In his book, Rich Habits — The Daily Success Habits of Wealthy Individuals, Tom Corley outlines several habits that distinguish the wealthy from the nonwealthy.
It got me to think, How many people operate on autopilot and don’t stop to monitor their everyday patterns? Below I’ve summarized 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.
1. Setting good daily habits.
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 realization 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.
2. 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.
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There are over 7 billion people in the world. A single trait sets a small handful apart; celebrated and emulated individuals have earned something more valuable than gold. Aretha Franklin knows the answer—R.E.S.P.E.C.T.
You can command obedience, you can cause fear, you can buy services, but respect? You’ve gotta earn that. It’s such a heavy word, filled with reverence and awe. Like an oak tree, it doesn’t grow overnight. But intentionally and mindfully living in a way that cultivates respect is an investment that will yield more than money could ever buy.
Here are 10 habits from 10 respected leaders that are more than worth mirroring and cultivating:
1. Getting Out of the Mansion: Richard Branson
Respect may elevate you, but it’s found on the ground. High flying billionaire Branson is also down-to-earth. Richard constantly chats with passengers and crew, listening to opinions with notepad in hand. When a Virgin flight was delayed in San Francisco, the in-flight team took the drink cart out to the gate and offered complimentary drinks to passengers. Richard Branson picked up the phone and praised them for their creativity.
Respected people never let their success build walls of elitism. They’re more in the mud-hut than ivory tower.
It’s difficult to be respectable if you’re not accessible. Studies show that CEOs perceived as accessible and humble evoke greater productivity and job satisfaction from staff. Stepping out of the office to chat with staff is a small but significant act.
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A productive week depends largely on what you focus on every working day and how much time you allocate to activities that take up your time (i.e. busy work). Working harder does not necessarily mean you are being productive. There will always be a better way to complete that task. Find it, work smarter and get more done in your working week.
These are a few things can do to have an insanely productive week this and every other week.
1. Stop planning, start doing.
It’s okay to make time to plan what needs to be done in the week or month but when you get back to the planning table often, you lose precious productive hours.
So instead of plan, just do it. The option to work on a task in the future instead of now seem comfortable but not prudent. While you keep telling yourself you don’t have to do it now, that task won’t go away. And somebody will have to eventually account for it. So instead of procrastinating, get on with it and check it off your to-do list.
Also, are your meetings really worthwhile? Most people spend too much time in meetings, when they should be working and getting things done. To ensure you are making the most of your time, create a time budget. This will help you realize how much time you are losing to meetings or planning when you should be doing actual work. You will be surprised at how much you can get done every week if you start tracking how much time you spend planning or meeting.
2. You don’t have to say “yes” to every request.
“The difference between successful people and very successful people is that very successful people say “no” to almost everything.” — Warren Buffet.
Saying “yes” to a request seem easier than a simple “no”. Yet every time you agree to do something for somebody that brings low or no result, it makes it difficult to have a schedule you can really control. You don’t want that. You can achieve more if you know what you have to do, when you have to it and what you expect to accomplish. All that can be done in controlled schedule.
(Photo by Sam)
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Every entrepreneur feels lost sometimes. Where are you going to find another client? Is your marketing actually working – or not? How are you going to meet payroll? Entrepreneurship is all about trying new things and innovating, rather than simply following a checklist someone else developed. But that means we often hit brick walls, and it’s easy to get discouraged when you don’t know what to do or where to turn. Here are three things to do when you have no idea what to do.
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"You can’t make up in training what you screw up in hiring."
This is one of my favorite quotes from my best boss, Jerry Nutter. Jerry shared insightful observations with his team members every day. We called his observations “Nutterisms.”
This Nutterism stuck with me. In my work with small businesses, I see the impact of lousy hires all the time. Lousy hires erode trust in the workplace. They reduce productivity. They deliver lousy service - to internal and external customers. They don’t keep their promises.
Yet those lousy hires continue to have jobs. They come in to work each day and erode team excellence and team engagement.
Business leaders usually know when they’ve made a hiring mistake. There is “noise in the system” - team members complain about that person’s behavior and negative impact. Performance is inconsistent. Customers complain. Leaders can see and feel the tension created by this person’s actions.
Leaders tell me they see three options available to help them address the lousy hire - none of which are particularly enjoyable to engage in!
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“Across the world, crowdfunding raises $2 million per day. That’s the equivalent of $87,000 per hour, or $1,400 every minute.”
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