Archive for the ‘The Success Principles’ Category

When I first scanned through Jack’s book, this principle resonated with me right from the start. Since I read the last principle first, I decided I wanted to share these principles with you over the last 64 days. I hope that you found some principles of success that are helping you achieve greater fulfillment in your life.

One of the best things that you can do when you learn something new is to share it with someone else who desires to grow as well. The process of communicating what you learned to another helps solidify in your own subconscious mind the principles you are sharing. It is a powerful means of making it a part of your internal core.

When we begin to teach others solid principles of successful living, we begin to change the world for the better. It may start in your own home first. You may take these principles to your workplace. People in your community may take notice of the positive changes in your life and ask you to share what made you successful. Be ready to spread these principles of success and empower others to live a successful life.

Jack has many other opportunities to go beyond this book in applying these principles to you life. Be sure to check out his website and take advantage of his experiences and teachings to empower you in your journey.

Thank you for sharing this journey with me through the last 64 days. I hope that you have been encouraged in your journey of success. I look forward to sharing more ideas and thoughts in the days to come.

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(Our daily journey of the last 64 days of 2011 is centered on the principles found in Jack Canfield’s book, “The Success Principles: How to Get from Where You Are to Where You Want to Be.” In his book, he encourages his readers to begin teaching others these principles. I would highly recommend that you buy a copy of the book and join us on a journey to a better you.)

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Success Starts Now

“No amount of reading or memorizing will make you successful in life. It is the understanding and application of wise thought which counts.”

Bob Proctor, Author, “You Were Born Rich”

There has been a lot of helpful principles for success shared in the last two months from Jack Canfield’s book, “The Success Principles.” So many ideas that one could very well become overwhelmed and not do anything to move closer to success. So today’s challenge is to pick a few principles that resonated with you and start practicing those principles in your life.

Every success begins with a dream. Every dream becomes a reality with the first step. Every step leads to living out a dream.

Go back through the principles and choose the ones that you need to start practicing in your life. Take action on that principle today. Remember, it takes time for something to develop into a habit (27 continuous days or more). By taking a step today, you move closer to living out your dream.

Please share what principles you found to be most helpful to you in your journey to success.

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(Our daily journey of the last 64 days of 2011 is centered on the principles found in Jack Canfield’s book, “The Success Principles: How to Get from Where You Are to Where You Want to Be.” In his book, he encourages his readers to begin teaching others these principles. I would highly recommend that you buy a copy of the book and join us on a journey to a better you.)

A couple of years ago, I bought the marketing kit designed for Financial Advisors called, “Please….Make ME a little bit FAMOUS,” by Robert Krumroy. The basic premise behind every strategy he gave was to find ways to serve others. Each idea was built on this foundation to set you set you apart from all the other Financial Advisors you were competing with for business. People are naturally more inclined to work with someone who has a habit of serving others.

People who find ways to serve, giving of their time or talent to their favorite charity or organization, live fuller lives, have fewer heart attacks, and reap benefits far greater than expected. Companies who consistently encourage employees to volunteer and promote opportunities for for their employees to volunteer have a much more engaged workforce. The rewards of serving are far more than the time spent doing it.

“You can get everything in life you want if you will just help enough other people get what they want.”

Zig Ziglar, “Secrets of Closing the Sale,” 1984

Success comes to those who have a heart to serve others. Employers will favor those who have a history of volunteering over someone who doesn’t. Those who start volunteering early in life have a tendency to achieve promotions and achieve higher-level positions. Volunteering is also a great way of networking and building connections for more business and opportunities.

If you don’t have a favorite charity, find one that resonates with your life, your passions, or your hobbies. There are plenty of opportunities to serve that will be fulfilling to you and that you will enjoy doing. Help make the world a better place by serving!

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(Our daily journey of the last 64 days of 2011 is centered on the principles found in Jack Canfield’s book, “The Success Principles: How to Get from Where You Are to Where You Want to Be.” In his book, he encourages his readers to begin teaching others these principles. I would highly recommend that you buy a copy of the book and join us on a journey to a better you.)

There is a paradox in the world: the more you give, the more you receive. This paradox is understood by the wealthiest of the wealthy. It is understood by even the poorest of the poor. Those who struggle the most are more than likely the stingiest of them all.

There is a reason this paradox actually works, both personally and in business. Picture in your mind someone who wants to keep as much as they can for themselves. They have a $1,000 cash in their hand. When you visualize this scenario, what kind of grip does this person have on the money in their hand? Do you have the same image that I do? The hand is gripping the money so tight, you couldn’t pry it open with a crowbar. Do you want to be friends with that type of person? Do you want to do business with that type of person? If that was your employer, how long would you continue to work there?

Now picture in your mind a generous person with the $1,000 in their hand. How are they holding the money? Do you have a picture of an open hand ready to give and receive more? A baby understands an  outstretched hand as someone willing to give. The more open we are to giving, the more we invite into our lives.

Giving is an attitude that invites generosity and gratitude. It creates an inviting demeanor. People are willing to work alongside generous people. People will go out of their way to help those who are givers. People who give regularly and cheerfully attract more to them because of their hearts are open to receive more so they can bless more.

A great practice to start in your life is decide to give a certain portion of all your income away. Many start with 10% as a benchmark. Once you choose a starting place, you will find this principle opening doors that you didn’t know existed.

You may want to consider giving of your time as well. Many charitable organizations have needs for volunteers to accomplish their mission. I have chosen to work with Big Brothers/Big Sisters. I enjoy the time I spend with my Little and having the opportunity to mentor a young man. Choose an organization that you are passionate about serving.

This “secret” to getting more has a long track record. Make it a part of your life and you will find life is much fuller as a result.

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(Our daily journey of the last 64 days of 2011 is centered on the principles found in Jack Canfield’s book, “The Success Principles: How to Get from Where You Are to Where You Want to Be.” In his book, he encourages his readers to begin teaching others these principles. I would highly recommend that you buy a copy of the book and join us on a journey to a better you.)

On Day 59, we talked about mastering the spending game. After you have learned to control your spending, there may still be some things you want to purchase, places you want to visit, or causes you want to help. Rather than sliding back into a pattern of spending more than you make, go make more money first. Jack has 5 suggestions for making more money.

  1. Become an Intrapreneur — There are a growing number of companies that will reward their employees financially for ideas that save money or make more money for the company. Look for opportunities within your company where improvements can made to generate more profit and ask for a percentage of increased profits.
  2. Find a Need and Fill It — Is there a need in the marketplace for an item or service? Look around you and the marketplace. What can you do to meet a need? You can either create an unique solution to meet a need or utilize a current idea to generate some extra income.
  3. Think Outside the Box — Perhaps you are in an industry that does things the same way and it has become the rut that everyone seems content to be in. Start thinking of ways to do something different that will resonate with others. Create a new opportunity that is beyond the status quo.
  4. Start an Online Business —  The Internet has opened up huge opportunities for people to make extra money while still working their regular job. You can sell products and services from the comfort of your home. You can become an affiliate of different companies and market their products while making a percentage of what is sold. There is plenty of opportunity for creating more money online.
  5. Join a Network Marketing Company — There are hundreds of companies that utilize a network marketing business model to create a stream of income. Be sure to thoroughly investigate each opportunity that interests you. There are business opportunities from foods, beauty products, financial services, gift ideas, greeting cards, wellness, and many more. Find a company with a great history and products you like.

When you begin to create other streams of income, you create for yourself a stronger financial foundation that isn’t dependent upon one source. Financially successful people have learned to create multiple streams of income.

When you desire to have something or do something that requires more than you have available, make a habit of finding ways to make more money. You will build your self-esteem as you accomplish the goal and you will enjoy the reward without any regrets that debt brings with it.

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(Our daily journey of the last 64 days of 2011 is centered on the principles found in Jack Canfield’s book, “The Success Principles: How to Get from Where You Are to Where You Want to Be.” In his book, he encourages his readers to begin teaching others these principles. I would highly recommend that you buy a copy of the book and join us on a journey to a better you.)

When you picture a wealthy person, a millionaire, what images come to mind? Do they drive up in fancy cars, wearing expensive suits, high-priced watches and shoes? Do they expect to be wined and dined with the finest wines and fanciest foods? If this is your image of what a millionaire looks like, you probably aren’t looking at millionaires when you see those things. Dr. Thomas Stanley and Dr. William Danko, authors of “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy,” found a completely different picture of what the average millionaire in America looks and acts like. In regards to our principle for today, here are a few of the findings they uncovered as they describe the portrait of a millionaire:

“We live well below our means. We wear inexpensive suits and drive American-made cars. Only a minority of us drive current-model-year automobiles. Only a minority ever lease our motor vehicles.

On average, our total annual realized income is less than 7 percent of our wealth. In other words, we live on less than 7 percent of our wealth.

On average, we invest nearly 20 percent of our household realized income each year.

I am a tightwad.”

(taken from pages 9-11)

Mastering the spending game is a necessary principle to achieve financial success. Typically, we spend money on more things than we really need. If you were to go through your house and gather all the things that you have bought over the years that you did not touch or use in the last 12 months, how big of a room would you need to put all those items? Do you have clothes in your closet with price tags still on them? Do you have tools you bought for one little project and haven’t touched them for several years? Most of us have spent too much on items that were probably not necessary.

Several years ago, I was a faciliator of the Financial Peace University program that Dave Ramsey put together to help educate people in the area of personal finance. Dave suggests in that program to start paying cash for items you want to purchase. The primary reason (and Jack mentions this too) for doing this is that there is more conscientious buying when using cash rather than credit or debit cards. The visual of actual cash leaving your hands causes you to pause more before purchasing.

If you have been in the habit of spending more than you make and you are like the typical American, you have racked up some credit card debt as a result of your spending habits. First things first, stop borrowing more money!! (Strong emphasis for my own ears to hear.) Second, start paying off those debts so that you free up your most valuable asset, your income.

Once you begin this process of mastering what you spend, you will find yourself making gains on what you are able to save and invest. Most wealthy people are frugal, and they may have gotten to be wealthy by being frugal. Being frugal doesn’t equal stingy. Frugal people look for and expect a bargain. They look for a means to spend less. As you journey toward a life of financial success, you will begin practicing the habit of mastering the spending game.

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(Our daily journey of the last 64 days of 2011 is centered on the principles found in Jack Canfield’s book, “The Success Principles: How to Get from Where You Are to Where You Want to Be.” In his book, he encourages his readers to begin teaching others these principles. I would highly recommend that you buy a copy of the book and join us on a journey to a better you.)

If you have ever flown on a commercial airplane, one of the airline attendants will go over the safety instructions prior to the flight. In the event that the oxygen masks should drop down, you are instructed to place your mask on yourself first prior to helping someone else with their mask. The reason is simple; you can’t help anyone else if you are passed out due to lack of oxygen. You must put your mask on first prior to helping someone else. The same is true in your financial life; you must pay yourself first.

Financially successful people make it a habit to take a portion of their income and save it before any other expenses. They take responsibility for their own financial future, not hoping the government or someone else will take care of their financial needs.

There is a mathematical reason why it is important to begin this habit as early as possible. It is called compound interest. The earlier you start the process, the higher the reward. An example many financial advisors use goes something like this:

Sally Earlybird begins investing $1,200 (only $100/month) a year at age 25, earning 10% a year on her investment. When she reaches 35 years of age, she stops contributing. Her friend, Fred Waittillater, decides he needs to begin investing and he starts at age 35, investing $1,200 a year earning 10%. He continues to do so until retirement at age 65. Who do you think has the most money at retirement, considering Sally only put in $12,000 and Fred put in $36,000? If you answered”Sally,” you understand the power of compound interest. Sally’s total amount would $367,090.06, while Fred’s would be $217,132.11.

The key is to start early and maintain the discipline of paying yourself first without touching that money. This is a process, not a get-rich-quick idea. Consistent and steady wins the race.

Jack delves into several other areas in the book that are worth reading through. I am going to add a couple of things here from my experience as a financial advisor (I am not currently a financial advisor, and I would suggest you find one who comes highly recommended from multiple sources).

First, remember that there is a difference between saving and investing. Oftentimes it is said that you are “saving” for retirement through your IRA or 401(k), when you are really “investing” your money in those vehicles. There are some options out there that provide less risk and decent rates of return without market volatility. Know what your risk tolerance is and where you are investing your money.

Robert Kiyosaki, coauthor of “Rich Dad, Poor Dad,” shares an important rule when it comes to your financial literacy.

Rule One. You must know the difference between an asset and a liability, and buy assets. If you want to be rich, this is all you need to know…Most people struggle financially because they do not know the difference between an asset and a liability.”

As you begin to pay yourself first, be sure you know the difference and start buying assets, things that will generate revenue. By developing the habit of taking a set percentage off the top of all your income, you will create a pool of money to buy income-generating assets. It starts with a consistent habit of paying yourself first.

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(Our daily journey of the last 64 days of 2011 is centered on the principles found in Jack Canfield’s book, “The Success Principles: How to Get from Where You Are to Where You Want to Be.” In his book, he encourages his readers to begin teaching others these principles. I would highly recommend that you buy a copy of the book and join us on a journey to a better you.)