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13) Think of yourself as a servant to others.
Whether it's in a work or a family environment, if you’re in a leadership role, you have to put your team before yourself.
To achieve your own goals, help others achieve their goals first.
14) Avoid speaking in absolutes.
As a financial advisor, I've learned that each of us is unique, and our situations vary tremendously.
Financial advice, like health and fitness advice, cannot be approached with a one-size-fits-all mentality.
I make it a point to avoid absolutes like "all," "every," "none," and "never," as the complexities of life are rarely black and white.
What might be great for one individual might be terrible for another person, even if they appear to be in a similar situation.
15) Influence others through entertainment, not lecture.
Dry data and statistics rarely influence others.
Good luck trying to share “the facts” with your friend, or family member, or a random person on twitter, and getting them to actually change their mind on a topic.
Try finding creative and engaging ways to communicate your message. Entertainers make more money than educators.
16) Be a little mysterious.
Embracing an air of mystery can be a captivating trait that intrigues and fascinates others.
Just look at the global phenomenon surrounding the mysterious artist Banksy. His identity remains unknown, yet his artworks have gained worldwide recognition and substantial value.
Authors like Ben Franklin and Samuel Clemens often wrote under pseudonyms to keep their identities hidden and give their work a bit of mystery.
17) Learn to enjoy being alone.
Yes, friends and family can bring us happiness, but it's equally important to enjoy our own company.
Relying solely on others for joy can limit our true fulfillment.
Even the role of government is not to provide happiness, but to protect our right to the pursuit of happiness.
True happiness is a personal choice that requires independence and self-reliance.
18) Don’t follow the herd, the crowd is often lost.
If you catch yourself feeling drawn to do something simply because everyone else is doing it, even if you don't fully understand it, it's time to reevaluate your judgment.
A good example of this phenomenon can be seen in the recent frenzy over NFTs, crypto, and meme stocks.
Stick to your own plan and focus on your own goals- avoid the get rich quick schemes.
19) Sometimes it’s okay to fit in.
While it's important to take a step back when you find yourself in agreement with the mainstream consensus, it doesn't necessarily mean you always have to be a contrarian.
Nobody likes the person who always picks battles and opposes what we say.
Sometimes, flying under the radar can be a good approach, which is something we can learn from the story of Frank Lucas.
20) Suppress emotions and act solely based on judgment.
Avoid making impulsive decisions driven by short-term emotions.
Instead, develop the habit of taking a mental, and if possible a physical step back, analyzing your situation objectively, and making an informed decision based on sound judgment and your long-term strategic goals.
Think to yourself, “Will this thing help me achieve my goals?”
To quote Simon Says #4 from a few weeks ago:
“Sometimes, motivation fades almost instantly. For those who work out in the mornings, have you ever reconsidered your health and fitness goals when that clock first goes off? For those who invest in the stock market, have you ever reconsidered your investment plan during a market crash?
To maintain your motivation and achieve long-term success in any endeavor, it's crucial to have a plan in place. Define your goals, set short-term benchmarks, and plan your days in advance. Don’t let short-term emotions get prioritized over your plans for reaching long-term goals.”
21) Make the most of your 24 hours.
Recognize the concept of opportunity cost, which means that by choosing to do one thing, you are giving up the chance to do something else.
For example, you have a choice between working more hours now to earn extra money or going to the gym to maintain a healthy lifestyle.
If you choose to work more hours now, the opportunity cost would be the time and effort you could have spent on exercising and taking care of your health.
If you choose to go to the gym now, the opportunity cost would be the potential additional income you could have earned by working more hours.
In this case, you are making a trade-off between short-term financial gains and long-term health benefits.
22) Take calculated risks.
Imagine someone who avoids all risks, never driving a car or leaving their house, living in constant fear of the unknown.
This is no way to truly live and is, in fact, the biggest risk of all.
While it's true that the saying "more risk = more reward" is often used in finance, it's important to point out that risks can be managed and mitigated through proper financial planning and diversification.
23) Build a team.
Recognize that you can't be the best at everything, and even if you could, there’s only 24 hours in a day.
Utilize leverage by building a team that complements your strengths and weaknesses. Remember, the output of 1+1 can often equal more than 2 when you have a well-functioning team.
In the competitive landscape of business, whoever can build the best team often emerges as the winner.
24) Get comfortable being uncomfortable: embrace change.
Struggle is a natural part of life, which is why the comfort zone is a dangerous place to be.
Just like in the Bible, where people face tremendous challenges before achieving their goals, we all must learn to embrace discomfort, as it’s an important part of our journey to build a fulfilling and meaningful life.
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