Fears from Think And Grow Rich

Napolean Hill, Think And Grow Rich

Fears

 The Six Basic Fears

There are six basic fears, with some combination of which every human suffers at one time or another.  Most people are fortunate if they do not suffer from the entire six.  Named in the order of their most common appearance, they are:

The fear of poverty

The fear of criticism

The fear of ill health

The above three are at the bottom of most of one’s worries.

The fear of loss of love of someone

The fear of old age

The fear of death

All other fears are of minor importance; they can be grouped under these six headings.  Fears are nothing more than states of mind.  One’s state of mind is subject to control and direction.  Man can create nothing which he does not first conceive in the form of an impulse of thought.  Following this statement comes another of still greater importance, namely, man’s thought impulses begin immediately to translate themselves into their physical equivalent, whether those thoughts are voluntary or involuntary.  Thought impulses which are picked up by mere chance (thoughts which have been released by other minds) may determine one’s financial, business, professional, or social destiny just as surely as do the thought impulses which one creates by intent and design. 

We are here laying the foundation for the presentation of a fact of great importance to the person who does not understand why some people appear to be “lucky” while others of equal or greater ability, training, experience, and brain capacity, seem destined to ride with misfortune.  This fact may be explained by the statement that every human being has the ability to completely control his own mind, and with this control, obviously, every person may open his mind to the tramp thought impulses which are being released by other brains, or close the doors tightly and admit only thought impulses of his own choice.

Nature has endowed man with absolute control over but one thing, and that is thought.  This fact, coupled with the additional fact that everything which man creates begins in the form of a thought, leads one very near to the principle by which fear may be mastered.  It is true that all thought has a tendency to clothe itself in its physical equivalent (and this is true, beyond and reasonable room for doubt), it is equally true that thought impulses of fear and poverty cannot be translated into terms of courage and financial gain. 

 The Most Destructive Fear

Fear of poverty is a state of mind, nothing else!  But it is sufficient to destroy one’s chance of achievement in any undertaking.  This fear paralyzes the faculty of reason, destroys the faculty of imagination, kills off self-reliance, undermines enthusiasm, discourages initiative, leads to uncertainty of purpose, encourages procrastination, wipes out enthusiasm and makes self-control an impossibility.  It takes the charm from one’s personality, destroys the possibility of accurate thinking, diverts concentration of effort; it masters persistence , turns the will-power into nothingness, destroys ambition, beclouds the memory and invites failure in every conceivable form; it kills love and assassinates the finer emotions of the heart, discourages friendship and invites disaster in a hundred forms, leads to sleeplessness, misery and unhappiness—and all this despite the obvious truth that we live in a world of over-abundance of everything the heart could desire, with nothing standing between us and our desires, expecting lack of a definite purpose.

The fear of poverty is, without a doubt, the most destructive of the six basic fears. It has been placed at the head of the list, because it is the most difficult to master.  The fear of poverty grew out of man’s inherited tendency to prey upon his fellow –man-economically.  Nearly all animals lower than man are motivated by instinct, but their capacity to “think” is limited, therefore, they prey upon one another physically.  Man, with his superior sense of intuition, with the capacity to think and to reason, does not eat his fellow-man bodily; he gets more satisfaction out of “eating” him financially.  Man is so avaricious that every conceivable law has been passed to safeguard him from his fellow man.

Nothing brings man so much suffering and humility as poverty!  Only those who have experienced poverty understand the full meaning of this  It is no wonder that mean fears poverty.  Through a long line of inherited experiences man has learned, for sure, that some men cannot be trusted, where matters of money and earthly possessions are concerned.  So eager is man to possess wealth that he will acquire it in whatever manner he can—through legal methods if possible—through other methods if necessary or expedient. 

Self-analysis may disclose weaknesses which one does not like to acknowledge.  This form of examination is essential to all who demand of life more than mediocrity and poverty.  Remember, as you check yourself point by point, that you are both the court and the jury, the prosecuting attorney and the defendant; also, that you are on trial.  Face the facts squarely.  Ask yourself definite questions and demand direct replies.  When the examination is over, you will know more about yourself.  If you do not feel that you can be an impartial judge in this self-examination, call upon someone who knows you well to serve as judge while you cross-examine yourself.  You are after the truth.  Get it, no matter at what cost even though it may temporarily embarrass you!

The majority of people, if asked what they fear most, would reply, “I fear nothing.”  The reply would be inaccurate, because few people realize that they are bound, handicapped, whipped spiritually and physically through some form of fear.  So subtle and deeply seated is the emotion of fear that one may go through life burdened with it, never recognizing its presence.  Only a courageous analysis will disclose the presence of this universal enemy.  When you begin such an analysis, search deeply into your character.  Here is a list of the symptoms for which you should look:

 Symptoms of the Fear of Poverty

 Indifference.  Commonly expressed through lack of ambition; willingness to tolerate poverty; acceptance of whatever compensation life may offer without protest; mental and physical laziness; lack of initiative, imagination, enthusiasm and self-control.

 Indecision.  The habit of permitting others to do one’s thinking.  Staying “on the fence.”

 Doubt.  Generally expressed through alibis and excuses designed to cover up, explain away, or apologize for one’s failures, sometimes expressed in the form of envy of those who are successful, or by criticizing them.

 Worry.  Usually expressed by finding fault with others, a tendency to spend beyond one’s income, neglect of personal appearance, scowling and frowning; intemperance in the use of alcoholic drink, sometimes through the use of narcotics; nervousness, lack of poise and self-consciousness.

 Over-caution.  The habit of looking for the negative side of every circumstance, thinking and talking of possible failure instead of concentrating upon the means of succeeding.  Knowing all the roads to disaster, but never searching for the plans to avoid failure.  Waiting for the “right time” to begin putting ideas and plans into action, until the waiting becomes a permanent habit.  Remembering those who have failed, and forgetting those who have succeeded.  Seeing the hole in the doughnut, but overlooking the doughnut.  Pessimism, leading to indigestion, poor elimination, autointoxication, bad breath and bad disposition.

 Procrastination.  The habit of putting off until tomorrow that which should have been done last year.  Spending enough time in creating alibis and excuses to have done the job.  This symptom is closely related to over-caution, doubt and worry.  Refusal to accept responsibility when it can be avoided.  Willingness to compromise rather than put up a stiff fight.  Compromising with difficulties instead of harnessing and using them as stepping stones to advancement.  Bargaining with life for a penny, instead of demanding prosperity, opulence, riches, contentment and happiness.  Planning what to do if and when overtaken by failure, instead of burning all bridges and making retreat impossible.  Weakness of and often total lack of self-confidence, definiteness of purpose, self-control, initiative, enthusiasm, ambition, thrift and sound reasoning ability.  Expecting poverty instead of demanding riches.  Association with those who accept poverty instead of seeking the company of those who demand and receive riches.

Annuities—What You Need To Know

Annuities—What You Need To Know

What is an annuity?  An annuity is a retirement product that provides income for those that need it. 

There are 4 types of annuities:

• Single Premium Immediate Annuity—designed to distribute income over a specific period of time or for one’s life.  For those that desire income, this is the best hidden secret out there.  There is no risk, it is guaranteed to pay out that income via a contractual agreement and it is ensured by that particular state that that individual lives in.  It’s not an investment; it’s a strategy to pay out income. 

 

• Single (Flexible) Premium Deferred Annuity—we could add money to this annuity.  Again, this is not an investment, it’s a saving’s vehicle.  We don’t pay any tax along the way.  Normally, they pay 1-2% more than a CD would, very safe and insured by the state that the person lives in.  The principal is safe and guaranteed, as well as the interest earned, too. 

 

• Fixed Indexed Annuity-gives us the safety of principal, gives us the guaranteed interest of a minimum, however, the future growth is linked to the stock market.  It is linked to the S&P 500 or the Nasdaq. 

 

• Variable Annuity—totally different than the above other 3.  It’s an investment, the money is linked to mutual funds and there are no guarantees.  And there are a lot of charges involved. 

The Power of Association

The Power of Association

They say that in order to learn how to be a millionaire, you should associate yourself with millionaires.  In order to learn how to be fit and healthy, you should associate yourself with fit and healthy people.  It makes sense, doesn’t it?  If you want to make money, you wouldn’t take advice from a poor person, would you?  If you want to be thin, you wouldn’t take advice from a heavy person, would you? 

The power of association is a very powerful force that either pulls you closer to where you want to go or pushes you further away.  This is common sense for a lot of people, however, we fail to honor its simplicity.  Why is this?  Unfortunately, we don’t realize his powerful this principle is.  We find ourselves at the edge of the cliff and we wonder how we ever got there.  How could we possibly allow ourselves to be steered so far off course?  Unconsciously, we allowed our influences to quietly nudge us a little bit at a time.  This quiet nudging is the effect of neglect.  When we neglect to take a look at our associations and assess how healthy and positive they are for our development, the damage can be catastrophic. 

An example of this is the story of the 700 pound man.  As I hear stories of people who weight 500, 600 and 700 pounds, I seldom wonder how he/she got to that weight.  Personal erosion occurs when we do less everyday than we could.  This lack of maximum effort and care over time will devastate anyone’s health, business or relationship.  When that person reaches for a candy bar and not an apple, he/she is choosing to neglect his/her health.  When we choose to have a candy bar today, we choose to weigh too much tomorrow.  No one can go from a healthy weight to an unhealthy weight overnight or a surplus to a deficit overnight either.  Slow erosion fueled by neglect steers you so far off course, you’ll wonder how you ever got there. 

Some people will say, “What’s the big deal?”  At the end of the day, it is a big deal.  The little adds up and makes the entire picture.

Boomer Facts

Hello, everyone!  Greetings!  Today’s blog is about the facts.  What exactly are we talking about when we refer to the booming and aging of America?

Human beings are emotional creatures, however, I find that concrete, factual information helps us to better understand the situation at hand.

Here are some facts for your enjoyment:

According to Advisor Magazine, in 2010, Baby Boomers are 46 to 64 years old.

76 million Americans were born during the baby boom.  Mothers born during the period have had an average of 3.8 kids of their own.

On January 1, 2011, the first boomer turns 65.  This will continue at a rate of one every nine seconds until December 21, 2029, when the last crosses that threshold.

By 2030, there will be approximately 70 million people in the United States over the age of 65, almost twice as many as there are today, according to the U.S. Census.

Average life expectancy for a boomer at age 60 today is 80.7 for men and 83.8 for women.  One in two will live even longer.

Two-thirds of middle boomers (those aged 52 to 58, comprising 29 million of the group) have at least one parent still living and half still have children living at home.  Half have grandchildren.  Some 72 percent provide financial assistance to their children and grandchildren, averaging about $38,000 over the past five years.

Boomers spend approximately $2.7 billion annually on consumer goods and services, about 43% of all consumer spending.

Boomers are almost 15% wealthier than the previous generation was at the same age.  The middle wave of the silent generation reached age 50 in 1986 and had an average household income of $76,975 (in current dollars); the middle wave of the boomers reached age 50 in 2006 and had an average household income of $90,067.

The Entrepreneurial Time System

Most people live within a bureaucratic time system.  They work in The Time-and-Effort Economy, where they organize their lives according to bureaucratic strategies.  These strategies, for the most part, require time and effort but do not produce results.  They are geared to producing a standardized, competent level of performance, where creativity is suppressed, and extraordinary achievement is discouraged.

As new technologies continually provide new capabilities and opportunities, the first requirement for improving productivity is the replacement of bureaucratic strategies with those based on the successful experience of the best entrepreneurs.  The first area of work and life where a fundamental new strategy is needed is time management.

The goal of the bureaucratic time system is to achieve maximum uniformity, repetition, and predictability.  This goal is supported by rigid work hours and rigid work days, and is based on the sale of labor for security: All work hours, days, and weeks are just the same.  In tranquil times, the bureaucratic time system leads to boredom.  During times of great change, this rigid way of organizing time leads to crises, high levels of stress, and exhaustion—with ever-diminishing results.

The Entrepreneurial Time System has ever-greater results.  It is radically different.  It introduces creativity, greater variety, and higher levels of production into every aspect of work and personal life.  It is implemented by dividing all time into three distinct kinds of days, each of which lasts 24 hours from midnight to midnight:

The Free Day: The purpose of the Free Day is rejuvenation and enjoyment of physical, mental, psychological, and emotional capabilities.  Complete separation and freedom from work-related activities and obligations are required.

The Focus Day: The purpose of the Focus Day is to maximize concentration of an individual’s capabilities on the most important activities, relationships, and opportunities.  Complete freedom from non-productive tasks and details is required.

The Buffer Day: The purpose of this third kind of day is preparation, both for the rejuvenation that will occur during future Free Days and the productivity that will occur during future Free Days.  Complete freedom from the pressures and demands of Focus Day activities and deadlines is required.

The Entrepreneurial Time System results in increased rejuvenation, productivity, and preparation.  It provides individuals in The Results Economy with a different time reality.  Those who organize their lives according to Free, Focus, and Buffer Days experience a slowing down of time, a sense of having all the time they need to do everything properly and to enjoy everything they do.  They also experience the increased confidence that comes from an accelerating cycle of increased rejuvenation, productivity, and preparation.

Free Days lead to increased energy, creativity, and optimism.  Focus Days, which concentrate our intelligence and energy, lead to twice the results in half the time.  Buffer Days lead to increased simplicity and efficiency, and the ability to plan farther into the future.  Because it continually increases the energy, confidence, and capability of all who use it, The Entrepreneurial Time System is the foundation for the entrepreneurial strategies to follow.

Taken from How The Best Get Better by Dan Sullivan.

The Referability Habits

The best marketing strategy in the world is to be referable.  Being referable means that your existing clients and customers believe in you so strongly that they want to tell others about you.  They believe so strongly in you that your success is as important to them as their own.  Referability means that your clients and customers are continuously cloning themselves—continuously introducing you to those like themselves or better than themselves.

All refer ability depends upon four habits.  Although the best entrepreneurs are involved in diverse kinds of businesses, have very different kinds of clients and customers, and utilize a wide variety of specialized skills and resources, they are all referable for the same reasons.  Referability, in all places and at all times, depends upon four crucial habits:

*Show up on time.

*Do what you say.

*Finish what you start.

*Say please and thank you.

Although these seem like common sense, a surprising number of people in this world, including entrepreneurs, do not practice these four habits.  As a result, these individuals are not referable.  They may have brains, talent, charm, and experience, but they continually find that their clients and customers do not refer them.  In contrast, those who practice these four habits always get referred into bigger and better opportunities.

Show your clients respect and appreciation.  The four referability habits are crucial because each of them conveys an attitude an attitude of respect and appreciation.  They demonstrate respect for other people’s schedules, goals, and values.  They communicate appreciation because no client or customer will feel taken for granted.  Respect and appreciation are permanent safeguards against indifference, overconfidence, arrogance, negligence, and sloppiness—all all reasons entrepreneurs and others lose business and are not referred into larger opportunities.

Brains, talent, and charm are no substitute.  Many highly intelligent people are not referable because the main attitude they communicate is arrogance.  Many talented people are not referable because their performance is erratic.  Many charming people are not referable because they are undependable.  Even individuals with specialized skills and years of experience are not referable if they do not demonstrate the respect and appreciation that will prompt clients and customers to talk about them favorably.

Make these habits the basis of your daily philosophy and performance. Anyone can choose to begin practicing these habits today.  The rewards will be immediate: He or she will be referred to others.  Within your organization, make these four habits the basis of all training and procedures.  In this way, there will be no breakdowns in service.  Nothing will be missed, nothing will fall through the cracks.  Everything that your organization does—every communication and every activity—will be perceived as respectful and appreciative by everyone who encounters it.  This will result in an endless flood of referrals and unlimited opportunities for growth and success.

Taken from How The Best Get Better by Dan Sullivan.

The Laws of Wealth

From The Richest Man in Babylon by George S. Clason:

LO, MONEY IS PLENTIFUL FOR THOSE WHO UNDERSTAND THE SIMPLE RULES OF ITS ACQUISITION.

The rules are as follows:

1. Start thy purse to fattening
2. Control thy expenditures
3. Make thy gold multiply
4. Guard thy treasures from loss
5. Make of thy dwelling a profitable investment
6. Insure a future income
7. Increase thy ability to earn

Mountain Versus The Valley

Michael E. Gerber is an entrepreneur, business guru and the bestselling author of five books, including his latest, E-Myth Mastery.

Gerber’s awesome metaphor of the mountain hits especially close to home for entrepreneurs.  “Nobody ever climbs the mountain and returns to the valley,” he declares.  It’s hard to get to the top of the mountain, see the view, relish how that sense of accomplishment feels, then forget it all.  Once you’ve lived on the mountain there’s no possible way of going back to anything else, as you know that nothing else will make you happy.

We were born to climb, all 6 billion people on this planet.  However, the majority of us get settled in the valley and never leave.  We warn our children about the mountain because people go there and they don’t come back.

Of course, we all know that the mountain is a metaphor, an expression of understanding one concept in terms of another concept.  It’s about awakening the entrepreneur within you.  The mountain versus the valley is about one’s willingness to participate in life’s climb.  As business people we face this climb every day.  How you climb and for some, if you climb at all, will determine your outcome.

Gerber challenges us to come to the mountain where crazy people live.  Join us on this crazy journey to the top of the mountain!  We promise you you’ll never return to the valley.

Delegate Everything Except Genius

Taken from How The Best Get Better by Dan Sullivan.

All human beings spend their following lives in the following zones of activity: incompetence, competence, excellence and unique ability.  The success or failure of an individual’s life depends upon how much time that person spends in each of these zones.  Unsuccessful people spend most of their lives in the zone of Incompetence.  Successful individuals spend most of their lives in the zones of competence and excellence.  And geniuses—those who achieve extraordinary results during their lives—spend almost all of their lives in the zone of unique ability.

There are different forms of genius. When most people hear the word genius, they think of IQ—which measure genius in logical reasoning.  However, there are many other forms of genius that are not measured by IQ: spatial, musical, kinesthetic, interpersonal, improvisational, and others.  In the 21^st century, one of the most powerful forms of genius will be entrepreneurial genius—the ability to create value in the form of new products and services.  All forms of genius depend upon the total focus of products and services.  Anyone who identifies his or her zone of Unique Ability, and then spends ten years of concentrated effort within that zone, will begin to think, communicate, and perform in ways that other people see as genius.

Unfortunate childhood lessons must be overcome. Many individuals are never able to identity their zone of unique ability, let alone concentrate on it, because they are trapped by childhood training.  They learned that the secret to success in life is to work on your weakness.  Unfortunately, focusing on one’s weaknesses usually leads to a preoccupation with mediocre behavior, performance, and results.  Focusing on one’s weaknesses leads to a constant struggle with oneself throughout life—accompanied by a sense of deficiency, failure and guilt.  In this lifelong pursuit to remedy weaknesses, most individuals completely neglect their inherent areas of Unique Ability.  As a result, their lives are filled with a sense of frustration, wasted potential, and missed opportunity.

Focus on uniqueness; delegate everything else. The best entrepreneurs in the world have discovered that the key to success is to focus totally on areas where you exhibit Incompetence, competence, or even excellence.  Delegate this work to those who have a unique ability in those areas.  Unique ability activities are those that we absolutely love doing, that give us more energy than they consume, and that continue to produce greater levels of skill and better results in relation to the amount of time we invest.  When we are in our unique ability zone, we experience constant growth, increasing confidence, and an ability to innovate solutions.  Additionally, we experience a sense of simplicity, clarity, and serenity, which deeps in relation to the amount of time we spend in the zone.

Leading with your unique ability leads to genius teamwork.  The unique ability encourages and forces us to delegate everything else in our lives to individuals who have strengths where we have weaknesses.  In this process, the unique talents of other individuals are brought to the forefront—and those individuals are encouraged to go through the same process of delegation.  What gradually develops is not only teamwork, but unique ability teamwork in which each individual is able to spend the major part of his or her lifetime creating value for others using their unique ability.

Why People Buy

If you want to experience real growth with your business, you must become the Master of the Moment.  What exactly does that mean?  Who is the Master of the Moment?  In a nutshell, the Master of the Moment is the business who is standing there the moment a consumer decides to make a purchase.  To explain this is better, let’s look at three basic marketing principles you should already know:

People Buy When They Are Ready To Buy

People don’t take the time to stop and buy because when the opportunity arises they don’t need it.  (Or at least they don’t think they do).  In other words they don’t buy because they’re not ready to buy.

Let’s experiment with this marketing philosophy for just a minute.  Think of the last nig purchase you made either professionally or personally.  To make this exercise effective, think of a product or service you paid at least a $1,000 for.

Okay, why did you make your purchase?  Did you do it because someone followed you around and practically forced you to buy?  (If the answer is yes, be sure to give me a call because I have something to sell you, too!)

Did you buy because the deal was just too good to pass up?  Did you buy because you had a bunch of extra cash lying around?

Probably not.  Most likely you bought only after the thought of this product or service entered your head.  Maybe your neighbor or friend made a purchase that you admired.  You probably imagined yourself getting the same product or service.  Then…you started paying attention to how often you saw this product or service.  You might have looked it up online.  You probably discussed it with friends and family.  And finally, once your thoughts were consumed with making a purchase, you acted.

In other words, it was a slow process that led you to your decision to buy.  (Unless of course you’re an impulse buyer.  And if that’s the case…I’ve got all kinds of things for sale!)

But for most people purchases are the result of a natural progression.  People don’t wake up one morning and think, “Oh gosh, I think I’ll buy an expensive product or service today.”  The benefit of letting our minds wrap around an idea first is that, as a consumer, you make better, more informed decisions.

Now as a small business owner, this can’t possibly work to your advantage, right?  You need people to buy, and you need them to buy now.  Which is why most businesses focus solely on the “hot” prospects.

But just because a prospect doesn’t buy at this precise moment doesn’t mean it’s a loss for you and your company.  In fact, it’s the complete opposite.  Because people take their time making up their minds to buy, you’re in a position of competitive power.

I’ll show you how in a minute, but first let’s move on to the next marketing philosophy.

People Like to Buy But They Don’t Like to Be Sold To

Obviously people like buying things.  We wouldn’t have much of an economy if they didn’t.  but you know how irritating it is to be “forced” into a sale.

There’s a reason car dealerships have a bad reputation.  When salespeople are working on commission, they need a sale and they need it now.  And they will do everything they legally can to make the sale.

But what does that do to your customers and prospects?  Those who are “pushed” into a sale might buy now, but more than likely they will not become a repeat buyer.  They’re going to feel tricked and a little bit ridiculous for becoming your “victim.”

Well, if you were only concerned about the here and now, employing pushy sales tactics might work for you.  But you’re not.  Your goal is to GROW your business.  And in order to do that you must get the most value you can out of all your customers and prospects.  You can’t run the risk of alienating those that buy from you.  Which, of course, leads to:

• Lost customers
• Bad reputation
• Returns
• Customer complaints
• Etc.

And you, as the small business owner, don’t have time to deal with issues like these.

Let people buy on their own terms.  Help them come to their buying decision.  Don’t force them into it.  Every purchase should be a happy one.  In a moment, I’ll show you how that can be.  But let’s address the last marketing principle before we move on.

People Buy From Those They Like and Trust

There was one specific example in the Robert Jenkins story that demonstrated the importance of relationships.  Plain and simple, we enjoy buying from pleasant, personable people.  I have often heard of purchases being made simply because the prospect liked the salesperson.  It may not be a wise decision.  They may have no intention of making a purchase, but they do it because they connected with someone.

Never underestimate the value of building sold relationships.  It is your relationships that drive sales and repeat sales and help you grow your business.