Success is a Dam Breaker

tip-o-the-morning

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Ben Hogan is considered one of the greatest golfers of all time. But, in the winter of 1938, Hogan was on the verge of quitting golf.

After a very disappointing second round of golf, Hogan was in last place in the Oakland Open. There was one day and two rounds of golf left to play. When he got back to his hotel room, he told his wife, “that’s all, that’s enough.”

They were down to their last $50 and Hogan had had enough. He was going to quit golf.

His wife, Valerie, very calmly told him he was a great golfer and he would eventually begin to make money playing golf. The very next day, feeding off of Valerie’s strength, Hogan tore up the golf course and finished in the top 16. He received the largest check of his life, $285.

His success at Oakland broke the dam. He received a job at the Century Club as an assistant pro, which ended his financial woes. Just two years later, Hogan would tie the course record at the North and South Championship in Pinehurst. After Pinehurst, he won the next two PGA events in succession. Lucrative endorsement deals followed as did lucrative offers to play in exhibitions.

Initial success is hard. It’s a hard climb. But here’s the thing – you only need to succeed once. Once you experience success, that initial success breaks the dam wide open. That is when opportunities for more success come pouring in.

So, you must stick with your dream. Never quit on your dreams. You only need to be right once.

CNBC Make It – 8 business icons who became highly successful after 30

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8 business icons who became highly successful after 30 https://cnb.cx/2jkslkM

 

 

Anchored in Ideology

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A few weeks ago CNBC published an article of mine. It was about how the rich will always control the wealth because they know how to cultivate wealth.

Well, the article hit a nerve.

I received dozens of angry emails and tweets that not only berated my article, the comments debased my research and my intelligence. The interesting thing was, none of these critics knew me and none knew anything about my research. Yet, somehow, despite not doing their due diligence, they knew better. They were right and I was wrong.

It reminded me how powerful ideology is.

Ideology is programming that seeps into your subconscious mind, forged primarily in the fires of childhood. We typically pick up our ideologies from our parents. But we can also forge ideologies early in our lives through the influence of other family members, friends, peers, teachers or the neighborhood in which we live.

When you are anchored in ideology, it doesn’t matter how smart you are or how many degrees you have. You will, unknowingly, reject new or different ideas that run counter to an embraced ideology. You will dismiss the opinions, criticism and feedback of others that are in defiance of an embraced ideology. Ideology closes your mind and becomes a barrier to change.

One of the key Rich Habits, which lifts you up in life, making success possible, is being open-minded to the ideas of others. One of the key Poor Habits, which acts like an anchor, dragging you down in life, is being close-minded to the ideas of others.

The Snowball Effect

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Have you ever heard someone use the phrase, “this could snowball”?

What this phrase means is something could get bigger, increase or gain momentum.

One of the derivative Snowball Effects of realizing success from the pursuit of a dream, is subsequent success.

Success perpetuates more success.

And this is why pursuing a dream is so important. When you pursue a dream, there is a chance you might realize success. And this initial success almost always leads to other opportunities for even more and greater success.

Google snowballed. Once the herd took notice of Google, millions joined that herd. Google now owns more than 200 companies.

Facebook snowballed. From a few thousand users, Facebook has mushroomed into more than 1.3 billion users. Facebook now owns some other very well-known companies such as Whatsapp, Instagram and Oculus.

The Apple II’s initial success led to even more success thanks to the Mac, iPod, and the iPhone.

J.K. Rowling’s initial Harry Potter book, Harry Potter and the Sorcerer’s Stone, was a huge hit. Since then, more books followed, creating more success. Movies also followed. There are even Harry Potter amusement parks.

You create the opportunity for success when you pursue a dream. It’s hard work, it’s frustrating work and it’s fraught with risk, stress and can be physically and emotionally demanding. But, all you need is to succeed just once.

Thanks to the Snowball Effect, success snowballs, creating opportunities for more and even greater success.

The Decision Matrix

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There is a common decision matrix most individuals follow. This Decision Matrix is, almost always, determined by your habits.

Power Decisions

Power Decisions are decisions that are made from a position of strength. This strength affords you the luxury to say No.

When you are in a position of strength, you have a upper hand in negotiations, purchase decisions and most other areas of your life. And those decisions, almost always, wind up adding value or some benefit to your life.

Those who have Rich Habits are able to accumulate more money, maintain their health, forge strong relationships with other primarily successful people, and many other things which are the fruit of their good habits. Thanks to their Rich Habits, these individuals are in a perpetual position of strength and able to make Power Decisions.

Desperate Decisions

Desperate Decisions are decisions you make from a position of weakness. This weakness commits you to only one option – saying yes. If you say no with a Desperate Decision, your life is negatively impacted in some way, harming you and/or your family.

When you are in a position of weakness, you are forced to make decisions that are not in your favor and, almost always, wind up negatively impacting your life in some way.

Those who have Poor Habits, struggle with money, do not take care of their health, have weak relationships or have relationships with individuals who share their Poor Habits, and many other things which are the fruit of their Poor Habits. Thanks to their Poor Habits, these individuals are in a perpetual position of weakness and forced to making Desperate Decisions.

Want Decisions

Want decisions are decisions you make to satisfy a want.

Those who possess the Delayed Gratification Rich Habit do not make Want Decisions and are able to accumulate wealth. Because of this accumulated wealth, they put themselves in a position, later in life, to be able to make Want Decisions, using the income from their wealth to purchase that want. Those who are able to accumulate the most wealth, are able to do what they want and never have to worry about the financial consequences.

Those who possess the Instant Gratification Poor Habit make Want Decisions all the time and are unable to accumulate any wealth. As a result, when they run out of money or credit, they are unable to make future Want Decisions and live a life of slavery and misery.

Need Decisions

Need Decisions are decisions that must be made in order to satisfy some need.

Those with Rich Habits are able to make Need Decisions all the time without worrying about the financial consequences. Thus fixing a damaged roof, repairing the boiler, buying enough food for the week, paying a utility bill, etc., are Need Decisions they are able to make to satisfy a pressing need.

Those with Poor Habits are often unable to make Need Decisions because they do not have the financial ability to satisfy a need. Thus, fixing a damaged roof, buying a new boiler, buying enough food for the week, paying a utility bill, etc. all are Need Decisions they are unable to make to satisfy a pressing need, negatively affecting their life.

The point to all this is that your habits, good or bad, affect the decisions you make in life. Those with good habits are able to make the right decisions. Good habits put you in a position of strength and enable you to make decisions that improve the overall quality of your life.

INSIDER – 13 things that wealthy people never waste their money on

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13 things that wealthy people never waste their money on https://insder.co/2I9KvjW

 

 

 

How to Become a Virtuoso

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Virtuosos make the most money and are thus able to accumulate more wealth.

What is a Virtuoso?

A Virtuoso is someone who has unique, advanced skills and knowledge. Society will pay a premium for a product or service they perceive to be of more value to them.

The iPhone X costs $1,100. The Moto E4 costs $100. Individuals are willing to pay 11 times the price of the Moto E4 because of the perceived value of the iPhone X. Apple knows this only too well.

The typical seasoned CPA in the “Big 4” charges about $500-$750 per hour. The typical seasoned CPA in a small firm charges about $100-$200 per hour. Individuals and companies are willing to pay more for a seasoned CPA from a “Big 4” firm because of the perceived value of the “Big 4”.

When you are perceived to be a virtuoso, you will make more money.

So, how do you become a virtuoso?

Read, Write, Speak and Do.

Virtuosos do all four of the above things.

  • Virtuosos constantly read to maintain and acquire knowledge.
  • Virtuosos communicate what they know by writing articles for their blog, other blogs, the media, Internet sites, magazines, newspapers, etc. 
  • Virtuosos stand in front of others and share with them their expertise. Think speakers, media experts, seminar leaders, trainers, teachers.
  • Virtuosos have active clients, customers, patrons, patients, etc. They put their expertise to work in the service of others every day. By doing, they constantly sharpen their ax. 

If you want to become a Virtuoso, you must Read, Write, Speak and Do. All four. Not just one or two. All four. Day after day. Week after week and year after year. The more you Read, Write, Speak and Do, the more expert you become and the stronger your Virtuoso brand. Those with the strongest Virtuoso brand make the most money and accumulate the most wealth.

The Habit Chain

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In the 1950’s, one single invention completely transformed the habits of hundreds of millions of people – the credit card.

The Diner’s Club Card was really the first widely-used credit card. It allowed a limited group of restaurants to offer a small amount of credit to its customers. The card quickly caught on and within one year it had 20,000 cardholders.

The American Express card, introduced in 1958, took things to another level and within five years had 1 million cardholders.

Now, thank to credit cards, anyone can immediately get what they want. This easy credit has made instant gratification a world-wide habit for hundreds of millions of people.

But instant gratification is a Poor Habit. It creates unmanageable debt, which can lead to poverty. It also creates financial stress, which can lead to poor health. When combined, the unmanageable debt and financial stress caused by the instant gratification Poor Habit, produces an unhappy and unhealthy life.

Delayed gratification, living below your means and frugality are all Rich Habits. These Rich Habits form a chain of habits that lead to financial security, little to no financial stress and ultimately a happy, healthy life.

The birth of credit cards has transformed the world by transforming the world’s habits. If you want to be like everyone else, you will give in to instant gratification and incur unmanageable debt that can lead to poverty and financial stress, creating a life of misery.

Or, you can do what the self-made millionaires in my Rich Habits study have done – eschew instant gratification by making a habit of not using credit cards, buying only the best products/services you can afford, saving 10% or more of your income and investing those savings.

Break the bad habit chain that instant gratification produces and embrace the good habit chain that delayed gratification produces.

The difference between these two habit chains is night and day. These differences do not show up immediately. Delayed gratification takes many years to bear fruit. But the fruit it bears is ultimately a happy, healthy and financially stress-free life.

Inc. Magazine – A Financial Planner Interviewed 233 Rich People to Learn How They Think. Here Are the Results

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Inc. Magazine – A Financial Planner Interviewed 233 Rich People to Learn How They Think. Here Are the Results: https://www.inc.com/minda-zetlin/rich-people-wealthy-people-mental-habits-for-success.html

 

 

Celebrity Net Worth – Lack The Entrepreneurial Spirit? Here’s How To Get Rich Working For Someone Else

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Celebrity Net Worth – Lack The Entrepreneurial Spirit? Here’s How To Get Rich Working For Someone Else: https://www.celebritynetworth.com/articles/entertainment-articles/lack-entrepreneurial-spirit-heres-get-rich-working-someone-else/