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Success Advice

7 Common Mistakes That Billionaires Make

Joel Brown (Founder of Addicted2Success.com)

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Billionaire Money

If you are currently working your way to be successful in your own line of business or in your field of profession, one of the most important things you ought to have is a good mentor. Naturally, small and starting entrepreneurs and professionals as well as aspiring millionaires and billionaires all look up to the existing top-grossers in the world today and try to follow their examples. What many fail to realize is that these amazing billionaires at present have also had their share of mistakes in the past that have helped them become what they are today.

What are some of the most common mistakes that most billionaires make? These are also the same blunders that have probably caused them setbacks in their careers or businesses and have even caused great failure for some. The only thing that sets them apart from those who have not reached their level of success is that they chose not to give up and to instead use these slipups to help them achieve more.

 

Billionaire Mistakes

 

Mistake #1: Lack of Research

Sometimes when you are suddenly hit with a striking idea that you deem as a stroke of genius, you jump right into it without doing the proper research involved. Naturally, any idea for a product or service can turn into a great business and can also end up in the opposite direction. No matter how excited you may be to get right into something, you need to research all the details involved first, to study your target market, and do a feasibility review. This is especially important when you are planning to shell out a huge amount of money for a business idea that can turn out as a flop.

Henry Ford Color Automotive PictureHenry Ford, for instance, is a well-known billionaire today in the field of automobiles. He has always been recognized as a man of efficiency, being able to make ordinary things extraordinary. However, Henry Ford has also had his share of gaffes.

One very big and expensive mistake Henry committed was to start up a company town called Fordlandia to serve as his own rubber production plant. Because he was not an expert in putting up a town especially in Brazil, he failed. He made the mistake of not doing sufficient research first before indulging in this project. He also did not hire excellent specialists who could have given him the needed advice and guidance for going about this town.

 

Mistake #2: Focusing on the Wrong Opportunities

It is certainly difficult to tell the right opportunities from the wrong ones, especially if you lack experience. Being a risk-taker is an important characteristic in the business world. However, you ought to weight the risks you take. You also need to know when to quit. Always remember that when you focus too much on one or two things that do not seem to be picking up even after you have given so much, you might not realize that you are actually missing out on other better opportunities for you. Thus, you still have to keep your eyes and ears open for other breaks or prospects while you are trying to work out your existing ones.

Warren Buffett BillionaireOne example is the story of Warren Buffett, one of the most popular billionaires of today. Back in the 1960s, he chose to buy a New England textile mill and ran it for twenty years even though it was not improving at all.

Warren Buffett did not immediately see that the textile business then was truly hopeless. Eventually, when Buffett accepted his mistake and decided to move on, he shut down this company and went on to the insurance arena and to other industries that brought him great fortunes.

 

 

Mistake #3: Miscommunication

It is very important to communicate well with the people you work with and those who work under you. Keep in mind that the people who work for you are your greatest assets. You cannot be as successful if you do not have leverage on these individuals. Thus, it is vital to build a good relationship with them.

Steve Jobs Apple BillionaireSteve Jobs, for example, was known to fail in open lines of communication. Because he always assumed that people ought to instantly understand and grasp his ideas and suggestions, he ended up losing highly talented people who could have made work much easier in the future. When you lose people, you will end up spending more from hiring and training efforts.

Even billionaires cannot just buy people’s loyalties and emotions. Relationships are of essence too.

 

Mistake #4: Cost-Cutting

When you really need to cut on your costs to save your business or to make a greater profit, you have to carefully weigh the pros and cons first. You also need to check if the methods you will be utilizing are worthwhile and will not aggravate many. The successful billionaires today have had their share of cost-cutting decisions.

Ralp Lauren SuitIn the case of Ralph Lauren, he made the huge mistake of having Chinese laborers make the 2012 US Olympics team uniforms under his brand name. Since this event is rooted in a nationalistic aspect, it is imperative that the uniforms bear the sign “Made in the USA”. This wrong decision certainly caused a big stir in the nation, which has provoked tons of people to boycott Ralph Lauren.

Indeed it has caused a stain on the name of this famous clothing company.

 

Mistake #5: Missed Chances

When you are engaged in a certain industry, you have to continuously study the market and its needs. Even if your current products and services are doing well, you still have to be on the lookout for related opportunities in this field. What’s more, it is best to keep up-to-date with the latest innovations.

Bill Gates Microsoft BillionaireWho would have thought that Bill Gates, one of the well-known billionaires at present, would make the mistake of overlooking the great potential of the search engine?

When the Internet was just beginning, Microsoft chose to concentrate on developing a browser or navigator instead of coming up with its own search engine. Hence, Google beat Microsoft to this turf, quickly tripling its revenue shortly after it came out.

Bill Gates admitted that it was a lost billion-dollar opportunity.

 

Mistake #6: Failure to Explore Options

When you see an opportunity that you want to grab, it is crucial for you to check out all your options. Along with the proper research, you have to explore the different ways that you can make this opportunity work out for you. If you fail at one, you have to try another one before someone beats you to it. Would-be billionaires should learn how to weigh opportunities.

Larry Page Google BillionaireOne great story in this regard is that of Larry Page of Google. He already had the idea about the amazing promise of social networking especially when Friendster had become popular. When Google offered to buy Friendster in 2003, Larry Page did not act on developing their own.

Before Larry realized it, it was already too late because Facebook had captured the market and no one else stood a chance against this booming social networking site.

 

Mistake #7: Negative Publicity

In every business and in any industry, publicity is very important. Your public image and that of your brands count. Of course you need to carefully build a positive name that will make people feel good all the time instead of reminding them of negative things. This is why PR is a very important aspect in business too and even in a career that exposes you to the public. Hence, you should learn to be more charismatic and to know how to use the media to your advantage.

Mark Zuckerberg Facebook BillionaireSince young billionaire Mark Zuckerberg has always expressed himself without much regard for what others think, he has made a lot of mistakes already with his statements and actions. Mark Zuckerberg’s cocky, arrogant, and blunt personality has been known to give his company ‘Facebook’ a bad image as he is a representative of the website. As a public figure, he is still in the learning process. Not taking crap from people is good in business, but the thin line between cocky and confident should be something you are very clear on when you are constantly in the public eye.

These are the seven common mistakes that a lot of billionaires have made in the past and have learned from. As an aspiring billionaire, you ought to consider these mistakes and do your best to avoid them and to use them for your own good.

 

I am the the Founder of Addicted2Success.com and I am so grateful you're here to be part of this awesome community. I love connecting with people who have a passion for Entrepreneurship, Self Development & Achieving Success. I started this website with the intention of educating and inspiring likeminded people to always strive for success no matter what their circumstances. I'm proud to say through my podcast and through this website we have impacted over 100 million lives in the last 6 and a half years.

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10 Comments

10 Comments

  1. Nirajan

    Jul 26, 2014 at 11:42 pm

    Brilliant article, thanks

  2. Bubba

    Feb 14, 2014 at 10:30 pm

    Of course the title got your attention to read it. The point is that even the most successful business people screw up and learn from their mistakes to the tune of billions.

  3. DT

    Nov 1, 2013 at 11:35 pm

    Yep

  4. John Spence

    Feb 23, 2013 at 3:50 pm

    The article could have been entitled, “Seven mistakes to avoid in business”. It has little to do with any of the billionaires. …and the examples weren’t that good.

  5. Bernard

    Feb 23, 2013 at 3:34 pm

    I love your advises.keep on with the good work

    Bernard

  6. Jesse LaPrade

    Dec 10, 2012 at 2:48 pm

    This is very good advise for all entrepreneurs. Everyone can learn from this great advise.

    Keep on keeping on!

    Jesse

  7. Sarah

    Dec 4, 2012 at 2:16 pm

    Great article: I should be so lucky to have some of these mistakes and still make it as a billionaire!

  8. Deji R Yusuf

    Dec 3, 2012 at 4:54 pm

    Thanks Bro! Love this article and learnt a lot from it!

  9. darlington

    Nov 30, 2012 at 12:18 pm

    Thanks Joel, this was a brilliant article

    • Zaid

      Dec 10, 2012 at 9:10 am

      This is probably the most pretentious, ironically titled article I’ve read this semester…They’re billionaires you ASS! Mentioning an obviously unforeseeable mistake in hind site and pretending it’s a “common practice” that billionaires do…ugh…

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Success Advice

Positivity & Self-Ownership: Your #1 Factor for Success

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Image Credit: Twenty20.com

Leaving a reliable 9-5 job and risking a steady, biweekly paycheck to live out a dream and pursue a totally different lifestyle can be terrifying. However, there is no reason to fear, aspiring entrepreneur!

All successful entrepreneurs understand a few simple principles that enable them to achieve their goals, including how positivity along with taking ownership and accountability for your attitude, actions, and outcomes play a major role in your success.

The Power of Positivity

Never underestimate the power of positivity. Thinking positive thoughts, embodying a positive and healthy lifestyle, and reciting positive affirmations everyday enable you to tap into a higher level of your subconscious.

This is in line with the law of attraction, which says we attract into our lives what we manifest and put our energy into. You attract the energy that you put out into the universe, so the more positivity you put out, the more positivity comes back.

Here are some examples of positive affirmations that are meant to promote success:

  • I have the power to create change.
  • I refuse to give up because I will succeed.
  • I deserve the best and I accept everything that has happened up until now.
  • I am unstoppable and I will achieve all of my goals.

Replace your “I can’t”s with “I can.” Replace your “I won’t”s with “I will.” Speak positive things into existence, and watch your life turn around and have those positive thoughts come about. When you make the effort to make a positive change, the universe will conspire to help you succeed.

What Does It Mean to Be Accountable?

Accountability means to take responsibility and accept ownership for your actions and decisions. This means that you are responsible for the fate of your business. Do you feel that things aren’t taking off as quickly as you originally hoped? Work harder. Not selling thousands of products? Sell harder. Don’t have enough clients? Conduct more cold outreach. Keep your word.

Set goals and intentions and follow through with them. Be responsible and hold accountability for your actions. When you accept responsibility for your actions, you’ll feel rewarded when things work out, and you’ll close more deals, sell more products, and your dreams will come true.

“The price of greatness is responsibility.” –  Winston Churchill

What It Means to Take Control of Your Life & Business

In order to take control of your life and the fate of your business, you must understand your purpose in life and be willing to fulfill that purpose. It’s not enough to only desire a certain lifestyle.

You must stay true to what you really want to do in life. This means that you are mentally prepared to take on everything you need to in order to succeed. You follow strict self-set rules and guidelines that will help to keep you on track toward those dreams and goals. You don’t give up.

You keep going when things get tough, and you never see failure as an obstacle. You aren’t discouraged. You accept minor bumps in the road on the way to your destination, because you know you will ultimately reach your goal, and you won’t stop until you get there.

Here are three factors that personally helped me succeed:

1. Becoming more organized

Prior to organizing my tasks and goals, I was just flying by the seat of my pants and wondering why I wasn’t progressing at all. That’s because I didn’t have a set direction.

Becoming more organized helped me to prioritize what needed to get done in order to grow my business to the place where it’s at today.

2. Starting my off my day with positive affirmations

Positive affirmations are more powerful than you may believe. I started each day reading and reciting a quote that was positive and inspiring in nature, which exponentially increased my motivation and mentally prepared me to take on each day.

“Make each day your masterpiece.” – John Wooden

3. I developed long-term goals and stuck to them

Instead of working every day toward the unknown, I decided to set long-term goals. The kicker in helping me stick to these goals was creating smaller milestones that kept me on track and focused which gradually led me up to the ultimate goal.

Although I recognized that the ultimate achievement (of growing my business) was still at hand, my behavior was reinforced by a consistent sense of accomplishment upon completing these smaller goals.

If you are willing to stay focused, motivated, commit the time, effort, and energy toward reaching your goals, and you truly believe that you can and WILL achieve them, then there is nothing that will stop you in your path toward success.

As William Earnest Henley’s famous poem “Invictus” states, “I am the master of my fate, I am the captain of my soul.” You are the master of your fate and the captain of your soul. Once you wholeheartedly believe this, then you will harness your true power, unlock your full potential, and begin to live out your truth and reach the level of success you’ve always dreamed of.

What is success to you? Let us know in the comments below!

Image credit courtesy of Twenty20.com

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Success Advice

The 3 P’s of Irresistible Leadership: Passion, Persistence, and Panache

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If any of you reading this have ever studied the theoretical underpinnings of leadership, you will have come across several theories such as the great man theory and charismatic leadership theory. Over the decades, leadership has evolved more from an art of telling people what to do to that of subtle influence, suggestion, and rendering by example.

In my new e-book “High-Octane Leadership: Pole Position Performance,” I mentioned that the goal of the manager is to create followers, but the goal of a leader is to create new leaders! This is a relatively new concept in leadership! There are many new and emerging micro theories of leadership that can be expounded upon and useful to individuals looking to assimilate a leadership style.

Here are the 3 P’s of irresistible leadership:

1. Passion

No great achievements, no illustrious undertakings, and no works of genius have ever occurred without the infusion of passion. Passion creates connections where none existed before.

Passion heightens the desire in the individuals who have opted to follow, and it has moved individuals forward toward a common vision. Leaders such as Steve Jobs, have to demonstrate a sense of passion in everything. Although his passion could be somewhat subdued, there is no doubt that when it came to any Apple products, he was the number one salesperson, champion, and evangelist.

“When you’re surrounded by people who share a passionate commitment around a common purpose, anything is possible.” – Howard Schultz

2. Persistence

For years when I was in direct sales, I had an 8.5 x 11 sheet with a cartoon on it hanging over my desk. It was a crane (that’s the bird, not the machine) who had a frog in his rather ample bill. However, the frog’s arms came out of the side of the crane’s mouth and were clutching the crane by the throat so that he (the crane) couldn’t swallow the frog. Underneath this caption where the words, “never, ever give up!

Leaders persist! They understand that there is always a way to solve the problem. Following this understanding, there must be subsequent action that follows, and this can lead to enthusiasm and optimism!

3. Panache

Leaders are self-confident people. They have systematically developed confidence over the years. In situations where they don’t feel confident, they make themselves feel confident. Confidence is learned. It’s a mental model and a cognitive mindset of how we approach problems.

Leaders understand and know that they will solve the problem before them; it’s not a matter of guessing, it’s a matter of knowing.

“Positivity, confidence, and persistence are key in life, so never give up on yourself.” – Khalid

If you buy the notion of passion, persistence, and panache as attributes of irresistible leadership, the question before us now turns on how do we develop those skills?

Here are a few behaviors that leaders use on a consistent basis to develop new skills:

  • Awareness – Great leaders and irresistible leaders always have their antennae up. They are always looking for ways to improve. They understand that self-improvement is a never-ending process to be embraced, even if the execution of the new behavior is difficult!
  • Repetition – Irresistible leaders practice their new skills. They will practice them in front of their subordinates, their family, and in front of themselves while staring at their face in a bathroom mirror! They understand the way to install a new habit of behavior is like with any habit, repeating it over and over again.
  • Feedback – Irresistible leaders are not afraid to ask how they are doing. And, they are not afraid to hear the answer. They understand that the best answer is that they are doing well but the next best answer is that they are not doing well, instead of not being told about their potential flaw. They understand that input in terms of behavioral awareness is one of the singular most important things one can attribute to leadership performance and style.

Try this: take an 8.5 x 11 sheet of paper and draw three columns. Atop each column write passion, persistence, and panache. On the left-hand side in the margin of the page, write awareness and 1/3 of the page down, write repetition, and then at the bottom one third the word feedback.

Writing solidifies thought, and it is that solid thought that motivates us into action. You will find yourself becoming more aware of opportunities to develop in each of the 3 P’s of irresistible leadership. Document them! Then jot down ideas down about how you can repeat those new behaviors. Finally solicit feedback and document what you’ve heard.

In the span of several weeks you will have developed new and exciting leadership attributes. Continue this new and exciting habit for other leadership development opportunities.

Which one of the 3 P’s do you need to work on most and why? Let us know in the comments below!

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Success Advice

It’s The 50 Things You Do Beforehand That Lead To Your Ultimate Success.

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Oh great, another tricky, dicky headline from that knob jock blogger Tim.”

That’s what you’re thinking, I know.

Well, I love sharing the truth and a lot of the time it doesn’t look pretty. There’s a vision we all have to do something incredible even if we don’t admit that publicly. Incredible, by the way, could just mean raising a family of beautiful children.

The thing is that not having the answers to what that end goal looks like is the best part. Let me explain.

Right now what you see is my blogging career. Before today there were 50 other things that look totally unrelated on the surface.

Here’s how I got to now:

  • Started out swimming as a child then quit
  • Played the flute and then quit
  • Joined a choir, then my voice broke, then I quit
  • Began playing drums then quit
  • Became a DJ then quit
  • Started producing other peoples music then quit
  • Became a successful entrepreneur then quit
  • Trained to be a fitness freak and then quit
  • Became a finance professional then quit
  • Mastered the world of tech and then partially quit
  • Wrote 400+ articles for a blog called Addicted2Success and didn’t quit
  • Published more than 500+ articles on Medium and didn’t quit
  • Published content on LinkedIn every day for a year and didn’t quit

Here’s my point: those last three dot points are what you see now but what you can’t see is everything that came before I started blogging.


Everything you do plays a part in the end result.

While singing in a choir might seem totally unrelated to blogging it’s not. Just like djing and swimming are not unrelated either.

Swimming taught me to overcome my fear of deep water.

Being in a choir taught me what it was like to be on stage in front of people.

Djing taught me artistry and creativity.

The 50 things I did prior that you didn’t see allowed me to do what you see me doing now in the form of blogging.

No matter what you start and stop in life, it will play a part in the 1–2 things that you end up being successful at and hopefully become known for.

Don’t discredit anything that transpires in your life. Every day is contributing something valuable to your future success even if it doesn’t look like it”


Not having the answers is what makes it fun.

If I could tell you right now how you’d get to your ultimate success, it would take away all the fun.

Never in a million years did I expect to become a blogger but here we are.

Getting here has been a load of fun and I still have no idea where this will all lead. Maybe, like Tim Ferriss, blogging could lead me to podcasting. I’ll never know if blogging is my ultimate version of success and that’s the best part.

All of us (including me) are just taking steps forward and learning as we go.

Quit trying to have all the answers because it’s not going to make any difference in the long run.

You can’t predict success all you can do is work your way towards it and earn it for yourself.


Don’t underestimate the ‘art of doing’

I’m obsessed with the doing because it’s the only thing I can control.

I’m reminded daily about the ‘art of doing’ by people who reach out and want to also be known for blogging.

Many of these wannabe bloggers write something but never publish it because it’s not perfect.

Then they finally get the courage to hit publish and the world doesn’t stop and notice their Harry Potter, chart-topping piece of writing. It’s an anti-climax for them which makes them spiral further down the black hole of disappointment.

What these wannabe bloggers underestimate (without sounding too cocky) is that if they repeated the habit of publishing something every day for a year that’d be able to see where blogging could lead.

Hitting publish once is not enough and the first time you do it, it will probably suck.

The only trick for the record that I’ve ever used to accelerate my success in blogging is hitting publish as often as I can and being disconnected from the result. JonWestenberg taught me this.

Even if you fail at something like blogging it will lead you to the next thing and the next thing and so on. Eventually, you’ll find what it is that lights you up and helps you to achieve your own version of success.

Nobody (including me) can predict what that one thing will be. My advice is the opposite of many people out there. Change around your hobbies/passions as much as you like.

Learn something from one field and then move on. While you experiment and switch paths, you’ll eventually find what you’re looking for. I hope you can see that to be true through the story I’ve just shared.

<<<>>>

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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Success Advice

Are You Really a Leader? 3 Questions That Will Help You Find the Answer

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Being a leader is a lot of responsibility. People look to you to make decisions, direct them, provide support, and get results. A true leader is an amazing presence: a humble yet confident person who inspires those around them.

Unfortunately, a lot of people think they’re leaders, but really aren’t. In fact, according to talent scientist Tomas Chamorro-Premuzic, 80% of people believe they are better-than-average leaders, which is objectively impossible. I see people claiming to be leaders all the time, but they’re all talk and no substance.

What is Leadership?

A lot of the people I talk to seem to think that you become a leader just by having a job managing people. That’s simply not true. Leadership is a balancing act that would make a master juggler impressed.

True leadership involves making sure that there is a happy balance between employees’ needs and the company’s needs. If only the employees’ needs are prioritized, the company won’t be profitable. Likewise, if only the company’s needs are considered, employees will leave.

True leaders have the self-awareness and strategic skills to understand this delicate balance and understand their role in creating those key compromises.

“The key to successful leadership today is influence, not authority.” – Ken Blanchard

Can You Be a True Leader?

Although there are a number of different leadership styles and theories out there, leadership boils down to a few essentials. Leaders need the emotional intelligence to navigate difficult and uncomfortable situations while being able to inspire others to take action. There’s a big difference between saying you’re a leader and acting like one.

If you want to increase your self-awareness and find out if you’re a leader others can rely on, start by asking yourself these three questions:

1. Do you want to be a leader?

It may seem unfair, but in my experience, the people who make the best leaders don’t necessarily want to be. You only want what you don’t have, and same rings true here. If you want to be a leader then you probably aren’t focusing on the right aspects of leadership.

True leaders are natural trail-blazers, but they don’t set out to lead anyone. People just happen to take note of their talents and confidence and look to the person for advice and guidance.

2. Do you have an original vision, or are you just power-hungry?

Why do you want to be a leader? Is it so you have the final say, or do you have actual goals you want to accomplish with a team? True leaders don’t feel threatened by others—they’re too busy getting stuff done. Leaders typically don’t need to test or confirm their power.

If you think good leaders give directions and just want others to listen, you’ve got it wrong. The best leaders often don’t need to speak a whole lot—they listen and observe, they think deeply, and when they do speak, it’s meaningful.

A true leader acts and others follow those actions because they trust and respect the leader. It isn’t about a power battle or an ego trip. Leaders have a true vision.  

3. Are you willing to do the dirty work?

You don’t get to be a leader if all you do is sit around, give orders, and let other people do the dirty work. Real leaders are humble, and no work is “beneath” them.

They want to know what’s going on at the ground level, and they want to help their people when they’re struggling. If you’re not willing to talk to a customer or back your employee up in a bad situation, you don’t get to call yourself a leader.

“Leadership is a choice, not a position.” – Stephen Covey

Becoming a Self-Aware Leader

How did you do? Maybe you’re not cut out to be a leader. Maybe you are. Maybe you need to work on a few things first.

Real talk: being a good leader isn’t easy. However, becoming a true leader benefits everyone around you and can be extremely fulfilling. If you’re more determined than ever to become the best, most self-aware leader you can be, that’s great news: we need more leaders out there.

What are the characteristics of a great leader in your opinion? Share with us below!

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Success Advice

Positivity & Self-Ownership: Your #1 Factor for Success

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positivity
Image Credit: Twenty20.com

Leaving a reliable 9-5 job and risking a steady, biweekly paycheck to live out a dream and pursue a totally different lifestyle can be terrifying. However, there is no reason to fear, aspiring entrepreneur! (more…)

Cory Young is the founder of BCC Interactive, a Philadelphia digital marketing agency with expertise in expanding businesses through search engine marketing. Cory has 10+ years experience crafting successful customized digital marketing strategies for Fortune 500 companies and small businesses alike.

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10 Comments

10 Comments

  1. Nirajan

    Jul 26, 2014 at 11:42 pm

    Brilliant article, thanks

  2. Bubba

    Feb 14, 2014 at 10:30 pm

    Of course the title got your attention to read it. The point is that even the most successful business people screw up and learn from their mistakes to the tune of billions.

  3. DT

    Nov 1, 2013 at 11:35 pm

    Yep

  4. John Spence

    Feb 23, 2013 at 3:50 pm

    The article could have been entitled, “Seven mistakes to avoid in business”. It has little to do with any of the billionaires. …and the examples weren’t that good.

  5. Bernard

    Feb 23, 2013 at 3:34 pm

    I love your advises.keep on with the good work

    Bernard

  6. Jesse LaPrade

    Dec 10, 2012 at 2:48 pm

    This is very good advise for all entrepreneurs. Everyone can learn from this great advise.

    Keep on keeping on!

    Jesse

  7. Sarah

    Dec 4, 2012 at 2:16 pm

    Great article: I should be so lucky to have some of these mistakes and still make it as a billionaire!

  8. Deji R Yusuf

    Dec 3, 2012 at 4:54 pm

    Thanks Bro! Love this article and learnt a lot from it!

  9. darlington

    Nov 30, 2012 at 12:18 pm

    Thanks Joel, this was a brilliant article

    • Zaid

      Dec 10, 2012 at 9:10 am

      This is probably the most pretentious, ironically titled article I’ve read this semester…They’re billionaires you ASS! Mentioning an obviously unforeseeable mistake in hind site and pretending it’s a “common practice” that billionaires do…ugh…

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Your email address will not be published. Required fields are marked *

Success Advice

Positivity & Self-Ownership: Your #1 Factor for Success

Published

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positivity
Image Credit: Twenty20.com

Leaving a reliable 9-5 job and risking a steady, biweekly paycheck to live out a dream and pursue a totally different lifestyle can be terrifying. However, there is no reason to fear, aspiring entrepreneur!

All successful entrepreneurs understand a few simple principles that enable them to achieve their goals, including how positivity along with taking ownership and accountability for your attitude, actions, and outcomes play a major role in your success.

The Power of Positivity

Never underestimate the power of positivity. Thinking positive thoughts, embodying a positive and healthy lifestyle, and reciting positive affirmations everyday enable you to tap into a higher level of your subconscious.

This is in line with the law of attraction, which says we attract into our lives what we manifest and put our energy into. You attract the energy that you put out into the universe, so the more positivity you put out, the more positivity comes back.

Here are some examples of positive affirmations that are meant to promote success:

  • I have the power to create change.
  • I refuse to give up because I will succeed.
  • I deserve the best and I accept everything that has happened up until now.
  • I am unstoppable and I will achieve all of my goals.

Replace your “I can’t”s with “I can.” Replace your “I won’t”s with “I will.” Speak positive things into existence, and watch your life turn around and have those positive thoughts come about. When you make the effort to make a positive change, the universe will conspire to help you succeed.

What Does It Mean to Be Accountable?

Accountability means to take responsibility and accept ownership for your actions and decisions. This means that you are responsible for the fate of your business. Do you feel that things aren’t taking off as quickly as you originally hoped? Work harder. Not selling thousands of products? Sell harder. Don’t have enough clients? Conduct more cold outreach. Keep your word.

Set goals and intentions and follow through with them. Be responsible and hold accountability for your actions. When you accept responsibility for your actions, you’ll feel rewarded when things work out, and you’ll close more deals, sell more products, and your dreams will come true.

“The price of greatness is responsibility.” –  Winston Churchill

What It Means to Take Control of Your Life & Business

In order to take control of your life and the fate of your business, you must understand your purpose in life and be willing to fulfill that purpose. It’s not enough to only desire a certain lifestyle.

You must stay true to what you really want to do in life. This means that you are mentally prepared to take on everything you need to in order to succeed. You follow strict self-set rules and guidelines that will help to keep you on track toward those dreams and goals. You don’t give up.

You keep going when things get tough, and you never see failure as an obstacle. You aren’t discouraged. You accept minor bumps in the road on the way to your destination, because you know you will ultimately reach your goal, and you won’t stop until you get there.

Here are three factors that personally helped me succeed:

1. Becoming more organized

Prior to organizing my tasks and goals, I was just flying by the seat of my pants and wondering why I wasn’t progressing at all. That’s because I didn’t have a set direction.

Becoming more organized helped me to prioritize what needed to get done in order to grow my business to the place where it’s at today.

2. Starting my off my day with positive affirmations

Positive affirmations are more powerful than you may believe. I started each day reading and reciting a quote that was positive and inspiring in nature, which exponentially increased my motivation and mentally prepared me to take on each day.

“Make each day your masterpiece.” – John Wooden

3. I developed long-term goals and stuck to them

Instead of working every day toward the unknown, I decided to set long-term goals. The kicker in helping me stick to these goals was creating smaller milestones that kept me on track and focused which gradually led me up to the ultimate goal.

Although I recognized that the ultimate achievement (of growing my business) was still at hand, my behavior was reinforced by a consistent sense of accomplishment upon completing these smaller goals.

If you are willing to stay focused, motivated, commit the time, effort, and energy toward reaching your goals, and you truly believe that you can and WILL achieve them, then there is nothing that will stop you in your path toward success.

As William Earnest Henley’s famous poem “Invictus” states, “I am the master of my fate, I am the captain of my soul.” You are the master of your fate and the captain of your soul. Once you wholeheartedly believe this, then you will harness your true power, unlock your full potential, and begin to live out your truth and reach the level of success you’ve always dreamed of.

What is success to you? Let us know in the comments below!

Image credit courtesy of Twenty20.com

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Success Advice

The 3 P’s of Irresistible Leadership: Passion, Persistence, and Panache

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If any of you reading this have ever studied the theoretical underpinnings of leadership, you will have come across several theories such as the great man theory and charismatic leadership theory. Over the decades, leadership has evolved more from an art of telling people what to do to that of subtle influence, suggestion, and rendering by example.

In my new e-book “High-Octane Leadership: Pole Position Performance,” I mentioned that the goal of the manager is to create followers, but the goal of a leader is to create new leaders! This is a relatively new concept in leadership! There are many new and emerging micro theories of leadership that can be expounded upon and useful to individuals looking to assimilate a leadership style.

Here are the 3 P’s of irresistible leadership:

1. Passion

No great achievements, no illustrious undertakings, and no works of genius have ever occurred without the infusion of passion. Passion creates connections where none existed before.

Passion heightens the desire in the individuals who have opted to follow, and it has moved individuals forward toward a common vision. Leaders such as Steve Jobs, have to demonstrate a sense of passion in everything. Although his passion could be somewhat subdued, there is no doubt that when it came to any Apple products, he was the number one salesperson, champion, and evangelist.

“When you’re surrounded by people who share a passionate commitment around a common purpose, anything is possible.” – Howard Schultz

2. Persistence

For years when I was in direct sales, I had an 8.5 x 11 sheet with a cartoon on it hanging over my desk. It was a crane (that’s the bird, not the machine) who had a frog in his rather ample bill. However, the frog’s arms came out of the side of the crane’s mouth and were clutching the crane by the throat so that he (the crane) couldn’t swallow the frog. Underneath this caption where the words, “never, ever give up!

Leaders persist! They understand that there is always a way to solve the problem. Following this understanding, there must be subsequent action that follows, and this can lead to enthusiasm and optimism!

3. Panache

Leaders are self-confident people. They have systematically developed confidence over the years. In situations where they don’t feel confident, they make themselves feel confident. Confidence is learned. It’s a mental model and a cognitive mindset of how we approach problems.

Leaders understand and know that they will solve the problem before them; it’s not a matter of guessing, it’s a matter of knowing.

“Positivity, confidence, and persistence are key in life, so never give up on yourself.” – Khalid

If you buy the notion of passion, persistence, and panache as attributes of irresistible leadership, the question before us now turns on how do we develop those skills?

Here are a few behaviors that leaders use on a consistent basis to develop new skills:

  • Awareness – Great leaders and irresistible leaders always have their antennae up. They are always looking for ways to improve. They understand that self-improvement is a never-ending process to be embraced, even if the execution of the new behavior is difficult!
  • Repetition – Irresistible leaders practice their new skills. They will practice them in front of their subordinates, their family, and in front of themselves while staring at their face in a bathroom mirror! They understand the way to install a new habit of behavior is like with any habit, repeating it over and over again.
  • Feedback – Irresistible leaders are not afraid to ask how they are doing. And, they are not afraid to hear the answer. They understand that the best answer is that they are doing well but the next best answer is that they are not doing well, instead of not being told about their potential flaw. They understand that input in terms of behavioral awareness is one of the singular most important things one can attribute to leadership performance and style.

Try this: take an 8.5 x 11 sheet of paper and draw three columns. Atop each column write passion, persistence, and panache. On the left-hand side in the margin of the page, write awareness and 1/3 of the page down, write repetition, and then at the bottom one third the word feedback.

Writing solidifies thought, and it is that solid thought that motivates us into action. You will find yourself becoming more aware of opportunities to develop in each of the 3 P’s of irresistible leadership. Document them! Then jot down ideas down about how you can repeat those new behaviors. Finally solicit feedback and document what you’ve heard.

In the span of several weeks you will have developed new and exciting leadership attributes. Continue this new and exciting habit for other leadership development opportunities.

Which one of the 3 P’s do you need to work on most and why? Let us know in the comments below!

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Success Advice

It’s The 50 Things You Do Beforehand That Lead To Your Ultimate Success.

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Oh great, another tricky, dicky headline from that knob jock blogger Tim.”

That’s what you’re thinking, I know.

Well, I love sharing the truth and a lot of the time it doesn’t look pretty. There’s a vision we all have to do something incredible even if we don’t admit that publicly. Incredible, by the way, could just mean raising a family of beautiful children.

The thing is that not having the answers to what that end goal looks like is the best part. Let me explain.

Right now what you see is my blogging career. Before today there were 50 other things that look totally unrelated on the surface.

Here’s how I got to now:

  • Started out swimming as a child then quit
  • Played the flute and then quit
  • Joined a choir, then my voice broke, then I quit
  • Began playing drums then quit
  • Became a DJ then quit
  • Started producing other peoples music then quit
  • Became a successful entrepreneur then quit
  • Trained to be a fitness freak and then quit
  • Became a finance professional then quit
  • Mastered the world of tech and then partially quit
  • Wrote 400+ articles for a blog called Addicted2Success and didn’t quit
  • Published more than 500+ articles on Medium and didn’t quit
  • Published content on LinkedIn every day for a year and didn’t quit

Here’s my point: those last three dot points are what you see now but what you can’t see is everything that came before I started blogging.


Everything you do plays a part in the end result.

While singing in a choir might seem totally unrelated to blogging it’s not. Just like djing and swimming are not unrelated either.

Swimming taught me to overcome my fear of deep water.

Being in a choir taught me what it was like to be on stage in front of people.

Djing taught me artistry and creativity.

The 50 things I did prior that you didn’t see allowed me to do what you see me doing now in the form of blogging.

No matter what you start and stop in life, it will play a part in the 1–2 things that you end up being successful at and hopefully become known for.

Don’t discredit anything that transpires in your life. Every day is contributing something valuable to your future success even if it doesn’t look like it”


Not having the answers is what makes it fun.

If I could tell you right now how you’d get to your ultimate success, it would take away all the fun.

Never in a million years did I expect to become a blogger but here we are.

Getting here has been a load of fun and I still have no idea where this will all lead. Maybe, like Tim Ferriss, blogging could lead me to podcasting. I’ll never know if blogging is my ultimate version of success and that’s the best part.

All of us (including me) are just taking steps forward and learning as we go.

Quit trying to have all the answers because it’s not going to make any difference in the long run.

You can’t predict success all you can do is work your way towards it and earn it for yourself.


Don’t underestimate the ‘art of doing’

I’m obsessed with the doing because it’s the only thing I can control.

I’m reminded daily about the ‘art of doing’ by people who reach out and want to also be known for blogging.

Many of these wannabe bloggers write something but never publish it because it’s not perfect.

Then they finally get the courage to hit publish and the world doesn’t stop and notice their Harry Potter, chart-topping piece of writing. It’s an anti-climax for them which makes them spiral further down the black hole of disappointment.

What these wannabe bloggers underestimate (without sounding too cocky) is that if they repeated the habit of publishing something every day for a year that’d be able to see where blogging could lead.

Hitting publish once is not enough and the first time you do it, it will probably suck.

The only trick for the record that I’ve ever used to accelerate my success in blogging is hitting publish as often as I can and being disconnected from the result. JonWestenberg taught me this.

Even if you fail at something like blogging it will lead you to the next thing and the next thing and so on. Eventually, you’ll find what it is that lights you up and helps you to achieve your own version of success.

Nobody (including me) can predict what that one thing will be. My advice is the opposite of many people out there. Change around your hobbies/passions as much as you like.

Learn something from one field and then move on. While you experiment and switch paths, you’ll eventually find what you’re looking for. I hope you can see that to be true through the story I’ve just shared.

<<<>>>

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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Success Advice

Are You Really a Leader? 3 Questions That Will Help You Find the Answer

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Being a leader is a lot of responsibility. People look to you to make decisions, direct them, provide support, and get results. A true leader is an amazing presence: a humble yet confident person who inspires those around them.

Unfortunately, a lot of people think they’re leaders, but really aren’t. In fact, according to talent scientist Tomas Chamorro-Premuzic, 80% of people believe they are better-than-average leaders, which is objectively impossible. I see people claiming to be leaders all the time, but they’re all talk and no substance.

What is Leadership?

A lot of the people I talk to seem to think that you become a leader just by having a job managing people. That’s simply not true. Leadership is a balancing act that would make a master juggler impressed.

True leadership involves making sure that there is a happy balance between employees’ needs and the company’s needs. If only the employees’ needs are prioritized, the company won’t be profitable. Likewise, if only the company’s needs are considered, employees will leave.

True leaders have the self-awareness and strategic skills to understand this delicate balance and understand their role in creating those key compromises.

“The key to successful leadership today is influence, not authority.” – Ken Blanchard

Can You Be a True Leader?

Although there are a number of different leadership styles and theories out there, leadership boils down to a few essentials. Leaders need the emotional intelligence to navigate difficult and uncomfortable situations while being able to inspire others to take action. There’s a big difference between saying you’re a leader and acting like one.

If you want to increase your self-awareness and find out if you’re a leader others can rely on, start by asking yourself these three questions:

1. Do you want to be a leader?

It may seem unfair, but in my experience, the people who make the best leaders don’t necessarily want to be. You only want what you don’t have, and same rings true here. If you want to be a leader then you probably aren’t focusing on the right aspects of leadership.

True leaders are natural trail-blazers, but they don’t set out to lead anyone. People just happen to take note of their talents and confidence and look to the person for advice and guidance.

2. Do you have an original vision, or are you just power-hungry?

Why do you want to be a leader? Is it so you have the final say, or do you have actual goals you want to accomplish with a team? True leaders don’t feel threatened by others—they’re too busy getting stuff done. Leaders typically don’t need to test or confirm their power.

If you think good leaders give directions and just want others to listen, you’ve got it wrong. The best leaders often don’t need to speak a whole lot—they listen and observe, they think deeply, and when they do speak, it’s meaningful.

A true leader acts and others follow those actions because they trust and respect the leader. It isn’t about a power battle or an ego trip. Leaders have a true vision.  

3. Are you willing to do the dirty work?

You don’t get to be a leader if all you do is sit around, give orders, and let other people do the dirty work. Real leaders are humble, and no work is “beneath” them.

They want to know what’s going on at the ground level, and they want to help their people when they’re struggling. If you’re not willing to talk to a customer or back your employee up in a bad situation, you don’t get to call yourself a leader.

“Leadership is a choice, not a position.” – Stephen Covey

Becoming a Self-Aware Leader

How did you do? Maybe you’re not cut out to be a leader. Maybe you are. Maybe you need to work on a few things first.

Real talk: being a good leader isn’t easy. However, becoming a true leader benefits everyone around you and can be extremely fulfilling. If you’re more determined than ever to become the best, most self-aware leader you can be, that’s great news: we need more leaders out there.

What are the characteristics of a great leader in your opinion? Share with us below!

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