Below is a summary of The Secrets of Self Made Millionaires.
To be successful in your life – (1) develop your inner quality, the quality inside you, by keep learning and cultivating new skills. All skills are learnable. You may away from one skill that makes you success. Once you find it and master it, your life will be improved financially, emotionally and spiritually. And (2) follow the successful people. Success leaves tracks as such the successful people leave the road maps that make them success. Do some researches to find out why they are successful, what make them succeed, how they do thing differently and so on. Then you just follow their tracks and rituals which are the activities that they do every day persistently.
However, nothing works at the first time. DON’T GIVE UP. When you fail, learn from the failure. Treat the failure as feedbacks that we can use to avoid future failure and to develop our quality. Henry Ford said “failure is a million opportunities to more intelligently to start again”. DON’T GIVE UP!
Brian Tracy said “becoming a self-made millionaire is not important thing; the really important is the person you have to become”. Here are the secret steps to be a self-made millionaire that he gives:
- Dream Big Dreams – practice idealization, project and imagine that you have no limitation to do anything you want to accomplish in your life.
- Do What You Love To Do – when you do something you love to do, it will give you energy and motive you to find ways to make a living doing it.
- Commit to Excellent – You have to do the best and excellent in your field. You have to pay the price, work hard and make scarify to move you to the top.
- Develop your unique talents and abilities – ask yourself what you are good at today, what should you be good at, what could you be good at, what will you be good at. Looking back to figure out what you have done and what is the most responsible you did in the past that make you success today. Then develop those talents and abilities to the top.
- See yourself as self-employed – You have to see yourself as being in charge of your own life – not one else. You have to be a slave holding full accountability to your own life.
- Develop a clear sense of direction – you have to be intensely goal-oriented. You got to know what you want in all areas of your life. H. L Hunt, Jr., Texas oil tycoon, said “the keys to success are (1) decide exactly what you want, then right it down and make a plan to achieve it; (2) determine the price you are willing to pay to get it; and (3) then determine the results to pay that price. Law of Cause and Effect – what price you put out until now causes you to get the result today.
- Refuse to consider the possibility of failure (fear of failure) – It is not the failure that takes you back, but it makes you smarter. Every time you fail, you get feedback which is overtime make you smarter and stronger to stop failing. Think failure as feedback. No such think is failure. It is feedback. Henry Ford “failure is a million opportunities to more intelligently to start again”
- Dedicate yourself to a lifelong learning – to develop your personal and professional lives. Continue learning through (1) read in your field of best-selling books or other reading platform 30 minutes every day; (2) take a course in your field as many as possible; and (3) Listen audio program in your car.
- Develop a workaholic mentality – work hard, work better, work smarter. Follow working formula he called 40+. It means that if you work less than 40 hours a week, you work just for survival. If you work more than 40 hours a week, you invent in your future growth. When you work, work – don’t play. Don’t waste time.
- Get around the right people – he said 99% success in your life is determined by your reference group – the people whom you associate with. If you associate with winner and successful people, your life become transform because of new ideas, knowledge, life style, working style and so on that you gain from those successful people.
- Be prepared to claim from peak to peak – He said life is up and down. You have to build your foundation and develop backup mechanism to prevent from falling too much. If two steps forward, at least you can prevent to only one step back when downturn.
- Develop resilience and bounce back – he talked about “mental rehearsal”. You have to be mentally prepared before downturn is going to happen. If thing goes wrong, bounce. When downturn comes, you feel ok with it and don’t be upset or blame somebody or something. Instead, you have to work on finding the resolutions.
- Mind storming – Pick one goal and find at least 20 answers or plans of actions to achieve it.
- Become an unshakable optimist – follow these three qualities to keep thinking positively (1) learn more thing, (2) try doing morn thing; and (3) persist longer and never give up.
- Develop the qualities of courage and persistence – think, plan, make decision, and take action – never give up and courage to consistently bounce back when fall.
- Quality of Self-Discipline – the ability to make yourself to take action, what you should do, when you should do it whether you feel like it or not.
This summary is brought to you by Mr. Sara Nguon
Sara is a social entrepreneur. His passion is to share simple and actionable knowledge and wisdom with the world.