Listen for 5 Minutes, Speak for 1 Minute

Rich Habits

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I asked a lot of questions in my Rich Habits Study – 51,984 questions in total over a five-year period.

One of the questions I asked had to do with building relationships: “What are some of the ways you built relationships with other successful people?”

Many responded that effective communication is one of the keys to forging valuable relationships. “What is effective communication?” I then asked.

Most responded that effective communication is predicated on effective listening – you need to listen five times more than you talk, one of the self-made’s stated.

Thus was born the 5:1 Communication Rule, one proprietary to my Rich Habits research and one that works. It turns out 72% of the self-made millionaires in my Study followed some iteration of this 5:1 Communication Rule.

To build “Power Relationships” use the 5:1 Communication Rule – For every one minute you talk, stop and listen for five minutes. The best way to get the other person to talk for five minutes is to devote part of your one minute to asking them questions about themselves, their spouse, their kids, their career, etc,

Building “Power Relationships” requires effective communication and effective communication requires effective listening.

Tom Corley is an accountant, financial planner and author of “Rich Kids: How to Raise Our Children to Be Happy and Successful in Life”, Effort-Less Wealth, Change Your Habits Change Your Life, Rich Habits Poor Habits and “Rich Habits: The Daily Success Habits of Wealthy Individuals.”

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2 Comments

  1. Russell Baugh on January 22, 2025 at 3:56 PM

    Great advice. I just ordered your new book. I look forward to reading it soon! Keep up the good work.



    • pwsadmin on January 22, 2025 at 4:00 PM

      Tks Russ



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