Tip o’ the Morning to Ya – The Power of Mistakes

Rich Habits Word of the Day

Gaffe – Mistake, blunder.  Tom’s pursuit of his dream resulted in many gaffes and, through the process of elimination, found those things that did work.

Rich Habits Fact of the Day

We have just celebrated the 135th anniversary of Thomas Edison’s success in heating a spiral of carbonized cotton thread to incandescence for 14 hours in his lab in New Jersey. He did that on Oct. 22, 1879, and followed up a month later by keeping a filament of common cardboard alight in a vacuum for 45 hours. Three years later he went on to light up half a square mile of downtown Manhattan, though only one of the six dynamos in his design of his central power station worked when he pulled the switch on Sept. 4, 1882.

“Many of life’s failures,” the supreme innovator said, “are people who did not realize how close they were to success when they gave up.” Before that magical moment in October 1879, Edison had worked out no fewer than 3,000 theories about electric light, each of them reasonable and apparently likely to be true — but in only two cases did his experiments work.

No one likes failure, but the smart innovators learn from it.

Rich Habits Lesson of the Day

Success is built on a mountain of mistakes. The greater the number of your mistakes the higher your mountain of success. This is why it is important to push yourself out of your comfort zone by pursuing goals and dreams. The pursuit of goals and dreams forces you to reach in life. This reaching into new territory elevates your learning in two ways: learning created by self-education and learning created by making mistakes. Both increase your knowledge and skill level. Learning what not to do is very often the best education because mistakes cost you time and money. As a result, they aren’t easily forgotten. They stick out like missing teeth in a smile. Mistakes force you to make course corrections; to adjust your thinking and behavior.

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Thomas C. Corley About Thomas C. Corley

Tom Corley is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, CFP, and hold a master’s degree in taxation. As president of Cerefice and Company, CPAs, Tom heads one of the premier financial firms in New Jersey.
 
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