TLDR;
This video outlines 18 micro habits that can contribute to wealth accumulation and overall success. These habits range from financial awareness and time management to continuous learning, environmental investment, and community contribution. The core idea is that small, consistent actions, when compounded over time, can lead to significant positive outcomes.
- Financial awareness and discipline are crucial, including daily monitoring of finances and avoiding bad debt.
- Personal development through continuous learning, physical fitness, and mindful social media consumption is essential.
- Goal setting, regular review, and a focus on long-term mastery are key to achieving success.
Look at Your Money Daily [0:22]
The importance of monitoring your finances daily is emphasized. Regularly reviewing your accounts, credit cards, and transactions provides a sense of the cash flow within your businesses. This awareness allows you to give your finances the necessary attention and make informed decisions. The "24-hour rule" suggests checking your money every day to stay informed and proactive about your financial situation.
Value Your Time [1:05]
The video stresses the importance of valuing your time, as rich people tend to say "no" more often than "yes." Saying "yes" to everything can hinder your future goals, while saying "no" allows you to focus on what you want to create. It's acceptable to be a little selfish to improve your resources and capabilities, enabling you to contribute more in the future.
Set Clear Goals [1:35]
Setting clear goals is essential for success. The speaker shares an experience from their first successful company, where they created a vision with specific targets for revenue, people, and global presence. Clarity and focus are key, and a properly set goal is half complete. The "rule of 300" emphasizes the need for 100% clarity, belief, and commitment to achieve your goals.
Review Your Goals Daily [2:18]
Reviewing your goals daily is crucial for staying on track. Using triggers, such as sitting at your desk or getting in your car, can remind you to review your goals. Regular review activates your reticular activating system, helping you identify opportunities to achieve your goals. This consistent focus keeps your objectives top of mind and increases the likelihood of success.
Automate Your Savings [3:14]
Automating your savings is presented as a "set it and forget it" strategy. Making financial decisions when you're feeling positive and then automating the process ensures consistent savings. While the speaker lives off 10% of their income, the 50/30/20 rule (50% for needs, 30% for wants, 20% for savings) is recommended for most people. Automating investments into a pre-determined portfolio eliminates the need for constant decision-making.
Avoid Bad Debt [3:55]
Avoiding bad debt, such as high-interest consumer debt, is crucial. The speaker shares a personal experience of financing furniture and ending up paying more than double the original cost due to interest. Debt should only be taken on for investments that can generate income, such as real estate, business ventures, or self-improvement. Short-term leverage is acceptable, but avoid making others rich off your borrowed money.
Exhaust the Body, Tame the Mind [4:51]
Physical exercise is essential for mental clarity and focus. The speaker, diagnosed with ADHD at a young age, found that going to the gym helped them think and focus without medication. Daily exercise is viewed as a way to work on the mind, improving overall productivity and well-being.
Use Your Feed on Social Media to Feed Your Mind [5:27]
Social media can be used as a tool for learning and self-improvement. Instead of being distracted by irrelevant content, curate your feed to teach yourself new things. Search for topics you want to learn about, engage with informative videos, and adjust your feed accordingly to create a "social university."
Read 10 Pages a Day [6:01]
Reading is highlighted as a key habit of millionaires. Since nobody knows how to do something the first time, reading books is the best way to learn from others' experiences and avoid the pain of trial and error. The speaker has read over 1,600 books, drawing inspiration and knowledge from those who have mastered skills and shared their insights.
Wake Up Early [6:46]
Waking up early is beneficial, but it's important to also go to bed on time. Setting an alarm to go to bed ensures you get enough sleep. The hours between 3:00 a.m. and 6:00 a.m. are considered a time of heightened inspiration and connection to the universe. This quiet time can lead to valuable insights and ideas.
Invest in Your Environment [7:39]
Investing in your environment can significantly impact your productivity and well-being. The speaker shares an experience of spending money to improve their office space, emphasizing the importance of creating a comfortable and energizing work environment. Investing in tools like a good chair, monitors, and lighting can make your work feel more enjoyable.
Follow One Course Until Successful [8:31]
Focus is essential for achieving success. The richest people in the world dedicate themselves to one thing for an extended period. Avoid distractions and diversification early on; instead, concentrate your efforts on mastering a single skill or business.
Protect Your Space [9:03]
Protecting your space involves curating your inputs and environment. Turn off the news, cut out toxic friends, and curate your feed to show you opportunity and possibility. The quality of your inputs will determine the quality of your outputs, so it's crucial to shield yourself from negativity.
Stop Asking for Money [9:24]
Instead of asking for money, ask for advice. When you seek advice, people will tell you what needs to be true for them to be interested in investing. By agreeing with their points, you increase your chances of eventually receiving funding.
Live Below Your Means [9:53]
Being wealthy is a ratio, not a number. It's about spending less than you earn. Rich people buy things that make them money, while broke people buy things to impress others. Avoid buying unnecessary items to impress people you don't like.
Give Back to Your Community [10:23]
Giving back to your community creates opportunities and abundance. Helping others achieve their goals can lead to your own success. Share your resources and be of service to others, fostering a mentality of expansion rather than scarcity.
Reflect on Your Achievements [11:14]
Reflecting on your achievements can boost your confidence and energy. Create an achievement list of all your accomplishments, no matter how small. Reviewing this list reminds you of what you're capable of and helps you regain momentum when feeling doubtful.
Be Blissfully Dissatisfied [12:21]
Be grateful for what you have, but also be dissatisfied with the idea that you're here to do more. As long as you're alive and passionate about creating for others, continue to build and contribute. Believe that you're here to do something massive and special with your life.