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Posts Tagged ‘commitment’

 Shalom blogren. Its time again to continue on our quest to learn the 9 habits of Millionaires. We are close to the end of our series. Today we look at something particularly difficult for most of us. And that is:

Habit 8: The Ability to turn failure into success

To most of us, failure Is a bad word. Infact, it’s an f-word. We don’t like to fail, so much so that most of us never try to do anything just so we won’t leave any opportunity for that f-word to appear. But this is the greater distinction between us and Millionaires. Most people think that millionaires generally never fail, I mean how else could they be millionaires, right? We’re not millionaires because logically, we’ve failed.

Here’s a truth for you. Millionaires fail a lot more than even you and I. Most millionaires have failed so many times it’s ridiculous. You all heard of Thomas Edison who failed 10,000 times in trying to make a working light bulb. Good grief, I’d have gotten the hint after the 10th time! But millionaires fail more than most of us because they inherently do a lot more, risk a lot more than most of us. The key difference is that millionaires don’t fear failure because they have learned to use it as an ally. Failure to them is simply feedback. It shows them what’s not working and this allows them to change strategy continuously till they eventually succeed.

I don’t know about you, but I’m the kind of person who fails and takes it personally and quits. 3years ago I failed in my first business and guess what I did? Yep, I quit. I didn’t see my failure as feedback that something needed to be changed. Right now, I’m back in the saddle and looking at my past failures trying to understand what I did wrong, correct them this time round and get a better result. Thomas Edison in an interview later responded to a question of how he dealt with such colossal failure, said “I never failed. I simply discovered 10,000 ways not to do it!”

A Chinese proverb says “Madness is doing the same thing again and again and expecting a different outcome” That’s how a lot of people deal with failure. They keep doing the same thing over and over hoping that they will achieve a different result. You can’t keep spending all your money by the 2nd week of each month and hope that after one year of this, you will be debt free?!

In becoming the millionaire or successful person you dream of being, be prepared to fail many times before you achieve success. The important thing is to remember that failure is an event, it’s not who you are. Learn from it, change tactics and commit 100% to doing whatever it takes to achieve success and you will be victorious. I know it’s hard. One of the greatest human fears is the fear of failure.

I personally battle fear in many of its different persona’s so this habit is a challenge for me. As an entrepreneur, I can’t help but find myself fearing that I’m going to fail like I did the last time. That I don’t know enough. I’m not stong enough. I remember the ripple effects my failure had and it sometimes stops me in my tracks sometimes. But the grace of the Master helps me to face my fears each day and know that I’ve learned a lot since I was a naïve young man and I should trust that knowledge will see me through. The Rogue king wrote something about failure.

So my millionaire blogren, lets learn how to turn our failures into success. Our next habit is the last and not least of them which is Habit 9: Respect Money

Later

BARACK OBAMA:

Making your mark on the world is hard. If it were easy, everybody would do it. But it’s not. It takes patience, it takes commitment, and it comes with plenty of failure along the way. The real test is not whether you avoid this failure, because you won’t. it’s whether you let it harden or shame you into inaction, or whether you learn from it; whether you choose to persevere.

HAVELOCK ELLIS:

 It is on our failures that we base a new and different and better success

JOHN DEWEY:Failure is instructive. The person who really thinks learns quite as much from his failures as from his successes.

LLOYD JONES:

Those who try to do something and fail are infinitely better than those who try nothing and succeed.

MICHAEL JORDAN:

I’ve missed more than 9,000 shots in my career. I’ve lost almost 300 games. 26 times I’ve been trusted to take the game winning shot and missed. I’ve failed over and over and over again in my life and that is why I succeed.

SAMUEL SMILES :

We learn wisdom from failure much more than from success. We often discover what will do, by finding out what will not do; and probably he who never made a mistake never made a discovery.

 

 

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Alright, as we continue our series on the 9 habits of Millionaires, I’d like to ask you a question. Do you really want to be rich? I’m sure your answer is a resounding YES! I mean who wouldn’t? But then, if I ask you, are you committed to being rich? The answer might not be so simple, and in most cases, it’s actually a sheepish “Well No, not really”. This leads us straight into our next habit.

Habit 7: Being 100% Committed.

Millionaires or successful people of any kind are 100% totally committed to achieving their dreams. I personally realized long ago that I merely wished to be financially free. You see, when you think about what it takes to actually become a millionaire, exercising all the previous habits we’ve seen so far, I’m actually not too happy about the hard work and sacrifice that goes with it. If it fell in my lap, that would be great but otherwise, it’s just a nice fantasy to cling onto.

To become a millionaire is simple but certainly not an easy process. I mean, most of these habits we’ve looked at aren’t really rocket science. But living them out on a daily basis isn’t so easy. Once you decide to become a millionaire, you will face heavy opposition and obstacles. Life isn’t going to just hand you everything on a silver platter. You have to fight for your goals. When everything is going to hell in a hand basket around you, you must be committed enough to your goal that you stick it thru.

Being 100% committed means when that when you fail 10, 50, 100 times, you don’t give up. You simply modify your approach and change what’s not working and press on. Most of us quit when we fail the first time because achieving that goal isn’t really a MUST. Whenever something in our lives is an absolute must, then we will do whatever it takes. Notice that for most people, being rich isn’t a Must hence there are so few rich people. On the other hand surviving is an absolute must for all of us so the majority of us are merely…that’s right, surviving. We easily give up and find all sorts of excuses why we can’t why it won’t work.

For example, when you have your landlord threatening to throw you out of your house because the rent is due, do you ever notice how you somehow manage to find the money even when you’re broke? See, you must come to a point where it’s absolutely a must to achieve success and that nothing else will do.

I remember a couple of years ago when the Rogue King and I started our first business together, I can’t even begin to count the number of friends and strangers alike who kept praising us for stepping out and starting a business. They went on and on about how being employed is no way to get rich and how they also wanted to start their own thing and succeed. 6years later I can’t pinpoint even one who has gone onto do so. Why? Because it’s not really a must for them to do so. They merely wish of doing it someday.

 To be a millionaire you must really, really want to be one and make certain that you have pressure to achieve your goal. This kind of positive pressure is gained by staking all you have on your dream. Stake everything on achieving your goal. The easiest way to get this sort of pressure on yourself, is to make a public declaration. Write down your goals. Tell a friend. If you want to quit that job and start a business, write out your resignation letter and give it to a friend to hand it in for you after a specific period if you haven’t gotten out by then. Declare to the bloggers that if you don’t hit a target of 500,000/= a month in profit from your business, then you will buy the entire rounds for the next 3 Bloggers Happy Hour.

The point is, you must, absolutely must be committed to being a millionaire or else life’s challenges and obstacles will knock you out of the race before you’ve even taken 5steps.  I leave you with this interesting analogy. In a meal of bacon and Eggs, the chicken is involved but the pig is committed. So the question I ask once again, are you really committed to being a millionaire?

Till next time for habit 8: Turn failure into Success,

Shalom

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