Category Archives: Habits

REWIRING YOUR SUCCESS

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BOOK TITLE : REWIRING YOUR SUCCESS:  |  AUTHOR : JOHN QURESHI
Success is not a matter of luck.
Successful people are not just lucky; they make their luck by taking action and persevering through setbacks.
Success is a journey, not a destination.
There is no one-size-fits-all formula for success. What works for one person may only work for one person. The important thing is to find your path to success and to be willing to make the necessary sacrifices along the way.
Success is not about money.
Money is important, but it is not the only measure of success. Successful people also find fulfillment in their work and make a positive impact on the world.
Success is a habit.
Successful people have developed habits that help them achieve their goals. These habits include setting goals, taking action, and never giving up.
Success is a choice.
You choose to be successful or not. It is not something that happens to you; it is something you create.
Success is a mindset.
Successful people have a positive mindset that allows them to see possibilities instead of obstacles.
Success is about personal growth.
Successful people are constantly learning and growing. They are unafraid to step outside their comfort zones and try new things.
Success is about giving back.
Successful people use their success to help others. They know they are not alone and feel responsible for giving back to the community.
Success is about leaving a legacy.
Successful people want to make a difference and be remembered for their positive contributions.
Success is possible for everyone.
You can achieve your dreams no matter where you come from or your circumstances. It takes hard work, dedication, and perseverance, but you can reach your full potential.

10 Lessons from The 80/20 Principle: The Secret to Success by Achieving More with Less
  1. Identify the critical 20% of activities or efforts that yield 80% of the desired outcomes and prioritize them over less important tasks.
  2. Work smarter, not harder. Focus on maximizing efficiency in the tasks that deliver the most significant results rather than trying to do everything.
  3. Streamline processes and eliminate unnecessary complexity to increase effectiveness and productivity.
  4. Develop a strategic mindset by focusing on high-leverage activities that align with long-term goals and objectives.
  5. Recognize that not all decisions are equally important. Focus your time and energy on decisions that have the most significant impact on your goals and outcomes.
  6. Identify and leverage resources, talents, and opportunities that contribute the most to your success.
  7. Embrace a continuous improvement mindset by regularly evaluating and refining your strategies and processes.
  8. Remain flexible and adaptable in the face of changing circumstances. Be willing to adjust your approach as needed to stay aligned with your objectives.
  9. Recognize and mitigate potential risks that could derail your progress toward your goals.
  10. Seek balance and harmony in your life by focusing on what truly matters and letting go of unnecessary distractions or obligations.

Create The Life You Want

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How To Create The Life You Want in 2024:

You can make excuses all you want, try to escape reality through whatever makes you forget it for a while, and keep delaying achieving your goals and creating the life you want.

But sooner or later, you’ll realize that You will need to change yourself to get what you want. The longer you stay in denial, the lower your odds are of achieving your goals and creating the life you want.

Source:  Psyche Wizard https://x.com/psychewizard/status/1740995700052431228?s=46&t=mF_tsrQnjgviyl62GYfJjw

Essentialism: The Disciplined Pursuit of Less by Greg McKeown

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Essentialism is a disciplined way of thinking and acting that allows you to discern the vital few from the trivial many. It’s about learning to do less but better so that you can make the highest possible contribution.

Say no to the good so you can say yes to the great.

It’s only possible to do some things, so being selective about what you say yes to is important. Focus on the essential things that will have the biggest impact. Take a close look at your life and identify the things that are not essential. Once you know what they are, eliminate them from your life so that you can focus on the things that are truly important.

It’s okay to say no to requests, even if they come from people you care about. If something is not essential, don’t be afraid to say no so that you can focus on the things that are.

Protect your time since it is your most valuable resource, so please keep it carefully. Don’t let other people steal your time or pressure you into doing things that are not essential.

And it would be best if you took care of yourself. Ensure you get enough sleep, eat healthy foods, maintain close relationships, and exercise regularly. When you take care of yourself, you’re better able to focus on the things that are essential.

Essentialism is a powerful way to live a more meaningful and fulfilling life. It can help you learn to focus on the truly essential things and make the biggest impact.

Follow a Compass

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Conventional wisdom says that to be successful, you should build a career plan: Map out where you are now, where you want to be, and the steps you’ll need to take to get there. However, Seth Godin, a bestselling author,  disagrees with that conventional wisdom since he never followed a predetermined path. His advice: Use “a compass and not a map.”

Your compass is your vision — who you aspire to be outside of a job title. Following it means pursuing decisions that make you happier and more content in the short term rather than following a pre-planned set of steps that may or may not eventually lead to your “dream job.”

Maps are great! They get you from point A to point B and help you stay on the right track! Yet, everyone’s got the same map, following the same routes, visiting the same sights. So, if you try to run your business or career using a map, your business or career will look, sound, and feel like any other out there. How do you stand out like that?

As a business owner and individual, what you need is a compass!

This won’t give you a step-by-step guide. No, it does something better! It points you towards your goal, leaving the path to reach it totally up to you. Unpredictable turns and unexpected terrains provide the chance to craft a unique journey. That’s what will make your business stand out!

Now, I’m not saying that you should throw away the map! Glance at it from time to time to see what routes work and which ones lead to nowhere. Just don’t follow it unthinkingly, or you might end up like some of the drivers who follow GPS without using their judgment – in a lake!:D

Your business needs that compass mentality. It’s not about retracing steps but charting your unique journey.

Those decisions may not always pan out, but you’ll learn enough from each failure to succeed eventually, Godin said.

Habits Matter

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“The real reason that habits matter is that your habits are how you embody a particular identity. So every action you take is like a vote for the type of person you wish to become.” ~ James Clear, Entrepreneur and bestselling author of Atomic Habits

James Clear, New York Times bestselling author of Atomic Habits, has inspired readers to change their health behaviors for the better. He puts it simply:

“Who we are reflects our habits.”

With his helpful metaphors and refreshingly straightforward and sustainable mindset techniques inspired by psychology greats, he contends that we can all build habits that make us shine.

“Look at a stone cutter hammering away at his rock, perhaps a hundred times without as much as a crack showing in it. Yet at the hundred-and-first blow it will split in two, and I know it was not the last blow that did it, but all that had gone before.” ~ Jacob Riis

The boulder did not crack just because the one hundred and first hit, but the accumulative effects of the previous hits. Thus, you must have the mindset of patience and wait for the results that will come.  Be patient and let things accumulate.

Habits matter are how you habit are how you embody a particular identity.

Small Habits

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Small habits, consistently practiced, can lead to big transformations.

Just remember that “Reading 20 pages per day is 30 books per year. Saving $10 per day is $3,650 per year. Running 1 mile per day is 365 miles per year. Becoming 1% better per day is 37% better per year. Small habits are underestimated,” writes James Clear in Atomic Habits.

Cultivate the small habits that align with your goals and watch your life change. 

Don’t focus on goals. Instead focus on your habits that will take you to your goals. It’s you vs. you.

Successful Investor’s Psychological Mindset

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“Doing well with money isn’t necessarily about what you know. It’s about how you behave. And behavior is hard to teach, even to really smart people.” ~ Morgan Housel, The Psychology of Money

Individuals must understand that there is a psychological mindset that the successful investor tends to have.

The successful investor will focus on probabilities, intrinsic values and safety of margin while letting decisions be ruled by rational, as opposed to emotional, thinking.

Investors’ emotions are their worst enemy.

The psychology of money is the study of our behavior with money. Billionaire investor Warren Buffett contends that the key to overcoming emotions is being able to retain your belief in the fundamentals of the business, and not get too concerned about the stock market price.

Investors should realize that there is a certain psychological mindset that they should have if they want to be successful, and try to implement that mindset. Dave Ramsey has said that building wealth is “20% head knowledge and 80% behavior.”

Value investing mindset

Value investing derives the intrinsic value of a common stock independent of its market price. By using a company’s factors such as its free cash flow, earnings, return on invested capital, and dividend payouts, the intrinsic value of a stock can be found and compared to its market value. If the intrinsic value is more than the current price, the investor should buy and hold until a mean reversion occurs.

Mean reversion is the theory that over time, the market price and intrinsic price will converge towards each other until the stock price reflects its true value. By buying an undervalued stock, the investor is, in effect, paying less for it and should sell when the price is trading at its intrinsic worth. This effect of price convergence is only bound to happen in an efficient market.

The fundamental principle of value investments lies in the ability of the markets to eventually correct to their intrinsic values. Common stocks are not going to remain inflated or bottomed-out forever despite the emotions and irrationality of investors in the market.

References:

  1. https://www.investopedia.com/terms/b/bengraham.asp
  2. Morgan Housel, The Psychology of Money. Harriman House, Great Britain, September 8, 2020.
  3. https://www.amazon.com/gp/product/0857197681/ref=as_li_tl_nodl?

Warren Buffett’s top 10 rules for success

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Billionaire investor Warren Buffett, “Oracle of Omaha, has a set of rules, principles and philosophies when it comes to making a decision, investing, managing the business and also building success in life. And his success principles can be summarized with the top 10 rules below.

“Don’t be afraid to give up the good to go for the great.” – John D. Rockefeller.

  1. Find Your Passion. Almost every successful person agrees that finding and following your passion is something important if you want to produce an amazing result in life. There is no guarantee that you will be able to find your passion in your first job, but you have to keep digging until you find it. Steve Jobs once gave a commencement speech at Stanford University and said: “Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it.” The only way you can produce outstanding work is through passion. Without passion, you will do things with the half-hearted approach and there is no way you can become the best this way. Thus, find your passion, do what you love and you will be able to produce amazing success in life when you do.
  2. Hire Well. If you want to be a billionaire, there is no way you can go about it all by yourself, you need to have a great team. And to have a great team, you must learn to hire well. Always remember that you cannot succeed alone in this world. You need other people’s help to bring you the success you want. And your people will be your greatest assets. According to Buffett, he emphasizes on 3 qualities when he hires, and they are, integrity, intelligence, and energy. Buffett also said that out of those 3 qualities, integrity comes first. He also jokingly said that you do not want to hire someone who has no integrity but has a lot of intelligence and energy. Integrity comes first. Without integrity, other qualities do not matter much
  3. Don’t Care What Others Think. It is important not to care what others think. And this is extremely important because you do not want to take into consideration what other people have to say, because you will be influenced and will never be able to hold onto your investing principles. If you was to listen to what others said, he will become like most people, living an average life. When it comes to achieving the success you want and living your dreams, there will be people telling you that achieving what you want is impossible and simply suggest you get a real job. Never listen to the naysayer. You have to follow your heart and do what you think is right. Circle of Competence” is what he has used as a way to focus his investment on only operating in areas he knew best. The concept basically explains that every one of us has developed useful knowledge on certain areas, and what we need to do is to operate in these areas that we are good at. When you care too much about what others think and say about you, you will restrict your own freedom and it will prevent you from living your best life according to your own terms.
  4. Read, Read, Read – The more you read, the smarter you will get and the more knowledge you will gain. When you become more knowledgeable, you will be able to make a better decision that will lead you to the success you want. Highly successful people are great readers and you have to adopt the same habit. Commit to reading every single day. If you find that you are busy and do not have much time to read, start small and read for 15 minutes a day. If possible, go for more. Read at least an hour a day. You can wake up earlier and make time for reading or you can make good use of your commuting time for reading. You need to be a lifelong learner and when reality changes, you need to change and adjust you strategy.
  5. Have A Margin of Safety – The concept of “margin of safety” is easy to understand, and requires great discipline and patience.  Buffett uses the metaphor of driving across a bridge to explain this concept. When you build a bridge, you insist it can carry 30,000 pounds, but you only drive 10,000-pound trucks across it. You have a margin of safety of 20,000 pounds. And when it comes to investing, you will never buy a business worth $50 million for $60 million. You will buy the business worth $50 million at a price below that to ensure there is a margin of safety. This concept is essential in the principle of value investing. It helps investors make better and wiser decisions before jumping into buying a stock. When an opportunity is presented, evaluate using the margin of safety concept before you decide.
  6. Have A Competitive Advantage – Buffett said that capitalism is all about somebody coming in and trying to take the castle. And what you need for your castle is a moat to protect your castle from your enemies. In the business world, your business needs to have a durable competitive advantage to survive for the long term. Today, the competition is tough and people can copy exactly what you do and produce the same product and put you out of business. This is why having a competitive advantage to protect your business like a moat protecting a castle is important. Buffett said that he will invest in businesses that have a competitive advantage because he wants to make sure that the business will still be around after years down the road.
  7. Schedule Your Personality – Build your business around your personality. In order to succeed in what you do; you must find your pace and your sweet spot so that you will enjoy your work and perform at your best. Buffett loves reading and he chooses to read to improve his knowledge, and then he acts as the strategist and manages his business from backstage. He organizes his business according to his personality. If you love drinking a cup of coffee before you start your work, do it. Organize your workspace according to your own taste, that will make you more productive. The key is to play to your strength and personality so that you can become the best at what you do.
  8. Always Be Competing – Buffett believes that one of the most common business killers is complacency. When people fall into their comfort zone and fail to improve their competitiveness, their businesses will eventually fail or be taken over by the competitor. And to stay ahead of the game, you must always be competing. Every business has problems in every industry. The key to making a business thrive is its ability to compete and stand out from the rest. And this is why you invest in a business that continues to thrive because you are always competing. Therefore, never rest on your laurels, keep competing, keep improving and innovating in your business.
  9. Model Success – There is no way you can succeed alone in this world. If you want to achieve great success in life, you need others. and, you must model other successful people, or better yet, get yourself a mentor. Take a look in the sports industry, every outstanding and professional athlete has a coach. Tiger Woods has a coach. Michael Jordan has a coach. You need a coach to guide you on the journey to success. Your coach can also remind you of your goals and inspire you to do your best. In business, having a mentor is said to be one of the most important keys to success. Success leaves clues and what you need to do to produce a great result is to model the success of others. Learn and study from others, and then learn, grow and improve yourself to become better.
  10. Give Unconditional Love – Finally, the most powerful force in this world is unconditional love. And everyone who wants to achieve success in life gives unconditional love.
  11. Bonus: Power of Compounding – “The power of compounding your money inside a successful business for a long time is nearly unmatched in capitalism.”

The final rule for success by Warren Buffett has a lot to do with your personality and beliefs. Being a philanthropist, Buffett believes in helping society and giving back to the world. This could be the reason why he has been so successful. He is always looking to help and to give, rather than to take. When you operate in a giving and grateful mindset, you will put your customers first, and this is what makes a business enterprise thrive

Source:  https://www.thewisdompost.com/billionaires/warren-buffett/warren-buffetts-top-10-rules-success/1575

10 Rules of Success According to Oprah

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Oprah Winfrey is known as one of the most successful individuals globally and her estimated net worth is almost $3 billion! To her degree of success and power, it took a lot of perseverance and wisdom.

Here are the ten rules of success according to Oprah Winfrey.

  1. Rather than overwhelming yourself with the big picture, ask yourself what the next right move is. It’s easy to feel intimidated by everything on your plate, so instead of facing such an enormous proposition, take things one step at a time. Make the best next move you can, then make the next move, and then the next one, each time going as carefully and as thoughtfully as you can. Success isn’t one giant leap — it’s a series of baby steps. And, if you make one misstep, understand that your life and your career won’t be defined by that one mistake. You have more steps to take, and you’ll arrive at success eventually.
  2. When you see an opportunity, take it. Success has been a result of grace and blessings, but there’s also been opportunity. The key to being successful is to recognize when opportunity is in front of you and seize it.  “Luck is preparation meeting the moment of opportunity,”
  3. Forgive yourself for your past mistakes. You’re not the person you were five, ten, twenty, or more years ago. A lot of wisdom just comes with age, so don’t beat yourself up for youthful transgressions. You didn’t know any better — but you know better now! Look at those past mistakes as teachable opportunities, learn as much as you can from them, and then move forward.
  4. Never stop improving yourself. This means continually working on your personality, your skill set, and your network so that you are in the best possible position to make a difference. You always need to be improving if you want to get ahead. If people are saying that about you, take it as a compliment. You’re doing a lot, and others are noticing.
  5. Go as hard as you can. Recognize and take responsibility that you have control only over your own performance. You can’t control what others are doing. All you can do is the best you know how, all the time. It’s like a race: you just run hard until you read the finish line, and all you can do is make yourself run more quickly, not make your competition run more slowly. That’s what brings you success: building yourself up, not looking behind you to see where your competition is.
  6. Don’t just dream — believe. It’s OK to have big dreams for yourself; we all do. But if you’re going to be successful, you’ve got to do more than dream. You have to believe that the life you aspire to lead will one day be yours. Winfrey always knew that she would live a big, fulfilling life; she had that strong belief in what her future held. Do the same, and hold firmly to that belief, even in the most difficult of times, and you’re likely to get exactly where you want to be.
  7. Remember that people are more alike than they are different. We’re all seeking the same thing, We all want to reach our fullest potential. Sure, we all go about that in different ways, because we all have different skills and different passions, but at the end of the day, we all just want to be true to ourselves and be, the “truest expression” of ourselves.
  8. Find your purpose in life. If you’re going to be successful, you need to figure out why you’re here on Earth. Most entrepreneurs already feel like they know their purpose, but if you don’t, stop! Put everything on pause, take some time for genuine soul searching and self-reflection, and find your purpose. Find your why!
  9. Keep yourself grounded and centered. It’s easy to get lost in your work, and it’s easy to let your ego inflate, but if you keep your focus, stay compassionate, and always seek to understand and connect with others, you’ll improve your chances of success substantially.
  10. Try to remember that everything will be OK. If you’re aiming for big time success, you’ve got to be patient and take the long view. Yes, it’s natural to be a little scared, but never lose faith that everything will work out just fine.

Source:  https://moneyinc.com/10-rules-success-according-oprah-winfrey/

Building Wealth ‘One Brick at a Time’

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“Rome wasn’t built in a day, but they were laying bricks every hour.” – James Clear

Laying bricks systematically to build a city works similarly well for building wealth. Building wealth is a slow systematic process of investing over the long term and compounding returns over time for most savers and investors. Successfully building wealth is not an overnight success.

“Goals are good for setting a direction, but systems [habits] are best for making progress.” ~ James Clear