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TOM@RICHHABITS.NET
In the pursuit of success, pain is not an enemy but a powerful ally. “Pain Power” refers to the transformative force of discomfort, failure, and mistakes that propel personal growth, learning, and mastery. Drawing from extensive research on the habits of the wealthy, it’s clear that embracing pain is a cornerstone of achievement. My five-year study of 233 self-made millionaires revealed that the rich view failures as invaluable lessons, while the poor often repeat mistakes because they ignore the learning their mistakes can teach them.
This mindset shift turns agony into advancement.
My Rich Habits findings emphasize that successful individuals cultivate a growth-oriented approach. They don’t fear change, risks, or errors; instead, they lean into them, learning from them and this helps them build confidence and resilience over time.
For instance, 65% of millionaires in my Rich Habits study maintained multiple income streams as a hedge against failure. They know that things can go wrong and to insure against financial Armageddon of a source of income, they create these multiple streams of income to insulate them from destroying their lives. Multiple streams of income allow them to survive financial tsunamis that impact a single revenue stream. They forged this creation of multiple streams of income Rich Habit precisely because they experienced some financial calamity in the past.
Passion plays a key role in persisting through rejection and missteps, making work feel less like drudgery and more like a path to learning and mastery.
The wealthy see failures as painful learning that reveals opportunities to solve seemingly problems and improve their business model.
Psychologist Carol Dweck’s work on growth mindset shows that viewing abilities as improvable—rather than fixed—encourages embracing challenges and learning from failures, leading to growth and success.
Studies indicate that individuals with a growth mindset are more positive and hopeful because they know that the pain of hard lessons builds their resilience and confidence.
Pain is necessary if you wish to be successful.
Thomas Edison’s 1,000 failed attempts before the lightbulb was born, epitomize how painful iterations lead to solutions and mastery.
Pain Power is about harnessing and embrassing adversity.
By adopting Rich Habits like daily reflection and self-awareness of mistakes, anyone can transform suffering into strength.
Success isn’t painless—it’s powered by it.
Embrace the Pain. Your future success is forged by it.
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”, “Rich Habits: The Routines Millionaires Use Daily to Build Wealth” and “Rich Habits Wealth Academy.”
