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6 Important Skills of Self-Made Millionaires

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6 Important Skills of Self-Made Millionaires

There are ambitious individuals all over the world working hard to achieve millionaire status. It is a status that most would agree epitomizes financial success. We’ve all heard countless success stories of people who have become millionaires, some even at a young age. We also know that many of these people started with nothing, which is likely where the term “self-made” comes from.

There are many paths a person can take to become a millionaire. Some have become millionaires by investing in real estate. Some have done it by building and selling a business. Some have done it by investing in other businesses. Some have done it by creating and selling digital products such as software, mobile apps or information products.

So we know that it’s possible, and we know that there are many ways that people have done it. But what we don’t often hear about are the specific skills that these self-made millionaires possess that are paramount to their ability to create substantial financial wealth, regardless of which path they take to create it.

After interviewing dozens of self-made millionaires, here are 6 specific skills that I’ve found to be common in all of them: 

 

1. They know how to manage money

Self-made millionaires know how to manage money. They know how to use the money they make to make more money. They multiply their wealth by getting their money to work for them. Most people don’t know how to make money work for them, so they never stop working for money. Most people spend the majority of their income on personal expenses and whatever is left will typically sit in a low-interest savings account.

While most self-made millionaires began by working for money, they kept personal expenses low and put their remaining income to work. They didn’t let their money sit in any one place for very long. They put it work by using it to grow their business or purchase investments that would yield a return. By minimizing personal expenses consistently for several years while continuing to re-invest as much money as possible into income-generating activities, these individuals were able to compound their wealth in relatively short periods of time.

 

2. They know how to create win-win relationships

Self-made millionaires know how to build and cultivate win-win relationships. Believing that their network is equal to their net worth, they make a commitment to cultivating relationships with people who can help them achieve their goals, and in exchange they help those individuals achieve their goals. By continuously expanding their network, they can create opportunities by connecting the right people together. And as their network expands, the number and quality of the opportunities they are presented with also increases.

 

Jim-Rohn
 

3. They can delay gratification

Self-made millionaires have the discipline to delay gratification. Most people are very impulsive and entertainment driven. They often spend money on unnecessary things that give them immediate pleasure but have no real long term benefits. Most self-made millionaires had little interest in short term pleasures as they built their wealth. They had the discipline to not waste money on unnecessary items or waste time on unnecessary activities. They made plenty of sacrifices that the average person doesn’t make, and as a result they are now able to enjoy life at a level that the average person can only dream of.

 

4. They know how to influence others

Self-made millionaires know how to influence and persuade others to help them do what they need to do. Even though the term “self-made” implies that no one else’s help was used, in reality we all require the help of others to achieve our goals. For example, a real estate investor will likely not build wealth in real estate without the help of real estate agents, appraisers, mortgage lenders, contractors, or tenants. A large goal often requires the involvement of several people. Self-made millionaires know this, and have therefore become skillful communicators. They are able to effectively persuade others to willingly contribute whatever services they can.

 

5. They are resourceful

Self-made millionaires seldom let a lack of resources stop them from achieving their goals. If they didn’t possess the resources they needed to seize an opportunity, they found someone who did and negotiated a win-win arrangement for both parties. If they needed money, they found where to get it. If they needed certain talents, they found the right people. Self-made millionaires know that a lack of resources is rarely the problem – a lack of resourcefulness is. When resources were scarce, they learned to be very efficient with what was available to them. Being efficient with a little was practice for being efficient with a lot.

“Empty pockets never held anyone back. Only empty heads and empty hearts can do that.”Norman Vincent Peale

6. They know when to delegate

Self-made millionaires are conscious of the value of their time. They deliberately spend the majority of their time on high-value activities (activities that yield the greatest return). For example, an entrepreneur whose goal is to earn $1,000,000 in a single year and is prepared to spend 2,000 hours on work-related activities, calculates that the value of one hour of his time is $500 ($1,000,000 divided by 2,000 hours). In order to achieve that goal, that entrepreneur must spend his time on activities that are worth $500 per hour to their business. All other activities need to be delegated. You can’t expect to earn $1,000,000 in a single year if you spend the majority of your time on activities that can be delegated to someone else for $20 per hour.

Self-made millionaires identify which of their daily activities are most productive in terms of growing their wealth. They focus as much time as possible on those activities and they delegate the other activities (paperwork, administration, running errands, etc.) to other people. They abide by the Pareto Principle – also called the 80/20 Rule – which states that 80% of results come from 20% of activities. Self-made millionaires invest their time in the right activities.

I would love to hear your thoughts about my article in the comment section below!

Tyler Basu is the Author of the #1 Amazon Bestselling book Lifestyle Business Blueprint, and the Publisher & Editor of Lifestyle Business Magazine, a digital magazine for lifestyle entrepreneurs. He also hosts the Lifestyle Business Magazine Podcast. To get in touch with Tyler visit www.tylerbasu.com.

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29 Comments

29 Comments

  1. Shenè

    Jul 29, 2016 at 6:54 am

    This is excellent. I would add the importance of lifelong learning.

  2. stephen ruhuma

    Feb 25, 2016 at 12:58 pm

    as i was reading i found out that i do most of these things

  3. Sree Harsha

    Feb 22, 2016 at 7:44 am

    A crisp article about self-made millionaires. Loved it. I have couple of questions for you.

    1) I was just wondering if you know of any books on “How to user our current money to make more money”.

    2) I am currently reading Tony Robbin’s Money master the game which goes into great depths of investing money and taking advantage of Compound interest but the only hurdle is I am an Indian citizen and I am not really sure about the tax implication if I invest in global stock indexes. Any suggestion on how to go about investing?(Affordable Global tax consultant ?)

    Cheers,
    Sree.

  4. David Gregory

    Oct 30, 2015 at 5:39 pm

    Refreshing perspective. Different from the typical Top 10 list you normally see.
    Money – relationships – delayed gratification – influence – resourceful – delegation.
    Couldn’t agree with you more.
    Nice article! Thanks for taking a different route

    David

    • Tyler Basu

      Nov 1, 2015 at 6:27 pm

      Thanks David I appreciate the feedback! I am glad I was able to bring some new ideas to a common topic.

  5. Andres

    Oct 30, 2015 at 10:48 am

    Excellent Article, also is important to mention the constant learning to open more investment opportunities as well.
    Cheers.

    • Tyler Basu

      Nov 1, 2015 at 6:28 pm

      Good point! Constant and never improvement / personal development is a big one too.

  6. taiwo micheal soteye

    Oct 29, 2015 at 4:49 pm

    Wow this is awesome and educative thanks a lot like really appreciate……keep up the good work …cheers

  7. Jagpal Mann

    Oct 29, 2015 at 3:02 pm

    Excellent piece of work, very motivating, delay gratification, delegation. It is really master piece write up.

    • Tyler Basu

      Oct 30, 2015 at 4:51 pm

      Thanks Jagpal glad you enjoyed this one!

  8. Eric

    Oct 29, 2015 at 2:37 pm

    What a deep thought provoking article. Everything was on point, thanks.

  9. Nelson Baptista

    Oct 29, 2015 at 1:59 pm

    Great article loved it just the right amount of information and I would like to know if there any books that I can read to better manage money or books on that matter starting from the first point to number six?

    • Tyler Basu

      Oct 30, 2015 at 4:54 pm

      Hi Nelson, thanks for commenting. It is hard to think of one single book but a few classics that come to mind are: How To Win Friends & Influence People, The 7 Habits of Highly Effective People, Rich Dad Poor Dad, Secrets of the Millionaire Mind, and The Millionaire Fastlane.

  10. AJ

    Oct 21, 2015 at 6:22 pm

    Very informative. You included some great reminders!

  11. Alexis

    Oct 18, 2015 at 4:12 am

    This was a great article and now my new go to blog for valuable content. Keep it up.

  12. Lawrence Berry

    Oct 18, 2015 at 1:49 am

    Great article! I have read countless articles on the habits and skills that self-made millionaires have and yours hit the spot. If you are going to become a self-made millionaire, you need to know how to manage money and how to cultivate relationships. One of the biggest problems that I have is networking right and cultivating relationships. That is one of the biggest things that I have seen that self-made millionaires have, the capability to help the right people. In turn, they have the right people to be able to help them obtain the level of success that they want.

    • Tyler Basu

      Oct 18, 2015 at 4:07 pm

      Thanks for the feedback Lawrence! There are definitely many articles on this topic out there. I am glad to know you feel I brought some fresh ideas to a common topic. In terms of building relationships, the best advice I can give is to add as much value to others upfront as you can. Find out how you can help someone, and if you can’t personally help them, introduce them to someone you think could. The law of reciprocity will eventually work in your favor.

  13. Suriel Ports

    Oct 17, 2015 at 9:05 pm

    Awesome!

  14. Jeremy Fremont

    Oct 17, 2015 at 5:00 pm

    Hi Tyler, thanks for the great write up. Delegate, delegate, delegate. The whole “But I can do it better myself” is unfortunately a trap many get stuck in. Thanks for a good reminder of important traits to remember of those who have achieved millionaire status.

    • Tyler Basu

      Oct 18, 2015 at 4:04 pm

      No problem Jeremy, I am glad you appreciated the reminder!

  15. Tyler Basu

    Oct 17, 2015 at 3:10 pm

    Hey Ethan, thanks for commenting! Yes, delaying gratification is a tough one, especially when people around you are out having fun, taking vacations, buying new toys, etc. It takes a lot of discipline to deny yourself those things while you focus on building wealth. Short term sacrifice for long term gain =)

  16. Karen Bolds

    Oct 17, 2015 at 1:49 pm

    I need knowledge in my business I have a pizza place and trying to find the right people is a problem

  17. Tau Rai

    Oct 17, 2015 at 11:48 am

    Fantastic article indeed! Number 1 and 6 got me thinking quite deeply. For someone running a one-man consultancy firm I find myself spending hours on low paying activities – fear of delegation! I can safely cry wolf here. Mixing business and personal finances has killed some of my business relationships over the years.

    I am coming out of all this today. I am committed to posting this article on my small office board.

    Thank you!

    • Tyler Basu

      Oct 18, 2015 at 4:03 pm

      Hey Tau thanks for commenting! Have you considered hiring a VA (virtual assistant)? Finding someone to work for you, even just part-time, is a great way to start delegating those low-level tasks. If you’re somewhat of a perfectionist, just record your computer screen as you do the task yourself, explain how you’re doing it, then give the training video to your VA so they can handle it just as well as you do =)

  18. Ethan Bridges

    Oct 17, 2015 at 10:59 am

    Hi Tyler,

    Your article is great!

    For some reason, #3, delaying gratification, struck me the most. Overcome yourself first and you can most probably overcome anything else 🙂

    Thanks!

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Success Advice

Why Smart People Think Beyond Reason to Make Powerful Decisions

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How long has it been since you’ve had a tough decision to make at work? I bet it happens regularly, if it is not on a daily basis. Sure, making decisions can be exhilarating, but it can also be draining. Sometimes dreadful.

Your pulse accelerates, you start to sweat, your mind jumps from one point to the next, hoping to settle on something. You really want to make the right decision for you, for your team, for your organization. But often times, it can be a tough call. You wish you had the perfect step-by-step recipe to get to the right decision.

Well, in fact, decision-making is quite a complex process for everyone. So much that it is a very popular topic in management research.

For decades, academics have observed and interviewed successful senior leaders to understand and model the thought process that take them to the right decision. These studies resulted in the inescapable rational process. Which we are all very aware of.But what if there was a better way to make decisions that doesn’t just rely on rational thinking?

The problem with rational thinking

rational thinking

We are trained from an early age to develop our rational abilities. We are taught to systematically gather the relevant data, to analyze it, to design options and evaluate them, until we make the final decision. It is as a slow process requiring conscious and sustained effort. Our rational thinking make progress step by step and draws a logical conclusion. And that’s great. Indispensable.

I couldn’t agree more. I hold a Bachelor of Mathematics, and a scientific Master’s degree in Management. My natural preference is rational thinking. However, I must admit that rational thinking can be wrong. Or jammed, unable to decide.

I mean, do you always have enough time to gather data, analyze, evaluate options and decide? Do you always have all the data that is necessary? Does it sometimes happen, on the contrary, that you have so much data that it is overwhelming and you can no longer distinguish the forest from the trees? What if there was another way?

Rational thinking is not your only option

rational thinking

Senior leaders realize, and researchers have found out, that all decisions are not, or are not only, based on rational thinking. Decision-making also leverages … intuitive thinking. Smart leaders consider their intuitions — in addition to their rational analysis — when making decisions.

And the truth is, leaders consider their intuitions — in addition to their rational analysis — when making decisions:

“90% of the 60 leaders who participated in a study reported using their intuition in combination with rational data analysis. They found that their decisions were accelerated, and were better.” (Burke, Miller, 1999)

“Managers at the top of every [of the 2000] organizations surveyed scored higher than middle or lower-level managers on their ability to use their intuition to guide their key decisions.” (Agor, 1986)

This is a well-kept secret, isn’t it? I bet you rarely hear someone at work trying to convince you that this decision is better because his instinct says so. We would rather emphasize the extensive research and analysis we have done to give credibility to our decision.

However, it doesn’t mean that intuition is not instrumental to the process. So, let me explain what intuition is, exactly.

How intuition helps you reach the right decisions

intuition

Neuroscience understands that the human brain thinks in two different ways. There’s the rational process, as described above, and the intuitive process. The latter is not esoteric, magical, nor is it about a premonition.

Intuitions are the conclusions that spontaneously raise to your consciousness, without you being aware of the intermediate stages — although it is often possible to justify your intuition after the fact.

Imagine meeting someone for the first time. Within a blink of the eye, you have an opinion of the person. That’s an intuition. And, contrarily to reason, intuition is incredibly fast. Intuitions are conveyed to your consciousness by your emotions. The first thing that comes to mind is the feelings you have for this person. You like or dislike, you trust or you don’t.

Rather than dissecting information, the intuitive process of the brain makes connections almost instantaneously based on your experiences. By analogy and association, it synthesizes and jumps to conclusions. Beneath the surface, when you meet this person for the first time, your brain finds similarities with people you’ve known in the past, and concludes.

Intuition is thus essentially based on the knowledge accumulated through your experiences, all too often forgotten, and on the models of the world that you have created for yourself, of which you are often not aware of. You may or may not realize that this person in front of you reminds you of the type of people you don’t trust, as an example.

In fact, because it is spontaneous and effortless, intuition is the way of thinking that drives the majority of the decisions you make in a day. If the stakes are not high, intuition will prevail, it is so much easier and efficient. Whether you are conscious of it or not. Whether you like it or not.

Here are a few examples:

  • You slow down your car in traffic, because you instinctively understand that the car on the other lane is trying to cut you off.
  • You pick clothes in your closet that feel comfortable if you don’t have an official meeting today. You don’t need to rationally think over your choice.
  • You accept an invitation without hesitation because it feels exciting and you have time. No need for some complex thinking here either.

Does that mean you should always listen to your intuition?

listen to your intuition

Now, is this to say that your intuition is always right? Sorry, it is not the case. The quality of your intuitions depends on the quality of the knowledge you hold, and thus of your learning.

In fact, as you are getting experienced in your job, as you face numerous situations and overcome challenges, you develop mental models on the appropriate ways to react. That’s called expert intuition. It explains why senior people can make decision swiftly, without hesitation, and without a long rational process.

Your expertise may not only be related to your job. You can also be an expert in human relations, for example. If you have always been fascinated by people, and an avid observer of good and not-so-good interactions, you may intuitively know how to react with difficult people or situations.

However, a word of caution. Intuition can also tap into your biases and your fears. In those occasions, intuition could be wrong, and it is really difficult to tell when this happens. Intuitions, at the end of the day, are no more no less than assumptions. That’s why engaging both rational thinking and intuitive thinking is so important.

How smart people use intuition to make the best decisions

using your intuition

Let’s say you are in a restaurant. You read the menu, and choose one food rather than another according to how you feel about it. It is then your intuitive process that intervenes, without real awareness of what leads you to that choice.

That being said, if you are following a particular diet, you may rule out your initial choice. You can be the impartial observer of your feelings. You can decide to slow down for a second and have your rational thinking intervene to choose more proper food for you. You have a veto power over your intuitions.

The same holds true for decisions made in a professional context, even for the most rational of us. You have intuitions, and you have rational thoughts.

Let me ask you a question: When you have a decision to make, how would you describe your typical thought process?

  1. You spontaneously have a feeling of what the right decision is, and then you engage your rational thinking to confirm whether or not your intuition is right. That is called strategic intuition.
  2. You first collect data, you analyze it, you evaluate your options, you make a rational decision and then you stop for a moment to perceive how you feel about the decision. That’s called conclusive intuition.

Strategic intuition and conclusive intuition are both efficient. But it speaks to your natural preference, and to the level of experience you hold. The more experience, the more mental models you developed over time, and the easiest it is for your brain to make connections and associations, and thus generate intuitions.

In both instances, integrating intuition and reason increases dramatically the potential for you to make the right decision.

Intuition is really an assumption your brain makes based on your experience. Relying solely on your intuition could be risky, unless you don’t have the time to analyze the situation rationally — for example, in the middle of a heated discussion, or a particularly stressful situation.

Depending solely on your reason is also suboptimal. Your brain has the capacity to detect information beneath the surface which could have a crucial impact on your decision. Ignoring it could lead you to the wrong conclusion.

The more you navigate between the two processes, the more knowledge you tap into, the better the decisions, and the more you can adapt to circumstances. You can decide how much you rely on one or the other — or both. It is a matter of choice, and practice.

Make the best use of your brain’s powers to make smart decisions

brain power

Imagine that going forward, you listen to the little voice inside of you, in addition to proceeding systematically, rationally.

Imagine that going forward, you navigate between your reason and your intuition. You dig deeper into your feelings, the voice of your intuition, and challenge your reason. Similarly, you observe impartially feelings that arise, take a step back, and apply your veto if you know better.

Navigating between your reason and your intuition, you tap into the knowledge you are aware of at a conscious level, and also into the wisdom you hold beneath the surface. Chances are that you will make better informed decisions, even if time is short, data is insufficient, or contradictory.

As a senior leader once told me:This will make the difference between a potential of success, and an assured failure.

References:

This article is based on the research I performed for my Master’s thesis (2017). The full bibliography includes over 100 articles and books, of which:

BURKE, Lisa A., MILLER, Monica K., Taking the mystery out of intuitive decision-making Academy of Management Executive, Vol. 13, №4, p. 91–98, New York, Academy of Management, 1999

AGOR, Weston H., The Logic of Intuition: How Top Executives Make Important Decisions, Organizational Dynamics, Vol. 14, №3, p. 5–18, Amsterdam, Elsevier, 1986

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Success Advice

5 B.S. Facts About High Performers Everyone Thinks Is True

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high performers
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High performers are often seen in the world as people who set their mind on something and make it happen regardless of what it takes to get it accomplished. Much of the time that may be true. However, the way high performers are seen in the world is often in direct conflict with the way they behave when people aren’t watching. Even though they are seen as amazing experts and masters to others, they often see themselves as in need of improvement and can feel dissatisfied with the results they have achieved.

Despite how they appear, they are not much different than you or me with one exception. High performers are totally committed to what it is that they are doing. They function within the uncertainty of daily life just as you do but they conquer their limitations differently. Whether the odds are stacked with them or against them, a high performer will be totally committed to reaching their goals.

You may even be a high performer yourself and don’t realize it because some of your habits would not be considered high level ones. It is common for individuals to compare their accomplishments to others based on what we observe as their results.

“Everyone can rise above their circumstances and achieve success if they are dedicated to and passionate about what they do.” – Nelson Mandela

In fact, you may have lowered your personal bar of excellence because you thought you didn’t measure up to those that always seem to land at the top no matter what. I think you’d be surprised to learn that many very successful high performers don’t function the way you think they do.

Here are 5 B.S. facts about high performers that everyone thinks is true:

B.S. Fact #1 – Perfection is the way they play their game

You would think that in order to appear perfect you would probably need to do everything perfectly. It’s so not true! High performers actually pursue excellence as a goal and not perfection. It allows them to get more done with a higher level of consistency and sets them up for success rather than failure.

B.S. Fact #2 – Organization is their secret weapon

Just take a look at the desk of a genius. You probably wouldn’t be able to see the surface beneath the stacks of books, papers and whatever else may be on top of it. High performers typically have a formula as to where they put things and why. To the observer, it’s usually just a big mess with no identifiable system. However, I assure you, a high performer will still know where everything is regardless of the chaos that surrounds their personal space and schedule.

B.S. Fact #3 – They’ve all walked Ivy League hallways

Though it is true that many well educated people reach great success, statistically, some of the most influential success stories are about people who lacked resources and education. High performers will always seek out whatever or whoever is available so that they can learn what they need to and create their vision despite whatever odds happen to be stacked against them.

B.S. Fact #4 – They don’t have squirrel brain

Focus. It seems like this would be the number one rule to follow on the road to results.  However, there are many high performers who get distracted by people and ideas that totally derail them from what they were doing. Often times, it is not their focus but their agenda that keeps them on track. They know what they need to do even if it doesn’t always get accomplished in the way they thought they would get it done. However, it always gets done.

“High achievers spot rich opportunities swiftly, make big decisions quickly and move into action immediately. Follow these principles and you can make your dreams come true.” – Robert H. Schuller

B.S. Fact #5 – They see themselves as the king of the jungle

Confidence seems to pour out of those who always seem to succeed. When, in reality, so many high performers struggle with it. Questioning whether or not they’re doing the right things or whether what they’re doing is good enough can be a constant personal dialogue. Fear of being negatively judged is the biggest reason why most people don’t take chances or take action on their big dreams but high performers move forward anyway. Their insecurity doesn’t stop them from what they want.

So, why should it matter to you what is fact or fiction about high performers? The answer; because you will compare yourself to others at times and it would be a tragedy if you stopped yourself from achieving big goals due to a belief that you’re not as good as someone else.

High performers achieve results. They know what they want, they plan it and they achieve it. Just because you have a few habits that won’t get applauded if people actually knew about them doesn’t mean that you can’t be one of the experts or podium finishers too.

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Success Advice

Do You Want to Become a Leader? Read This First

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leadership
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How do you become an adult in a society that doesn’t ask for sacrifice? How do you become a man in a world that doesn’t require courage? The test of leadership isn’t done on the couch, discussing things with internet trolls and commentators. Leadership, like philosophy, is action-based and can’t be separated from that into a purely theoretical field.

To become a leader, it isn’t enough to read about it, you need to live through it. That leads us to the first point.

1. Experience trumps theory

Theory and practice are the same in theory, but they are not the same in practice. For you to become a leader, you need to put yourself in situations which demand leadership. If you are at home trying really hard to think about situations where leadership is required and can’t find a place where that can happen, you are not thinking about the problems in your life and community.

Leadership is about going through uncertainty while showing people a better way. So any area of life where there is uncertainty is an area where there is a possibility for leadership to emerge.

You don’t have to lead a company of 10,000 employees to experience leadership, you can do it in a local community of 5 people or as I did in a leadership organization with 200 people. But leadership doesn’t start with leading other people, it starts with leading yourself.

“Leadership is practice not so much in words as in attitude and in actions.” – Harold S. Geneen

2. To lead others, you must learn to lead yourself

Telling other people what they need to do is “easy.” Showing the way yourself is a hundred times harder. Because what you do speaks so loud that people can’t hear what you’re saying. In other words, leadership is about having personal integrity and practicing what you preach. You would never follow the advice of a fat personal trainer, a broke accountant, or a real estate agent who doesn’t even own a dog house.

You either lead by example or you don’t lead at all. But the thing is that this is easier said than done. I remember when we had a crisis in our team back in 2013. Every single person from the team quit, leaving the president and me alone to fight the battle. My integrity of not quitting didn’t let me walk away and we kept pushing together.

That’s what leadership is about – you need to walk the talk. Because to lead yourself and to lead others, you need to make decisions which follow up your integrity. That leads us to the third point.

3. Leadership is about making the right, painful decisions

If you choose easy decisions, your life will be hard. If you choose hard decisions, your life will be easy. And there are numerous decisions which leaders did in the past which have been hard at the moment. But when you’re a leader, you don’t make decisions on a scale of easy-hard, you make them on a scale of right-wrong.

Firing the VP of sales is always hard. But doing it because he violated the principles of the company makes it right. It’s a trade-off 90% of people are not willing to make and I see it day in, day out. As soon as a decision becomes hard, people start doubting their values, morals, and integrity. They let the fear of uncertainty cloud their judgments and they make an easy call.

They let the VP stay because it’s the easy thing to do and with that, they seal their fate. Leadership is painful and it always was. I remember when I had to let 20 people go or fire two of my VPs. Was it hard? Of course it was. But it was the right thing to do. This doesn’t make the decision any easier, but it makes it bearable.

You know where you need to lead people and even though there is massive uncertainty, you need to be certain that you will figure out any problem that comes in front of you. Which brings us to the last point.

“Leaders think and talk about the solutions. Followers think and talk about the problems.” – Brian Tracy

4. You need to have unyielding faith that you will prevail in the end

You don’t need to know every step of the way, but you need to know how you will react to problems. You need to be sure, absolutely, that you will deal, manage, and handle every single problem that comes your way and that your team and people who you lead are unstoppable on their way to achieving the vision.

This is unquestionable. You have no idea what will attack you, but you are certain that you will handle it. This is how you lead people through everything in life. This is how Shackleton led his expedition for 2 years on the Antarctic and how every single one of his people survived the hardships that attacked them.

Because people turn to the leader in face of trouble and that’s when you show your true face. Do you show your weak side, flounder, and run? Or do you stand strong like a supporting rock on which people can lean on?

When you deal with fire, you will learn how to defeat it without having your people get burned. You will sacrifice yourself and gain scars which don’t serve as a sign of victimhood but as a proof of courage. Are you gonna be courageous or are you gonna run away? There is only one way to find out.

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Success Advice

This Is Why Most People Give Up On Their Dreams — I Plead With You Not To Become One Of Them.

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We all have a dream even if we haven’t realized it yet. It could be something as simple as raising a family, or it might be more extreme like winning an Olympic gold medal.

No matter the dream, most people give up on their dream.

I’m pleading with you not to be one of those people. You can achieve your dream when you understand why people give up in the first place.

Here’s why most people give up on their dreams:


They failed once before.

Many people try something once and when they fail, they give up. That’s because nobody tells you that achieving your dream doesn’t happen the first time around.

You have to try and try again until you reach your goal.
The problem is it’s easy to try once, fail, and then say “I already tried and I didn’t win.”

We give in so easily because the upside is a life of excuses.

We give in because we can live through the heroes of our favorite Netflix show.

We give in because in some ways there is a reward. Giving up gives you permission to sit on the couch, eat junk food, be angry at the world on social media and sleep in your nice warm bed

The problem is that this life sucks. You’ll get tired of it. One day you’ll want to chase your dream again, but you might be old, frail and full of regrets.

I’m pleading with you not to choose this option.


They got told no.

You don’t need permission — remember that. You are going to get told no hundreds of times in your life. With every dream you have, there’s going to be some fat, lazy slob that’s going to be standing in your way.”

Push through these people — flubber and all. Don’t let someone else’s laziness or issues with your dream stop you.

Ignore the no and get right back to it. Ask them again. Ask someone else.

Ideally, don’t ask them at all. I never asked to be a blogger I just did it. Certain publications turned me down and I kept writing.

Not everyone understands your gifts or potential and that’s fine. The main point here is that you understand.

I’m pleading with you to not give up because of a no. Make the no your motivation instead.


They don’t see failure for what it is.

Failure is nothing more than the inevitable education that any person who achieves their dream goes through.

Failure is so important that I personally like to pay money for it. I wish there was a shop or course I could do that would guarantee me failure instead of success. I want you to want the failure because that’s where all the answers are.

Once you know what doesn’t work, you’ll have a path forward. Change the word failure into education.

I’m pleading with you to fall in love with failure and not to give up on your dream.


Boredom strikes like thunder.

Everyone gets bored. I watched a documentary where Usain Bolt was training for the Olympics and even he admitted that he got bored after he won a few gold medals.

Boredom is normal, but it’s why a lot of people give up on their dreams.

It’s in the moments of boredom that you give your mind a chance to rest. Doing nothing and being lazy for a few hours can often bring a spark of creativity. No one is motivated 100% of the time — not even me.

It’s up to you to add some variety into your day, so you don’t get stuck in boredom forever.

Boredom can also be a good sign as well. It can be a sign that you need to change your approach or do things in a new way.

I’m pleading with you not to be afraid of boredom. Use boredom to your advantage.


They stop believing in themselves.

Your dreams are not easy (obviously). The rejection, failure and setbacks you’ll achieve can bring you down. What messes people’s dreams up is they stop believing in themselves.

Everything starts to fall over when you don’t believe in yourselfYou have to believe you can do it before anyone else will buy into that idea. The challenge is that you’re going to need help to achieve your dreams. You can’t do it alone.

You’ll never get that help unless you can get people to believe what you believe.

I’m pleading with you to believe in yourself no matter what. You have this dream for a reason and you can do it.


They are stuck on one strategy.

Many people live their entire life based on one strategy or one arbitrage. They refuse to change and so eventually the environment around them changes which affects their ability to reach their dream.

If you’re set in your ways and won’t change your approach, you’ll probably fail. We all imagine how our dream should look yet sometimes the reality is different.

You have to be open to change. In my experience, my original dream looked much different and I’m glad it’s changed. Changes to your dream are for the better.

I’m pleading with you to be open-minded.


They are surrounded by an army of morons.

If everyone around you is telling you you’re an idiot and they don’t respect your dream for what it is, this will have a negative impact on you whether you like it or not.

Run away from the dream killers who are making up for their own broken dreams and surround yourself with people who support you

The best people are the ones that support you but don’t always agree with you. Even better are the ones that support you and challenge your thinking. 
I’m pleading with you to reassess the people around you.


They want security.

No dream comes with an insurance policy or a set path. People are afraid to take risks and want reassurances when they pursue their dream.

There are none. Dreams are made off the back of taking calculated and clever risks most of the time. If you want someone to guarantee your dream, then it ain’t going to happen.

It’s the unpredictability that makes dreams addictive, delicious and worth the effort. Not knowing is what our mind craves — we just don’t know it. If we knew how our dream turned out, we wouldn’t be as excited.

I’m pleading with you to take a risk or two.


They refuse to be disciplined.

Nothing worth achieving can be done without discipline. There’s work involved and that has to be scheduled and executed upon.

I’ve written every single week since 2014. That takes bloody discipline.

My discipline reflects my results in the blogging world. The same applies to your own dream.

Block out chunks of your calendar and get to work. If you’re not doing at least one small thing towards your dream every day, then you’re heading in the wrong direction.

I’m pleading you to put in regular work towards your dream.


The greener grass syndrome.

Another reason we give up is not because we’re lazy necessarily but because we failed and there is a better option. That’s what our mind tells us.

I didn’t fail; I just found something better,” you say to yourself.

Well, that’s the sad truth.

“Changing your idea of success consistently is not the answer. At some point, you need to decide to chase one dream and quit the ADHD dream chasing the average person chases. You’re better than that”

Worrying about what everybody else is doing and then chasing their dreams is ridiculous.

I’m pleading with you not to fall for this lie. The grass is not greener it just requires more work than you anticipated.


Final thought.

Please, please, please don’t give up on your dream. You’re closer than you think. You just need to stand back and think about a few of the points I’ve mentioned.

Broken dreams have birthed so many broken people.

It doesn’t have to be that way. See your dream for what it is: Something special that you can achieve if you put your mind to it, focus and be excited by the possibilities.

Don’t give up on your dream.

<<<>>>

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Entrepreneurs

5 Productivity Tactics to Help You Win as a Creative in Your Online Business

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The shift in business has made online entrepreneurship as easy as visiting your local grocery store. The possibilities are endless and the variety is abundant. As creative entrepreneurs, your mind is always powered on flying through hundreds of ideas, thoughts and visions at any given moment. It’s the Jekyll-Hyde of being overwhelmed with too many ideas or a drought of none. (more…)

Heidi Kurter is a world traveler currently living in Ulsan, South Korea. She left her corporate Human Resources position 14 months ago to pursue a life of entrepreneurship and travel. She is now an HR, Leadership & Development Coach and Corporate Consultant providing leadership and development strategies for entrepreneurs and organizations across the globe. Heidi combines her passion for HR and Leadership & Development to empower stuck, struggling and overwhelmed individuals into empowered leaders for their life and business. You can find her on Facebook or www.heidilynneco.com

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29 Comments

29 Comments

  1. Shenè

    Jul 29, 2016 at 6:54 am

    This is excellent. I would add the importance of lifelong learning.

  2. stephen ruhuma

    Feb 25, 2016 at 12:58 pm

    as i was reading i found out that i do most of these things

  3. Sree Harsha

    Feb 22, 2016 at 7:44 am

    A crisp article about self-made millionaires. Loved it. I have couple of questions for you.

    1) I was just wondering if you know of any books on “How to user our current money to make more money”.

    2) I am currently reading Tony Robbin’s Money master the game which goes into great depths of investing money and taking advantage of Compound interest but the only hurdle is I am an Indian citizen and I am not really sure about the tax implication if I invest in global stock indexes. Any suggestion on how to go about investing?(Affordable Global tax consultant ?)

    Cheers,
    Sree.

  4. David Gregory

    Oct 30, 2015 at 5:39 pm

    Refreshing perspective. Different from the typical Top 10 list you normally see.
    Money – relationships – delayed gratification – influence – resourceful – delegation.
    Couldn’t agree with you more.
    Nice article! Thanks for taking a different route

    David

    • Tyler Basu

      Nov 1, 2015 at 6:27 pm

      Thanks David I appreciate the feedback! I am glad I was able to bring some new ideas to a common topic.

  5. Andres

    Oct 30, 2015 at 10:48 am

    Excellent Article, also is important to mention the constant learning to open more investment opportunities as well.
    Cheers.

    • Tyler Basu

      Nov 1, 2015 at 6:28 pm

      Good point! Constant and never improvement / personal development is a big one too.

  6. taiwo micheal soteye

    Oct 29, 2015 at 4:49 pm

    Wow this is awesome and educative thanks a lot like really appreciate……keep up the good work …cheers

  7. Jagpal Mann

    Oct 29, 2015 at 3:02 pm

    Excellent piece of work, very motivating, delay gratification, delegation. It is really master piece write up.

    • Tyler Basu

      Oct 30, 2015 at 4:51 pm

      Thanks Jagpal glad you enjoyed this one!

  8. Eric

    Oct 29, 2015 at 2:37 pm

    What a deep thought provoking article. Everything was on point, thanks.

  9. Nelson Baptista

    Oct 29, 2015 at 1:59 pm

    Great article loved it just the right amount of information and I would like to know if there any books that I can read to better manage money or books on that matter starting from the first point to number six?

    • Tyler Basu

      Oct 30, 2015 at 4:54 pm

      Hi Nelson, thanks for commenting. It is hard to think of one single book but a few classics that come to mind are: How To Win Friends & Influence People, The 7 Habits of Highly Effective People, Rich Dad Poor Dad, Secrets of the Millionaire Mind, and The Millionaire Fastlane.

  10. AJ

    Oct 21, 2015 at 6:22 pm

    Very informative. You included some great reminders!

  11. Alexis

    Oct 18, 2015 at 4:12 am

    This was a great article and now my new go to blog for valuable content. Keep it up.

  12. Lawrence Berry

    Oct 18, 2015 at 1:49 am

    Great article! I have read countless articles on the habits and skills that self-made millionaires have and yours hit the spot. If you are going to become a self-made millionaire, you need to know how to manage money and how to cultivate relationships. One of the biggest problems that I have is networking right and cultivating relationships. That is one of the biggest things that I have seen that self-made millionaires have, the capability to help the right people. In turn, they have the right people to be able to help them obtain the level of success that they want.

    • Tyler Basu

      Oct 18, 2015 at 4:07 pm

      Thanks for the feedback Lawrence! There are definitely many articles on this topic out there. I am glad to know you feel I brought some fresh ideas to a common topic. In terms of building relationships, the best advice I can give is to add as much value to others upfront as you can. Find out how you can help someone, and if you can’t personally help them, introduce them to someone you think could. The law of reciprocity will eventually work in your favor.

  13. Suriel Ports

    Oct 17, 2015 at 9:05 pm

    Awesome!

  14. Jeremy Fremont

    Oct 17, 2015 at 5:00 pm

    Hi Tyler, thanks for the great write up. Delegate, delegate, delegate. The whole “But I can do it better myself” is unfortunately a trap many get stuck in. Thanks for a good reminder of important traits to remember of those who have achieved millionaire status.

    • Tyler Basu

      Oct 18, 2015 at 4:04 pm

      No problem Jeremy, I am glad you appreciated the reminder!

  15. Tyler Basu

    Oct 17, 2015 at 3:10 pm

    Hey Ethan, thanks for commenting! Yes, delaying gratification is a tough one, especially when people around you are out having fun, taking vacations, buying new toys, etc. It takes a lot of discipline to deny yourself those things while you focus on building wealth. Short term sacrifice for long term gain =)

  16. Karen Bolds

    Oct 17, 2015 at 1:49 pm

    I need knowledge in my business I have a pizza place and trying to find the right people is a problem

  17. Tau Rai

    Oct 17, 2015 at 11:48 am

    Fantastic article indeed! Number 1 and 6 got me thinking quite deeply. For someone running a one-man consultancy firm I find myself spending hours on low paying activities – fear of delegation! I can safely cry wolf here. Mixing business and personal finances has killed some of my business relationships over the years.

    I am coming out of all this today. I am committed to posting this article on my small office board.

    Thank you!

    • Tyler Basu

      Oct 18, 2015 at 4:03 pm

      Hey Tau thanks for commenting! Have you considered hiring a VA (virtual assistant)? Finding someone to work for you, even just part-time, is a great way to start delegating those low-level tasks. If you’re somewhat of a perfectionist, just record your computer screen as you do the task yourself, explain how you’re doing it, then give the training video to your VA so they can handle it just as well as you do =)

  18. Ethan Bridges

    Oct 17, 2015 at 10:59 am

    Hi Tyler,

    Your article is great!

    For some reason, #3, delaying gratification, struck me the most. Overcome yourself first and you can most probably overcome anything else 🙂

    Thanks!

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Success Advice

Why Smart People Think Beyond Reason to Make Powerful Decisions

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How long has it been since you’ve had a tough decision to make at work? I bet it happens regularly, if it is not on a daily basis. Sure, making decisions can be exhilarating, but it can also be draining. Sometimes dreadful.

Your pulse accelerates, you start to sweat, your mind jumps from one point to the next, hoping to settle on something. You really want to make the right decision for you, for your team, for your organization. But often times, it can be a tough call. You wish you had the perfect step-by-step recipe to get to the right decision.

Well, in fact, decision-making is quite a complex process for everyone. So much that it is a very popular topic in management research.

For decades, academics have observed and interviewed successful senior leaders to understand and model the thought process that take them to the right decision. These studies resulted in the inescapable rational process. Which we are all very aware of.But what if there was a better way to make decisions that doesn’t just rely on rational thinking?

The problem with rational thinking

rational thinking

We are trained from an early age to develop our rational abilities. We are taught to systematically gather the relevant data, to analyze it, to design options and evaluate them, until we make the final decision. It is as a slow process requiring conscious and sustained effort. Our rational thinking make progress step by step and draws a logical conclusion. And that’s great. Indispensable.

I couldn’t agree more. I hold a Bachelor of Mathematics, and a scientific Master’s degree in Management. My natural preference is rational thinking. However, I must admit that rational thinking can be wrong. Or jammed, unable to decide.

I mean, do you always have enough time to gather data, analyze, evaluate options and decide? Do you always have all the data that is necessary? Does it sometimes happen, on the contrary, that you have so much data that it is overwhelming and you can no longer distinguish the forest from the trees? What if there was another way?

Rational thinking is not your only option

rational thinking

Senior leaders realize, and researchers have found out, that all decisions are not, or are not only, based on rational thinking. Decision-making also leverages … intuitive thinking. Smart leaders consider their intuitions — in addition to their rational analysis — when making decisions.

And the truth is, leaders consider their intuitions — in addition to their rational analysis — when making decisions:

“90% of the 60 leaders who participated in a study reported using their intuition in combination with rational data analysis. They found that their decisions were accelerated, and were better.” (Burke, Miller, 1999)

“Managers at the top of every [of the 2000] organizations surveyed scored higher than middle or lower-level managers on their ability to use their intuition to guide their key decisions.” (Agor, 1986)

This is a well-kept secret, isn’t it? I bet you rarely hear someone at work trying to convince you that this decision is better because his instinct says so. We would rather emphasize the extensive research and analysis we have done to give credibility to our decision.

However, it doesn’t mean that intuition is not instrumental to the process. So, let me explain what intuition is, exactly.

How intuition helps you reach the right decisions

intuition

Neuroscience understands that the human brain thinks in two different ways. There’s the rational process, as described above, and the intuitive process. The latter is not esoteric, magical, nor is it about a premonition.

Intuitions are the conclusions that spontaneously raise to your consciousness, without you being aware of the intermediate stages — although it is often possible to justify your intuition after the fact.

Imagine meeting someone for the first time. Within a blink of the eye, you have an opinion of the person. That’s an intuition. And, contrarily to reason, intuition is incredibly fast. Intuitions are conveyed to your consciousness by your emotions. The first thing that comes to mind is the feelings you have for this person. You like or dislike, you trust or you don’t.

Rather than dissecting information, the intuitive process of the brain makes connections almost instantaneously based on your experiences. By analogy and association, it synthesizes and jumps to conclusions. Beneath the surface, when you meet this person for the first time, your brain finds similarities with people you’ve known in the past, and concludes.

Intuition is thus essentially based on the knowledge accumulated through your experiences, all too often forgotten, and on the models of the world that you have created for yourself, of which you are often not aware of. You may or may not realize that this person in front of you reminds you of the type of people you don’t trust, as an example.

In fact, because it is spontaneous and effortless, intuition is the way of thinking that drives the majority of the decisions you make in a day. If the stakes are not high, intuition will prevail, it is so much easier and efficient. Whether you are conscious of it or not. Whether you like it or not.

Here are a few examples:

  • You slow down your car in traffic, because you instinctively understand that the car on the other lane is trying to cut you off.
  • You pick clothes in your closet that feel comfortable if you don’t have an official meeting today. You don’t need to rationally think over your choice.
  • You accept an invitation without hesitation because it feels exciting and you have time. No need for some complex thinking here either.

Does that mean you should always listen to your intuition?

listen to your intuition

Now, is this to say that your intuition is always right? Sorry, it is not the case. The quality of your intuitions depends on the quality of the knowledge you hold, and thus of your learning.

In fact, as you are getting experienced in your job, as you face numerous situations and overcome challenges, you develop mental models on the appropriate ways to react. That’s called expert intuition. It explains why senior people can make decision swiftly, without hesitation, and without a long rational process.

Your expertise may not only be related to your job. You can also be an expert in human relations, for example. If you have always been fascinated by people, and an avid observer of good and not-so-good interactions, you may intuitively know how to react with difficult people or situations.

However, a word of caution. Intuition can also tap into your biases and your fears. In those occasions, intuition could be wrong, and it is really difficult to tell when this happens. Intuitions, at the end of the day, are no more no less than assumptions. That’s why engaging both rational thinking and intuitive thinking is so important.

How smart people use intuition to make the best decisions

using your intuition

Let’s say you are in a restaurant. You read the menu, and choose one food rather than another according to how you feel about it. It is then your intuitive process that intervenes, without real awareness of what leads you to that choice.

That being said, if you are following a particular diet, you may rule out your initial choice. You can be the impartial observer of your feelings. You can decide to slow down for a second and have your rational thinking intervene to choose more proper food for you. You have a veto power over your intuitions.

The same holds true for decisions made in a professional context, even for the most rational of us. You have intuitions, and you have rational thoughts.

Let me ask you a question: When you have a decision to make, how would you describe your typical thought process?

  1. You spontaneously have a feeling of what the right decision is, and then you engage your rational thinking to confirm whether or not your intuition is right. That is called strategic intuition.
  2. You first collect data, you analyze it, you evaluate your options, you make a rational decision and then you stop for a moment to perceive how you feel about the decision. That’s called conclusive intuition.

Strategic intuition and conclusive intuition are both efficient. But it speaks to your natural preference, and to the level of experience you hold. The more experience, the more mental models you developed over time, and the easiest it is for your brain to make connections and associations, and thus generate intuitions.

In both instances, integrating intuition and reason increases dramatically the potential for you to make the right decision.

Intuition is really an assumption your brain makes based on your experience. Relying solely on your intuition could be risky, unless you don’t have the time to analyze the situation rationally — for example, in the middle of a heated discussion, or a particularly stressful situation.

Depending solely on your reason is also suboptimal. Your brain has the capacity to detect information beneath the surface which could have a crucial impact on your decision. Ignoring it could lead you to the wrong conclusion.

The more you navigate between the two processes, the more knowledge you tap into, the better the decisions, and the more you can adapt to circumstances. You can decide how much you rely on one or the other — or both. It is a matter of choice, and practice.

Make the best use of your brain’s powers to make smart decisions

brain power

Imagine that going forward, you listen to the little voice inside of you, in addition to proceeding systematically, rationally.

Imagine that going forward, you navigate between your reason and your intuition. You dig deeper into your feelings, the voice of your intuition, and challenge your reason. Similarly, you observe impartially feelings that arise, take a step back, and apply your veto if you know better.

Navigating between your reason and your intuition, you tap into the knowledge you are aware of at a conscious level, and also into the wisdom you hold beneath the surface. Chances are that you will make better informed decisions, even if time is short, data is insufficient, or contradictory.

As a senior leader once told me:This will make the difference between a potential of success, and an assured failure.

References:

This article is based on the research I performed for my Master’s thesis (2017). The full bibliography includes over 100 articles and books, of which:

BURKE, Lisa A., MILLER, Monica K., Taking the mystery out of intuitive decision-making Academy of Management Executive, Vol. 13, №4, p. 91–98, New York, Academy of Management, 1999

AGOR, Weston H., The Logic of Intuition: How Top Executives Make Important Decisions, Organizational Dynamics, Vol. 14, №3, p. 5–18, Amsterdam, Elsevier, 1986

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Success Advice

5 B.S. Facts About High Performers Everyone Thinks Is True

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High performers are often seen in the world as people who set their mind on something and make it happen regardless of what it takes to get it accomplished. Much of the time that may be true. However, the way high performers are seen in the world is often in direct conflict with the way they behave when people aren’t watching. Even though they are seen as amazing experts and masters to others, they often see themselves as in need of improvement and can feel dissatisfied with the results they have achieved.

Despite how they appear, they are not much different than you or me with one exception. High performers are totally committed to what it is that they are doing. They function within the uncertainty of daily life just as you do but they conquer their limitations differently. Whether the odds are stacked with them or against them, a high performer will be totally committed to reaching their goals.

You may even be a high performer yourself and don’t realize it because some of your habits would not be considered high level ones. It is common for individuals to compare their accomplishments to others based on what we observe as their results.

“Everyone can rise above their circumstances and achieve success if they are dedicated to and passionate about what they do.” – Nelson Mandela

In fact, you may have lowered your personal bar of excellence because you thought you didn’t measure up to those that always seem to land at the top no matter what. I think you’d be surprised to learn that many very successful high performers don’t function the way you think they do.

Here are 5 B.S. facts about high performers that everyone thinks is true:

B.S. Fact #1 – Perfection is the way they play their game

You would think that in order to appear perfect you would probably need to do everything perfectly. It’s so not true! High performers actually pursue excellence as a goal and not perfection. It allows them to get more done with a higher level of consistency and sets them up for success rather than failure.

B.S. Fact #2 – Organization is their secret weapon

Just take a look at the desk of a genius. You probably wouldn’t be able to see the surface beneath the stacks of books, papers and whatever else may be on top of it. High performers typically have a formula as to where they put things and why. To the observer, it’s usually just a big mess with no identifiable system. However, I assure you, a high performer will still know where everything is regardless of the chaos that surrounds their personal space and schedule.

B.S. Fact #3 – They’ve all walked Ivy League hallways

Though it is true that many well educated people reach great success, statistically, some of the most influential success stories are about people who lacked resources and education. High performers will always seek out whatever or whoever is available so that they can learn what they need to and create their vision despite whatever odds happen to be stacked against them.

B.S. Fact #4 – They don’t have squirrel brain

Focus. It seems like this would be the number one rule to follow on the road to results.  However, there are many high performers who get distracted by people and ideas that totally derail them from what they were doing. Often times, it is not their focus but their agenda that keeps them on track. They know what they need to do even if it doesn’t always get accomplished in the way they thought they would get it done. However, it always gets done.

“High achievers spot rich opportunities swiftly, make big decisions quickly and move into action immediately. Follow these principles and you can make your dreams come true.” – Robert H. Schuller

B.S. Fact #5 – They see themselves as the king of the jungle

Confidence seems to pour out of those who always seem to succeed. When, in reality, so many high performers struggle with it. Questioning whether or not they’re doing the right things or whether what they’re doing is good enough can be a constant personal dialogue. Fear of being negatively judged is the biggest reason why most people don’t take chances or take action on their big dreams but high performers move forward anyway. Their insecurity doesn’t stop them from what they want.

So, why should it matter to you what is fact or fiction about high performers? The answer; because you will compare yourself to others at times and it would be a tragedy if you stopped yourself from achieving big goals due to a belief that you’re not as good as someone else.

High performers achieve results. They know what they want, they plan it and they achieve it. Just because you have a few habits that won’t get applauded if people actually knew about them doesn’t mean that you can’t be one of the experts or podium finishers too.

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Success Advice

Do You Want to Become a Leader? Read This First

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How do you become an adult in a society that doesn’t ask for sacrifice? How do you become a man in a world that doesn’t require courage? The test of leadership isn’t done on the couch, discussing things with internet trolls and commentators. Leadership, like philosophy, is action-based and can’t be separated from that into a purely theoretical field.

To become a leader, it isn’t enough to read about it, you need to live through it. That leads us to the first point.

1. Experience trumps theory

Theory and practice are the same in theory, but they are not the same in practice. For you to become a leader, you need to put yourself in situations which demand leadership. If you are at home trying really hard to think about situations where leadership is required and can’t find a place where that can happen, you are not thinking about the problems in your life and community.

Leadership is about going through uncertainty while showing people a better way. So any area of life where there is uncertainty is an area where there is a possibility for leadership to emerge.

You don’t have to lead a company of 10,000 employees to experience leadership, you can do it in a local community of 5 people or as I did in a leadership organization with 200 people. But leadership doesn’t start with leading other people, it starts with leading yourself.

“Leadership is practice not so much in words as in attitude and in actions.” – Harold S. Geneen

2. To lead others, you must learn to lead yourself

Telling other people what they need to do is “easy.” Showing the way yourself is a hundred times harder. Because what you do speaks so loud that people can’t hear what you’re saying. In other words, leadership is about having personal integrity and practicing what you preach. You would never follow the advice of a fat personal trainer, a broke accountant, or a real estate agent who doesn’t even own a dog house.

You either lead by example or you don’t lead at all. But the thing is that this is easier said than done. I remember when we had a crisis in our team back in 2013. Every single person from the team quit, leaving the president and me alone to fight the battle. My integrity of not quitting didn’t let me walk away and we kept pushing together.

That’s what leadership is about – you need to walk the talk. Because to lead yourself and to lead others, you need to make decisions which follow up your integrity. That leads us to the third point.

3. Leadership is about making the right, painful decisions

If you choose easy decisions, your life will be hard. If you choose hard decisions, your life will be easy. And there are numerous decisions which leaders did in the past which have been hard at the moment. But when you’re a leader, you don’t make decisions on a scale of easy-hard, you make them on a scale of right-wrong.

Firing the VP of sales is always hard. But doing it because he violated the principles of the company makes it right. It’s a trade-off 90% of people are not willing to make and I see it day in, day out. As soon as a decision becomes hard, people start doubting their values, morals, and integrity. They let the fear of uncertainty cloud their judgments and they make an easy call.

They let the VP stay because it’s the easy thing to do and with that, they seal their fate. Leadership is painful and it always was. I remember when I had to let 20 people go or fire two of my VPs. Was it hard? Of course it was. But it was the right thing to do. This doesn’t make the decision any easier, but it makes it bearable.

You know where you need to lead people and even though there is massive uncertainty, you need to be certain that you will figure out any problem that comes in front of you. Which brings us to the last point.

“Leaders think and talk about the solutions. Followers think and talk about the problems.” – Brian Tracy

4. You need to have unyielding faith that you will prevail in the end

You don’t need to know every step of the way, but you need to know how you will react to problems. You need to be sure, absolutely, that you will deal, manage, and handle every single problem that comes your way and that your team and people who you lead are unstoppable on their way to achieving the vision.

This is unquestionable. You have no idea what will attack you, but you are certain that you will handle it. This is how you lead people through everything in life. This is how Shackleton led his expedition for 2 years on the Antarctic and how every single one of his people survived the hardships that attacked them.

Because people turn to the leader in face of trouble and that’s when you show your true face. Do you show your weak side, flounder, and run? Or do you stand strong like a supporting rock on which people can lean on?

When you deal with fire, you will learn how to defeat it without having your people get burned. You will sacrifice yourself and gain scars which don’t serve as a sign of victimhood but as a proof of courage. Are you gonna be courageous or are you gonna run away? There is only one way to find out.

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Success Advice

This Is Why Most People Give Up On Their Dreams — I Plead With You Not To Become One Of Them.

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We all have a dream even if we haven’t realized it yet. It could be something as simple as raising a family, or it might be more extreme like winning an Olympic gold medal.

No matter the dream, most people give up on their dream.

I’m pleading with you not to be one of those people. You can achieve your dream when you understand why people give up in the first place.

Here’s why most people give up on their dreams:


They failed once before.

Many people try something once and when they fail, they give up. That’s because nobody tells you that achieving your dream doesn’t happen the first time around.

You have to try and try again until you reach your goal.
The problem is it’s easy to try once, fail, and then say “I already tried and I didn’t win.”

We give in so easily because the upside is a life of excuses.

We give in because we can live through the heroes of our favorite Netflix show.

We give in because in some ways there is a reward. Giving up gives you permission to sit on the couch, eat junk food, be angry at the world on social media and sleep in your nice warm bed

The problem is that this life sucks. You’ll get tired of it. One day you’ll want to chase your dream again, but you might be old, frail and full of regrets.

I’m pleading with you not to choose this option.


They got told no.

You don’t need permission — remember that. You are going to get told no hundreds of times in your life. With every dream you have, there’s going to be some fat, lazy slob that’s going to be standing in your way.”

Push through these people — flubber and all. Don’t let someone else’s laziness or issues with your dream stop you.

Ignore the no and get right back to it. Ask them again. Ask someone else.

Ideally, don’t ask them at all. I never asked to be a blogger I just did it. Certain publications turned me down and I kept writing.

Not everyone understands your gifts or potential and that’s fine. The main point here is that you understand.

I’m pleading with you to not give up because of a no. Make the no your motivation instead.


They don’t see failure for what it is.

Failure is nothing more than the inevitable education that any person who achieves their dream goes through.

Failure is so important that I personally like to pay money for it. I wish there was a shop or course I could do that would guarantee me failure instead of success. I want you to want the failure because that’s where all the answers are.

Once you know what doesn’t work, you’ll have a path forward. Change the word failure into education.

I’m pleading with you to fall in love with failure and not to give up on your dream.


Boredom strikes like thunder.

Everyone gets bored. I watched a documentary where Usain Bolt was training for the Olympics and even he admitted that he got bored after he won a few gold medals.

Boredom is normal, but it’s why a lot of people give up on their dreams.

It’s in the moments of boredom that you give your mind a chance to rest. Doing nothing and being lazy for a few hours can often bring a spark of creativity. No one is motivated 100% of the time — not even me.

It’s up to you to add some variety into your day, so you don’t get stuck in boredom forever.

Boredom can also be a good sign as well. It can be a sign that you need to change your approach or do things in a new way.

I’m pleading with you not to be afraid of boredom. Use boredom to your advantage.


They stop believing in themselves.

Your dreams are not easy (obviously). The rejection, failure and setbacks you’ll achieve can bring you down. What messes people’s dreams up is they stop believing in themselves.

Everything starts to fall over when you don’t believe in yourselfYou have to believe you can do it before anyone else will buy into that idea. The challenge is that you’re going to need help to achieve your dreams. You can’t do it alone.

You’ll never get that help unless you can get people to believe what you believe.

I’m pleading with you to believe in yourself no matter what. You have this dream for a reason and you can do it.


They are stuck on one strategy.

Many people live their entire life based on one strategy or one arbitrage. They refuse to change and so eventually the environment around them changes which affects their ability to reach their dream.

If you’re set in your ways and won’t change your approach, you’ll probably fail. We all imagine how our dream should look yet sometimes the reality is different.

You have to be open to change. In my experience, my original dream looked much different and I’m glad it’s changed. Changes to your dream are for the better.

I’m pleading with you to be open-minded.


They are surrounded by an army of morons.

If everyone around you is telling you you’re an idiot and they don’t respect your dream for what it is, this will have a negative impact on you whether you like it or not.

Run away from the dream killers who are making up for their own broken dreams and surround yourself with people who support you

The best people are the ones that support you but don’t always agree with you. Even better are the ones that support you and challenge your thinking. 
I’m pleading with you to reassess the people around you.


They want security.

No dream comes with an insurance policy or a set path. People are afraid to take risks and want reassurances when they pursue their dream.

There are none. Dreams are made off the back of taking calculated and clever risks most of the time. If you want someone to guarantee your dream, then it ain’t going to happen.

It’s the unpredictability that makes dreams addictive, delicious and worth the effort. Not knowing is what our mind craves — we just don’t know it. If we knew how our dream turned out, we wouldn’t be as excited.

I’m pleading with you to take a risk or two.


They refuse to be disciplined.

Nothing worth achieving can be done without discipline. There’s work involved and that has to be scheduled and executed upon.

I’ve written every single week since 2014. That takes bloody discipline.

My discipline reflects my results in the blogging world. The same applies to your own dream.

Block out chunks of your calendar and get to work. If you’re not doing at least one small thing towards your dream every day, then you’re heading in the wrong direction.

I’m pleading you to put in regular work towards your dream.


The greener grass syndrome.

Another reason we give up is not because we’re lazy necessarily but because we failed and there is a better option. That’s what our mind tells us.

I didn’t fail; I just found something better,” you say to yourself.

Well, that’s the sad truth.

“Changing your idea of success consistently is not the answer. At some point, you need to decide to chase one dream and quit the ADHD dream chasing the average person chases. You’re better than that”

Worrying about what everybody else is doing and then chasing their dreams is ridiculous.

I’m pleading with you not to fall for this lie. The grass is not greener it just requires more work than you anticipated.


Final thought.

Please, please, please don’t give up on your dream. You’re closer than you think. You just need to stand back and think about a few of the points I’ve mentioned.

Broken dreams have birthed so many broken people.

It doesn’t have to be that way. See your dream for what it is: Something special that you can achieve if you put your mind to it, focus and be excited by the possibilities.

Don’t give up on your dream.

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If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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