worry about money again. The good news is that financial independence is easier to achieve today than it has ever been before. We live in the richest country at the richest time in all of human history. We are surrounded by more wealth and affluence than ever before. Your job is to get your fair share.
Financial Success Is Not An Accident
The Law of Cause and Effect applies to money as much as to any other subject. This law says that financial success is an effect. As such, it proceeds from certain, specific causes. When you identify these causes and implement them in your own life and activities, you will get the same effects that hundreds of thousands, and even millions of others have gotten. You can achieve whatever level of affluence you really want if you will just do what others have done before you to achieve the same results. And if you don't, you won't. It is as simple as that.
Your Beliefs Determine Your Success
There is perhaps no other area where universal laws are more in evidence than in the acquiring and keeping of money. In America today, there are several million men and women who have started with nothing, or deeply in debt, and achieved financial independence. Their attitudes and behaviors have been studied in great depth. We now know the keys to wealth creation better than ever before. And what we know is that your most cherished beliefs on the subject of money will be the primary determinants of how much you acquire and how much you keep over the course of your working lifetime.
Your Primary Aim in Life
Your primary aim in life should be the achievement of your own happiness. However, happiness is something that exists naturally in the absence of fears, doubts and negative emotions. One of the factors that most deprives you of happiness is worry about money. And, by the way, when we talk about money worries, we're not referring to your having too much. The problem is virtually always that people feel that they have too little money and their lives are suffering as a result.
Build a Financial Fortress
Perhaps the greatest single fear, the one that causes you more distress and unhappiness than anything else, is the fear of failure. In the area of money, you experience this as the fear of poverty and the fear of loss. Since one of the deepest needs of human nature is security, any threat to your security, real or imaginary, can cause you tremendous stress.You can only free yourself from the fears of poverty and failure by achieving a specific level of financial worth and then by building a fortress around it so that you are safe and impregnable. This achievement of financial independence is a key responsibility of adult life. No one else will do it for you.
Action Exercises
Here are two things you can do immediately to implement the Law of Cause and Effect in your financial life:
First, begin today to implement the causes of financial success in our society. This requires that you spend less, save more, invest carefully and strive toward financial independence.
Second, study other people who are financially successful who have started from little or nothing. Find out what they did to become financially independent and discipline yourself to do the same things.
The Key to Motivation
Your Real Goal
Your goal is to become a transformational leader, the kind of person that motivates and inspires people to perform at levels far beyond anything that they had previously thought possible.
Keep People In the Know
Transformational leaders empower others by keeping them "in the know," by keeping them fully informed on everything that effects their jobs. People want and need to feel that they are "insiders," that they are aware of everything that is going on. There is nothing so demoralizing to a staff member than to be kept in the dark about their work and what is going on in the company.
Give Regular Feedback
One empowering behavior practiced by transformational leaders is regular feedback on performance and results. People need to know how they're doing so they can improve if performance is below standards and so that they can be proud of their successes. The more feedback you give to people, the better it is, as long as the feedback is objective and not critical. -Positive feedback is the breakfast of champions.-
Be Generous With Praise
Be generous with your praise and encouragement. Remember, people are the only asset that can be made to appreciate in value by giving them warmth, respect, approval and by creating a climate of positive expectations.
Create An Exciting Future
What companies and countries and institutions need today are courageous visionary leaders who are committed to creating an exciting future for themselves and others. You have within yourself the ability to evolve and grow as a leader and to make a real difference in the world around you. And the one thing you can know for sure about yourself is that, no matter what you've accomplished up to now, there is far more that you can do. As you practice the behaviors of effective leaders, you will grow more and more toward the realization of your full potential. It's completely up to you.
Action Exercises
First, hold regular meetings with your staff and tell them everything that is going on. Invite their comments, questions and concerns. Make everybody feel as if he or she was an insider in the organization.
Second, continually look for opportunities to give positive feedback, praise and encouragement. People need praise and encouragement like roses need rain and sunshine. Take every opportunity to make people feel better about themselves and their work.
Your goal is to become a transformational leader, the kind of person that motivates and inspires people to perform at levels far beyond anything that they had previously thought possible.
Keep People In the Know
Transformational leaders empower others by keeping them "in the know," by keeping them fully informed on everything that effects their jobs. People want and need to feel that they are "insiders," that they are aware of everything that is going on. There is nothing so demoralizing to a staff member than to be kept in the dark about their work and what is going on in the company.
Give Regular Feedback
One empowering behavior practiced by transformational leaders is regular feedback on performance and results. People need to know how they're doing so they can improve if performance is below standards and so that they can be proud of their successes. The more feedback you give to people, the better it is, as long as the feedback is objective and not critical. -Positive feedback is the breakfast of champions.-
Be Generous With Praise
Be generous with your praise and encouragement. Remember, people are the only asset that can be made to appreciate in value by giving them warmth, respect, approval and by creating a climate of positive expectations.
Create An Exciting Future
What companies and countries and institutions need today are courageous visionary leaders who are committed to creating an exciting future for themselves and others. You have within yourself the ability to evolve and grow as a leader and to make a real difference in the world around you. And the one thing you can know for sure about yourself is that, no matter what you've accomplished up to now, there is far more that you can do. As you practice the behaviors of effective leaders, you will grow more and more toward the realization of your full potential. It's completely up to you.
Action Exercises
First, hold regular meetings with your staff and tell them everything that is going on. Invite their comments, questions and concerns. Make everybody feel as if he or she was an insider in the organization.
Second, continually look for opportunities to give positive feedback, praise and encouragement. People need praise and encouragement like roses need rain and sunshine. Take every opportunity to make people feel better about themselves and their work.
Subscribe to:
Posts (Atom)