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GuestUser8117
Guest
Here are the most important lessons I've learned from you guys and as an active forum member.
1. Entrepreneurship is an art and you have to be addicted to it if you want to be successful.
Commitment is necessary to your entreprneurial journey. The "red line" as Mj states it in The Millionaire Fastlane . You have to be so dedicated to succeed that nothing should stop you. And keep in mind that you will fail no matter what you do. But this is where your limits will be tested. Failure is not the end of the world. Thomas Edison invented the incandescent lamp. He never gave up even after thousand times. What if he would have give up? We would not have electricity in our home... You have to be disciplined like a soldier who is determined to win the fight.
2. Normalcy = mediocrity. You want to be !@#$%^&* sure you are not like most people.
Normal is getting up at 6-7 am, fighting traffic and going to work a job 40 years of your life. Normal is having just two weeks of vacation per year. Normal is watching Tv 4-5 hours a day. If you want to really live the life you knew you were always meant to(traveling everywhere, eating at expensive restaurants whitout checking the price, driving an exotic car, living in a mansion on the beach,etc.) you have to do the exact opposite of the majority. Maybe a friend want to hang out on friday night and spend all his week's paycheck in beer. "Thank god it's Friday" he says, so he can enjoy his evening whitout caring about tomorrow.(This was a very funny part in the book by the way
) A fastlaner would think "thank god it's friday so I can work on my business". And if you persist and succeed you will discover something I believe most businessmans aspire to. The freedom to do whatever you want whenever you want.
3. You don't know everything. Learning is a lifelong process.
Education is the seed of success. Learning never ends. And that's the beauty of life. Otherwise we would't grow. Imagine if you read one book per week, at the end of the year you will have amassed a huge amount of wisdom and knowledge.
4. The market will tell you if your idea is worth it. Don't think this is a good idea just because your mind tells you. Want to know if your idea is a good one. Find some customers and see if they like your idea. If it's not the case, rework and adjust. Oh and the idea is worth nothing at all if you don't know how to execute it.
5. Time is so important. Threat it as such.
Everyday we all have the same amount of time. 24 hours. No more or less. I view that as a responsibility. Poor valuation of time = poor outcome on your life. Every day counts and you will never get it back. I stopped watching tv because I realized I could do something better with my free time. I only watch a tv-serie occasionally because I enjoy it. Anyway, time is your most valuable asset, so live with this principle. (I think this is the most important thing I've learned from the book)
6. If you want to accomplish your financial dreams, stop chasing money, chase needs.
You have to deliver value. No selfish motive will ensure a great reward. Customer want to know if you fit their needs, not if you want 5 million dollars. Solve a need and the money will follow. 95 percent of new businesses fail(not sure about the stat). And that's because they don't respect the commandment of need.
7. Your choices are the greatest power that you hold as an individual.
Poor choices lead to poor results. Good choices lead to good results. The choice to go on facebook instead of reading an educational book. The choice to eat fastfood instead of eating a healty meal,etc. The choice to smoke instead of eating an apple. Think carefully before taking a decision, it could be a life altering choice. If you are not where you want to be in life, blame your choices. Learn from your mistakes and don't repeat them. Or much better, learn from the mistakes of others. Choices are somehow the building blocks of your life. If you want to change your life, start by taking better choices.
I could write 5 pages about this but I don't want to. Anyway, that was my nuggets of wisdom.
Omerta
1. Entrepreneurship is an art and you have to be addicted to it if you want to be successful.
Commitment is necessary to your entreprneurial journey. The "red line" as Mj states it in The Millionaire Fastlane . You have to be so dedicated to succeed that nothing should stop you. And keep in mind that you will fail no matter what you do. But this is where your limits will be tested. Failure is not the end of the world. Thomas Edison invented the incandescent lamp. He never gave up even after thousand times. What if he would have give up? We would not have electricity in our home... You have to be disciplined like a soldier who is determined to win the fight.
2. Normalcy = mediocrity. You want to be !@#$%^&* sure you are not like most people.
Normal is getting up at 6-7 am, fighting traffic and going to work a job 40 years of your life. Normal is having just two weeks of vacation per year. Normal is watching Tv 4-5 hours a day. If you want to really live the life you knew you were always meant to(traveling everywhere, eating at expensive restaurants whitout checking the price, driving an exotic car, living in a mansion on the beach,etc.) you have to do the exact opposite of the majority. Maybe a friend want to hang out on friday night and spend all his week's paycheck in beer. "Thank god it's Friday" he says, so he can enjoy his evening whitout caring about tomorrow.(This was a very funny part in the book by the way
) A fastlaner would think "thank god it's friday so I can work on my business". And if you persist and succeed you will discover something I believe most businessmans aspire to. The freedom to do whatever you want whenever you want.3. You don't know everything. Learning is a lifelong process.
Education is the seed of success. Learning never ends. And that's the beauty of life. Otherwise we would't grow. Imagine if you read one book per week, at the end of the year you will have amassed a huge amount of wisdom and knowledge.
4. The market will tell you if your idea is worth it. Don't think this is a good idea just because your mind tells you. Want to know if your idea is a good one. Find some customers and see if they like your idea. If it's not the case, rework and adjust. Oh and the idea is worth nothing at all if you don't know how to execute it.
5. Time is so important. Threat it as such.
Everyday we all have the same amount of time. 24 hours. No more or less. I view that as a responsibility. Poor valuation of time = poor outcome on your life. Every day counts and you will never get it back. I stopped watching tv because I realized I could do something better with my free time. I only watch a tv-serie occasionally because I enjoy it. Anyway, time is your most valuable asset, so live with this principle. (I think this is the most important thing I've learned from the book)
6. If you want to accomplish your financial dreams, stop chasing money, chase needs.
You have to deliver value. No selfish motive will ensure a great reward. Customer want to know if you fit their needs, not if you want 5 million dollars. Solve a need and the money will follow. 95 percent of new businesses fail(not sure about the stat). And that's because they don't respect the commandment of need.
7. Your choices are the greatest power that you hold as an individual.
Poor choices lead to poor results. Good choices lead to good results. The choice to go on facebook instead of reading an educational book. The choice to eat fastfood instead of eating a healty meal,etc. The choice to smoke instead of eating an apple. Think carefully before taking a decision, it could be a life altering choice. If you are not where you want to be in life, blame your choices. Learn from your mistakes and don't repeat them. Or much better, learn from the mistakes of others. Choices are somehow the building blocks of your life. If you want to change your life, start by taking better choices.
I could write 5 pages about this but I don't want to. Anyway, that was my nuggets of wisdom.
Omerta
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