Search Results for: fact binder

Start a Fact Binder

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88% of wealthy, successful people read an average of 30 minutes each day. Their reading topics? Career-related, self-help, educational, biographies, history, current events and anything related to a major goal or some extracurricular pursuit. While reading is important, retaining important information uncovered in your reading is critical to learning new facts and information. One strategy to do this is the Fact Binder. In your Fact Binder create various topic sections that are meaningful to you. Each day, after reading, add any new facts or information to your Fact Binder. You can even add a section titled: “New Words” where you add any new words you come across in your reading. Writing down what you read has a way of reinforcing what you just read. Abraham Lincoln would write things down 3 times in order to commit them to memory. The physical act of writing somehow acts to create a new neural pathway that  allows the new facts or information to stick. Once a week go over the new information you added. That will help reinforce the learning.

The Binder System

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I’ve been using something I call the Binder System since I discovered it during my Rich Habits Study. The Binder System helps you in your quest for success. Each binder is a tool in your success tool belt.

Fact Binder

In my research, I found that self-made millionaires were dedicated to daily growth and daily self-improvement. Each day, they sought to increase their knowledge through reading, listening to audio books, listening to podcasts, watching educational video, attending seminars, webinars, tele-seminars, participating in formal or informal mastermind groups and asking questions of others to gain more insight and expertise. This enabled them to grow their knowledge each day to help them evolve into the person they needed to become in order to realize success.

While reading is important, retaining important information uncovered in your reading is critical to learning new facts and information. One strategy to do this is the Fact Binder. In your Fact Binder create various topic sections that are meaningful to you. Each day, after reading, add any new facts or information to your Fact Binder. You can even add a section titled: “New Words” where you add any new words you come across in your reading. Writing down what you read has a way of reinforcing what you just read. Abraham Lincoln would write things down 3 times in order to commit them to memory. The physical act of writing somehow acts to create a new neural pathway that allows the new facts or information to stick. Once a week go over the new information you added. That will help reinforce the learning.

Mistake Binder

The Mistake Binder is a running list of every mistake you make in life. Each mistake is documented on one page. You want to document four things on that one page: WHAT went wrong WHY did it go wrong HOW to avoid repeating it in the future LESSON you learned The goal is to get into the habit of filling your Mistake Binder with page after page of mistakes that you make. Then spend a few minutes every other week reviewing your Mistake Binder. This helps make the learning stick and will also keep the mistakes in working memory, acting like a radar system, alerting them when you are about to repeat a mistake. The Mistake Binder will take the taboo out of making mistakes and will change your negative perception regarding mistakes. You’ll soon find yourself embracing your mistakes and the lessons they teach.

Book Binder

This is a binder where, in 1-2 pages, you summarize the key points of every book you read. This binder gives you immediate access to these key points at any time.

Vision Binder

The Vision Binder includes a picture of every dream that you one day hope to realize. It gives you instant access to each dream, allowing you to easily document and review each dream. By periodically  reviewing each dream, you help consolidate it into long-term memory, allowing your subconscious to go to work behind the scenes to help you make your dream a reality.

Goal Binder

In this binder you list every one of the goals you want to accomplish in order to help you realize each one of your dreams. In my Goal Binder I put at the top of each page one dream. Then, on the same page, I list all of the goals I will need to achieve in order for that dream to be realized. In the Goal Binder each dream is your destination and the goals are your GPS – how you get there.

The Vision Binder

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As many of you know, I ‘m big on binders:

  • Fact Binder
  • Mistake Binder
  • Book Binder – This is a binder where, in 1-2 pages, you summarize the key points of every book you read.

I literally have 5 of these binders at my feet in my home office that I use almost every day to help me along the way in my success journey. I can’t take the credit for the idea, however. About a dozen of the self-made millionaires from my Rich Habits study gave me the Binder idea.

There’s another Binder idea I’d like to share with you called the Vision Binder. This is a binder that includes pictures of all of your dreams: your future home, future vacation home, future vacation destinations, future goals (pictures of goals you hope to achieve one day), future awards (awards you hope to win one day), future relationships (famous people you hope to get to know one day), etc.

The beauty of the Vision Binder is that you can continue to fill it and refer to it, day after day, without worrying about running out of room. Vision Boards are bulky and limited in terms of space and not very practical. Building your Vision Binder is a fun thing to do. Plus, every time you add something new to it, it immediately puts you in a positive mindset. You get happy, optimistic and enthusiastic every time you open it. Your personal, customized Vision Binder will keep you focused on your dreams and goals. It will keep you motivated and inspired. It will shift your mindset from negative to positive every time you open it. Start your Vision Binder today. Add it to your arsenal of success tools.

 

Focus Your Study – Learn Everything You Need to Know

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Growth in knowledge is critical for success. It was a very common Rich Habit of the self-made millionaires in my Rich Habits Study.

But, it’s impossible to know everything.

Therefore, you must focus your study on specific areas that will create the greatest return for the time you invest in your learning.

Let’s touch on these key areas:

  1. Learn everything about your job and the industry you are in.
  2. Learn everything about the dream you are pursuing.
  3. Learn everything about the people who can help open doors for you – the influencers.
  4. Learn everything about significant current events. They might come up in conversation with someone who may be a future door-opener (influencer).
  5. Every day, learn at least one new fact related to what you do. Document those new facts. I use a Fact Binder for this.
  6. Every day, learn at least one new word. Document your new words. Use them in conversation that very first day you learn the new word. Write down your new words. I use a Vocabulary Binder for this. It’s broken us into various sections: Words to Use in Writing, Words to Use in Speaking, Words Specific to My Industry/Profession. The words we use create perceptions. Being good with words makes you sound articulate and more intelligent. You want others to see you as intelligent.
  7. Learn something outside your comfort zone; something that will challenge your thinking and force you to re-evaluate your beliefs. The wrong beliefs will hold you back in life.

Process learning every day. Spend at least 30 minutes a day devoted to learning. Learning causes you to grow. Growth is a prerequisite for success in life.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Success Isn’t An Event

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Success isn’t an event, it’s a process.

We have become conditioned to view success as some singular event that transforms ordinary individuals into self-made millionaires.

The reality is that success is mostly incremental, not a one-off thing.

When you peel the onion down to its inside core, success is really the accumulation of knowledge or the perfection of some skill. It is the result of daily growth and consistent efforts that move you closer to achieving your goals and dreams. The more dreams and goals you realize, the closer you get to success.

The fact is, you become that successful person everyone wants to be, long before the money hits the bank account.

So, how do you create incremental success? It’s actually a simple process.

Knowedge-Based Occupations

Each month focus on learning one new thing. Ideally, this new thing should be something related to:

  • Your main job
  • A side job
  • Your side business
  • A future side business
  • Goals or a dream you are pursuing

Here’s the “Success Process”:

  1. Every day for a month spend at least 30 minutes reading about a new topic or subject (alternatively, you can listen to podcasts or watch videos on the topic).
  2. Write down important facts on a sheet of paper. I call this my Fact Sheet. I recommend creating a Fact Binder, broken down by topic, in which you will put all of your Fact Sheets.
  3. Summarize the most important facts, facts you desire to keep in permanent memory, on a “Summary Fact Sheet” for each month of the year. Ex: “January Fact Summary”, “February Fact Summary”, etc.
  4. At the start of every new month, review your current month’s “Summary Fact Sheet”, fifteen minutes every day, for the entire month.
  5. At the end of the month, put that month’s Summary Fact Sheet in the front of your  “Fact Binder”.
  6. Repeat this process each month focusing on a different subject, topic or new facts.
  7. At the beginning of the new year, review all of your prior year’s Summary Fact Sheets.
  8. Repeat this process every new year.

After one year you will have learned a significant number of new facts. You will have grown in your knowledge. This new knowledge will help you add value to those you serve.

Through this process,eEvery year you will grow and become more valuable to those you serve and they will be willing to pay you a premium in order to do business with you. The number of clients or customers will grow incrementally, along with your knowledge.

If you stick to this process, eventually you will have a large number of customers/clients, more money in your bank account, and a knowledge-base that no one can take away from you.

Skill-Based Occupations

Daily repetition in developing a skill is the hallmark of many skill-based self-made millionaires.There are two types of practice that lead to success:

Deliberate Practice

69% of the rich in my Rich habits study practiced some specific skill for two or more hours every day. Deliberate practice requires conscious practice as opposed to unconscious practice. Conscious practice is practice in which you study everything you do that goes into the skill you have. It’s about studying the intricate details that enable you to become a virtuoso at what you do.

Analytical Practice

Deliberate Practice will make you good at what you do. Analytical practice, however, takes you from good to virtuoso.

Analytical practice requires feedback. When you engage in Analytical Practice, you practice certain specific elements of your particular skill every day and seek feedback from another expert with similar advanced skills. This feedback often comes from either a coach or mentor, who is equally expert or more expert than you are at what you do.

Success is a process. It’s not an event.

My mission is to share my unique research in order to help others realize their dreams and achieve their goals. If you find value in these articles, please share them with your inner circle and encourage them to Subscribe. Thank You!

Tracking Your Way to More Wealth and Better Health

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As many of you know, tracking is a Rich Habit.

I’ve written several times about the fact that self-made millionaires track certain things:

  • Exercise – For cardio, they tracked how many minutes every day they jogged, biked, swam, etc.
  • Calories – Typically, this involved tracking calories consumed every day, by meal.
  • Learning – Some of the self-made millionaires maintained Fact Binders, in which they would document new facts that could prove helpful in their career or business. They would then periodically review their Fact Binder to keep the new knowledge fresh.
  • Relationships – Here, the millionaires typically maintained a list of successful/important people they wanted to build relationships with. This list included columns for Happy Birthday Calls made, Hello Calls made and Life Event calls made during the year. Oftentimes they would automate these calls using some computerized calendar such as Outlook.

I have been using all of these systems. The one I use most often is the Tracking Schedule for exercise and calories. I love it because it enabled me to lose 38 pounds in 2007 and has been responsible for keeping my weight at between 179 – 183 lbs for the past 11 years.

You can click on the link below to see an example of the one I use.

tracking schedule

It’s very difficult to change or improve what you don’t track. Tracking is like an accountability partner. It is another tool in your tool belt for success.

The Most Important Success Habits

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I am often asked by the media what are the most important Rich Habits. In my opinion, these are the top ones:

#1 Experimentation – Experimenting with diverse activities that can be monetized, until you find one or more activities that reveal an innate talent or which make your heart sing with passion and enthusiasm.

#2 Dream-Setting – Creating a script of your ideal life. This helps you to define your dreams and the goals behind your dreams.

#3 Daily Self-Education – 30 minutes or more a day of reading to learn. You can substitute podcasts, videos or audio books for reading. The key is to summarize what you learn. I use a Fact Binder to capture new knowledge/facts.

#4 Living Below Your Means – Living off of 80% of your net pay and saving the difference.

#5 Daily Aerobic Exercise – 20 minutes or more of cardio, every day.

#6 Healthy Eating – Two out of three meals that do not include carbs or processed food or intermittent fasting with one healthy meal a day.

#7 Automate Savings – Automatically directing 20% or more of your net pay into a savings account.

#8 Prudent Investing – Investing your savings prudently. This requires that you do your homework. By homework I mean studying every potential investment until you feel you are confident you understand it very well. Homework also includes regularly monitoring every investment you do make.

Curiosity is a Rich Habit

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Albert Einstein had it. So did Thomas Edison, Nicola Tesla, Benjamin Franklin, Mark Zuckerberg, Elon Musk and many other historical greats who we now consider geniuses.

Curiosity leads to new discoveries and innovation. Those who practice the Curiosity Rich Habit every day go on to achieve amazing things in life and in the process make themselves very wealthy. 

Curiosity is a Rich Habit because it is the precursor to learning and growth. Those who possess the Curiosity Rich Habit never stop learning and, thus, never stop growing.

When I discovered this common trait among the millionaires in my Rich Habit Study, I adopted it. I developed two processes, two tools, to help me build my Curiosity Rich Habit:

Fact Binder

Every day I add new facts that I uncover in my daily reading. This forces me to become curious about acquiring new knowledge.

I separated these facts into categories, or topics, that allow me to add new facts to the summary sheets for each category. Here are just a few of my categories:

  • Current Year Facts – Each year I list certain facts specific to a year, such as the winners of major sporting events, current heads of government, major events that occur (hurricanes, earthquakes, scientific discoveries, etc.).
  • Summary Facts – I summarize the most historically significant facts, such as the 10 Amendments, important Supreme Court decisions, athletic firsts, longest rivers, etc.
  • History – I document significant historical facts, such as the make up of the U.S. Constitution, the Louisiana Purchase, a list of all of the Presidents of the U.S., etc.
  • Studies – I have over 300 studies that I’ve read. I document the most significant ones in this section.
  • Wealth/Poverty – I document facts surrounding wealth and poverty.

Problems/Ideas Binder

Here I document everyday problems I observe in daily living. I also document certain ideas that pop into my head: ideas for future books, solutions to everyday problems, business ideas, article ideas, etc.

Curiosity forces awareness and awareness, in turn, feeds your curiosity. Successful, wealthy individuals have these two Rich Habits: Curiosity and Awareness. Both force you to grow and continuous growth is a prerequisite for success.

13 Habit Resolutions to Pump Up Your Finances in 2017

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If you want to change your life, you must change your habits. In my book Rich Habits I highlight which habits have the most impact over your life and in my followup book Change Your Habits Change Your Life, I explain how to make habit change quick, painless and permanent. Below I share some of the key habits to adopt for the new year along with some of the strategies to make habit change easier. [Read more…]

Strategies to Pump Up Your Knowledge

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Daily self-education is one of the Rich Habits of self-made millionaires. Self-education through reading, listening to audiobooks, listening to podcasts or watching videos such as TEDx talks causes you to grow in knowledge. The more knowledgable you become, the more valuable you become to those you serve. The more valuable you become, the more money you make. Below are some strategies I uncovered in my Rich Habits study that will help you maximize your learning time:

First Hour of the Day

The first hour of the day is the optimal time to engage in self-education. Your brain is just emerging from its alpha stage (sleep stage conducive to learning), is well rested and your willpower is at its highest. During this first hour devote 15 – 20 minutes of technical reading. Technical reading is any reading that is related to your what you do for a living. It is the hardest type of reading. Do your technical reading first. After completing your technical reading, devote another 15 – 20 minutes to any reading material that excites you. This could be inspirational reading or reading related to some hobby or passion.

Document What You Learn

Keep a Fact Binder broken up into a few key categories:

  • Job-Related
  • Passion/Hobby-Related
  • Current Events
  • Science
  • History
  • Health
  • Successful People
  • New Words

You should customize your categories to suit your interests. When you learn anything new, write it down in your Fact Binder.

Review What You’ve Learned

Repetition is the key to long-term memory consolidation. Spend 15 – 20 minutes each day reviewing your Fact Binder.

Blog What You’ve Learned

The process of writing down what you’ve learned helps transfer that new knowledge to long-term memory.

Communicate New Knowledge

Sharing new information with others improves your understanding of that new information. When you have to communicate something you know, just like a teacher does, it elevates your grasp of the subject matter. You really have to know your topic in order to effectively communicate what you know to others.